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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Nov. 25, 2023
Nov. 26, 2022
Operating Activities    
Net earnings $ 83,877 $ 83,885
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 31,185 31,925
Share-based compensation 6,644 5,961
Deferred income taxes 1,296 2,341
Gain on disposal of assets (50) (1,484)
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 8,742 8,924
Other, net 10 4,700
Changes in operating assets and liabilities:    
Receivables (846) (55,791)
Inventories 8,256 (5,822)
Contract assets 11,194 (8,314)
Accounts payable (1,902) (19,780)
Accrued expenses (7,015) 7,281
Contract liabilities 7,635 24,702
Refundable and accrued income taxes (7,587) (14,391)
Operating lease liability (9,214) (9,168)
Prepaid expenses and other current assets 1,714 (2,724)
Net cash provided by operating activities 129,252 51,112
Investing Activities    
Capital expenditures (26,956) (18,119)
Proceeds from sales of property, plant and equipment 247 5,212
Purchases of marketable securities (969) 0
Sales/maturities of marketable securities 1,370 923
Net cash used by investing activities (26,308) (11,984)
Financing Activities    
Borrowings on line of credit 195,851 430,879
Repayment on debt 0 (151,000)
Payments on line of credit (265,000) (239,000)
Payments on debt issuance costs 0 (790)
Repurchase and retirement of common stock (11,821) (74,312)
Dividends paid (15,690) (14,415)
Other, net (3,781) (2,959)
Net cash used by financing activities (100,441) (51,597)
Increase (decrease) in cash, cash equivalents and restricted cash 2,503 (12,469)
Effect of exchange rates on cash (569) 350
Cash, cash equivalents and restricted cash at beginning of year 21,473 37,583
Cash and cash equivalents at end of period 23,407 25,464
Noncash Activity    
Capital expenditures in accounts payable $ 1,231 $ 1,557