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Recent Accounting Pronouncements (Tables)
 9 Months Ended
Dec. 01, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The below tables set forth the adjustments to the Company’s consolidated statement of earnings and consolidated balance sheet as a result of the newly adopted revenue recognition standard.

Three months ended December 1, 2018
(In thousands)
As Reported

Balances Without Adoption of ASU 2014-09

Impact of Adoption Increase/(Decrease)






Net sales
$
3,032,231


$
3,033,092


$
(861
)
Cost of sales
2,028,521


2,036,642


(8,121
)
    Gross profit
1,003,710


996,450


7,260

Selling, general and administrative expenses
954,197


921,289


32,908

    Operating profit
49,513


75,161


(25,648
)
Interest expense, net
22,691


22,691


—

    Earnings before provision for income taxes
26,822


52,470


(25,648
)
Provision for income taxes
2,468


8,906


(6,438
)
    Net earnings
$
24,354


$
43,564


$
(19,210
)
Net earnings per share - Diluted
$
0.18


$
0.33


$
(0.15
)

Nine months ended December 1, 2018
(In thousands)
As Reported
 
Balances Without Adoption of ASU 2014-09

Impact of Adoption Increase/(Decrease)


 



Net sales
$
8,720,916

 
$
8,726,573


$
(5,657
)
Cost of sales
5,763,797

 
5,787,579


(23,782
)
    Gross profit
2,957,119

 
2,938,994


18,125

Selling, general and administrative expenses
2,747,519

 
2,714,637


32,882

    Operating profit
209,600

 
224,357


(14,757
)
Interest expense, net
54,034

 
54,034


—

    Earnings before provision for income taxes
155,566

 
170,323


(14,757
)
Provision for income taxes
38,997

 
42,686


(3,689
)
    Net earnings
$
116,569

 
$
127,637


$
(11,068
)
Net earnings per share - Diluted
$
0.86

 
$
0.94


$
(0.08
)
 
December 1, 2018
(In thousands)
As Reported
 
Balances Without Adoption of ASU 2014-09
 
Impact of Adoption Increase/(Decrease)
 
 
 
 
 
 
Assets
 
 
 
 
 
Merchandise inventories
$
3,005,548

 
$
3,007,322

 
$
(1,774
)
Prepaid expenses and other current assets
474,285

 
383,155

 
91,130

 
 
 
 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
 
Accrued expenses and other current liabilities
$
793,916

 
$
678,601

 
$
115,315

Merchandise credit and gift card liabilities
330,759

 
341,429

 
(10,670
)
Retained earnings
11,388,910

 
11,404,199

 
(15,289
)