XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
May 28, 2016
May 30, 2015
Operating activities:    
Net (loss) income $ (4,588) $ 18,836
Adjustments to reconcile to net cash provided by operating activities:    
Depreciation and amortization 138,788 109,649
Lease termination and impairment charges 5,781 5,022
LIFO charge 13,751 5,987
Loss on sale of assets, net 1,056 39
Stock-based compensation expense 11,144 7,370
Changes in deferred taxes (5,749) 9,540
Excess tax benefit on stock options and restricted stock (883) (2,820)
Changes in operating assets and liabilities:    
Accounts receivable (74,530) 11,027
Inventories 59,440 56,204
Accounts payable 115,646 79,715
Other assets and liabilities, net (99,912) 67,266
Net cash provided by operating activities 159,944 367,835
Investing activities:    
Payments for property, plant and equipment (106,077) (141,037)
Intangible assets acquired (16,381) (14,293)
Proceeds from dispositions of assets and investments 3,088 2,838
Net cash used in investing activities (119,370) (152,492)
Financing activities:    
Proceeds from issuance of long-term debt   1,800,000
Net payments to revolver (20,000) (141,000)
Principal payments on long-term debt (5,721) (5,577)
Change in zero balance cash accounts 2,262 (34,275)
Net proceeds from issuance of common stock 2,371 3,378
Excess tax benefit on stock options and restricted stock 883 2,820
Deferred financing costs paid   (34,459)
Net cash (used in) provided by financing activities (20,205) 1,590,887
Increase in cash and cash equivalents 20,369 1,806,230
Cash and cash equivalents, beginning of period 124,471 115,899
Cash and cash equivalents, end of period 144,840 1,922,129
Supplementary cash flow data:    
Cash paid for interest (net of capitalized amounts of $56 and $42, respectively) 71,434 72,194
Cash payments of income taxes, net of refunds 3,869 992
Equipment financed under capital leases 1,553 800
Equipment received for noncash consideration 632 545
Conversion of the 8.5% convertible notes to common stock   64,089
Gross borrowings from revolver 867,000 915,000
Gross payments to revolver $ 887,000 $ 1,056,000