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Goodwill & Other Intangible Assets Intangible Assets (Tables)
12 Months Ended
Feb. 23, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
A summary of the changes in goodwill during 2024 and 2023, by reportable segment, is as follows:
GoodwillAmericasInternationalTotal
Balance as of February 25, 2022$217.9 $24.9 $242.8 
Acquisition (1) (2)36.6 0.2 36.8 
Goodwill on divestiture (3)(0.9)— (0.9)
Currency translation adjustments(0.5)(1.4)(1.9)
Reallocation of goodwill (4)15.2 (15.2)— 
Goodwill294.9 303.4 598.3 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 24, 2023$268.3 $8.5 $276.8 
Goodwill on divestiture (5)(2.5)— (2.5)
Currency translation adjustments0.3 0.2 0.5 
Goodwill292.7 303.6 596.3 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 23, 2024$266.1 $8.7 $274.8 
________________________
(1)In 2023, we finalized the purchase accounting for Viccarbe, which was acquired in 2022, resulting in additional goodwill in the International segment. See Note 19 for additional information.
(2)In 2023, we acquired HALCON resulting in a goodwill addition in the Americas segment. See Note 19 for additional information.
(3)In 2023, we sold a consolidated dealer, resulting in a decrease to goodwill in the Americas segment.
(4)In 2023, we reallocated $15.2 of goodwill from the International segment to the Americas segment corresponding to a portion of the goodwill recognized in the acquisition of Viccarbe. The reallocation was triggered by changes in our management structure and allocation of resources to the Viccarbe business post-acquisition. The amount of the reallocation was based on the relative fair value of the Viccarbe business reported within the Americas segment. We performed an impairment test immediately prior to and subsequent to the reallocation of goodwill and concluded no impairment existed.
(5)In 2024, we sold a consolidated dealer, resulting in a decrease to goodwill in the Americas segment.
Intangible Assets Disclosure [Table Text Block]
As of February 23, 2024 and February 24, 2023, other intangible assets and related accumulated amortization consisted of the following:
Other Intangible AssetsFebruary 23, 2024February 24, 2023
Weighted
Average
Useful Life
(Years)
GrossAccumulated
Amortization
NetGrossAccumulated
Amortization
Net
Intangible assets subject to amortization:
Dealer relationships (1)10.8$84.9 $36.0 $48.9 $83.8 $27.6 $56.2 
Trademarks (1)8.960.5 35.9 24.6 59.6 30.6 29.0 
Know-how/designs (1)9.035.8 15.9 19.9 35.5 11.8 23.7 
Proprietary technology9.815.4 14.3 1.1 15.8 14.3 1.5 
Other (1) (2) (3) (4)3.712.9 12.9 — 14.0 13.3 0.7 
209.5 115.0 94.5 208.7 97.6 111.1 
Intangible assets not subject to amortization:
Trademarks and othern/a0.1 — 0.1 0.1 — 0.1 
$209.6 $115.0 $94.6 $208.8 $97.6 $111.2 
________________________
(1)In 2023, we acquired HALCON, resulting in an increase of intangible assets in the Americas segment. See Note 19 for additional information.
(2)In 2023, we sold a consolidated dealer, resulting in a decrease of intangible assets in the Americas segment.
(3)In 2023, we wrote off certain fully amortized assets as they were no longer in use, resulting in a decrease of intangible assets in the Americas and International segments.
(4)In 2024, we sold a consolidated dealer, resulting in a decrease of intangible assets in the Americas segment.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2025$17.4 
202617.1 
202717.1 
202813.9 
202911.0 
$76.5 
Future events, such as acquisitions, divestitures or impairments, may cause these amounts to vary.
The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of February 23, 2024:
Fiscal Year Ending in FebruaryAmount
2025$1.1 
20261.1 
20271.1 
20281.1 
20291.1 
$5.5 
The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of February 23, 2024:
Fiscal Year Ending in FebruaryAmount
2025$5.1 
20265.0 
20275.0 
20285.0 
20295.0 
$25.1