XML 19 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 26, 2022
Feb. 27, 2021
Feb. 29, 2020
Operating Activities      
Net earnings $ 3,486 $ 15,436 $ 61,914
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 49,993 51,440 46,795
Share-based compensation 6,293 8,573 6,607
Deferred income taxes (7,956) (6,460) 10,463
Asset impairment on property, plant and equipment 21,497 1,400 0
Gain on disposal of assets (20,987) (20,044) (2,197)
Impairment Expense 49,473 70,069 0
Noncash lease expense 12,418 12,235 12,420
Other, net (1,272) (2,088) (1,516)
Changes in operating assets and liabilities:      
Receivables 7,521 21,630 (4,217)
Inventories (7,706) (1,440) 7,142
Costs and earnings on contracts in excess of billings (897) 44,183 (18,468)
Accounts payable and accrued expenses 3,348 (32,591) (375)
Billings in excess of costs and earnings on uncompleted contracts (14,288) (10,351) 11,314
Refundable and accrued income taxes 11,017 2,652 (8,726)
Operating lease liability (12,720) (11,513) (10,829)
Other, net 1,251 (1,268) (3,065)
Net cash provided by operating activities 100,471 141,863 107,262
Investing Activities      
Capital expenditures (21,841) (26,165) (51,428)
Proceeds from sales of property, plant and equipment 30,599 25,108 5,307
Purchases of marketable securities (1,038) (3,606) (7,012)
Sales/maturities of marketable securities 1,563 2,657 7,768
Other, net 0 (141) (1,673)
Net cash provided (used) by investing activities 9,283 (2,147) (47,038)
Financing Activities      
Borrowings on line of credit 0 198,601 229,000
(Repayment) borrowings on debt (2,000) (5,400) 150,000
Payments on line of credit 0 (246,340) (406,500)
Proceeds from exercise of stock options 4,115 1,456 0
Repurchase and retirement of common stock (100,414) (32,878) (25,140)
Dividends paid (20,266) (19,601) (18,714)
Other, net (2,007) (3,714) (3,160)
Net cash used by financing activities (120,572) (107,876) (74,514)
(Decrease) increase in cash, cash equivalents and restricted cash (10,818) 31,840 (14,290)
Effect of exchange rates on cash 1,124 485 1
Cash, cash equivalents and restricted cash at beginning of year 47,277 14,952 29,241
Cash, cash equivalents and restricted cash at end of year 37,583 47,277 14,952
Noncash Activity      
Capital expenditures in accounts payable $ 2,326 $ 1,101 $ 2,169