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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 31, 2024
May 31, 2023
Cash Flows From Operating Activities:    
Net income (loss) available to common shareholders $ (36,796) $ 24,922
Dividends on preferred stock 1,200 3,600
Plus: Redemption premium on Series A Preferred Stock 75,198 0
Net income from continuing operations 39,602 28,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt expense 330 18
Depreciation and amortization 20,323 18,524
Deferred income taxes 3,164 (2,022)
Equity in earnings of unconsolidated entities (3,824) (1,420)
Distribution on investment in AVAIL joint venture 539 0
Net loss (gain) on sale of property, plant and equipment (16) (2)
Amortization of debt financing costs 3,109 3,029
Share-based compensation expense 2,535 1,904
Changes in current assets and current liabilities 7,610 (1,002)
Changes in other long-term assets and long-term liabilities (1,428) (658)
Net cash provided by operating activities 71,944 46,893
Cash flows from investing activities    
Purchase of property, plant and equipment (27,396) (17,036)
Other investing activities 17 9
Net cash used in investing activities (27,379) (17,027)
Cash flows from financing activities:    
Proceeds from secondary public offering and issuance of additional common stock 308,723 0
Redemption of Series A Preferred Stock (308,920) 0
Payments for taxes related to net share settlement of equity awards (4,567) (1,710)
Proceeds from revolving loan 75,000 92,000
Payments on revolving loan (70,000) (112,000)
Payments of debt financing costs (715) 0
Payments on long term debt and finance lease liabilities (30,196) 0
Payments of dividends (7,867) (7,835)
Net cash used in financing activities (38,542) (29,545)
Effect of exchange rate changes on cash 174 737
Net increase in cash and cash equivalents 6,197 1,058
Cash and cash equivalents at beginning of period 4,349 2,820
Cash and cash equivalents at end of period $ 10,546 $ 3,878