Sales

3 Months Ended

May 31, 2023

Revenues [Abstract]

Sales

5. Sales

Disaggregated Sales

The following table presents disaggregated sales, for continuing operations, by customer industry (in thousands):

	Three Months Ended May 31,
	2023		2022
Sales:
Construction	$	207,162	$	68,354
Industrial	39,087		37,284
Consumer	35,179		6,214
Transportation	35,179		31,070
Electrical/Utility	27,361		22,785
Other (1)	46,905		41,427
Total sales	$	390,873	$	207,134
(1) Other includes less significant markets, such as agriculture, recreation, petro-chem, AZZ Tubular products and sales from recycling.

See also Note 6 for sales information by operating segment.

Contract Assets and Liabilities

The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets (unbilled receivables), and contract liabilities (customer advances and deposits) on the consolidated balance sheets, primarily related to the Company’s Precoat Metals segment. Customer billing can occur subsequent to revenue recognition, resulting in contract assets. In addition, the Company can receive advances or deposits from its customers, before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period.

Contract liabilities of $1.0 million and $1.3 million as of May 31, 2023 and February 28, 2023, respectively, are included in "Other accrued liabilities" in the consolidated balance sheets. As of May 31, 2023 and February 28, 2023, the balance for contract assets was $78.5 million and $79.3 million, respectively, primarily related to the AZZ Precoat Metals segment.