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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 01, 2024
May 27, 2023
Operating Activities    
Net earnings $ 31,011 $ 23,576
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 9,976 10,282
Share-based compensation 2,704 2,178
Deferred income taxes 3,466 (165)
Loss (gain) on disposal of property, plant and equipment 22 (27)
Non-cash lease expense 2,895 2,714
Other, net (925) (432)
Changes in operating assets and liabilities:    
Receivables (9,845) (13,476)
Inventories (11,337) (2,068)
Contract assets 5,511 14,368
Accounts payable (1,871) (8,390)
Accrued compensation and benefits (24,850) (13,312)
Contract liabilities 1,648 8,158
Operating lease liability (3,007) (3,101)
Accrued income taxes 6,535 7,590
Other current assets and liabilities (6,480) (6,608)
Net cash provided by operating activities 5,453 21,287
Investing Activities    
Capital expenditures (7,229) (7,398)
Proceeds from sales of property, plant and equipment 40 66
Purchases of marketable securities (740) 0
Sales/maturities of marketable securities 600 400
Net cash used by investing activities (7,329) (6,932)
Financing Activities    
Proceeds from revolving credit facilities 30,000 105,852
Repayments on revolving credit facilities (15,000) (105,000)
Repurchase of common stock (15,061) (5,193)
Dividends paid 0 (5,245)
Other, net (4,865) (1,677)
Net cash used by financing activities (4,926) (11,263)
Effect of exchange rates on cash (51) 77
(Decrease) increase in cash and cash equivalents (6,853) 3,169
Cash and cash equivalents at beginning of period 37,216 21,473
Cash and cash equivalents at end of period 30,363 24,642
Non-cash Activity    
Capital expenditures in accounts payable 472 $ 2,115
Dividends declared but not yet paid $ 5,409