Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Feb. 29, 2016 |
Feb. 28, 2015 |
Feb. 28, 2014 |
| Cash Flows From Operating Activities: |
|
|
|
| Net Income |
$ 76,790
|
$ 64,943
|
$ 59,597
|
| Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities: |
|
|
|
| Depreciation |
31,200
|
28,100
|
25,100
|
| Depreciation, Amortization and Accretion, Net |
47,417
|
46,089
|
43,305
|
| Deferred income tax expense |
2,707
|
15,818
|
842
|
| Share-based compensation expense |
4,538
|
4,080
|
3,703
|
| Amortization of deferred borrowing costs |
1,347
|
1,431
|
1,421
|
| Provision for doubtful accounts |
(1,072)
|
458
|
(116)
|
| Gain (Loss) on Disposition of Assets |
286
|
2,651
|
0
|
| Net (gain) loss on insurance settlement or sale of property, plant and equipment |
(327)
|
(2,525)
|
(8,039)
|
| Effects of changes in operating assets and liabilities, net of acquisitions: |
|
|
|
| Accounts Receivable |
(843)
|
(9,382)
|
35,955
|
| Inventories |
11,124
|
(879)
|
(6,209)
|
| Prepaid expenses and other assets |
1,996
|
5,543
|
(6,590)
|
| Net change in billings related to costs and estimated earnings on uncompleted contracts |
5,739
|
(5,635)
|
(9,732)
|
| Accounts payable |
(2,236)
|
11,026
|
(4,150)
|
| Other accrued liabilities and income taxes payable |
(3,877)
|
(15,460)
|
(2,712)
|
| Net cash provided by operating activities: |
143,589
|
118,157
|
107,275
|
| Cash flows from investing activities: |
|
|
|
| Proceeds from the sale or insurance settlement of property, plant, and equipment |
1,137
|
1,330
|
8,205
|
| Acquisition of subsidiaries, net of cash acquired |
(60,584)
|
(11,518)
|
(275,702)
|
| Purchases of property, plant and equipment |
(39,861)
|
(29,377)
|
(43,472)
|
| Net cash used in investing activities: |
(99,308)
|
(39,565)
|
(310,969)
|
| Cash flows from financing activities: |
|
|
|
| Tax benefits from stock options exercised |
1,025
|
259
|
1,602
|
| Payments on revolving loan |
(170,561)
|
(57,905)
|
(60,000)
|
| Proceeds from Lines of Credit |
181,481
|
10,977
|
197,000
|
| Proceeds from Issuance of Long-term Debt |
0
|
0
|
75,000
|
| Proceeds from long-term debt |
(21,786)
|
(20,848)
|
(17,098)
|
| Cash dividends paid |
(15,482)
|
(14,897)
|
(14,290)
|
| Net cash provided by (used in) financing activities |
(25,323)
|
(82,414)
|
176,333
|
| Effect of exchange rate changes on cash |
(1,294)
|
(1,216)
|
(672)
|
| Net increase (decrease) in cash and cash equivalents |
17,664
|
(5,038)
|
(28,033)
|
| Cash and cash equivalents at beginning of year |
22,527
|
27,565
|
55,598
|
| Cash and cash equivalents at end of year |
40,191
|
22,527
|
27,565
|
| Cash paid during the year for: |
|
|
|
| Interest |
14,228
|
15,613
|
16,500
|
| Income taxes |
21,574
|
15,264
|
26,332
|
| Payments of Debt Issuance Costs |
$ 0
|
$ 0
|
$ (5,881)
|