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Share-Based Compensation (Tables)
9 Months Ended
Nov. 24, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share Based Payment Award Performance Units Valuation Assumptions The Monte Carlo simulation was computed using the following assumptions:
2024 PSUs2023 PSUs2022 PSUs
Tranche 1Tranche 2Tranche 1Tranche 3Tranche 2Tranche 1
Risk-free interest rate (1)3.7 %4.0 %2.6 %4.7 %2.3 %0.3 %
Expected term3 years2 years3 years1 year2 years3 years
Estimated volatility (2)44.1 %37.8 %52.2 %45.5 %43.8 %53.5 %
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(1)Based on the U.S. Government bond benchmark on the grant date.
(2)Represents the historical price volatility of our Class A Common Stock for the period prior to the grant date which is equivalent to the expected term of the tranche.
Schedule of Compensation Costs by Plan for Share-based Payment Arrangements
The total PSU expense (credit) and associated tax benefit (expense) recorded during the three and nine months ended November 24, 2023 and November 25, 2022 are as follows:
 Three Months EndedNine Months Ended
Performance UnitsNovember 24,
2023
November 25,
2022
November 24,
2023
November 25,
2022
Expense (credit)$0.1 $(1.3)$6.3 $2.6 
Tax benefit (expense)— (0.3)1.5 0.7 
The total RSU expense and associated tax benefit for the nine months ended November 24, 2023 and November 25, 2022 are as follows:
 Three Months EndedNine Months Ended
Restricted Stock UnitsNovember 24,
2023
November 25,
2022
November 24,
2023
November 25,
2022
Expense$3.3 $3.4 $15.0 $14.6 
Tax benefit0.8 0.9 3.7 3.7 
Share-based Payment Arrangement, Performance Shares, Activity
The PSU activity for the nine months ended November 24, 2023 is as follows:
Maximum Number of Shares of Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value
per Unit
Nonvested as of February 24, 20231,060,231 $13.11 
Granted1,315,664 8.30 
Nonvested as of November 24, 20232,375,895 $10.44 
As of November 24, 2023, there was $2.6 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.8 years.
Schedule of Restricted Stock Unit Awards Activity
The RSU activity for the nine months ended November 24, 2023 is as follows:
Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value
per Unit
Nonvested as of February 24, 20233,293,268 $12.11 
Granted1,767,505 8.31 
Vested(269,934)11.65 
Forfeited(65,580)10.48 
Nonvested as of November 24, 20234,725,259 $10.74