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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 29, 2024
Feb. 28, 2023
Feb. 28, 2022
Cash provided by operating activities:      
Net income $ 168,594 $ 143,273 $ 223,764
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 51,499 44,683 35,829
Amortization of financing costs 1,235 1,114 986
Non-cash operating lease expense 10,191 9,702 9,580
Provision for credit losses 6,103 1,798 312
Non-cash share-based compensation 33,872 26,753 34,618
Non-cash restructuring charges 1,772 0 0
Loss on extinguishment of debt 489 0 0
Gain on sale of distribution and office facilities (34,190) 0 0
Gain on sale of Personal Care business 0 (1,336) (513)
(Gain) loss on the sale or disposal of property and equipment (233) 63 (2,243)
Deferred income taxes and tax credits 13,210 (2,242) (8,871)
Changes in operating capital, net of effects of acquisition of businesses:      
Receivables (18,668) 83,624 (66,834)
Inventory 58,192 110,304 (45,913)
Prepaid expenses and other current assets (2,405) 2,778 (5,589)
Other assets and liabilities, net (2,830) (355) (6,595)
Accounts payable 54,403 (115,931) (43,745)
Accrued expenses and other current liabilities (36,287) (88,040) (3,593)
Accrued income taxes 1,120 (7,946) 19,630
Net cash provided by operating activities 306,067 208,242 140,823
Cash provided (used) by investing activities:      
Capital and intangible asset expenditures (36,644) (174,864) (78,039)
Net payments to acquire businesses, net of cash acquired 0 (146,342) (410,880)
Payments for purchases of U.S. Treasury Bills (9,605) 0 0
Proceeds from maturity of U.S. Treasury Bills 622 0 0
Proceeds from sale of distribution and office facilities 49,456 0 0
Proceeds from sale of Personal Care business 0 1,804 44,700
Proceeds from the sale of property and equipment 1,620 69 5,305
Net cash provided (used) by investing activities 5,449 (319,333) (438,914)
Cash (used) provided by financing activities:      
Proceeds from revolving loans 1,415,511 685,800 998,200
Repayment of revolving loans (1,686,580) (795,300) (527,700)
Proceeds from term loans 248,868 250,000 0
Repayment of long-term debt (246,875) (19,832) (1,900)
Payment of financing costs (2,025) (586) 0
Proceeds from share issuances under share-based compensation plans 4,235 5,066 5,956
Payments for repurchases of common stock (55,222) (18,365) (188,204)
Net cash (used) provided by financing activities (322,088) 106,783 286,352
Net cash (used) provided by financing activities (10,572) (4,308) (11,739)
Cash and cash equivalents, beginning balance 29,073 33,381 45,120
Cash and cash equivalents, ending balance 18,501 29,073 33,381
Supplemental cash flow information:      
Interest paid 52,537 43,687 11,694
Income taxes paid, net of refunds 28,855 37,082 22,831
Supplemental non-cash investing activity:      
Capital expenditures included in accounts payable $ 7,491 $ 5,847 $ 6,858