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Share-Based Compensation (Tables) | 3 Months Ended
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May 27, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Share Based Payment Award Performance Units Valuation Assumptions | The Monte Carlo simulation was computed using the following assumptions:
| FY23 Award | FY22 Award | FY21 Award
Tranche 1 | Tranche 2 | Tranche 1 | Tranche 3 | Tranche 2 | Tranche 1
Risk-free interest rate (1) | 2.6 | % |  | 2.3 | % |  | 0.3 | % |  | 1.6 | % |  | 0.2 | % |  | 0.2 | % |
Expected term | 3 years |  | 2 years |  | 3 years |  | 1 year |  | 2 years |  | 2 years |
Estimated volatility (2) | 52.2 | % |  | 43.8 | % |  | 53.5 | % |  | 28.7 | % |  | 61.3 | % |  | 58.1 | % |
_______________________________________ (1)Based on the U.S. Government bond benchmark on the grant date. (2)Represents the historical price volatility of our Class A 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 recorded during the three months ended May 27, 2022 and May 28, 2021 are as follows:
| Three Months Ended |  |
Performance Units | May 27, 2022 | May 28, 2021 |  |  |  |
Expense | $ | 4.1 |  |  | $ | 5.2 |  |  |  |  |  |  |  |  |  |
Tax benefit | 1.0 |  |  | 1.3 |  |  |  |  |  |  |  |  |  |
The total RSU expense and associated tax benefit for the three months ended May 27, 2022 and May 28, 2021 are as follows:
| Three Months Ended |  |
Restricted Stock Units | May 27, 2022 | May 28, 2021 |  |  |  |
Expense | $ | 7.9 |  |  | $ | 7.7 |  |  |  |  |  |  |  |  |  |
Tax benefit | 2.0 |  |  | 1.9 |  |  |  |  |  |  |  |  |  |
Share-based Payment Arrangement, Performance Shares, Activity | The PSU activity for the three months ended May 27, 2022 is as follows:
Maximum Number of Shares of Nonvested Units | Total | Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 25, 2022 | 1,205,833 |  | $ | 14.21 |
Granted | 1,125,192 |  | 11.13 |
Nonvested as of May 27, 2022 | 2,331,025 |  | $ | 12.72 |
As of May 27, 2022, there was $1.5 of remaining unrecognized compensation cost related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 2.2 years.
Schedule of Restricted Stock Unit Awards Activity | The RSU activity for the three months ended May 27, 2022 is as follows:
Nonvested Units | Total | Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 25, 2022 | 3,445,438 |  | $ | 11.86 |
Granted | 1,008,424 |  | 11.21 |
Vested | (10,500) |  | 14.27 |
Forfeited | (10,200) |  | 14.37 |
Nonvested as of May 27, 2022 | 4,433,162 |  | $ | 11.70 |

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- Definition 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 -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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