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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2021
May 31, 2020
Cash provided by operating activities:    
Net income $ 56,972 $ 60,286
Adjustments to reconcile net income to net cash (used) provided by operating activities:    
Depreciation and amortization 8,713 9,140
Amortization of financing costs 243 267
Non-cash operating lease expense 2,027 1,558
Provision for credit losses 0 1,738
Non-cash share-based compensation 14,020 9,291
Loss on the sale or disposal of property and equipment 0 6
Deferred income taxes and tax credits (3,811) 2,274
Changes in operating capital:    
Receivables (38,747) 13,516
Inventory (58,860) (16,017)
Prepaid expenses and other current assets (2,414) 1,490
Other assets and liabilities, net (3,185) (3,907)
Accounts payable (10,885) 40,963
Accrued expenses and other current liabilities (35,574) (16,010)
Accrued income taxes 8,116 (11,769)
Net cash (used) provided by operating activities (63,385) 92,826
Cash used by investing activities:    
Capital and intangible asset expenditures (4,006) (6,451)
Net cash used by investing activities (4,006) (6,451)
Cash provided (used) by financing activities:    
Proceeds from line of credit 221,100 765,200
Repayment of line of credit (52,100) (774,200)
Repayment of long-term debt (1,900) (1,900)
Payment of financing costs 0 (3,789)
Proceeds from share issuances under share-based compensation plans 2,613 2,377
Payments for repurchases of common stock (110,074) (10,013)
Net cash provided (used) by financing activities 59,639 (22,325)
Net (decrease) increase in cash and cash equivalents (7,752) 64,050
Cash and cash equivalents, beginning balance 45,120 24,467
Cash and cash equivalents, ending balance $ 37,368 $ 88,517