Customer Allowances and Discounts

3 Months Ended

May 25, 2012

Customer Allowances and Discounts [Abstract]

Customer Allowances and Discounts

Note 7 – Customer Allowances and Discounts

Trade accounts receivable are reported net of certain allowances and discounts. The most significant of these are as follows:

(In thousands)	May 25, 2012		February 29, 2012		May 27, 2011
Allowance for seasonal sales returns	$	36,719	$	34,285	$	36,098
Allowance for outdated products		15,355		10,976		8,207
Allowance for doubtful accounts		21,366		4,480		5,932
Allowance for marketing funds		28,987		26,679		29,432
Allowance for rebates		33,106		27,648		31,862
	$	135,533	$	104,068	$	111,531

Certain customer allowances and discounts are settled in cash. These accounts, primarily rebates, which are classified as “Accrued liabilities” on the Consolidated Statement of Financial Position, totaled $12.5 million, $13.7 million and $13.5 million as of May 25, 2012, February 29, 2012 and May 27, 2011, respectively.

During the three months ended May 25, 2012, the Corporation recorded an additional allowance for doubtful accounts of approximately $17 million related to its unsecured accounts receivable exposure to Clinton Cards. See Note 15 for further information.