STEELCASE INC, 10-K filed on 4/18/2025
Annual Report
v3.25.1
Cover Page - USD ($)
 12 Months Ended
Feb. 28, 2025
Apr. 15, 2025
Aug. 23, 2024
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2025    
Document Period End Date Feb. 28, 2025    
Document Transition Report false    
Entity File Number 1-13873    
Entity Registrant Name STEELCASE INC    
Entity Central Index Key 0001050825    
Entity Incorporation, State or Country Code MI    
Entity Tax Identification Number 38-0819050    
Entity Address, Address Line One 901 44th Street SE    
Entity Address, City or Town Grand Rapids,    
Entity Address, State or Province MI    
Entity Address, Postal Zip Code 49508    
City Area Code 616    
Local Phone Number 247-2710    
Title of 12(b) Security Class A Common Stock    
Trading Symbol SCS    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Current Fiscal Year End Date --02-28    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 1,223,100,000
Documents Incorporated by Reference Portions of the registrant’s definitive proxy statement for its 2025 Annual Meeting of Shareholders, to be held on July 9, 2025, are incorporated by reference in Part III of this Form 10-K.    
Amendment Flag false    
Auditor Location Grand Rapids, Michigan    
Auditor Firm ID 34    
Auditor Name Deloitte & Touche LLP    
Class A Common Stock [Member]      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   95,323,074  
Class B Common Stock [Member]      
Document Information [Line Items]      
Entity Common Stock, Shares Outstanding   19,317,685  
v3.25.1
Consolidated Statements Of Income - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Revenue $ 3,166.0 $ 3,159.6 $ 3,232.6
Cost of sales 2,109.1 2,142.8 2,310.7
Cost of Sales - Restructuring costs 10.4 4.4 2.5
Gross profit 1,046.5 1,012.4 919.4
Operating expenses 888.0 876.5 837.2
Operating Expenses - Restructuring costs 0.4 18.1 16.7
Operating income 158.1 117.8 65.5
Interest expense (25.7) (25.9) (28.4)
Investment income 13.8 6.5 1.0
Other income (expense), net (12.0) 8.7 13.5
Income before income tax expense 134.2 107.1 51.6
Income tax expense 13.5 26.0 16.3
Net income $ 120.7 $ 81.1 $ 35.3
Earnings per share:      
Basic $ 1.02 $ 0.68 $ 0.30
Diluted $ 1.02 $ 0.68 $ 0.30
Cost of Sales [Member]      
Cost of Sales - Restructuring costs $ 10.4 $ 4.4 $ 2.5
Operating Expense [Member]      
Operating Expenses - Restructuring costs $ 0.4 $ 18.1 $ 16.7
v3.25.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Net income $ 120.7 $ 81.1 $ 35.3
Unrealized gain (loss) on investments 0.6 0.7 (0.5)
Pension and other post-retirement liability adjustments 11.8 (4.5) 5.5
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax 1.3 1.3 1.3
Foreign currency translation adjustments (7.4) 7.5 (26.6)
Total other comprehensive income (loss), gross 6.3 5.0 (20.3)
Unrealized gain (loss) on investments 0.0 (0.2) 0.1
Pension and other post-retirement liability adjustments (2.5) 1.1 (1.4)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax (0.4) (0.3) (0.3)
Total other comprehensive income (loss), tax (expense) benefit (2.9) 0.6 (1.6)
Unrealized gain (loss) on investments 0.6 0.5 (0.4)
Pension and other post-retirement liability adjustments 9.3 (3.4) 4.1
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 0.9 1.0 1.0
Foreign currency translation adjustments (7.4) 7.5 (26.6)
Total other comprehensive income (loss), net 3.4 5.6 (21.9)
Comprehensive income $ 124.1 $ 86.7 $ 13.4
v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Feb. 28, 2025
Feb. 23, 2024
ASSETS    
Cash and cash equivalents $ 346.3 $ 318.6
Short-Term Investments 41.6 0.0
Accounts receivable, net of allowance of $4.7 and $6.2 323.1 338.3
Inventories, net 245.7 231.0
Prepaid expenses 37.5 31.9
Other current assets 34.8 39.6
Total current assets 1,029.0 959.4
Property, plant and equipment, net of accumulated depreciation of $1,132.8 and $1,119.2 328.1 352.9
Company-owned life insurance ("COLI") 170.4 166.9
Deferred income taxes 166.8 115.8
Goodwill 273.5 274.8
Other intangible assets, net of accumulated amortization of $106.3 and $115.0 77.0 94.6
Investments in unconsolidated affiliates 53.3 55.7
Right-of-use operating lease assets 141.2 168.6
Other assets 91.1 48.0
Total assets 2,330.4 2,236.7
LIABILITIES AND SHAREHOLDERS' EQUITY    
Accounts payable 228.2 211.3
Current operating lease obligations 39.7 45.1
Employee compensation 187.3 166.1
Employee benefit plan obligations 49.7 39.9
Accrued promotions 23.5 19.4
Customer deposits 43.0 44.8
Other current liabilities 97.7 80.5
Total current liabilities 669.1 607.1
Long-term liabilities:    
Long-term debt 447.1 446.3
Employee benefit plan obligations 100.7 104.5
Long-term operating lease obligations 113.9 138.6
Other long-term liabilities 47.9 53.1
Total long-term liabilities 709.6 742.5
Total liabilities 1,378.7 1,349.6
Shareholders' equity:    
Additional Paid in Capital 29.3 41.2
Accumulated other comprehensive income (loss) (63.5) (66.9)
Retained Earnings (Accumulated Deficit) 985.9 912.8
Total shareholders’ equity 951.7 887.1
Total liabilities and shareholders’ equity 2,330.4 2,236.7
Preferred Stock [Member]    
Shareholders' equity:    
Preferred stock-no par value; 50,000,000 shares authorized, none issued and outstanding 0.0 0.0
Class A common stock-no par value; 475,000,000 shares authorized, 94,089,913 and 93,935,016 issued and outstanding    
Shareholders' equity:    
Common stock 0.0 0.0
Class B common stock-no par value, convertible into Class A common stock on a one-for-one basis; 475,000,000 shares authorized, 19,643,520 and 20,292,356 issued and outstanding    
Shareholders' equity:    
Common stock $ 0.0 $ 0.0
v3.25.1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Feb. 28, 2025
Feb. 23, 2024
Accounts receivable, allowances $ 4.7 $ 6.2
Property, plant and equipment, accumulated depreciation 1,132.8 1,119.2
Other intangible assets, accumulated amortization $ 106.3 $ 115.0
Preferred stock, par value $ 0 $ 0
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common shares outstanding, end of period 113,733,433 114,227,372
Class A Common Stock [Member]    
Common stock, par value $ 0 $ 0
Common stock, shares authorized 475,000,000 475,000,000
Common stock, shares issued 94,089,913 93,935,016
Common shares outstanding, end of period 94,089,913 93,935,016
Class B Common Stock [Member]    
Common stock, par value $ 0 $ 0
Common stock, shares authorized 475,000,000 475,000,000
Common stock, shares issued 19,643,520 20,292,356
Common shares outstanding, end of period 19,643,520 20,292,356
v3.25.1
Consolidated Statements Of Changes In Shareholders' Equity - USD ($)
$ in Millions
Total
Additional Paid-In Capital [Member]
Retained Earnings [Member]
AOCI, Equity Method Investment, Parent
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Total shareholders’ equity   $ 1.5 [1] $ 901.3 $ (50.6)
Common shares outstanding, beginning of period at Feb. 25, 2022 112,109,294      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issuances 109,090      
Common stock repurchases (352,700)      
Performance and restricted stock units issued as common stock 1,123,037      
Common shares outstanding, end of period at Feb. 24, 2023 112,988,721      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issuances [1]   1.0    
Common stock repurchases [1]   (3.9)    
Other comprehensive income (loss) $ (21.9)      
Accumulated Other Comprehensive Income (Loss), end of period at Feb. 24, 2023 (72.5)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 35.3      
Dividends paid     (57.3)  
Employee Benefits and Share-Based Compensation [1]   20.8    
Total shareholders’ equity $ 826.2 19.4 [1] 879.3 (72.5)
Common stock issuances 131,013      
Common stock repurchases (514,993)      
Performance and restricted stock units issued as common stock 1,622,631      
Common shares outstanding, end of period at Feb. 23, 2024 114,227,372      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issuances [1] $ 1.1      
Common stock repurchases [1]   (4.2)    
Other comprehensive income (loss) 5.6      
Accumulated Other Comprehensive Income (Loss), end of period at Feb. 23, 2024 (66.9)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 81.1      
Dividends paid     (47.6)  
Employee Benefits and Share-Based Compensation [1]   24.9    
Total shareholders’ equity $ 887.1 41.2 [1] 912.8 (66.9)
Common stock issuances 76,477      
Common stock repurchases (2,872,396)      
Performance and restricted stock units issued as common stock 2,301,980      
Common shares outstanding, end of period at Feb. 28, 2025 113,733,433      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Common stock issuances [1]   1.0    
Common stock repurchases [1]   (36.4)    
Other comprehensive income (loss) $ 3.4      
Accumulated Other Comprehensive Income (Loss), end of period at Feb. 28, 2025 (63.5)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income 120.7      
Dividends paid     (47.6)  
Employee Benefits and Share-Based Compensation [1]   23.5    
Total shareholders’ equity $ 951.7 $ 29.3 [1] $ 985.9 $ (63.5)
[1] Shares of our Class A and Class B common stock have no par value; thus, there are no balances for common stock.
v3.25.1
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends paid per share $ 0.4000 $ 0.4000 $ 0.4900
v3.25.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Feb. 25, 2022
OPERATING ACTIVITIES        
Net income $ 120.7 $ 81.1 $ 35.3  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 80.8 83.6 90.0  
Restructuring costs 10.8 22.5 19.2  
Gains on sales of fixed assets, net (41.0) (10.9) (12.9)  
Increase (Decrease) in Income Taxes (56.7) 2.1 (1.0)  
Share-based compensation 24.5 26.0 21.8  
Other 11.2 (17.1) 0.0  
Changes in operating assets and liabilities, net of acquisitions, divestures, and deconsolidations:        
Accounts receivable 11.8 21.7 (43.7)  
Inventories (16.3) 88.3 12.0  
Increase (Decrease) in Cloud computing arrangements expenditures (46.3) (7.9) 0.0  
Income taxes receivable 3.7 (6.2) 36.4  
Other assets (5.2) 0.4 (6.8)  
Accounts payable 17.1 9.9 (39.3)  
Employee compensation liabilities 16.6 31.1 29.4  
Increase (Decrease) in Income Taxes Payable 19.6 (2.3) (2.7)  
Increase (Decrease) in Contract with Customer, Liability (1.4) (4.1) (24.9)  
Accrued expenses and other liabilities (1.4) (9.5) (23.4)  
Net cash provided by operating activities 148.5 308.7 89.4  
INVESTING ACTIVITIES        
Capital expenditures (47.1) (47.1) (59.1)  
Proceeds from disposal of fixed assets 44.4 49.4 9.9  
Payments to Acquire Short-term Investments (48.4) 0.0 0.0  
Proceeds from Sale of Short-Term Investments 7.5 0.0 0.0  
Acquisition, net of cash acquired 0.0 0.0 (105.3)  
Other 8.8 3.8 19.7  
Net cash provided by (used in) investing activities (34.8) 6.1 (134.8)  
FINANCING ACTIVITIES        
Dividends paid (47.6) (47.6) (57.3)  
Common stock repurchases (36.4) (4.2) (3.9)  
Borrowings on global committed bank facility 0.0 69.0 565.2  
Repayments on global committed bank facility 0.0 (69.0) (565.2)  
Repayments on note payable 0.0 (32.2) (2.7)  
Other 0.0 (1.9) 1.0  
Net cash used in financing activities (84.0) (85.9) (62.9)  
Effect of exchange rate changes on cash and cash equivalents (1.8) (0.2) (1.5)  
Net increase (decrease) in cash, cash equivalents and restricted cash 27.9 228.7 (109.8)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 353.8 [1] 325.9 [1],[2] 97.2 [1],[2] $ 207.0 [2]
Restricted Cash 7.5 7.3 6.8 $ 6.1
Supplemental Cash Flow Information:        
Income taxes paid, net of refunds received 47.2 33.1 (16.6)  
Interest paid, net of amounts capitalized $ 23.1 $ 24.0 $ 26.2  
[1] These amounts include restricted cash of $7.5, $7.3 and $6.8 as of February 28, 2025, February 23, 2024 and February 24, 2023, respectively.
