XML 19 R9.htm IDEA: XBRL DOCUMENT v3.24.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 04, 2023
Feb. 26, 2022
Feb. 27, 2021
Operating activities:      
Net loss $ (719,188) $ (522,372) $ (90,220)
Net income from discontinued operations, net of tax     9,161
Net loss from continuing operations (719,188) (522,372) (99,381)
Adjustments to reconcile to net cash (used in) provided by operating activities of continuing operations:      
Depreciation and amortization 276,583 295,686 327,124
Facility exit and impairment charges 180,637 164,084 57,714
Goodwill and intangible asset impairment charges 371,200 229,000 29,852
LIFO charge (credit) 53,028 1,314 (51,692)
(Gain) loss on sale of assets, net (68,586) 5,505 (69,300)
Change in allowances for uncollectible accounts receivable 15,267 22,011  
Loss (gain) on Bartell acquisition 5,346 (47,705)
Stock-based compensation expense 11,537 13,050 13,003
(Gain) loss on debt modifications and retirements, net (80,142) 3,235 (5,274)
Changes in deferred taxes 7,703 (6,709) (10,633)
Changes in operating assets and liabilities:      
Accounts receivable 151,610 54,086 (182,404)
Inventories 5,158 (97,112) 177,263
Accounts payable (96,570) 139,228 (35,372)
Operating lease right-of-use assets and operating lease liabilities (86,133) (29,375) (28,044)
Other assets 36,478 33,737 80,975
Other liabilities (111,021) 68,558 (50,947)
Net cash (used in) provided by operating activities of continuing operations: (52,439) 379,272 105,179
Investing activities:      
Payments for property, plant and equipment (215,285) (194,090) (195,141)
Intangible assets acquired (32,400) (26,623) (29,800)
Acquisition of business, net of cash acquired     (86,230)
Proceeds from insured loss   10,436 12,500
Proceeds from dispositions of assets and investments 69,582 18,706 11,444
Proceeds from sale-leaseback transactions 73,344 57,498 177,892
Net cash used in investing activities of continuing operations: (104,759) (134,073) (109,335)
Financing activities:      
Proceeds from issuance of long-term debt 50,000 350,000 849,918
Net proceeds from (payments to) revolver 491,000 (141,000) 200,000
Principal payments on long-term debt (277,941) (545,036) (1,058,537)
Change in zero balance cash accounts 18,289 (8,285) (36,463)
Net proceeds from issuance of common stock     53
Financing fees paid for early debt redemption (1,733) (833) (2,399)
Payments for taxes related to net share settlement of equity awards (2,662) (2,588) (3,086)
Deferred financing costs paid (2,325) (18,638) (14,729)
Net cash provided by (used in) financing activities of continuing operations: 274,628 (366,380) (65,243)
Cash flows from discontinued operations:      
Operating activities of discontinued operations 0 0 (82,189)
Investing activities of discontinued operations 0 0 94,310
Financing activities of discontinued operations 0 0 0
Net cash provided by discontinued operations 0 0 12,121
Increase (decrease) in cash and cash equivalents 117,430 (121,181) (57,278)
Cash and cash equivalents, beginning of period 39,721 160,902 218,180
Cash and cash equivalents, end of period $ 157,151 $ 39,721 $ 160,902