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Employee Benefit Plans (Tables)
 12 Months Ended
Mar. 03, 2018
Compensation And Retirement Disclosure [Abstract]  
Reconciliation of Benefit Obligations and Funded Status of Plans

The following provides a reconciliation of benefit obligations and funded status of the plans as of March 3, 2018 and February 25, 2017 (in thousands):

 

 

 

2018

 

 

2017

 

Change in projected benefit obligation:

 

 

 

 

 

 

 

 

Projected benefit obligation, beginning of year

 

$

7,671

 

 

$

28,191

 

Service cost

 

 

289

 

 

 

917

 

Interest cost

 

 

285

 

 

 

696

 

Actuarial loss

 

 

584

 

 

 

705

 

Benefits paid (including settlements)

 

 

(126

)

 

 

(24,355

)

Curtailment

 

 

81

 

 

 

1,517

 

Projected benefit obligation, end of year

 

$

8,784

 

 

$

7,671

 

Reconciliation of funded status:

 

 

 

 

 

 

 

 

Projected benefit obligation

 

$

8,784

 

 

$

7,671

 

Plan assets

 

 

—

 

 

 

—

 

Funded status

 

$

(8,784

)

 

$

(7,671

)

Accumulated benefit obligation

 

$

(8,784

)

 

$

(7,671

)

Amounts recognized in the balance sheets:

 

 

 

 

 

 

 

 

Current liability

 

$

(5,052

)

 

$

(127

)

Noncurrent liability

 

 

(3,732

)

 

 

(7,544

)

Accumulated other comprehensive loss, pre-tax

 

 

584

 

 

 

559

 

Net amount recognized

 

$

(8,200

)

 

$

(7,112

)

Cumulative other comprehensive income, net of taxes of $1,650       

   and $1,640 in fiscal 2018 and 2017, respectively

 

$

(1,066

)

 

$

(1,081

)

Weighted average assumptions used to determine:

 

 

 

 

 

 

 

 

Benefit obligation, end of year:

 

 

 

 

 

 

 

 

Discount rate

 

 

3.50

%

 

 

3.75

%

Lump-sum conversion discount rate

 

 

2.31

%

 

 

3.00

%

Rate of compensation increase

 

 

0.00

%

 

 

3.00

%

Net periodic benefit cost for years ended:

 

 

 

 

 

 

 

 

Discount rate

 

 

3.75

%

 

 

2.75

%

Lump-sum conversion discount rate

 

 

3.00

%

 

 

3.50

%

Rate of compensation increase

 

 

0.00

%

 

 

0.00

%

 
Components of Net Periodic Benefit Cost

Net periodic benefit cost included the following actuarially determined components during fiscal 2018, 2017 and 2016 as shown in the table below (in thousands). The amortization of amounts related to unrecognized prior service costs and net actuarial loss were reclassified out of other comprehensive income as a component of net periodic benefit cost.

 

 

 

2018

 

 

2017

 

 

2016

 

Service cost

 

$

289

 

 

$

917

 

 

$

1,468

 

Interest cost

 

 

285

 

 

 

696

 

 

 

634

 

Amortization of unrecognized prior service cost

 

 

30

 

 

 

45

 

 

 

59

 

Amortization of net actuarial loss

 

 

529

 

 

 

1,902

 

 

 

1,394

 

Settlement

 

 

—

 

 

 

1,868

 

 

 

—

 

Curtailment

 

 

81

 

 

 

1,562

 

 

 

—

 

Net periodic benefit cost

 

$

1,214

 

 

$

6,990

 

 

$

3,555