Shareholders' Equity

12 Months Ended

Mar. 01, 2025

Equity [Abstract]

Stockholders' Equity

Shareholders' Equity

We paid dividends totaling $21.7 million ($1.01 per share) in fiscal 2025, $21.1 million ($0.97 per share) in fiscal 2024 and $19.7 million ($0.90 per share) in fiscal 2023.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program, with subsequent increases in authorization. We repurchased 786,690 shares under the program during fiscal 2025, for a total cost of $45.4 million. We repurchased 279,916 shares under the program, for a total cost of $11.8 million, in fiscal 2024, and repurchased 1,571,139 shares under the program, for a total cost of $74.3 million, in fiscal 2023. We have repurchased a total of 12,063,207 shares, at a total cost of $438.5 million, since the inception of this program. On October 6, 2023, the Board of Directors increased the share repurchase authorization by 2 million shares. We have remaining authority to repurchase 2,186,793 shares under this program, which has no expiration date.

In addition to the shares repurchased under this repurchase plan, during fiscal 2025, 2024 and 2023, the Company also withheld $6.1 million, $2.5 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 March 1, 2025 and March 2, 2024:

(In thousands)	2025		2024
Net unrealized loss on marketable securities	$	(149)	$	(328)
Net unrealized gain on derivative instruments	—		440
Pension liability adjustments	(2,106)		(2,187)
Foreign currency translation adjustments	(33,037)		(27,456)
Total accumulated other comprehensive loss	$	(35,292)	$	(29,531)