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Income Taxes (Tables)

12 Months Ended

Feb. 23, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes on income before income tax expense (benefit) consists of:

Provision for Income Tax Expense (Benefit)			Year Ended
			February 23, 2024						February 24, 2023						February 25, 2022
Current income tax expense (benefit):
Federal			$	6.6					$	1.3					$	—
State and local			3.5						0.8						1.0
Foreign			14.9						14.9						10.0
			25.0						17.0						11.0
Deferred income tax expense (benefit):
Federal			(0.1)						(2.3)						(14.0)
State and local			(1.8)						1.4						(1.3)
Foreign			2.9						0.2						1.9
			1.0						(0.7)						(13.4)
Income tax expense (benefit)			$	26.0					$	16.3					$	(2.4)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income taxes were based on the following sources of income (loss) before income tax expense (benefit):

Source of Income (Loss) Before Income Tax Expense (Benefit)			Year Ended
			February 23, 2024						February 24, 2023						February 25, 2022
Domestic			$	42.3					$	2.1					$	(38.0)
Foreign			64.8						49.5						39.6
			$	107.1					$	51.6					$	1.6

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The total income tax expense (benefit) recognized is reconciled to that computed by applying the U.S. federal statutory tax rate of 21.0%, as follows:

Income Tax Provision Reconciliation			Year Ended
			February 23, 2024						February 24, 2023						February 25, 2022
Tax expense at the U.S. federal statutory rate			$	22.5					$	10.8					$	0.3
State and local income taxes, net of federal tax effect			1.3						2.0						(0.2)
Foreign operations, less applicable foreign tax credits (1)			5.9						4.0						3.1
Contingent consideration (2)			(2.0)						0.9						—
Valuation allowance provisions and adjustments (3)			1.9						1.0						(2.7)
COLI income (4)			(2.2)						(0.4)						(1.3)
Impact of change to non-U.S. federal statutory tax rates (5)			—						(0.1)						(0.3)
Officer compensation limitation			1.9						1.0						1.3
Research tax credit			(3.5)						(2.9)						(2.4)
Other U.S. domestic tax credits			(0.3)						(0.3)						(0.7)
Stock compensation			0.4						0.4						0.3
Other			0.1						(0.1)						0.2
Total income tax expense (benefit) recognized			$	26.0					$	16.3					$	(2.4)

________________________

(1)The foreign operations, less applicable foreign tax credits, amounts include the rate differential between local statutory rates and the U.S. rate on foreign operations.

(2)In 2024, we recorded a decrease in the fair value of the contingent consideration liability related to the acquisition of Viccarbe, which is nontaxable. In 2023, we recorded an increase in the fair value of this liability, which is non-deductible for tax purposes.

(3)The valuation allowance provisions and adjustments are based on current year activity, which are further detailed below.

(4)The increase in the cash surrender value of COLI policies, net of normal insurance expenses, plus maturity benefits are non-taxable.

(5)Changes to the statutory tax rates in 2023 and 2022, primarily in the U.K. and France, resulted in the revaluation of certain deferred tax assets in those jurisdictions.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of deferred income taxes are as follows:

Deferred Income Taxes			February 23, 2024						February 24, 2023
Deferred income tax assets:
Employee benefit plan obligations and deferred compensation			$	51.9					$	52.5
Operating lease obligations			47.6						55.0
Foreign and domestic net operating loss carryforwards			33.0						35.8
Capitalized research expenditures			23.9						16.4
Reserves and allowances			18.6						18.0
Tax credit carryforwards			12.7						17.9
Other, net			6.5						14.4
Total deferred income tax assets			194.2						210.0
Valuation allowances			(6.2)						(4.3)
Net deferred income tax assets			188.0						205.7
Deferred income tax liabilities:
Right-of-use operating lease assets			43.9						50.9
Property, plant and equipment			17.4						28.9
Intangible assets			18.1						16.6
Total deferred income tax liabilities			79.4						96.4
Net deferred income taxes			$	108.6					$	109.3
Net deferred income taxes is comprised of the following components:
Deferred income tax assets—non-current			115.8						117.3
Deferred income tax liabilities—non-current			7.2						8.0

Schedule of Current Taxes Payable or Refundable [Table Text Block]

Income taxes currently payable or receivable are reported on the Consolidated Balance Sheets as follows:

Income Taxes			February 23, 2024						February 24, 2023
Other current assets:
Income taxes receivable			$	11.5					$	5.3
Other current liabilities:
Income taxes payable			$	2.6					$	4.8

Summary of Operating Loss Carryforwards [Table Text Block]

Operating loss and tax credit carryforwards expire as follows:

Fiscal Year Ending February			Net Operating Loss Carryforwards (Gross)																		Net Operating Loss Carryforwards (Tax Effected)																								Tax Credit Carryforwards
			Federal						State						International						Federal						State						International						Total
2025			$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
2026-2044			0.8						22.5						7.6						0.2						1.4						1.9						3.5						12.7
No expiration			—						3.7						120.2						—						0.2						29.7						29.9						—
			$	0.8					$	26.2					$	127.8					0.2						1.6						31.6						33.4						12.7
Valuation allowances																					—						—						(4.3)						(4.3)						—
Net benefit																					$	0.2					$	1.6					$	27.3					$	29.1					$	12.7

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:

Unrecognized Tax Benefits			Year Ended
			February 23, 2024						February 24, 2023						February 25, 2022
Balance as of beginning of period			$	2.0					$	2.1					$	2.3
Gross decreases—tax positions in prior period			—						—						—
Currency translation adjustment			—						(0.1)						(0.2)
Balance as of end of period			$	2.0					$	2.0					$	2.1

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