Property, Plant And Equipment

12 Months Ended

Feb. 28, 2014

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

PROPERTY, PLANT AND EQUIPMENT

Property, Plant and Equipment	Estimated Useful Lives (Years)	February 28, 2014			February 22, 2013
Land		$	41.3		$	38.6
Buildings and improvements	10 – 40	490.7			526.3
Machinery and equipment	3 – 15	709.2			715.4
Furniture and fixtures	5 – 8	55.9			68.0
Leasehold improvements	3 – 10	52.6			53.0
Capitalized software	3 – 10	128.7			139.0
Construction in progress		39.4			34.3
		1,517.8			1,574.6
Accumulated depreciation		(1,140.8		)	(1,221.4		)
		$	377.0		$	353.2

A majority of the net book value of property, plant and equipment as of February 28, 2014 relates to machinery and equipment of $152.7 and buildings and improvements of $103.2. A majority of the net book value of property, plant and equipment as of February 22, 2013 relates to machinery and equipment of $126.6 and building and improvements of $118.1. Depreciation expense on property, plant and equipment was $56.3 for 2014, $53.6 for 2013 and $52.7 for 2012. The estimated cost to complete construction in progress was $34.4 and $22.2 as of February 28, 2014 and February 22, 2013, respectively. There were no interest costs capitalized in construction in progress in 2014 or 2013, and there was $0.8 capitalized in 2012.

In 2013, we recognized a $12.4 impairment charge in conjunction with the previously announced closure of our Corporate Development Center. The decline in market value of the facility and the completion of employee relocations out of the facility led to the charge in 2013. This charge was included in Restructuring costs in the Consolidated Statements of Income. See Note 20 for further details.

Included in Other current assets on the Consolidated Balance Sheets as of February 28, 2014 is $5.3 of buildings and improvements that is classified as assets “held for sale”.