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Earnings Per Share | 6 Months Ended
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Aug. 28, 2020
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE Earnings per share is computed using the two-class method. The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent restricted stock units in which the participants have non-forfeitable rights to dividend equivalents during the performance period. Diluted earnings per share includes the effects of certain performance units in which the participants have forfeitable rights to dividend equivalents during the performance period.
| Three Months Ended |  |  |  | Six Months Ended |  |  |  |  |  |  |
Computation of Earnings per Share | August 28, 2020 |  | August 23, 2019 |  | August 28, 2020 |  | August 23, 2019 |  |  |  |  |
Net income | $ | 55.5 |  |  | $ | 60.5 |  |  | $ | 17.4 |  |  | $ | 78.3 |  |  |  |  |  |
Adjustment for earnings attributable to participating securities | (1.3) |  |  | (1.3) |  |  | (0.4) |  |  | (1.5) |  |  |  |  |  |
Net income used in calculating earnings per share | $ | 54.2 |  |  | $ | 59.2 |  |  | $ | 17.0 |  |  | $ | 76.8 |  |  |  |  |  |
Weighted-average common shares outstanding including participating securities (in millions) | 117.6 |  |  | 119.7 |  |  | 117.4 |  |  | 119.6 |  |  |  |  |  |
Adjustment for participating securities (in millions) | (2.8) |  |  | (2.4) |  |  | (2.4) |  |  | (2.3) |  |  |  |  |  |
Shares used in calculating basic earnings per share (in millions) | 114.8 |  |  | 117.3 |  |  | 115.0 |  |  | 117.3 |  |  |  |  |  |
Effect of dilutive stock-based compensation (in millions) | 0.2 |  |  | 0.5 |  |  | 0.2 |  |  | 0.5 |  |  |  |  |  |
Shares used in calculating diluted earnings per share (in millions) | 115.0 |  |  | 117.8 |  |  | 115.2 |  |  | 117.8 |  |  |  |  |  |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.47 |  |  | $ | 0.50 |  |  | $ | 0.15 |  |  | $ | 0.65 |  |  |  |  |  |
Diluted | $ | 0.47 |  |  | $ | 0.50 |  |  | $ | 0.15 |  |  | $ | 0.65 |  |  |  |  |  |
Total common shares outstanding at period end (in millions) | 114.8 |  |  | 117.2 |  |  | 114.8 |  |  | 117.2 |  |  |  |  |  |
Anti-dilutive performance units excluded from the computation of diluted earnings per share (in millions) | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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