[2] These amounts include restricted cash of $7.3, $6.8 and $6.1 as of February 23, 2024, February 24, 2023 and February 25, 2022, respectively.
v3.25.1
Nature Of Operations
 12 Months Ended
Feb. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature Of Operations NATURE OF OPERATIONS
Steelcase is a global leader in furnishing the work experience in office workplaces. Founded in 1912, we are headquartered in Grand Rapids, Michigan, U.S.A. and employ approximately 11,300 employees. We operate manufacturing and distribution center facilities in 22 principal locations. We distribute products through various channels, including Steelcase independent and company-owned dealers in approximately 790 locations throughout the world. We operate under the Americas and International reportable segments. See Note 20 for additional information related to our reportable segments.
v3.25.1
Accounting Policies
 12 Months Ended
Feb. 28, 2025
Accounting Policies [Abstract]  
Summary Of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation
The consolidated financial statements include the accounts of Steelcase Inc. and its subsidiaries. We consolidate entities in which we maintain a controlling interest. All intercompany transactions and balances have been eliminated in consolidation. We also consolidate variable interest entities when appropriate.
Investments in entities where our equity ownership falls between 20% and 50%, or where we otherwise have significant influence, are accounted for under the equity method of accounting. All other investments in unconsolidated affiliates are accounted for under the cost method of accounting. These investments are reported as Investments in unconsolidated affiliates on the Consolidated Balance Sheets, and income (losses) from equity method investments and any adjustments to cost method investments are reported in Other income (expense), net in the Consolidated Statements of Income. See Note 12 for additional information.
Fiscal Year
Our fiscal year ends on the last Friday in February, with each fiscal quarter typically including 13 weeks. The fiscal year ended February 28, 2025 contained 53 weeks, with Q4 2025 containing 14 weeks. The fiscal years ended February 23, 2024 and February 24, 2023 contained 52 weeks. Reference to a year relates to the fiscal year, ended in February of the year indicated, rather than the calendar year, unless indicated by a month or specific date reference. Additionally, Q1, Q2, Q3 and Q4 reference the first, second, third and fourth quarter, respectively, of the fiscal year indicated. All amounts are in millions, except share and per share data, data presented as a percentage or as otherwise indicated.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts and disclosures in the consolidated financial statements and accompanying notes. Although these estimates are based on historical data and management’s knowledge of current events and actions we may undertake in the future, actual results may differ from these estimates under different assumptions or conditions.
Cash and Cash Equivalents
Cash and cash equivalents include demand bank deposits and highly liquid investment securities with an original maturity of three months or less. Cash equivalents are reported at cost and approximate fair value. Outstanding checks in excess of funds on deposit are classified as Accounts payable on the Consolidated Balance Sheets. Our restricted cash balance as of February 28, 2025 and February 23, 2024 was $7.5 and $7.3, respectively, and consisted primarily of funds held in escrow for potential future workers’ compensation and product liability claims. Our restricted cash balance is classified in Other assets on the Consolidated Balance Sheets.
Allowances for Credit Losses
Allowances for credit losses related to accounts receivable and notes receivable are maintained at a level considered by management to be adequate to absorb an estimate of probable future losses existing at the balance sheet date. In estimating probable losses, we review accounts that are past due or in bankruptcy. We consider an accounts receivable or notes receivable balance past due when payment is not received within the stated terms. We review accounts that may have higher credit risk using information available about the debtor, such as financial statements, news reports and published credit ratings. We also use general information regarding industry trends, the economic environment and information gathered through our network of field-based employees. Using an estimate of current fair market value of any applicable collateral and other credit enhancements, such as third party guarantees, we arrive at an estimated loss for specific concerns and estimate an additional amount for the remainder of trade balances based on historical trends and other factors previously referenced. Receivable balances are written off when we determine the balance is uncollectible. Subsequent recoveries, if any, are credited to bad debt expense when received.
Concentrations of Credit Risk
Our trade receivables are due from independent dealers as well as direct customers. We monitor and manage the credit risk associated with individual dealers and direct customers. Dealers are responsible for assessing and assuming credit risk of their customers and may require their customers to provide deposits, letters of credit or other credit enhancement measures. Some sales contracts are structured such that the customer payment or obligation is direct to us. In those cases, we typically assume the credit risk. Whether from dealers or direct customers, our trade credit exposures are not concentrated with any particular entity or industry.
Inventories
Inventories are stated at the lower of cost or net realizable value. The Americas segment primarily uses the last in, first out (“LIFO”) and the first in, first out ("FIFO") methods to value its inventories. The International segment values inventories primarily using FIFO. See Note 8 for additional information.
Property, Plant and Equipment
Property, plant and equipment are stated at cost. Major improvements that materially extend the useful lives of the assets are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. See Note 9 for additional information.
Long-lived assets such as property, plant and equipment are tested for impairment when conditions indicate that the carrying value may not be recoverable. We evaluate several conditions, including, but not limited to, the following: a significant decrease in the market price of an asset or an asset group; a significant adverse change in the extent or manner in which a long-lived asset is being used, including an extended period of idleness; and a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. We review the carrying value of our held and used long-lived assets utilizing estimates of future undiscounted cash flows. If the carrying value of a long-lived asset is considered impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its estimated fair value.
When assets are classified as “held for sale,” losses are recorded for the difference between the carrying amount of the property, plant and equipment and the estimated fair value less estimated selling costs. Assets are considered “held for sale” when there is an active program to locate a buyer, and the asset is available for immediate sale in its present condition and is expected to be sold within twelve months.
Cloud Computing Arrangements
We capitalize implementation costs of a cloud computing arrangement with a useful life greater than one year consistent with the capitalization criteria used for internal-use software. Costs incurred during the application-development phase, subject to certain exceptions, are capitalized after the preliminary project phase is completed and management commits to funding the project. Capitalized costs include fees paid to consultants to implement the software, payroll and payroll-related costs of employees to the extent of the time spent directly on the project and interest costs, if appropriate. Capitalized costs are recorded to Prepaid expenses and Other assets on the Consolidated Balance Sheets and within Net cash provided by operating activities on the Consolidated Statements of Cash Flows.
Capitalization of costs ceases at the point when the software associated with the cloud computing arrangement is ready for its intended use. Subsequent enhancements or upgrades are capitalized only to the extent that they add significant new functionality, and maintenance costs are expensed as incurred. Amortization of capitalized costs is recorded over the initial term of the related cloud computing arrangement, including renewal periods that are reasonably certain to be exercised.
In Q3 2024, we entered the application-development phase of a multi-year, phased implementation of a new enterprise resource planning ("ERP") system which is expected to replace our current ERP system and various other supporting systems for operating and financial processes. As of February 28, 2025, we have capitalized $59.1 of costs related to development activities incurred in the implementation of the new ERP system. Capitalized costs associated with other cloud computing arrangements were immaterial as of February 28, 2025 and February 23, 2024.
Goodwill and Other Intangible Assets
Goodwill represents the difference between the purchase price and the related underlying tangible and identifiable intangible net asset fair values resulting from business acquisitions. We evaluate goodwill for impairment annually in Q4, or earlier if conditions indicate there may be potential for impairment, such as significant adverse changes in business climate or operating results, changes in our strategy, significant declines in our stock price or other triggering events. Goodwill is assigned to and the fair value is tested at the reporting unit level. We compare the fair value of each reporting unit to its carrying value. If the fair value of the reporting unit exceeds the carrying value, goodwill is not impaired, and no further testing is required. If the fair value of the reporting unit is less than the carrying value, the difference is recorded as an impairment charge. We estimate the fair value of our reporting units using the income approach, which calculates the fair value of each reporting unit based on the present value of its estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rates used are based on the estimated weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the reporting units' ability to execute on the projected cash flows. We corroborate the results determined using the income approach with a market-based approach that uses observable and comparable company information to support the appropriateness of the fair value estimates. The estimation of the fair value of our reporting units represents a Level 3 measurement.
In 2025 and 2024, we evaluated goodwill and intangible assets using nine reporting units: the Americas, EMEA, Asia Pacific, Designtex, AMQ, Smith System, Orangebox U.K., Viccarbe and HALCON. See Note 11 for additional information.
Other intangible assets subject to amortization consist primarily of dealer relationships, trademarks, know-how/designs and proprietary technology and are amortized over their estimated useful economic lives using the straight-line method. Other intangible assets not subject to amortization are accounted for and evaluated for potential impairment using an income approach based on the cash flows attributable to the related products. See Note 11 for additional information.
Supplier Finance Program
We participate in a supplier finance program in Spain offered by a third-party financial institution. The program allows participating suppliers the ability to finance our payment obligations prior to their scheduled due dates at a discounted price set by the financial institution. We have extended payment terms with suppliers that have voluntarily chosen to participate in the program. The outstanding amount of program obligations is reported in Accounts payable on the Consolidated Balance Sheets.
Below is a roll-forward of the supplier finance program obligations during 2025:
Roll-Forward of Outstanding Supplier Finance Program Obligations
Year EndedYear Ended
February 28, 2025February 23, 2024
Balance as of beginning of period$0.1 $0.5 
Recognition of new obligations5.1 8.0 
Reductions for settled obligations(4.6)(8.4)
Balance as of end of period$0.6 $0.1 
Contingencies
Loss contingencies are accrued if the loss is probable and the amount of the loss can be reasonably estimated. Legal costs associated with potential loss contingencies are expensed as incurred. We are involved in litigation from time to time in the ordinary course of our business. Based on known information, we do not believe we are party to any lawsuit or proceeding, individually and in the aggregate, that is likely to have a material adverse impact on the consolidated financial statements.
Self-Insurance
We are self-insured for certain losses relating to domestic workers’ compensation and product liability claims. We purchase insurance coverage to reduce our exposure to significant levels of uncertainty for these claims. Self-insured losses are accrued based upon estimates of the aggregate liability for uninsured claims incurred as of the balance sheet date using current and historical claims experience and actuarial assumptions. These estimates are subject to uncertainty due to a variety of factors, including extended lag times in the reporting and resolution of claims, trends or changes in claim settlement patterns, insurance industry practices and legal interpretations. As a result, actual costs could differ from the estimated amounts. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs.
Net Reserve for Estimated Domestic Workers' Compensation ClaimsYear Ended
February 28, 2025February 23, 2024
Assets:
Long-term - Other assets
$1.6 $1.7 
Liabilities:
Current - Other current liabilities
1.7 1.3 
Long-term - Other long-term liabilities
4.2 5.2 
5.9 6.5 
Net reserve$4.3 $4.8 
The Other assets balance represents the portion of claims expected to be paid by a third party insurance provider.
Net Reserve for Estimated Product Liability ClaimsYear Ended
February 28, 2025February 23, 2024
Assets:
Long-term - Other assets
$0.2 $0.3 
Liabilities:
Current - Other current liabilities
0.2 0.2 
Long-term - Other long-term liabilities
0.8 1.0 
1.0 1.2 
Net reserve$0.8 $0.9 
The Other assets balance represents the portion of claims expected to be paid by a third party insurance provider.
Product Warranties
We offer warranties ranging from three years to lifetime for most of our products, subject to certain exceptions. These warranties provide for the free repair or replacement of any covered product, part or component that fails during normal use because of a defect in materials or workmanship. The accrued liability for product warranties is based on an estimated amount needed to cover product warranty costs, including product recall and retrofit costs, incurred as of the balance sheet date.
