XML 21 R9.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
May 30, 2020
Jun. 01, 2019
Operating activities:    
Net loss $ (63,541) $ (99,659)
Net income (loss) from discontinued operations, net of tax 9,161 (320)
Net loss from continuing operations (72,702) (99,339)
Adjustments to reconcile to net cash used in operating activities of continuing operations :    
Depreciation and amortization 79,103 83,926
Lease termination and impairment charges 3,753 478
Intangible asset impairment charges 29,852  
LIFO (credit) charge (12,066) 7,489
Gain on sale of assets, net (2,260) (2,712)
Stock-based compensation expense 1,874 5,380
Changes in operating assets and liabilities:    
Accounts receivable (308,636) (17,565)
Inventories 43,647 (11,454)
Accounts payable 13,320 (75,893)
Operating lease right-of-use assets and operating lease liabilities (6,595) (11,893)
Other assets 99,177 22,513
Other liabilities 13,263 47,831
Net cash used in operating activities of continuing operations (118,270) (51,239)
Investing activities:    
Payments for property, plant and equipment (28,459) (40,981)
Intangible assets acquired (10,715) (8,210)
Proceeds from dispositions of assets and investments 2,755 658
Net cash used in investing activities of continuing operations (36,419) (48,533)
Financing activities:    
Net proceeds from revolver 242,000 125,000
Principal payments on long-term debt (1,298) (1,780)
Change in zero balance cash accounts (26,567) 36,387
Payments for taxes related to net share settlement of equity awards (99) (195)
Deferred financing costs paid (1,332) (186)
Net cash provided by financing activities of continuing operations 212,704 159,226
Cash flows from discontinued operations:    
Operating activities of discontinued operations (82,189) (13,877)
Investing activities of discontinued operations 94,310 523
Financing activities of discontinued operations 0 0
Net cash provided by (used in) discontinued operations 12,121 (13,354)
Increase in cash and cash equivalents 70,136 46,100
Cash and cash equivalents, beginning of period 218,180 144,353
Cash and cash equivalents, end of period $ 288,316 $ 190,453