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Retirement Plans (Tables)
12 Months Ended
Mar. 02, 2013
Retirement Plans  
Schedule of net periodic pension expense and other changes recognized in other comprehensive income for the defined benefit pension plans and the nonqualified executive retirement plan

 

 

 
  Defined Benefit Pension Plan   Nonqualified Executive
Retirement Plan
 
 
  2013   2012   2011   2013   2012   2011  

Service cost

  $ 2,908   $ 2,988   $ 2,972   $   $ 21   $ 72  

Interest cost

    6,128     6,501     6,124     616     771     847  

Expected return on plan assets

    (6,719 )   (6,192 )   (4,819 )            

Amortization of unrecognized prior service cost

    240     639     861              

Amortization of unrecognized net loss (gain)

    3,926     2,435     2,114     866     (582 )   (926 )
                           

Net pension expense(income)

  $ 6,483   $ 6,371   $ 7,252   $ 1,482   $ 210   $ (7 )

Other changes recognized in other comprehensive loss:

                                     

Unrecognized net (gain) loss arising during period

  $ 12,901   $ 24,664   $ 279   $ 866   $ 595   $ 593  

Prior service cost arising during period

        (275 )                

Amortization of unrecognized prior service costs

    (240 )   (639 )   (861 )            

Amortization of unrecognized net (loss) gain

    (3,926 )   (2,435 )   (2,114 )   (866 )   582     925  
                           

Net amount recognized in other comprehensive loss

    8,735     21,315     (2,696 )       1,177     1,518  
                           

Net amount recognized in pension expense and other comprehensive loss

  $ 15,218   $ 27,686   $ 4,556   $ 1,482   $ 1,387   $ 1,511  
                           
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
 
 
  2013   2012   2013   2012  

Change in benefit obligations:

                         

Benefit obligation at end of prior year

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

Service cost

    2,908     2,988         21  

Interest cost

    6,128     6,501     616     771  

Distributions

    (6,644 )   (6,957 )   (1,659 )   (1,700 )

Change due to change in assumptions

    13,979     23,574     756     823  

Change due to Plan amendments

        (275 )        

Actuarial (gain) loss

    (159 )   980     110     (228 )
                   

Benefit obligation at end of year

  $ 158,522   $ 142,310   $ 14,332   $ 14,509  
                   

Change in plan assets:

                         

Fair value of plan assets at beginning of year

  $ 108,196   $ 94,195   $   $  

Employer contributions

    5,583     14,878     1,659     1,700  

Actual return on plan assets

    9,067     7,507          

Distributions (including expenses paid by the plan)

    (8,073 )   (8,384 )   (1,659 )   (1,700 )
                   

Fair value of plan assets at end of year

  $ 114,773   $ 108,196   $   $  
                   

Funded status

  $ (43,749 ) $ (34,114 ) $ (14,331 ) $ (14,509 )
                   

Net amount recognized

  $ (43,749 ) $ (34,114 ) $ (14,331 ) $ (14,509 )
                   

Amounts recognized in consolidated balance sheets consisted of:

                         

Prepaid pension cost

  $   $   $   $  

Accrued pension liability

    (43,749 )   (34,114 )   (14,331 )   (14,509 )
                   

Net amount recognized

  $ (43,749 ) $ (34,114 ) $ (14,331 ) $ (14,509 )

Amounts recognized in accumulated other comprehensive loss consist of:

                         

Net actuarial loss

  $ (59,143 ) $ (50,168 ) $   $  

Prior service cost

    (547 )   (787 )        
                   

Amount recognized

  $ (59,690 ) $ (50,955 ) $   $  
                   
Schedule of significant actuarial assumptions used for all defined benefit plans to determine benefit obligation

 

 

 
  Defined Benefit
Pension Plan
  Nonqualified Executive
Retirement Plan
 
 
  2013   2012   2011   2013   2012   2011  

Discount rate

    4.00 %   4.50 %   5.50 %   4.00 %   4.50 %   5.50 %

Rate of increase in future compensation levels

    4.50 %   5.00 %   5.00 %   N/A %   3.00 %   3.00 %
Schedule of weighted average assumptions used to determine net benefit cost

 

 

 
  Defined Benefit
Pension Plan
  Nonqualified Executive
Retirement Plan
 
 
  2013   2012   2011   2013   2012   2011  

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 %   N/A     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 2,
2013
  March 3,
2012
 

Equity securities

    60 %   60 %

Fixed income securities

    40 %   40 %
           

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 2, 2013  
 
  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

  $   $ 17,199   $   $ 17,199  

Large Cap

        35,098         35,098  

Mid Cap

        12,562         12,562  

Small Cap

        4,236         4,236  

Fixed Income

                         

Long Term Credit Bond Index

        45,664         45,664  

Other types of investments

                         

Short Term Investments

        14         14  
                   

Total

  $   $ 114,773   $   $ 114,773  
                   

 

 
  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  
                   
Schedule of future benefit payments expected to be paid

 

 

Fiscal Year
  Defined Benefit
Pension Plan
  Nonqualified
Executive
Retirement Plan
 

2014

  $ 6,764   $ 1,654  

2015

    6,943     1,597  

2016

    7,128     1,539  

2017

    7,351     1,344  

2018

    7,565     1,150  

2019 - 2023

    41,146     4,377  
           

Total

  $ 76,897   $ 11,661