XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Fair Value (Tables) | 9 Months Ended
--- | ---
Nov. 23, 2018
Fair Value [Abstract] |
Fair Value | FAIR VALUE The carrying amounts for many of our financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts and notes payable, short-term borrowings and certain other liabilities, approximate their fair value due to their relatively short maturities. Our foreign exchange forward contracts and long-term investments are measured at fair value on the Condensed Consolidated Balance Sheets. Our total debt is carried at cost and was $321.4 and $295.0 as of November 23, 2018 and February 23, 2018, respectively. The fair value of our total debt is measured using a discounted cash flow analysis based on current market interest rates for similar types of instruments and was approximately $334 and $316 as of November 23, 2018 and February 23, 2018, respectively. The estimation of the fair value of our total debt is based on Level 2 fair value measurements. We periodically use derivative financial instruments to manage exposures to movements in foreign exchange rates and interest rates. The use of these financial instruments modifies the exposure of these risks with the intention to reduce our risk of short-term volatility. We do not use derivatives for speculative or trading purposes. Assets and liabilities measured at fair value in our Consolidated Balance Sheets as of November 23, 2018 and February 23, 2018 are summarized below:
| November 23, 2018
Fair Value of Financial Instruments | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 51.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 51.0 |  |
Restricted cash | 3.4 |  |  | — |  |  | — |  |  | 3.4 |  |
Foreign exchange forward contracts | — |  |  | 3.2 |  |  | — |  |  | 3.2 |  |
Auction rate securities | — |  |  | — |  |  | 3.6 |  |  | 3.6 |  |
| $ | 54.4 |  |  | $ | 3.2 |  |  | $ | 3.6 |  |  | $ | 61.2 |  |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange forward contracts | — |  |  | (1.0 | ) |  | — |  |  | (1.0 | ) |
| $ | — |  |  | $ | (1.0 | ) |  | $ | — |  |  | $ | (1.0 | ) |
| February 23, 2018
Fair Value of Financial Instruments | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 283.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 283.1 |  |
Restricted cash | 2.5 |  |  | — |  |  | — |  |  | 2.5 |  |
Foreign exchange forward contracts | — |  |  | 2.1 |  |  | — |  |  | 2.1 |  |
Auction rate securities | — |  |  | — |  |  | 3.5 |  |  | 3.5 |  |
| $ | 285.6 |  |  | $ | 2.1 |  |  | $ | 3.5 |  |  | $ | 291.2 |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts | — |  |  | (1.4 | ) |  | — |  |  | (1.4 | ) |
| $ | — |  |  | $ | (1.4 | ) |  | $ | — |  |  | $ | (1.4 | ) |
Below is a roll-forward of assets and liabilities measured at fair value using Level 3 inputs for the nine months ended November 23, 2018:
Roll-Forward of Fair Value Using Level 3 Inputs | Auction Rate Securities
Balance as of February 23, 2018 | $ | 3.5 |  |
Unrealized gain on investments | 0.1 |  |
Balance as of November 23, 2018 | $ | 3.6 |  |
Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis | Assets and liabilities measured at fair value in our Consolidated Balance Sheets as of November 23, 2018 and February 23, 2018 are summarized below:
| November 23, 2018
Fair Value of Financial Instruments | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 51.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 51.0 |  |
Restricted cash | 3.4 |  |  | — |  |  | — |  |  | 3.4 |  |
Foreign exchange forward contracts | — |  |  | 3.2 |  |  | — |  |  | 3.2 |  |
Auction rate securities | — |  |  | — |  |  | 3.6 |  |  | 3.6 |  |
| $ | 54.4 |  |  | $ | 3.2 |  |  | $ | 3.6 |  |  | $ | 61.2 |  |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange forward contracts | — |  |  | (1.0 | ) |  | — |  |  | (1.0 | ) |
| $ | — |  |  | $ | (1.0 | ) |  | $ | — |  |  | $ | (1.0 | ) |
| February 23, 2018
Fair Value of Financial Instruments | Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 283.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 283.1 |  |
Restricted cash | 2.5 |  |  | — |  |  | — |  |  | 2.5 |  |
Foreign exchange forward contracts | — |  |  | 2.1 |  |  | — |  |  | 2.1 |  |
Auction rate securities | — |  |  | — |  |  | 3.5 |  |  | 3.5 |  |
| $ | 285.6 |  |  | $ | 2.1 |  |  | $ | 3.5 |  |  | $ | 291.2 |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts | — |  |  | (1.4 | ) |  | — |  |  | (1.4 | ) |
| $ | — |  |  | $ | (1.4 | ) |  | $ | — |  |  | $ | (1.4 | ) |
Rollforward of Assets with Unobservable Inputs Measured at Fair Value on Recurring Basis | Below is a roll-forward of assets and liabilities measured at fair value using Level 3 inputs for the nine months ended November 23, 2018:
Roll-Forward of Fair Value Using Level 3 Inputs | Auction Rate Securities
Balance as of February 23, 2018 | $ | 3.5 |  |
Unrealized gain on investments | 0.1 |  |
Balance as of November 23, 2018 | $ | 3.6 |  |

X
- Definition Fair Value [Abstract] + References No definition available. + Details
Name: | scs_FairValueAbstract
Namespace Prefix: | scs_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration