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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Aug. 27, 2022
Aug. 28, 2021
Operating Activities    
Net earnings $ 60,120 $ 8,701
Adjustments to reconcile net earnings to net cash (used) provided by operating activities:    
Depreciation and amortization 21,448 25,808
Share-based compensation 3,394 3,261
Deferred income taxes 6,858 (4,560)
Asset impairment 0 15,403
Gain on disposal of assets (695) (1,355)
Proceeds from New Markets Tax Credit transaction, net of deferred costs 18,390 0
Settlement of New Markets Tax Credit transaction (19,523) 0
Noncash lease expense 6,160 6,216
Other, net 2,653 578
Changes in operating assets and liabilities:    
Receivables (65,760) 15,520
Inventories (17,636) (3,607)
Costs and earnings on contracts in excess of billings 840 3,212
Accounts payable and accrued expenses (8,226) (10,895)
Billings in excess of costs and earnings on uncompleted contracts 21,051 (2,144)
Refundable and accrued income taxes (20,486) 1,981
Operating lease liability (6,684) (6,240)
Other, net (4,547) 3,028
Net cash (used) provided by operating activities (2,643) 54,907
Investing Activities    
Capital expenditures (9,255) (10,121)
Proceeds from sales of property, plant and equipment 4,122 1,292
Other, net 450 66
Net cash used by investing activities (4,683) (8,763)
Financing Activities    
Borrowings on line of credit 409,880 0
Repayment on debt (151,000) (2,000)
Payments on line of credit (171,000) 0
Payments on debt issue costs (687) 0
Proceeds from exercise of stock options 0 4,115
Repurchase and retirement of common stock (74,312) (22,419)
Dividends paid (9,602) (10,060)
Other, net (2,815) (1,853)
Net cash provided (used) by financing activities 464 (32,217)
(Decrease) increase in cash, cash equivalents and restricted cash (6,862) 13,927
Effect of exchange rates on cash 28 617
Cash, cash equivalents and restricted cash at beginning of year 37,583 47,277
Cash, cash equivalents and restricted cash at end of period 30,749 61,821
Noncash Activity    
Capital expenditures in accounts payable $ 2,019 $ 374