XML 26 R17.htm IDEA: XBRL DOCUMENT v3.22.2.2
Leases, Codification Topic 842
 6 Months Ended
Aug. 26, 2022
Leases [Abstract]  
Lessee, Operating Leases LEASES
We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment that expire at various dates through 2036. Certain lease agreements include contingent rental payments based on per unit usage over contractual levels (e.g., miles driven or machine hours operated) and others include rental payments adjusted periodically for inflationary indexes. Additionally, some leases include options to renew or terminate the leases which can be exercised at our discretion.
The components of lease expense for the three and six months ended August 26, 2022 and August 27, 2021 are as follows:
Three Months EndedSix Months Ended
August 26,
2022		August 27,
2021		August 26,
2022		August 27,
2021
Operating lease cost$13.5 $13.2 $25.6 $26.3 
Sublease rental income(0.5)(0.5)(1.1)(0.9)
$13.0 $12.7 $24.5 $25.4 
Supplemental cash flow and other information related to leases for the three and six months ended August 26, 2022 and August 27, 2021 are as follows:
Three Months EndedSix Months Ended
August 26,
2022		August 27,
2021		August 26,
2022		August 27,
2021
Cash flow information:
Operating cash flows used for operating leases$13.6 $13.4 $27.1 $26.8 
Leased assets obtained in exchange for new operating lease obligations$10.3 $15.7 $13.5 $17.3 
As of August 26, 2022 and August 27, 2021, the weighted-average remaining lease terms were 5.6 years and 6.2 years, respectively, and the weighted-average discount rates were 3.7% and 3.7%, respectively.
The following table summarizes the future minimum lease payments as of August 26, 2022:
Fiscal year ending in FebruaryAmount (1)
2023$23.3 
202449.0 
202544.7 
202634.9 
202728.1 
Thereafter53.0 
Total lease payments$233.0 
Less: Interest23.6 
Present value of lease liabilities$209.4 
_______________________________________
(1)Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced.