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v3.19.1

Income Taxes (Tables) | 12 Months Ended
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Feb. 22, 2019
Income Tax Disclosure [Abstract] |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:
Unrecognized Tax Benefits | Year Ended
February 22, 2019 | February 23, 2018 | February 24, 2017
Balance as of beginning of period | $ | 2.2 |  |  | $ | 2.8 |  |  | $ | 8.6 |  |
Gross decreases—tax positions in prior period | — |  |  | (1.0 | ) |  | (5.3 | ) |
Currency translation adjustment | (0.2 | ) |  | 0.4 |  |  | (0.5 | ) |
Balance as of end of period | $ | 2.0 |  |  | $ | 2.2 |  |  | $ | 2.8 |  |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes on income before income taxes consists of:
Provision for Income Taxes—Expense | Year Ended
February 22, 2019 | February 23, 2018 | February 24, 2017
Current income taxes: |  |  |  |  |  |
Federal | $ | 18.4 |  |  | $ | 15.0 |  |  | $ | 18.4 |  |
State and local | 6.0 |  |  | 0.8 |  |  | 9.5 |  |
Foreign | 14.6 |  |  | 12.1 |  |  | 17.0 |  |
| 39.0 |  |  | 27.9 |  |  | 44.9 |  |
Deferred income taxes: |  |  |  |  |  |
Federal | (3.6 | ) |  | 37.9 |  |  | 21.4 |  |
State and local | 1.2 |  |  | 7.0 |  |  | 1.2 |  |
Foreign | 1.3 |  |  | 8.0 |  |  | 4.2 |  |
| (1.1 | ) |  | 52.9 |  |  | 26.8 |  |
Income tax expense | $ | 37.9 |  |  | $ | 80.8 |  |  | $ | 71.7 |  |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Income taxes were based on the following sources of income before income tax expense:
Source of Income Before Income Tax Expense | Year Ended
February 22, 2019 | February 23, 2018 | February 24, 2017
Domestic | $ | 119.4 |  |  | $ | 120.2 |  |  | $ | 136.0 |  |
Foreign | 44.5 |  |  | 41.3 |  |  | 60.3 |  |
| $ | 163.9 |  |  | $ | 161.5 |  |  | $ | 196.3 |  |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The total income tax expense we recognized is reconciled to that computed by applying the U.S. federal statutory tax rate of 21.0% for 2019 and 32.9% for 2018 and 35.0% for 2017, as follows:
Income Tax Provision Reconciliation | Year Ended
February 22, 2019 | February 23, 2018 | February 24, 2017
Tax expense at the U.S. federal statutory rate | $ | 34.4 |  |  | $ | 53.2 |  |  | $ | 68.7 |  |
Impact of the Tax Act (1) | (1.6 | ) |  | 27.9 |  |  | — |  |
State and local income taxes, net of federal | 5.7 |  |  | 6.7 |  |  | 6.5 |  |
Valuation allowance provisions and adjustments (2) | (1.3 | ) |  | 0.4 |  |  | (2.2 | ) |
Foreign investment tax credits (3) | — |  |  | (1.6 | ) |  | — |  |
COLI income (4) | (1.6 | ) |  | (3.4 | ) |  | (3.3 | ) |
Foreign operations, less applicable foreign tax credits (5) | 7.8 |  |  | 1.4 |  |  | (2.0 | ) |
Impact of change to non-U.S. federal statutory tax rates (6) | (0.8 | ) |  | 4.0 |  |  | 9.3 |  |
Research tax credit | (2.9 | ) |  | (2.3 | ) |  | (1.8 | ) |
Tax reserve adjustments (7) | — |  |  | (0.2 | ) |  | (5.3 | ) |
Other | (1.8 | ) |  | (5.3 | ) |  | 1.8 |  |
Total income tax expense recognized | $ | 37.9 |  |  | $ | 80.8 |  |  | $ | 71.7 |  |
________________________
(1) | We remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which are generally 21.0%. Those items that reversed in 2018 were remeasured using a tax rate of 32.9%. We recorded a provisional decrease to deferred tax assets of $23.9 attributable to the rate reduction and a provisional tax liability of $4.0 related to transition tax for 2018. During 2019, we recorded adjustments reducing the impact of the rate change and the transition tax by $1.0 and $0.6 respectively, representing a tax rate reduction of 1%.
