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Compensation Related Costs, Retirement Benefits (Tables)
12 Months Ended
Feb. 24, 2023
Feb. 25, 2022
Retirement Benefits [Abstract]    
Employee Benefit Plan Obligation Summary [Table Text Block]
Employee Benefit Plan Obligations (net)February 24,
2023
February 25,
2022
Defined contribution retirement plans$17.0 $9.1 
Post-retirement medical benefits27.5 34.1 
Defined benefit pension plans41.1 48.5 
Deferred compensation plans and agreements46.3 56.9 
$131.9 $148.6 
Employee benefit plan assets
Long-term asset$2.3 $3.5 
$2.3 $3.5 
Employee benefit plan obligations
Current portion$31.2 $25.4 
Long-term portion103.0 126.7 
$134.2 $152.1 
 
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] The funded status of our defined benefit pension plans (excluding our investments in COLI policies) is as follows:
Defined Benefit Pension
Plan Obligations
February 24, 2023February 25, 2022
Qualified PlansNon-qualified
Supplemental
Retirement Plans
Qualified PlansNon-qualified
Supplemental
Retirement Plans
ForeignForeign
Plan assets$22.4 $— $35.2 $— 
Projected benefit plan obligations30.2 23.7 44.9 28.8 
Funded status$(7.8)$(23.7)$(9.7)$(28.8)
Long-term asset2.3 — 3.5 — 
Current liability(0.8)(3.6)(0.8)(3.9)
Long-term liability(9.3)(20.1)(12.4)(24.9)
Total benefit plan obligations$(7.8)$(23.7)$(9.7)$(28.8)
Accumulated benefit obligation$27.6 $23.7 $41.4 $28.8 
 
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following tables summarize our defined benefit pension and post-retirement plans:
Defined Benefit
Pension Plans
Post-Retirement
Plans
February 24,
2023
February 25,
2022
February 24,
2023
February 25,
2022
Change in plan assets:
Fair value of plan assets, beginning of year$35.2 $33.2 $— $— 
Actual return on plan assets(12.1)3.7 — — 
Employer contributions8.0 4.7 2.6 4.3 
Plan participants’ contributions— — 2.1 2.2 
Currency changes(3.5)(1.7)— — 
Benefits paid(5.2)(4.7)(4.7)(6.5)
Fair value of plan assets, end of year22.4 35.2 — — 
 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Change in benefit obligations:
Benefit plan obligations, beginning of year73.7 85.9 34.1 42.7 
Service cost0.7 1.4 0.1 0.1 
Interest cost1.6 1.3 1.1 1.0 
Amendments0.5 — — — 
Net actuarial gain (1)(13.5)(7.2)(5.1)(5.4)
Plan participants’ contributions— — 2.1 2.2 
Currency changes(3.9)(3.0)(0.1)— 
Benefits paid(5.2)(4.7)(4.7)(6.5)
Benefit plan obligations, end of year53.9 73.7 27.5 34.1 
Funded status$(31.5)$(38.5)$(27.5)$(34.1)
 
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized on the Consolidated Balance Sheets:
Long-term asset2.3 3.5 — — 
Current liability(4.4)(4.7)(2.8)(3.0)
Long-term liability(29.4)(37.3)(24.7)(31.1)
Net amount recognized$(31.5)$(38.5)$(27.5)$(34.1)
 
Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]
Amounts recognized in accumulated other comprehensive income (loss) —pretax:
Actuarial loss (gain)$8.7 $10.6 $(18.3)$(15.1)
Prior service cost0.5 0.9 — — 
Total amounts recognized in accumulated other comprehensive income (loss) —pretax$9.2 $11.5 $(18.3)$(15.1)
 
Schedule of Net Benefit Costs [Table Text Block]
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 24,
2023
February 25,
2022
February 26,
2021
February 24,
2023
February 25,
2022
February 26,
2021
Components of expense:
Service cost$0.7 $1.4 $1.9 $0.1 $0.1 $0.1 
Interest cost1.6 1.3 1.3 1.1 1.0 1.1 
Amortization of net loss (gain)0.2 1.2 1.1 (1.8)(1.4)(2.1)
Amortization of prior year service cost (credit)0.5 (0.1)— — — — 
Expected return on plan assets(0.4)(1.2)(0.9)— — — 
Net expense (credit) recognized in Consolidated Statements of Income2.6 2.6 3.4 (0.6)(0.3)(0.9)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) (pre-tax):
Net actuarial loss (gain)(1.0)(9.7)1.2 (5.1)(5.4)0.5 
Prior service cost0.5 — 0.1 — — — 
Amortization of gain (loss)(0.2)(1.2)(1.1)1.8 1.4 2.1 
Amortization of prior year service cost (credit)(0.5)0.1 — — — — 
Total recognized in other comprehensive income (loss)(1.2)(10.8)0.2 (3.3)(4.0)2.6 
Total recognized in net periodic benefit cost and other comprehensive income (loss) --
pre-tax
$1.4 $(8.2)$3.6 $(3.9)$(4.3)$1.7 
 
