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Retirement Plans (Tables)
12 Months Ended
Mar. 03, 2012
Retirement Plans  
Schedule of net periodic pension expense and other changes recognized in other comprehensive income

 

 

 
  Defined Benefit Pension Plan   Nonqualified Executive
Retirement Plan
 
 
  2012   2011   2010   2012   2011   2010  

Service cost

  $ 2,988   $ 2,972   $ 2,603   $ 21   $ 72   $ 54  

Interest cost

    6,501     6,124     6,032     771     847     1,130  

Expected return on plan assets

    (6,192 )   (4,819 )   (2,637 )            

Amortization of unrecognized prior service cost

    639     861     861              

Amortization of unrecognized net loss (gain)

    2,435     2,114     3,037     (582 )   (926 )   651  
                           

Net pension expense(income)

  $ 6,371   $ 7,252   $ 9,896   $ 210   $ (7 ) $ 1,835  

Other changes recognized in other comprehensive loss:

                                     

Unrecognized net (gain) loss arising during period

  $ 24,664   $ 279   $ (4,339 ) $ 595   $ 593   $ (1,572 )

Prior service cost arising during period

    (275 )                    

Amortization of unrecognized prior service costs

    (639 )   (861 )   (860 )            

Amortization of unrecognized net (loss) gain

    (2,435 )   (2,114 )   (3,037 )   582     925     (651 )
                           

Net amount recognized in other comprehensive loss

    21,315     (2,696 )   (8,236 )   1,177     1,518     (2,223 )
                           

Net amount recognized in pension expense and other comprehensive loss

  $ 27,686   $ 4,556   $ 1,660   $ 1,387   $ 1,511   $ (388 )
                           

 

Schedule of reconciliation for both benefit obligation and plan assets of defined benefit plans, as well as funded status and amounts recognized in balance sheet

 

 

 
  Defined Benefit
Pension Plan
  Nonqualified Executive
Retirement Plan
 
 
  2012   2011   2012   2011  

Change in benefit obligations:

                         

Benefit obligation at end of prior year

  $ 115,499   $ 103,876   $ 14,822   $ 14,878  

Service cost

    2,988     2,972     21     72  

Interest cost

    6,501     6,124     771     847  

Distributions

    (6,957 )   (6,353 )   (1,700 )   (1,568 )

Change due to change in assumptions

    23,574     7,357     823     426  

Change due to Plan amendments

    (275 )            

Actuarial (gain) loss

    980     1,523     (228 )   167  
                   

Benefit obligation at end of year

  $ 142,310   $ 115,499   $ 14,509   $ 14,822  
                   

Change in plan assets:

                         

Fair value of plan assets at beginning of year

  $ 94,195   $ 73,676   $   $  

Employer contributions

    14,878     13,451     1,700     1,568  

Actual return on plan assets

    7,507     14,858          

Distributions (including expenses paid by the plan)

    (8,384 )   (7,790 )   (1,700 )   (1,568 )
                   

Fair value of plan assets at end of year

  $ 108,196   $ 94,195   $   $  
                   

Funded status

  $ (34,114 ) $ (21,304 ) $ (14,509 ) $ (14,822 )
                   

Net amount recognized

  $ (34,114 ) $ (21,304 ) $ (14,509 ) $ (14,822 )
                   

Amounts recognized in consolidated balance sheets consisted of:

                         

Prepaid pension cost

  $   $   $   $  

Accrued pension liability

    (34,114 )   (21,304 )   (14,509 )   (14,822 )
                   

Net amount recognized

  $ (34,114 ) $ (21,304 ) $ (14,509 ) $ (14,822 )

Amounts recognized in accumulated other comprehensive loss consist of:

                         

Net actuarial (loss) gain

  $ (50,168 ) $ (28,029 ) $   $ 1,177  

Prior service cost

    (787 )   (1,700 )        
                   

Amount recognized

  $ (50,955 ) $ (29,729 ) $   $ 1,177  
                   
Schedule of significant actuarial assumptions used for all defined benefit plans to determine benefit obligation

 

 

 
  Defined Benefit
Pension Plan
  Nonqualified Executive
Retirement Plan
 
 
  2012   2011   2010   2012   2011   2010  

Discount rate

    4.50 %   5.50 %   6.00 %   4.50 %   5.50 %   6.00 %

Rate of increase in future compensation levels

    5.00 %   5.00 %   5.00 %   3.00 %   3.00 %   3.00 %

 

Schedule of weighted average assumptions used to determine net benefit cost

 

 

 
  Defined Benefit
Pension Plan
  Nonqualified Executive
Retirement Plan
 
 
  2012   2011   2010   2012   2011   2010  

Discount rate

    5.50 %   6.00 %   7.00 %   5.50 %   6.00 %   7.00 %

Rate of increase in future compensation levels

    5.00 %   5.00 %   5.00 %   3.00 %   3.00 %   3.00 %

Expected long-term rate of return on plan assets

    7.75 %   7.75 %   7.75 %   N/A     N/A     N/A  

      

Schedule of pension plan asset allocations by asset category

 

 

 
  March 3,
2012
  February 26,
2011
 

Equity securities

    60 %   58 %

Fixed income securities

    40 %   42 %
           

Total

    100 %   100 %
           

     

Schedule of target allocation of plan assets

 

 

Category
  Target
Allocation
 

U.S. equities

    45 %

International equities

    15 %

U.S. fixed income

    40 %
       

Total

    100 %
       
Schedule of summary of plan's investments measured at fair value on a recurring basis

 

 

 
  Fair Value Measurements at March 3, 2012  
 
  Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
  Significant
Observable
Inputs (Level 2)
  Significant
Unobservable
Inputs (Level 3)
  Total  

Equity Securities

                         

International equity

  $   $ 16,265   $   $ 16,265  

Large Cap

        33,350         33,350  

Mid Cap

        11,765         11,765  

Small Cap

        3,733         3,733  

Fixed Income

                         

Long Term Credit Bond Index

        42,924         42,924  

Other types of investments

                         

Short Term Investments

        159         159  
                   

Total

  $   $ 108,196   $   $ 108,196  
                   


 

 
  Fair Value Measurements at February 26, 2011  
 
  Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
  Significant
Observable
Inputs (Level 2)
  Significant
Unobservable
Inputs (Level 3)
  Total  

Equity Securities

                         

International equity

  $   $ 13,479   $   $ 13,479  

Large Cap

        27,743         27,743  

Mid Cap

        10,191         10,191  

Small Cap

        3,434         3,434  

Fixed Income

                         

Long Term Credit Bond Index

        38,514         38,514  

Other types of investments

                         

Short Term Investments

        834         834  
                   

Total

  $   $ 94,195   $   $ 94,195  
                   

       

Schedule of future benefit payments expected to be paid

 

 

Fiscal Year
  Defined Benefit Pension Plan   Nonqualified Executive Retirement Plan  

2013

  $ 6,273   $ 1,662  

2014

    6,440     1,641  

2015

    6,650     1,581  

2016

    6,849     1,520  

2017

    7,084     1,321  

2018 - 2022

    40,149     4,683  
           

Total

  $ 73,445   $ 12,408