We use an actuarial model to estimate our product warranty liability using actual paid claims over at least ten years and other actuarial assumptions, which provide a basis for expected future losses using actuarial assumptions.
These estimates are subject to uncertainty due to a variety of factors, including changes in claim rates and patterns. As a result, actual costs could differ significantly from the estimated amounts. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs. Accruals related to product warranties, recalls, retrofits and changes in claims experience or trends that impact our estimated product warranty liability are recorded to Cost of sales.
Roll-Forward of Accrued Liability for Product WarrantiesYear Ended
February 28,
2025		February 23,
2024
Balance as of beginning of period$33.7 $28.6 
Accruals related to product warranties, recalls and retrofits23.3 28.5 
Reductions for settlements(24.4)(23.5)
Currency translation adjustments(0.1)0.1 
Balance as of end of period$32.5 $33.7 
Our reserve for estimated settlements expected to be paid beyond one year was $17.3 as of February 28, 2025 and February 23, 2024 and is included in Other long-term liabilities on the Consolidated Balance Sheets.
Pension and Other Post-Retirement Benefits
We sponsor a number of domestic and foreign plans to provide pension benefits and medical and life insurance benefits to retired employees. We measure the net over-funded or under-funded positions of our defined benefit pension plans and post-retirement benefit plans as of the end of each fiscal year and display that position as an asset or liability on the Consolidated Balance Sheets. Any unrecognized prior service credit (cost) or actuarial gains (losses) are reported, net of tax, as a component of Accumulated other comprehensive income (loss) in shareholders’ equity. See Note 14 for additional information.
Environmental Matters
Environmental expenditures related to current operations are expensed as incurred. Expenditures related to an existing condition allegedly caused by past operations, and not associated with current or future revenue generation, are typically recognized upon completion of a feasibility study or our commitment to a formal plan of action. Liabilities are recorded on a discounted basis when site-specific plans indicate the amount and timing of cash payments which are fixed and reliably determinable. We have ongoing monitoring and identification processes to assess how known exposures are progressing against the accrued cost estimates, as well as processes to identify other potential exposures.
Environmental ContingenciesYear Ended
February 28, 2025February 23, 2024
Current - Other current liabilities
$1.8 $0.6 
Long-term - Other long-term liabilities
3.1 2.3 
Total environmental contingencies (discounted)$4.9 $2.9 
As of February 28, 2025 and February 23, 2024, environmental liabilities were discounted using a rate of 3.5% when the amount and timing of cash payments are fixed and reliably determinable, and our undiscounted liabilities were $4.9 and $3.1, respectively. Based on our ongoing evaluation of these matters, we believe we have accrued sufficient reserves to cover the costs of all known environmental assessments and the remediation costs of all known sites.
Asset Retirement Obligations
We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated. We also have known conditional asset retirement obligations that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the consolidated financial statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations we have not yet discovered, and therefore, these obligations also have not been included in the consolidated financial statements.
Revenue Recognition
Our revenue consists substantially of product sales and related service revenue. Product sales are reported net of discounts and are recognized when control, consisting of the rights and obligations associated with the sale, passes to the purchaser. For sales to our dealers, this typically occurs when product is shipped from our manufacturing or distribution facilities. In cases where we sell directly to customers, control is typically transferred upon delivery to the customer and, in some cases, following installation and acceptance by the customer. Service revenue is recognized when the services have been rendered. We account for shipping and handling activities as fulfillment activities even if those activities are performed after the control of the product has been transferred. We expense shipping and handling costs at the time revenue is recognized. Revenue does not include sales tax or any other taxes assessed by a governmental authority that are imposed on and concurrent with a specific sale, such as use, excise, value-added and franchise taxes (collectively referred to as "consumption taxes"). We consider ourselves a pass-through entity for collecting and remitting these consumption taxes.
Cost of Sales
Cost of sales includes material, labor, freight and overhead incurred directly related to the procurement, manufacturing and delivery of our products. Included within these categories are such items as employee compensation expense, logistics costs (including shipping and handling costs), facilities expense, depreciation, contract labor costs and warranty expense.
Operating Expenses
Operating expenses include selling, general and administrative expenses not directly related to the procurement, manufacturing and delivery of our products. Included in these expenses are items such as employee compensation expense, facilities expense, depreciation, research and development expense, royalty expense, information technology services, professional services and travel and entertainment expense.
Research and Development Expenses
Research and development expenses, which we define as expenses related to the investigative activities we conduct to lead to the development of new products and to improve existing products and procedures, are expensed as incurred and were $50.4 for 2025, $48.2 for 2024 and $44.4 for 2023.
Income Taxes
Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the carrying amounts of existing assets and liabilities recorded in the consolidated financial statements and their respective tax bases. These deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. The effect of a change in tax rates on deferred income tax assets and liabilities is recognized in the Consolidated Statements of Income in the period that includes the enactment date.
We establish valuation allowances against deferred tax assets when it is more likely than not that all or a portion of the deferred tax assets will not be realized. All evidence, both positive and negative, is identified and considered in making the determination. Future realization of the existing deferred tax asset depends, in part, on the existence of sufficient taxable income of appropriate character within the carryforward period available under tax law applicable in the jurisdiction in which the related deferred tax assets were generated.
We have net operating loss carryforwards available in certain jurisdictions to reduce future taxable income. Future tax benefits associated with net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. This determination is based on the expectation that related operations will be sufficiently profitable or various tax, business and other planning strategies will enable us to utilize the net operating loss carryforwards within the carryforward period. In making this determination, we consider all available positive and negative evidence. To the extent that available evidence raises doubt about the realization of a deferred income tax asset, a valuation allowance is established.
We record reserves for uncertain tax positions except to the extent it is more likely than not that the tax position will be sustained on audit, based on the technical merits of the position. Periodic changes in reserves for uncertain tax positions are reflected in the provision for income taxes. See Note 16 for additional information.
Share-Based Compensation
Our share-based compensation consists of restricted stock units and performance units. Our policy is to expense share-based compensation using the fair-value based method of accounting for all awards granted, modified or settled. Restricted stock units and performance units are credited to shareholders' equity as they are expensed over the related service periods based on the grant date fair value of the shares expected to be issued and the achievement of certain performance conditions, respectively. See Note 17 for additional information.
Leases
We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment. We record a right-of-use asset and corresponding lease liability for operating leases with terms greater than one year. Lease terms utilized in determining right-of-use assets and lease liabilities include the noncancellable portion of the underlying leases along with any reasonably certain lease periods associated with available renewal periods. Our leases do not contain any residual value guarantees or material restrictive covenants. As most of our leases do not provide an implicit discount rate, we use an estimated incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The estimated incremental borrowing rate represents the estimated rate of interest we would have had to pay to borrow (on a collateralized basis) an amount equal to the lease payments for a similar period of time.
We do not separate non-lease components of a contract from the lease components to which they relate for all classes of lease assets except for embedded leases, which were immaterial in 2025. See Note 18 for additional information.
Financial Instruments
The carrying amounts of our financial instruments, consisting of cash and cash equivalents, accounts and notes receivable, accounts payable and certain other liabilities, approximate their fair value due to their relatively short maturities. Our short-term investments, long-term investment, foreign exchange forward contracts and contingent earnout liability are measured at fair value on the Consolidated Balance Sheets. Our total debt is carried at cost and was $447.1 and $446.3 as of February 28, 2025 and February 23, 2024, respectively. The fair value of our total debt is measured using a discounted cash flow analysis based on current market interest rates for similar types of instruments and was approximately $432.8 and $423.0 as of February 28, 2025 and February 23, 2024, respectively. The estimation of the fair value of our total debt is based on Level 2 fair value measurements. See Note 7 and Note 13 for additional information.
We may use derivative financial instruments to manage exposures to movements in interest rates and foreign exchange rates. The use of these financial instruments modifies the exposure of these risks with the intention to reduce our risk of volatility. We do not use derivatives for speculative or trading purposes.
We evaluate contractual obligations to transfer additional cash to the sellers of companies we acquire as either a compensation arrangement or contingent consideration. We evaluate these obligations based on the terms and duration of continuing employment of the sellers post-acquisition, the linkage to the underlying valuation of the acquired company and the obligations taken in the context of other contracts or agreements. Compensation arrangements are recorded in Operating expenses as services are rendered post-acquisition. Contingent consideration obligations are recorded at fair value as of the acquisition dates. At each subsequent reporting date, changes in the fair value of the liabilities are recorded to Operating expenses until the liabilities are settled. See Note 7 for additional information.
Foreign Currency
For most foreign operations, local currencies are considered the functional currencies. We translate assets and liabilities of our foreign subsidiaries to their U.S. dollar equivalents at exchange rates in effect as of the balance sheet date. Translation adjustments are not included in determining net income but are recorded in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets unless and until a sale or a substantially complete liquidation of the net investment in the international subsidiary takes place. We translate Consolidated Statements of Income accounts at average exchange rates for the applicable period.
Foreign currency transaction gains and losses, net of derivative impacts, arising primarily from changes in exchange rates on foreign currency denominated intercompany loans and other intercompany transactions and balances between foreign locations, are recorded in Other income (expense), net in the Consolidated Statements of Income.
Foreign Exchange Forward Contracts
A portion of our revenue and earnings is exposed to changes in foreign exchange rates. We seek to manage our foreign exchange risk largely through operational means, including matching revenues with same currency costs and assets with same currency liabilities. Foreign exchange risk is also partially managed through the use of derivative instruments. Foreign exchange forward contracts serve to reduce the risk of conversion or remeasurement of certain foreign denominated transactions, assets and liabilities. We primarily use derivatives for intercompany transactions (including loans) and certain forecasted currency flows from foreign-denominated transactions. The foreign exchange forward contracts primarily relate to the Mexican peso, the euro, the United Kingdom ("U.K.") pound sterling, the Canadian dollar, the Australian dollar, the Malaysian ringgit and the Chinese renminbi. See Note 7 for additional information.
Assets and liabilities related to foreign exchange forward contracts as of February 28, 2025 and February 23, 2024 are summarized below:
Net Fair Value of Foreign Exchange Forward ContractsFebruary 28,
2025		February 23,
2024
Assets:
Current - Other current assets
$0.8 $0.7 
Long-term - Other assets
— 0.1 
Liabilities:
Current - Other current liabilities
(1.4)(0.5)
Total net fair value of foreign exchange forward contracts (1)$(0.6)$0.3 
________________________
(1)The notional amounts of the outstanding foreign exchange forward contracts were $90.7 as of February 28, 2025 and $94.0 as of February 23, 2024.
Net gains (losses) recognized from settled foreign exchange forward contracts in 2025, 2024 and 2023 are summarized below:
Gain (Loss) Recognized in Consolidated Statements of IncomeYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Cost of sales$(2.2)$3.4 $2.6 
Operating expenses(0.5)0.9 0.6 
Other income (expense), net0.7 (0.5)(1.1)
Total net gain (loss)$(2.0)$3.8 $2.1 
The net gains or losses recognized from foreign exchange forward instruments in Other income (expense), net are largely offset by related foreign currency gains or losses on our intercompany loans and intercompany accounts payable.
v3.25.1
Accounting Changes and Error Corrections
 12 Months Ended
Feb. 28, 2025
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] NEW ACCOUNTING STANDARDS
We evaluate all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability to our consolidated financial statements. We have assessed all ASUs issued but not yet adopted and concluded that those not disclosed are either not applicable to us or are not expected to have a material effect on our consolidated financial statements.
Adoption of New Accounting Standards
In 2025, we adopted ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures, which is intended to improve disclosures related to significant segment expenses and the information used by the chief operating decision maker ("CODM") to assess segment performance and to allocate resources. We adopted this guidance on a retrospective basis, which modified our annual disclosures beginning in 2025 but did not have a material effect on our consolidated financial statements. See Note 20 to the consolidated financial statements for additional information.
