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Share-Based Compensation (Tables) | 6 Months Ended
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Aug. 23, 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 and six months ended August 23, 2024 and August 25, 2023 are as follows:
| Three Months Ended | Six Months Ended |
Performance Units | August 23, 2024 | August 25, 2023 | August 23, 2024 | August 25, 2023 |  |
Expense | $ | 0.9 |  |  | $ | 0.8 |  |  | $ | 8.4 |  |  | $ | 6.2 |  |  |  |  |  |
Tax benefit | 0.2 |  |  | 0.1 |  |  | 2.1 |  |  | 1.5 |  |  |  |  |  |
The total RSU expense and associated tax benefit for the three and six months ended August 23, 2024 and August 25, 2023 are as follows:
| Three Months Ended | Six Months Ended |
Restricted Stock Units | August 23, 2024 | August 25, 2023 | August 23, 2024 | August 25, 2023 |  |
Expense | $ | 2.0 |  |  | $ | 3.4 |  |  | $ | 9.0 |  |  | $ | 11.7 |  |  |  |  |  |
Tax benefit | 0.5 |  |  | 0.8 |  |  | 2.2 |  |  | 2.9 |  |  |  |  |  |
Share-based Payment Arrangement, Performance Shares, Activity | The PSU activity for the six months ended August 23, 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 August 23, 2024 | 3,082,036 |  |  | $ | 11.84 |  |
As of August 23, 2024, there was $6.4 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 six months ended August 23, 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 | 1,023,304 |  |  | 12.24 |  |
Vested | (122,379) |  |  | 13.64 |  |
Forfeited | (61,199) |  |  | 9.49 |  |
Nonvested as of August 23, 2024 | 3,991,360 |  |  | $ | 10.15 |  |

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