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Fair Value (Tables) | 3 Months Ended
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May 24, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | Assets and liabilities measured at fair value within our Condensed Consolidated Balance Sheets as of May 24, 2024 and February 23, 2024 are summarized below:
Fair Value of Financial Instruments | May 24, 2024
Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 173.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 173.2 |  |
Restricted cash | 7.1 |  |  | — |  |  | — |  |  | 7.1 |  |
Managed investment portfolio and other investments |  |  |  |  |  |  |  |
Corporate debt securities - domestic | — |  |  | 13.8 |  |  | — |  |  | 13.8 |  |
Corporate debt securities - foreign | — |  |  | 4.8 |  |  | — |  |  | 4.8 |  |
Asset-backed securities | — |  |  | 9.9 |  |  | — |  |  | 9.9 |  |
U.S. government debt securities | 7.2 |  |  | — |  |  | — |  |  | 7.2 |  |
Foreign exchange forward contracts | — |  |  | 1.0 |  |  | — |  |  | 1.0 |  |
Auction rate security | — |  |  | — |  |  | 2.8 |  |  | 2.8 |  |
| $ | 187.5 |  |  | $ | 29.5 |  |  | $ | 2.8 |  |  | $ | 219.8 |  |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange forward contracts | $ | — |  |  | $ | (0.4) |  |  | $ | — |  |  | $ | (0.4) |  |
Contingent consideration | — |  |  | — |  |  | — |  |  | — |  |
| $ | — |  |  | $ | (0.4) |  |  | $ | — |  |  | $ | (0.4) |  |
Fair Value of Financial Instruments | February 23, 2024
Level 1 | Level 2 | Level 3 | Total
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 318.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 318.6 |  |
Restricted cash | 7.3 |  |  | — |  |  | — |  |  | 7.3 |  |
Foreign exchange forward contracts | — |  |  | 0.8 |  |  | — |  |  | 0.8 |  |
Auction rate security | — |  |  | — |  |  | 2.8 |  |  | 2.8 |  |
| $ | 325.9 |  |  | $ | 0.8 |  |  | $ | 2.8 |  |  | $ | 329.5 |  |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange forward contracts | $ | — |  |  | $ | (0.5) |  |  | $ | — |  |  | $ | (0.5) |  |
Contingent consideration | — |  |  | — |  |  | — |  |  | — |  |
| $ | — |  |  | $ | (0.5) |  |  | $ | — |  |  | $ | (0.5) |  |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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