AZZ INC

For the period ended Feb 29, 2024. Filed Apr 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Apr 22, 2024

AZZ$125.71+2.9%Stored close · as of Nov 6, 2026

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Contents

Consolidated Balance Sheets

(in thousands, except par value)

	As of
	February 29, 2024	February 28, 2023
Assets
Current assets:
Cash and cash equivalents	$4,349	$2,820
Trade accounts receivable, net of allowance for credit losses of $2,347 and $5,752 at February 29, 2024 and February 28, 2023, respectively	142,246	156,443
Other receivables	15,599	26,969
Inventories	117,656	143,920
Contract assets	79,335	79,273
Prepaid expenses and other	7,814	7,991
Total current assets	366,999	417,416
Property, plant and equipment, net	541,652	498,503
Right-of-use assets	23,739	26,392
Goodwill	705,468	702,512
Deferred tax assets	5,606	12,467
Intangible assets, net	445,435	469,392
Investment in joint venture	98,169	84,760
Other assets	8,437	10,037
Total assets	$2,195,505	$2,221,479
Liabilities, Mezzanine Equity and Shareholders’ Equity
Current liabilities:
Accounts payable	$88,001	$84,256
Income tax payable	172	272
Accrued salaries and wages	30,823	26,262
Other accrued liabilities	68,651	70,047
Lease liability, short-term	6,659	6,403
Total current liabilities	194,306	187,240
Long-term debt, net	952,742	1,058,120
Lease liability, long-term	17,827	20,704
Deferred tax liabilities	38,567	40,536
Other long-term liabilities	57,572	61,419
Total liabilities	1,261,014	1,368,019
Commitments and contingencies (Note 22)
Mezzanine equity:
Series A Convertible Preferred Stock, $1 par, shares authorized 240; 240 shares issued and outstanding at February 29, 2024 and February 28, 2023, respectively; aggregate liquidation preference $312,520 and $326,920 at February 29, 2024 and February 28, 2023, respectively	233,722	233,722
Shareholders’ equity:
Common Stock, $1 par value; 100,000 shares authorized; 25,102 and 24,912 shares issued and outstanding at February 29, 2024 and February 28, 2023, respectively	25,102	24,912
Capital in excess of par value	103,330	93,357
Retained earnings	576,231	506,042
Accumulated other comprehensive loss	(3,894)	(4,573)
Total shareholders’ equity	700,769	619,738
Total liabilities, mezzanine equity and shareholders' equity	$2,195,505	$2,221,479

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.