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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Feb. 28, 2018
Cash flows from operating activities:      
Net earnings $ 38,292 $ 37,437 $ 32,905
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 10,425 9,071 8,033
Amortization of deferred finance charges 47 114 114
Amortization of intangible assets 7,769 7,118 6,058
Pre-tax loss from discontinued operations     2,000
(Gain) loss from disposal of assets (87) (217) 162
Bad debt expense, net of recoveries (59) 212 (265)
Stock based compensation 1,369 1,397 1,337
Deferred income taxes 478 (742) (1,794)
Net pension expense (1,819) (1,683) (1,400)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable 1,781 1,480 (21)
Prepaid expenses and income taxes (1,538) 3,408 (2,699)
Inventories 3,241 (3,580) 1,566
Other assets 43 5 65
Accounts payable and accrued expenses (2,614) (2,383) (847)
Other liabilities (109) (302) 76
Net cash provided by operating activities 57,219 51,335 45,290
Cash flows from investing activities:      
Capital expenditures (3,394) (4,824) (2,667)
Purchase of businesses, net of cash acquired (18,733) (27,389) (1,350)
Proceeds from disposal of plant and property 681 443 64
Net cash used in investing activities (21,446) (31,770) (3,953)
Cash flows from financing activities:      
Repayment of debt (30,000)    
Dividends paid (23,486) (22,611) (22,260)
Common stock repurchases (2,471) (4,811) (3,313)
Proceeds from exercise of stock options   69  
Net cash used in financing activities (55,957) (27,353) (25,573)
Net change in cash (20,184) (7,788) 15,764
Cash at beginning of period 88,442 96,230 80,466
Cash at end of period $ 68,258 $ 88,442 $ 96,230