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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities:    
Net earnings $ 11,627 $ 7,304
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,621 2,543
Amortization of intangible assets 1,757 2,091
Gain from disposal of assets 0 (277)
Bad debt expense, net of recoveries 180 38
Stock based compensation 467 1,166
Net pension expense 405 398
Changes in operating assets and liabilities:    
Accounts receivable (2,035) 2,148
Prepaid expenses and income taxes 145 209
Inventories (5,362) (3,398)
Other assets 0 (3,829)
Accounts payable and accrued expenses 4,435 3,463
Other liabilities (3) 31
Net cash provided by operating activities 14,237 11,887
Cash flows from investing activities:    
Capital expenditures (1,036) (707)
Proceeds from disposal of plant and property 0 825
Net cash (used in) provided by investing activities (1,036) 118
Cash flows from financing activities:    
Dividends paid (6,467) (5,866)
Common stock repurchases (1,119) 0
Net cash used in financing activities (7,586) (5,866)
Net change in cash 5,615 6,139
Cash at beginning of period 85,606 75,190
Cash at end of period $ 91,221 $ 81,329