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Employee Benefit Plan Obligations Employee Benefit Plan Obligation (Tables)
12 Months Ended
Feb. 25, 2022
Defined Benefit Plan Disclosure [Line Items]  
Employee Benefit Plan Obligation Summary [Table Text Block]
Employee Benefit Plan Obligations (net)February 25,
2022
February 26,
2021
Defined contribution retirement plans$9.1 $12.1 
Post-retirement medical benefits34.1 42.7 
Defined benefit pension plans48.5 62.5 
Deferred compensation plans and agreements56.9 60.5 
$148.6 $177.8 
Employee benefit plan assets
Long-term asset$3.5 $— 
$3.5 $— 
Employee benefit plan obligations
Current portion$25.4 $24.9 
Long-term portion126.7 152.9 
$152.1 $177.8 
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] The funded status of our defined benefit pension plans (excluding our investments in COLI policies) is as follows:
Defined Benefit Pension
Plan Obligations
February 25, 2022February 26, 2021
Qualified PlansNon-qualified
Supplemental
Retirement Plans
Qualified PlansNon-qualified
Supplemental
Retirement Plans
ForeignForeign
Plan assets$35.2 $— $33.2 $— 
Projected benefit plan obligations44.9 28.8 53.7 32.2 
Funded status$(9.7)$(28.8)$(20.5)$(32.2)
Long-term asset3.5 — — — 
Current liability(0.8)(3.9)(0.3)(3.0)
Long-term liability(12.4)(24.9)(20.2)(29.2)
Total benefit plan obligations$(9.7)$(28.8)$(20.5)$(32.2)
Accumulated benefit obligation$41.4 $28.8 $48.5 $32.1 
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following tables summarize our defined benefit pension and post-retirement plans:
Defined Benefit
Pension Plans
Post-Retirement
Plans
February 25,
2022
February 26,
2021
February 25,
2022
February 26,
2021
Change in plan assets:
Fair value of plan assets, beginning of year$33.2 $31.3 $— $— 
Actual return on plan assets3.7 (0.3)— — 
Employer contributions4.7 4.1 4.3 3.5 
Plan participants’ contributions— — 2.2 2.3 
Currency changes(1.7)2.9 — — 
Benefits paid(4.7)(4.8)(6.5)(5.8)
Fair value of plan assets, end of year35.2 33.2 — — 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Change in benefit obligations:
Benefit plan obligations, beginning of year85.9 82.5 42.7 44.3 
Service cost1.4 1.9 0.1 0.1 
Interest cost1.3 1.3 1.0 1.1 
Amendments— 0.1 — — 
Net actuarial (gain) loss (1)(7.2)— (5.4)0.5 
Plan participants’ contributions— — 2.2 2.3 
Currency changes(3.0)4.9 — 0.2 
Benefits paid(4.7)(4.8)(6.5)(5.8)
Benefit plan obligations, end of year73.7 85.9 34.1 42.7 
Funded status$(38.5)$(52.7)$(34.1)$(42.7)
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized on the Consolidated Balance Sheets:
Long-term asset3.5 — — — 
Current liability(4.7)(3.3)(3.0)(3.6)
Long-term liability(37.3)(49.4)(31.1)(39.1)
Net amount recognized$(38.5)$(52.7)$(34.1)$(42.7)
Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]
Amounts recognized in accumulated other comprehensive income (loss) —pretax:
Actuarial loss (gain)$10.6 $21.9 $(15.1)$(11.1)
Prior service cost0.9 0.9 — — 
Total amounts recognized in accumulated other comprehensive income (loss) —pretax$11.5 $22.8 $(15.1)$(11.1)
Schedule of Net Benefit Costs [Table Text Block]
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
February 25,
2022
February 26,
2021
February 28,
2020
Components of expense:
Service cost$1.4 $1.9 $1.8 $0.1 $0.1 $0.1 
Interest cost1.3 1.3 2.0 1.0 1.1 1.6 
Amortization of net loss (gain)1.2 1.1 0.4 (1.4)(2.1)(3.3)
Amortization of prior year service credit(0.1)— (0.1)— — — 
Expected return on plan assets(1.2)(0.9)(1.3)— — — 
Net expense (credit) recognized in Consolidated Statements of Income2.6 3.4 2.8 (0.3)(0.9)(1.6)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (pre-tax):
Net actuarial loss (gain)(9.7)1.2 7.9 (5.4)0.5 5.9 
