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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2023
May 31, 2022
Cash provided (used) by operating activities:    
Net income $ 22,581 $ 24,595
Adjustments to reconcile net income to net cash provided (used) by operating activities:    
Depreciation and amortization 10,715 10,498
Amortization of financing costs 308 253
Non-cash operating lease expense 2,338 2,543
Provision for credit losses 3,389 320
Non-cash share-based compensation 9,297 16,619
Gain on sale of Personal Care business 0 (1,336)
Gain on the sale or disposal of property and equipment (246) 0
Deferred income taxes and tax credits 3,897 614
Changes in operating capital, net of effects of acquisitions of businesses:    
Receivables 26,733 (14,639)
Inventory 21,572 (47,781)
Prepaid expenses and other current assets (1,420) 651
Other assets and liabilities, net (656) (823)
Accounts payable 36,644 10,027
Accrued expenses and other current liabilities (10,734) (28,764)
Accrued income taxes (3,362) (11,205)
Net cash provided (used) by operating activities 121,056 (38,428)
Cash used by investing activities:    
Capital and intangible asset expenditures (11,877) (76,202)
Net payments to acquire businesses, net of cash acquired 0 (148,111)
Proceeds from sale of Personal Care business 0 1,804
Proceeds from the sale of property and equipment 246 0
Net cash used by investing activities (11,631) (222,509)
Cash (used) provided by financing activities:    
Proceeds from revolving loans 70,150 447,000
Repayment of revolving loans (166,150) (153,000)
Repayment of long-term debt (1,563) (1,900)
Proceeds from share issuances under share-based compensation plans 2,380 2,934
Payments for repurchases of common stock (4,446) (18,224)
Net cash (used) provided by financing activities (99,629) 276,810
Net increase in cash and cash equivalents 9,796 15,873
Cash and cash equivalents, beginning balance 29,073 33,381
Cash and cash equivalents, ending balance 38,869 49,254
Supplemental non-cash investing activity:    
Capital expenditures included in accounts payable $ 2,579 $ 12,812