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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 27, 2021
Nov. 28, 2020
Operating Activities    
Net earnings $ 19,759 $ 57,807
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 38,353 38,000
Share-based compensation 4,807 6,163
Deferred income taxes (5,412) 5,012
Asset impairment 16,638 0
Gain on disposal of assets (1,250) (19,346)
Noncash lease expense 9,302 9,531
Other, net 3,009 (69)
Changes in operating assets and liabilities:    
Receivables 6,443 24,153
Inventories (2,657) (2,722)
Costs and earnings on contracts in excess of billings (1,168) (44,501)
Accounts payable and accrued expenses 5,440 (43,915)
Billings on contracts in excess of costs and earnings (4,474) (6,981)
Refundable and accrued income taxes 5,255 12,424
Operating lease liability (9,387) (9,168)
Other (703) 5,122
Net cash provided by operating activities 86,291 120,512
Investing Activities    
Capital expenditures (13,070) (17,116)
Proceeds from sales of property, plant and equipment 1,347 23,724
Other 76 (1,090)
Net cash (used) provided by investing activities (11,647) 5,518
Financing Activities    
Borrowings on line of credit 0 193,332
Repayments on debt (2,000) (5,400)
Payments on line of credit 0 237,500
Proceeds from exercise of stock options 4,115 1,456
Repurchase and retirement of common stock 29,164 20,731
Dividends paid (15,050) (14,546)
Other (1,895) (2,309)
Net cash used by financing activities (43,994) (85,698)
Increase in cash and cash equivalents 30,650 40,332
Effect of exchange rates on cash 345 129
Cash, cash equivalents and restricted cash at beginning of year 47,277 14,952
Cash, cash equivalents and restricted cash at end of period 78,272 55,413
Noncash Activity    
Capital expenditures in accounts payable $ 1,095 $ 684