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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2022
May 31, 2021
Cash Flows From Operating Activities:    
Net income $ 24,077 $ 22,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Bad debt recoveries (265) (218)
Amortization and depreciation 15,119 11,084
Deferred income taxes (2,722) (892)
Net (gain) loss on sale of property, plant and equipment (29) (15)
Amortization of deferred borrowing costs 1,541 139
Share-based compensation expense 1,998 1,811
Effects of changes in assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable (10,625) (7,966)
Inventories (19,054) (8,254)
Prepaid expenses and other (12,452) (5,419)
Other assets 300 (778)
Net change in contract assets and liabilities (12,689) (9,839)
Accounts payable 41,579 6,321
Other accrued liabilities and income taxes payable (3,464) 2,749
Net cash provided by operating activities 23,314 11,060
Cash Flows Used For Investing Activities:    
Proceeds from sale of property, plant and equipment 33 23
Purchase of property, plant and equipment (7,809) (7,489)
Acquisition of subsidiaries, net of cash acquired (1,298,513) 0
Net cash used in investing activities (1,306,289) (7,466)
Cash Flows From Financing Activities:    
Payments for taxes related to net share settlement of equity awards (2,313) (2,101)
Proceeds from revolving loan 39,000 35,000
Payments on revolving loan (116,000) (28,000)
Proceeds from long term debt 1,540,000 0
Payments of debt financing costs (87,555) 0
Repurchase and retirement of treasury stock 0 (6,264)
Payments of dividends (4,192) (4,245)
Net cash provided by (used in) financing activities 1,368,940 (5,610)
Effect of exchange rate changes on cash (49) (418)
Net increase (decrease) in cash and cash equivalents 85,916 (2,434)
Cash and cash equivalents at beginning of period 15,082 14,837
Cash and cash equivalents at end of period 100,998 12,403
Supplemental disclosures    
Cash paid for interest 4,161 394
Cash paid for income taxes $ 4,034 $ 1,322