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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
May 27, 2022
Feb. 25, 2022
Assets, Current [Abstract]    
Cash and cash equivalents $ 116.7 $ 200.9
Accounts receivable, net of allowance of $8.2 and $8.0 349.0 340.4
Inventories 372.0 326.2
Prepaid expenses 29.8 24.0
Income taxes receivable 16.4 41.7
Other current assets 33.7 26.0
Total current assets 917.6 959.2
Property, plant and equipment, net of accumulated depreciation of $1,086.7 and $1,089.0 383.2 392.8
Company-owned life insurance ("COLI") 162.8 168.0
Deferred income taxes 120.8 121.2
Goodwill 241.8 242.8
Other intangible assets, net of accumulated amortization of $88.7 and $86.4 79.6 85.5
Investments in unconsolidated affiliates 53.1 53.1
Right-of-use operating lease assets 199.1 209.8
Other assets 28.8 28.6
Total assets 2,186.8 2,261.0
Liabilities, Current [Abstract]    
Accounts payable 256.9 243.6
Short-term borrowings and current portion of long-term debt 37.2 5.1
Current operating lease obligations 43.2 44.2
Accrued expenses:    
Employee compensation 61.9 75.6
Employee benefit plan obligations 19.5 25.4
Accrued promotions 30.3 32.9
Customer deposits 49.5 53.4
Other 88.8 87.0
Total current liabilities 587.3 567.2
Long-term liabilities:    
Long-term debt less current maturities 445.2 477.4
Employee benefit plan obligations 115.6 126.7
Long-term operating lease obligations 172.2 182.2
Other long-term liabilities 52.4 55.3
Total long-term liabilities 785.4 841.6
Total liabilities 1,372.7 1,408.8
Shareholders' equity:    
Additional paid-in capital [1] 10.3 1.5
Accumulated Other Comprehensive Income (Loss), Net of Tax (69.0) (50.6)
Retained earnings 872.8 901.3
Total shareholders’ equity 814.1 852.2
Total liabilities and shareholders’ equity $ 2,186.8 $ 2,261.0
[1] Shares of our Class A and Class B common stock have no par value; thus, there are no balances for common stock.