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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 earnings $ 10,687 $ 11,635
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,314 2,450
Amortization of intangible assets 1,929 1,894
Loss from disposal of assets 4 0
Accrued interest on short-term investments (408) 0
Bad debt expense, net of recoveries 110 135
Stock based compensation 1,760 686
Deferred income taxes 56 0
Net pension expense 496 462
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable 3,190 7,299
Prepaid expenses and income taxes 677 384
Inventories (966) (365)
Other assets 0 71
Accounts payable and accrued expenses 3,275 (2,698)
Other liabilities (19) (227)
Net cash provided by operating activities 23,105 21,726
Cash flows from investing activities:    
Capital expenditures (2,510) (2,101)
Purchase of businesses, net of cash acquired 0 (5,028)
Purchase of short-term investments (10,093) 0
Maturity of short-term investments 7,500 0
Proceeds from disposal of plant and property 51 0
Net cash used in investing activities (5,052) (7,129)
Cash flows from financing activities:    
Dividends paid (6,460) (6,459)
Common stock repurchases (1,827) 0
Net cash used in financing activities (8,287) (6,459)
Net change in cash 9,766 8,138
Cash at beginning of period 81,597 93,968
Cash at end of period $ 91,363 $ 102,106