XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2024
Nov. 25, 2023
Operating Activities    
Net earnings $ 82,566 $ 83,877
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 30,798 31,185
Share-based compensation 8,067 6,644
Deferred income taxes 5,109 1,296
Loss (gain) on disposal of property, plant and equipment 159 (50)
Settlement of New Markets Tax Credit transaction 0 (4,687)
Non-cash lease expense 9,926 8,742
Other, net 1,800 10
Changes in operating assets and liabilities:    
Receivables (2,191) (846)
Inventories (8,284) 8,256
Contract assets (8,168) 11,194
Accounts payable 6,796 (1,902)
Accrued compensation and benefits (20,958) (7,015)
Contract liabilities 11,499 7,635
Operating lease liability (9,387) (9,214)
Accrued income taxes (6,498) (7,587)
Other current assets and liabilities (6,104) 1,714
Net cash provided by operating activities 95,130 129,252
Investing Activities    
Capital expenditures (24,696) (26,956)
Proceeds from sales of property, plant and equipment 744 247
Purchases of marketable securities (2,394) (969)
Sales/maturities of marketable securities 2,370 1,370
Acquisition of business, net of cash acquired (233,125) 0
Net cash used by investing activities (257,101) (26,308)
Financing Activities    
Proceeds from revolving credit facilities 95,201 195,851
Repayment on revolving credit facilities (115,201) (265,000)
Proceeds from term loans 250,000 0
Repayment of term loans (20,000) 0
Payments of debt issuance costs (3,798) 0
Repurchase of common stock (15,061) (11,821)
Dividends paid (16,238) (15,690)
Other, net (5,884) (3,781)
Net cash provided (used) by financing activities 169,019 (100,441)
Effect of exchange rates on cash (409) (569)
Increase in cash and cash equivalents 6,639 1,934
Cash and cash equivalents at beginning of period 37,216 21,473
Cash and cash equivalents at end of period 43,855 23,407
Non-cash Activity    
Capital expenditures in accounts payable $ 2,299 $ 1,231