Shareholders' Equity

12 Months Ended

Mar. 03, 2018

Equity [Abstract]

Stockholders' Equity

Shareholders' Equity

A class of 200,000 shares of junior preferred stock with a par value of $1.00 is authorized, but unissued.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program, with subsequent increases in authorization, including an increase in authorization by 1,000,000 shares in fiscal 2018. We repurchased 702,299 shares under the program during fiscal 2018, for a total cost of $33.7 million. We repurchased 250,001 shares under the program, for a total cost of $10.8 million, in fiscal 2017, and 575,000 shares under the program, for a total cost of $24.9 million, in fiscal 2016. The Company has repurchased a total of 4,009,932 shares, at a total cost of $106.0 million, since the inception of this program. We have remaining authority to repurchase 1,240,068 shares under this program, which has no expiration date.

In addition to the shares repurchased under this repurchase plan, during fiscal 2018, 2017 and 2016, the Company also withheld $3.0 million, $2.6 million and $5.1 million, respectively, of Company stock from employees in order to satisfy stock-for-stock option exercises or tax obligations related to stock-based compensation, pursuant to terms of board and shareholder-approved compensation plans.

Accumulated Other Comprehensive Loss

The following summarizes the accumulated other comprehensive loss, net of tax, at March 3, 2018 and March 4, 2017:

(In thousands)	2018			2017
Net unrealized loss on marketable securities	$	(99	)	$	(4	)
Foreign currency hedge	156			—
Pension liability adjustments	(3,344		)	(3,628		)
Foreign currency translation adjustments	(20,766		)	(27,458		)
Total accumulated other comprehensive loss	$	(24,053	)	$	(31,090	)