XML 34 R24.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

Share-Based Compensation (Tables)

3 Months Ended

May 24, 2024

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:

			2025 PSUs						2024 PSUs												2023 PSUs
									Tranche 2						Tranche 1						Tranche 3						Tranche 2						Tranche 1
Risk-free interest rate (1)			7.7		%				4.9		%				3.7		%				5.2		%				4.0		%				2.6		%
Expected term			3 years						2 years						3 years						1 year						2 years						3 years
Estimated volatility (2)			38.5		%				42.4		%				44.1		%				38.9		%				37.8		%				52.2		%

_______________________________________

(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 period prior to the grant date which is equivalent to the expected term of the tranche or award.

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 24, 2024 and May 26, 2023 are as follows:

			Three Months Ended
Performance Units			May 24, 2024						May 26, 2023
Expense			$	7.5					$	5.4
Tax benefit			1.9						1.4

The total RSU expense and associated tax benefit for the three months ended May 24, 2024 and May 26, 2023 are as follows:

			Three Months Ended
Restricted Stock Units			May 24, 2024						May 26, 2023
Expense			$	7.0					$	8.3
Tax benefit			1.7						2.1

Share-based Payment Arrangement, Performance Shares, Activity

The PSU activity for the three months ended May 24, 2024 is as follows:

Maximum Number of Shares of Nonvested Units			Total						Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 23, 2024			1,299,988						$	9.51
Granted			1,887,648						13.27
Forfeited			(105,600)						11.20
Nonvested as of May 24, 2024			3,082,036						$	11.84

As of May 24, 2024, there was $7.7 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 2.0 years.

Schedule of Restricted Stock Unit Awards Activity

The RSU activity for the three months ended May 24, 2024 is as follows:

Nonvested Units			Total						Weighted-Average Grant Date Fair Value per Unit
Nonvested as of February 23, 2024			3,151,634						$	9.59
Granted			1,018,610						12.24
Vested			(102,900)						14.31
Forfeited			(42,150)						9.26
Nonvested as of May 24, 2024			4,025,194						$	10.14

X

- Definition

Schedule of Share Based Payment Award Performance Units Valuation Assumptions

+ References

No definition available.

+ Details

Name:	scs_ScheduleOfShareBasedPaymentAwardPerformanceUnitsValuationAssumptionsTableTextBlock
Namespace Prefix:	scs_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration