0000006845-21-000010 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Feb. 27, 2021	Apr. 20, 2021	Aug. 29, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Feb. 27, 2021
Current Fiscal Year End Date	--02-27
Document Transition Report	false
Entity File Number	0-6365
Entity Registrant Name	APOGEE ENTERPRISES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0919654
Entity Address, Address Line One	4400 West 78th Street
Entity Address, Address Line Two	Suite 520
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55435
City Area Code	952
Local Phone Number	835-1874
Title of 12(b) Security	Common Stock, $0.33 1/3 Par Value
Trading Symbol	APOG
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Central Index Key	0000006845
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Public Float			$ 560,000,000
Entity Common Stock, Shares Outstanding		25,781,624

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Current assets
Cash and cash equivalents	$ 47,277	$ 14,952
Receivables, net of allowance for doubtful accounts	175,917	196,806
Inventories	72,823	71,089
Costs and earnings on contracts in excess of billings	29,497	73,582
Other current assets	25,160	25,481
Total current assets	350,674	381,910
Property, plant and equipment, net	298,443	324,386
Operating lease right-of-use assets	58,864	52,892
Goodwill	130,098	185,516
Intangible assets	130,053	140,191
Other non-current assets	46,967	44,096
Total assets	1,015,099	1,128,991
Current liabilities
Accounts payable	76,204	69,056
Accrued payroll and related benefits	50,125	40,119
Billings in excess of costs and earnings on uncompleted contracts	22,789	32,696
Operating lease liabilities	13,251	11,272
Current portion long-term debt	2,000	5,400
Other current liabilities	53,183	118,314
Total current liabilities	217,552	276,857
Long-term debt	163,000	212,500
Non-current operating lease liabilities	48,439	43,163
Non-current self-insurance reserves	24,880	22,831
Other non-current liabilities	68,483	56,862
Commitments and contingent liabilities (Note 10)
Shareholders’ equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 25,713,688 and 26,443,166 shares, respectively	8,571	8,814
Additional paid-in capital	154,958	154,016
Retained earnings	357,243	388,010
Common stock held in trust	(186)	(685)
Deferred compensation obligations	186	685
Accumulated other comprehensive loss	(28,027)	(34,062)
Total shareholders’ equity	492,745	516,778
Total liabilities and shareholders’ equity	$ 1,015,099	$ 1,128,991
Common Stock, Shares Authorized	25,713,688	26,443,166
Common Stock, Par or Stated Value Per Share	$ 0.33	$ 0.33
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares Authorized	25,713,688	26,443,166

Consolidated Results of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Income Statement [Abstract]
Net sales	$ 1,230,774	$ 1,387,439	$ 1,402,637
Cost of sales	955,084	1,068,480	1,109,072
Gross profit	275,690	318,959	293,565
Selling, general and administrative expenses	180,094	231,111	223,140
Goodwill Intang Impairment Loss	70,069	0	3,141
Operating income	25,527	87,848	67,284
Interest expense, net	4,408	8,814	8,094
Other income (expense), net	1,492	716	(528)
Earnings before income taxes	22,611	79,750	58,662
Income tax expense	7,175	17,836	12,968
Net earnings	$ 15,436	$ 61,914	$ 45,694
Earnings per share - basic (USD per share)	$ 0.59	$ 2.34	$ 1.64
Earnings per share - diluted (USD per share)	$ 0.59	$ 2.32	$ 1.63
Weighted average basic shares outstanding	25,955	26,474	27,802
Weighted average diluted shares outstanding	26,304	26,729	28,082

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 15,436	$ 61,914	$ 45,694
Other comprehensive earnings (loss):
Unrealized gain on marketable securities, net of $22, $67 and $17 of tax expense, respectively	80	257	64
Unrealized gain on marketable securities, tax	22	67	17
Unrealized gain (loss) on foreign currency hedge, net of $450, $(129) and $(172) of tax expense (benefit), respectively	1,475	(423)	(565)
Unrealized gain (loss) on foreign currency hedge, tax	450	(129)	(172)
Unrealized gain (loss) on pension obligation, net of $32, $(124) and $72 of tax expense (benefit), respectively	105	(405)	229
Unrealized gain (loss) on pension obligation, tax	32	(124)	72
Foreign currency translation adjustments	4,375	(1,364)	(7,065)
Other comprehensive earnings (loss)	6,035	(1,935)	(7,337)
Total comprehensive earnings	$ 21,471	$ 59,979	$ 38,357

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Operating Activities
Net earnings	$ 15,436	$ 61,914	$ 45,694
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	51,440	46,795	49,798
Share-based compensation	8,573	6,607	6,286
Deferred income taxes	(6,460)	10,463	(5,506)
Gain on disposal of assets	(18,644)	(2,197)	(2,475)
Impairment expense on goodwill and intangible assets	70,069	0	3,141
Proceeds from new markets tax credit transaction, net of deferred costs	0	0	8,850
Noncash lease expense	12,235	12,420	0
Other, net	(2,088)	(1,516)	(2,179)
Changes in operating assets and liabilities:
Receivables	21,630	(4,217)	18,164
Inventories	(1,440)	7,142	5,114
Costs and earnings on contracts in excess of billings	44,183	(18,468)	(48,712)
Accounts payable and accrued expenses	(32,591)	(375)	7,600
Billings in excess of costs and earnings on uncompleted contracts	(10,351)	11,314	9,026
Refundable and accrued income taxes	2,652	(8,726)	3,680
Operating lease liability	(11,513)	(10,829)	0
Other, net	(1,268)	(3,065)	(2,058)
Net cash provided by operating activities	141,863	107,262	96,423
Investing Activities
Capital expenditures	(26,165)	(51,428)	(60,717)
Proceeds from sales of property, plant and equipment	25,108	5,307	12,333
Purchases of marketable securities	(3,606)	(7,012)	(9,213)
Sales/maturities of marketable securities	2,657	7,768	6,110
Other, net	(141)	(1,673)	(2,209)
Net cash used by investing activities	(2,147)	(47,038)	(53,696)
Financing Activities
Borrowings on line of credit	198,601	229,000	363,000
(Repayment) borrowings on debt	(5,400)	150,000	0
Payments on line of credit	(246,340)	(406,500)	(333,000)
Repurchase and retirement of common stock	(32,878)	(25,140)	(43,326)
Dividends paid	(19,601)	(18,714)	(17,864)
Other, net	(2,258)	(3,160)	(1,136)
Net cash used by financing activities	(107,876)	(74,514)	(32,326)
Increase (decrease) in cash, cash equivalents and restricted cash	31,840	(14,290)	10,401
Effect of exchange rates on cash	485	1	(519)
Cash, cash equivalents and restricted cash at beginning of year	14,952	29,241	19,359
Cash, cash equivalents and restricted cash at end of year	47,277	14,952	29,241
Noncash Activity
Capital expenditures in accounts payable	$ 1,101	$ 2,169	$ 1,703

Consolidated Statements Of Shareholders' Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Common Stock Held in Trust	Deferred Compensation Obligation	Accumulated Other Comprehensive (Loss) Income
Balance at Mar. 03, 2018	$ 511,355	$ 9,386	$ 152,763	$ 373,259	$ (922)	$ 922	$ (24,053)
Balance, shares at Mar. 03, 2018	28,158
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 45,694			45,694
Reclassification of tax effects	2,999			2,999
Unrealized gain (loss) on marketable securities, net of tax	64						64
Unrealized gain on marketable securities, tax	17
Unrealized gain (loss) on foreign currency hedge, net of tax	(565)						(565)
Unrealized gain (loss) on foreign currency hedge, tax	(172)
Unrealized gain (loss) on pension obligation, net of tax	229						229
Unrealized gain (loss) on pension obligation, tax	72
Foreign currency translation adjustments	(7,065)						(7,065)
Reclassification of tax effects	0			737			(737)
Issuance of stock, net of cancellations	$ 270	45	80	145	167	(167)
Issuance of stock, net of cancellations, shares	135
Share-based compensation	$ 6,286		6,286
Exercise of stock options	$ 183	6	177
Exercise of stock options, shares	19
Share repurchases	$ (43,326)	(419)	(7,204)	(35,703)
Share repurchases, shares	(1,258)
Other share retirements	$ (1,943)	(13)	(260)	(1,670)
Other share retirements, shares	(39)
Cash dividends	$ (17,864)			(17,864)
Cash dividends per share	$ 0.6475
Balance at Mar. 02, 2019	$ 496,317	9,005	151,842	367,597	(755)	755	(32,127)
Balance, shares at Mar. 02, 2019	27,015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 61,914			61,914
Unrealized gain (loss) on marketable securities, net of tax	257						257
Unrealized gain on marketable securities, tax	67
Unrealized gain (loss) on foreign currency hedge, net of tax	(423)						(423)
Unrealized gain (loss) on foreign currency hedge, tax	(129)
Unrealized gain (loss) on pension obligation, net of tax	(405)						(405)
Unrealized gain (loss) on pension obligation, tax	(124)
Foreign currency translation adjustments	(1,364)						(1,364)
Issuance of stock, net of cancellations	$ 158	57	(124)	225	70	(70)
Issuance of stock, net of cancellations, shares	174
Share-based compensation	$ 6,607		6,607
Share repurchases	$ (25,140)	(229)	(3,963)	(20,948)
Share repurchases, shares	(687)
Other share retirements	$ (2,429)	(19)	(346)	(2,064)
Other share retirements, shares	(59)
Cash dividends	$ (18,714)			(18,714)
Cash dividends per share	$ 0.7125
Balance at Feb. 29, 2020	$ 516,778	8,814	154,016	388,010	(685)	685	(34,062)
Balance, shares at Feb. 29, 2020	26,443
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 15,436			15,436
Unrealized gain (loss) on marketable securities, net of tax	80						80
Unrealized gain on marketable securities, tax	22
Unrealized gain (loss) on foreign currency hedge, net of tax	1,475						1,475
Unrealized gain (loss) on foreign currency hedge, tax	450
Unrealized gain (loss) on pension obligation, net of tax	105						105
Unrealized gain (loss) on pension obligation, tax	32
Foreign currency translation adjustments	4,375						4,375
Issuance of stock, net of cancellations	$ 107	145	(1,212)	1,174	499	(499)
Issuance of stock, net of cancellations, shares	432
Share-based compensation	$ 8,573		8,573
Exercise of stock options	$ 1,456	42	1,414
Exercise of stock options, shares	127
Share repurchases	$ (32,878)	393	7,144	25,341
Share repurchases, shares	(1,177)
Other share retirements	$ (3,161)	(37)	(689)	(2,435)
Other share retirements, shares	(111)
Cash dividends	$ (19,601)			(19,601)
Cash dividends per share	$ 0.7625
Balance at Feb. 27, 2021	$ 492,745	$ 8,571	$ 154,958	$ 357,243	$ (186)	$ 186	$ (28,027)
Balance, shares at Feb. 27, 2021	25,714

Income Taxes

12 Months Ended

Feb. 27, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Earnings before income taxes consisted of the following:


(In thousands)	2021		2020		2019
United States	$	45,651	$	97,297	$	60,042
International	(23,040)		(17,547)		(1,380)
Earnings before income taxes	$	22,611	$	79,750	$	58,662

The components of income tax expense (benefit) for each of the last three fiscal years are as follows:


(In thousands)	2021		2020		2019
Current
Federal	$	11,495	$	8,493	$	22,746
State and local	702		2,064		(4,437)
International	1,642		(2,720)		(459)
Total current	13,839		7,837		17,850
Deferred
Federal	(2,860)		9,513		(12,409)
State and local	538		2,152		6,275
International	(4,138)		(1,202)		628
Total deferred	(6,460)		10,463		(5,506)
Total non-current tax (benefit) expense	(204)		(464)		624
Total income tax expense	$	7,175	$	17,836	$	12,968

Income tax payments, net of refunds, were $14.1 million, $17.8 million and $16.5 million in fiscal 2021, 2020 and 2019, respectively.

The following table provides a reconciliation of the statutory federal income tax rate to our consolidated effective tax rates:


	2021		2020		2019
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%

State and local income taxes, net of federal tax benefit	1.0		4.0		2.7
Foreign tax rate differential	4.6		(0.3)		0.8
Nondeductible goodwill impairment expense	5.6		—		—
Research & development tax credit	(5.3)		(1.6)		(2.7)
§162(m) Executive Compensation Limitation	3.6		—		—
Other, net	1.2		(0.7)		0.3
Consolidated effective income tax rate	31.7	%	22.4	%	22.1	%

The estimated effective tax rate for fiscal 2021 increased 9.3 percentage points from fiscal 2020, primarily due to nondeductible goodwill impairment expense in Canada and the impact of the unfavorable permanent items in relation to reduced earnings in fiscal 2021.

Deferred tax assets and deferred tax liabilities at February 27, 2021 and February 29, 2020 were:


(In thousands)	2021		2020
Deferred tax assets
Accrued expenses	$	6,309	$	15,832

Deferred compensation	9,452		7,934
Employment tax accrual	1,483		—
Goodwill and other intangibles	4,215		—
Liability for unrecognized tax benefits	1,916		1,941
Unearned income	5,778		5,238
Operating lease liabilities	16,039		6,640
Net operating losses and tax credits	9,952		11,093
Other	1,984		1,502
Total deferred tax assets	57,128		50,180
Less: valuation allowance	(7,435)		(8,727)
Deferred tax assets, net of valuation allowance	49,693		41,453


(In thousands)	2021		2020
Deferred tax liabilities
Accrued expenses	1,095		—
Goodwill and other intangibles	3,263		8,166
Depreciation	34,573		32,296
Operating lease, right-of-use assets	15,435		6,666



Other	820		—
Total deferred tax liabilities	55,186		47,128
Net deferred tax liabilities	$	(5,493)	$	(5,675)

The Company has state and foreign net operating loss carryforwards with a tax effect of $10.0 million. A valuation allowance of $7.4 million has been established for these net operating loss carryforwards due to the uncertainty of the use of the tax benefits in future periods.

The Company files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions, Canada, Brazil and other international jurisdictions. The Company is no longer subject to U.S. federal tax examinations for years prior to fiscal 2018, or state and local income tax examinations for years prior to fiscal 2013. The Company is not currently under U.S. federal examination for years subsequent to fiscal year 2017, and there is very limited audit activity of the Company’s income tax returns in U.S. state jurisdictions or international jurisdictions.

The Company considers the earnings of its non-U.S. subsidiaries to be indefinitely invested outside of the United States on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and specific plans for reinvestment of those subsidiary earnings. Should the Company decide to repatriate the foreign earnings, it would need to adjust the income tax provision in the period it was determined that the earnings will no longer be indefinitely invested outside the U.S.

If we were to prevail on all unrecognized tax benefits recorded, $2.2 million, $2.6 million and $3.1 million for fiscal 2021, 2020 and 2019, respectively, would benefit the effective tax rate. Also included in the balance of unrecognized tax benefits for fiscal 2021, 2020 and 2019, are $1.6 million, $1.5 million and $2.0 million, respectively, of tax benefits that, if recognized, would result in adjustments to deferred taxes.

Penalties and interest related to unrecognized tax benefits are recorded in income tax expense. For fiscal 2021, 2020 and 2019, we accrued penalties and interest related to unrecognized tax benefits of $0.3 million.

The following table provides a reconciliation of the total amounts of gross unrecognized tax benefits:


(In thousands)	2021		2020		2019
Gross unrecognized tax benefits at beginning of year	$	4,071	$	5,111	$	4,705
Gross increases in tax positions for prior years	106		82		500
Gross decreases in tax positions for prior years	(351)		(1,100)		(377)
Gross increases based on tax positions related to the current year	429		425		1,067

Settlements	(96)		(15)		(303)
Statute of limitations expiration	(404)		(432)		(481)


Gross unrecognized tax benefits at end of year	$	3,755	$	4,071	$	5,111

On March 27, 2020, the U.S. enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in response to the COVID-19 pandemic. The CARES Act contains numerous income tax provisions, such as relaxing limitations on the deductibility of interest and the ability to carryback net operating losses arising in taxable years from 2018 through 2020. While these provisions did not impact the Company, a provision related to the temporary deferral of the employer share of payroll taxes allowed us to defer remittance of $13.6 million of payroll taxes in calendar 2020, which will be repaid equally in calendar years 2021 and 2022.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Summary of Significant Accounting Policies and Related Data	12 Months Ended
	Feb. 27, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Related Data	Summary of Significant Accounting Policies and Related Data Basis of consolidation The consolidated financial statements include the balances of Apogee Enterprises, Inc. and its subsidiaries (Apogee, we, us, our or the Company) after elimination of intercompany balances and transactions. We consolidate variable interest entities related to our New Market Tax Credit transactions as it has been determined that the Company is the primary beneficiary of those entities' operations (refer to Note 10 for more information). Fiscal year Our fiscal year ends on the Saturday closest to the last day of February, or as determined by the Board of Directors. Fiscal 2021, 2020 and 2019 each consisted of 52 weeks. Accounting estimates The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates. Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying consolidated results of operations to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported operating income or net earnings within the consolidated results of operations. Cash equivalents Highly liquid investments with an original maturity of three months or less are included in cash equivalents and are stated at cost, which approximates fair value. Marketable securities To the extent the amortized cost basis of the available-for-sale securities exceeds the fair value, the Company assesses the debt securities for credit loss. When assessing the risk of credit loss, the Company considers factors such as the severity and the reason of the decline in value, such as any changes to the rating of the security by a rating agency or other adverse conditions specifically related to the security, and management's intended holding period and time horizon for selling. During fiscal 2021, 2020, and 2019, the Company did not recognize any credit losses related to its available-for-sale securities. Further, as of February 27, 2021 and February 29, 2020, the Company did not record an allowance for credit losses related to its available-for-sale securities. Marketable securities are included in other current and non-current assets on the consolidated balance sheets and gross realized gains and losses are included in other income (expense), net in our consolidated results of operations. Inventories Inventories, which consist primarily of purchased glass and aluminum, are valued at lower of cost or market using the first-in, first-out (FIFO) method. Property, plant and equipment Property, plant and equipment (PP&E) is recorded at cost. Significant improvements and renewals that extend the useful life of the asset are capitalized. Repairs and maintenance are charged to expense as incurred. When an asset is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any related gains or losses are included in selling, general and administrative expenses. Long-lived assets to be held and used, such as PP&E, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Depreciation is computed on a straight-line basis, based on estimated useful lives of 10 to 25 years for buildings and improvements; 3 to 10 years for machinery and equipment; and 3 to 7 years for office equipment and furniture. Impairment of long-lived assets Long-lived assets or asset groups, including definite-lived intangible assets ("intangible assets") subject to amortization and property and equipment, are reviewed for impairment whenever events or changes in circumstances such as asset utilization, physical change, legal factors or other matters indicate that the carrying value of those assets may not be recoverable. When this review indicates the carrying value of an asset or asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group, an asset impairment expense is recognized in earnings in the period such a determination is made. The amount of the impairment expense recorded is the amount by which the carrying value of the impaired asset or asset group exceeds its fair value based on discounted cash flows. Goodwill and intangible assets Goodwill Goodwill represents the excess of the cost over the net tangible and identified intangible assets of acquired businesses. We have historically evaluated goodwill for impairment annually at our year-end, or more frequently if events or changes in circumstances indicate the carrying value of the goodwill may not be recoverable. In the third quarter of fiscal 2021, we changed the date of our annual goodwill impairment testing from our fiscal year-end to the first day in our fiscal fourth quarter. This change results in better alignment of the annual impairment test with our strategic and annual planning processes. This change was determined to not be material to and had no impact on our current or historical consolidated financial statements. Evaluating goodwill for impairment involves the determination of the fair value of each reporting unit in which goodwill is recorded using a qualitative or quantitative analysis. A reporting unit is an operating segment or a component of an operating segment for which discrete financial information is available and reviewed by segment management on a regular basis. During the third quarter of fiscal 2021, we combined two reporting units into one reporting unit, following certain structural and leadership changes at the Company, specifically within the Architectural Framing Systems segment. Within this segment, as a result of integration efforts that are ongoing, leadership over the Tubelite and Alumicor reporting units has been combined and functional leaders in areas such as operations, sales, marketing and administration are responsible for allocating resources and reviewing results of the combined business. The goodwill of the individual reporting units was therefore aggregated to the combined reporting unit. We evaluated goodwill on a qualitative basis prior to and subsequent to this change and concluded that no adjustment to the carrying value of goodwill was necessary as a result of this change. In addition, no qualitative indicators of impairment were identified during the third quarter of fiscal 2021, and therefore, no interim quantitative goodwill impairment evaluation was performed. Following this change, we have eight reporting units, six of which have goodwill. If the fair value of a reporting unit exceeds the carrying value, goodwill impairment is not indicated. If the carrying amount of a reporting unit is determined to be higher than its estimated fair value, the excess is recognized as an impairment expense. We estimate the fair value of a reporting unit using both the income approach and the market approach. The income approach uses a discounted cash flow methodology that involves significant judgment and projections of future performance. Assumptions about future revenues and future operating expenses, capital expenditures and changes in working capital are based on the annual operating plan and other business plans for each reporting unit. These plans take into consideration numerous factors, including historical experience, current and future operational plans, anticipated future economic conditions and growth expectations for the industries and end markets in which we participate. These projections are discounted using a weighted-average cost of capital, which considers the risk inherent in our projections of future cash flows. We determine the weighted-average cost of capital for this analysis by weighting the required returns on interest bearing debt and common equity capital in proportion to their estimated percentages in an expected capital structure, using published data where possible. We used discount rates that are commensurate with the risks and uncertainties inherent in the respective businesses and in the internally developed forecasts. The market approach uses a multiple of earnings and revenue based on guidelines for publicly traded companies. Intangible assets We have intangible assets for certain acquired trade names and trademarks which are determined to have indefinite useful lives. We test indefinite-lived intangible assets for impairment annually at the same measurement date as goodwill, the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment expense is recognized in an amount equal to that excess. If an impairment expense is recognized, the adjusted carrying amount becomes the asset's new accounting basis. Fair value of indefinite-lived intangible assets is measured using the relief-from-royalty method. This method assumes the trade name or trademark has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from the asset. This method requires estimation of future revenue from the related asset, the appropriate royalty rate, and the weighted average cost of capital. The assessment of fair value involves significant judgment and projections about future performance. Definite-lived intangible assets are amortized based on estimated useful lives ranging from 18 months to 30 years and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The estimated useful lives of all intangible assets are reviewed annually, and we have determined that the remaining lives were appropriate. Leases On March 3, 2019, we adopted ASU 2016-02, Leases, which results in recognizing a right-of-use asset and lease liability on our consolidated balance sheet at lease commencement for leases with terms greater than twelve months. The initial lease liability is recognized at the present value of remaining lease payments over the lease term. Leases with an initial term of twelve months or less are not recorded on our consolidated balance sheet. We recognize lease expense for operating leases on a straight-line basis over the lease term. We combine lease and non-lease components, such as common area maintenance costs, in calculating the related asset and lease liabilities for all underlying asset groups. Refer to additional information in Note 8. Self-Insurance We obtain commercial insurance to provide coverage for potential losses in areas such as employment practices, workers' compensation, directors and officers, automobile, architect's and engineer's errors and omissions, product rework and general liability. A substantial portion of this risk is retained on a self-insured basis through our wholly-owned insurance subsidiary. We establish a reserve for estimated ultimate losses on reported claims and those incurred but not yet reported utilizing actuarial projections. Reserves are classified within other current liabilities or long-term self-insurance reserves based on expectations of when the estimated loss will be paid. Additionally, we maintain a self-insurance reserve for health insurance programs offered to eligible employees, included within accrued self-insurance reserves. The reserve includes an estimate for losses on reported claims as well as for amounts incurred but not yet reported, based on historical trends. Warranty and project-related contingencies We are subject to claims associated with our products and services, principally as a result of disputes with our customers involving the performance or aesthetics of our architectural products and services. We reserve estimated exposures on known claims, as well as on a portion of anticipated claims for product warranty and rework costs, based on historical product liability claims as a ratio of sales. We also reserve for estimated exposures on other claims as they are known and reasonably estimable. Reserves are included in other current and non-current liabilities based on the estimated timing of dispute resolution. Foreign currency Local currencies are considered the functional currencies for our subsidiaries outside of the United States. Assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the consolidated balance sheets. Derivatives and hedging activities We are exposed to, among other risks, the impact of changes in aluminum prices, foreign currency exchange rates, and interest rates in the normal course of business. In order to manage the exposure and volatility arising from these risks, we utilize derivative financial instruments to offset a portion of these risks. We use derivative financial instruments only to the extent necessary to hedge identified business risks, and do not hold or issue derivative financial instruments for trading purposes and are not a party to leveraged derivatives. All derivative instruments within the scope of ASC 815, Derivatives and Hedging, are recorded as either assets or liabilities at fair value on the consolidated balance sheets. All hedging instruments that qualify for hedge accounting are designated and effective as hedges with changes recognized in other comprehensive earnings (loss). Instruments that do not qualify for hedge accounting are marked to market with changes recognized in current earnings. Cash flows from derivative instruments are classified in the statements of cash flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. Please refer to Note 4 for further disclosure on derivatives. Revenue recognition On March 4, 2018, we adopted ASC 606, Revenue from Contracts with Customers, and as a result, made updates to our significant accounting policy for revenue recognition. We generate revenue from the design, engineering and fabrication of architectural glass, curtainwall, window, storefront and entrance systems, and from installing those products on commercial buildings. We also manufacture value-added glass and acrylic products. Due to the diverse nature of our operations and various types of contracts with customers, we have businesses that recognize revenue over time and businesses that recognize revenue at a point in time. During fiscal 2021, approximately 41 percent of our total revenue is recognized at the time products are shipped from our manufacturing facilities, which is when control is transferred to our customer, consistent with past practices. These businesses do not generate contract-related assets or liabilities. Variable consideration associated with these contracts and orders, generally related to early pay discounts or volume rebates, is not considered significant. We also have three businesses which operate under long-term, fixed-price contracts, representing approximately 36 percent of our total revenue in the current year. The contracts for these businesses have a single, bundled performance obligation, as these businesses generally provide interrelated products and services and integrate these products and services into a combined output specified by the customer. The customer obtains control of this combined output, generally integrated window systems or installed window and curtainwall systems, over time. We measure progress on these contracts following an input method, by comparing total costs incurred to-date to the total estimated costs for the contract, and record that proportion of the total contract price as revenue in the period. Contract costs include materials, labor and other direct costs related to contract performance. We believe this method of recognizing revenue is consistent with our progress in satisfying our contract obligations. Due to the nature of the work required under these long-term contracts, the estimation of total revenue and costs incurred throughout a project is subject to many variables and requires significant judgment. It is common for these contracts to contain potential bonuses or penalties which are generally awarded or charged upon certain project milestones or cost or timing targets, and these can be based on customer discretion. We estimate variable consideration at the most likely amount to which we expect to be entitled. We include estimated amounts in the transaction price to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on our assessments of anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. Long-term contracts are often modified to account for changes in contract specifications and requirements of work to be performed. We consider contract modifications to exist when the modification, generally through a change order, either creates new or changes existing enforceable rights and obligations, and we evaluate these types of modifications to determine whether they may be considered distinct performance obligations. In most cases, these contract modifications are for goods or services that are not distinct from the existing contract, due to the significant integration service provided in the context of the contract. Therefore, these modifications are accounted for as part of the existing contract. The effect of a contract modification on the transaction price and our measure of progress is recognized as an adjustment to revenue, generally on a cumulative catch-up basis. Typically, under these fixed-price contracts, we bill our customers following an agreed-upon schedule based on work performed. Because the progress billings do not generally correspond to our measurement of revenue on a contract, we generate contract assets when we have recognized revenue in excess of the amount billed to the customer. We generate contract liabilities when we have billed the customer in excess of revenue recognized on a contract. Finally, we have one business, making up approximately 23 percent of our total revenue in the current year, that recognizes revenue following an over-time output method based upon units produced. The customer is considered to have control over the products at the time of production, as the products are highly customized with no alternative use, and we have an enforceable right to payment for performance completed over the production period. We believe this over-time output method of recognizing revenue reasonably depicts the fulfillment of our performance obligations under our contracts. Billings still occur upon shipment. Therefore, contract assets are generated for the unbilled amounts on contracts when production is complete. Variable consideration associated with these orders, generally related to early pay discounts, is not considered significant. Additionally, we have made the following policy elections associated with revenue recognition: •We account for shipping and handling activities that occur after control of the related goods transfers to the customer as fulfillment activities, instead of assessing such activities as performance obligations. •We exclude from the transaction price all sales taxes related to revenue-producing transactions that are collected from the customer for a government authority. We are considered a pass-through conduit for collecting and remitting sales taxes. •We generally expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs primarily relate to sales commissions and are included in selling, general and administrative expenses. •We do not adjust contract price for a significant financing component, as we expect the period between when our goods and services are transferred to the customer and when the customer pays for those goods and services to be less than a year. Shipping and handling Amounts billed to a customer in a sales transaction related to shipping and handling are reported as revenue. Costs we incur for shipping and handling are reported as cost of sales. Research and development Research and development costs are expensed as incurred and were $15.3 million, $16.6 million and $19.5 million for fiscal 2021, 2020 and 2019, respectively. Of these amounts, $9.9 million, $8.0 million and $6.5 million, respectively, were focused primarily upon design of custom window and curtainwall systems in accordance with customer specifications and are included in cost of sales. The remainder of the expense is included within selling, general and administrative expenses. Advertising Advertising costs are expensed as incurred within selling, general and administrative expenses, and were $1.1 million in fiscal 2021, $1.4 million in fiscal 2020 and $1.5 million in fiscal 2019. Income taxes The Company recognizes deferred tax assets and liabilities based upon the future tax consequences of temporary differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. See Note 13 for additional information regarding income taxes. Subsequent events We have evaluated subsequent events for potential recognition and disclosure through the date of this filing. Subsequent to the end of the year, we purchased 173,000 shares of stock under our authorized share repurchase program, at a total cost of $6.2 million. Adoption of new accounting standards In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which revises guidance for the accounting for credit losses on financial instruments within its scope. The new standard introduces an approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including accounts receivable, and modifies the impairment model for available-for-sale debt securities. We adopted this standard at the beginning of fiscal 2021, following the modified retrospective application approach. Additionally, the new guidance makes targeted improvements to the impairment model for certain available-for-sale debt securities, including eliminating the concept of "other than temporary" from that model. The portion of the guidance related to available-for-sale debt securities was adopted following a prospective approach. The adoption of this ASU did not have a significant impact on earnings or financial condition. Refer to additional disclosures in Notes 2 and 4. Accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU removed exceptions on intraperiod tax allocations and reporting and provided simplification on accounting for franchise taxes, tax basis goodwill and tax law changes. We are evaluating the expected impact these amendments will have on our consolidated financial statements, but the impact is not expected to be significant. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We are evaluating the expected impact these amendments and reference rate reform will have on our consolidated financial statements and various contracts but the impact is not expected to be significant.

Revenue, Receivables and Contract Assets and Liabilities

12 Months Ended

Feb. 27, 2021

Revenue from Contract with Customer [Abstract]

Revenue, Receivables and Contract Assets and Liabilities

Revenue

The following table disaggregates total revenue by timing of recognition (see Note 15 for disclosure of revenue by segment):



(In thousands)	February 27, 2021		February 29, 2020		March 2, 2019
Recognized at shipment	$	504,583	$	610,049	$	623,357
Recognized over time	726,191		777,390		779,280
Total	$	1,230,774	$	1,387,439	$	1,402,637

Receivables

Receivables reflected in the financial statements represent the net amount expected to be collected. An allowance for credit losses is established based on expected losses. Expected losses are estimated by reviewing individual accounts, considering aging, financial condition of the debtor, recent payment history, current and forecast economic conditions and other relevant factors. Upon billing, aging of receivables is monitored until collection. An account is considered current when it is within agreed upon payment terms. An account is written off when it is determined that the asset is no longer collectible. Retainage on construction contracts represents amounts withheld by our customers on long-term projects until the project reaches a level of completion where amounts are released.


(In thousands)	2021		2020
Trade accounts	$	120,534	$	141,126
Construction contracts	12,163		20,808
Contract retainage	45,167		37,341

Total receivables	177,864		199,275
Less: allowance for credit losses	1,947		2,469
Receivables, net	$	175,917	$	196,806

The following table summarizes the activity in the allowance for credit losses:


(In thousands)	2021		2020
Beginning balance	$	2,469	$	4,372
Additions charged to costs and expenses	389		1,192
Deductions from allowance, net of recoveries	(887)		(3,085)
Other deductions	(24)		(10)
Ending balance	$	1,947	$	2,469

Contract assets and liabilities

Contract assets consist of retainage, costs and earnings in excess of billings and other unbilled amounts typically generated when revenue recognized exceeds the amount billed to the customer. Contract liabilities consist of billings in excess of costs and earnings and other deferred revenue on contracts. Retainage is classified within receivables and deferred revenue is classified within other current liabilities on our consolidated balance sheets.

The time period between when performance obligations are complete and when payment is due is not significant. In certain of our businesses that recognize revenue over time, progress billings follow an agreed-upon schedule of values, and retainage is withheld by the customer until the project reaches a level of completion where amounts are released.


(In thousands)	February 27, 2021		February 29, 2020
Contract assets	$	74,664	$	110,923
Contract liabilities	25,000		35,954

The decrease in contract assets was due to a reduction in costs and earnings in excess of billings, which is driven by the settlement of matters related to a legacy EFCO project, as well as the timing of projects. The change in contract liabilities was due to timing of project activity from businesses that operate under long-term contracts.

Other contract-related disclosures



(In thousands)	February 27, 2021		February 29, 2020
Revenue recognized related to contract liabilities from prior year-end	$	16,341	$	23,221
Revenue recognized related to prior satisfaction of performance obligations	19,705		15,641

Some of our contracts have an expected duration of longer than a year, with performance obligations extending over that timeframe. Generally these contracts are in our businesses with long-term contracts which recognize revenue over time. As of February 27, 2021, the transaction price associated with unsatisfied performance obligations was approximately $857.5 million. The performance obligations are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods:


(In thousands)	February 27, 2021
Within one year	$	472,728
Within two years	316,847
Beyond	67,946
Total	$	857,521

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Supplemental Balance Sheet Information

12 Months Ended

Feb. 27, 2021

Working Capital [Abstract]

Supplemental Balance Sheet Information

Inventories


(In thousands)	2021		2020
Raw materials	$	36,681	$	36,611
Work-in-process	18,932		17,520
Finished goods	17,210		16,958
Total inventories	$	72,823	$	71,089

Other current liabilities


(In thousands)	2021		2020
Warranties	$	12,298	$	12,822
Accrued project losses	4,572		48,962
Income and other taxes	7,459		5,952
Accrued self-insurance reserves	6,482		8,307
Other	22,372		42,271
Total other current liabilities	$	53,183	$	118,314

Other non-current liabilities


(In thousands)	2021		2020
Deferred benefit from New Markets Tax Credit transactions	$	15,717	$	15,717
Retirement plan obligations	7,730		8,294
Deferred compensation plan	13,507		8,452
Deferred tax liabilities	8,310		7,940
Deferred payroll taxes	6,789		—
Other	16,430		16,459
Total other non-current liabilities	$	68,483	$	56,862

Financial Instruments

12 Months Ended

Feb. 27, 2021

Marketable Securities [Abstract]

Financial Instruments

Marketable Securities

Through our wholly-owned insurance subsidiary, Prism Assurance, Ltd. (Prism), we hold the following available-for-sale marketable securities, made up of municipal and corporate bonds:


(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
February 27, 2021	$	12,517	$	386	$	10	$	12,893




February 29, 2020	11,692		275		—		11,967

Prism insures a portion of our general liability, workers' compensation and automobile liability risks using reinsurance agreements to meet statutory requirements. The reinsurance carrier requires Prism to maintain fixed-maturity investments, for the purpose of providing collateral for Prism's obligations under the reinsurance agreements.

The amortized cost and estimated fair values of our municipal and corporate bonds at February 27, 2021, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities, as borrowers may have the right to call or prepay obligations with or without penalty. Gross realized gains and losses were insignificant for all periods presented.


(In thousands)	Amortized Cost		Estimated Fair Value
Due within one year	$	873	$	881
Due after one year through five years	8,610		8,906
Due after five years through 10 years	2,234		2,277

Due beyond 15 years	800		829
Total	$	12,517	$	12,893

Derivative instruments

We use interest rate swaps, currency swaps, and forward purchase contracts to manage risks generally associated with foreign exchange rate, interest rate and commodity price fluctuations. The information that follows explains the various types of derivatives and financial instruments we use, how such instruments are accounted for, and how such instruments impact our financial position and performance.

In fiscal 2020, we entered into an interest rate swap to hedge a portion of our exposure to variability in cash flows from interest payments on our floating-rate revolving credit facility and term loan facility. As of February 27, 2021, the interest rate swap contract had a notional value of $50 million.

We periodically enter into forward purchase contracts to manage the risk associated with fluctuations in foreign currency rates (primarily related to the Canadian dollar and Euro) and aluminum prices, generally with an original maturity date of less than one year. As of February 27, 2021, we held foreign exchange forward contracts and aluminum purchase contracts with U.S. dollar notional values of $4.0 million and $3.0 million, respectively.

These derivative instruments are recorded within our consolidated balance sheets within other current assets and liabilities. Gains or losses associated with these instruments are recorded as a component of accumulated other comprehensive income.

Fair value measurements

Financial assets and liabilities are classified in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement: Level 1 (unadjusted quoted prices in active markets for identical assets or liabilities); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). We do not have any Level 3 assets or liabilities.

Financial assets and liabilities measured at fair value on a recurring basis were:


(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
February 27, 2021
Assets:
Money market funds	$	26,034	$	—	$	26,034

Municipal and corporate bonds	—		12,893		12,893
Cash surrender value of life insurance	—		18,632		18,632
Foreign currency forward/option contract	—		606		606
Aluminum hedging contract	—		363		363

Liabilities:
Deferred compensation	—		13,507		13,507

Interest rate swap contract	—		504		504
February 29, 2020
Assets:
Money market funds	$	2,689	$	—	$	2,689
Commercial paper	—		1,500		1,500
Municipal and corporate bonds	—		11,967		11,967
Cash surrender value of life insurance	—		16,560		16,560


Liabilities:
Deferred compensation	—		14,042		14,042
Foreign currency forward/option contract	—		340		340
Interest rate swap contract	—		561		561

Money market funds and commercial paper

Fair value of money market funds was determined based on quoted prices for identical assets in active markets. Commercial paper was measured at fair value using inputs based on quoted prices for similar securities in active markets. These assets are included within cash and cash equivalents on our consolidated balance sheets.

Municipal and corporate bonds

Municipal and corporate bonds were measured at fair value based on market prices from recent trades of similar securities and are classified within our consolidated balance sheets as other current or other non-current assets based on maturity date.

Cash surrender value of life insurance and deferred compensation

Contracts insuring the lives of certain employees who are eligible to participate in non-qualified pension and deferred compensation plans are held in trust. Cash surrender value of the contracts is based on performance measurement funds that shadow the deferral investment allocations made by these participants. Changes in cash surrender value are recorded in other expense. The deferred compensation liability balances are valued based on amounts allocated by participants to the underlying performance measurement funds.

Derivative instruments

The interest rate swap is measured at fair value using unobservable market inputs, based off benchmark interest rates. Forward foreign exchange and forward purchase aluminum contracts are measured at fair value using unobservable market inputs, such as quotations on forward foreign exchange points, foreign currency exchange rates and forward purchase aluminum prices. Derivative positions are primarily valued using standard calculations and models that use as their basis readily observable market parameters. Industry standard data providers are our primary source for forward and spot rate information for interest and currency rates and aluminum prices.

Nonrecurring fair value measurements

We measure certain financial instruments at fair value on a nonrecurring basis including goodwill, intangible assets, property and equipment and right-of-use lease assets. These assets were initially measured and recognized at amounts equal to the fair value determined as of the date of acquisition or purchase subject to changes in value only for foreign currency translation.

Periodically, these assets are tested for impairment, by comparing their respective carrying values to the estimated fair value of the reporting unit or asset group in which they reside. In the event any of these assets were to become impaired, we would recognize an impairment expense equal to the amount by which the carrying value of the reporting unit, impaired asset or asset group exceeds its estimated fair value. Fair value measurements of reporting units are estimated using an income approach involving discounted cash flow models that contain certain Level 3 inputs requiring significant management judgment, including projections of economic conditions, customer demand and changes in competition, revenue growth rates, gross profit margins, operating margins, capital expenditures, working capital requirements, terminal growth rates and discount rates. Fair value measurements of the reporting units associated with our goodwill balances and our indefinite-lived intangible assets are estimated at least annually in the fourth quarter of each fiscal year for purposes of impairment testing if a quantitative analysis is performed.

See Note 1 and Note 6 for additional information on the impairment charges recorded to goodwill and indefinite-lived intangible assets during the fourth quarter of fiscal 2021.

Property, Plant and Equipment

12 Months Ended

Feb. 27, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


(In thousands)	2021		2020
Land	$	3,607	$	5,381
Buildings and improvements	204,660		210,171
Machinery and equipment	425,525		418,240
Office equipment and furniture	68,516		60,409
Construction in progress	13,750		17,496
Total property, plant and equipment	716,058		711,697
Less accumulated depreciation	(417,615)		(387,311)
Net property, plant and equipment	$	298,443	$	324,386

Depreciation expense was $43.9 million, $36.1 million, and $37.1 million in fiscal 2021, 2020, and 2019, respectively.

In September 2020, we sold a building in McCook, IL within our LSO segment for $25.1 million. The carrying value of the building was $4.3 million, and we recognized a gain on this sale of approximately $19.3 million, net of associated transaction costs, which is included as a reduction of selling, general and administrative expenses within our consolidated statements of operations. We entered into a separate operating lease agreement for this facility, which commenced in September 2020. Refer to Note 8 for related lease disclosures.

During fiscal 2021, we closed seven facilities within our Architectural Framing Systems segment, exited certain leases for those facilities, and provided certain termination benefits to employees across the company, resulting in restructuring-related costs of $5.8 million, of which $5.2 million is included within cost of sales and $0.6 million is included within selling, general and administrative expenses within our consolidated statements of operations.

Certain amounts associated with the restructuring expense incurred during fiscal 2021 are accrued as of year-end within accrued payroll and related costs and other current liabilities in the consolidated balance sheets, and are expected to be paid within the next fiscal year.


(In thousands)	Architectural Framing		Other		Total
Balance at February 29, 2020	$	—	$	—	$	—
Restructuring expense	5,281		554		5,835
Payments	(716)		(163)		(879)
Other adjustments	(739)		—		(739)
Balance at February 27, 2021	$	3,826	$	391	$	4,217

Goodwill and Other Identifiable Intangible Assets

12 Months Ended

Feb. 27, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

6. Goodwill and Other Intangible Assets

Goodwill

Refer to Note 1 to the Consolidated Financial Statements for a description of the Accounting Policy related to Goodwill.

Goodwill represents the excess of the cost over the net tangible and identified intangible assets of acquired businesses. We evaluate goodwill for impairment annually as of the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Based on the impairment analysis performed in the fourth quarter, estimated fair value was in excess of carrying value at six of our eight reporting units. However, estimated fair value did not exceed carrying value for two reporting units within the Architectural Framing Systems segment, EFCO and Sotawall. For these reporting units, we utilized a weighted-average cost of capital of 12.1 percent in determining the discounted cash flows in the fair value analysis and a long-term growth rate of 3.0 percent. As a result, as of February 27, 2021, we incurred goodwill impairment expense of $46.7 million and $17.1 million in our EFCO and Sotawall reporting units, respectively. The goodwill impairment expense recorded during the year ended February 27, 2021 represents the total accumulated goodwill impairment expenses recorded.

The carrying amount of goodwill attributable to each reporting segment was:


(In thousands)	Architectural Framing Systems		Architectural Glass		Architectural Services		Large-Scale Optical		Total
Balance at March 2, 2019	$	148,446	$	25,709	$	1,120	$	10,557	$	185,832


Foreign currency translation	(263)		(53)		—		—		(316)
Balance at February 29, 2020	148,183		25,656		1,120		10,557		185,516
Adjustment (1)	6,315		—		—		—		6,315
Impairment expense	(63,769)		—		—		—		(63,769)
Foreign currency translation	2,370		(334)		—		—		2,036
Balance at February 27, 2021	$	93,099	$	25,322	$	1,120	$	10,557	$	130,098

(1) During the first quarter of fiscal 2021, we recorded a $6.3 million increase to goodwill and corresponding increase to deferred tax liabilities to correct an immaterial error related to prior periods. The error was not material to any previously reported annual or interim consolidated financial statements.

Indefinite-lived intangible assets

We have intangible assets for certain acquired trade names and trademarks which are determined to have indefinite useful lives. We test indefinite-lived intangible assets for impairment annually at the same measurement date as goodwill, the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. Based on our analysis, the fair value of each of our trade names and trademarks exceeded carrying amount, except for the EFCO tradename, within our Architectural Framing Systems segment. The fair value determined for the EFCO tradename exceeded carrying value by $6.3 million and this amount was recognized as impairment expense in the fourth quarter ended February 27, 2021.

The gross carrying amount of other intangible assets and related accumulated amortization was:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Impairment Expense		Foreign Currency Translation		Net
February 27, 2021
Definite-lived intangible assets:
Customer relationships	$	119,647	$	(40,443)	$	—	$	3,315	$	82,519
Other intangibles	41,293		(34,234)		—		643		7,702
Total definite-lived intangible assets	160,940		(74,677)		—		3,958		90,221
Indefinite-lived intangible assets:
Trademarks	45,300		—		(6,300)		832		39,832
Total intangible assets	$	206,240	$	(74,677)	$	(6,300)	$	4,790	$	130,053
February 29, 2020
Definite-lived intangible assets:
Customer relationships	$	120,239	$	(33,121)	$	—	$	(592)	$	86,526
Other intangibles	41,069		(32,516)		—		(189)		8,364
Total definite-lived intangible assets	161,308		(65,637)		—		(781)		94,890
Indefinite-lived intangible assets:
Trademarks	45,421		—		—		(120)		45,301
Total intangible assets	$	206,729	$	(65,637)	$	—	$	(901)	$	140,191

Amortization expense on definite-lived intangible assets was $7.6 million, $7.7 million and $12.7 million in fiscal 2021, 2020 and 2019, respectively. Amortization expense is included within selling, general and administrative expenses for all intangible assets other than that of debt issuance costs, which is included in interest expense. Estimated future amortization expense for definite-lived intangible assets is:


(In thousands)	2022		2023		2024		2025		2026
Estimated amortization expense	$	8,055	$	7,963	$	7,662	$	7,316	$	7,299

Debt

12 Months Ended

Feb. 27, 2021

Debt Disclosure [Abstract]

Debt

As of February 27, 2021, we had a committed revolving credit facility with maximum borrowings of up to $235 million with a maturity of June 2024. There were no outstanding borrowings under the revolving credit facility, as of February 27, 2021 and borrowings of $47.5 million were outstanding as of February 29, 2020. As of February 27, 2021 and February 29, 2020, we also had a $150 million term loan. The term loan was amended during the third quarter of fiscal 2021 to extend the maturity date to June 2024.

Our revolving credit facility and term loan contain two financial covenants that require us to stay below a maximum debt-to-EBITDA ratio and maintain a minimum ratio of interest expense-to-EBITDA. Both ratios are computed quarterly, with EBITDA calculated on a rolling four-quarter basis. If the Company is not in compliance with either of these covenants, our credit facility and term loan may be terminated and/or any amounts then outstanding may be declared immediately due and payable. At February 27, 2021, we were in compliance with both financial covenants. We have the ability to issue letters of credit of up to $80.0 million under the credit facility, the outstanding amounts of which decrease the available commitment. At February 27, 2021, $216.3 million was available under this revolving credit facility.

Debt at February 27, 2021 also included $15.0 million of industrial revenue bonds that mature in fiscal years 2022 through 2043. The fair value of the industrial revenue bonds approximated carrying value at February 27, 2021, due to the variable interest rates on these instruments. The bonds would be classified as Level 2 within the fair value hierarchy described in Note 4.

We also maintain two Canadian committed, revolving credit facilities totaling $25.0 million (USD). No borrowings were outstanding under the facilities in place as of February 27, 2021 or as of February 29, 2020.

Debt maturities and other selected information follows:


(In thousands)	2022		2023		2024		2025		2026		Thereafter		Total
Maturities	$	2,000	$	1,000	$	—	$	150,000	$	—	$	12,000	$	165,000


(In thousands, except percentages)	2021			2020
Average daily borrowings during the year	$	187,397		$	241,036
Maximum borrowings outstanding during the year	235,232			282,000
Weighted average interest rate during the year	1.89		%	2.91		%


(In thousands)	February 27, 2021		February 29, 2020		March 2, 2019
Interest on debt	$	4,981	$	8,891	$	8,114
Other interest expense	604		326		335
Interest expense	$	5,585	$	9,217	$	8,449

Interest payments were $4.6 million in fiscal February 27, 2021, $9.1 million in fiscal February 29, 2020 and $8.1 million in fiscal March 2, 2019.

Leases Leases (Notes)

12 Months Ended

Feb. 27, 2021

Leases [Abstract]

Lessee, Operating Leases

LeasesWe have operating leases for certain of the buildings and equipment used in our operations. We determine if an arrangement contains a lease at inception. At the beginning of fiscal 2020, we adopted ASU 2016-20, Leases. We elected the package of practical expedients permitted under the transition guidance in adopting ASC 842, which among other things, allowed us to carry forward our historical lease classification. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease expense is recognized on a straight-line basis over

the lease term. Our leases have remaining lease terms of one to ten years, some of which include renewal options that can extend the lease for up to an additional ten years at our sole discretion. We have made an accounting policy election not to record leases with an original term of 12 months or less on our consolidated balance sheet and such leases are expensed on a straight-line basis over the lease term.

In determining lease asset value, we consider fixed or variable payment terms, prepayments, incentives, and options to extend, terminate or purchase. Renewal, termination or purchase options affect the lease term used for determining lease asset value only if the option is reasonably certain to be exercised. We use a discount rate for each lease based upon an estimated incremental borrowing rate over a similar term. We have elected the practical expedient to account for lease and nonlease components (e.g., common-area maintenance costs) as a single lease component. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We are not a lessor in any transactions.

The components of lease expense were as follows:


(In thousands)	February 27, 2021		February 29, 2020
Operating lease cost	$	13,973	$	13,671
Short-term lease cost	1,910		2,121
Variable lease cost	2,827		2,969

Total lease cost	$	18,710	$	18,761

Other supplemental information related to leases for the year ended February 27, 2021 was as follows:


(In thousands)	February 27, 2021			February 29, 2020

Cash paid for amounts included in the measurement of operating lease liabilities	$	13,952		$	13,614
Lease assets obtained in exchange for new operating lease liabilities	$	23,772		$	15,948
Weighted-average remaining lease term - operating leases	6.0 years			5.8 years
Weighted-average discount rate - operating leases	3.0		%	3.6		%

Future maturities of lease liabilities are as follows:


(In thousands)	2021
Fiscal 2022	$	13,731
Fiscal 2023	12,249
Fiscal 2024	10,558
Fiscal 2025	9,290
Fiscal 2026	7,464
Thereafter	12,581
Total lease payments	65,873
Less: Amounts representing interest	4,183
Present value of lease liabilities	$	61,690

Employee Benefit Plans

12 Months Ended

Feb. 27, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

401(k) Retirement Plan

We sponsor a single 401(k) retirement plan covering substantially all full-time, non-union employees, as well as union employees at two of our manufacturing facilities. Under the plan, employees are allowed to contribute up to 60 percent of eligible earnings to the plan, up to statutory limits. We match 100 percent of the first one percent contributed and 50 percent of the next five percent contributed on eligible compensation that non-union employees contribute and according to contract terms for union employees. In response to the effects of COVID-19 on our business, we suspended the matching contribution from June 1, 2020 until December 31, 2020. In total, our matching contributions were $3.5 million in fiscal 2021, $9.0 million in fiscal 2020 and $8.0 million in fiscal 2019.

Deferred Compensation Plan

We maintain a plan that allows participants to defer compensation. The deferred compensation liability was $15.0 million and $14.0 million at February 27, 2021 and February 29, 2020, respectively. We have investments in corporate-owned life insurance policies (COLI) of $18.6 million and money market funds (classified as cash equivalents) of $0.3 million with the intention of utilizing them as long-term funding sources for this plan. The COLI assets are recorded at their net cash surrender values and are included in other non-current assets in the consolidated balance sheet.

Plans under Collective Bargaining Agreements

We contribute to a number of multi-employer union retirement plans, which provide retirement benefits to the majority of our union-represented employees; none of the plans are considered significant. However, the risks of participating in these multi-employer plans are different from single-employer plans in the following aspects:

•Assets contributed to these plans by one employer may be used to provide benefits to employees of other participating employers

•If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers

•If we choose to stop participating in some of these plans, we may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability

Our participation in these plans is outlined in the following table. The most recent Pension Protection Act zone status available in 2021 and 2020 relates to the plan years ending December 31, 2020 and December 31, 2019, respectively. The zone status is based on information that we have received from each plan, certified by an actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are between 65 percent and 80 percent funded, and plans in the green zone are at least 80 percent funded.


		Pension Protection Act Zone Status		Contributions (In thousands)
Pension Fund	EIN/Pension Plan Number	2021	2020	2021		2020		2019		FIP/RP Status Pending/Implemented	Minimum Contribution	Surcharge Imposed	Expiration Date of Collective Bargaining Agreement(1)
Atlanta Ironworkers Local Union 387 Pension Plan	58-6051152	Green	Green	$	209	$	35	$	61	No	No	No	1/31/2017
Glazier's Union Local 27 Pension and Retirement Plan	36-6034076	Green	Green	290		165		58		No	No	No	5/31/2017
International Painters and Allied Trades Industry Pension Fund	52-6073909	Red	Red	932		525		544		Implemented	No	No	11/30/2017

Iron Workers Local Union No. 5 and Iron Workers Employers Assocation Employees Pension Trsut Fund	52-1075473	Green	Green	1,454		940		858		No	No	No	5/31/2017
Iron Workers Mid-America Pension Fund	36-6488227	Green	Green	431		767		446		No	No	No	5/31/2017

Iron Workers St. Louis District Council Pension Trust Fund	43-6052659	Green	Green	63		217		225		No	No	No

Western Glaziers Retirement Plan (Washington)	91-6123685	Green	Green	160		526		532		No	No	No	6/30/2017
Other funds				584		751		963
Total contributions				$	4,123	$	3,926	$	3,687
(1) Plans include contributions required by collective bargaining agreements which have expired, but contain provisions automatically renewing their terms in the absence of a subsequent negotiated agreement.

The Company was listed in the plans' Forms 5500 as providing more than 5 percent of the total contributions for the following plans and plan years:


Pension Fund						Year contributions to Plan Exceeded More Than 5 Percent of Total Contributions
Iron Workers Local Union No. 5 and Iron Workers Employers Assocation Employees Pension Trsut Fund						2021, 2020 and 2019
Iron Workers Mid-America Pension Fund						2021 and 2020
Iron Workers St. Louis District Council Pension Trust Fund						2020
Western Glaziers Retirement Plan (Washington)						2020

Amounts contributed in fiscal 2021, 2020, and 2019 to defined contribution multiemployer plans were $1.5 million, $0.9 million and $1.3 million, respectively.

Obligations and Funded Status of Defined-Benefit Pension Plans

We sponsor the Tubelite Inc. Hourly Employees' Pension Plan, a defined-benefit pension plan that was frozen to new entrants in fiscal 2004, with no additional benefits accruing to plan participants after such time. We also sponsor an unfunded SERP, a defined-benefit pension plan that was frozen to new entrants in fiscal 2009, with no additional benefits accruing to plan participants after such time.

The following tables present reconciliations of the benefit obligation and the funded status of these plans. The Tubelite plan uses a measurement date as of the calendar month-end closest to our fiscal year-end, while the SERP uses a measurement date aligned with our fiscal year-end.


(In thousands)	2021		2020
Change in projected benefit obligation
Benefit obligation beginning of period	$	14,371	$	13,310
Interest cost	346		492
Actuarial (gain) loss	(175)		1,567
Benefits paid	(1,001)		(998)
Benefit obligation at measurement date	13,541		14,371
Change in plan assets
Fair value of plan assets beginning of period	$	5,986	$	5,330
Actual return on plan assets	(88)		1,002
Company contributions	654		652
Benefits paid	(1,001)		(998)
Fair value of plan assets at measurement date	5,551		5,986
Underfunded status	$	(7,990)	$	(8,385)

The funded status was recognized in the consolidated balance sheets as follows:


(In thousands)	2021		2020
Other non-current assets	$	423	$	591
Current liabilities	(683)		(682)
Other non-current liabilities	(7,730)		(8,294)
Total	$	(7,990)	$	(8,385)

The following was included in accumulated other comprehensive loss and has not yet been recognized as a component of net periodic benefit cost:


(In thousands)	2021		2020
Net actuarial loss	$	5,416	$	5,553

The net actuarial gain recognized in comprehensive earnings, net of tax expense, was $0.1 million in fiscal 2021, while the net actuarial loss recognized in comprehensive earnings, net of tax benefit, was $0.4 million in fiscal 2020.

Components of the defined-benefit pension plans' net periodic benefit cost:


(In thousands)	2021		2020		2019
Interest cost	$	346	$	492	$	506
Expected return on assets	(211)		(182)		(40)
Amortization of unrecognized net loss	260		219		226
Net periodic benefit cost	$	395	$	529	$	692

Total net periodic pension benefit cost is expected to be approximately $0.5 million in fiscal 2022. The estimated net actuarial gain for the defined-benefit pension plans that will be amortized from accumulated other comprehensive loss into net periodic benefit cost for fiscal 2022 is $0.2 million, net of tax expense.

Additional Information

Assumptions


Benefit Obligation Weighted-Average Assumptions	2021		2020		2019
Discount rate	2.60	%	3.80	%	3.80	%


Net Periodic Benefit Expense Weighted-Average Assumptions	2021		2020		2019
Discount rate	2.50	%	2.50	%	3.85	%
Expected long-term rate of return on assets	4.50	%	4.50	%	4.50	%

Discount rate. The discount rate reflects the current rate at which the defined-benefit plans' pension liabilities could be effectively settled at the end of the year based on the measurement date. The discount rate was determined by matching the expected benefit payments to payments from the Principal Discount Yield Curve. There are no known or anticipated changes in the discount rate assumption that will have a significant impact on pension expense in fiscal 2022.

Expected return on assets. To develop the expected long-term rate of return on assets, we considered historical long-term rates of return achieved by the plan investments, the plan's investment strategy, and current and projected market conditions. During fiscal 2019, the assets of the Tubelite plan were moved from investment in a short-term bond fund to various duration fixed income funds. The investments are carried at fair value based on prices from recent trades of similar securities, which would be classified as Level 2 in the valuation hierarchy. We do not maintain assets intended for the future use of the SERP.

Contributions

Company contributions to the plans for fiscal 2021 and fiscal 2020 were $0.7 million in each year, which equaled or exceeded the minimum funding requirements.

Estimated Future Benefit Payments

The following benefit payments, which reflect expected future service, are expected to be paid by the plans:


(In thousands)	2022		2023		2024		2025		2026		2027-2031
Estimated future benefit payments	$	1,053	$	1,007	$	971	$	935	$	919	$	4,136

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Commitments and Contingent Liabilities

12 Months Ended

Feb. 27, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingent Liabilities

Bond commitments

In the ordinary course of business, predominantly in the Architectural Services and Architectural Framing Systems segments, we are required to provide surety or performance bonds that commit payments to our customers for any non-performance. At February 27, 2021, $1.1 billion of these types of bonds were outstanding, of which, $532.4 million is on our backlog. These bonds do not have stated expiration dates, as we are released from the bonds upon completion of the contract. We have never been required to make payments under surety or performance bonds with respect to our existing businesses.

Warranty and project-related contingencies

We reserve estimated exposures on known claims, as well as on a portion of anticipated claims, for product warranty and rework costs based on historical product liability claims as a ratio of sales. Claim costs are deducted from the accrual when paid. Factors that could have an impact on the warranty accrual in any given period include the following: changes in manufacturing quality, changes in product mix and any significant changes in sales volume. A warranty rollforward follows:


(In thousands)	2021		2020
Balance at beginning of period	$	15,629	$	16,737
Additional accruals	5,758		8,224

Claims paid	(6,388)		(9,332)
Balance at end of period	$	14,999	$	15,629

Additionally, we are subject to project management and installation-related contingencies as a result of our fixed-price material supply and installation service contracts, primarily in our Architectural Services segment and certain of our Architectural Framing Systems businesses. We manage the risk of these exposures through contract negotiations, proactive project management and insurance coverages. The liability for these types of project-related contingencies was $4.6 million and $49.0 million as of February 27, 2021 and February 29, 2020, respectively. In the second quarter of fiscal 2021, we settled contract claims related to a majority of these project-related contingencies on a legacy EFCO project for an amount equal to the recorded contingency. During fiscal 2020, we received $15.0 million of insurance proceeds related to this project matter, which was included within cost of sales on our consolidated results of operations.

Letters of credit

At February 27, 2021, we had $18.7 million of ongoing letters of credit, all of which have been issued under our revolving credit facility, as discussed in Note 7. In connection with the settlement of contract claims related to a legacy EFCO project referenced above, the original project performance and payment bond related to the project was replaced, which required a $25.0 million letter of credit. The letter of credit for the replacement bond was issued outside of our committed revolving credit facility, with no impact on our borrowing capacity and debt covenants.

Purchase obligations

Purchase obligations, primarily for raw material commitments and capital expenditures totaled $253.5 million as of February 27, 2021.

Environmental liability

In fiscal 2008, we acquired one manufacturing facility which has certain historical environmental conditions. Remediation of these conditions is ongoing without significant disruption to our operations. The estimated remaining liability for these remediation activities was $0.5 million and $0.7 million at February 27, 2021 and February 29, 2020, respectively.

New Markets Tax Credit (NMTC) transactions

As of year-end fiscal 2021, we have three outstanding NMTC arrangements which help to support operational expansion. Proceeds received from investors on these transactions are included within other non-current liabilities on our consolidated balance sheets. The NMTC arrangements are subject to 100 percent tax credit recapture for a period of seven years from the date of each respective transaction. Upon the termination of each arrangement, these proceeds will be recognized in earnings in exchange for the transfer of tax credits. The direct and incremental costs incurred in structuring these arrangements have been deferred and are included in other non-current assets on our consolidated balance sheets. These costs will be recognized in conjunction with the recognition of the related proceeds on each arrangement. During the construction phase for each project, we are required to hold cash dedicated to fund each capital project which is classified as restricted cash on our consolidated balance sheets. Variable-interest entities, which have been included within our consolidated financial statements, have been created as a result of the structure of these transactions, as investors in the programs do not have a material interest in their underlying economics. During the third quarter of fiscal 2021, we settled one arrangement at the end of the seven year term and as a result, $7.4 million of operating income was recognized as a reduction to selling, general and administrative expenses within the Architectural Glass segment.

The table below provides a summary of our outstanding NMTC transactions (in millions):


Inception date	Termination date	Proceeds received		Deferred costs		Net benefit

June 2016	June 2023	$	6.0	$	1.2	$	4.8
August 2018	August 2025	6.6		1.3		5.3
September 2018	September 2025	3.2		1.0		2.2
Total		$	15.8	$	3.5	$	12.3

Litigation

From time to time, the Company is a party to various legal proceedings incidental to its normal operating activities. In particular, like others in the construction supply and services industry, the Company is routinely involved in various disputes

and claims arising out of construction projects, sometimes involving significant monetary damages or product replacement. We have in the past and are currently subject to product liability and warranty claims, including certain legal claims related to a commercial sealant product. The Company is also subject to litigation arising out of areas such as employment practices, workers compensation and general liability matters. Although it is very difficult to accurately predict the outcome of any such proceedings, facts currently available indicate that no matters will result in losses that would have a material adverse effect on the results of operations, cash flows or financial condition of the Company.

Shareholders' Equity

12 Months Ended

Feb. 27, 2021

Equity [Abstract]

Stockholders' Equity

Shareholders' Equity

A class of 200,000 shares of junior preferred stock with a par value of $1.00 is authorized, but unissued.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program, with subsequent increases in authorization. We repurchased 1,177,704 shares under the program during fiscal 2021, for a total cost of $32.9 million. We repurchased 686,997 shares under the program, for a total cost of $25.1 million, in fiscal 2020, and 1,257,983 shares under the program, for a total cost of $43.3 million, in fiscal 2019. The Company has repurchased a total of 7,132,616 shares, at a total cost of $207.3 million, since the inception of this program. We have remaining authority to repurchase 1,117,384 shares under this program, which has no expiration date.

In addition to the shares repurchased under this repurchase plan, during fiscal 2021, 2020 and 2019, the Company also withheld $3.0 million, $2.3 million and $2.0 million, respectively, of Company stock from employees in order to satisfy stock-for-stock option exercises or tax obligations related to stock-based compensation, pursuant to terms of board and shareholder-approved compensation plans.

Accumulated Other Comprehensive Loss

The following summarizes the accumulated other comprehensive loss, net of tax, at February 27, 2021 and February 29, 2020:


(In thousands)	2021		2020
Net unrealized gain on marketable securities	$	302	$	222
Foreign currency hedge	643		(832)
Pension liability adjustments	(4,152)		(4,257)
Foreign currency translation adjustments	(24,820)		(29,195)

Total accumulated other comprehensive loss	$	(28,027)	$	(34,062)

Stock-Based Compensation

12 Months Ended

Feb. 27, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Share-Based Compensation

We have a 2019 Stock Incentive Plan and a 2019 Non-Employee Director Stock Plan (the Plans) that provide for the issuance of 1,150,000 and 150,000 shares, respectively, for various forms of stock-based compensation to employees and non-employee directors. We also have a 2009 Stock Incentive Plan and 2009 Non-Employee Director Stock Incentive Plan with shares reserved for issuance for outstanding unvested awards. Awards under these Plans may be in the form of incentive stock options (to employees only), nonstatutory options, stock-settled stock appreciation rights (SARs), or nonvested share awards and units, all of which are granted at a price or with an exercise price equal to the fair market value of the Company’s stock at the date of award. No additional awards can be made under the 2009 Stock Incentive Plan or the 2009 Non-Employee Director Stock Incentive Plan. Nonvested share awards and units generally vest over a two, three or four-year period.

Total stock-based compensation expense was $8.6 million in fiscal 2021, $6.6 million in fiscal 2020 and $6.3 million in fiscal 2019. We account for any forfeitures as they occur.

Stock Options and SARs

In June 2020, we granted 660,600 stock options which had a weighted average fair value per option at the date of grant of $5.01.

The fair value of each award grant is estimated on the date of grant using the binomial lattice option-pricing model with the following weighted-average assumptions used for grants in fiscal 2021.


	2021
Dividend yield	3.3		%
Expected volatility	40.0		%
Risk-free interest rate	0.7		%
Maximum price	$	35.70

The expected stock price volatility is based on historical experience. The risk-free rate for periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant.

Stock option and SAR activity for the current fiscal year is summarized below:



	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value at Year-End
Outstanding at February 29, 2020	100,341	$	8.34
Awards granted	660,600	23.04
Awards exercised	(127,241)	11.45

Outstanding at February 27, 2021	633,700	$	23.04	9.3 years	$	9,099,932
Vested or expected to vest at February 27, 2021	633,700	$	23.04	9.3 years	$	9,099,932
Exercisable at February 27, 2021	215,600	$	23.04	9.3 years	$	3,096,016

Cash proceeds from the exercise of stock options were $1.5 million for fiscal 2021 and $0.2 million for fiscal 2019. The aggregate intrinsic value of securities exercised (the amount by which the stock price on the date of exercise exceeded the stock price of the award on the date of grant) was $1.8 million in fiscal 2021 and $0.6 million in fiscal 2019. No awards were issued or exercised during fiscal 2020.

Nonvested Share Awards and Units

The following table summarizes nonvested share activity for fiscal February 27, 2021:



	Number of Shares and Units	Weighted Average Grant Date Fair Value
February 29, 2020	309,259	$	40.58
Granted	387,858	21.66
Vested	(219,081)	35.51
Canceled	(2,809)	34.03
February 27, 2021	475,227	$	27.52

At February 27, 2021, there was $7.9 million of total unrecognized compensation cost related to nonvested share and nonvested share unit awards, which is expected to be recognized over a weighted average period of approximately 29 months. The total fair value of shares vested during fiscal February 27, 2021 was $6.1 million.

Earnings per Share

12 Months Ended

Feb. 27, 2021

Earnings Per Share [Abstract]

Earnings per Share

Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:


(In thousands)	2021	2020	2019
Basic earnings per share - weighted average common shares outstanding	25,955	26,474	27,802
Weighted average effect of nonvested share grants and assumed exercise of stock options	349	255	280
Diluted earnings per share - weighted average common shares and potential common shares outstanding	26,304	26,729	28,082
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	111	99	134

Business Segment Data

12 Months Ended

Feb. 29, 2020

Segment Reporting [Abstract]

Business Segment Data

We have four reporting segments:

•The Architectural Framing Systems segment designs, engineers, fabricates and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront and entrance systems comprising the outside skin and entrances of commercial, institutional and high-end multi-family residential buildings.

•The Architectural Glass segment fabricates coated, high-performance glass used globally in customized window and wall systems comprising the outside skin of commercial, institutional and high-end multi-family residential buildings.

•The Architectural Services segment provides full-service installation of the walls of glass, windows and other curtainwall products making up the outside skin of commercial and institutional buildings.

•The Large-Scale Optical Technologies (LSO) segment manufactures value-added glass and acrylic products for framing and display applications.


(In thousands)	2021		2020		2019
Net Sales
Architectural Framing Systems	$	570,850	$	686,596	$	720,829
Architectural Glass	330,256		387,191		367,203
Architectural Services	295,807		269,140		286,314
Large-Scale Optical	70,050		87,911		88,493
Intersegment elimination	(36,189)		(43,399)		(60,202)
Total	$	1,230,774	$	1,387,439	$	1,402,637

Operating (Loss) Income
Architectural Framing Systems	$	(44,761)	$	36,110	$	49,660
Architectural Glass	18,678		20,760		16,503
Architectural Services	31,182		23,582		30,509
Large-Scale Optical	31,203		22,642		23,003
Corporate and other	(10,775)		(15,246)		(52,391)
Total	$	25,527	$	87,848	$	67,284
Depreciation and Amortization
Architectural Framing Systems	$	27,298	$	25,432	$	28,937
Architectural Glass	15,102		13,570		13,009
Architectural Services	1,430		1,305		1,234
Large-Scale Optical	3,338		3,256		3,692
Corporate and other	4,272		3,232		2,926
Total	$	51,440	$	46,795	$	49,798


(In thousands)	2021		2020		2019
Capital Expenditures
Architectural Framing Systems	$	9,907	$	22,744	$	19,098
Architectural Glass	9,574		19,862		27,722
Architectural Services	1,480		1,749		1,433
Large-Scale Optical	869		3,153		6,989
Corporate and other	4,335		3,920		5,475
Total	$	26,165	$	51,428	$	60,717
Identifiable Assets
Architectural Framing Systems	$	511,608	$	604,870	$	617,001
Architectural Glass	271,520		291,104		281,817
Architectural Services	79,465		107,538		59,227
Large-Scale Optical	64,474		62,831		61,031
Corporate and other	88,032		62,648		49,092
Total	$	1,015,099	$	1,128,991	$	1,068,168

Due to the varying combinations and integration of individual window, storefront and curtainwall systems, the Company has determined that it is impractical to report product revenues generated by class of product beyond the segment revenues currently reported.

Segment operating income is equal to net sales less cost of sales and operating expenses. Operating income does not include interest expense or a provision for income taxes. Corporate and other includes miscellaneous corporate activity, including certain legal, consulting and advisory costs not allocable to our segments. Corporate and other also includes $16.7 million in fiscal 2020 and $40.9 million in fiscal 2019, of project-related charges on acquired contracts, as well as $15.0 million of insurance proceeds related to a project matter in fiscal 2020. Identifiable assets for Corporate and other include all short- and long-term available-for-sale securities.

The following table presents net sales, based on the location in which the sale originated, and long-lived assets, representing property, plant and equipment, net of related depreciation, by geographic region.


(In thousands)	2021		2020		2019
Net Sales
United States	$	1,115,872	$	1,254,311	$	1,259,319
Canada	102,721		120,498		128,735
Brazil	12,181		12,630		14,583
Total	$	1,230,774	$	1,387,439	$	1,402,637

Long-Lived Assets
United States	$	285,007	$	307,782	$	297,072
Canada	9,707		11,130		12,563
Brazil	3,729		5,474		6,188
Total	$	298,443	$	324,386	$	315,823

Apogee's export net sales from U.S. operations were $33.1 million, $54.7 million, and $56.3 million in fiscal 2021, 2020, and 2019, respectively, representing approximately 3 percent of consolidated net sales in each of these fiscal years.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Schedule - Valuation and Qualifying Accounts

12 Months Ended

Feb. 27, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Financial Statement Schedules - Valuation and Qualifying Accounts


(In thousands)	Balance at Beginning of Period		Charged to Costs and Expenses		Deductions from Reserves(1)		Other Changes(2)		Balance at End of Period
Allowances for credit losses
For the year ended February 27, 2021	$	2,469	$	389	$	887	$	(24)	$	1,947
For the year ended February 29, 2020	4,372		1,192		3,085		(10)		2,469
For the year ended March 2, 2019	1,530		3,090		223		(25)		4,372

(1) Net of recoveries

(2) Result of foreign currency effects

All other schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission have been omitted because they are not applicable or the required information is shown in the financial statements or notes thereto.

Summary of Significant Accounting Policies and Related Data (Policies)	12 Months Ended
	Feb. 27, 2021
Accounting Policies [Abstract]
Basis of Consolidation	Basis of consolidationThe consolidated financial statements include the balances of Apogee Enterprises, Inc. and its subsidiaries (Apogee, we, us, our or the Company) after elimination of intercompany balances and transactions. We consolidate variable interest entities related to our New Market Tax Credit transactions as it has been determined that the Company is the primary beneficiary of those entities' operations (refer to Note 10 for more information).
Fiscal Year	Fiscal yearOur fiscal year ends on the Saturday closest to the last day of February, or as determined by the Board of Directors. Fiscal 2021, 2020 and 2019 each consisted of 52 weeks.
Accounting Estimates	Accounting estimatesThe preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ significantly from those estimates.
Reclassifications	Reclassifications Certain reclassifications of amounts previously reported have been made to the accompanying consolidated results of operations to maintain consistency and comparability between periods presented. These reclassifications had no impact on previously reported operating income or net earnings within the consolidated results of operations.
Cash Equivalents	Cash equivalentsHighly liquid investments with an original maturity of three months or less are included in cash equivalents and are stated at cost, which approximates fair value
Marketable securities	Marketable securities To the extent the amortized cost basis of the available-for-sale securities exceeds the fair value, the Company assesses the debt securities for credit loss. When assessing the risk of credit loss, the Company considers factors such as the severity and the reason of the decline in value, such as any changes to the rating of the security by a rating agency or other adverse conditions specifically related to the security, and management's intended holding period and time horizon for selling. During fiscal 2021, 2020, and 2019, the Company did not recognize any credit losses related to its available-for-sale securities. Further, as of February 27, 2021 and February 29, 2020, the Company did not record an allowance for credit losses related to its available-for-sale securities. Marketable securities are included in other current and non-current assets on the consolidated balance sheets and gross realized gains and losses are included in other income (expense), net in our consolidated results of operations.
Inventories	InventoriesInventories, which consist primarily of purchased glass and aluminum, are valued at lower of cost or market using the first-in, first-out (FIFO) method.
Property, Plant and Equipment	Property, plant and equipment Property, plant and equipment (PP&E) is recorded at cost. Significant improvements and renewals that extend the useful life of the asset are capitalized. Repairs and maintenance are charged to expense as incurred. When an asset is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any related gains or losses are included in selling, general and administrative expenses. Long-lived assets to be held and used, such as PP&E, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Depreciation is computed on a straight-line basis, based on estimated useful lives of 10 to 25 years for buildings and improvements; 3 to 10 years for machinery and equipment; and 3 to 7 years for office equipment and furniture.
Impairment of long-lived assets	Impairment of long-lived assets Long-lived assets or asset groups, including definite-lived intangible assets ("intangible assets") subject to amortization and property and equipment, are reviewed for impairment whenever events or changes in circumstances such as asset utilization, physical change, legal factors or other matters indicate that the carrying value of those assets may not be recoverable. When this review indicates the carrying value of an asset or asset group exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset or asset group, an asset impairment expense is recognized in earnings in the period such a determination is made. The amount of the impairment expense recorded is the amount by which the carrying value of the impaired asset or asset group exceeds its fair value based on discounted cash flows.
Goodwill and Intangible Assets	Goodwill and intangible assets Goodwill Goodwill represents the excess of the cost over the net tangible and identified intangible assets of acquired businesses. We have historically evaluated goodwill for impairment annually at our year-end, or more frequently if events or changes in circumstances indicate the carrying value of the goodwill may not be recoverable. In the third quarter of fiscal 2021, we changed the date of our annual goodwill impairment testing from our fiscal year-end to the first day in our fiscal fourth quarter. This change results in better alignment of the annual impairment test with our strategic and annual planning processes. This change was determined to not be material to and had no impact on our current or historical consolidated financial statements. Evaluating goodwill for impairment involves the determination of the fair value of each reporting unit in which goodwill is recorded using a qualitative or quantitative analysis. A reporting unit is an operating segment or a component of an operating segment for which discrete financial information is available and reviewed by segment management on a regular basis. During the third quarter of fiscal 2021, we combined two reporting units into one reporting unit, following certain structural and leadership changes at the Company, specifically within the Architectural Framing Systems segment. Within this segment, as a result of integration efforts that are ongoing, leadership over the Tubelite and Alumicor reporting units has been combined and functional leaders in areas such as operations, sales, marketing and administration are responsible for allocating resources and reviewing results of the combined business. The goodwill of the individual reporting units was therefore aggregated to the combined reporting unit. We evaluated goodwill on a qualitative basis prior to and subsequent to this change and concluded that no adjustment to the carrying value of goodwill was necessary as a result of this change. In addition, no qualitative indicators of impairment were identified during the third quarter of fiscal 2021, and therefore, no interim quantitative goodwill impairment evaluation was performed. Following this change, we have eight reporting units, six of which have goodwill. If the fair value of a reporting unit exceeds the carrying value, goodwill impairment is not indicated. If the carrying amount of a reporting unit is determined to be higher than its estimated fair value, the excess is recognized as an impairment expense. We estimate the fair value of a reporting unit using both the income approach and the market approach. The income approach uses a discounted cash flow methodology that involves significant judgment and projections of future performance. Assumptions about future revenues and future operating expenses, capital expenditures and changes in working capital are based on the annual operating plan and other business plans for each reporting unit. These plans take into consideration numerous factors, including historical experience, current and future operational plans, anticipated future economic conditions and growth expectations for the industries and end markets in which we participate. These projections are discounted using a weighted-average cost of capital, which considers the risk inherent in our projections of future cash flows. We determine the weighted-average cost of capital for this analysis by weighting the required returns on interest bearing debt and common equity capital in proportion to their estimated percentages in an expected capital structure, using published data where possible. We used discount rates that are commensurate with the risks and uncertainties inherent in the respective businesses and in the internally developed forecasts. The market approach uses a multiple of earnings and revenue based on guidelines for publicly traded companies. Intangible assets We have intangible assets for certain acquired trade names and trademarks which are determined to have indefinite useful lives. We test indefinite-lived intangible assets for impairment annually at the same measurement date as goodwill, the first day of our fiscal fourth quarter, or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, an impairment expense is recognized in an amount equal to that excess. If an impairment expense is recognized, the adjusted carrying amount becomes the asset's new accounting basis. Fair value of indefinite-lived intangible assets is measured using the relief-from-royalty method. This method assumes the trade name or trademark has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from the asset. This method requires estimation of future revenue from the related asset, the appropriate royalty rate, and the weighted average cost of capital. The assessment of fair value involves significant judgment and projections about future performance. Definite-lived intangible assets are amortized based on estimated useful lives ranging from 18 months to 30 years and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The estimated useful lives of all intangible assets are reviewed annually, and we have determined that the remaining lives were appropriate.
Leases	Leases On March 3, 2019, we adopted ASU 2016-02, Leases, which results in recognizing a right-of-use asset and lease liability on our consolidated balance sheet at lease commencement for leases with terms greater than twelve months. The initial lease liability is recognized at the present value of remaining lease payments over the lease term. Leases with an initial term of twelve months or less are not recorded on our consolidated balance sheet. We recognize lease expense for operating leases on a straight-line basis over the lease term. We combine lease and non-lease components, such as common area maintenance costs, in calculating the related asset and lease liabilities for all underlying asset groups. Refer to additional information in Note 8.
Self-Insurance	Self-Insurance We obtain commercial insurance to provide coverage for potential losses in areas such as employment practices, workers' compensation, directors and officers, automobile, architect's and engineer's errors and omissions, product rework and general liability. A substantial portion of this risk is retained on a self-insured basis through our wholly-owned insurance subsidiary. We establish a reserve for estimated ultimate losses on reported claims and those incurred but not yet reported utilizing actuarial projections. Reserves are classified within other current liabilities or long-term self-insurance reserves based on expectations of when the estimated loss will be paid. Additionally, we maintain a self-insurance reserve for health insurance programs offered to eligible employees, included within accrued self-insurance reserves. The reserve includes an estimate for losses on reported claims as well as for amounts incurred but not yet reported, based on historical trends.
Warranty	Warranty and project-related contingenciesWe are subject to claims associated with our products and services, principally as a result of disputes with our customers involving the performance or aesthetics of our architectural products and services. We reserve estimated exposures on known claims, as well as on a portion of anticipated claims for product warranty and rework costs, based on historical product liability claims as a ratio of sales. We also reserve for estimated exposures on other claims as they are known and reasonably estimable. Reserves are included in other current and non-current liabilities based on the estimated timing of dispute resolution.
Foreign Currency	Foreign currencyLocal currencies are considered the functional currencies for our subsidiaries outside of the United States. Assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the consolidated balance sheets.
Derivatives and hedging activities	Derivatives and hedging activities We are exposed to, among other risks, the impact of changes in aluminum prices, foreign currency exchange rates, and interest rates in the normal course of business. In order to manage the exposure and volatility arising from these risks, we utilize derivative financial instruments to offset a portion of these risks. We use derivative financial instruments only to the extent necessary to hedge identified business risks, and do not hold or issue derivative financial instruments for trading purposes and are not a party to leveraged derivatives. All derivative instruments within the scope of ASC 815, Derivatives and Hedging, are recorded as either assets or liabilities at fair value on the consolidated balance sheets. All hedging instruments that qualify for hedge accounting are designated and effective as hedges with changes recognized in other comprehensive earnings (loss). Instruments that do not qualify for hedge accounting are marked to market with changes recognized in current earnings. Cash flows from derivative instruments are classified in the statements of cash flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. Please refer to Note 4 for further disclosure on derivatives.
Revenue Recognition	Revenue recognition On March 4, 2018, we adopted ASC 606, Revenue from Contracts with Customers, and as a result, made updates to our significant accounting policy for revenue recognition. We generate revenue from the design, engineering and fabrication of architectural glass, curtainwall, window, storefront and entrance systems, and from installing those products on commercial buildings. We also manufacture value-added glass and acrylic products. Due to the diverse nature of our operations and various types of contracts with customers, we have businesses that recognize revenue over time and businesses that recognize revenue at a point in time. During fiscal 2021, approximately 41 percent of our total revenue is recognized at the time products are shipped from our manufacturing facilities, which is when control is transferred to our customer, consistent with past practices. These businesses do not generate contract-related assets or liabilities. Variable consideration associated with these contracts and orders, generally related to early pay discounts or volume rebates, is not considered significant. We also have three businesses which operate under long-term, fixed-price contracts, representing approximately 36 percent of our total revenue in the current year. The contracts for these businesses have a single, bundled performance obligation, as these businesses generally provide interrelated products and services and integrate these products and services into a combined output specified by the customer. The customer obtains control of this combined output, generally integrated window systems or installed window and curtainwall systems, over time. We measure progress on these contracts following an input method, by comparing total costs incurred to-date to the total estimated costs for the contract, and record that proportion of the total contract price as revenue in the period. Contract costs include materials, labor and other direct costs related to contract performance. We believe this method of recognizing revenue is consistent with our progress in satisfying our contract obligations. Due to the nature of the work required under these long-term contracts, the estimation of total revenue and costs incurred throughout a project is subject to many variables and requires significant judgment. It is common for these contracts to contain potential bonuses or penalties which are generally awarded or charged upon certain project milestones or cost or timing targets, and these can be based on customer discretion. We estimate variable consideration at the most likely amount to which we expect to be entitled. We include estimated amounts in the transaction price to the extent that it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on our assessments of anticipated performance and all information (historical, current and forecasted) that is reasonably available to us. Long-term contracts are often modified to account for changes in contract specifications and requirements of work to be performed. We consider contract modifications to exist when the modification, generally through a change order, either creates new or changes existing enforceable rights and obligations, and we evaluate these types of modifications to determine whether they may be considered distinct performance obligations. In most cases, these contract modifications are for goods or services that are not distinct from the existing contract, due to the significant integration service provided in the context of the contract. Therefore, these modifications are accounted for as part of the existing contract. The effect of a contract modification on the transaction price and our measure of progress is recognized as an adjustment to revenue, generally on a cumulative catch-up basis. Typically, under these fixed-price contracts, we bill our customers following an agreed-upon schedule based on work performed. Because the progress billings do not generally correspond to our measurement of revenue on a contract, we generate contract assets when we have recognized revenue in excess of the amount billed to the customer. We generate contract liabilities when we have billed the customer in excess of revenue recognized on a contract. Finally, we have one business, making up approximately 23 percent of our total revenue in the current year, that recognizes revenue following an over-time output method based upon units produced. The customer is considered to have control over the products at the time of production, as the products are highly customized with no alternative use, and we have an enforceable right to payment for performance completed over the production period. We believe this over-time output method of recognizing revenue reasonably depicts the fulfillment of our performance obligations under our contracts. Billings still occur upon shipment. Therefore, contract assets are generated for the unbilled amounts on contracts when production is complete. Variable consideration associated with these orders, generally related to early pay discounts, is not considered significant. Additionally, we have made the following policy elections associated with revenue recognition: •We account for shipping and handling activities that occur after control of the related goods transfers to the customer as fulfillment activities, instead of assessing such activities as performance obligations. •We exclude from the transaction price all sales taxes related to revenue-producing transactions that are collected from the customer for a government authority. We are considered a pass-through conduit for collecting and remitting sales taxes. •We generally expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs primarily relate to sales commissions and are included in selling, general and administrative expenses. •We do not adjust contract price for a significant financing component, as we expect the period between when our goods and services are transferred to the customer and when the customer pays for those goods and services to be less than a year. Shipping and handlingAmounts billed to a customer in a sales transaction related to shipping and handling are reported as revenue. Costs we incur for shipping and handling are reported as cost of sales.
Research and Development	Research and developmentResearch and development costs are expensed as incurred and were $15.3 million, $16.6 million and $19.5 million for fiscal 2021, 2020 and 2019, respectively. Of these amounts, $9.9 million, $8.0 million and $6.5 million, respectively, were focused primarily upon design of custom window and curtainwall systems in accordance with customer specifications and are included in cost of sales. The remainder of the expense is included within selling, general and administrative expenses.
Advertising	AdvertisingAdvertising costs are expensed as incurred within selling, general and administrative expenses, and were $1.1 million in fiscal 2021, $1.4 million in fiscal 2020 and $1.5 million in fiscal 2019.
Income Taxes	Income taxes The Company recognizes deferred tax assets and liabilities based upon the future tax consequences of temporary differences between financial statement carrying amounts of assets and liabilities and their respective tax bases. See Note 13 for additional information regarding income taxes.
Subsequent Events	Subsequent events We have evaluated subsequent events for potential recognition and disclosure through the date of this filing. Subsequent to the end of the year, we purchased 173,000 shares of stock under our authorized share repurchase program, at a total cost of $6.2 million.
New Accounting Standards	Adoption of new accounting standards In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments, which revises guidance for the accounting for credit losses on financial instruments within its scope. The new standard introduces an approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including accounts receivable, and modifies the impairment model for available-for-sale debt securities. We adopted this standard at the beginning of fiscal 2021, following the modified retrospective application approach. Additionally, the new guidance makes targeted improvements to the impairment model for certain available-for-sale debt securities, including eliminating the concept of "other than temporary" from that model. The portion of the guidance related to available-for-sale debt securities was adopted following a prospective approach. The adoption of this ASU did not have a significant impact on earnings or financial condition. Refer to additional disclosures in Notes 2 and 4. Accounting standards not yet adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this ASU removed exceptions on intraperiod tax allocations and reporting and provided simplification on accounting for franchise taxes, tax basis goodwill and tax law changes. We are evaluating the expected impact these amendments will have on our consolidated financial statements, but the impact is not expected to be significant. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this ASU provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The amendments in this ASU provide optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. We are evaluating the expected impact these amendments and reference rate reform will have on our consolidated financial statements and various contracts but the impact is not expected to be significant.

Revenue, Receivables and Contract Assets and Liabilities (Tables)

12 Months Ended

Feb. 27, 2021

Revenue from Contract with Customer [Abstract]

Disaggregated revenue data

The following table disaggregates total revenue by timing of recognition (see Note 15 for disclosure of revenue by segment):



(In thousands)	February 27, 2021		February 29, 2020		March 2, 2019
Recognized at shipment	$	504,583	$	610,049	$	623,357
Recognized over time	726,191		777,390		779,280
Total	$	1,230,774	$	1,387,439	$	1,402,637

Net receivables


(In thousands)	2021		2020
Trade accounts	$	120,534	$	141,126
Construction contracts	12,163		20,808
Contract retainage	45,167		37,341

Total receivables	177,864		199,275
Less: allowance for credit losses	1,947		2,469
Receivables, net	$	175,917	$	196,806

Allowance for Credit Losses

The following table summarizes the activity in the allowance for credit losses:


(In thousands)	2021		2020
Beginning balance	$	2,469	$	4,372
Additions charged to costs and expenses	389		1,192
Deductions from allowance, net of recoveries	(887)		(3,085)
Other deductions	(24)		(10)
Ending balance	$	1,947	$	2,469

Contract assets and liabilities


(In thousands)	February 27, 2021		February 29, 2020
Contract assets	$	74,664	$	110,923
Contract liabilities	25,000		35,954

Performance obligations expected to be satisfied

The performance obligations are expected to be satisfied, and the corresponding revenue to be recognized, over the following estimated time periods:


(In thousands)	February 27, 2021
Within one year	$	472,728
Within two years	316,847
Beyond	67,946
Total	$	857,521

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Feb. 27, 2021

Working Capital [Abstract]

Inventories


(In thousands)	2021		2020
Raw materials	$	36,681	$	36,611
Work-in-process	18,932		17,520
Finished goods	17,210		16,958
Total inventories	$	72,823	$	71,089

Other Current Liabilities

Other current liabilities


(In thousands)	2021		2020
Warranties	$	12,298	$	12,822
Accrued project losses	4,572		48,962
Income and other taxes	7,459		5,952
Accrued self-insurance reserves	6,482		8,307
Other	22,372		42,271
Total other current liabilities	$	53,183	$	118,314

Other non-current liabilities


(In thousands)	2021		2020
Deferred benefit from New Markets Tax Credit transactions	$	15,717	$	15,717
Retirement plan obligations	7,730		8,294
Deferred compensation plan	13,507		8,452
Deferred tax liabilities	8,310		7,940
Deferred payroll taxes	6,789		—
Other	16,430		16,459
Total other non-current liabilities	$	68,483	$	56,862

Financial Instruments (Tables)

12 Months Ended

Feb. 27, 2021

Marketable Securities [Abstract]

Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale


(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
February 27, 2021	$	12,517	$	386	$	10	$	12,893




February 29, 2020	11,692		275		—		11,967

Schedule of amortized cost and estimated fair values of investments by contractual maturity


(In thousands)	Amortized Cost		Estimated Fair Value
Due within one year	$	873	$	881
Due after one year through five years	8,610		8,906
Due after five years through 10 years	2,234		2,277

Due beyond 15 years	800		829
Total	$	12,517	$	12,893

Schedule of financial assets and liabilities measured at fair value on a recurring basis

Financial assets and liabilities measured at fair value on a recurring basis were:


(In thousands)	Quoted Prices in Active Markets (Level 1)		Other Observable Inputs (Level 2)		Total Fair Value
February 27, 2021
Assets:
Money market funds	$	26,034	$	—	$	26,034

Municipal and corporate bonds	—		12,893		12,893
Cash surrender value of life insurance	—		18,632		18,632
Foreign currency forward/option contract	—		606		606
Aluminum hedging contract	—		363		363

Liabilities:
Deferred compensation	—		13,507		13,507

Interest rate swap contract	—		504		504
February 29, 2020
Assets:
Money market funds	$	2,689	$	—	$	2,689
Commercial paper	—		1,500		1,500
Municipal and corporate bonds	—		11,967		11,967
Cash surrender value of life insurance	—		16,560		16,560


Liabilities:
Deferred compensation	—		14,042		14,042
Foreign currency forward/option contract	—		340		340
Interest rate swap contract	—		561		561

Property, Plant and Equipment (Tables)

12 Months Ended

Feb. 27, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


(In thousands)	2021		2020
Land	$	3,607	$	5,381
Buildings and improvements	204,660		210,171
Machinery and equipment	425,525		418,240
Office equipment and furniture	68,516		60,409
Construction in progress	13,750		17,496
Total property, plant and equipment	716,058		711,697
Less accumulated depreciation	(417,615)		(387,311)
Net property, plant and equipment	$	298,443	$	324,386

Restructuring and Related Costs


(In thousands)	Architectural Framing		Other		Total
Balance at February 29, 2020	$	—	$	—	$	—
Restructuring expense	5,281		554		5,835
Payments	(716)		(163)		(879)
Other adjustments	(739)		—		(739)
Balance at February 27, 2021	$	3,826	$	391	$	4,217

Goodwill and Other Identifiable Intangible Assets (Tables)

12 Months Ended

Feb. 27, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill attributable to each business segment


(In thousands)	Architectural Framing Systems		Architectural Glass		Architectural Services		Large-Scale Optical		Total
Balance at March 2, 2019	$	148,446	$	25,709	$	1,120	$	10,557	$	185,832


Foreign currency translation	(263)		(53)		—		—		(316)
Balance at February 29, 2020	148,183		25,656		1,120		10,557		185,516
Adjustment (1)	6,315		—		—		—		6,315
Impairment expense	(63,769)		—		—		—		(63,769)
Foreign currency translation	2,370		(334)		—		—		2,036
Balance at February 27, 2021	$	93,099	$	25,322	$	1,120	$	10,557	$	130,098

Schedule of finite lived intangible assets


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Impairment Expense		Foreign Currency Translation		Net
February 27, 2021
Definite-lived intangible assets:
Customer relationships	$	119,647	$	(40,443)	$	—	$	3,315	$	82,519
Other intangibles	41,293		(34,234)		—		643		7,702
Total definite-lived intangible assets	160,940		(74,677)		—		3,958		90,221
Indefinite-lived intangible assets:
Trademarks	45,300		—		(6,300)		832		39,832
Total intangible assets	$	206,240	$	(74,677)	$	(6,300)	$	4,790	$	130,053
February 29, 2020
Definite-lived intangible assets:
Customer relationships	$	120,239	$	(33,121)	$	—	$	(592)	$	86,526
Other intangibles	41,069		(32,516)		—		(189)		8,364
Total definite-lived intangible assets	161,308		(65,637)		—		(781)		94,890
Indefinite-lived intangible assets:
Trademarks	45,421		—		—		(120)		45,301
Total intangible assets	$	206,729	$	(65,637)	$	—	$	(901)	$	140,191

Schedule of estimated future amortization expense for identifiable intangible assets

Estimated future amortization expense for definite-lived intangible assets is:


(In thousands)	2022		2023		2024		2025		2026
Estimated amortization expense	$	8,055	$	7,963	$	7,662	$	7,316	$	7,299

Debt (Tables)

12 Months Ended

Feb. 27, 2021

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

Debt maturities and other selected information follows:


(In thousands)	2022		2023		2024		2025		2026		Thereafter		Total
Maturities	$	2,000	$	1,000	$	—	$	150,000	$	—	$	12,000	$	165,000

Selected Information Related to Long-term Debt


(In thousands, except percentages)	2021			2020
Average daily borrowings during the year	$	187,397		$	241,036
Maximum borrowings outstanding during the year	235,232			282,000
Weighted average interest rate during the year	1.89		%	2.91		%

Schedule of Interest Expense


(In thousands)	February 27, 2021		February 29, 2020		March 2, 2019
Interest on debt	$	4,981	$	8,891	$	8,114
Other interest expense	604		326		335
Interest expense	$	5,585	$	9,217	$	8,449

Leases Leases (Tables)

12 Months Ended

Feb. 27, 2021

Leases [Abstract]

Schedule of components of lease expense

The components of lease expense were as follows:


(In thousands)	February 27, 2021		February 29, 2020
Operating lease cost	$	13,973	$	13,671
Short-term lease cost	1,910		2,121
Variable lease cost	2,827		2,969

Total lease cost	$	18,710	$	18,761

Other supplemental information related to leases for the year ended February 27, 2021 was as follows:


(In thousands)	February 27, 2021			February 29, 2020

Cash paid for amounts included in the measurement of operating lease liabilities	$	13,952		$	13,614
Lease assets obtained in exchange for new operating lease liabilities	$	23,772		$	15,948
Weighted-average remaining lease term - operating leases	6.0 years			5.8 years
Weighted-average discount rate - operating leases	3.0		%	3.6		%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future maturities of lease liabilities are as follows:


(In thousands)	2021
Fiscal 2022	$	13,731
Fiscal 2023	12,249
Fiscal 2024	10,558
Fiscal 2025	9,290
Fiscal 2026	7,464
Thereafter	12,581
Total lease payments	65,873
Less: Amounts representing interest	4,183
Present value of lease liabilities	$	61,690

Employee Benefit Plans (Tables)

12 Months Ended

Feb. 27, 2021

Retirement Benefits [Abstract]

Multiemployer Plan


		Pension Protection Act Zone Status		Contributions (In thousands)
Pension Fund	EIN/Pension Plan Number	2021	2020	2021		2020		2019		FIP/RP Status Pending/Implemented	Minimum Contribution	Surcharge Imposed	Expiration Date of Collective Bargaining Agreement(1)
Atlanta Ironworkers Local Union 387 Pension Plan	58-6051152	Green	Green	$	209	$	35	$	61	No	No	No	1/31/2017
Glazier's Union Local 27 Pension and Retirement Plan	36-6034076	Green	Green	290		165		58		No	No	No	5/31/2017
International Painters and Allied Trades Industry Pension Fund	52-6073909	Red	Red	932		525		544		Implemented	No	No	11/30/2017

Iron Workers Local Union No. 5 and Iron Workers Employers Assocation Employees Pension Trsut Fund	52-1075473	Green	Green	1,454		940		858		No	No	No	5/31/2017
Iron Workers Mid-America Pension Fund	36-6488227	Green	Green	431		767		446		No	No	No	5/31/2017

Iron Workers St. Louis District Council Pension Trust Fund	43-6052659	Green	Green	63		217		225		No	No	No

Western Glaziers Retirement Plan (Washington)	91-6123685	Green	Green	160		526		532		No	No	No	6/30/2017
Other funds				584		751		963
Total contributions				$	4,123	$	3,926	$	3,687
(1) Plans include contributions required by collective bargaining agreements which have expired, but contain provisions automatically renewing their terms in the absence of a subsequent negotiated agreement.

The Company was listed in the plans' Forms 5500 as providing more than 5 percent of the total contributions for the following plans and plan years:


Pension Fund						Year contributions to Plan Exceeded More Than 5 Percent of Total Contributions
Iron Workers Local Union No. 5 and Iron Workers Employers Assocation Employees Pension Trsut Fund						2021, 2020 and 2019
Iron Workers Mid-America Pension Fund						2021 and 2020
Iron Workers St. Louis District Council Pension Trust Fund						2020
Western Glaziers Retirement Plan (Washington)						2020

Schedule of Defined Benefit Plans Disclosures


(In thousands)	2021		2020
Change in projected benefit obligation
Benefit obligation beginning of period	$	14,371	$	13,310
Interest cost	346		492
Actuarial (gain) loss	(175)		1,567
Benefits paid	(1,001)		(998)
Benefit obligation at measurement date	13,541		14,371
Change in plan assets
Fair value of plan assets beginning of period	$	5,986	$	5,330
Actual return on plan assets	(88)		1,002
Company contributions	654		652
Benefits paid	(1,001)		(998)
Fair value of plan assets at measurement date	5,551		5,986
Underfunded status	$	(7,990)	$	(8,385)

Schedule of Amounts Recognized in Balance Sheet

The funded status was recognized in the consolidated balance sheets as follows:


(In thousands)	2021		2020
Other non-current assets	$	423	$	591
Current liabilities	(683)		(682)
Other non-current liabilities	(7,730)		(8,294)
Total	$	(7,990)	$	(8,385)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized as Components of Net Periodic Benefit Cost

The following was included in accumulated other comprehensive loss and has not yet been recognized as a component of net periodic benefit cost:


(In thousands)	2021		2020
Net actuarial loss	$	5,416	$	5,553

Schedule of Net Benefit Costs

Components of the defined-benefit pension plans' net periodic benefit cost:


(In thousands)	2021		2020		2019
Interest cost	$	346	$	492	$	506
Expected return on assets	(211)		(182)		(40)
Amortization of unrecognized net loss	260		219		226
Net periodic benefit cost	$	395	$	529	$	692

Schedule of Assumptions Used


Benefit Obligation Weighted-Average Assumptions	2021		2020		2019
Discount rate	2.60	%	3.80	%	3.80	%


Net Periodic Benefit Expense Weighted-Average Assumptions	2021		2020		2019
Discount rate	2.50	%	2.50	%	3.85	%
Expected long-term rate of return on assets	4.50	%	4.50	%	4.50	%

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, are expected to be paid by the plans:


(In thousands)	2022		2023		2024		2025		2026		2027-2031
Estimated future benefit payments	$	1,053	$	1,007	$	971	$	935	$	919	$	4,136

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 715
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-Section 50
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-Subparagraph (c)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 715
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 80
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 80
-Section 50
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-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450691-114947

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450657-114947

+ Details

Commitments and Contingent Liabilities (Tables)

12 Months Ended

Feb. 27, 2021

Commitments and Contingencies Disclosure [Abstract]

Guarantees and warranties

A warranty rollforward follows:


(In thousands)	2021		2020
Balance at beginning of period	$	15,629	$	16,737
Additional accruals	5,758		8,224

Claims paid	(6,388)		(9,332)
Balance at end of period	$	14,999	$	15,629

Outstanding NMTC transactions

The table below provides a summary of our outstanding NMTC transactions (in millions):


Inception date	Termination date	Proceeds received		Deferred costs		Net benefit

June 2016	June 2023	$	6.0	$	1.2	$	4.8
August 2018	August 2025	6.6		1.3		5.3
September 2018	September 2025	3.2		1.0		2.2
Total		$	15.8	$	3.5	$	12.3

Shareholders' Equity (Tables)

12 Months Ended

Feb. 27, 2021

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following summarizes the accumulated other comprehensive loss, net of tax, at February 27, 2021 and February 29, 2020:


(In thousands)	2021		2020
Net unrealized gain on marketable securities	$	302	$	222
Foreign currency hedge	643		(832)
Pension liability adjustments	(4,152)		(4,257)
Foreign currency translation adjustments	(24,820)		(29,195)

Total accumulated other comprehensive loss	$	(28,027)	$	(34,062)

Stock-Based Compensation (Tables)

12 Months Ended

Feb. 27, 2021

Share-based Payment Arrangement [Abstract]

Stock Options Weighted Average Assumptions

The fair value of each award grant is estimated on the date of grant using the binomial lattice option-pricing model with the following weighted-average assumptions used for grants in fiscal 2021.


	2021
Dividend yield	3.3		%
Expected volatility	40.0		%
Risk-free interest rate	0.7		%
Maximum price	$	35.70

Award transactions on stock options



	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value at Year-End
Outstanding at February 29, 2020	100,341	$	8.34
Awards granted	660,600	23.04
Awards exercised	(127,241)	11.45

Outstanding at February 27, 2021	633,700	$	23.04	9.3 years	$	9,099,932
Vested or expected to vest at February 27, 2021	633,700	$	23.04	9.3 years	$	9,099,932
Exercisable at February 27, 2021	215,600	$	23.04	9.3 years	$	3,096,016

Nonvested share award transactions

The following table summarizes nonvested share activity for fiscal February 27, 2021:



	Number of Shares and Units	Weighted Average Grant Date Fair Value
February 29, 2020	309,259	$	40.58
Granted	387,858	21.66
Vested	(219,081)	35.51
Canceled	(2,809)	34.03
February 27, 2021	475,227	$	27.52

Income Taxes (Tables)

12 Months Ended

Feb. 27, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Earnings before income taxes consisted of the following:


(In thousands)	2021		2020		2019
United States	$	45,651	$	97,297	$	60,042
International	(23,040)		(17,547)		(1,380)
Earnings before income taxes	$	22,611	$	79,750	$	58,662

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for each of the last three fiscal years are as follows:


(In thousands)	2021		2020		2019
Current
Federal	$	11,495	$	8,493	$	22,746
State and local	702		2,064		(4,437)
International	1,642		(2,720)		(459)
Total current	13,839		7,837		17,850
Deferred
Federal	(2,860)		9,513		(12,409)
State and local	538		2,152		6,275
International	(4,138)		(1,202)		628
Total deferred	(6,460)		10,463		(5,506)
Total non-current tax (benefit) expense	(204)		(464)		624
Total income tax expense	$	7,175	$	17,836	$	12,968

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation of the statutory federal income tax rate to our consolidated effective tax rates:


	2021		2020		2019
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%

State and local income taxes, net of federal tax benefit	1.0		4.0		2.7
Foreign tax rate differential	4.6		(0.3)		0.8
Nondeductible goodwill impairment expense	5.6		—		—
Research & development tax credit	(5.3)		(1.6)		(2.7)
§162(m) Executive Compensation Limitation	3.6		—		—
Other, net	1.2		(0.7)		0.3
Consolidated effective income tax rate	31.7	%	22.4	%	22.1	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and deferred tax liabilities at February 27, 2021 and February 29, 2020 were:


(In thousands)	2021		2020
Deferred tax assets
Accrued expenses	$	6,309	$	15,832

Deferred compensation	9,452		7,934
Employment tax accrual	1,483		—
Goodwill and other intangibles	4,215		—
Liability for unrecognized tax benefits	1,916		1,941
Unearned income	5,778		5,238
Operating lease liabilities	16,039		6,640
Net operating losses and tax credits	9,952		11,093
Other	1,984		1,502
Total deferred tax assets	57,128		50,180
Less: valuation allowance	(7,435)		(8,727)
Deferred tax assets, net of valuation allowance	49,693		41,453


(In thousands)	2021		2020
Deferred tax liabilities
Accrued expenses	1,095		—
Goodwill and other intangibles	3,263		8,166
Depreciation	34,573		32,296
Operating lease, right-of-use assets	15,435		6,666



Other	820		—
Total deferred tax liabilities	55,186		47,128
Net deferred tax liabilities	$	(5,493)	$	(5,675)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table provides a reconciliation of the total amounts of gross unrecognized tax benefits:


(In thousands)	2021		2020		2019
Gross unrecognized tax benefits at beginning of year	$	4,071	$	5,111	$	4,705
Gross increases in tax positions for prior years	106		82		500
Gross decreases in tax positions for prior years	(351)		(1,100)		(377)
Gross increases based on tax positions related to the current year	429		425		1,067

Settlements	(96)		(15)		(303)
Statute of limitations expiration	(404)		(432)		(481)


Gross unrecognized tax benefits at end of year	$	3,755	$	4,071	$	5,111

Earnings per Share (Tables)

12 Months Ended

Feb. 27, 2021

Earnings Per Share [Abstract]

Reconciliation of basic and diluted earnings per share

The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:


(In thousands)	2021	2020	2019
Basic earnings per share - weighted average common shares outstanding	25,955	26,474	27,802
Weighted average effect of nonvested share grants and assumed exercise of stock options	349	255	280
Diluted earnings per share - weighted average common shares and potential common shares outstanding	26,304	26,729	28,082
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	111	99	134

Business Segment Data (Tables)

12 Months Ended

Feb. 27, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


(In thousands)	2021		2020		2019
Net Sales
Architectural Framing Systems	$	570,850	$	686,596	$	720,829
Architectural Glass	330,256		387,191		367,203
Architectural Services	295,807		269,140		286,314
Large-Scale Optical	70,050		87,911		88,493
Intersegment elimination	(36,189)		(43,399)		(60,202)
Total	$	1,230,774	$	1,387,439	$	1,402,637

Operating (Loss) Income
Architectural Framing Systems	$	(44,761)	$	36,110	$	49,660
Architectural Glass	18,678		20,760		16,503
Architectural Services	31,182		23,582		30,509
Large-Scale Optical	31,203		22,642		23,003
Corporate and other	(10,775)		(15,246)		(52,391)
Total	$	25,527	$	87,848	$	67,284
Depreciation and Amortization
Architectural Framing Systems	$	27,298	$	25,432	$	28,937
Architectural Glass	15,102		13,570		13,009
Architectural Services	1,430		1,305		1,234
Large-Scale Optical	3,338		3,256		3,692
Corporate and other	4,272		3,232		2,926
Total	$	51,440	$	46,795	$	49,798


(In thousands)	2021		2020		2019
Capital Expenditures
Architectural Framing Systems	$	9,907	$	22,744	$	19,098
Architectural Glass	9,574		19,862		27,722
Architectural Services	1,480		1,749		1,433
Large-Scale Optical	869		3,153		6,989
Corporate and other	4,335		3,920		5,475
Total	$	26,165	$	51,428	$	60,717
Identifiable Assets
Architectural Framing Systems	$	511,608	$	604,870	$	617,001
Architectural Glass	271,520		291,104		281,817
Architectural Services	79,465		107,538		59,227
Large-Scale Optical	64,474		62,831		61,031
Corporate and other	88,032		62,648		49,092
Total	$	1,015,099	$	1,128,991	$	1,068,168

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas


(In thousands)	2021		2020		2019
Net Sales
United States	$	1,115,872	$	1,254,311	$	1,259,319
Canada	102,721		120,498		128,735
Brazil	12,181		12,630		14,583
Total	$	1,230,774	$	1,387,439	$	1,402,637

Long-Lived Assets
United States	$	285,007	$	307,782	$	297,072
Canada	9,707		11,130		12,563
Brazil	3,729		5,474		6,188
Total	$	298,443	$	324,386	$	315,823

Summary of Significant Accounting Policies and Related Data (Details Textual) $ in Thousands		12 Months Ended
	Apr. 22, 2021 USD ($) shares	Feb. 27, 2021 USD ($) business shares	Feb. 29, 2020 USD ($) shares	Mar. 02, 2019 USD ($) shares
Accounting Policies [Line Items]
Fixed-price contracts, number of businesses \| business		3
Fixed-price contracts, percentage of total revenue		36.00%
Number of businesses \| business		1
Percentage of total revenue		23.00%
Research and development expense		$ 15,300	$ 16,600	$ 19,500
Share repurchases, shares \| shares		1,177,000	687,000	1,258,000
Share repurchases, value		$ 32,878	$ 25,140	$ 43,326
Intangible Asset Life Minimum		18 months
Intangible Asset Life Maximum		30 years
Building and Building Improvements [Member] \| Minimum
Accounting Policies [Line Items]
Estimated useful lives		10 years
Building and Building Improvements [Member] \| Maximum
Accounting Policies [Line Items]
Estimated useful lives		25 years
Machinery and Equipment [Member] \| Minimum
Accounting Policies [Line Items]
Estimated useful lives		3 years
Machinery and Equipment [Member] \| Maximum
Accounting Policies [Line Items]
Estimated useful lives		10 years
Furniture and Fixtures [Member] \| Minimum
Accounting Policies [Line Items]
Estimated useful lives		3 years
Furniture and Fixtures [Member] \| Maximum
Accounting Policies [Line Items]
Estimated useful lives		7 years
Cost of Sales
Accounting Policies [Line Items]
Research and development expense		$ 9,900	8,000	6,500
Selling, general and administrative expenses
Accounting Policies [Line Items]
Advertising expense		$ 1,100	$ 1,400	$ 1,500
Subsequent Event
Accounting Policies [Line Items]
Share repurchases, shares \| shares	173,000
Share repurchases, value	$ 6,200
Recognized at shipment
Accounting Policies [Line Items]
Percentage of total revenue		41.00%

Revenue, Receivables and Contract Assets and Liabilities (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Disaggregation of Revenue [Line Items]
Total	$ 1,230,774	$ 1,387,439	$ 1,402,637
Recognized at shipment
Disaggregation of Revenue [Line Items]
Total	504,583	610,049	623,357
Recognized over time
Disaggregation of Revenue [Line Items]
Total	$ 726,191	$ 777,390	$ 779,280

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue, Receivables and Contract Assets and Liabilities (Details 2) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 177,864	$ 199,275
Less: allowance for credit losses	1,947	2,469	$ 4,372
Receivables, net	175,917	196,806
Trade accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	120,534	141,126
Construction contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	12,163	20,808
Contract retainage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total receivables	$ 45,167	$ 37,341

Revenue, Receivables and Contract Assets and Liabilities (Details 3) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 74,664	$ 110,923
Contract liabilities	$ 25,000	$ 35,954

Revenue, Receivables and Contract Assets and Liabilities (Details 4) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognized related to contract liabilities from prior year-end	$ 16,341	$ 23,221
Revenue recognized related to prior satisfaction of performance obligations	$ 19,705	$ 15,641

Revenue, Receivables and Contract Assets and Liabilities (Details 5) $ in Thousands	Feb. 27, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 857,500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	857,521
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	472,728
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	316,847
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 67,946

Revenue, Receivables and Contract Assets and Liabilities (Details 6) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Revenue from Contract with Customer [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ (1,947)	$ (2,469)	$ (4,372)
Additions charged to costs and expenses	389	1,192
Deductions from allowance, net of recoveries	(887)	(3,085)
Other deductions	$ (24)	$ (10)

Revenue, Receivables and Contract Assets and Liabilities (Details Textual) $ in Millions	Feb. 27, 2021 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 857.5

Supplemental Balance Sheet Information (Schedule of Inventory) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Working Capital [Abstract]
Raw materials	$ 36,681	$ 36,611
Work-in-process	18,932	17,520
Finished goods	17,210	16,958
Total inventories	$ 72,823	$ 71,089

Supplemental Balance Sheet Information (Schedule of Other Current Liabilities) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Working Capital [Abstract]
Warranties	$ 12,298	$ 12,822
Accrued project losses	4,572	48,962
Income and other taxes	7,459	5,952
Self Insurance Reserve, Current	6,482	8,307
Other	22,372	42,271
Total other current liabilities	$ 53,183	$ 118,314

Supplemental Balance Sheet Information (Schedule of Other Non-current Liabilities) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Working Capital [Abstract]
Deferred benefit from New Markets Tax Credit transactions	$ 15,717	$ 15,717
Retirement plan obligations	7,730	8,294
Deferred compensation plan	13,507	8,452
Deferred tax liabilities	8,310	7,940
Deferred payroll taxes	6,789	0
Other	16,430	16,459
Total other non-current liabilities	$ 68,483	$ 56,862

Financial Instruments (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale
Amortized Cost	$ 12,517	$ 11,692
Gross Unrealized Gains	(386)	(275)
Gross Unrealized Losses	(10)	0
Estimated Fair Value	12,893	$ 11,967
Municipal bonds
Amortized cost, gross unrealized gains and losses, and estimated fair values of investments available for sale
Amortized Cost	12,517
Estimated Fair Value	$ 12,893

Financial Instruments (Details 2) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Due after 15 years	$ 800
Amortized Cost	12,517	$ 11,692
Estimated Market Value, After 15 years	829
Estimated Fair Value	12,893	$ 11,967
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost, Due within one year	873
Amortized Cost, Due after one year through five years	8,610
Amortized Cost, Due after five years through 10 years	2,234
Amortized Cost	12,517
Estimated Market Value, Due within one year	881
Estimated Market Value, Due after one year through five years	8,906
Estimated Market Value, Due after five years through 10 years	2,277
Estimated Fair Value	$ 12,893

Financial Instruments Financial Instruments (Details 3) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 26,034	$ 2,689
Commercial paper		1,500
Municipal and corporate bonds	12,893	11,967
Cash surrender value of life insurance	18,632	16,560
Deferred Compensation Liab FV Disclosure	13,507	14,042
Quoted Prices in Active Markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	26,034	2,689
Commercial paper		0
Municipal and corporate bonds	0	0
Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Commercial paper		1,500
Municipal and corporate bonds	12,893	11,967
Cash surrender value of life insurance	18,632	16,560
Deferred Compensation Liab FV Disclosure	13,507	14,042
Foreign Exchange Forward [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	606
Derivative Liability		340
Foreign Exchange Forward [Member] \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	606
Derivative Liability		340
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	504	561
Interest Rate Swap [Member] \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Liability	504	$ 561
Aluminum Hedging Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	363
Aluminum Hedging Contract \| Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 363

Financial Instruments (Details Textual) - Designated as Hedging Instrument $ in Millions	Feb. 27, 2021 USD ($)
Interest Rate Swap [Member]
Notional value	$ 50.0
Foreign Exchange Forward
Notional value	4.0
Aluminum Hedging Contract
Notional value	$ 3.0

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 716,058	$ 711,697
Less accumulated depreciation	(417,615)	(387,311)
Net property, plant and equipment	298,443	324,386	$ 315,823
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	3,607	5,381
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	204,660	210,171
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	425,525	418,240
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	68,516	60,409
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 13,750	$ 17,496

Property, Plant and Equipment (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Property, Plant and Equipment [Line Items]
Restructuring Reserve, Beginning balance	$ 4,217	$ 0
Restructuring expense	5,835
Payments	(879)
Other adjustments	(739)
Restructuring Reserve, Ending Balance	4,217	0
Architectural Framing Systems
Property, Plant and Equipment [Line Items]
Restructuring Reserve, Beginning balance	3,826	0
Restructuring expense	5,281
Payments	(716)
Other adjustments	(739)
Restructuring Reserve, Ending Balance	3,826	0
Corporate and other
Property, Plant and Equipment [Line Items]
Restructuring Reserve, Beginning balance	391	0
Restructuring expense	554
Payments	(163)
Other adjustments	0
Restructuring Reserve, Ending Balance	$ 391	$ 0

Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019	Sep. 02, 2020
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 43,900	$ 36,100	$ 37,100
Restructuring expense	5,835
Sale and Leaseback Transaction, Gain (Loss), Net	19,300
Sale Leaseback Transaction, Net Book Value				$ 4,300
Proceeds from Sale-Leaseback Transaction				$ 25,100
Cost of Sales
Property, Plant and Equipment [Line Items]
Restructuring expense	5,200
Selling, general and administrative expenses
Property, Plant and Equipment [Line Items]
Restructuring expense	$ 600

Goodwill and Other Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	$ 185,516	$ 185,832
Adjustment (1)	6,315
Impairment	(63,769)
Foreign currency translation	2,036	(316)
Goodwill, Ending	130,098	185,516
Architectural Framing Systems
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	148,183	148,446
Adjustment (1)	6,315
Impairment	(63,769)
Foreign currency translation	2,370	(263)
Goodwill, Ending	93,099	148,183
Architectural Glass
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	25,656	25,709
Foreign currency translation	(334)	(53)
Goodwill, Ending	25,322	25,656
Architectural Services
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	1,120	1,120
Foreign currency translation	0	0
Goodwill, Ending	1,120	1,120
Large-Scale Optical
Schedule of goodwill attributable to each business segment
Goodwill, Beginning	10,557	10,557
Foreign currency translation	0	0
Goodwill, Ending	$ 10,557	$ 10,557

Goodwill and Other Identifiable Intangible Assets (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	$ 160,940	$ 161,308
Foreign Currency Translation	3,958	(781)
Net	90,221	94,890
Impairment Expense	(70,069)	0	$ (3,141)
Intangible Assets Gross Excluding Goodwill	206,240	206,729
Intangible Assets Accumulated Amortization	(74,677)	(65,637)
Intangible Assets Impairment	6,300	0
Intangible Assets Foreign Currency Translation	4,790	(901)
Intangible Assets, Net (Excluding Goodwill)	130,053	140,191
Customer relationships
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	119,647	120,239
Foreign Currency Translation	3,315	(592)
Net	82,519	86,526
Intangible Assets Accumulated Amortization	(40,443)	(33,121)
Other intangibles
Schedule of finite lived identifiable intangible assets
Gross Carrying Amount	41,293	41,069
Foreign Currency Translation	643	(189)
Net	7,702	8,364
Intangible Assets Accumulated Amortization	(34,234)	(32,516)
Trademarks
Schedule of finite lived identifiable intangible assets
Indefinite-lived Intangible Assets (Excluding Goodwill)	45,300	45,421
Impairment Expense	(6,300)	0
Indefinite-lived Intangible Assets, Translation Adjustments	832	(120)
Indefinite-lived Intangible Assets (Excluding Goodwill), Net of translation adjustments	$ 39,832	$ 45,301

Goodwill and Other Identifiable Intangible Assets (Details 2) $ in Thousands	Feb. 27, 2021 USD ($)
Schedule of estimated future amortization expense for identifiable intangible assets
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	$ 8,055
Estimated amortization expense, Fiscal 2023	7,963
Estimated amortization expense, Fiscal 2024	7,662
Estimated amortization expense, Fiscal 2025	7,316
Estimated amortization expense, Fiscal 2026	$ 7,299

Goodwill and Other Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Finite Lived Intangible Assets [Line Items]
Goodwill, Impairment Loss	$ 63,769
Amortization of Intangible Assets	7,600	$ 7,700	$ 12,700
EFCO Corporation
Finite Lived Intangible Assets [Line Items]
Goodwill, Impairment Loss	46,700
Sotawall
Finite Lived Intangible Assets [Line Items]
Goodwill, Impairment Loss	$ 17,100

Debt (Schedule of Debt Maturities) (Details) $ in Thousands	Feb. 27, 2021 USD ($)
Debt Disclosure [Abstract]
2022	$ 2,000
2023	1,000
2024	0
2025	150,000
2026	0
Thereafter	12,000
Total long-term debt	$ 165,000

Debt (Schedule of Selected Information Related to Long Term Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Debt Disclosure [Abstract]
Average daily borrowings during the year	$ 187,397	$ 241,036
Maximum borrowings outstanding during the year	$ 235,232	$ 282,000
Weighted average interest rate during the year	1.89%	2.91%

Debt (Schedule of Interest Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Debt Disclosure [Abstract]
Interest on debt	$ 4,981	$ 8,891	$ 8,114
Other interest expense	604	326	335
Interest expense	$ 5,585	$ 9,217	$ 8,449

Debt (Details Textual) $ in Thousands, $ in Millions	12 Months Ended
Debt (Details Textual) $ in Thousands, $ in Millions	Feb. 27, 2021 USD ($)	Feb. 29, 2020 USD ($)	Mar. 02, 2019 USD ($)	Feb. 27, 2021 CAD ($)
Debt (Textual) [Abstract]
Amount of available commitment	$ 216,300
Debt	165,000
Interest payments	4,600	$ 9,100	$ 8,100
CANADA
Debt (Textual) [Abstract]
Line of Credit Facility, Amount Outstanding	0
Letter of Credit [Member]
Debt (Textual) [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	80,000
Borrowings under revolving credit agreement
Debt (Textual) [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	235,000
Line of Credit Facility, Amount Outstanding	0	$ 47,500
Term Loan [Member]
Debt (Textual) [Abstract]
Debt	150,000
Line of Credit [Member] \| CANADA
Debt (Textual) [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity				$ 25.0
Industrial Revenue Bonds [Member]
Debt (Textual) [Abstract]
Debt	$ 15,000

Leases Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases Leases (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Leases [Abstract]
Operating lease cost	$ 13,973	$ 13,671
Short-term lease cost	1,910	2,121
Variable lease cost	2,827	2,969
Total lease cost	$ 18,710	$ 18,761

Leases Leases (Details 1) - USD ($) $ in Thousands	12 Months Ended
Leases Leases (Details 1) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 13,952	$ 13,614
Lease assets obtained in exchange for new operating lease liabilities	$ 23,772	$ 15,948
Weighted-average remaining lease term - operating leases	6 years	5 years 9 months 18 days
Weighted-average discount rate - operating leases	3.00%	3.60%

Leases Leases (Details 2) $ in Thousands	Feb. 27, 2021 USD ($)
Leases [Abstract]
Fiscal 2022	$ 13,731
Fiscal 2023	12,249
Fiscal 2024	10,558
Fiscal 2025	9,290
Fiscal 2026	7,464
Thereafter	12,581
Total lease payments	65,873
Less: Amounts representing interest	4,183
Present value of lease liabilities	$ 61,690

Employee Benefit Plans (Multiemployer Plans) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Insignificant, Employer Contribution, Cost	$ 584	$ 751	$ 963
Multiemployer Plan, Employer Contribution, Cost	$ 4,123	$ 3,926	3,687
Atlanta Ironworkers Local Union 387 Pension Plan
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 209	$ 35	61
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	Jan. 31, 2017
Glazier's Union Local 27 Pension and Retirement Plan
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 290	$ 165	58
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	May 31, 2017
International Painters and Allied Trades Industry Pension Fund
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Red	Red
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 932	$ 525	544
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	Implemented
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	Nov. 30, 2017
Iron Workers Local Union No. 5 and Iron Workers Employers Assocation Employees Pension Trsut Fund
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 1,454	$ 940	858
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	May 31, 2017
Iron Workers Mid-America Pension Fund
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 431	$ 767	446
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	May 31, 2017
Iron Workers St. Louis District Council Pension Trust Fund
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 63	$ 217	225
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date
Western Glaziers Retirement Plan (Washington)
Multiemployer Plan [Line Items]
Multiemployer Plan, Pension, Significant, Certified Zone Status [Fixed List]	Green	Green
Multiemployer Plan, Pension, Significant, Employer Contribution, Cost	$ 160	$ 526	$ 532
Multiemployer Plan, Pension, Significant, Funding Improvement or Rehabilitation Plan, Implementation Status [Fixed List]	No
Multiemployer Plan, Pension, Significant, Surcharge [Fixed List]	No
Multiemployer Plan, Pension, Significant, Collective-Bargaining Arrangement, Expiration Date	Jun. 30, 2017

Employee Benefit Plans (Schedule of Changes in Plan Assets, Changes in Projected Benefit Obligation, and Funded Status) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Change in projected benefit obligation
Benefit obligation beginning of period	$ 14,371	$ 13,310
Interest cost	346	492	$ 506
Actuarial (gain) loss	(175)	1,567
Estimated future benefit payments	1,001	998
Benefit obligation at measurement date	13,541	14,371	13,310
Change in plan assets
Fair value of plan assets beginning of period	5,986	5,330
Actual return on plan assets	(88)	1,002
Company contributions	654	652
Fair value of plan assets at measurement date	5,551	5,986	$ 5,330
Underfunded status	$ (7,990)	$ (8,385)

Employee Benefit Plans (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Retirement Benefits [Abstract]
Other non-current assets	$ 423	$ 591
Current liabilities	(683)	(682)
Other non-current liabilities	(7,730)	(8,294)
Total	$ (7,990)	$ (8,385)

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Employee Benefit Plans (Schedule of Accumulated Other Comprehensive Loss That Have Not Yet Been Recognized as Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Retirement Benefits [Abstract]
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	$ (5,416)	$ (5,553)

Employee Benefit Plans (Schedule of Components of Defined Benefit Pension Plans Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Components of net periodic benefit cost
Interest cost	$ 346	$ 492	$ 506
Expected return on assets	(211)	(182)	(40)
Amortization of unrecognized net loss	260	219	226
Net periodic benefit cost	$ 395	$ 529	$ 692

Employee Benefit Plans (Schedule of Assumptions Used) (Details)	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Retirement Benefits [Abstract]
Discount rate	2.60%	3.80%	3.80%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate	2.50%	2.50%	3.85%
Net periodic pension expense, Expected return on plan assets	4.50%	4.50%	4.50%

Employee Benefit Plans (Schedule of Expected Benefit Payments) (Details) $ in Thousands	Feb. 27, 2021 USD ($)
Retirement Benefits [Abstract]
Estimated future benefit payments	$ 1,053
2023	1,007
2024	971
2025	935
2026	919
2027-2031	$ 4,136

Employee Benefit Plans (Details Textual) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details Textual) $ in Thousands	Feb. 26, 2022 USD ($)	Feb. 27, 2021 USD ($) Facility	Feb. 29, 2020 USD ($)	Mar. 02, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of manufacturing facilities \| Facility		2
Percentage employees are allowed to contribute (up to 60 percent)		60.00%
Annual company match amount		$ 3,500	$ 9,000	$ 8,000
Deferred compensation obligations		186	685
Investments in corporate-owned life insurance policies		18,600
Mutual funds		300
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost in the next fiscal year		(260)	(219)	(226)
Net periodic benefit cost		395	529	692
Company contributions		654	652
Net actuarial gain (loss) in comprehensive earnings		100	(400)
Multiemployer Plans Defined Contribution
Defined Benefit Plan Disclosure [Line Items]
Multiemployer Plan, Employer Contribution, Cost		1,500	900	$ 1,300
Scenario, Forecast
Defined Benefit Plan Disclosure [Line Items]
Estimated amortization from accumulated other comprehensive loss into net periodic benefit cost in the next fiscal year	$ 200
Net periodic benefit cost	$ 500
Other current and non-current liabilities
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation obligations		$ 15,000	$ 14,000
First one percent contributed
Defined Benefit Plan Disclosure [Line Items]
Company matching contribution percentage		100.00%
Percentage of eligible compensation contributed		1.00%
Two through six percent
Defined Benefit Plan Disclosure [Line Items]
Company matching contribution percentage		50.00%
Percentage of eligible compensation contributed		5.00%

Commitments and Contingent Liabilities (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020
Guarantees and warranties
Balance at beginning of period	$ 15,629	$ 16,737
Additional accruals	5,758	8,224
Claims paid	(6,388)	(9,332)
Balance at end of period	$ 14,999	$ 15,629

Commitments and Contingent Liabilities (Details 2) $ in Millions	12 Months Ended
	Feb. 27, 2021 USD ($)
Loss Contingencies [Line Items]
Proceeds received	$ 15.8
Deferred costs	3.5
Net benefit	12.3
June 2023
Loss Contingencies [Line Items]
Proceeds received	6.0
Deferred costs	1.2
Net benefit	4.8
August 2025
Loss Contingencies [Line Items]
Proceeds received	6.6
Deferred costs	1.3
Net benefit	5.3
September 2025
Loss Contingencies [Line Items]
Proceeds received	3.2
Deferred costs	1.0
Net benefit	$ 2.2

Commitments and Contingent Liabilities (Details Textual) $ in Millions	12 Months Ended
	Feb. 27, 2021 USD ($) Facility	Feb. 29, 2020 USD ($)
Long-term Purchase Commitment [Line Items]
Face value of performance bonds	$ 1,100.0
Company's backlog bonded by performance bonds	532.4
Project related liability	4.6	$ 49.0
Project Related Insurance Proceeds	15.0	15.0
Total value of letter of credit	18.7
Purchase obligations	$ 253.5
Number of properties acquired with historical environmental conditions \| Facility	1
Current Liabilities and Other Non Current Liabilities
Long-term Purchase Commitment [Line Items]
Reserve for environmental liabilities	$ 0.5	$ 0.7

Shareholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended			206 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019	Feb. 27, 2021
Class of Stock [Line Items]
Junior preferred stock, shares	200,000			200,000
Junior preferred stock par value	$ 1.00			$ 1.00
Share repurchases, shares	1,177,000	687,000	1,258,000
Share repurchases, value	$ 32,878	$ 25,140	$ 43,326
Stock Based Compensation Plans
Class of Stock [Line Items]
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	$ 3,000	$ 2,300	$ 2,000
Share Repurchase Program
Class of Stock [Line Items]
Share repurchases, shares	1,177,704	686,997	1,257,983	7,132,616
Share repurchases, value	$ 32,900	$ 25,100	$ 43,300	$ 207,300
Remaining shares authorized to be repurchased	1,117,384,000			1,117,384,000

Shareholders' Equity (Schedule of Accumulated Other Comprehensive Loss Net of Tax) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Equity [Abstract]
Net unrealized gain on marketable securities	$ 302	$ 222
Foreign currency hedge	643	(832)
Pension liability adjustments	(4,152)	(4,257)
Foreign currency translation adjustments	(24,820)	(29,195)
Total accumulated other comprehensive loss	$ (28,027)	$ (34,062)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Stock-Based Compensation (Details) - USD ($)	12 Months Ended
Stock-Based Compensation (Details) - USD ($)	Feb. 27, 2021	Mar. 02, 2019
Award transactions on stock options
Outstanding shares awards exercised	(127,000)	(19,000)
Award transactions on stock options, Weighted Average Exercise Price
Weighted average exercise price, Beginning	$ 8.34
Weighted average exercise price, Awards granted	23.04
Weighted average exercise price, Awards exercised	11.45
Weighted average exercise price, Ending	$ 23.04
Weighted average remaining contractual life, Outstanding	9 years 3 months 18 days
Aggregate intrinsic value, Outstanding	$ 9,099,932
Weighted average exercise price, vested or expected to vest	$ 23.04
Weighted average remaining contractual life, Vested or expected to vest	9 years 3 months 18 days
Aggregate intrinsic value, Vested or expected to vest	$ 9,099,932
Exercisable, Value	215,600
Weight average exercise price, exercisable	$ 23.04
Weighted average remaining contractual life, Exercisable	9 years 3 months 18 days
Aggregate intrinsic value, Exercisable	$ 3,096,016
Options/SARs Outstanding
Award transactions on stock options
Outstanding, Beginning	100,341
Outstanding Shares Awards Granted	660,600
Outstanding shares awards exercised	(127,241)
Outstanding, Ending	633,700
Award transactions on stock options, Weighted Average Exercise Price
Vested and expected to vest, value	633,700

Stock-Based Compensation (Details 1)	12 Months Ended
Stock-Based Compensation (Details 1)	Feb. 27, 2021 $ / shares shares
Nonvested share award transactions
Nonvested Number, Beginning \| shares	309,259
Number of shares, Granted \| shares	387,858
Number of shares, Vested \| shares	(219,081)
Number of shares, Canceled \| shares	(2,809)
Nonvested Number, Ending \| shares	475,227
Nonvested share award transactions, Wieghted Average Grant Date Fair Value
Weighted average grant date fair value, Beginning \| $ / shares	$ 40.58
Weighted average grant date fair value, Granted \| $ / shares	21.66
Weighted average grant date fair value, Vested \| $ / shares	35.51
Weighted average grant date fair value, Canceled \| $ / shares	34.03
Weighted average grant date fair value, Ending \| $ / shares	$ 27.52

Share-Based Compensation (Details 2)	12 Months Ended
Share-Based Compensation (Details 2)	Feb. 27, 2021 $ / shares
Share-based Payment Arrangement [Abstract]
Dividend yield	3.30%
Expected volatility	40.00%
Risk-free interest rate	0.70%
Maximum price	$ 35.70

Stock-Based Compensation (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from Stock Options Exercised	$ 1,500		$ 200
Award vesting period	3 years
Share-based Payment Arrangement, Noncash Expense	$ 8,573	$ 6,607	6,286
Aggregate intrinsic value of securities	1,800	$ 0	$ 600
Total unrecognized compensation cost related to nonvested share	$ 7,900
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period, Nonvested	29 months
Total fair value of shares vested	$ 6,100
2019 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance	1,150,000
2019 Non-Employee Director Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance	150,000

Income Taxes (Schedule of Earnings (loss) before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Income Tax Disclosure [Abstract]
United States	$ 45,651	$ 97,297	$ 60,042
International	(23,040)	(17,547)	(1,380)
Earnings before income taxes	$ 22,611	$ 79,750	$ 58,662

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Current
Federal	$ 11,495	$ 8,493	$ 22,746
State and local	702	2,064	(4,437)
International	1,642	(2,720)	(459)
Total current	13,839	7,837	17,850
Deferred
Federal	(2,860)	9,513	(12,409)
State and local	538	2,152	6,275
International	(4,138)	(1,202)	628
Total deferred	(6,460)	10,463	(5,506)
Total non-current tax (benefit) expense	(204)	(464)	624
Total income tax expense	$ 7,175	$ 17,836	$ 12,968

Income Taxes (Income Tax Reconciliation) (Details)	12 Months Ended
Income Taxes (Income Tax Reconciliation) (Details)	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
State and local income taxes, net of federal tax benefit	1.00%	4.00%	2.70%
Foreign tax rate differential	4.60%	(0.30%)	0.80%
Nondeductible goodwill impairment expense	5.60%	0.00%	0.00%
Research & development tax credit	(5.30%)	(1.60%)	(2.70%)
§162(m) Executive Compensation Limitation	3.60%	0.00%	0.00%
Other, net	1.20%	(0.70%)	0.30%
Consolidated effective income tax rate	31.70%	22.40%	22.10%

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Feb. 27, 2021	Feb. 29, 2020
Income Tax Disclosure [Abstract]
Accrued expenses	$ 6,309	$ 15,832
Deferred compensation	9,452	7,934
Employment tax accrual	1,483	0
Goodwill and other intangibles	4,215	0
Liability for unrecognized tax benefits	1,916	1,941
Unearned income	5,778	5,238
Operating lease liabilities	16,039	6,640
Net operating losses and tax credits	9,952	11,093
Other	1,984	1,502
Total deferred tax assets	57,128	50,180
Less: valuation allowance	(7,435)	(8,727)
Deferred tax assets, net of valuation allowance	49,693	41,453
Accrued expenses	1,095	0
Goodwill and other intangibles	3,263	8,166
Depreciation	34,573	32,296
Operating lease, right-of-use assets	15,435	6,666
Other	820	0
Total deferred tax liabilities	55,186	47,128
Net deferred tax liabilities	$ (5,493)	$ (5,675)

Income Taxes (Schedule of Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits at beginning of year	$ 4,071	$ 5,111	$ 4,705
Gross increases in tax positions for prior years	106	82	500
Gross decreases in tax positions for prior years	(351)	(1,100)	(377)
Gross increases based on tax positions related to the current year	429	425	1,067
Settlements	(96)	(15)	(303)
Statute of limitations expiration	(404)	(432)	(481)
Gross unrecognized tax benefits at end of year	$ 3,755	$ 4,071	$ 5,111

Income Taxes (Details Textual) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Millions	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Operating Loss Carryforwards [Line Items]
Income tax payments, net of refunds	$ 14.1	$ 17.8	$ 16.5
Tax benefits that if recognized would decrease the effective tax rate	2.2	2.6	3.1
Tax benefits that if recognized would result in adjustments to deferred taxes	1.6	1.5	2.0
Reserve for interest and penalties	(0.3)	$ (0.3)	$ (0.3)
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	10.0
Valuation allowance of net operating loss carryforwards	$ 7.4

Earnings per Share (Details) - shares shares in Thousands	12 Months Ended
Earnings per Share (Details) - shares shares in Thousands	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Reconciliation of basic and diluted earnings per share
Basic earnings per share - weighted average common shares outstanding	25,955	26,474	27,802
Weighted average effect of nonvested share grants and assumed exercise of stock options	349	255	280
Diluted earnings per share - weighted average common shares and potential common shares outstanding	26,304	26,729	28,082
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares	111	99	134

Business Segment Data (Schedule of Certain Segment Data) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,230,774	$ 1,387,439	$ 1,402,637
Operating (Loss) Income	25,527	87,848	67,284
Depreciation and Amortization	51,440	46,795	49,798
Capital Expenditures	26,165	51,428	60,717
Identifiable Assets	1,015,099	1,128,991	1,068,168
Intersegment elimination
Segment Reporting Information [Line Items]
Revenues	(36,189)	(43,399)	(60,202)
Architectural Framing Systems
Segment Reporting Information [Line Items]
Revenues	570,850	686,596	720,829
Operating (Loss) Income	(44,761)	36,110	49,660
Depreciation and Amortization	27,298	25,432	28,937
Capital Expenditures	9,907	22,744	19,098
Identifiable Assets	511,608	604,870	617,001
Architectural Glass
Segment Reporting Information [Line Items]
Revenues	330,256	387,191	367,203
Operating (Loss) Income	18,678	20,760	16,503
Depreciation and Amortization	15,102	13,570	13,009
Capital Expenditures	9,574	19,862	27,722
Identifiable Assets	271,520	291,104	281,817
Architectural Services
Segment Reporting Information [Line Items]
Revenues	295,807	269,140	286,314
Operating (Loss) Income	31,182	23,582	30,509
Depreciation and Amortization	1,430	1,305	1,234
Capital Expenditures	1,480	1,749	1,433
Identifiable Assets	79,465	107,538	59,227
Large-Scale Optical
Segment Reporting Information [Line Items]
Revenues	70,050	87,911	88,493
Operating (Loss) Income	31,203	22,642	23,003
Depreciation and Amortization	3,338	3,256	3,692
Capital Expenditures	869	3,153	6,989
Identifiable Assets	64,474	62,831	61,031
Corporate and other
Segment Reporting Information [Line Items]
Operating (Loss) Income	(10,775)	(15,246)	(52,391)
Depreciation and Amortization	4,272	3,232	2,926
Capital Expenditures	4,335	3,920	5,475
Identifiable Assets	$ 88,032	$ 62,648	$ 49,092

Business Segment Data (Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 27, 2021	Feb. 29, 2020	Mar. 02, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,230,774	$ 1,387,439	$ 1,402,637
Long-Lived Assets	298,443	324,386	315,823
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,115,872	1,254,311	1,259,319
Long-Lived Assets	285,007	307,782	297,072
CANADA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	102,721	120,498	128,735
Long-Lived Assets	9,707	11,130	12,563
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	12,181	12,630	14,583
Long-Lived Assets	$ 3,729	$ 5,474	$ 6,188

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Business Segment Data (Details Textual) $ in Thousands	12 Months Ended
Business Segment Data (Details Textual) $ in Thousands	Feb. 27, 2021 USD ($)	Feb. 29, 2020 USD ($)	Mar. 02, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments	4
Project related charges		$ 16,700	$ 40,900
Project Related Insurance Proceeds	$ 15,000	15,000
Revenues	1,230,774	1,387,439	1,402,637
Geographic Concentration Risk \| Revenue Benchmark [Member]
Segment Reporting Information [Line Items]
Revenues	$ 33,100	$ 54,700	$ 56,300
Export net sales as a percentage of consolidated net sales (percentage)	3.00%	3.00%	3.00%