Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
May. 30, 2015 |
May. 31, 2014 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 6,874
|
$ 15,055
|
| Adjustments to reconcile to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
13,454
|
11,000
|
| Stock-based compensation expense |
2,246
|
3,232
|
| Deferred compensation, net |
1,522
|
1,467
|
| Deferred income taxes |
524
|
2,748
|
| Excess tax benefit from stock-based awards |
(518)
|
(279)
|
| Amortization of deferred gains |
(893)
|
(893)
|
| Other |
798
|
506
|
| Changes in cash from: |
|
|
| Inventories |
(22,819)
|
(39,993)
|
| Prepaid expenses and other assets |
1,975
|
(3,157)
|
| Accounts payable and other liabilities |
32,972
|
56,432
|
| Accrued income taxes payable, net of payments |
(7,796)
|
(7,377)
|
| Net cash provided by operating activities |
28,339
|
38,741
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(9,389)
|
(15,325)
|
| Proceeds from disposition of properties |
13
|
33
|
| Proceeds from sale of restricted investments |
678
|
494
|
| Purchase of restricted investments |
(797)
|
(823)
|
| Net cash used in investing activities |
(9,495)
|
(15,621)
|
| Cash flows from financing activities: |
|
|
| Cash dividends |
(6,172)
|
(5,544)
|
| Purchases of treasury stock |
(16,136)
|
(117,404)
|
| Proceeds from stock options exercised, stock purchase plan and other, net |
411
|
(1,194)
|
| Excess tax benefit from stock-based awards |
518
|
279
|
| Issuance of long-term debt, net of discount |
|
198,000
|
| Repayments of long-term debt |
(500)
|
0
|
| Debt issuance costs |
|
(3,345)
|
| Net cash provided by (used in) financing activities |
(21,879)
|
70,792
|
| Change in cash and cash equivalents |
(3,035)
|
93,912
|
| Cash and cash equivalents at beginning of period |
100,064
|
126,695
|
| Cash and cash equivalents at end of period |
$ 97,029
|
$ 220,607
|