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Income Taxes Income Tax Reconciliation (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 28, 2014
Feb. 22, 2013
Feb. 24, 2012
U.S. federal statutory tax rate 35.00%    
Tax expense at the U.S. federal statutory rate $ 51.5 $ 19.2 $ 28.7
Foreign Subsidiary Liquidation 7.7 [1] 0 [1] 0 [1]
Foreign dividends, less applicable foreign tax credits 0.2 [2] (57.6) [2] 1.3 [2]
Valuation allowance provisions and adjustments 8.4 [3] 40.0 [3] 0.7 [3]
Goodwill impairment 2.7 [4] 12.3 [4] 0 [4]
COLI income (1.5) [5] (3.1) [5] (2.9) [5]
Sale of subsidiary 0 [6] 0 [6] (2.3) [6]
State and local income taxes, net of federal 6.6 2.9 1.9
Foreign operations, less applicable foreign tax credits 2.1 [7] 2.5 [7] 0.7 [7]
Research tax credit (1.4) (1.9) (1.6)
Tax reserve adjustments 0.2 0.7 1.1
Other (1.6) 1.1 (2.3)
Income tax expense 59.5 16.1 25.3
PolyvisionSASandPolyvisionA/S [Member]
     
Proceeds from divestiture of businesses   2.3  
France [Member]
     
Valuation allowance provisions and adjustments 44.2 [3]    
United Kingdom [Member]
     
Valuation allowance provisions and adjustments (4.9) [3]    
Remaining utilization within the allowable period [Member]
     
Foreign dividends, less applicable foreign tax credits (21.0)    
Foreign tax credit - deemed dividend [Member]
     
Foreign dividends, less applicable foreign tax credits (56.7)    
Subsidary Cash Dividends [Member]
     
Foreign dividends, less applicable foreign tax credits $ 0.9    
[1] In 2014, a group of foreign subsidiaries was liquidated for tax purposes, triggering a U.S. worthless stock deduction equal to the remaining tax basis in the group and a U.S. deduction for uncollectible intercompany balances due from the group.
[2] Foreign tax credit carryforwards of $21.0 are expected to be utilized within the remaining allowable 10 year carryfoward period. The foreign tax credit carryforwards were generated in 2013 when we converted a wholly owned French holding company from a disregarded entity to a controlled foreign corporation for U.S. tax purposes, and that conversion caused outstanding intercompany debt to be treated as a deemed dividend taxable in the U.S. Foreign taxes paid on the income that generated the deemed dividend exceeded the U.S. tax cost creating an excess foreign tax credit of $56.7. Additionally, other cash dividends received from our Canadian subsidiary resulted in excess foreign tax credits of $0.9 in 2013.
[3] The valuation allowance provisions were based on current year activity, and the valuation allowance adjustments were based on various factors, which are further detailed below.
[4] The impairment charges related to goodwill recorded in purchase accounting are non-deductible.
[5] The net returns in cash surrender value, normal insurance expenses and death benefit gains related to our investments in COLI policies are non-taxable.
[6] In Q2 2012, we completed the sale of PolyVision’s remaining low margin whiteboard fabrication business in Europe to a third party for proceeds totaling $2.3. The transaction included the sale of PolyVision SAS (France) and PolyVision A/S (Denmark). Basis differences resulted in a tax benefit of $2.3.
[7] The foreign operations, less applicable foreign tax credits amount includes the rate differential on foreign operations, U.S. tax cost of foreign branches and the impact of rate reductions in foreign jurisdictions.