Accounting Standards Issued But Not Yet Adopted
In November 2024, the FASB issued ASU No. 2024-03, Income Statement (Subtopic 220-40) - Reporting Comprehensive Income - Expense Disaggregation Disclosures, which is intended to improve disclosures through disaggregation of certain commonly presented expense captions. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, which was clarified in ASU 2025-01. We expect the adoption of this guidance will modify our disclosures, but we do not expect it to have a material effect on our consolidated financial statements.
In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which is intended to improve income tax disclosures, specifically related to additional detail required in the effective tax rate reconciliation and the disaggregation of income taxes paid. The guidance is effective for fiscal years beginning after December 15, 2024. We expect the adoption of this guidance will modify our disclosures, but we do not expect it to have a material effect on our consolidated financial statements.
v3.25.1
Revenue from Contract with Customer
 12 Months Ended
Feb. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
Disaggregation of Revenue
The following table provides information about disaggregated revenue by product category for each of our reportable segments:
Product Category DataYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Americas
Desking, benching, systems and storage$1,108.3 $1,059.4 $1,089.7 
Seating662.5 643.6 692.4 
Other (1)694.4 716.8 654.1 
International
Desking, benching, systems and storage232.6 255.6 262.5 
Seating272.0 261.8 290.0 
Other (1)196.2 222.4 243.9 
$3,166.0 $3,159.6 $3,232.6 
_______________________________________
(1)The other product category data by segment consists primarily of third-party products, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories.
Reportable geographic information is as follows:
Reportable Geographic RevenueYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
United States$2,292.2 $2,249.0 $2,258.7 
Foreign locations873.8 910.6 973.9 
$3,166.0 $3,159.6 $3,232.6 
No individual country in the International segment represented more than 5% of our consolidated revenue in 2025, 2024 or 2023.
No single customer represented more than 5% of our consolidated revenue in 2025, 2024 or 2023.
Contract Balances
At times, we receive payments from customers before revenue is recognized, resulting in the recognition of a contract liability (Customer deposits) presented on the Consolidated Balance Sheets.
Below is a roll-forward of the Customer deposits balance during 2025 and 2024:
Roll-Forward of Contract Liability for Customer Deposits
Customer Deposits
Balance as of February 24, 2023$50.8 
Recognition of revenue related to beginning of year customer deposits(48.3)
Customer deposits received, net of revenue recognized during the period44.3 
Other (1)(2.0)
Balance as of February 23, 2024$44.8 
Recognition of revenue related to beginning of year customer deposits(41.8)
Customer deposits received, net of revenue recognized during the period40.0 
Balance as of February 28, 2025$43.0 
_______________________________________
(1)Represents customer deposits transferred in the divestiture of a consolidated dealer. 		[1]
[1] Represents customer deposits transferred in the divestiture of a consolidated dealer.
v3.25.1
Earnings Per Share
 12 Months Ended
Feb. 28, 2025
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Earnings per share is computed using the two-class method. The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent restricted stock units in which the participants have non-forfeitable rights to dividend equivalents during the performance period. Diluted earnings per share includes the effects of certain performance units in which the participants have forfeitable rights to dividend equivalents during the performance period.
Computation of Earnings Per Share
Year Ended February 28, 2025
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$120.7 117.9 118.9 
Impact of participating securities (4.0)(3.9)(3.9)
Amounts used in calculating earnings per share, excluding participating securities$116.7 114.0 115.0 
Earnings per share$1.02 $1.02 
Computation of Earnings Per Share
Year Ended February 23, 2024
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$81.1 118.6 119.1 
Impact of participating securities (3.1)(4.6)(4.6)
Amounts used in calculating earnings per share, excluding participating securities$78.0 114.0 114.5 
Earnings per share$0.68 $0.68 
Computation of Earnings Per Share
Year Ended February 24, 2023
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$35.3 117.1 117.5 
Impact of participating securities (1.3)(4.3)(4.3)
Amounts used in calculating earnings per share, excluding participating securities$34.0 112.8 113.2 
Earnings per share$0.30 $0.30 
There were no anti-dilutive performance units excluded from the computation of diluted earnings per share for 2025, 2024 and 2023.
v3.25.1
Equity
 12 Months Ended
Feb. 28, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table summarizes the changes in accumulated balances of other comprehensive income (loss) during 2025 and 2024:    
Unrealized gain (loss) on investmentPension and other post-retirement liability adjustmentsDerivative amortizationForeign currency translation adjustmentsTotal
Balance as of February 24, 2023$(0.1)$9.3 $(5.7)$(76.0)$(72.5)
Other comprehensive income (loss) before reclassifications0.5 (1.7)— 7.5 6.3 
Amounts reclassified from accumulated other comprehensive income (loss)— (1.7)1.0 — (0.7)
Net other comprehensive income (loss) during period0.5 (3.4)1.0 7.5 5.6 
Balance as of February 23, 2024$0.4 $5.9 $(4.7)$(68.5)$(66.9)
Other comprehensive income (loss) before reclassifications0.6 (1.0)— (7.4)(7.8)
Amounts reclassified from accumulated other comprehensive income (loss) (1)— 10.3 0.9 — 11.2 
Net other comprehensive income (loss) during period0.6 9.3 0.9 (7.4)3.4 
Balance as of February 28, 2025$1.0 $15.2 $(3.8)$(75.9)$(63.5)
________________________
(1)Pension and other post-retirement liability adjustments include an $11.8 settlement charge, net of tax, related to the annuitization of our defined benefit pension plan in the U.K. See Note 14 to the consolidated financial statements for additional information.
The following table provides details about reclassifications out of accumulated other comprehensive income (loss) during 2025 and 2024:
Detail of Accumulated Other Comprehensive
 Income (Loss) Components		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line in the Consolidated Statements of Income
Year Ended
February 28,
2025		February 23,
2024
Amortization of pension and other post-retirement actuarial losses (gains) (1)$12.4 $(2.3)Other income (expense), net
Prior service cost0.8 — Other income (expense), net
Income tax expense (benefit) (1)(2.9)0.6 Income tax expense
10.3 (1.7)
Derivative amortization1.3 1.3 Interest expense
Income tax benefit(0.4)(0.3)Income tax expense
0.9 1.0 
Total reclassifications$11.2 $(0.7)
________________________
(1)Amortization of pension and other post-retirement actuarial losses (gains) includes a $15.2 non-cash pension settlement charge in Other income (expense), net and a $3.4 discrete tax benefit in Income tax expense related to the annuitization of our U.K. defined benefit pension plan. See Note 14 to the consolidated financial statements for additional information.
v3.25.1
Fair Value Measures and Disclosures
 12 Months Ended
Feb. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block] FAIR VALUE
Fair value measurements are classified under the following hierarchy:
•Level 1 — Inputs based on quoted market prices for identical assets or liabilities in active markets at the measurement date.
•Level 2 — Inputs based on quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets.
•Level 3 — Inputs reflect management’s best estimate of what market participants would use to price the asset or liability at the measurement date in model-driven valuations. The inputs are unobservable in the market and significant to the instrument’s valuation.
Fair value measurements are classified according to the lowest level input or value-driver that is significant to the valuation. A measurement may therefore be classified within Level 3 even though there may be other significant inputs that are readily observable.
Assets and liabilities measured at fair value within our Consolidated Balance Sheets as of February 28, 2025 and February 23, 2024 are summarized below:
Fair Value of Financial InstrumentsFebruary 28, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents$346.3 $— $— $346.3 
Restricted cash7.5 — — 7.5 
Managed investment portfolio and other investments
Corporate debt securities - domestic— 18.0 — 18.0 
Corporate debt securities - foreign— 5.7 — 5.7 
Asset-backed securities— 8.6 — 8.6 
U.S. government debt securities9.3 — — 9.3 
Foreign exchange forward contracts— 0.8 — 0.8 
Auction rate security— — 2.8 2.8 
$363.1 $33.1 $2.8 $399.0 
Liabilities:
Foreign exchange forward contracts$— $(1.4)$— $(1.4)
$— $(1.4)$— $(1.4)
Fair Value of Financial InstrumentsFebruary 23, 2024
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents$318.6 $— $— $318.6 
Restricted cash7.3 — — 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)
$— $(0.5)$— $(0.5)
Managed Investment Portfolio and Other Investments
Starting in 2025, we invested in a managed investment portfolio which consists of corporate debt securities, asset-backed securities and U.S. government debt securities. These investments are considered available-for-sale and are classified as Short-term investments on the Consolidated Balance Sheets. As of February 28, 2025, the fair value of our Short-term investments was $41.6. We have instructed our investment manager to operate under a mandate to keep the average duration of investments under two years. Fair values for these investments are based upon valuations for identical or similar instruments in active markets, with the resulting net unrealized holding gains or losses reflected net of tax as a component of Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. The cost basis for these investments, determined using the specific identification method, was $41.0 and unrealized gains were $0.6 as of February 28, 2025. Of our total short-term investments, $7.7 mature within one year and $33.9 mature after one year to five years.
Foreign Exchange Forward Contracts
We occasionally enter into forward contracts to reduce the impact of foreign currency fluctuations on foreign-denominated transactions, assets and liabilities. We primarily use derivatives for intercompany transactions (including loans) and certain forecasted currency flows from foreign-denominated transactions. The fair value of foreign exchange forward contracts is based on a valuation model that calculates the differential between the contract price and the market-based forward rate as of the balance sheet date.
Level 3 Fair Value Measurements
Below is a roll-forward of assets and liabilities measured at estimated fair value using Level 3 inputs during 2025 and 2024:
Roll-Forward of Fair Value Using Level 3 Inputs
Auction Rate
Security - Other Assets
Contingent Consideration - Other Long-Term Liabilities
Balance as of February 24, 2023$2.1 $9.5 
Unrealized gain (loss) on investments0.7 — 
Change in estimated fair value— (9.5)
Balance as of February 23, 2024$2.8 $— 
Unrealized gain (loss) on investment— — 
Change in estimated fair value— — 
Balance as of February 28, 2025$2.8 $— 
There were no other-than-temporary impairments or transfers into or out of Level 3 during either 2025 or 2024. Our policy is to value any transfers between levels of the fair value hierarchy based on end of period fair values.
Auction Rate Security
As of February 28, 2025, we held an auction rate security (“ARS”) investment with a total par value of $3.2 and a fair value of $2.8. The difference between par value and fair value is comprised of other-than-temporary impairment losses recorded in previous fiscal years and unrealized gains on our ARS investment of $0.9 and $0.5, respectively. The unrealized gains are due to changes in interest rates and are expected to fluctuate over the contractual term of the investment. Unrealized gains and losses are recorded in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets.
The ARS investment is not widely traded and therefore does not currently have a readily determinable market value. To estimate fair value, we used an internally-developed discounted cash flow analysis which considers, amongst other factors: (i) the credit ratings of the ARS, (ii) the credit quality of the underlying securities or the credit ratings of issuers, (iii) the estimated timing and amount of cash flows, (iv) the formula applicable to the security which defines the penalty interest rate and (v) discount rates equal to the sum of (a) the yield on U.S. Treasury securities with a term through the estimated workout date plus (b) a risk premium based on similarly rated observable securities.
A deterioration in market conditions or the use of different assumptions could result in a different valuation of the investment. An increase to the discount rate of 100 basis points would reduce the estimated fair value of our ARS investment by approximately $0.3.
