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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 28, 2016
May 30, 2015
Operating Activities    
Net earnings $ 17,722 $ 12,126
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,720 7,741
Stock-based compensation 1,390 1,040
Deferred income taxes 377 358
Excess tax benefits from stock-based compensation (374) (3,619)
Gain on disposal of assets (154) (102)
Other, net (221) 39
Changes in operating assets and liabilities:    
Receivables (13,225) 10,820
Inventories (5,883) (1,240)
Accounts payable and accrued expenses (21,315) (18,129)
Billings in excess of costs and earnings on uncompleted contracts 10,513 7,191
Refundable and accrued income taxes 2,532 5,361
Other, net 60 (731)
Net cash provided by (used in) operating activities (858) 20,855
Investing Activities    
Capital expenditures (17,725) (8,752)
Purchases of marketable securities (2,643) (35,787)
Sales/maturities of marketable securities 1,892 1,696
Investments in corporate-owned life insurance policies (1,842) (823)
Net cash provided by (used in) investing activities (20,318) (43,666)
Financing Activities    
Proceeds from issuance of debt 1,893 1,189
Shares withheld for taxes, net of stock issued to employees (1,198) (2,028)
Excess tax benefits from stock-based compensation 374 3,619
Dividends paid (3,560) (3,215)
Net cash provided by (used in) financing activities (2,491) (435)
Decrease in cash and cash equivalents (23,667) (23,246)
Effect of exchange rates on cash 164 (735)
Cash and cash equivalents at beginning of year 60,470 52,185
Cash and cash equivalents at end of period 36,967 28,204
Noncash Activity    
Capital expenditures in accounts payable $ 3,455 $ 1,363