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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 29, 2020
Cash flows from operating activities:      
Net earnings $ 28,982 $ 24,094 $ 38,292
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 10,396 9,922 10,425
Amortization of deferred finance charges 0 0 47
Amortization of intangible assets 8,381 8,115 7,769
Gain from disposal of assets (271) (405) (87)
Bad debt expense, net of recoveries 429 1,044 (59)
Stock based compensation 2,799 1,243 1,369
Deferred income taxes 3,162 (2,713) 478
Net pension expense 1,690 3,928 (1,819)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable (1,036) 6,117 1,781
Prepaid expenses and income taxes (257) 2,100 (1,538)
Inventories (4,400) 3,187 3,241
Other assets (19) (124) 43
Accounts payable and accrued expenses 1,533 (3,340) (2,614)
Other liabilities (711) (351) (109)
Net cash provided by operating activities 50,678 52,817 57,219
Cash flows from investing activities:      
Capital expenditures (6,537) (3,679) (3,394)
Purchase of businesses, net of cash acquired (4,340) (19,202) (18,733)
Proceeds from disposal of plant and property 825 1,698 681
Net cash used in investing activities (10,052) (21,183) (21,446)
Cash flows from financing activities:      
Repayment of debt 0 0 (30,000)
Dividends paid (25,420) (23,467) (23,486)
Common stock repurchases (4,790) (1,235) (2,471)
Net cash used in financing activities (30,210) (24,702) (55,957)
Net change in cash 10,416 6,932 (20,184)
Cash at beginning of period 75,190 68,258 88,442
Cash at end of period $ 85,606 $ 75,190 $ 68,258