Retirement Plans (Tables)

12 Months Ended

Mar. 03, 2018

Retirement Plans

Summary of net periodic pension expense for the defined benefit plans

	Defined Benefit Pension Plan
	2018			2017			2016
Service cost	$	1,212		$	1,291		$	1,498
Interest cost		6,340			6,634			6,398
Expected return on plan assets		(4,525	)		(4,512	)		(6,330	)
Amortization of unrecognized prior service cost		—			—			67
Amortization of unrecognized net loss (gain)		3,393			5,085			3,690
Net pension expense	$	6,420		$	8,498		$	5,323
Other changes recognized in other comprehensive loss:
Unrecognized net (gain) loss arising during period	$	(8,704	)	$	(3,979	)	$	7,369
Prior service cost arising during period		—			—			—
Amortization of unrecognized prior service costs		—			—			(67	)
Amortization of unrecognized net (loss) gain		(3,393	)		(5,085	)		(3,690	)
Net amount recognized in other comprehensive loss		(12,097	)		(9,064	)		3,612
Net amount recognized in pension expense and other comprehensive loss	$	(5,677	)	$	(566	)	$	8,935

Schedule of reconciliation for both benefit obligation and plan assets of defined benefit plans, as well as funded status and amounts recognized in balance sheet

	Defined Benefit Pension Plan
	2018			2017
Change in benefit obligations:
Benefit obligation at end of prior year	$	164,349		$	156,474
Service cost		1,212			1,291
Interest cost		6,340			6,634
Distributions		(7,963	)		(7,449	)
Change due to change in assumptions		—			—
Actuarial loss (gain)		(2,087	)		7,399
Benefit obligation at end of year	$	161,851		$	164,349
Change in plan assets:
Fair value of plan assets at beginning of year	$	118,658		$	110,217
Employer contributions		9,023			—
Actual return on plan assets		11,142			15,890
Distributions (including expenses paid by the plan)		(7,963	)		(7,449	)
Fair value of plan assets at end of year	$	130,860		$	118,658
Funded status	$	(30,991	)	$	(45,691	)
Net amount recognized	$	(30,991	)	$	(45,691	)
Amounts recognized in consolidated balance sheets consisted of:
Prepaid pension cost	$	—		$	—
Accrued pension liability		(30,991	)		(45,691	)
Net amount recognized	$	(30,991	)	$	(45,691	)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss	$	(32,664	)	$	(44,761	)
Prior service cost		—			—
Amount recognized	$	(32,664	)	$	(44,761	)

Schedule of significant actuarial assumptions used for all defined benefit plans to determine benefit obligation

	Defined Benefit Pension Plan
	2018			2017			2016
Discount rate		4.00	%		4.00	%		4.25	%
Rate of increase in future compensation levels		N/A			N/A			N/A
Expected long-term rate of return on plan assets		6.25	%		6.50	%		6.50	%

Schedule of weighted average assumptions used to determine net benefit cost

	Defined Benefit Pension Plan
	2018			2017			2016
Discount rate		4.00	%		4.25	%		4.00	%
Rate of increase in future compensation levels		N/A			N/A			N/A
Expected long-term rate of return on plan assets		6.50	%		6.50	%		6.50	%

Schedule of pension plan asset allocations by asset category

	March 3, 2018			March 4, 2017
Equity securities		53	%		52	%
Fixed income securities		47	%		48	%
Total		100	%		100	%

Schedule of target allocation of plan assets

Category	Target Allocation
U.S. equities		39	%
International equities		13	%
U.S. fixed income		48	%
Total		100	%

Summary of the plan's investments measured at fair value on a recurring basis

	Fair Value Measurements at March 3, 2018
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equity Securities
International equity	$	—	$	—	$	—	$	18,043
Large Cap		—		—		—		35,491
Small-Mid Cap		—		—		—		15,510
Fixed Income
Long Term Credit Bond Index		—		—		—		46,222
Long Term US Government Bonds		—		—		—		8,070
20+ Year Treasury STRIPS		—		—		—		1,168
Intermediate Fixed Income		—		—		—		5,617
Other types of investments
Short Term Investments		—		—		—		739
Total	$	—	$	—	$	—	$	130,860

	Fair Value Measurements at March 4, 2017
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Equity Securities
International equity	$	—	$	—	$	—	$	15,348
Large Cap		—		—		—		32,413
Small-Mid Cap		—		—		—		14,083
Fixed Income
Long Term Credit Bond Index		—		—		—		47,694
20+ Year Treasury STRIPS		—		—		—		7,563
Intermediate Fixed Income		—		—		—		639
Other types of investments
Short Term Investments		—		—		—		918
Total	$	—	$	—	$	—	$	118,658

Schedule of future benefit payments expected to be paid

Fiscal Year	Defined Benefit Pension Plan
2019	$	8,160
2020		8,383
2021		8,576
2022		8,736
2023		8,868
2024 - 2028		46,455
Total	$	89,178