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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2017
Cash flows from operating activities:      
Net earnings $ 37,437 $ 32,905 $ 1,780
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 9,071 8,033 7,934
Amortization of deferred finance charges 114 114 65
Amortization of intangible assets 7,118 6,058 4,673
Pre-tax loss from discontinued operations   2,000 36,775
Operating cash flows of discontinued operations     538
(Gain) loss from disposal of assets (217) 162 278
Bad debt expense, net of recoveries 212 (265) 263
Stock based compensation 1,397 1,337 1,361
Excess tax benefit of stock based compensation     (265)
Deferred income taxes (742) (1,794) 4,359
Net pension expense (1,683) (1,400) (443)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable 1,480 (21) 3,315
Prepaid expenses and income taxes 3,408 (2,699) 1,134
Inventories (3,580) 1,566 1,428
Other assets 5 65 (589)
Accounts payable and accrued expenses (2,383) (847) (140)
Other liabilities (302) 76 (3,579)
Net cash provided by operating activities 51,335 45,290 58,887
Cash flows from investing activities:      
Capital expenditures (4,824) (2,667) (3,065)
Purchase of businesses, net of cash acquired (27,389) (1,350) (18,584)
Proceeds from sale of discontinued operations     107,354
Investing cash flows of discontinued operations     (279)
Proceeds from disposal of plant and property 443 64 664
Net cash provided by (used in) investing activities (31,770) (3,953) 86,090
Cash flows from financing activities:      
Borrowings on debt     (10,000)
Dividends paid (22,611) (22,260) (57,200)
Common stock repurchases (4,811) (3,313) (8,443)
Proceeds from exercise of stock options 69   2,910
Excess tax benefit of stock based compensation     265
Net cash used in financing activities (27,353) (25,573) (72,468)
Net change in cash (7,788) 15,764 72,509
Cash at beginning of period 96,230 80,466 7,957
Cash at end of period $ 88,442 $ 96,230 $ 80,466