XML 23 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2017
Feb. 29, 2016
Feb. 28, 2015
Cash flows from operating activities:      
Net earnings (loss) $ 1,780 $ 35,736 $ (44,533)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation 7,934 7,798 6,778
Amortization of deferred finance charges 65    
Amortization of customer lists, noncompete, and patent 4,673 4,555 4,312
Pre-tax loss on sale of discontinued operations 36,775    
Operating cash flows of discontinued operations 538 38,508 111,657
(Gain) loss from disposal of assets 278 (479) (54)
Bad debt expense 118 206 799
Stock based compensation 1,361 1,308 1,339
Excess tax benefit (expense) of stock based compensation (265) 46 106
Deferred income taxes 4,359 (5,457) (11,379)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable 3,460 4,213 1,116
Prepaid expenses and income taxes 1,134 1,887 (1,971)
Inventories 1,428 318 (935)
Other assets (589) 228 (9)
Accounts payable and accrued expenses (140) (701) (1,501)
Other liabilities (3,579) (689) 616
Liability for pension benefits (443) (793) (1,907)
Net cash provided by operating activities 58,887 86,684 64,434
Cash flows from investing activities:      
Capital expenditures (3,065) (4,227) (2,019)
Purchase price of businesses, net of cash acquired (18,584) (331) (27,082)
Proceeds from sale of discontinued operations 107,354    
Investing cash flows of discontinued operations (279) (596) (452)
Proceeds from disposal of plant and property 664 1,038 143
Net cash provided by (used in) investing activities 86,090 (4,116) (29,410)
Cash flows from financing activities:      
Borrowings on debt     26,000
Repayment of debt (10,000) (59,010) (7,495)
Dividends (57,200) (18,044) (18,191)
Financing cash flows of discontinued operations   (7,490) (17,505)
Purchase of treasury stock (8,443)   (7,034)
Proceeds from exercise of stock options 2,910   54
Excess tax (benefit) expense of stock based compensation 265 (46) (106)
Net cash used in financing activities (72,468) (84,590) (24,277)
Effect of exchange rate changes on cash   (3,378) (1,552)
Net change in cash 72,509 (5,400) 9,195
Cash at beginning of period 7,957 13,357 4,162
Cash at end of period $ 80,466 $ 7,957 $ 13,357