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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2021
May 31, 2020
Cash Flows From Operating Activities:    
Net income $ 22,337 $ 5,541
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Bad debt expense (218) 129
Amortization and depreciation 11,084 11,668
Deferred income taxes (892) (2,147)
Net (gain) loss on sale of property, plant and equipment (15) 40
Amortization of deferred borrowing costs 139 135
Share-based compensation expense 1,811 1,766
Effects of changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable (7,966) 8,721
Inventories (8,254) (4,449)
Prepaid expenses and other (5,419) (941)
Other assets (778) 123
Net change in contract assets and liabilities (9,839) 3,168
Accounts payable 6,321 (15,328)
Other accrued liabilities and income taxes payable 2,749 (19,610)
Net cash provided by (used in) operating activities 11,060 (11,184)
Cash Flows Used For Investing Activities:    
Proceeds from sale of property, plant and equipment 23 0
Purchase of property, plant and equipment (7,489) (10,847)
Net cash used in investing activities (7,466) (10,847)
Cash Flows From Financing Activities:    
Payments for taxes related to net share settlement of equity awards (2,101) (539)
Proceeds from revolving loan 35,000 76,000
Payments on revolving loan (28,000) (60,000)
Repurchase and retirement of treasury stock (6,264) 0
Payments of dividends (4,245) (4,425)
Net cash (used in) provided by financing activities (5,610) 11,036
Effect of exchange rate changes on cash (418) 722
Net decrease in cash and cash equivalents (2,434) (10,273)
Cash and cash equivalents at beginning of period 14,837 36,687
Cash and cash equivalents at end of period 12,403 26,414
Supplemental disclosures    
Cash paid for interest 394 869
Cash paid for income taxes $ 1,322 $ 11