Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Nov. 27, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 7 – Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) are as follows:

(In thousands)	Foreign Currency Translation Adjustments			Pensions and Other Postretirement Benefits			Unrealized Investment Gain		Total
Balance at February 28, 2015	$	1,836		$	(26,239	)	$	—	$	(24,403	)
Other comprehensive income (loss) before reclassifications		(8,036	)		301			25,638		17,903
Amounts reclassified from accumulated other comprehensive income (loss)		—			493			—		493
Net current period other comprehensive income (loss)		(8,036	)		794			25,638		18,396
Balance at November 27, 2015	$	(6,200	)	$	(25,445	)	$	25,638	$	(6,007	)

The reclassifications out of accumulated other comprehensive income (loss) are as follows:

(In thousands)	Nine Months Ended November 27, 2015			Consolidated Statement of Income Classification
Pensions and Postretirement Benefits:
Amortization of pensions and other postretirement benefits items
Actuarial losses, net	$	(1,279	)	Administrative and general expenses
Prior service credit, net		521		Administrative and general expenses
		(758	)
Tax benefit		265		Income tax expense
Total, net of tax		(493	)
Total reclassifications	$	(493	)

As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, the Corporation held a minority investment in the common stock of a privately held company which was classified as available for sale and accounted for under the cost method due to the Corporation’s inability to exercise significant influence over the investee’s operating and financial policies and the absence of a readily determinable fair value for its investment. At February 28, 2015, the carrying value of this investment was zero as a result of a cash distribution in 2014 that included a return of capital. During the current year first quarter, the investee successfully completed an initial public offering of its common stock and thereby established a readily determinable fair value for the Corporation’s previously nonmarketable investment. In accordance with ASC Topic 320, “Investments – Debt and Equity Securities,” the investment is now reported at fair value and is included in “Other assets” on the Corporation’s Consolidated Statement of Financial Position. See Note 14 for further information. As a result of the initial fair value measurement at May 29, 2015 and subsequent revaluation at the end of the third quarter, an unrealized gain, net of tax, of $25.6 million was recognized in other comprehensive income during the nine months ended November 27, 2015.