XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Cash flows from operating activities:    
Net earnings $ 22,545,000 $ 23,821,000
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 4,974,000 5,194,000
Amortization of intangible assets 3,867,000 3,513,000
Loss from disposal of assets 52,000 0
Bad debt expense, net of recoveries 235,000 393,000
Stock based compensation 1,371,000 936,000
Net pension expense 959,000 810,000
Changes in operating assets and liabilities:    
Accounts receivable 7,449,000 (5,258,000)
Prepaid expenses and income taxes (2,414,000) (215,000)
Inventories 2,583,000 (9,853,000)
Other assets 62,000 (426,000)
Accounts payable and accrued expenses (6,452,000) 2,805,000
Other liabilities (297,000) 35,000
Net cash provided by operating activities 34,934,000 21,755,000
Cash flows from investing activities:    
Capital expenditures (3,720,000) (1,801,000)
Purchase of businesses, net of cash acquired (11,932,000) 0
Proceeds from disposal of plant and property 12,000 0
Net cash used in investing activities (15,640,000) (1,801,000)
Cash flows from financing activities:    
Dividends paid (12,922,000) (12,921,000)
Common stock repurchases 0 (1,119,000)
Net cash used in financing activities (12,922,000) (14,040,000)
Net change in cash 6,372,000 5,914,000
Cash at beginning of period 93,968,000 85,606,000
Cash at end of period $ 100,340,000 $ 91,520,000