Prior service cost— 0.1 — — — — 
Amortization of gain (loss)(1.2)(1.1)(0.4)1.4 2.1 3.4 
Amortization of prior year service credit0.1 — 0.1 — — — 
Total recognized in other comprehensive income (loss)(10.8)0.2 7.6 (4.0)2.6 9.3 
Total recognized in net periodic benefit cost and other comprehensive income (loss) --
pre-tax
$(8.2)$3.6 $10.4 $(4.3)$1.7 $7.7 
Pension and Other Post-Retirement Liability Adjustments [Table Text Block]
Pension and Other Post-Retirement Accumulated Other Comprehensive Income (Loss) Changes Before Tax
Amount
Tax (Expense)
Benefit
Net of
Tax Amount
Balance as of February 28, 2020$(7.4)$4.3 $(3.1)
Prior service (cost) credit from plan amendment arising during period(0.1)— (0.1)
   Net prior service (cost) credit during period(0.1)— (0.1)
Net actuarial gain (loss) arising during period(1.7)0.3 (1.4)
Amortization of net actuarial (gain) loss included in net periodic pension cost(1.1)0.3 (0.8)
   Net actuarial gain (loss) during period(2.8)0.6 (2.2)
Foreign currency translation adjustments(1.4)0.2 (1.2)
   Current period change(4.3)0.8 (3.5)
Balance as of February 26, 2021$(11.7)$5.1 $(6.6)
Amortization of prior service cost (credit) included in net periodic pension cost(0.1)— (0.1)
   Net prior service (cost) credit during period(0.1)— (0.1)
Net actuarial gain (loss) arising during period15.1 (3.6)11.5 
Amortization of net actuarial (gain) loss included in net periodic pension cost(0.2)0.1 (0.1)
   Net actuarial gain (loss) during period14.9 (3.5)11.4 
Foreign currency translation adjustments0.5 — 0.5 
   Current period change15.3 (3.5)11.8 
Balance as of February 25, 2022$3.6 $1.6 $5.2 
Defined Benefit Plan, Assumptions [Table Text Block]
Weighted-Average
Assumptions
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
February 25,
2022
February 26,
2021
February 28,
2020
Weighted-average assumptions used to determine benefit obligations:
Discount rate2.50 %1.70 %1.70 %3.38 %2.58 %2.58 %
Rate of salary progression2.50 %3.50 %3.50 %
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate1.70 %1.70 %2.70 %2.58 %2.56 %4.06 %
Expected return on plan assets3.70 %3.00 %3.00 %
Rate of salary progression3.50 %3.40 %3.50 %
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
Schedule of Allocation of Plan Assets [Table Text Block]
Asset CategoryFebruary 25, 2022February 26, 2021
Actual
Allocations
Target
Allocations
Actual
Allocations
Target
Allocations
Equity securities— %— %70 %40 %
Debt securities78 50 25 30 
Real estate— — — 
Other (1)22 50 30 
Total100 %100 %100 %100 %
________________________
(1)Primarily represents money market funds.
The fair value of the pension plan assets as of February 25, 2022 and February 26, 2021, by asset category are as follows:
Fair Value of Pension Plan AssetsFebruary 25, 2022
Level 1Level 2Level 3Total
Cash and cash equivalents$1.3 $— $— $1.3 
Equity securities - International— — — — 
Fixed income securities - Bond funds and other securities— 33.7 — 33.7 
Other investments - Property and property funds— 0.2 — 0.2 
$1.3 $33.9 $— $35.2 
Fair Value of Pension Plan AssetsFebruary 26, 2021
Level 1Level 2Level 3Total
Cash and cash equivalents$0.2 $— $— $0.2 
Equity securities - International— 23.5 — 23.5 
Fixed income securities - Bond funds— 8.3 — 8.3 
Other investments - Property and property funds— 1.2 — 1.2 
$0.2 $33.0 $— $33.2 
There were no transfers between Level 1 and Level 2 of the fair value hierarchy for any periods presented.
Schedule of Expected Benefit Payments [Table Text Block] The estimated future benefit payments under our pension and post-retirement plans are as follows:
Fiscal Year Ending in FebruaryPension PlansPost-retirement Plans
2023
$5.6 $3.0 
20245.0 2.8 
20254.8 2.7 
20265.6 2.6 
20274.6 2.5 
2028 - 203219.1 11.4