XML 23 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (18,766) $ 1,105
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 6,726 5,572
Amortization of debt discount 127 147
Bad debt expense 50 153
Reduction in the carrying amount of the right of use asset 785 683
Gain (loss) on forward contracts (62) 203
Equity in income of equity investees (3,351) (4,758)
Distribution of income from equity investees 2,514 5,568
Deferred income tax (benefit) expense (110) 188
Non-cash compensation adjustment (5) (233)
Stock based compensation expense 262 473
Loss on disposal of property, plant, and equipment 12  
Changes in operating assets and liabilities:    
Accounts receivable 23,099 15,301
Inventory (21,221) (14,515)
Receivables from vendors 143 (86)
Prepaid expenses and other 1,147 (1,407)
Investment securities-trading 6 233
Accounts payable, accrued expenses, accrued sales incentives, contract liabilities, and other liabilities (34,061) (13,833)
Income taxes payable (3,612) (323)
Net cash used in operating activities (46,317) (5,529)
Cash flows from investing activities:    
Purchases of property, plant, and equipment (2,226) (1,838)
Issuance of promissory note   (8,390)
Net cash used in investing activities (2,226) (10,228)
Cash flows from financing activities:    
Principal payments on finance lease obligation (147) (218)
Repayment of bank obligations (69,160) (250)
Borrowings on bank obligations 94,518 836
Deferred financing costs   (667)
Settlement of market stock unit awards (4,000)  
Withholding taxes paid on net issuance of stock award (404) (856)
Purchase of treasury stock   (1,220)
Net cash provided by (used in) financing activities 20,807 (2,375)
Effect of exchange rate changes on cash 4,274 (221)
Net decrease in cash and cash equivalents (23,462) (18,353)
Cash and cash equivalents at beginning of period 27,788 59,404
Cash and cash equivalents at end of period $ 4,326 $ 41,051