Leases

12 Months Ended

Feb. 25, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments And Guarantees

We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment that expire at various dates through 2035. Certain lease agreements include contingent rental payments based on per unit usage over contractual levels (e.g., miles driven or machine hours used) and others include rental payments adjusted periodically for inflationary indexes. Additionally, some leases include options to renew or terminate the leases which can be exercised at our discretion.

The components of lease expense are as follows:

	Year Ended
	February 25, 2022		February 26, 2021
Operating lease cost	$	53.2	$	51.8
Sublease rental income	(2.0)		(2.4)
	$	51.2	$	49.4

Supplemental cash flow and other information related to leases are as follows:

	Year Ended
	February 25, 2022			February 26, 2021
Cash flow information:
Operating cash flows used for operating leases	$	54.1		$	50.4
Leased assets obtained in exchange for new operating lease obligations	$	33.1		$	21.8
Other information:
Weighted-average remaining term	5.9 years			6.6 years
Weighted-average discount rate	3.5		%	3.8		%

The following table summarizes the future minimum lease payments as of February 25, 2022:

Fiscal year ending in February	Amount (1)
2023	$	51.6
2024	45.5
2025	43.6
2026	32.8
2027	26.1
Thereafter	52.1
Total lease payments	$	251.7
Less interest	25.3
Present value of lease liabilities	$	226.4

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(1)Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced.