$APOG

APOGEE ENTERPRISES, INC.

CIK:0000006845|SEC Filings

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 29, 2026	Aug. 30, 2025
Operating Activities
Net earnings	$ 33,917	$ 20,962
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	26,569	24,943
Share-based compensation	4,927	2,773
Deferred income taxes	3,494	17,214
Impairment of long-lived assets	0	7,418
Settlement of New Markets Tax Credit transaction	0	(4,597)
Non-cash lease expense	6,064	5,474
Other, net	4,137	4,129
Changes in operating assets and liabilities:
Receivables	4,666	(9,204)
Inventories	(9,931)	(9,735)
Contract assets	(9,379)	10,518
Accounts payable	(15,576)	(2,575)
Accrued compensation and benefits	2,971	(9,681)
Contract liabilities	(1,621)	15,734
Operating lease liability	(6,952)	(4,608)
Accrued income taxes	2,426	(11,008)
Other current assets and liabilities	(2,453)	(20,477)
Net cash provided by operating activities	43,259	37,280
Investing Activities
Capital expenditures	(17,796)	(11,827)
Purchases of marketable securities	(7,418)	(200)
Acquisition of business, net of cash acquired	(99,574)	0
Other, net	2,957	1,144
Net cash used in investing activities	(121,831)	(10,883)
Financing Activities
Proceeds from revolving credit facilities	161,000	76,000
Repayment on revolving credit facilities	(54,867)	(91,000)
Repayment of term loans	(2,867)	0
Repurchase of common stock	(16,099)	0
Dividends paid	(11,175)	(11,043)
Other, net	(1,117)	(3,087)
Net cash provided by (used in) financing activities	74,875	(29,130)
Effect of exchange rates on cash	702	811
Decrease in cash and cash equivalents	(2,994)	(1,922)
Cash and cash equivalents at beginning of period	39,523	41,448
Cash and cash equivalents at end of period	36,529	39,526
Non-cash Activity
Capital expenditures in accounts payable	$ 1,348	$ 2,202

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 29, 2026	Feb. 28, 2026
Current assets
Cash and cash equivalents	$ 36,529	$ 39,523
Receivables, net	206,327	198,516
Inventories, net	116,760	98,059
Contract assets	68,806	59,512
Other current assets	43,888	43,823
Total current assets	472,310	439,433
Property, plant and equipment, net	277,349	255,032
Operating lease right-of-use assets	42,534	48,736
Goodwill	255,499	236,744
Intangible assets, net	154,383	111,261
Other non-current assets	42,029	31,139
Total assets	1,244,104	1,122,345
Current liabilities
Accounts payable	89,423	105,478
Accrued compensation and benefits	45,506	39,667
Contract liabilities	59,343	60,903
Operating lease liabilities	14,618	14,729
Other current liabilities	55,749	46,079
Total current liabilities	264,639	266,856
Long-term debt	335,545	232,279
Non-current operating lease liabilities	32,351	39,375
Non-current self-insurance reserves	26,866	24,914
Other non-current liabilities	61,369	47,127
Commitments and contingent liabilities (Note 6)
Shareholders’ equity
Common stock of $0.33-1/3 par value; authorized 50,000,000 shares; issued and outstanding 20,893,469 and 21,220,350, respectively	6,964	7,073
Additional paid-in capital	160,039	159,085
Retained earnings	386,047	376,438
Accumulated other comprehensive loss	(29,716)	(30,802)
Total shareholders’ equity	523,334	511,794
Total liabilities and shareholders’ equity	$ 1,244,104	$ 1,122,345