Contingent Consideration
In connection with the acquisition of Viccarbe Habitat, S.L ("Viccarbe") in Q3 2022, up to an additional $13.6 (or €13.0) was payable to the sellers based upon the achievement of certain revenue and operating income targets over a three-year period which ended in 2025. This amount was considered to be contingent consideration and was treated for accounting purposes as part of the total purchase price of the acquisition. We used the Monte Carlo simulation model to calculate the fair value of the contingent consideration as of the acquisition date, which represents a Level 3 measurement. At each subsequent reporting date, changes in the fair value of the liability are recorded to Operating expenses until the liability is settled. As of February 28, 2025 and February 23, 2024, the fair value of the contingent consideration was $0.0 based upon the results of the Viccarbe business over the earnout period.
v3.25.1
Inventories
 12 Months Ended
Feb. 28, 2025
Inventory Disclosure [Abstract]  
Inventories INVENTORIES
Inventories, net
February 28,
2025		February 23,
2024
Raw materials and work-in-process$166.8 $164.5 
Finished goods108.1 95.9 
274.9 260.4 
Revaluation to LIFO(29.2)(29.4)
$245.7 $231.0 
The portion of inventories determined by the LIFO method aggregated to $118.2 and $111.7 as of February 28, 2025 and February 23, 2024, respectively.
v3.25.1
Property, Plant And Equipment
 12 Months Ended
Feb. 28, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant And Equipment PROPERTY, PLANT AND EQUIPMENT
Property, Plant and EquipmentEstimated
Useful Lives
(Years)		February 28,
2025		February 23,
2024
Land$31.1 $33.8 
Machinery and equipment3 – 15744.4 759.0 
Buildings and improvements10 – 40414.9 413.4 
Leasehold improvements3 – 1590.2 86.9 
Capitalized software3 – 1082.5 83.3 
Furniture and fixtures5 – 868.1 65.5 
Construction in progress29.7 30.2 
1,460.9 1,472.1 
Accumulated depreciation(1,132.8)(1,119.2)
$328.1 $352.9 
The majority of the net book value of our property, plant and equipment relates to machinery and equipment and buildings and improvements. As of February 28, 2025 and February 23, 2024, the net book value of our machinery and equipment totaled $132.4 and $141.6, respectively, and buildings and improvements totaled $86.8 and $92.1, respectively. Depreciation expense on property, plant and equipment was $63.3, $66.0 and $67.0 for 2025, 2024 and 2023, respectively. We recorded net gains on the sales of property, plant and equipment of $41.0, $10.9 and $12.9 for 2025, 2024 and 2023, respectively, which were included in Operating expenses in the Consolidated Statements of Income. The estimated cost to complete construction in progress was $32.6 and $32.2 as of February 28, 2025 and February 23, 2024, respectively.
v3.25.1
Company-Owned Life Insurance
 12 Months Ended
Feb. 28, 2025
Company-Owned Life Insurance [Abstract]  
Company-Owned Life Insurance COMPANY-OWNED LIFE INSURANCE
Our investments in COLI policies are recorded at their net cash surrender value.
Our investments in COLI are intended to be utilized as a long-term funding source for post-retirement medical benefits, deferred compensation and defined benefit pension plan obligations. The designation of our COLI investments as funding sources for our long-term benefit plan obligations does not result in these investments representing a committed funding source for these obligations. We can designate any portion of them to another purpose at any time.
The net returns in cash surrender value, normal insurance expenses and any maturity benefits related to our investments in COLI policies ("COLI income") are recorded in Operating expenses in the Consolidated Statements of Income. COLI income is intended to offset the expense associated with long-term benefit plan obligations which are also recorded in Operating expenses in the Consolidated Statements of Income. COLI income totaled $9.7, $10.5 and $0.8 in 2025, 2024 and 2023, respectively.
The balances of our COLI investments as of February 28, 2025 and February 23, 2024 were as follows: 
TypeAbility to Choose
Investments		Net ReturnTarget Asset Allocation as of February 28, 2025Net Cash Surrender Value
February 28,
2025		February 23,
2024
Whole life
COLI policies		No abilityA rate of return set periodically by the
insurance companies		Not applicable$106.0 $106.9 
Variable life
COLI policies		Can allocate across a set of choices provided by the insurance companiesFluctuates depending on performance of underlying investments60% fixed income; 40% equity64.4 60.0 
$170.4 $166.9 
v3.25.1
Goodwill & Other Intangible Assets
 12 Months Ended
Feb. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill & Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
A summary of the changes in goodwill during 2025 and 2024, by reportable segment, is as follows:
GoodwillAmericasInternationalTotal
Balance as of February 24, 2023$268.3 $8.5 $276.8 
Goodwill on divestiture (1)(2.5)— (2.5)
Currency translation adjustments0.3 0.2 0.5 
Goodwill292.7 303.6 596.3 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 23, 2024$266.1 $8.7 $274.8 
Currency translation adjustments(1.0)(0.3)(1.3)
Goodwill291.7 303.3 595.0 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 28, 2025$265.1 $8.4 $273.5 
________________________
(1)In 2024, we sold a consolidated dealer, resulting in a decrease to goodwill in the Americas segment.
We evaluate goodwill for impairment annually in Q4, or earlier if there is a triggering event that indicates there may be a potential for impairment. See Note 2 for additional information. Based on the results of our annual impairment tests, we concluded that no goodwill impairment existed as of February 28, 2025 and February 23, 2024.
As of February 28, 2025 and February 23, 2024, other intangible assets and related accumulated amortization consisted of the following:
Other Intangible AssetsFebruary 28, 2025February 23, 2024
Weighted
Average
Useful Life
(Years)		GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Intangible assets subject to amortization:
Dealer relationships10.8$84.7 $43.8 $40.9 $84.9 $36.0 $48.9 
Trademarks (1)9.753.3 33.8 19.5 60.5 35.9 24.6 
Know-how/designs9.035.7 19.9 15.8 35.8 15.9 19.9 
Proprietary technology (1)10.04.0 3.3 0.7 15.4 14.3 1.1 
Other (1) (2)5.55.5 5.5 — 12.9 12.9 — 
183.2 106.3 76.9 209.5 115.0 94.5 
Intangible assets not subject to amortization:
Trademarks and othern/a0.1 — 0.1 0.1 — 0.1 
$183.3 $106.3 $77.0 $209.6 $115.0 $94.6 
________________________
(1)In 2025, we wrote off certain fully amortized assets as they were no longer in use, resulting in a decrease of intangible assets in the Americas segment.
(2)In 2024, we sold a consolidated dealer, resulting in a decrease of intangible assets in the Americas
In 2025, 2024 and 2023, no intangible asset impairment charges were recorded. We recorded amortization expense on intangible assets subject to amortization of $17.4 in 2025, $17.2 in 2024 and $22.8 in 2023. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2026$17.1 
202717.0 
202813.8 
202911.0 
20307.5 
$66.4 
Future events, such as acquisitions, divestitures or impairments, may cause these amounts to vary.
v3.25.1
Investments In Unconsolidated Affiliates
 12 Months Ended
Feb. 28, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates INVESTMENTS IN UNCONSOLIDATED AFFILIATES
We occasionally enter into joint ventures and other equity investments to expand or maintain our geographic presence, support our distribution network or invest in new business ventures, complementary products and services. Our investments in unconsolidated affiliates and related direct ownership interests are summarized below:
Investments in Unconsolidated AffiliatesFebruary 28, 2025February 23, 2024
Investment
Balance		Ownership
Interest		Investment
Balance		Ownership
Interest
Equity method investments
Dealer relationships$33.4 25%-40%$36.1 25%-40%
Manufacturing joint venture9.9 49%9.6 49%
43.3 45.7 
Cost method investments
Dealer relationship5.8 Less than 10%5.8 Less than 10%
Other4.2 Less than 10%4.2 Less than 10%
10.0 10.0 
Total investments in unconsolidated affiliates$53.3 $55.7 
Our equity in earnings of unconsolidated affiliates is recorded in Other income (expense), net in the Consolidated Statements of Income and is summarized below:
Equity in Earnings of Unconsolidated AffiliatesYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Dealer relationships$7.6 $11.8 $9.7 
Manufacturing joint venture1.6 1.7 2.7 
IDEO and other— — 0.1 
Total equity in earnings of unconsolidated affiliates$9.2 $13.5 $12.5 
Dealer Relationships
We have occasionally invested in dealers to expand or maintain our geographic presence and support our distribution network.
Manufacturing Joint Ventures
We have occasionally entered into manufacturing joint ventures to expand or maintain our geographic presence. Our only current manufacturing joint venture is Steelcase Jeraisy Company Limited, which is located in the Kingdom of Saudi Arabia and is engaged in the manufacturing of wood and metal office furniture systems, seating, accessories and related products for the Kingdom.
IDEO
IDEO LP is an innovation and design firm that uses a human-centered, design-based approach to generate new offerings and build new capabilities for its customers. In Q2 2023, we divested our remaining interest in IDEO.
The following table summarizes the combined accounts of our equity method investments in unconsolidated affiliates:
Consolidated Balance SheetsFebruary 28,
2025		February 23,
2024
Total current assets$219.8 $232.4 
Total non-current assets108.2 102.0 
Total assets$328.0 $334.4 
Total current liabilities157.0 152.7 
Total long-term liabilities29.3 44.4 
Total liabilities$186.3 $197.1 
 
Statements of IncomeYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Revenue$627.8 $710.1 $755.3 
Gross profit155.4 165.0 174.8 
Income before income tax expense31.6 28.3 39.0 
Net income29.7 26.5 37.5 

Supplemental InformationYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Dividends received from unconsolidated affiliates$11.3 $9.6 $7.8 
Sales to unconsolidated affiliates265.6 247.7 259.5 
Amount due from unconsolidated affiliates26.8 19.6 22.5 
v3.25.1
Debt
 12 Months Ended
Feb. 28, 2025
Debt Disclosure [Abstract]  
Short-Term Borrowings And Long-Term Debt LONG-TERM DEBT
Debt ObligationsInterest Rate as of February 28, 2025Fiscal Year
Maturity		February 28,
2025		February 23,
2024
U.S. dollar obligations:
Senior notes5.125 %2029$447.1 $446.3 
Notes payable (1)2024— — 
Other committed bank facility (2)2024— — 
Long-term debt$447.1 $446.3 
____________________
(1)We made a balloon payment of $31.8, which repaid this note payable in 2024.
(2)This facility related to a consolidated dealer that we sold in 2024.
The annual maturity of long-term debt for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2026$— 
2027— 
2028— 
2029 (1)450.0 
2030— 
$450.0 
____________________
(1)As of February 28, 2025, our senior notes due in 2029 have a principal balance of $450.0 and remaining unamortized bond discount and debt issuance costs of $2.9, which are being amortized on a straight-line basis over the remaining term of the notes.
Senior Notes
In 2019, we issued $450.0 of unsecured unsubordinated senior notes, due in January 2029 (“2029 Notes”). The 2029 Notes would rank equally with any other unsecured unsubordinated indebtedness, and they contain no financial covenants. The 2029 Notes were issued at 99.213% of par value. The bond discount of $3.5 and direct debt issuance costs of $4.0 were deferred and are being amortized over the life of the 2029 Notes. Although the coupon rate of the 2029 Notes is 5.125%, the effective interest rate is 5.6% after taking into account the impact of the direct debt issuance costs, a deferred loss on an interest rate lock related to the debt issuance and the bond discount. Amortization expense related to the discount and debt issuance costs on the 2029 Notes was $0.8 in 2025 and 2024.
We may redeem some or all of the 2029 Notes at any time. The redemption price would equal the greater of: (1) the principal amount of the notes being redeemed or (2) the present value of the remaining scheduled payments of principal and interest discounted to the redemption date on a semi-annual basis at the comparable U.S. Treasury rate plus 40 basis points; plus, in both cases, accrued and unpaid interest. If the notes are redeemed within 3 months of maturity, the redemption price would be equal to the principal amount of the notes being redeemed plus accrued and unpaid interest.
Global Committed Bank Facility
We have a $300.0 global committed bank facility, which expires in 2029. At our option, and subject to certain conditions, we may increase the aggregate commitment under the facility by up to $150.0 by obtaining at least one commitment from one of the lenders. We can use borrowings under the facility for general corporate purposes, including friendly acquisitions. Interest on borrowings is based on the rate, as selected by us from the following options (with all capitalized terms having the meanings provided in the credit agreement):
•the Applicable Floating Rate Margin in effect, plus the greatest of (i) the Prime Rate, (ii) the NYFRB plus 0.5%, (iii) the Term SOFR Rate for a one-month interest period plus 1.10% or (iv) 1.00%;
•the Applicable Term Benchmark/RFR Margin in effect plus (i) for borrowings in U.S. dollars, the Term SOFR Rate plus 0.10%, or (ii) for borrowings in euros, the Adjusted EURIBOR Rate; or
•in limited circumstances, the Applicable Term Benchmark/RFR Margin in effect plus the Daily Simple SOFR Rate plus 0.10%.