(2) | The valuation allowance provisions were based on current year activity, and the valuation allowance adjustments were based on various factors, which are further detailed below.
(3) | Investment tax credits were granted by the Czech Republic for investments in qualifying manufacturing equipment.
(4) | The increase in the cash surrender value of COLI policies, net of normal insurance expenses, plus death benefit gains are non-taxable.
(5) | The foreign operations, less applicable foreign tax credits, amounts include the rate differential between local statutory rates and the U.S. rate on foreign operations.
(6) | Reductions to the French corporate tax rate resulted in the revaluation of certain deferred tax assets of our French tax group, causing an increase to income tax expense of $4.0 and $7.9 in 2018 and 2017, respectively. During 2017, reductions to the United Kingdom corporate tax rate increased tax expense by $1.5.
(7) | Adjustments in 2017 related to a French income tax audit that was settled in 2017
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The significant components of deferred income taxes are as follows:
Deferred Income Taxes | February 22, 2019 | February 23, 2018
Deferred income tax assets: |  |  |  |
Employee benefit plan obligations and deferred compensation | $ | 59.2 |  |  | $ | 55.8 |  |
Foreign and domestic net operating loss carryforwards | 46.1 |  |  | 55.8 |  |
Reserves and accruals | 16.2 |  |  | 18.9 |  |
Tax credit carryforwards | 38.7 |  |  | 31.8 |  |
Other, net | 17.4 |  |  | 16.1 |  |
Total deferred income tax assets | 177.6 |  |  | 178.4 |  |
Valuation allowances | (7.8 | ) |  | (9.5 | ) |
Net deferred income tax assets | 169.8 |  |  | 168.9 |  |
Deferred income tax liabilities: |  |  |  |
Property, plant and equipment | 29.4 |  |  | 28.4 |  |
Intangible assets | 10.6 |  |  | 3.4 |  |
Prepaid expenses | 2.2 |  |  | 1.7 |  |
Total deferred income tax liabilities | 42.2 |  |  | 33.5 |  |
Net deferred income taxes | $ | 127.6 |  |  | $ | 135.4 |  |
Net deferred income taxes is comprised of the following components: |  |  |  |
Deferred income tax assets—non-current | 135.8 |  |  | 135.4 |  |
Deferred income tax liabilities—non-current | 8.2 |  |  | — |  |
Schedule of Current Taxes Payable or Refundable [Table Text Block] | Income taxes currently payable or refundable are reported on the Consolidated Balance Sheets as follows:
Income Taxes | February 22, 2019 | February 23, 2018
Other current assets: |  |  |  |
Income taxes receivable | $ | 11.6 |  |  | $ | 19.7 |  |
Other long-term assets: |  |  |  |
Income taxes receivable | $ | — |  |  | $ | — |  |
Accrued expenses: |  |  |  |
Income taxes payable | $ | 3.5 |  |  | $ | 8.6 |  |
Summary of Income Tax Contingencies [Table Text Block] |
Summary of Operating Loss Carryforwards [Table Text Block] | Operating loss and tax credit carryforwards expire as follows:
Fiscal Year Ending February | Net Operating Loss Carryforwards (Gross) | Net Operating Loss Carryforwards (Tax Effected) | Tax Credit Carryforwards
Federal | State | International | Federal | State | International | Total
2020 | $ | — |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | — |  |
2023-2038 | 1.0 |  |  | 14.1 |  |  | — |  |  | 0.2 |  |  | 1.6 |  |  | — |  |  | 1.8 |  |  | 38.7 |  |
No expiration | — |  |  | — |  |  | 185.2 |  |  | — |  |  | — |  |  | 44.6 |  |  | 44.6 |  |  | — |  |
| $ | 1.0 |  |  | $ | 14.1 |  |  | $ | 185.6 |  |  | 0.2 |  |  | 1.6 |  |  | 44.7 |  |  | 46.5 |  |  | 38.7 |  |
Valuation allowances |  |  |  |  |  |  | — |  |  | (0.6 | ) |  | (5.8 | ) |  | (6.4 | ) |  | (1.5 | ) |
Net benefit |  |  |  |  |  |  | $ | 0.2 |  |  | $ | 1.0 |  |  | $ | 38.9 |  |  | $ | 40.1 |  |  | $ | 37.2 |  |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=96868398&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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