Shareholders' Equity

12 Months Ended

Feb. 29, 2020

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 2020. We repurchased 686,997 shares under the program during fiscal 2020, for a total cost of $25.1 million. We repurchased 1,257,983 shares under the program, for a total cost of $43.3 million, in fiscal 2019, and 702,299 shares under the program, for a total cost of $33.7 million, in fiscal 2018. The Company has repurchased a total of 5,954,912 shares, at a total cost of $174.4 million, since the inception of this program. We have remaining authority to repurchase 2,295,088 shares under this program, which has no expiration date.

In addition to the shares repurchased under this repurchase plan, during fiscal 2020, 2019 and 2018, the Company also withheld $2.3 million, $2.0 million and $3.0 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 February 29, 2020 and March 2, 2019:

(In thousands)	2020			2019
Net unrealized gain (loss) on marketable securities	$	222		$	(35	)
Foreign currency hedge	(832		)	(409		)
Pension liability adjustments	(4,257		)	(3,852		)
Foreign currency translation adjustments	(29,195		)	(27,831		)
Total accumulated other comprehensive loss	$	(34,062	)	$	(32,127	)