Accounting Pronouncements

12 Months Ended

Mar. 03, 2013

Accounting Pronouncements [Abstract]

Accounting Pronouncements

16. ACCOUNTING PRONOUNCEMENTS

Recently Adopted

     In June 2011, the Financial Accounting Standards Board ("FASB") issued authoritative guidance that eliminates the option of presenting components of Other Comprehensive Income ("OCI") as part of the statement of shareholders' equity. The guidance instead requires the reporting of OCI in a single continuous statement of comprehensive income or in a separate statement immediately following the statement of earnings. The Company adopted the guidance effective February 27, 2012, and the adoption of this guidance did not impact the Company's results of operations, cash flows or financial condition.

     In September 2011, the FASB issued authoritative guidance which permits an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform a two-step goodwill impairment test. The Company adopted this guidance in connection with its 2013 fiscal year impairment analysis. The adoption of this guidance did not impact the Company's results of operations, cash flows or financial condition.

Recently Issued

     In February 2013, the FASB issued authoritative guidance that requires disclosure of amounts reclassified out of accumulated other comprehensive income ("AOCI") by component. In addition, an entity is required to present, either on the face of the financial statements or in the notes, significant amounts reclassified out of AOCI by the respective line items of net income, but only if the amount reclassified is required to be reclassified in its entirety in the same reporting period. For amounts that are not required to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures that provide additional details about such amounts. This guidance is effective prospectively for reporting periods beginning after December 15, 2012, which is the first quarter of the Company's 2014 fiscal year. This guidance affects financial statement disclosure only, and its adoption will not affect the Company's results of operations, cash flows or financial position.

     In March 2013, the FASB issued authoritative guidance which states that when a parent sells an investment in a foreign entity and ceases to have a controlling interest in that foreign entity or a foreign subsidiary disposes of substantially all of its assets or when control of a foreign entity is obtained in which the parent held an equity interest before the acquisition date, the cumulative translation adjustment should be released into net income. The guidance is effective prospectively for fiscal years (and interim reporting periods within those fiscal years) beginning after December 15, 2013, with early adoption permitted, which is the first quarter of the Company's 2015 fiscal year. The Company does not expect that the adoption of this standard will have a material impact on the Company's results of operations, cash flows or financial position.