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EMPLOYEE BENEFIT PLANS
 9 Months Ended
Dec. 03, 2022
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Pension and Other Post-Retirement Benefits

The following table provides the components of net pension and post-retirement (income) expense (in millions):
12 weeks ended
PensionOther post-retirement benefits
December 3,
2022		December 4,
2021		December 3,
2022		December 4,
2021
Estimated return on plan assets$(21.5)$(22.1)$— $— 
Service cost4.6 4.5 — — 
Interest cost11.9 8.1 0.1 — 
Amortization of prior service cost0.1 0.1 — — 
Amortization of net actuarial loss (gain)0.2 0.1 (0.1)— 
Income, net$(4.7)$(9.3)$— $— 
40 weeks ended
PensionOther post-retirement benefits
December 3,
2022		December 4,
2021		December 3,
2022		December 4,
2021
Estimated return on plan assets$(71.5)$(79.3)$— $— 
Service cost15.3 16.5 — — 
Interest cost39.6 30.8 0.3 0.2 
Amortization of prior service cost0.3 0.2 — — 
Amortization of net actuarial loss (gain)0.5 0.6 (0.3)(0.3)
Settlement gain— (14.3)— — 
Income, net$(15.8)$(45.5)$— $(0.1)

The Company contributed $14.1 million and $19.1 million to its defined pension plans and post-retirement benefit plans during the 12 and 40 weeks ended December 3, 2022, respectively. For the 12 and 40 weeks ended December 4, 2021, the Company contributed $16.8 million and $28.0 million, respectively. At the Company's discretion, additional funds may be contributed to the defined benefit pension plans that are determined to be beneficial to the Company. The Company currently anticipates contributing an additional $7.9 million to these plans for the remainder of fiscal 2022.

During the 40 weeks ended December 4, 2021, the Company purchased a group annuity policy and transferred $203.5 million of pension plan assets to an insurance company, thereby reducing the Company's defined benefit pension obligations by $205.4 million. As a result of the annuity purchase, the Company recorded a settlement gain of $11.1 million during the 40 weeks ended December 4, 2021.
Multiemployer Pension Plans

ARP Act: The American Rescue Plan Act ("ARP Act"), which was signed into law on March 11, 2021, established a special financial assistance ("SFA") program for financially troubled multiemployer pension plans. Under the ARP Act, eligible multiemployer plans can apply to receive a cash payment in an amount projected by the Pension Benefit Guaranty Corporation ("PBGC") to pay pension benefits through the plan year ending 2051. In the fourth quarter of fiscal 2021, the Combined Plan submitted its application to receive SFA. During the first quarter of fiscal 2022, the Combined Plan received approval and payment from the PBGC for $1.2 billion in SFA.

During the second quarter of fiscal 2022, the PBGC issued the final rule with respect to the SFA program which allowed for both additional funding and the investment of one third of the SFA funds into return-seeking investments. Based on the final rule, on August 8, 2022, the Combined Plan submitted a supplemented application for additional funding of approximately $120 million. The Combined Plan is now expected to remain solvent and therefore the Company currently does not expect to have any funding requirements for the Excess Plan. As a result, during the 40 weeks ended December 3, 2022, the Company recorded a non-cash pre-tax gain of $19.0 million to remove the pension liability for the Excess Plan. On December 6, 2022, subsequent to the 12 weeks ended December 3, 2022, the Combined Plan received approval for the additional funding. For additional information, including a description and definition of the Combined Plan, as well as the impact on the Excess Plan, as defined therein, see "Part II—Item 8. Financial Statements and Supplementary Data—Note 12" of the Company's Annual Report on Form 10-K for the fiscal year ended February 26, 2022.

Equity-Based Compensation

All unvested equity awards outstanding participate in the Special Dividend, according to the same vesting terms and conditions as the underlying equity award. Unvested equity awards with dividend equivalent rights ("DERs") will receive the Special Dividend through the issuance of additional RSUs, while unvested equity awards without DERs will receive the Special Dividend in cash subject to anti-dilution provisions. For the Special Dividend that will be settled in cash upon vesting, modification accounting was applied to reflect liability classification. The modification did not result in a material impact to the Company's financial position or results of operations. For further description of the Special Dividend, see Note 2 - Merger Agreement and Special Dividend.

Merger-Related Retention Benefits
The Merger Agreement provides for the Company to establish a retention program to promote retention and to incentivize efforts to close the Merger and to ensure a successful and efficient integration process. On December 18, 2022, the retention program was approved, with an aggregate amount of up to $100 million, as amended, covering certain executive officers and employees of the Company. The timing and amounts of the payments related to this retention program will depend on the timing of the anticipated close date of the Merger and executives and certain employees remaining active through the payment dates with 50% of the award being paid upon the close of the Merger and 50% of the award being paid six months after close of the Merger. In the event the Merger Agreement is terminated, 50% of the award will be paid on October 13, 2024 and 50% will be paid on October 13, 2025.