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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 02, 2024
Feb. 25, 2023
Feb. 26, 2022
Operating Activities      
Net earnings $ 99,613,000 $ 104,107,000 $ 3,486,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 41,588,000 42,403,000 49,993,000
Share-based compensation 9,721,000 8,656,000 6,293,000
Deferred income taxes (9,748,000) (7,185,000) (7,956,000)
Asset impairment charges 6,195,000 0 21,497,000
Loss (gain) on disposal of property, plant and equipment 826,000 (3,815,000) (20,987,000)
Impairment expense on goodwill and intangible assets 0 0 49,473,000
Proceeds from New Markets Tax Credit transaction, net of deferred costs 0 18,390,000 0
Settlement of New Markets Tax Credit transaction (4,687,000) (19,523,000) 0
Non-cash lease expense 11,721,000 11,878,000 12,418,000
Other, net 4,615,000 5,399,000 (1,272,000)
Changes in operating assets and liabilities:      
Receivables 23,993,000 (62,304,000) 7,521,000
Inventories 9,366,000 1,731,000 (7,706,000)
Contract assets 9,880,000 (3,380,000) (897,000)
Accounts payable (2,655,000) (5,491,000) 14,738,000
Accrued compensation and benefits 2,102,000 (1,810,000) 912,000
Contract liabilities 6,590,000 20,952,000 (14,288,000)
Operating lease liability (12,632,000) (12,149,000) (12,720,000)
Refundable and accrued income taxes 6,523,000 (6,976,000) 11,017,000
Other current assets and liabilities 1,143,000 11,813,000 (11,051,000)
Net cash provided by operating activities 204,154,000 102,696,000 100,471,000
Investing Activities      
Capital expenditures (43,180,000) (45,177,000) (21,841,000)
Proceeds from sales of property, plant and equipment 293,000 7,755,000 30,599,000
Purchases of marketable securities (2,953,000) 0 (1,038,000)
Sales/maturities of marketable securities 2,165,000 9,712,000 1,563,000
Net cash (used) provided by investing activities (43,675,000) (27,710,000) 9,283,000
Financing Activities      
Proceeds from revolving credit facilities 196,964,000 485,879,000 0
Repayment on debt 0 (151,000,000) (2,000,000)
Repayments on revolving credit facilities (304,817,000) (327,865,000) 0
Proceeds from exercise of stock options 0 0 4,115,000
Repurchase of common stock (11,821,000) (74,312,000) (100,414,000)
Dividends paid (21,133,000) (19,670,000) (20,266,000)
Other, net (3,800,000) (4,055,000) (2,007,000)
Net cash used by financing activities (144,607,000) (91,023,000) (120,572,000)
Effect of exchange rates on cash (129,000) (73,000) 1,124,000
Increase (decrease) in cash, cash equivalents and restricted cash 15,743,000 (16,110,000) (9,694,000)
Cash, cash equivalents and restricted cash at beginning of year 21,473,000 37,583,000 47,277,000
Cash and cash equivalents at end of year 37,216,000 21,473,000 37,583,000
Non-cash Activity      
Capital expenditures in accounts payable $ 3,588,000 $ 2,909,000 $ 2,326,000