Income Taxes (Tables)

12 Months Ended

Mar. 01, 2014

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Earnings before income taxes consisted of the following:

(In thousands)	2014		2013		2012
U.S.	$	36,700	$	26,699	$	3,406
International	3,066		208		190
Earnings before income taxes	$	39,766	$	26,907	$	3,596

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for each of the last three fiscal years are as follows:

(In thousands)	2014			2013			2012
Current:
Federal	$	15,711		$	5,036		$	2,208
State and local	1,440			169			554
International	1,437			409			615
Total current	$	18,588		$	5,614		$	3,377
Deferred:
Federal	$	(4,549	)	$	2,680		$	(600	)
State and local	(378		)	1,015			(401		)
International	(353		)	(138		)	(114		)
Total deferred	$	(5,280	)	$	3,557		$	(1,115	)
Total non-current tax benefit	$	(1,528	)	$	(1,375	)	$	(3,311	)
Total income tax expense (benefit)	$	11,780		$	7,796		$	(1,049	)

Schedule of Effective Income Tax Rate Reconciliation

The differences between the statutory federal income tax rates and consolidated effective tax rates are as follows:

	2014	2013	2012
Federal income tax expense at statutory rates	35.0%	35.0%	35.0%
State and local income taxes, net of federal tax benefit	0.9	0.9	(5.2)
Tax credits - research & development	(1.6)	(2.5)	(19.2)
Tax credits - other	(0.2)	(0.4)	(3.0)
Manufacturing deduction	(3.5)	(2.0)	(10.7)
Meals and entertainment	0.6	0.9	5.0
Permanent tax adjustment for officers compensation	0.1	—	3.0
Nondeductible acquisition costs	0.3	—	—
Tax-exempt interest	(0.2)	(0.4)	(3.0)
Tax reserve adjustments - statute expirations and benefits recognized	(2.2)	(3.0)	(42.2)
Change in valuation allowance	0.4	0.8	10.4
Other, net	—	—	1.1
Income tax expense (benefit)	29.6%	29.3%	(28.8)%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and deferred tax liabilities at March 1, 2014 and March 2, 2013 are as follows:

	2014						2013
(In thousands)	Current			Noncurrent			Current			Noncurrent
Accounts receivable	$	900		$	—		$	762		$	—
Accrued insurance	113			574			193			614
Other accruals	2,680			792			2,581			979
Deferred compensation	(1		)	9,323			37			8,481
Goodwill and other intangibles	23			(8,624		)	—			(4,710		)
Inventory	1,535			—			1,166			—
Depreciation	(853		)	(14,413		)	—			(15,912		)
Liability for unrecognized tax benefits	—			2,781			—			3,415
Prepaid expenses	(634		)	595			(494		)	534
Net operating losses	—			3,566			—			3,433
Valuation allowance on net operating losses	(459		)	(2,312		)	(2,117		)	(567		)
Other	225			315			90			253
Deferred tax assets (liabilities)	$	3,529		$	(7,403	)	$	2,218		$	(3,480	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:

(In thousands)	2014			2013			2012
Gross unrecognized tax benefits at beginning of year	$	5,516		$	7,125		$	10,676
Gross increases in tax positions for prior years	44			236			136
Gross decreases in tax positions for prior years	(616		)	(1,480		)	(462		)
Gross increases based on tax positions related to the current year	326			621			623
Gross decreases based on tax positions related to the current year	(40		)	(56		)	(78		)
Settlements	(84		)	(682		)	(1,200		)
Statute of limitations expiration	(809		)	(248		)	(2,570		)
Unrecognized tax benefits acquired in connection with Alumicor	94			—			—
Gross unrecognized tax benefits at end of year	$	4,431		$	5,516		$	7,125