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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Feb. 28, 2022
Cash flows from operating activities:      
Net earnings $ 42,597 $ 47,300 $ 28,982
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 9,863 10,180 10,396
Amortization of intangible assets 7,649 7,176 8,381
(Gain) loss from disposal of assets 53 (5,896) (271)
Accrued interest on short-term investments (431) 0 0
Bad debt expense, net of recoveries 693 663 429
Stock based compensation 1,173 2,791 2,799
Deferred income taxes (2,153) (1,801) 3,162
Net pension expense 719 894 1,690
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable 8,836 (9,245) (1,036)
Prepaid expenses and income taxes (271) (370) (257)
Inventories 9,116 (7,780) (4,400)
Other assets 120 (563) (19)
Accounts payable and accrued expenses (8,599) 3,334 1,533
Other liabilities (296) 93 (711)
Net cash provided by operating activities 69,069 46,776 50,678
Cash flows from investing activities:      
Capital expenditures (6,500) (4,332) (6,537)
Purchase of businesses, net of cash acquired (19,609) (8,767) (4,340)
Purchase of investment securities (31,394) 0 0
Maturity of investment securities 2,500 0 0
Proceeds from disposal of plant and property 9 1,642 825
Net cash used in investing activities (54,994) (11,457) (10,052)
Cash flows from financing activities:      
Dividends paid (25,860) (25,839) (25,420)
Common stock repurchases (586) (1,118) (4,790)
Net cash used in financing activities (26,446) (26,957) (30,210)
Net change in cash (12,371) 8,362 10,416
Cash at beginning of year 93,968 85,606 75,190
Cash at end of year $ 81,597 $ 93,968 $ 85,606