Shareholders' Equity

12 Months Ended

Feb. 26, 2022

Equity [Abstract]

Stockholders' Equity

Shareholders' Equity

A class of 200,000 shares of junior preferred stock with a par value of $1.00 is authorized, but unissued.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program, with subsequent increases in authorization. We repurchased 2,292,846 shares under the program during fiscal 2022, for a total cost of $100.0 million. We repurchased 1,177,704 shares under the program, for a total cost of $32.9 million, in fiscal 2021, and 686,997 shares under the program, for a total cost of $25.1 million, in fiscal 2020. The Company has repurchased a total of 9,425,462 shares, at a total cost of $307.3

million, since the inception of this program. We have remaining authority to repurchase 1,824,538 shares under this program, which has no expiration date.

In addition to the shares repurchased under this repurchase plan, during fiscal 2022, 2021 and 2020, the Company also withheld $2.1 million, $3.0 million and $2.3 million, respectively, of Company stock from employees in order to satisfy stock-for-stock option exercises or tax obligations related to stock-based compensation, pursuant to terms of board and shareholder-approved compensation plans.

Accumulated Other Comprehensive Loss

The following summarizes the accumulated other comprehensive loss, net of tax, at February 26, 2022 and February 27, 2021:

(In thousands)	2022		2021
Net unrealized (loss) gain on marketable securities	$	(58)	$	302
Foreign currency hedge	2,717		643
Pension liability adjustments	(3,770)		(4,152)
Foreign currency translation adjustments	(25,129)		(24,820)
Total accumulated other comprehensive loss	$	(26,240)	$	(28,027)