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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2019
Cash flows from operating activities:      
Net earnings $ 24,094 $ 38,292 $ 37,437
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 9,922 10,425 9,071
Amortization of deferred finance charges   47 114
Amortization of intangible assets 8,115 7,769 7,118
Gain from disposal of assets (405) (87) (217)
Bad debt expense, net of recoveries 1,044 (59) 212
Stock based compensation 1,243 1,369 1,397
Deferred income taxes (2,713) 478 (742)
Net pension expense 3,928 (1,819) (1,683)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable 6,117 1,781 1,480
Prepaid expenses and income taxes 2,100 (1,538) 3,408
Inventories 3,187 3,241 (3,580)
Other assets (124) 43 5
Accounts payable and accrued expenses (3,340) (2,614) (2,383)
Other liabilities (351) (109) (302)
Net cash provided by operating activities 52,817 57,219 51,335
Cash flows from investing activities:      
Capital expenditures (3,679) (3,394) (4,824)
Purchase of businesses, net of cash acquired (19,202) (18,733) (27,389)
Proceeds from disposal of plant and property 1,698 681 443
Net cash used in investing activities (21,183) (21,446) (31,770)
Cash flows from financing activities:      
Repayment of debt   (30,000)  
Dividends paid (23,467) (23,486) (22,611)
Common stock repurchases (1,235) (2,471) (4,811)
Proceeds from exercise of stock options     69
Net cash used in financing activities (24,702) (55,957) (27,353)
Net change in cash 6,932 (20,184) (7,788)
Cash at beginning of period 68,258 88,442 96,230
Cash at end of period $ 75,190 $ 68,258 $ 88,442