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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 31, 2020
May 31, 2019
Cash flows from operating activities:    
Net earnings $ 4,185 $ 9,632
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,444 2,477
Amortization of deferred finance charges   28
Amortization of intangible assets 1,972 1,904
Gain from disposal of assets (112)  
Bad debt expense, net of recoveries 648 40
Stock based compensation 338 358
Net pension expense 577 295
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable 9,271 412
Prepaid expenses and income taxes 1,517 755
Inventories 600 (93)
Accounts payable and accrued expenses (6,514) 487
Other liabilities (76) (624)
Net cash provided by operating activities 14,850 15,671
Cash flows from investing activities:    
Capital expenditures (1,125) (802)
Purchase of businesses, net of cash acquired   (8,859)
Proceeds from disposal of plant and property 136  
Net cash used in investing activities (989) (9,661)
Cash flows from financing activities:    
Dividends paid (5,864) (5,875)
Common stock repurchases (423) (1,212)
Net cash used in financing activities (6,287) (7,087)
Net change in cash 7,574 (1,077)
Cash at beginning of period 68,258 88,442
Cash at end of period $ 75,832 $ 87,365