Income Taxes (Tables)

12 Months Ended

Mar. 04, 2017

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Earnings before income taxes consisted of the following:

(In thousands)	2017			2016			2015
U.S.	$	123,229		$	100,859		$	59,898
International	(424		)	(3,535		)	5,101
Earnings before income taxes	$	122,805		$	97,324		$	64,999

Schedule of Components of Income Tax Expense (Benefit)

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

(In thousands)	2017			2016			2015
Current
Federal	$	35,610		$	35,888		$	7,328
State and local	2,929			2,866			1,198
International	(147		)	(636		)	1,790
Total current	38,392			38,118			10,316
Deferred
Federal	(945		)	(5,403		)	4,738
State and local	(78		)	(512		)	(363		)
International	(42		)	(224		)	(101		)
Total deferred	(1,065		)	(6,139		)	4,274
Total non-current tax (benefit) expense	(312		)	3			(107		)
Total income tax expense	$	37,015		$	31,982		$	14,483

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation of the statutory federal income tax rate to our consolidated effective tax rates:

	2017		2016		2015
Federal income tax expense at statutory rate	35.0	%	35.0	%	35.0	%
Manufacturing deduction	(3.3	)	(3.4	)	(2.3	)
State and local income taxes, net of federal tax benefit	1.6		1.6		1.2
Foreign tax rate differential	(1.6	)	—		—
Tax credits - research & development	(0.7	)	(0.8	)	(1.1	)
Tax credits - 48C	—		—		(9.9	)
Other, net	(0.9	)	0.5		(0.6	)
Income tax expense	30.1	%	32.9	%	22.3	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and deferred tax liabilities at March 4, 2017 and February 27, 2016 were:

	2017			2016
(In thousands)	Noncurrent			Current			Noncurrent
Accounts receivable	$	408		$	825		$	—
Other accruals	4,254			2,968			1,281
Deferred compensation	15,189			554			12,594
Goodwill and other intangibles	(7,601		)	18			(7,615		)
Depreciation	(18,714		)	—			(17,354		)
Liability for unrecognized tax benefits	2,623			—			2,797
Net operating losses	5,790			—			2,945
Valuation allowance on net operating losses	(2,352		)	(2,194		)	(306		)
Other	403			(351		)	686
Deferred tax (liabilities) assets	$	—		$	1,820		$	(4,972	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table provides a reconciliation of the total amounts of gross unrecognized tax benefits:

(In thousands)	2017			2016			2015
Gross unrecognized tax benefits at beginning of year	$	4,512		$	4,491		$	4,431
Gross increases in tax positions for prior years	54			60			261
Gross decreases in tax positions for prior years	(233		)	(158		)	(276		)
Gross increases based on tax positions related to the current year	508			526			508
Gross decreases based on tax positions related to the current year	—			(33		)	(21		)
Settlements	(23		)	—			(93		)
Statute of limitations expiration	(743		)	(374		)	(319		)
Gross unrecognized tax benefits at end of year	$	4,075		$	4,512		$	4,491