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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2015
Nov. 30, 2014
Cash provided (used) by operating activities:    
Net income $ 91,640 $ 90,614
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,946 29,075
Amortization of financing costs 869 1,457
Provision for doubtful receivables 501 417
Non-cash share-based compensation 6,146 4,539
Intangible asset impairment charges 3,000 9,000
Loss on the sale of property and equipment 66 43
Deferred income taxes and tax credits (3,833) (3,454)
Changes in operating capital, net of effects of acquisition of business:    
Receivables (66,981) (76,555)
Inventories (46,316) (23,468)
Prepaid expenses and other current assets (361) 2,946
Other assets and liabilities, net 8,251 4,638
Accounts payable 24,020 19,377
Accrued expenses and other current liabilities 22,892 (113)
Accrued income taxes 919 4,956
Net cash provided by operating activities 72,759 63,472
Cash provided (used) by investing activities:    
Capital and intangible asset expenditures (12,418) (4,893)
Proceeds from the sale of property and equipment 7  
Payments to acquire businesses (42,750) (195,943)
Net cash used by investing activities (55,161) (200,836)
Cash provided (used) by financing activities:    
Proceeds from line of credit 415,200 694,400
Repayment of line of credit (371,800) (254,400)
Repayment of long-term debt (1,900) (76,900)
Payment of financing costs (19) (2,321)
Proceeds from share issuances under share-based compensation plans, including tax benefits 10,778 5,268
Payment of tax obligations resulting from cashless share award exercises   (4,569)
Payment of tax obligations resulting from cashless share settlement of severance obligation (12,000)  
Payments for repurchases of common stock (50,000) (273,599)
Share-based compensation tax benefit 989 514
Net cash (used) provided by financing activities (8,752) 88,393
Net increase (decrease) in cash and cash equivalents 8,846 (48,971)
Cash and cash equivalents, beginning balance 12,295 70,027
Cash and cash equivalents, ending balance $ 21,141 $ 21,056