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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 31, 2019
May 31, 2018
Cash flows from operating activities:    
Net earnings $ 9,632 $ 9,247
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 2,477 2,035
Amortization of deferred finance charges 28 28
Amortization of intangible assets 1,904 1,415
Gain from disposal of assets   (4)
Bad debt expense, net of recoveries 40 135
Stock based compensation 358 327
Net pension expense 295 329
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable 412 453
Prepaid expenses and income taxes 755 3,391
Inventories (93) (3,505)
Accounts payable and accrued expenses 487 (1,964)
Other liabilities (624) 3
Net cash provided by operating activities 15,671 11,890
Cash flows from investing activities:    
Capital expenditures (802) (1,205)
Purchase of businesses, net of cash acquired (8,859) (4,736)
Proceeds from disposal of plant and property   4
Net cash used in investing activities (9,661) (5,937)
Cash flows from financing activities:    
Dividends paid (5,875) (5,083)
Common stock repurchases (1,212) (680)
Net cash used in financing activities (7,087) (5,763)
Net change in cash (1,077) 190
Cash at beginning of period 88,442 96,230
Cash at end of period $ 87,365 $ 96,420