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Share-Based Compensation (Tables)

6 Months Ended

Aug. 23, 2019

Performance Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Valuation Assumptions for Performance Unit Awards

The weighted-average grant date fair values were determined using the following assumptions:

	2020 Awards
Three-year risk-free interest rate (1)	2.3	%
Expected term	3 years
Estimated volatility (2)	32.5	%

_______________________________________

(1) Based on the U.S. government bond benchmark on the grant date.

(2)

Represents the historical price volatility of the Company’s common stock for the three-year period preceding the grant date.

Schedule of Compensation Costs by Plan for Share-based Payment Arrangements

The total PSU expense and associated tax benefit for all outstanding awards for the three and six months ended August 23, 2019 and August 24, 2018 are as follows:

	Three Months Ended								Six Months Ended
Performance Units	August 23, 2019				August 24, 2018				August 23, 2019				August 24, 2018
Expense	$	0.3			$	1.2			$	1.7			$	3.5
Tax benefit	0.1				0.4				0.5				1.0

Schedule of Performance Unit Awards Activity

The PSU activity for the six months ended August 23, 2019 is as follows:

Maximum Number of Shares That May Be Issued Under Nonvested Units	Total		Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 22, 2019	676,800		$	18.50
Granted	237,280		16.21
Nonvested as of August 23, 2019	914,080		$	18.93

Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Costs by Plan for Share-based Payment Arrangements

The RSU expense and associated tax benefit for all outstanding awards for the three and six months ended August 23, 2019 and August 24, 2018 are as follows:

	Three Months Ended								Six Months Ended
Restricted Stock Units	August 23, 2019				August 24, 2018				August 23, 2019				August 24, 2018
Expense	$	2.0			$	2.3			$	9.9			$	9.0
Tax benefit	0.5				0.6				2.7				2.4

Schedule of Restricted Stock Unit Awards Activity

The RSU activity for the six months ended August 23, 2019 is as follows:

Nonvested Units	Total		Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 22, 2019	1,721,896		$	15.39
Granted	722,209		15.51
Vested	(37,683	)	15.05
Forfeited	(25,695	)	15.21
Nonvested as of August 23, 2019	2,380,727		$	15.43

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for performance units that were outstanding at the beginning and end of the year, and the number of performance units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance units, including, but not limited to: (a) expected term of performance units, (b) expected volatility of the entity's shares and (c) risk-free rate(s).

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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