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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Feb. 29, 2020
Cash Flows From Operating Activities:      
Net income $ 84,022 $ 39,614 $ 48,234
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 44,665 44,603 50,194
Deferred income taxes 3,467 (1,561) (2,617)
Loss on disposal of business 552 3,080 18,632
Loss on abandonment of long-lived assets 6,923 0
Loss (gain) on disposal group held for sale (1,797) 6,752 0
Write down of excess inventory 0 2,511 0
Impairment loss on long lived assets 0 0 9,157
Loss (gain) on sale of property, plant & equipment 607 219 (71)
Share-based compensation expense 9,449 7,330 6,290
Amortization of deferred debt issuance costs 455 545 538
Bad debt expense (377) 1,040 2,734
Effects of changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (34,609) 7,926 (1,006)
Inventories (27,871) 2,145 25,875
Prepaid expenses and other assets 794 6,497 (291)
Net change in contract assets and liabilities 12,218 5,137 (47,040)
Accounts payable 1,284 (21,521) 8,145
Other accrued liabilities and income taxes payable (6,849) (19,205) 23,536
Net cash provided by operating activities: 86,010 92,035 142,310
Cash flows from investing activities:      
Proceeds from the sale or insurance settlement of property, plant, and equipment 2,789 461 340
Proceeds from sale of subsidiary, net 0 12,444 23,584
Acquisition of subsidiaries, net of cash acquired (61,219) (4,419) (60,628)
Purchases of property, plant and equipment (28,405) (37,079) (32,595)
Net cash used in investing activities: (86,835) (28,593) (69,299)
Cash flows from financing activities:      
Proceeds from issuance of common stock 2,788 2,832 3,113
Payments for taxes related to net share settlement of equity awards (2,187) (712) (1,231)
Proceeds from revolving loan 296,000 228,000 428,500
Payments on revolving loan (248,000) (277,000) (466,500)
Proceeds from long-term debt 0 150,000 0
Payments on long-term debt 0 (125,000) 0
Debt issuance costs paid 0 (592) 0
Repurchase and retirement of common stock 30,815 48,311 5,799
Payment of dividends (16,874) (17,642) (17,822)
Net cash provided by (used in) financing activities: 912 (88,425) (59,739)
Effect of exchange rate changes on cash and cash equivalents 158 3,133 (590)
Net change in cash and cash equivalents 245 (21,850) 12,682
Cash and cash equivalents, beginning of year 14,837 36,687 24,005
Cash and cash equivalents, end of year 15,082 14,837 36,687
Supplemental disclosures of cash flow information:      
Cash paid for interest 6,062 8,999 13,023
Cash paid for income taxes $ 31,660 $ 16,118 $ 18,802