Pension and Other Post-Retirement Liability Adjustments [Table Text Block]
Pension and Other Post-Retirement Accumulated Other Comprehensive Income (Loss) Changes Before Tax
Amount
Tax (Expense)
Benefit
Net of
Tax Amount
Balance as of February 26, 2021$(11.7)$5.1 $(6.6)
Amortization of prior service cost (credit) included in net periodic pension cost(0.1)— (0.1)
   Net prior service (cost) credit during period(0.1)— (0.1)
Net actuarial gain (loss) arising during period15.1 (3.6)11.5 
Amortization of net actuarial (gain) loss included in net periodic pension cost(0.2)0.1 (0.1)
   Net actuarial gain (loss) during period14.9 (3.5)11.4 
Foreign currency translation adjustments0.5 — 0.5 
   Current period change15.3 (3.5)11.8 
Balance as of February 25, 2022$3.6 $1.6 $5.2 
Prior service (cost) credit from plan amendment arising during period(0.5)0.1 (0.4)
Amortization of prior service cost (credit) included in net periodic pension cost0.5 (0.1)0.4 
   Net prior service (cost) credit during period— — — 
Net actuarial gain (loss) arising during period6.1 (1.6)4.5 
Amortization of net actuarial (gain) loss included in net periodic pension cost(1.6)0.4 (1.2)
   Net actuarial gain (loss) during period4.5 (1.2)3.3 
Foreign currency translation adjustments1.0 (0.2)0.8 
   Current period change5.5 (1.4)4.1 
Balance as of February 24, 2023$9.1 $0.2 $9.3 
 
Defined Benefit Plan, Assumptions [Table Text Block]
Weighted-Average
Assumptions
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 24,
2023
February 25,
2022
February 26,
2021
February 24,
2023
February 25,
2022
February 26,
2021
Weighted-average assumptions used to determine benefit obligations:
Discount rate4.80 %2.50 %1.70 %5.47 %3.38 %2.58 %
Rate of salary progression0.60 %2.50 %3.50 %
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate2.50 %1.70 %1.70 %3.38 %2.58 %2.56 %
Expected return on plan assets1.40 %3.70 %3.00 %
Rate of salary progression2.50 %3.50 %3.40 %
 
Schedule of Allocation of Plan Assets [Table Text Block]
Our pension plans’ weighted-average investment allocation strategies and weighted-average target asset allocations by asset category as of February 24, 2023 and February 25, 2022 are reflected in the following table.
Asset CategoryFebruary 24, 2023February 25, 2022
Actual
Allocations
Target
Allocations
Actual
Allocations
Target
Allocations
Buy-in contract98 %100 %— %— %
Debt securities— — 78 50 
Other (1)— 22 50 
Total100 %100 %100 %100 %
________________________
(1)Represents cash and cash equivalents in 2023 and primarily represents money market funds in 2022.
 
Defined Benefit Plan, Plan Assets, Category
The fair value of the pension plan assets as of February 24, 2023 and February 25, 2022, by asset category are as follows:
Fair Value of Pension Plan AssetsFebruary 24, 2023
Level 1Level 2Level 3Total
Cash and cash equivalents$0.5 $— $— $0.5 
Buy-in contract— — 21.9 21.9 
$0.5 $— $21.9 $22.4 
Fair Value of Pension Plan AssetsFebruary 25, 2022
Level 1Level 2Level 3Total
Cash and cash equivalents$1.3 $— $— $1.3 
Fixed income securities - Bond funds— 33.7 — 33.7 
Other investments - Property and property funds— 0.2 — 0.2 
$1.3 $33.9 $— $35.2 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
Below is a roll-forward of the pension plan assets measured at estimated fair value using Level 3 inputs during the years ended February 24, 2023 and February 25, 2022:
Roll-forward of Fair Value Using Level 3 InputsPension Plan Assets
Balance as of February 25, 2022$— 
Initial buy-in contract premium24.2 
Other contributions1.4 
Change in estimated fair value(3.7)
Balance as of February 24, 2023$21.9 
 
Schedule of Expected Benefit Payments [Table Text Block] The estimated future benefit payments under our pension and post-retirement plans are as follows:
Fiscal Year Ending in FebruaryPension 
Plans
Post-retirement
Plans
2024
$5.2 $2.9 
20254.5 2.8 
20265.3 2.6 
20274.5 2.5 
20284.0 2.5 
2029 - 203317.8 11.0