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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Cash flows from operating activities:    
Net earnings $ 19,165 $ 18,814
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 5,046 4,308
Amortization of deferred finance charges 47 57
Amortization of intangible assets 3,830 2,920
Gain from disposal of assets   (6)
Bad debt expense, net of recoveries 22 196
Stock based compensation 665 674
Net pension expense 590 659
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable 1,097 (1,708)
Prepaid expenses and income taxes 385 3,562
Inventories (1,032) (3,081)
Other assets 36 (4)
Accounts payable and accrued expenses (1,966) (1,941)
Other liabilities (167) (200)
Net cash provided by operating activities 27,718 24,250
Cash flows from investing activities:    
Capital expenditures (1,531) (2,546)
Purchase of businesses, net of cash acquired (18,733) (27,035)
Proceeds from disposal of plant and property   6
Net cash used in investing activities (20,264) (29,575)
Cash flows from financing activities:    
Repayment of debt (30,000)  
Dividends paid (11,751) (10,811)
Common stock repurchases (1,645) (680)
Proceeds from exercise of stock options   69
Net cash used in financing activities (43,396) (11,422)
Net change in cash (35,942) (16,747)
Cash at beginning of period 88,442 96,230
Cash at end of period $ 52,500 $ 79,483