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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 28, 2020
Nov. 30, 2019
Operating Activities    
Net earnings $ 57,807 $ 49,956
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 38,000 34,681
Share-based compensation 6,163 4,617
Deferred income taxes 5,012 10,088
Gain on disposal of assets (19,346) (623)
Noncash lease expense 9,531 8,993
Other, net (69) (2,007)
Changes in operating assets and liabilities:    
Receivables 24,153 (5,288)
Inventories (2,722) 2,474
Costs and earnings on contracts in excess of billings (44,501) 17,156
Accounts payable and accrued expenses (43,915) (22,457)
Billings on contracts in excess of costs and earnings (6,981) 4,901
Refundable and accrued income taxes 12,424 (6,159)
Operating lease liability (9,168) (7,468)
Other 5,122 (951)
Net cash provided by operating activities 120,512 53,601
Investing Activities    
Capital expenditures (17,116) (41,176)
Proceeds from sales of property, plant and equipment 23,724 591
Other (1,090) (857)
Net cash provided (used) by investing activities 5,518 (41,442)
Financing Activities    
Borrowings on line of credit 193,332 108,000
(Repayment) borrowings on debt (5,400) 150,000
Payments on line of credit 237,500 252,500
Repurchase and retirement of common stock 20,731 20,010
Dividends paid (14,546) (13,808)
Other (853) (2,584)
Net cash used by financing activities (85,698) (30,902)
Increase (decrease) in cash and cash equivalents 40,332 (18,743)
Effect of exchange rates on cash 129 32
Cash, cash equivalents and restricted cash at beginning of year 14,952 29,241
Cash, cash equivalents and restricted cash at end of period 55,413 10,530
Noncash Activity    
Capital expenditures in accounts payable $ 684 $ 1,205