The facility requires us to satisfy two financial covenants as defined in the credit agreement:
•A maximum net leverage ratio covenant, which is measured by the ratio of (x) Indebtedness less Unrestricted Cash to (y) trailing four fiscal quarter Adjusted EBITDA and is required to be less than 3.5:1. In the context of certain permitted acquisitions, we have the ability, subject to certain conditions, to increase the maximum ratio to 4.0:1 for four consecutive quarters.
•A minimum interest coverage ratio covenant, which is measured by the ratio of (y) trailing four quarter Adjusted EBITDA to (z) trailing four quarter Interest Expense and is required to be no less than 3.0:1.
The facility does not include any restrictions on cash dividend payments or share repurchases.
Our subsidiary Smith System Manufacturing Company guarantees all obligations under the facility, and we have pledged 65% of the voting interests in our subsidiary Steelcase Holding SAS to secure all obligations under the facility.
As of February 28, 2025, there were no borrowings outstanding under the facility, our ability to borrow under the facility was not limited, and we were in compliance with all covenants under the facility. As of February 23, 2024, there were no borrowings outstanding under the facility, there were $0.1 in letters of credit reducing our availability and we were in compliance with all covenants under the facility.
Other Credit Facilities
As of February 28, 2025, we have unsecured uncommitted short-term credit facilities with various financial institutions with up to $4.0 of U.S. dollar obligations and up to $19.7 of foreign currency obligations available for working capital purposes. Interest rates are variable and determined at the time of borrowing. These credit facilities may be changed or canceled by the banks at any time. There were no borrowings on these facilities as of February 28, 2025 or February 23, 2024.
v3.25.1
Compensation Related Costs, Retirement Benefits
 12 Months Ended
Feb. 28, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plan Obligations EMPLOYEE BENEFIT PLAN OBLIGATIONS
Employee Benefit Plan Obligations (net)February 28,
2025		February 23,
2024
Defined contribution retirement plans$34.3 $27.1 
Post-retirement medical benefits25.4 27.2 
Defined benefit pension plans38.4 38.9 
Deferred compensation plans and agreements52.0 49.7 
$150.1 $142.9 
Employee benefit plan assets
Long-term asset$0.3 $1.5 
$0.3 $1.5 
Employee benefit plan obligations
Current portion$49.7 $39.9 
Long-term portion100.7 104.5 
$150.4 $144.4 
Defined Contribution Retirement Plans
Substantially all of our U.S. employees are eligible to participate in defined contribution retirement plans, primarily the Steelcase Inc. Retirement Plan (the “Retirement Plan”). Company contributions, including discretionary profit sharing and 401(k) matching contributions, and employee 401(k) contributions fund the Retirement Plan. All contributions are made to a trust which is held for the sole benefit of participants.
Total expense under all defined contribution retirement plans was $44.6 for 2025, $38.4 for 2024 and $26.1 for 2023. We expect to fund approximately $46.4 related to our defined contribution plans in 2026, including funding related to our 2025 discretionary profit sharing contributions.
Post-Retirement Medical Benefits
We maintain post-retirement benefit plans that provide medical and life insurance benefits to certain North American-based retirees and eligible dependents. The plans were frozen to new participants in 2003. We accrue the cost of post-retirement benefits during the service periods of employees based on actuarial calculations for each plan. These plans are unfunded. Our investments in COLI policies are intended to be utilized as a long-term funding source for these benefit obligations. See Note 10 for additional information.
Defined Benefit Pension Plans
Our defined benefit pension plans include various qualified foreign retirement plans as well as domestic non-qualified supplemental retirement plans that are limited to a select group of management approved by the Compensation Committee. The benefit plan obligations for the non-qualified supplemental retirement plans are primarily related to the Steelcase Inc. Executive Supplemental Retirement Plan. This plan, which is unfunded, was frozen to new participants in 2016, and the benefits were capped for existing participants. In 2023, we entered into a contract with an insurer to annuitize our U.K. defined benefit pension plan, covering 100% of the membership in the plan. This agreement resulted in an exchange of plan assets for an annuity that covers our future projected benefit obligations. In 2025, all benefit obligations to the plan's participants were irrevocably transferred, which resulted in the accelerated recognition of actuarial losses from Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets.
The funded status of our defined benefit pension plans (excluding our investments in COLI policies) is as follows:
Defined Benefit Pension
Plan Obligations		February 28, 2025February 23, 2024
Qualified PlansNon-qualified
Supplemental
Retirement Plans		Qualified PlansNon-qualified
Supplemental
Retirement Plans
ForeignForeign
Plan assets$0.3 $— $22.8 $— 
Projected benefit plan obligations9.5 20.5 30.7 21.8 
Funded status$(9.2)$(20.5)$(7.9)$(21.8)
Long-term asset0.3 — 1.5 — 
Current liability(0.4)(3.8)(0.3)(3.3)
Long-term liability(9.1)(16.7)(9.1)(18.5)
Total benefit plan obligations$(9.2)$(20.5)$(7.9)$(21.8)
Accumulated benefit obligation$6.9 $20.5 $28.1 $21.8 
 
Summary Disclosures for Defined Benefit Pension and Post-Retirement Plans
The following tables summarize our defined benefit pension and post-retirement plans:
Defined Benefit
Pension Plans		Post-Retirement
Plans
February 28,
2025		February 23,
2024		February 28,
2025		February 23,
2024
Change in plan assets:
Fair value of plan assets, beginning of year$22.8 $22.4 $— $— 
Actual return on plan assets0.7 0.7 — — 
Employer contributions2.0 4.5 3.6 2.9 
Plan participants’ contributions— — 1.8 1.9 
Settlements/Curtailments(21.8)— — — 
Currency changes0.3 1.1 — — 
Benefits paid(3.7)(5.9)(5.4)(4.8)
Fair value of plan assets, end of year0.3 22.8 — — 
Change in benefit obligations:
Benefit plan obligations, beginning of year52.5 53.9 27.2 27.5 
Service cost0.6 0.6 — 0.1 
Interest cost2.0 2.4 1.4 1.4 
Net actuarial loss (gain) (1)0.5 0.2 0.5 1.2 
Plan participants’ contributions— — 1.8 1.9 
Settlements/Curtailments(21.8)(0.7)— — 
Currency changes(0.1)1.3 (0.1)(0.1)
Special termination benefits— 0.3 — — 
Benefits paid(3.7)(5.5)(5.4)(4.8)
Benefit plan obligations, end of year30.0 52.5 25.4 27.2 
Funded status$(29.7)$(29.7)$(25.4)$(27.2)
Amounts recognized on the Consolidated Balance Sheets:
Long-term asset0.3 1.5 — — 
Current liability(4.2)(3.6)(2.6)(3.5)
Long-term liability(25.8)(27.6)(22.8)(23.7)
Net amount recognized$(29.7)$(29.7)$(25.4)$(27.2)
Amounts recognized in accumulated other comprehensive income (loss) —pretax:
Actuarial loss (gain)$(4.4)$9.1 $(12.0)$(14.6)
Prior service cost— 0.9 — — 
Total amounts recognized in accumulated other comprehensive income (loss) —pretax$(4.4)$10.0 $(12.0)$(14.6)
_________________________
(1) In 2025 and 2024, the net actuarial loss (gain) includes amounts resulting from changes in actuarial assumptions utilized to calculate our benefit plan obligations such as weighted-average discount rates.
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 28,
2025		February 23,
2024		February 24,
2023		February 28,
2025		February 23,
2024		February 24,
2023
Components of expense:
Service cost$0.6 $0.6 $0.7 $— $0.1 $0.1 
Interest cost2.0 2.4 1.6 1.4 1.4 1.1 
Amortization of net loss (gain)— 0.2 0.2 (2.0)(2.5)(1.8)
Amortization of prior year service cost (credit)— — 0.5 — — — 
Expected return on plan assets(0.7)(0.9)(0.4)— — — 
Effect of settlement/curtailments15.2 (0.3)— — — — 
Effect of special termination benefits— 0.3 — — — — 
Net expense (credit) recognized in Consolidated Statements of Income17.1 2.3 2.6 (0.6)(1.0)(0.6)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) (pretax):
Net actuarial loss (gain)0.5 0.4 (1.0)0.5 1.2 (5.1)
Prior service cost— — 0.5 — — — 
Amortization of gain (loss)— (0.2)(0.2)2.0 2.5 1.8 
Amortization of prior year service cost (credit)— — (0.5)— — — 
Losses recognized as part of the settlement/curtailments(14.4)— — — — — 
Prior service cost recognized as a part of settlement/curtailments(0.8)— — — — — 
Total recognized in other comprehensive income (loss)(14.7)0.2 (1.2)2.5 3.7 (3.3)
Total recognized in net periodic benefit cost and other comprehensive income (loss) —pretax$2.4 $2.5 $1.4 $1.9 $2.7 $(3.9)
Pension and Other Post-Retirement Accumulated Other Comprehensive Income (Loss) Changes Before Tax
Amount		Tax (Expense)
Benefit		Net of
Tax Amount
Balance as of February 24, 2023$9.1 $0.2 $9.3 
Net actuarial gain (loss) arising during period(1.6)0.4 (1.2)
Amortization of net actuarial (gain) loss included in net periodic pension cost(2.3)0.6 (1.7)
   Net actuarial gain (loss) during period(3.9)1.0 (2.9)
Foreign currency translation adjustments(0.6)0.1 (0.5)
   Current period change(4.5)1.1 (3.4)
Balance as of February 23, 2024$4.6 $1.3 $5.9 
Amortization of prior service cost (credit) included in net periodic pension cost0.8 (0.2)0.6 
   Net prior service (cost) credit during period0.8 (0.2)0.6 
Net actuarial gain (loss) arising during period(1.0)0.2 (0.8)
Amortization of net actuarial (gain) loss included in net periodic pension cost12.4 (2.7)9.7 
   Net actuarial gain (loss) during period11.4 (2.5)8.9 
Foreign currency translation adjustments(0.4)0.2 (0.2)
   Current period change11.8 (2.5)9.3 
Balance as of February 28, 2025$16.4 $(1.2)$15.2 
Weighted-Average
Assumptions		Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 28,
2025		February 23,
2024		February 24,
2023		February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average assumptions used to determine benefit obligations:
Discount rate4.50 %4.80 %4.80 %5.23 %5.46 %5.47 %
Rate of salary progression0.90 %0.50 %0.60 %
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate4.80 %4.80 %2.50 %5.46 %5.47 %3.38 %
Expected return on plan assets4.70 %4.20 %1.40 %
Rate of salary progression0.50 %0.60 %2.50 %
The measurement dates for our retiree benefit plans are consistent with our fiscal year end. Accordingly, we select discount rates to measure our benefit obligations that are consistent with market indices at the end of each year. In evaluating the expected return on plan assets, we consider the expected long-term rate of return on plan assets based on the specific allocation of assets for each plan, an analysis of current market conditions and the views of leading financial advisors and economists, as applicable.
The assumed healthcare cost trend was 7.22% for pre-age 65 retirees as of February 28, 2025, gradually declining to 4.50% after eight years. As of February 23, 2024, the assumed healthcare cost trend was 6.83% for pre-age 65 retirees, gradually declining to 4.50% after seven years. Post-age 65 trend rates are not applicable as our plan provides a fixed subsidy for post-age 65 benefits.
Plan Assets
In 2023, we entered into a contract with an insurer to annuitize our U.K. defined benefit pension plan, covering 100% of the membership in the plan. This agreement, or "buy-in", resulted in an exchange of plan assets for an annuity that covered our future projected benefit obligations. The initial value of the asset associated with this contract was equal to the premium paid to the insurer to secure the insurance policy. The value of the asset was adjusted each reporting period for changes in financial assumptions, such as discount rates and inflation indices. The asset represented a Level 3 measurement as there were no observable inputs with the valuation of the contract.
