Income Taxes (Tables)

12 Months Ended

Feb. 27, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Earnings before income taxes consisted of the following:

(In thousands)	2021		2020		2019
United States	$	45,651	$	97,297	$	60,042
International	(23,040)		(17,547)		(1,380)
Earnings before income taxes	$	22,611	$	79,750	$	58,662

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)	2021		2020		2019
Current
Federal	$	11,495	$	8,493	$	22,746
State and local	702		2,064		(4,437)
International	1,642		(2,720)		(459)
Total current	13,839		7,837		17,850
Deferred
Federal	(2,860)		9,513		(12,409)
State and local	538		2,152		6,275
International	(4,138)		(1,202)		628
Total deferred	(6,460)		10,463		(5,506)
Total non-current tax (benefit) expense	(204)		(464)		624
Total income tax expense	$	7,175	$	17,836	$	12,968

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:

	2021		2020		2019
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal tax benefit	1.0		4.0		2.7
Foreign tax rate differential	4.6		(0.3)		0.8
Nondeductible goodwill impairment expense	5.6		—		—
Research & development tax credit	(5.3)		(1.6)		(2.7)
§162(m) Executive Compensation Limitation	3.6		—		—
Other, net	1.2		(0.7)		0.3
Consolidated effective income tax rate	31.7	%	22.4	%	22.1	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and deferred tax liabilities at February 27, 2021 and February 29, 2020 were:

(In thousands)	2021		2020
Deferred tax assets
Accrued expenses	$	6,309	$	15,832
Deferred compensation	9,452		7,934
Employment tax accrual	1,483		—
Goodwill and other intangibles	4,215		—
Liability for unrecognized tax benefits	1,916		1,941
Unearned income	5,778		5,238
Operating lease liabilities	16,039		6,640
Net operating losses and tax credits	9,952		11,093
Other	1,984		1,502
Total deferred tax assets	57,128		50,180
Less: valuation allowance	(7,435)		(8,727)
Deferred tax assets, net of valuation allowance	49,693		41,453

(In thousands)	2021		2020
Deferred tax liabilities
Accrued expenses	1,095		—
Goodwill and other intangibles	3,263		8,166
Depreciation	34,573		32,296
Operating lease, right-of-use assets	15,435		6,666
Other	820		—
Total deferred tax liabilities	55,186		47,128
Net deferred tax liabilities	$	(5,493)	$	(5,675)

Schedule of Unrecognized Tax Benefits Roll Forward

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

(In thousands)	2021		2020		2019
Gross unrecognized tax benefits at beginning of year	$	4,071	$	5,111	$	4,705
Gross increases in tax positions for prior years	106		82		500
Gross decreases in tax positions for prior years	(351)		(1,100)		(377)
Gross increases based on tax positions related to the current year	429		425		1,067
Settlements	(96)		(15)		(303)
Statute of limitations expiration	(404)		(432)		(481)
Gross unrecognized tax benefits at end of year	$	3,755	$	4,071	$	5,111