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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2022
May 31, 2021
Cash used by operating activities:    
Net income $ 24,595 $ 56,972
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 10,498 8,713
Amortization of financing costs 253 243
Non-cash operating lease expense 2,543 2,027
Provision for credit losses 320 0
Non-cash share-based compensation 16,619 14,020
Gain on sale of Latin America and Caribbean Personal Care business (1,336) 0
Deferred income taxes and tax credits 614 (3,811)
Changes in operating capital, net of effects of acquisitions of businesses:    
Receivables (14,639) (38,747)
Inventory (47,781) (58,860)
Prepaid expenses and other current assets 651 (2,414)
Other assets and liabilities, net (823) (3,185)
Accounts payable 10,027 (10,885)
Accrued expenses and other current liabilities (28,764) (35,574)
Accrued income taxes (11,205) 8,116
Net cash used by operating activities (38,428) (63,385)
Cash used by investing activities:    
Capital and intangible asset expenditures (76,202) (4,006)
Net payments to acquire businesses, net of cash acquired (148,111) 0
Proceeds from sale of Latin America and Caribbean Personal Care business 1,804 0
Net cash used by investing activities (222,509) (4,006)
Cash provided by financing activities:    
Proceeds from line of credit 447,000 221,100
Repayment of line of credit (153,000) (52,100)
Repayment of long-term debt (1,900) (1,900)
Proceeds from share issuances under share-based compensation plans 2,934 2,613
Payments for repurchases of common stock (18,224) (110,074)
Net cash provided by financing activities 276,810 59,639
Net increase (decrease) in cash and cash equivalents 15,873 (7,752)
Cash and cash equivalents, beginning balance 33,381 45,120
Cash and cash equivalents, ending balance 49,254 37,368
Supplemental non-cash investing activity:    
Capital expenditures included in accounts payable $ 12,812 $ 0