Revenue, Receivables and Contract Assets and Liabilities (Tables)

12 Months Ended

Feb. 25, 2023

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 25, 2023		February 26, 2022		February 27, 2021
Recognized at shipment	$	649,792	$	551,783	$	504,583
Recognized over time	790,904		762,194		726,191
Total	$	1,440,696	$	1,313,977	$	1,230,774

Net receivables

(In thousands)	2023		2022
Trade accounts	$	140,732	$	129,085
Construction contracts	58,331		12,857
Contract retainage	25,834		28,782
Total receivables	224,897		170,724
Less: allowance for credit losses	1,796		2,132
Receivables, net	$	223,101	$	168,592

Allowance for Credit Losses

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

(In thousands)	2023		2022
Beginning balance	$	2,132	$	1,947
Additions charged to costs and expenses	394		729
Deductions from allowance, net of recoveries	(686)		(514)
Other deductions	(44)		(30)
Ending balance	$	1,796	$	2,132

Contract assets and liabilities

(In thousands)	February 25, 2023		February 26, 2022
Contract assets	$	59,403	$	59,185
Contract liabilities	28,011		11,373

The change in contract assets and contract liabilities was due to timing of project activity from businesses that operate under long-term contracts.

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 25, 2023
Within one year	$	487,217
Within two years	263,609
Beyond two years	84,990
Total	$	835,816