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Consolidated Statements of Cash Flows
12 Months Ended
Feb. 29, 2020
USD ($)
Feb. 28, 2019
USD ($)
Feb. 28, 2018
USD ($)
Cash provided by operating activities:      
Net income $ 152,333,000 $ 168,545,000 $ 44,446,000
Less: Loss from discontinued operations 0 (5,679,000) (84,436,000)
Income from continuing operations 152,333,000 174,224,000 128,882,000
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 37,409,000 29,927,000 33,730,000
Amortization of financing costs 1,620,000 1,015,000 887,000
Non-cash operating lease asset amortization 1,682,000    
Provision for doubtful receivables 529,000 1,097,000 1,066,000
Non-cash share-based compensation 22,929,000 22,053,000 15,054,000
Non-cash intangible asset impairment charges 41,000,000 0 15,447,000
Loss (gain) on the sale or disposal of property and equipment 188,000 (540,000) 331,000
Deferred income taxes and tax credits (5,696,000) 7,636,000 21,264,000
Changes in operating assets and liabilities, net of effects of acquisition of business:      
Receivables (60,562,000) (5,812,000) (44,921,000)
Inventories 45,482,000 (50,828,000) 29,366,000
Prepaid expenses and other current assets 863,000 239,000 (383,000)
Other assets and liabilities, net 24,075,000 7,549,000 (16,728,000)
Accounts payable 7,166,000 14,219,000 23,689,000
Accrued expenses and other current liabilities 5,296,000 (1,526,000) 12,293,000
Accrued income taxes (3,021,000) 1,315,000 (1,368,000)
Net cash provided by operating activities - continuing operations 271,293,000 200,568,000 218,609,000
Net cash provided (used) by operating activities - discontinued operations 0 (5,265,000) 5,598,000
Net cash provided by operating activities 271,293,000 195,303,000 224,207,000
Cash provided (used) by investing activities:      
Capital and intangible asset expenditures (17,759,000) (26,385,000) (13,605,000)
Proceeds from the sale of property and equipment 3,000 1,138,000 13,000
Payments to acquire businesses, net of cash acquired (255,861,000) 0 0
Net cash used by investing activities - continuing operations (273,617,000) (25,247,000) (13,592,000)
Net cash provided (used) by investing activities - discontinued operations 0 0 49,226,000
Net cash provided (used) by investing activities (273,617,000) (25,247,000) 35,634,000
Cash used by financing activities:      
Proceeds from line of credit 771,300,000 667,250,000 521,200,000
Repayment of line of credit (752,500,000) (635,450,000) (692,500,000)
Repayment of long-term debt (1,900,000) (1,900,000) (25,700,000)
Proceeds from share issuances under share-based compensation plans 8,189,000 8,670,000 7,863,000
Repurchases of common stock in the open market and from share settlements (10,169,000) (217,493,000) (73,053,000)
Net cash provided (used) by financing activities 14,920,000 (178,923,000) (262,190,000)
Net cash provided (used) by financing activities 12,596,000 (8,867,000) (2,349,000)
Cash and cash equivalents, beginning balance 11,871,000 20,738,000 23,087,000
Cash and cash equivalents, ending balance 24,467,000 11,871,000 20,738,000
Less: Cash and cash equivalents of discontinued operations, ending balance 0 0 0
Cash and cash equivalents of continuing operations, ending balance 24,467,000 11,871,000 20,738,000
Supplemental cash flow information:      
Interest paid 12,777,000 11,292,000 13,543,000
Income taxes paid, net of refunds 23,279,000 $ 4,277,000 $ 6,081,000
Supplemental non-cash items not included above resulting from the adoption of ASC 842      
Initial recognition of operating lease asset (37,082,000)    
Initial recognition of lease liabilities 47,223,000    
Accrued expenses and other current liabilities (2,873,000)    
Other assets and liabilities, net (7,311,000)    
Prepaid expenses and other current assets $ 43,000