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Employee Benefit Plans (Tables)
12 Months Ended
Mar. 02, 2019
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following tables present reconciliations of the benefit obligation of the defined-benefit pension plans and the funded status of the defined-benefit pension plans. The Tubelite plan uses a measurement date as of the calendar month-end closest to our fiscal year-end, while the SERP uses a measurement date aligned with our fiscal year-end.
(In thousands)
 
2019
 
2018
Change in projected benefit obligation
 
 
 
 
Benefit obligation beginning of period
 
$
13,834

 
$
14,492

Interest cost
 
506

 
531

Actuarial (gain)
 
(19
)
 
(175
)
Benefits paid
 
(1,011
)
 
(1,014
)
Benefit obligation at measurement date
 
13,310

 
13,834

Change in plan assets
 
 
 
 
Fair value of plan assets beginning of period
 
$
4,169

 
$
4,185

Actual return on plan assets
 
97

 
10

Company contributions
 
2,075

 
988

Benefits paid
 
(1,011
)
 
(1,014
)
Fair value of plan assets at measurement date
 
5,330

 
4,169

Underfunded status
 
$
(7,980
)
 
$
(9,665
)
Schedule of Amounts Recognized in Balance Sheet
The funded status was recognized in the consolidated balance sheets as follows, as one of our plans was in an overfunded position:
(In thousands)
 
2019
 
2018
Other non-current assets
 
$
337

 
$

Current liabilities
 
(684
)
 
(668
)
Other non-current liabilities
 
(7,633
)
 
(8,997
)
Total
 
$
(7,980
)
 
$
(9,665
)
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized as Components of Net Periodic Benefit Cost
The following was included in accumulated other comprehensive loss and has not yet been recognized as a component of net periodic benefit cost:
(In thousands)
 
2019
 
2018
Net actuarial loss
 
$
5,025

 
$
5,325

Schedule of Amounts Recognized in Comprehensive Earnings
The amount recognized in comprehensive earnings, net of tax expense, was:
(In thousands)
 
2019
 
2018
Net actuarial gain
 
$
229

 
$
284

Schedule of Net Benefit Costs
Components of the defined-benefit pension plans' net periodic benefit cost:
(In thousands)
 
2019
 
2018
 
2017
Interest cost
 
$
506

 
$
531

 
$
555

Expected return on assets
 
(40
)
 
(41
)
 
(41
)
Amortization of unrecognized net loss
 
226

 
228

 
225

Net periodic benefit cost
 
$
692

 
$
718

 
$
739

Schedule of Assumptions Used
Benefit Obligation Weighted-Average Assumptions
 
2019
 
2018
 
2017
Discount rate
 
3.80
%
 
3.80
%
 
3.80
%
Net Periodic Benefit Expense Weighted-Average Assumptions
 
2019
 
2018
 
2017
Discount rate
 
3.85
%
 
3.80
%
 
3.85
%
Expected long-term rate of return on assets
 
4.50
%
 
2.00
%
 
2.00
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid by the plans:
(In thousands)
 
2020
 
2021
 
2022
 
2023
 
2024
 
2025-2029
Estimated future benefit payments
 
$
1,054

 
$
1,035

 
$
1,008

 
$
977

 
$
946

 
$
4,405