Fair Value (Tables)

6 Months Ended

Aug. 25, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value within our Condensed Consolidated Balance Sheets as of August 25, 2023 and February 24, 2023 are summarized below:


	August 25, 2023
Fair Value of Financial Instruments	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	153.6	$	—	$	—	$	153.6
Restricted cash	7.0		—		—		7.0







Foreign exchange forward contracts	—		2.1		—		2.1
Auction rate security	—		—		2.1		2.1

	$	160.6	$	2.1	$	2.1	$	164.8
Liabilities:
Foreign exchange forward contracts	$	—	$	(0.5)	$	—	$	(0.5)
Contingent consideration	—		—		(9.8)		(9.8)
	$	—	$	(0.5)	$	(9.8)	$	(10.3)

	February 24, 2023
Fair Value of Financial Instruments	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	90.4	$	—	$	—	$	90.4
Restricted cash	6.8		—		—		6.8







Foreign exchange forward contracts	—		2.3		—		2.3
Auction rate security	—		—		2.1		2.1

	$	97.2	$	2.3	$	2.1	$	101.6
Liabilities:
Foreign exchange forward contracts	$	—	$	(0.3)	$	—	$	(0.3)
Contingent consideration	—		—		(9.5)		(9.5)
	$	—	$	(0.3)	$	(9.5)	$	(9.8)

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Below is a roll-forward of assets and liabilities measured at estimated fair value using Level 3 inputs during the six months ended August 25, 2023:


Roll-forward of Fair Value Using Level 3 Inputs	Auction Rate Security - Other Assets		Contingent Consideration - Other Long-Term Liabilities
Balance as of February 24, 2023	$	2.1	$	9.5
Unrealized gain (loss) on investment	—		—
Foreign currency (gain) loss	—		0.3
Change in estimated fair value	—		—
Balance as of August 25, 2023	$	2.1	$	9.8