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Share-Based Compensation (Tables)

9 Months Ended

Nov. 25, 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		%

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(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 (credit) and associated tax benefit recorded during the three and nine months ended November 25, 2022 and November 26, 2021 are as follows:

			Three Months Ended												Nine Months Ended
Performance Units			November 25, 2022						November 26, 2021						November 25, 2022						November 26, 2021
Expense (credit)			$	(1.3)					$	(4.1)					$	2.6					$	1.5
Tax benefit (expense)			(0.3)						(1.0)						0.7						0.4

The total RSU expense and associated tax benefit for the three and nine months ended November 25, 2022 and November 26, 2021 are as follows:

			Three Months Ended												Nine Months Ended
Restricted Stock Units			November 25, 2022						November 26, 2021						November 25, 2022						November 26, 2021
Expense			$	3.4					$	2.1					$	14.6					$	11.3
Tax benefit			0.9						0.5						3.7						2.8

Share-based Payment Arrangement, Performance Shares, Activity

The PSU activity for the nine months ended November 25, 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 November 25, 2022			2,331,025			$	12.72

As of November 25, 2022, there was $0.6 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.8 years.

Schedule of Restricted Stock Unit Awards Activity

The RSU activity for the nine months ended November 25, 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			1,222,849			10.67
Vested			(223,936)			14.67
Forfeited			(72,030)			12.65
Nonvested as of November 25, 2022			4,372,321			$	11.38

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Schedule of Share Based Payment Award Performance Units Valuation Assumptions

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section 50
-Paragraph 2
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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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