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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Cash flows from operating activities:    
Net earnings $ 29,718 $ 29,233
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation 7,834 6,754
Amortization of deferred finance charges 47 85
Amortization of intangible assets 5,798 5,251
(Gain) loss from disposal of assets 4 (199)
Bad debt expense, net of recoveries (68) 475
Stock based compensation 1,018 1,036
Net pension expense 886 988
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable (151) 12
Prepaid expenses and income taxes 256 3,007
Inventories 1,535 (6,411)
Other assets 42 11
Accounts payable and accrued expenses (2,387) (3,374)
Other liabilities (99) (201)
Net cash provided by operating activities 44,433 36,667
Cash flows from investing activities:    
Capital expenditures (2,738) (3,778)
Purchase of businesses, net of cash acquired (18,733) (27,389)
Proceeds from disposal of plant and property 2 312
Net cash used in investing activities (21,469) (30,855)
Cash flows from financing activities:    
Repayment of debt (30,000)  
Dividends paid (17,622) (16,733)
Common stock repurchases (2,471) (4,560)
Proceeds from exercise of stock options   69
Net cash used in financing activities (50,093) (21,224)
Net change in cash (27,129) (15,412)
Cash at beginning of period 88,442 96,230
Cash at end of period $ 61,313 $ 80,818