Table of Contents Liquidity and Capital Resources We have historically met our cash needs through a combination of cash flows from operating activities along with bank and bond market debt. Our cash requirements are generally for operating activities, cash dividend payments, capital improvements, debt repayment and acquisitions. We believe that our cash position, cash flows from operating activities and our expectation of continuing availability to draw upon our credit facilities are sufficient to meet our cash flow needs for the foreseeable future. The following table summarizes our cash flows by category for the periods presented (in thousands): Net cash provided by operating activities for fiscal 2020 was $144.8 million compared to $111.5 million for fiscal 2019. The increase in cash provided by operating activities for fiscal 2020 as compared to fiscal 2019 is primarily attributable to an increase in non-cash charges, related primarily to the loss on disposal of the nuclear logistic business and other impairment charges, and positive impacts from improvements in working capital resulting from our stronger focus on collections and inventory management. Net cash used in investing activities for fiscal 2020 was $71.7 million as compared to $32.1 million for fiscal 2019. The increase in cash used during fiscal 2020 was primarily attributable to increased acquisition activity and higher capital expenditures, partially offset from the net proceeds received from the divestiture of the nuclear logistics business. The breakdown of capital spending by segment for fiscal 2020, 2019 and 2018 can be found in Note 12 to the Consolidated Financial Statements. Net cash used in financing activities for fiscal 2020 was $59.7 million compared to $74.8 million for fiscal 2019. The decrease in cash used for financing activities during fiscal 2020 was primarily attributable to lower net borrowings and was partially offset by increased treasury share activity. On March 27, 2013, the Company entered into a credit agreement (the “Credit Agreement”) with Bank of America and other lenders. The Credit Agreement provided for a $75.0 million term facility and a $225.0 million revolving credit facility that included a $75.0 million “accordion” feature. The Credit Agreement is used to provide for working capital needs, capital improvements, dividends, future acquisitions and letter of credit needs. On March 21, 2017, the Company executed the Amended and Restated Credit Agreement (the “2017 Credit Agreement”) with Bank of America and other lenders. The 2017 Credit Agreement amended the Credit Agreement by the following: (i) extending the maturity date until March 21, 2022, (ii) providing for a senior revolving credit facility in a principal amount of up to $450 million, with an additional $150 million accordion, (iii) including a $75 million sublimit for the issuance of standby and commercial letters of credit, (iv) including a $30 million sublimit for swing line loans, (v) restricting indebtedness incurred in respect of capital leases, synthetic lease obligations and purchase money obligations not to exceed $20 million, (vi) restricting investments in any foreign subsidiaries not to exceed $50 million in the aggregate, and (vii) including various financial covenants and certain restricted payments relating to dividends and share repurchases as specifically set forth in the 2017 Credit Agreement. The balance due on the $75.0 million term facility under the previous Credit Agreement was paid in full as a result of the execution of the 2017 Credit Agreement. The financial covenants, as defined in the 2017 Credit Agreement, require the Company to maintain on a consolidated basis a Leverage Ratio not to exceed 3.25:1.0 and an Interest Coverage Ratio of at least 3.00:1.0. The 2017 Credit Agreement will be used to finance working capital needs, capital improvements, dividends, future acquisitions, letter of credit needs and potential share repurchases. 20 2017 Revolving Credit Facility Financing and Capital Cash Flows Twelve Months Ended February 29, 2020 February 28, 2019 Net cash provided by operating activities $ 144,759 $ 111,476 Net cash used in investing activities (71,748) (32,073) Net cash used in financing activities (59,739 ) (74,812 )