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Sale-Leaseback Transactions
9 Months Ended
Dec. 03, 2011
Sale-Leaseback Transactions [Abstract]  
Sale-Leaseback Transactions

19. Sale-Leaseback Transactions

During the third quarter of fiscal 2010, we sold six properties for $89.8 million and simultaneously leased them back from the purchaser. However, due to our continuing involvement with these properties, including that all six leases contain fixed-price renewal options that extend beyond the economic useful life of the property, the sales did not qualify for sale-leaseback accounting treatment. The carrying value of these properties of approximately $68.3 million remained on our Consolidated Balance Sheets at December 4, 2010 and no sale was recognized. Instead, the sales price of these properties of $89.8 million was recorded as a long-term real estate liability with a maturity of 20 years, within "Long-term real estate liabilities" on our Consolidated Balance Sheets at December 4, 2010. In addition, all lease payments are being charged to "Interest expense" in our Consolidated Statements of Operations. Five properties were sold for a gain of $19.8 million after expenses which are being deferred until the end of the lease terms when our continuing involvement ceases. One property was sold at a loss of $0.8 million which was recognized immediately.