XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 14,890 $ (8,169)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 8,224 9,229
Amortization of debt discount 508 617
Bad debt (recovery) expense (385) 303
Reduction in the carrying amount of the right of use asset 836 668
Loss (gain) on forward contracts 61 (347)
Equity in income of equity investees (4,506) (3,672)
Distribution of income from equity investees 4,248 4,169
Deferred income tax expense (benefit) 4,187 (338)
Non-cash compensation adjustment (455) (51)
Stock based compensation expense 1,454 1,816
Gain on sale of property, plant, and equipment   (3,788)
Changes in operating assets and liabilities:    
Accounts receivable (78,692) (20,880)
Inventory (31,406) (9,353)
Receivables from vendors (19) 790
Prepaid expenses and other (6,465) 528
Investment securities-trading 455 304
Accounts payable, accrued expenses, accrued sales incentives, contract liabilities, and other liabilities 83,049 3,379
Income taxes payable 1,388 908
Net cash used in operating activities (2,628) (23,887)
Cash flows from investing activities:    
Purchases of property, plant, and equipment (3,510) (2,192)
Purchase of acquired business, less cash received (11,000)  
Proceeds from sale of property, plant, and equipment   11,951
Net cash (used in) provided by investing activities (14,510) 9,759
Cash flows from financing activities:    
Principal payments on finance lease obligation (470) (477)
Repayment of bank obligations (20,375) (9,046)
Borrowings on bank obligations 20,000  
Deferred financing costs (260)  
Settlement of restricted stock units (575)  
Purchase of treasury stock   (2,040)
Net cash used in financing activities (1,680) (11,563)
Effect of exchange rate changes on cash 2,730 (389)
Net decrease in cash and cash equivalents (16,088) (26,080)
Cash and cash equivalents at beginning of period 37,425 58,236
Cash and cash equivalents at end of period $ 21,337 $ 32,156