XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Cash provided by operating activities:    
Net income $ 72,834 $ 125,860
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,850 37,037
Amortization of financing costs 957 923
Non-cash operating lease expense 8,583 7,537
Provision for credit losses (537) 5,421
Non-cash share-based compensation 16,050 25,105
Gain on sale of distribution and office facilities  0 (34,190)
Gain on the sale or disposal of property and equipment (10) (326)
Deferred income taxes and tax credits 8,400 13,430
Changes in operating capital:    
Receivables (61,806) (87,575)
Inventory (54,745) 29,459
Prepaid expenses and other current assets (9,700) (5,507)
Other assets and liabilities, net (428) (1,082)
Accounts payable 71,042 102,295
Accrued expenses and other current liabilities (2,845) 22,484
Accrued income taxes (10,409) (8,412)
Net cash provided by operating activities 78,236 232,459
Cash (used) provided by investing activities:    
Capital and intangible asset expenditures (22,155) (29,681)
Payments for purchases of U.S. Treasury Bills (3,441) (7,373)
Proceeds from the maturity of U.S. Treasury Bills 1,872 0
Proceeds from sale of distribution and office facilities 0 49,456
Proceeds from the sale of property and equipment 145 1,609
Net cash (used) provided by investing activities (23,579) 14,011
Cash used by financing activities:    
Proceeds from revolving loans 747,840 635,800
Repayment of revolving loans (675,890) (830,800)
Repayment of long-term debt (4,687) (4,687)
Payment of financing costs (323) 0
Proceeds from share issuances under share-based compensation plans 3,880 4,232
Payments for repurchases of common stock (103,174) (54,841)
Net cash used by financing activities (32,354) (250,296)
Net increase (decrease) in cash and cash equivalents 22,303 (3,826)
Cash and cash equivalents, beginning balance 18,501 29,073
Cash and cash equivalents, ending balance 40,804 25,247
Supplemental non-cash investing activity:    
Capital expenditures included in accounts payable and accrued expenses $ 6,935 $ 2,439