Retirement Plans (Tables)

12 Months Ended

Mar. 02, 2019

Retirement Plans

Summary of net periodic pension expense for the defined benefit plans

	Defined Benefit Pension Plan
	2019		2018		2017
Service cost	$	597	$	1,212	$	1,291
Interest cost		6,159		6,340		6,634
Expected return on plan assets		(5,673)		(4,525)		(4,512)
Amortization of unrecognized prior service cost		—		—		—
Amortization of unrecognized net loss (gain)		1,769		3,393		5,085
Net pension expense	$	2,852	$	6,420	$	8,498
Other changes recognized in other comprehensive loss:
Unrecognized net (gain) loss arising during period	$	(3,486)	$	(8,704)	$	(3,979)
Prior service cost arising during period		—		—		—
Amortization of unrecognized prior service costs		—		—		—
Amortization of unrecognized net (loss) gain		(1,769)		(3,393)		(5,085)
Net amount recognized in other comprehensive loss		(5,255)		(12,097)		(9,064)
Net amount recognized in pension expense and other comprehensive loss	$	(2,403)	$	(5,677)	$	(566)

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
	2019		2018
Change in benefit obligations:
Benefit obligation at end of prior year	$	161,851	$	164,349
Service cost		597		1,212
Interest cost		6,159		6,340
Distributions		(8,816)		(7,963)
Change due to change in assumptions		—		—
Actuarial loss (gain)		(9,086)		(2,087)
Benefit obligation at end of year	$	150,705	$	161,851
Change in plan assets:
Fair value of plan assets at beginning of year	$	130,860	$	118,658
Employer contributions		2,715		9,023
Actual return on plan assets		72		11,142
Distributions (including expenses paid by the plan)		(8,815)		(7,963)
Fair value of plan assets at end of year	$	124,832	$	130,860
Funded status	$	(25,873)	$	(30,991)
Net amount recognized	$	(25,873)	$	(30,991)
Amounts recognized in consolidated balance sheets consisted of:
Prepaid pension cost	$	—	$	—
Accrued pension liability		(25,873)		(30,991)
Net amount recognized	$	(25,873)	$	(30,991)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	(27,409)	$	(32,664)
Prior service cost		—		—
Amount recognized	$	(27,409)	$	(32,664)

Schedule of significant actuarial assumptions used for all defined benefit plans to determine benefit obligation

	Defined Benefit
	Pension Plan
	2019		2018		2017
Discount rate	4.25	%	4.00	%	4.00	%
Rate of increase in future compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.25	%	6.25	%	6.50	%

Schedule of weighted average assumptions used to determine net benefit cost

	Defined Benefit
	Pension Plan
	2019		2018		2017
Discount rate	4.00	%	4.00	%	4.25	%
Rate of increase in future compensation levels	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.25	%	6.50	%	6.50	%

Schedule of pension plan asset allocations by asset category

	March 2,		March 3,
	2019		2018
Equity securities	52	%	53	%
Fixed income securities	48	%	47	%
Total	100	%	100	%

Schedule of target allocation of plan assets

	Target
Category	Allocation
U.S. equities	39	%
International equities	13	%
U.S. fixed income	48	%
Total	100	%

Summary of the plan's investments measured at fair value on a recurring basis

	Fair Value Measurements at March 2, 2019
	Quoted Prices in
	Active Markets		Significant		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Equity Securities
International equity	$	—	$	—	$	—	$	15,396
Large Cap		—		—		—		34,058
Small-Mid Cap		—		—		—		14,534
Fixed Income
Long Term Credit Bond Index		—		—		—		44,103
Long Term US Government Bonds		—		—		—		8,383
20+ Year Treasury STRIPS		—		—		—		847
Intermediate Fixed Income		—		—		—		5,920
Other types of investments
Short Term Investments		—		—		—		1,591
Total	$	—	$	—	$	—	$	124,832

	Fair Value Measurements at March 3, 2018
	Quoted Prices in
	Active Markets		Significant		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Equity Securities
International equity	$	—	$	—	$	—	$	18,043
Large Cap		—		—		—		35,491
Small-Mid Cap		—		—		—		15,510
Fixed Income
Long Term Credit Bond Index		—		—		—		46,222
Long Term US Government Bonds		—		—		—		8,070
20+ Year Treasury STRIPS		—		—		—		1,168
Intermediate Fixed Income		—		—		—		5,617
Other types of investments
Short Term Investments		—		—		—		739
Total	$	—	$	—	$	—	$	130,860

Schedule of future benefit payments expected to be paid

	Defined Benefit
Fiscal Year	Pension Plan
2020	$	8,690
2021		8,844
2022		8,999
2023		9,005
2024		9,213
2025 - 2029		45,903
Total	$	90,654