In 2025, all benefit obligations to the plan's participants were irrevocably transferred, which resulted in the accelerated recognition of actuarial losses from Accumulated other comprehensive income (loss). We recorded a $15.2 non-cash pension settlement charge in Other income (expense), net and a $3.4 discrete tax benefit in Income tax expense. As of February 28, 2025, the plan assets comprise of cash only, which represents a Level 1 measurement.
Our pension plans’ weighted-average investment allocation strategies and weighted-average target asset allocations by asset category as of February 28, 2025 and February 23, 2024 are reflected in the following table:
Asset CategoryFebruary 28, 2025February 23, 2024
Actual
Allocations		Target
Allocations		Actual
Allocations		Target
Allocations
Buy-in contract— %— %99 %100 %
Other (1)100 100 1 — 
Total100 %100 %100 %100 %
________________________
(1)Represents cash and cash equivalents.
The fair value of the pension plan assets as of February 28, 2025 and February 23, 2024, by asset category are as follows:
Fair Value of Pension Plan AssetsFebruary 28, 2025
Level 1Level 2Level 3Total
Cash and cash equivalents$0.3 $— $— $0.3 
$0.3 $— $— $0.3 
Fair Value of Pension Plan AssetsFebruary 23, 2024
Level 1Level 2Level 3Total
Cash and cash equivalents$0.3 $— $— $0.3 
Buy-in contract— — 22.5 22.5 
$0.3 $— $22.5 $22.8 
Below is a roll-forward of the pension plan assets measured at estimated fair value using Level 3 inputs during 2025 and 2024:
Roll-Forward of Fair Value Using Level 3 Inputs
Pension Plan Assets
Balance as of February 24, 2023$21.9 
Change in estimated fair value(0.5)
Foreign currency gain1.1 
Balance as of February 23, 2024$22.5 
Change in estimated fair value(1.0)
Settlement(21.8)
Foreign currency gain0.3 
Balance as of February 28, 2025$— 
We expect to contribute approximately $4.2 to our pension plans and fund approximately $2.7 related to our post-retirement plans in 2026. The estimated future benefit payments under our pension and post-retirement plans are as follows:
Fiscal Year Ending in FebruaryPension 
Plans		Post-retirement
Plans
2026
$4.2 $2.7 
20273.3 2.6 
20283.0 2.5 
20292.9 2.4 
20303.0 2.3 
2031 - 203511.7 10.1 
Multi-Employer Pension Plan
One of our subsidiaries, SC Transport Inc., previously contributed to the Central States, Southeast and Southwest Areas Pension Fund (the "Fund"), a multi-employer pension plan, based on obligations arising under a collective bargaining agreement that covered SC Transport Inc. employees and retirees. Under current law, an employer that withdraws or partially withdraws from a multi-employer pension plan may incur a withdrawal liability to the plan, which represents the portion of the plan’s underfunding that is allocable to the withdrawing employer under very complex actuarial and allocation rules. 
In 2019, the Fund asserted that SC Transport Inc.'s absence of hiring additional union employees over the past ten years constituted an adverse selection practice under the Fund and, if not remedied, would result in an assessment of a withdrawal liability. As a result of the Fund's assertion, SC Transport Inc. recorded an $11.2 charge related to its estimated future obligations under a withdrawal from the Fund to be paid out in installments over a period of up to 20 years. The withdrawal liability was discounted using a rate of 3.5%. The balance of the liability as of February 28, 2025 was $8.7.
In 2020, SC Transport Inc. withdrew from the Fund, and the Fund issued a final assessment of our withdrawal liability. We appealed the amount of the assessment by the Fund. In 2024, we prevailed in arbitration on our claim, and the Fund appealed the arbitrator’s decision. The amount that may ultimately be required to settle any potential obligation may be lower or higher than our estimated liability, which we will adjust if needed, if and when additional information becomes available.
Deferred Compensation Programs
We maintain four deferred compensation programs. The first deferred compensation program is closed to new entrants. In this program, certain employees elected to defer a portion of their compensation in return for a fixed benefit to be paid in installments beginning when the participant reaches age 70. Under the second plan, certain employees may elect to defer a portion of their compensation. The third plan is intended to restore retirement benefits that would otherwise be paid under the Retirement Plan but are precluded as a result of the limitations on eligible compensation under Internal Revenue Code Section 401(a)(17). Under the fourth plan, our non-employee directors may elect to defer all or a portion of their board retainer and committee fees. The deferred amounts in the last three plans earn a return based on the investment option selected. These deferred compensation obligations are unfunded.
Deferred compensation expense (gain), which represents annual participant earnings on amounts that have been deferred, and expense (gains) related to restoration retirement benefits, were $5.5 for 2025, $7.7 for 2024 and $(2.9) for 2023.
v3.25.1
Equity
 12 Months Ended
Feb. 28, 2025
Equity [Abstract]  
Capital Structure CAPITAL STRUCTURE
Terms of Class A Common Stock and Class B Common Stock
The holders of common stock are generally entitled to vote as a single class on all matters upon which shareholders have a right to vote, subject to the requirements of applicable laws and the rights of any outstanding series of preferred stock to vote as a separate class. Each share of Class A Common Stock entitles its holder to one vote, and each share of Class B Common Stock entitles its holder to 10 votes. Each share of Class B Common Stock is convertible into a share of Class A Common Stock on a one-for-one basis (i) at the option of the holder at any time, (ii) upon transfer to a person or entity which is not a Permitted Transferee (as defined in our Second Restated Articles of Incorporation, as amended), (iii) with respect to shares of Class B Common Stock acquired after February 20, 1998, at such time as a corporation, partnership, limited liability company, trust or charitable organization holding such shares ceases to be controlled or owned 100% by Permitted Transferees and (iv) on the date on which the number of shares of Class B Common Stock outstanding is less than 15% of all of the then outstanding shares of common stock (calculated without regard to voting rights).
Except for the voting and conversion features described above, the terms of Class A Common Stock and Class B Common Stock are generally similar. That is, the holders are entitled to equal dividends when declared by our Board of Directors and generally will receive the same per share consideration in the event of a merger and be treated on an equal per share basis in the event of a liquidation or winding up of Steelcase Inc. In addition, we are not entitled to issue additional shares of Class B Common Stock, or issue options, rights or warrants to subscribe for additional shares of Class B Common Stock, except that we may make a pro rata offer to all holders of common stock of rights to purchase additional shares of the class of common stock held by them, and any dividend payable in common stock will be paid in the form of Class A Common Stock to Class A holders and Class B Common Stock to Class B holders. Neither class of stock may be split, divided or combined unless the other class is proportionally split, divided or combined.
Preferred Stock
Our Second Restated Articles of Incorporation, as amended, authorize our Board of Directors, without any vote or action by our shareholders, to create one or more series of preferred stock up to the limit of our authorized but unissued shares of preferred stock and to fix the designations, preferences, rights, qualifications, limitations and restrictions thereof, including the voting rights, dividend rights, dividend rate, conversion rights, terms of redemption (including sinking fund provisions), redemption price or prices, liquidation preferences and the number of shares constituting any series.
Share Repurchases and Conversions    
The 2025 and 2024 activity for share repurchases is as follows (share data in millions):
Share RepurchasesYear ended
February 28,
2025		February 23,
2024
Total number of shares (1)
Price Paid
Total number
of shares (2)
Price Paid
Class A Common Stock2.9 $36.4 0.5 $4.2 
Class B Common Stock— $— — $— 
________________________
(1)0.8 million shares were repurchased to satisfy participants’ tax withholding obligations upon the issuance of shares under equity awards, pursuant to the terms of the Steelcase Inc. Incentive Compensation Plan (the “Incentive Compensation Plan").
(2)All shares were repurchased to satisfy participants’ tax withholding obligations upon the issuance of shares under equity awards, pursuant to the terms of our Incentive Compensation Plan.
During 2025 and 2024, 0.6 million and 0.1 million shares of our Class B Common Stock were converted to Class A Common Stock, respectively.
v3.25.1
Income Taxes
 12 Months Ended
Feb. 28, 2025
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Provision for Income Taxes
The provision for income taxes on income before income tax expense (benefit) consists of:
Provision for Income Tax Expense (Benefit)Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Current income tax expense:
Federal$43.6 $6.6 $1.3 
State and local12.8 3.5 0.8 
Foreign13.9 14.9 14.9 
70.3 25.0 17.0 
Deferred income tax expense (benefit):
Federal(47.6)(0.1)(2.3)
State and local(10.6)(1.8)1.4 
Foreign1.4 2.9 0.2 
(56.8)1.0 (0.7)
Income tax expense$13.5 $26.0 $16.3 
Income taxes were based on the following sources of income before income tax expense (benefit):
Source of Income Before Income Tax Expense (Benefit)Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Domestic$95.9 $42.3 $2.1 
Foreign38.3 64.8 49.5 
$134.2 $107.1 $51.6 
For income tax purposes, our domestic operations act as the global principal in our supply chain with routine income earned by our foreign operations for contract manufacturing and sales and distribution functions. The result is that our foreign operations earn consistent income, and our domestic operations earn the resulting variable residual income (loss).
The total income tax expense recognized is reconciled to that computed by applying the U.S. federal statutory tax rate of 21.0%, as follows:
Income Tax Provision ReconciliationYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Tax expense at the U.S. federal statutory rate$28.2 $22.5 $10.8 
State and local income taxes, net of federal tax effect1.8 1.3 2.0 
Foreign operations, less applicable foreign tax credits (1)0.1 5.9 4.0 
Contingent consideration (2)— (2.0)0.9 
Valuation allowance provisions and adjustments (3)4.9 1.9 1.0 
COLI income (4)(2.0)(2.2)(0.4)
Foreign-derived intangible income ("FDII") deduction (5)(8.6)— — 
Changes under U.S Internal Revenue Code ("IRC") Section 987 (6)(9.2)— — 
Officer compensation limitation2.6 1.9 1.0 
Research tax credit(3.8)(3.5)(2.9)
Other U.S. domestic tax credits(0.3)(0.3)(0.3)
Stock compensation (0.7)0.4 0.4 
Other0.5 0.1 (0.2)
Total income tax expense recognized
$13.5 $26.0 $16.3 
________________________
(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 of our deferred tax assets are based on current year assessments of realizability, 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)In 2025, we qualified for the U.S. FDII deduction due to increased foreign source sales recognized for tax purposes, which resulted in a temporary book-to-tax difference.
(6)Final regulations under IRC Section 987 were enacted in 2025 and resulted in the recognition of a deferred tax asset on the accumulated unrecognized foreign currency exchange losses of foreign branches using a functional currency other than the U.S. dollar.
Deferred Income Taxes
The significant components of deferred income taxes are as follows:
Deferred Income TaxesFebruary 28,
2025		February 23,
2024
Deferred income tax assets:
Employee benefit plan obligations and deferred compensation$53.1 $51.9 
Deferred revenue (1)41.3 3.6 
Operating lease obligations35.9 47.6 
Foreign and domestic net operating loss carryforwards29.1 33.0 
Capitalized research expenditures28.1 23.9 
Reserves and allowances19.5 18.6 
Accumulated foreign exchange losses under IRC Section 98711.3 — 
Tax credit carryforwards9.9 12.7 
Other, net8.1 2.9 
Total deferred income tax assets236.3 194.2 
Valuation allowances(10.8)(6.2)
Net deferred income tax assets225.5 188.0 
Deferred income tax liabilities:
Right-of-use operating lease assets 32.6 43.9 
Property, plant and equipment12.8 17.4 
Intangible assets18.6 18.1 
Total deferred income tax liabilities64.0 79.4 
Net deferred income taxes$161.5 $108.6 
Net deferred income taxes is comprised of the following components:
Deferred income tax assets—non-current166.8 115.8 
Deferred income tax liabilities—non-current5.3 7.2 
________________________
(1)In 2025, we qualified for the U.S. FDII deduction due to increased foreign source sales recognized for tax purposes, which resulted in a temporary book-to-tax difference.
