Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
May 27, 2016 |
May 29, 2015 |
| OPERATING ACTIVITIES: |
|
|
| Net income |
$ 26,470
|
$ 72,764
|
| Adjustments to reconcile net income to cash flows from operating activities: |
|
|
| Gain on sale of Strawberry Shortcake |
|
(61,666)
|
| Net (gain) loss on disposal of fixed assets |
(3)
|
9
|
| Depreciation and intangible assets amortization |
13,133
|
13,993
|
| Provision for doubtful accounts |
46
|
30
|
| Deferred income taxes |
571
|
6,951
|
| Other non-cash charges |
870
|
2,744
|
| Changes in operating assets and liabilities, net of dispositions: |
|
|
| Trade accounts receivable |
(11,494)
|
(23,034)
|
| Inventories |
(3,556)
|
(3,473)
|
| Other current assets |
700
|
(2,306)
|
| Net payable/receivable with related parties |
(212)
|
(50)
|
| Income taxes |
15,659
|
(2,584)
|
| Deferred costs - net |
16,924
|
5,276
|
| Accounts payable and other liabilities |
(98,440)
|
(104,603)
|
| Other - net |
(1,470)
|
(128)
|
| Total Cash Flows From Operating Activities |
(40,802)
|
(96,077)
|
| INVESTING ACTIVITIES: |
|
|
| Property, plant and equipment additions |
(25,692)
|
(13,392)
|
| Proceeds from sale of fixed assets |
4
|
9
|
| Proceeds from sale of Strawberry Shortcake |
|
105,000
|
| Proceeds from surrender of corporate-owned life insurance policies |
|
24,068
|
| Adjustment to proceeds from sale of AGI In-Store |
|
(3,200)
|
| Cash paid for acquired character property rights |
|
(2,800)
|
| Net (lending)/repayments on loans to related parties |
|
(2,479)
|
| Total Cash Flows From Investing Activities |
(25,688)
|
107,206
|
| FINANCING ACTIVITIES: |
|
|
| Proceeds from revolving line of credit |
39,400
|
94,150
|
| Repayments on revolving line of credit |
(35,350)
|
(40,450)
|
| Repayment on term loan |
|
(65,000)
|
| Total Cash Flows From Financing Activities |
4,050
|
(11,300)
|
| EFFECT OF EXCHANGE RATE CHANGES ON CASH |
1,840
|
(350)
|
| DECREASE IN CASH AND CASH EQUIVALENTS |
(60,600)
|
(521)
|
| Cash and Cash Equivalents at Beginning of Year |
100,893
|
43,327
|
| Cash and Cash Equivalents at End of Period |
$ 40,293
|
$ 42,806
|