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Consolidated Statements Of Cash Flows
$ in Millions
12 Months Ended
Feb. 23, 2024
USD ($)
Feb. 24, 2023
USD ($)
Feb. 25, 2022
USD ($)
OPERATING ACTIVITIES      
Net income $ 81.1 $ 35.3 $ 4.0
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 83.6 90.0 83.2
Restructuring costs 22.5 19.2 0.0
Gain on sale of fixed assets (10.9) (12.9) (15.1)
Share-based compensation 26.0 21.8 16.1
Other (15.0) (1.0) (19.1)
Changes in operating assets and liabilities, net of acquisitions, divestures, and deconsolidations:      
Accounts receivable 21.7 (43.7) (74.9)
Inventories 88.3 12.0 (133.4)
Income taxes receivable (6.2) 36.4 7.8
Other assets (7.5) (6.8) (8.9)
Accounts payable 9.9 (39.3) 62.9
Employee compensation liabilities 31.1 29.4 (19.3)
Employee benefit obligations 5.9 (12.4) (15.4)
Increase (Decrease) in Contract with Customer, Liability (4.1) (24.9) 18.4
Accrued expenses and other liabilities (17.7) (13.7) (8.9)
Net cash provided by operating activities 308.7 89.4 (102.6)
INVESTING ACTIVITIES      
Capital expenditures (47.1) (59.1) (60.5)
Proceeds from disposal of fixed assets 49.4 9.9 17.4
Acquisition, net of cash acquired 0.0 (105.3) (32.6)
Other 3.8 19.7 10.2
Net cash provided by (used in) investing activities 6.1 (134.8) (65.5)
FINANCING ACTIVITIES      
Dividends paid (47.6) (57.3) (62.6)
Common stock repurchases (4.2) (3.9) (55.2)
Borrowings on global committed bank facility 69.0 565.2 0.0
Repayments on global committed bank facility (69.0) (565.2) 0.0
Repayments on note payable (32.2) (2.7) (2.6)
Other (1.9) 1.0 0.4
Net cash used in financing activities (85.9) (62.9) (120.0)
Effect of exchange rate changes on cash and cash equivalents (0.2) (1.5) (0.5)
Net increase (decrease) in cash, cash equivalents and restricted cash 228.7 (109.8) (288.6)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 325.9 [1] 97.2 [1],[2] 207.0 [1],[2]
Restricted Cash 7.3 6.8 6.1
Supplemental Cash Flow Information:      
Income taxes paid, net of refunds received 33.1 (16.6) 2.5
Interest paid, net of amounts capitalized $ 24.0 $ 26.2 $ 23.2
[1] These amounts include restricted cash of $7.3, $6.8 and $6.1 as of February 23, 2024, February 24, 2023 and February 25, 2022, respectively.
[2] These amounts include restricted cash of $6.8, $6.1 and $5.8 as of February 24, 2023, February 25, 2022 and February 26, 2021, respectively.