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Divestitures (Notes)

12 Months Ended

Feb. 26, 2021

Divestiture [Abstract]

Mergers, Acquisitions and Dispositions Disclosures [Text Block]

DIVESTITURE

In 2020, we sold all outstanding capital stock of PolyVision for net proceeds of $72.6. The transaction resulted in the disposition of the net assets of the PolyVision operating entities in the U.S. and Belgium, which totaled $47.8. The net assets were primarily related to accounts receivable, inventory, property, plant and equipment and goodwill. In conjunction with the sale, we recorded a provision for $3.8 related to minimum purchase commitments for three years following the date of the sale. The transaction resulted in a gain of $21.0 in the Other category which reduced Operating expenses in the Consolidated Statements of Income. Subsequent to the sale, we continue to market certain PolyVision branded products to provide customers with a full suite of collaboration solutions.

Our Consolidated Statements of Income include the following in the Other category related to PolyVision:

			Year Ended
			February 28, 2020						February 22, 2019
Revenue			$	61.5					$	61.9
Gross profit			18.6						18.9
Operating income			6.4						7.4

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- Definition

Divestiture [Abstract]

+ References

No definition available.

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- Definition

The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=2122178

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972

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