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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Aug. 31, 2024
Aug. 26, 2023
Operating Activities    
Net earnings $ 61,577 $ 56,903
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 19,664 20,661
Share-based compensation 5,642 4,483
Deferred income taxes 2,016 (4,281)
Loss (gain) on disposal of property, plant and equipment 291 (62)
Settlement of New Markets Tax Credit transaction 0 (4,687)
Non-cash lease expense 5,844 6,153
Other, net 1,002 (1,121)
Changes in operating assets and liabilities:    
Receivables (3,698) (8,238)
Inventories (10,509) 5,841
Contract assets 238 8,992
Accounts payable 1,335 (3,529)
Accrued compensation and benefits (12,823) (17,567)
Contract liabilities 6,987 4,244
Operating lease liability (5,748) (6,608)
Accrued income taxes (224) 4,292
Other current assets and liabilities (7,462) (2,912)
Net cash provided by operating activities 64,132 62,564
Investing Activities    
Capital expenditures (15,662) (15,018)
Proceeds from sales of property, plant and equipment 608 143
Purchases of marketable securities (2,246) (969)
Sales/maturities of marketable securities 1,850 775
Net cash used by investing activities (15,450) (15,069)
Financing Activities    
Proceeds from revolving credit facilities 95,201 174,853
Repayments on revolving credit facilities (95,201) (199,000)
Payments of debt issuance costs (3,485) 0
Repurchase of common stock (15,061) (11,821)
Dividends paid (10,821) (10,467)
Other, net (5,266) (3,705)
Net cash used by financing activities (34,633) (50,140)
Effect of exchange rates on cash (241) (405)
Increase (decrease) in cash and cash equivalents 13,808 (3,050)
Cash and cash equivalents at beginning of period 37,216 21,473
Cash and cash equivalents at end of period 51,024 18,423
Non-cash Activity    
Capital expenditures in accounts payable $ 1,426 $ 2,493