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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Aug. 26, 2023
Aug. 27, 2022
Operating Activities    
Net earnings $ 56,903 $ 60,120
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 20,661 21,448
Share-based compensation 4,483 3,394
Deferred income taxes (4,281) 6,858
Gain on disposal of assets (62) (695)
Proceeds from New Markets Tax Credit transaction, net of deferred costs 0 18,390
Settlement of New Markets Tax Credit transaction (4,687) (19,523)
Noncash lease expense 6,153 6,160
Other, net (1,121) 3,836
Changes in operating assets and liabilities:    
Receivables (8,238) (71,720)
Inventories 5,841 (17,636)
Contract assets 8,992 6,754
Accounts payable and accrued expenses (21,096) (11,793)
Contract liabilities 4,244 20,927
Refundable and accrued income taxes 4,292 (20,486)
Operating lease liability (6,608) (6,684)
Prepaid expenses and other current assets (2,912) (1,993)
Net cash provided (used) by operating activities 62,564 (2,643)
Investing Activities    
Capital expenditures (15,018) (9,255)
Proceeds from sales of property, plant and equipment 143 4,122
Purchases of marketable securities (969) 0
Sales/maturities of marketable securities 775 450
Net cash used by investing activities (15,069) (4,683)
Financing Activities    
Borrowings on line of credit 174,853 409,880
Repayment on debt 0 (151,000)
Payments on line of credit (199,000) (171,000)
Payments on debt issue costs 0 (687)
Repurchase and retirement of common stock (11,821) (74,312)
Dividends paid (10,467) (9,602)
Other, net (3,705) (2,815)
Net cash (used) provided by financing activities (50,140) 464
Decrease in cash, cash equivalents and restricted cash (2,645) (6,862)
Effect of exchange rates on cash (405) 28
Cash, cash equivalents and restricted cash at beginning of year 21,473 37,583
Cash and cash equivalents at end of period 18,423 30,749
Noncash Activity    
Capital expenditures in accounts payable $ 2,493 $ 2,019