XML 54 R40.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Income Taxes (Tables) | 12 Months Ended
--- | ---
Feb. 27, 2016
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | Earnings before income taxes consisted of the following:
(In thousands) | 2016 |  | 2015 |  | 2014
U.S. | $ | 100,859 |  |  | $ | 59,898 |  |  | $ | 36,700 |
International | (3,535 | ) |  | 5,101 |  |  | 3,066 |
Earnings before income taxes | $ | 97,324 |  |  | $ | 64,999 |  |  | $ | 39,766 |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) for each of the last three fiscal years are as follows:
(In thousands) | 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |
Federal | $ | 35,888 |  |  | $ | 7,328 |  |  | $ | 15,711 |
State and local | 2,866 |  |  | 1,198 |  |  | 1,440 |
International | (636 | ) |  | 1,790 |  |  | 1,437 |
Total current | $ | 38,118 |  |  | $ | 10,316 |  |  | $ | 18,588 |
Deferred: |  |  |  |  |
Federal | $ | (5,403 | ) |  | $ | 4,738 |  |  | $ | (4,549 | )
State and local | (512 | ) |  | (363 | ) |  | (378 | )
International | (224 | ) |  | (101 | ) |  | (353 | )
Total deferred | $ | (6,139 | ) |  | $ | 4,274 |  |  | $ | (5,280 | )
Total non-current tax benefit | $ | 3 |  |  | $ | (107 | ) |  | $ | (1,528 | )
Total income tax expense | $ | 31,982 |  |  | $ | 14,483 |  |  | $ | 11,780 |
Schedule of Effective Income Tax Rate Reconciliation | The following table provides a reconciliation of the statutory federal income tax rate to our consolidated effective tax rates:
| 2016 |  | 2015 |  | 2014
Federal income tax expense at statutory rate | 35.0% |  | 35.0% |  | 35.0%
Manufacturing deduction | (3.4) |  | (2.3) |  | (3.5)
State and local income taxes, net of federal tax benefit | 1.6 |  | 1.2 |  | 0.9
Tax credits - research & development | (0.8) |  | (1.1) |  | (1.6)
Tax credits - 48C | — |  | (9.9) |  | —
Nondeductible acquisition costs | — |  | — |  | 0.3
Tax reserve adjustments - statute expirations and benefits recognized | — |  | (0.2) |  | (2.2)
Change in valuation allowance | — |  | 0.1 |  | 0.4
Other, net | 0.5 |  | (0.5) |  | 0.3
Income tax expense | 32.9% |  | 22.3% |  | 29.6%
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and deferred tax liabilities at February 27, 2016 and February 28, 2015 are as follows:
| 2016 |  | 2015
(In thousands) | Current |  | Noncurrent |  | Current |  | Noncurrent
Accounts receivable | $ | 825 |  |  | $ | — |  |  | $ | 1,022 |  |  | $ | — |
Other accruals | 2,968 |  |  | 1,281 |  |  | 2,872 |  |  | 1,212 |
Deferred compensation | 554 |  |  | 12,594 |  |  | 419 |  |  | 11,250 |
Goodwill and other intangibles | 18 |  |  | (7,615 | ) |  | 21 |  |  | (7,994 | )
Depreciation | — |  |  | (17,354 | ) |  | (853 | ) |  | (20,544 | )
Liability for unrecognized tax benefits | — |  |  | 2,797 |  |  | — |  |  | 2,784 |
Net operating losses | — |  |  | 2,945 |  |  | — |  |  | 3,084 |
Valuation allowance on net operating losses | (2,194 | ) |  | (306 | ) |  | (2,149 | ) |  | (442 | )
Other | (351 | ) |  | 686 |  |  | 27 |  |  | (2 | )
Deferred tax assets (liabilities) | $ | 1,820 |  |  | $ | (4,972 | ) |  | $ | 1,359 |  |  | $ | (10,652 | )
Schedule of Unrecognized Tax Benefits Roll Forward | The following table provides a reconciliation of the total amounts of gross unrecognized tax benefits:
(In thousands) | 2016 |  | 2015 |  | 2014
Gross unrecognized tax benefits at beginning of year | $ | 4,491 |  |  | $ | 4,431 |  |  | $ | 5,516 |
Gross increases in tax positions for prior years | 60 |  |  | 261 |  |  | 44 |
Gross decreases in tax positions for prior years | (158 | ) |  | (276 | ) |  | (616 | )
Gross increases based on tax positions related to the current year | 526 |  |  | 508 |  |  | 326 |
Gross decreases based on tax positions related to the current year | (33 | ) |  | (21 | ) |  | (40 | )
Settlements | — |  |  | (93 | ) |  | (84 | )
Statute of limitations expiration | (374 | ) |  | (319 | ) |  | (809 | )
Unrecognized tax benefits acquired | — |  |  | — |  |  | 94 |
Gross unrecognized tax benefits at end of year | $ | 4,512 |  |  | $ | 4,491 |  |  | $ | 4,431 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration