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Condensed Consolidated Statements of Cash Flows
$ in Thousands
9 Months Ended
Nov. 30, 2023
USD ($)
Cash flows from operating activities:  
Net earnings $ 32,451
Adjustments to reconcile net earnings to net cash provided by operating activities:  
Depreciation 7,465
Amortization of intangible assets 5,830
Loss from disposal of assets 53
Accrued interest on short-term investments (102)
Bad debt expense, net of recoveries 373
Stock based compensation 2,055
Net pension expense 1,439
Changes in operating assets and liabilities, net of the effects of acquisitions:  
Accounts receivable 8,228
Prepaid expenses and income taxes (4,126)
Inventories 6,828
Other assets 81
Accounts payable and accrued expenses (7,763)
Other liabilities (312)
Net cash provided by operating activities 52,500
Cash flows from investing activities:  
Capital expenditures (4,884)
Purchase of businesses, net of cash acquired (19,907)
Purchase of short-term investments (18,393)
Proceeds from disposal of plant and property 9
Net cash used in investing activities (43,175)
Cash flows from financing activities:  
Dividends paid (19,391)
Common stock repurchases 0
Net cash used in financing activities (19,391)
Net change in cash (10,066)
Cash at beginning of period 93,968
Cash at end of period $ 83,902