XML 255 R51.htm IDEA: XBRL DOCUMENT v3.22.1
Compensation Related Costs, Share Based Payments (Tables)
12 Months Ended
Feb. 25, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Share Based Payment Award Outstanding Awards [Table Text Block]
Share-based awards currently outstanding under the Incentive Compensation Plan are as follows:
Total Outstanding AwardsFebruary 25,
2022
Performance units (1)1,205,833 
Restricted stock units3,445,438 
Total outstanding awards4,651,271 
________________________
(1)This amount includes the maximum number of shares that may be issued under outstanding performance unit awards; however, the actual number of shares which may be issued will be determined based on the satisfaction of certain conditions, and therefore may be significantly lower.
Schedule Of Share Based Payment Award Performance Units Valuation Assumptions [Table Text Block] The Monte Carlo simulation was computed using the following assumptions:
FY22 AwardFY21 AwardFY20 Award
Tranche 1Tranche 2Tranche 1Tranche 3Tranche 2Tranche 1
Risk-free interest rate (1)0.3 %0.2 %0.2 %0.1 %0.1 %2.3 %
Expected term3 years2 years2 years1 year1 year3 years
Estimated volatility (2)53.5 %61.3 %58.1 %56.1 %74.1 %32.5 %
________________________
(1)Based on the U.S. Government bond benchmark on the grant date.
(2)Represents the historical price volatility of our Company’s Class A Common Stock for the three-year period preceding the grant date.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]
The Monte Carlo simulation resulted in the following weighted-average grant date fair values per PSU with market conditions:
Grant Date Fair Value per PSUYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
Weighted-average grant date fair value per share of PSUs granted under Monte Carlo$14.38 $13.29 $16.21 
The weighted-average grant date fair value per share of RSUs granted in 2022, 2021 and 2020 is as follows:
Grant Date Fair Value per ShareYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
Weighted-average grant date fair value per share of RSUs granted$13.08 $9.49 $15.84 
Share-based Payment Arrangement, Cost by Plan [Table Text Block]
The total PSU expense and associated tax benefit recorded in 2022, 2021 and 2020 are as follows:
Performance UnitsYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
Expense$1.6 $7.7 $2.7 
Tax benefit0.4 2.0 0.7 
2022, 2021 and 2020 are as follows:
Restricted Stock UnitsYear Ended
February 25,
2022
February 26,
2021
February 28,
2020
Expense$13.7 $12.4 $13.3 
Tax benefit3.5 3.1 3.6 
Schedule Of Share Based Compensation Performance Units Award Activity [Table Text Block]
The 2022 PSU activity is as follows:
Maximum Number of Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value per Unit
Nonvested as of February 26, 2021898,156 $14.06 
Granted1,019,517 14.38 
Vested(711,840)14.26 
Nonvested as of February 25, 20221,205,833 $14.21 
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] The 2022 RSU activity is as follows:
Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value
per Share
Nonvested as of February 26, 20212,285,965 $12.11 
Granted2,064,722 13.08 
Vested(811,242)15.54 
Forfeited(94,007)12.81 
Nonvested as of February 25, 20223,445,438 $11.86