| (in millions) | ||||||
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| Year Ended | February 27, 1998 | February 28, 1997 | February 23, 1996 | |||
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| Operating Activities | ||||||
| Net income | $ | 217.0 | $ | 27.7 | $ | 123.5 |
| Adjustments to reconcile net income to | ||||||
| net cash provided by operating activities: | ||||||
| Depreciation and amortization | 95.3 | 93.4 | 92.5 | |||
| Postretirement benefit cost | 15.9 | 14.2 | 13.9 | |||
| Loss on disposal of assets | 4.3 | 14.0 | 4.6 | |||
| Employee stock grant | 4.2 | — | — | |||
| Deferred income taxes | (4.7) | 1.8 | (12.2) | |||
| Equity in net income of joint ventures | ||||||
| and dealer transitions | (7.9) | — | (4.0) | |||
| Changes in operating assets and liabilities, | ||||||
| net of corporate acquisitions: | ||||||
| Accounts receivable | (36.7) | (59.9) | 25.9 | |||
| Notes receivable and leased assets | (69.3) | (45.9) | (63.4) | |||
| Inventories | 2.2 | 31.5 | 15.5 | |||
| Prepaid expenses and other assets | 3.7 | (3.5) | 3.8 | |||
| Accounts and notes payable | 12.7 | 12.3 | 0.1 | |||
| Accrued expenses and other liabilities | 96.7 | (4.8) | 0.5 | |||
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| Net cash provided by operating activities | 333.4 | 80.8 | 200.7 | |||
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| Investing Activities | ||||||
| Capital expenditures | (126.4) | (122.0) | (104.6) | |||
| Proceeds from the sale of facilities | 1.2 | 7.5 | — | |||
| Net change in investments | (20.7) | 6.6 | 5.3 | |||
| Joint ventures and dealer transitions | 0.8 | 36.5 | (2.6) | |||
| Corporate acquisitions, net of cash acquired | (4.8) | (4.0) | (14.0) | |||
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| Net cash used in investing activities | (149.9) | (75.4) | (115.9) | |||
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| Financing Activities | ||||||
| Common stock issuance (repurchase) | (43.5) | 1.4 | — | |||
| Dividends paid | (210.9) | (41.8) | (39.8) | |||
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| Net cash used in financing activities | (254.4) | (40.4) | (39.8) | |||
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| Net increase (decrease) in cash and cash equivalents | (70.9) | (35.0) | 45.0 | |||
| Cash and cash equivalents, beginning of period | 174.0 | 209.0 | 164.0 | |||
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| Cash and cash equivalents, end of period | $ | 103.1 | $ | 174.0 | $ | 209.0 |
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| The accompanying notes are an integral part of these consolidated financial statements. | ||||||
