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Income Taxes Income Tax Reconciliation (Details) - USD ($)
$ in Millions
12 Months Ended
Feb. 25, 2022
Feb. 26, 2021
Feb. 28, 2020
U.S. federal statutory tax rate 21.00%    
Tax expense at the U.S. federal statutory rate $ 0.3 $ 5.4 $ 51.5
Valuation allowance provisions and adjustments [1] (2.7) 0.4 (1.3)
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount [2] 0.0 3.4 0.0
COLI income [3] (1.3) (2.7) (1.4)
Effective Income Tax Rate Reconciliation, Tax Settlement, Foreign, Amount [4] 3.1 5.4 4.9
State and local income taxes, net of federal (0.2) 0.6 6.4
Foreign operations, less applicable foreign tax credits [5] (0.3) 0.4 (1.2)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount 1.3 1.9 1.1
Research tax credit (2.4) (3.0) (2.9)
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount (0.7) (0.3) (0.2)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Payment Arrangement, Amount 0.3 0.1 (0.4)
Other 0.2 (0.1) 0.6
Income tax expense (2.4) (0.2) 45.5
Effective Income Tax Reconciliation, CARES [6] 0.0 (11.7) 0.0
Effective Income Tax Rate Reconciliation, Disposition of Business, Amount [7] $ 0.0 $ 0.0 $ (11.6)
[1] The valuation allowance provisions and adjustments are based on current year activity, which are further detailed below.
[2] We recorded a goodwill impairment charge related to our Orangebox U.K. reporting unit which is non-deductible for tax purposes.
[3] The increase in the cash surrender value of COLI policies, net of normal insurance expenses, plus maturity benefits are non-taxable.
[4] 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.
[5] 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.
[6] 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%.
[7] 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.