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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
May 29, 2021
May 30, 2020
Operating activities:    
Net loss $ (13,057) $ (63,541)
Net income (loss) from discontinued operations, net of tax   9,161
Net loss from continuing operations (13,057) (72,702)
Adjustments to reconcile to net cash (used in) provided by operating activities of continuing operations :    
Depreciation and amortization 75,859 79,103
Facility exit and impairment charges 8,831 3,753
Intangible asset impairment charges   29,852
LIFO credit (3,993) (12,066)
Gain on sale of assets, net (6,558) (2,260)
Stock-based compensation expense 2,811 1,874
Loss on debt retirements, net 396  
Changes in operating assets and liabilities:    
Accounts receivable (149,487) (308,636)
Inventories 11,918 43,647
Accounts payable 50,527 13,320
Operating lease right-of-use assets and operating lease liabilities (5,909) (6,595)
Other assets 7,978 99,177
Other liabilities 34,559 13,263
Net cash provided by (used in) operating activities of continuing operations 13,875 (118,270)
Investing activities:    
Payments for property, plant and equipment (59,164) (28,459)
Intangible assets acquired (5,436) (10,715)
Proceeds from dispositions of assets and investments 2,448 2,755
Proceeds from sale-leaseback transactions 7,456  
Net cash used in investing activities of continuing operations (54,696) (36,419)
Financing activities:    
Net proceeds from revolver 39,000 242,000
Principal payments on long-term debt (91,941) (1,298)
Change in zero balance cash accounts 51,957 (26,567)
Financing fees paid for early debt redemption (2)  
Payments for taxes related to net share settlement of equity awards (35) (99)
Deferred financing costs paid (580) (1,332)
Net cash (used in) provided by financing activities of continuing operations (1,601) 212,704
Cash flows from discontinued operations:    
Operating activities of discontinued operations 0 (82,189)
Investing activities of discontinued operations 0 94,310
Financing activities of discontinued operations 0 0
Net cash provided by discontinued operations 0 12,121
(Decrease) increase in cash and cash equivalents (42,422) 70,136
Cash and cash equivalents, beginning of period 160,902 218,180
Cash and cash equivalents, end of period $ 118,480 $ 288,316