Income Taxes (Tables)

12 Months Ended

Feb. 25, 2022

Income Tax Disclosure [Abstract]

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:

Unrecognized Tax Benefits	Year Ended
	February 25, 2022		February 26, 2021		February 28, 2020
Balance as of beginning of period	$	2.3	$	2.0	$	2.0
Gross decreases—tax positions in prior period	—		—		—
Currency translation adjustment	(0.2)		0.3		—
Balance as of end of period	$	2.1	$	2.3	$	2.0

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes on income before income tax expense (benefit) consists of:

Provision for Income Tax Expense (Benefit)	Year Ended
	February 25, 2022		February 26, 2021		February 28, 2020
Current income tax expense (benefit):
Federal	$	—	$	(30.4)	$	6.8
State and local	1.0		1.9		10.9
Foreign	10.0		12.9		15.4
	11.0		(15.6)		33.1
Deferred income tax expense (benefit):
Federal	(14.0)		13.7		10.3
State and local	(1.3)		(1.1)		(2.8)
Foreign	1.9		2.8		4.9
	(13.4)		15.4		12.4
Income tax expense (benefit)	$	(2.4)	$	(0.2)	$	45.5

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income taxes were based on the following sources of income (loss) before income tax expense (benefit):

Source of Income (Loss) Before Income Tax Expense (Benefit)	Year Ended
	February 25, 2022		February 26, 2021		February 28, 2020
Domestic	$	(38.0)	$	(10.1)	$	195.8
Foreign	39.6		36.0		49.4
	$	1.6	$	25.9	$	245.2

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The total income tax expense (benefit) recognized is reconciled to that computed by applying the U.S. federal statutory tax rate of 21.0%, as follows:

Income Tax Provision Reconciliation	Year Ended
	February 25, 2022		February 26, 2021		February 28, 2020
Tax expense at the U.S. federal statutory rate	$	0.3	$	5.4	$	51.5
State and local income taxes, net of federal tax effect	(0.2)		0.6		6.4
Impact of the CARES Act (1)	—		(11.7)		—
Sale of PolyVision (2)	—		—		(11.6)
Valuation allowance provisions and adjustments (3)	(2.7)		0.4		(1.3)
Goodwill impairment charge (4)	—		3.4		—
COLI income (5)	(1.3)		(2.7)		(1.4)
Foreign operations, less applicable foreign tax credits (6)	3.1		5.4		4.9
Impact of change to non-U.S. federal statutory tax rates (7)	(0.3)		0.4		(1.2)
Officer compensation limitation	1.3		1.9		1.1
Research tax credit	(2.4)		(3.0)		(2.9)
Other U.S. domestic tax credits	(0.7)		(0.3)		(0.2)
Stock compensation	0.3		0.1		(0.4)
Other	0.2		(0.1)		0.6
Total income tax expense (benefit) recognized	$	(2.4)	$	(0.2)	$	45.5

________________________

(1)In Q1 2021, the U.S. government enacted the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"), which enabled companies to carry back tax losses to years prior to the enactment of the Tax Cuts and Jobs Act when the federal statutory income tax rate was 35%.

(2)The tax basis of PolyVision exceeded the book equity of the entity. For U.S. federal tax purposes, this generated a capital loss and related benefit, which varied from the expected U.S. federal tax expense on the financial statement gain on disposal.

(3)The valuation allowance provisions and adjustments are based on current year activity, which are further detailed below.

(4)We recorded a goodwill impairment charge related to our Orangebox U.K. reporting unit which is non-deductible for tax purposes.

(5)The increase in the cash surrender value of COLI policies, net of normal insurance expenses, plus maturity benefits are non-taxable.

(6)The foreign operations, less applicable foreign tax credits, amounts include the rate differential between local statutory rates and the U.S. rate on foreign operations.

(7)Changes to the statutory tax rates, primarily in the U.K. and France, resulted in the revaluation of certain deferred tax assets in those jurisdictions.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of deferred income taxes are as follows:

Deferred Income Taxes	February 25, 2022		February 26, 2021
Deferred income tax assets:
Employee benefit plan obligations and deferred compensation	$	51.6	$	57.6
Operating lease obligations	58.4		62.7
Foreign and domestic net operating loss carryforwards	40.2		45.2
Reserves and accruals	16.1		15.1
Tax credit carryforwards	26.2		22.0
Other, net	14.7		15.0
Total deferred income tax assets	207.2		217.6
Valuation allowances	(3.7)		(6.6)
Net deferred income tax assets	203.5		211.0
Deferred income tax liabilities:
Right-of-use operating lease assets	54.1		57.4
Property, plant and equipment	26.5		32.3
Intangible assets	11.7		13.0
Prepaid expenses	—		2.0
Total deferred income tax liabilities	92.3		104.7
Net deferred income taxes	$	111.2	$	106.3
Net deferred income taxes is comprised of the following components:
Deferred income tax assets—non-current	121.2		113.3
Deferred income tax liabilities—non-current	10.0		7.0

Schedule of Current Taxes Payable or Refundable [Table Text Block]

Income taxes currently payable or receivable are reported on the Consolidated Balance Sheets as follows:

Income Taxes	February 25, 2022		February 26, 2021
Other current assets:
Income taxes receivable	$	41.7	$	49.5
Accrued expenses:
Income taxes payable	$	7.6	$	7.4

Summary of Operating Loss Carryforwards [Table Text Block]

Operating loss and tax credit carryforwards expire as follows:

Fiscal Year Ending February	Net Operating Loss Carryforwards (Gross)						Net Operating Loss Carryforwards (Tax Effected)								Tax Credit Carryforwards
	Federal		State		International		Federal		State		International		Total
2023	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2024-2042	0.8		64.8		3.1		0.2		4.5		0.8		5.5		26.2
No expiration	—		9.8		141.0		—		0.5		35.2		35.7		—
	$	0.8	$	74.6	$	144.1	0.2		5.0		36.0		41.2		26.2
Valuation allowances							—		—		(2.4)		(2.4)		—
Net benefit							$	0.2	$	5.0	$	33.6	$	38.8	$	26.2