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Investments In Unconsolidated Affiliates | 12 Months Ended
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Feb. 23, 2018
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract] |
Investments in Unconsolidated Affiliates | INVESTMENTS IN UNCONSOLIDATED AFFILIATES We enter into joint ventures and other equity investments from time to time to expand or maintain our geographic presence, support our distribution network or invest in new business ventures, complementary products and services. Our investments in unconsolidated affiliates and related direct ownership interests are summarized below:
Investments in unconsolidated affiliates | February 23, 2018 | February 24, 2017
Investment Balance | Ownership Interest | Investment Balance | Ownership Interest
Equity method investments |  |  |  |  |  |  |  |
Dealer relationships | $ | 26.0 |  |  | 25%-40% |  | $ | 25.2 |  |  | 20%-40% |
Manufacturing joint ventures | 9.4 |  |  | 49% |  | 8.7 |  |  | 49% |
IDEO and other | 6.1 |  |  | 5%-28% |  | 9.9 |  |  | 10%-35% |
| 41.5 |  |  |  |  | 43.8 |  |  |  |
Cost method investments |  |  |  |  |  |  |  |
Dealer relationship | 5.8 |  |  | Less than 10% |  | 5.8 |  |  | Less than 10% |
Other | 1.1 |  |  | Less than 10% |  | 0.9 |  |  | Less than 10% |
| 6.9 |  |  |  |  | 6.7 |  |  |  |
Total investments in unconsolidated affiliates | $ | 48.4 |  |  |  |  | $ | 50.5 |  |  |  |
Our equity in earnings of unconsolidated affiliates is recorded in Other income, net on the Consolidated Statements of Income and is summarized below:
Equity in earnings of unconsolidated affiliates | Year Ended
February 23, 2018 | February 24, 2017 | February 26, 2016
Dealer relationships | $ | 8.5 |  |  | $ | 8.0 |  |  | $ | 6.9 |  |
Manufacturing joint ventures | 3.3 |  |  | 1.1 |  |  | 4.8 |  |
IDEO and other | 1.0 |  |  | 0.6 |  |  | 1.7 |  |
Total equity in earnings of unconsolidated affiliates | $ | 12.8 |  |  | $ | 9.7 |  |  | $ | 13.4 |  |
Dealer Relationships We have invested in dealers from time to time to expand or maintain our geographic presence and support our distribution network. Manufacturing Joint Ventures We have entered into manufacturing joint ventures from time to time to expand or maintain our geographic presence. The manufacturing joint ventures primarily consist of Steelcase Jeraisy Company Limited, which is located in the Kingdom of Saudi Arabia and is engaged in the manufacturing of wood and metal office furniture systems, seating, accessories and related products for the Kingdom. IDEO IDEO LP is an innovation and design firm that uses a human-centered, design-based approach to generate new offerings and build new capabilities for its customers. IDEO serves Steelcase and a variety of other organizations within consumer products, financial services, healthcare, information technology, government, transportation and other industries. During Q4 2018, we sold a portion of our equity interest in IDEO and recorded gains of $13.9 in Other income, net on the Consolidated Statement of Income. The gains included a $10.0 premium related to a change in control of the affiliate and $3.9 on the sale of our interest. During 2016, we sold a portion of our equity interest in IDEO and recorded a gain of $8.5 in Other income, net on the Consolidated Statement on Income. As of February 23, 2018 and February 24, 2017 we owned a 5% and 10% equity interest in IDEO, respectively. The summarized financial information presented below represents the combined accounts of our equity method investments in unconsolidated affiliates.
Consolidated Balance Sheets | February 23, 2018 | February 24, 2017
Total current assets | $ | 225.0 |  |  | $ | 177.3 |  |
Total non-current assets | 56.3 |  |  | 37.9 |  |
Total assets | $ | 281.3 |  |  | $ | 215.2 |  |
Total current liabilities | $ | 146.9 |  |  | $ | 98.6 |  |
Total long-term liabilities | 8.7 |  |  | 9.9 |  |
Total liabilities | $ | 155.6 |  |  | $ | 108.5 |  |
Statements of Income | Year Ended
February 23, 2018 | February 24, 2017 | February 26, 2016
Revenue | $ | 708.9 |  |  | $ | 649.1 |  |  | $ | 635.1 |  |
Gross profit | 214.7 |  |  | 182.2 |  |  | 182.1 |  |
Income before income tax expense | 54.6 |  |  | 40.8 |  |  | 43.5 |  |
Net income | 45.3 |  |  | 36.9 |  |  | 40.4 |  |
Supplemental Information | Year Ended
February 23, 2018 | February 24, 2017 | February 26, 2016
Dividends received from unconsolidated affiliates | $ | 10.3 |  |  | $ | 9.9 |  |  | $ | 12.5 |  |
Sales to unconsolidated affiliates | 254.7 |  |  | 270.0 |  |  | 273.3 |  |
Amount due from unconsolidated affiliates | 12.1 |  |  | 10.6 |  |  | 10.6 |  |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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