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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2017
OPERATING ACTIVITIES:      
CONSOLIDATED NET INCOME $ 26,079 $ 84,759 $ 13,220
Adjustments to reconcile net income to net cash provided by (used in) operating activities—      
Gain on sale of radio and publishing assets, net of disposition costs (31,817) (76,604) (23,557)
Impairment losses on long-lived assets 647 265 9,843
Loss on debt extinguishment 779 2,662 620
Noncash accretion of debt instruments to interest expense 82 495 743
Amortization of deferred financing costs, including original issue discount 1,198 2,536 1,661
Impairment of assets held for sale 205 0 0
Depreciation and amortization 3,213 3,628 4,806
Provision for bad debts 816 699 377
Benefit for deferred income taxes (6,171) (12,134) (178)
Noncash compensation 1,554 2,654 2,920
Loss on investments including other-than-temporary impairment 0 0 254
Loss (gain) on sale of assets 57 (69) 124
Changes in assets and liabilities—      
Accounts receivable 3,003 5,191 3,460
Prepaid expenses and other current assets 948 (631) 1,639
Other assets (161) (507) (644)
Accounts payable and accrued liabilities (4,845) (9,701) 5,131
Deferred revenue 597 (463) (294)
Income taxes 10,810 (121) (76)
Other liabilities 745 (2,733) (788)
Net cash provided by (used in) operating activities 7,739 (74) 19,261
INVESTING ACTIVITIES:      
Purchases of property and equipment (518) (1,809) (2,850)
Proceeds from the sale of assets 60,171 80,238 31,980
Other 0 0 19
Net cash provided by investing activities 59,653 78,429 29,149
FINANCING ACTIVITIES:      
Payments on long-term debt (62,538) (100,833) (55,970)
Proceeds from long-term debt 2,500 21,690 21,350
Settlement of tax withholding obligations (641) (393) (539)
Dividends and distributions paid to noncontrolling interests (5,254) (4,871) (5,577)
Proceeds from exercise of stock options and employee stock purchases 368 131 115
Payments for debt related costs 0 (1,636) (32)
Other 0 0 (5)
Net cash used in financing activities (65,565) (85,912) (40,658)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,827 (7,557) 7,752
CASH AND CASH EQUIVALENTS:      
Beginning of period 6,115 13,672 5,920
End of period 7,942 6,115 13,672
Cash paid for (refund from) —      
Interest 5,765 13,334 15,618
Income taxes (467) 2,636 112
Noncash financing transactions —      
Value of stock issued to employees under stock compensation program and to satisfy accrued incentives $ 1,554 $ 2,650 $ 2,920