As of February 28, 2025, the valuation allowances of $10.8 related to foreign deferred tax assets. In updating our assessment of the realizability of deferred tax assets, we considered the following factors:
•recent financial performance, including cumulative losses where applicable,
•the predictability of future income during the relevant carryforward period,
•prudent and feasible tax planning strategies that could be implemented to utilize the deferred tax assets and
•the effect of reversing taxable temporary differences.
Based on our evaluation of these factors, particularly cumulative losses, we were unable to assert that it is more likely than not that the deferred tax assets related to a manufacturing facility in China and sales offices in Australia, China, Hong Kong, Mexico and Morocco would be realized as of February 28, 2025.
We have the ability to repatriate foreign subsidiary earnings to our U.S. parent without incurring additional U.S. federal income tax beyond foreign currency exchange impacts. We have recorded deferred income taxes related to withholding and other taxes where appropriate on earnings of subsidiaries not expected to be permanently reinvested. However, we have not recorded deferred taxes on any remaining historical outside basis differences in non-U.S. subsidiaries, as we continue to assert indefinite reinvestment of those basis differences.
Taxes Payable or Receivable
Income taxes currently payable or receivable are reported on the Consolidated Balance Sheets as follows:
Income TaxesFebruary 28,
2025		February 23,
2024
Other current assets:
Income taxes receivable$7.8 $11.5 
Other current liabilities:
Income taxes payable$22.3 $2.6 
Net Operating Loss and Tax Credit Carryforwards
Operating loss and tax credit carryforwards expire as follows:
Fiscal Year Ending FebruaryNet Operating Loss
Carryforwards (Gross)		Net Operating Loss
Carryforwards (Tax Effected)		Tax Credit
Carryforwards
FederalStateInternationalFederalStateInternationalTotal
2026$— $— $0.8 $— $— $0.2 $0.2 $— 
2027-20450.7 5.2 11.0 0.1 0.4 2.7 3.2 9.9 
No expiration— 0.7 100.7 — — 25.7 25.7 — 
$0.7 $5.9 $112.5 0.1 0.4 28.6 29.1 9.9 
Valuation allowances— — (3.1)(3.1)— 
Net benefit$0.1 $0.4 $25.5 $26.0 $9.9 
Future tax benefits for net operating loss and tax credit carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. It is considered more likely than not that a benefit of $35.9 will be realized on these net operating loss and tax credit carryforwards. This determination is based on the expectation that related operations will be sufficiently profitable or various tax, business and other planning strategies available to us will enable utilization of the carryforwards. We assess the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. Valuation allowances are recorded to the extent realization of these carryforwards is not more likely than not.
Uncertain Tax Positions
We are subject to taxation in the U.S. and various states and foreign jurisdictions with varying statutes of limitation. Tax years that remain subject to examination by major tax jurisdictions include: the U.S. 2024 and 2025, Canada 2021 through 2025, France 2020 through 2025 and Germany 2015 through 2025. We adjust these reserves, as well as the related interest and penalties, in light of changing facts and circumstances.
We are audited by the U.S. Internal Revenue Service under the Compliance Assurance Process (“CAP”). Under CAP, the U.S. Internal Revenue Service works with large business taxpayers to identify and resolve issues prior to the filing of a tax return. Accordingly, we record minimal liabilities for U.S. federal uncertain tax positions.
We recognize interest and penalties associated with uncertain tax positions in income tax expense, and these amounts were not material in 2025, 2024 or 2023.
A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows:
Unrecognized Tax BenefitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Balance as of beginning of period$2.0 $2.0 $2.1 
Gross increases—tax positions in prior period0.3 — — 
Currency translation adjustment(0.1)— (0.1)
Balance as of end of period$2.2 $2.0 $2.0 
We have taken tax positions in a non-U.S. jurisdiction that do not meet the more likely than not test required under the uncertain tax position accounting guidance. Since the tax positions have increased net operating loss carryforwards, the underlying deferred tax asset is shown net of a $2.2 liability for uncertain tax positions as of February 28, 2025. No other material amounts are recorded as a liability for uncertain tax positions, including interest and penalties, on the Consolidated Balance Sheets.
Unrecognized tax benefits of $2.2, if favorably resolved, would be recorded as an income tax benefit. We do not expect the amount of unrecognized tax benefits to significantly change due to expiring statutes or audit activity in the next twelve months.
v3.25.1
Share-Based Compensation
 12 Months Ended
Feb. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Share-Based Compensation SHARE-BASED COMPENSATION
The Incentive Compensation Plan provides for the issuance of share-based compensation awards to employees and members of our Board of Directors. As of February 28, 2025, there were 5,526,211 shares of Class A Common Stock authorized for future issuance under the Incentive Compensation Plan.
A variety of awards may be granted under the Incentive Compensation Plan, including stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, cash-based awards, phantom shares and other share-based awards. Our Board of Directors may amend or terminate the Incentive Compensation Plan at its discretion subject to certain provisions as stipulated within the plan.
In the event of a "change in control", as defined in the Incentive Compensation Plan,
•any performance-based conditions imposed on outstanding awards will be deemed to be, immediately prior to the change in control, the greater of (1) the applicable performance achieved through the date of the change in control or (2) the target level of performance; and
•all restrictions imposed on all outstanding awards of restricted stock units and performance units will lapse if either (1) the awards are assumed by an acquirer or successor and the awardee experiences a qualifying termination during the two-year period following the change in control or (2) the awards are not assumed by an acquirer or successor.
Share-based awards outstanding under the Incentive Compensation Plan as of February 28, 2025 are as follows:
Total Outstanding AwardsFebruary 28,
2025
Performance units (1)2,104,516 
Restricted stock units3,048,957 
Total outstanding awards5,153,473 
________________________
(1)This amount represents the maximum number of shares that may be issued under outstanding performance unit awards; however, the actual number of shares which may be issued will be determined based on the satisfaction of certain conditions, and therefore may be significantly lower.
Performance Units
In 2025, we issued 465,300 performance units ("PSUs") to certain employees, which are earned over the period of 2025 through 2027 (the "2025 PSUs"). Of these PSUs, 372,240 are earned based on performance conditions, and 93,060 are earned based on a market condition. The performance conditions and market condition for these PSUs were established by the Compensation Committee in 2025, and thus the 2025 PSUs were considered granted in 2025.
In 2024 and 2023, we issued PSUs to certain employees which are earned over a three-year performance period based on performance conditions established annually by the Compensation Committee within the first three months of the applicable fiscal year, as follows:
•767,600 PSUs to be earned over the period of 2024 through 2026 (the "2024 PSUs") and
•428,700 PSUs to be earned over the period of 2023 through 2025 (the "2023 PSUs").
The number of PSUs earned under the 2024 PSUs and the 2023 PSUs are modified based on a market condition. When the performance conditions for a fiscal year are established for these PSUs, one-third of the PSUs issued are considered granted. Therefore, each of the three fiscal years within the performance period is considered an individual tranche of the award (referred to as "Tranche 1," "Tranche 2" and "Tranche 3," respectively). As of February 28, 2025, the 2024 PSUs and 2023 PSUs were considered granted as follows:
•In 2025, the performance conditions were established for Tranche 2 of the 2024 PSUs and Tranche 3 of the 2023 PSUs, and accordingly, such tranches were considered granted in 2025.
•In 2024, the performance conditions were established for Tranche 1 of the 2024 PSUs and Tranche 2 of the 2023 PSUs, and accordingly, such tranches were considered granted in 2024.
•In 2023, the performance conditions were established for Tranche 1 of the 2023 PSUs, and accordingly, such tranche was considered granted in 2023.
Once granted, the PSUs are expensed and recorded in Additional paid-in capital on the Consolidated Balance Sheets over the remaining performance period. For participants who are or become retirement-eligible during the performance period, the PSUs are expensed over the period ending on the date the participant becomes retirement-eligible. The awards will be forfeited if a participant leaves the company for reasons other than retirement, disability or death or if the participant engages in any competition with us, as defined in the Incentive Compensation Plan.
The expense for PSUs is determined as follows:
•For PSUs earned based on performance conditions only, the expense is determined based on the probability that the performance conditions will be met and the grant date fair value. The fair value is equal to the closing price of shares of our Class A Common Stock on the grant date.
•For PSUs earned based on a market condition only, the expense is determined based on the grant date fair value of the market condition. The fair value is calculated using the Monte Carlo simulation model.
•For PSUs earned based on performance conditions and modified based on a market condition, the expense is determined based on the probability that the performance conditions will be met and the grant date fair value of the market condition. The fair value is calculated using the Monte Carlo simulation model.
The Monte Carlo simulation model used the following assumptions:
2025 PSUs2024 PSUs2023 PSUs
Tranche 2Tranche 1Tranche 3Tranche 2Tranche 1
Risk-free interest rate (1)4.7 %4.9 %3.7 %5.2 %4.0 %2.6 %
Expected term3 years2 years3 years1 year2 years3 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.
The weighted-average grant date fair value per share of PSUs granted in 2025, 2024 and 2023 are as follows:
Grant Date Fair Value per PSUYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average grant date fair value per share of PSUs granted
$13.27 $8.30 $11.13 
The total PSU expense and associated tax benefit recorded in 2025, 2024 and 2023 are as follows:
Performance UnitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Expense$10.1 $6.7 $3.2 
Tax benefit2.5 1.7 0.8 
After completion of the performance period, the number of PSUs earned will be issued as shares of Class A Common Stock. Based on actual results, the 2023 PSUs were earned at 112.1% of the target level, as modified, and 456,578 shares of Class A Common Stock were issued to participants under such awards. The aggregate number of shares of Class A Common Stock that ultimately may be issued under PSUs that have been granted where the performance period has not been completed ranged from 0 to 2,104,516 shares as of February 28, 2025.
A dividend equivalent is calculated based on the actual number of PSUs earned at the end of the performance period equal to the dividends that would have been payable on the earned PSUs had they been held during the entire performance period as Class A Common Stock. At the end of the performance period, the dividend equivalents are paid in the form of cash.
The 2025 PSU activity is as follows:
Maximum Number of Shares of Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value per Unit
Nonvested as of February 23, 20241,299,988 $9.51 
Granted1,887,648 13.27 
Vested(456,578)10.77 
Forfeited(105,600)11.20 
Performance adjustments (1)(520,942)12.17 
Nonvested as of February 28, 20252,104,516 $11.84 
________________________
(1)This amount represents the difference between the maximum number of shares that could have been issued for the 2023 PSUs and the number of shares actually earned based on final performance, as modified.
As of February 28, 2025, there was $4.1 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.7 years.
The total fair value of PSUs vested during 2025, 2024 and 2023 was $4.8, $4.9 and $2.1, respectively. The fair value was determined based upon the closing price of shares of our Class A Common Stock on the date that the Compensation Committee certified the awards.
Restricted Stock Units
During 2025, we awarded 1,186,304 restricted stock units ("RSUs") to certain employees. RSUs have restrictions on transfer which lapse up to three years after the date of grant, at which time RSUs are issued as unrestricted shares of Class A Common Stock. RSUs are expensed and recorded in Additional paid-in capital on the Consolidated Balance Sheets over the requisite service period based on the value of the shares on the grant date. For participants who are or become retirement-eligible during the service period for awards that are considered retirement-eligible, the RSUs are expensed over the period ending on the date the participant becomes retirement-eligible. Typically, these awards will be forfeited if a participant leaves the company for reasons other than retirement, disability or death or if the participant engages in any competition with us, as defined in the Incentive Compensation Plan.
The weighted-average grant date fair value per share of RSUs granted in 2025, 2024 and 2023 are as follows:
Grant Date Fair Value per ShareYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average grant date fair value per share of RSUs granted$12.32 $8.36 $10.63 
The total RSU expense and associated tax benefit recorded in 2025, 2024 and 2023 are as follows:
Restricted Stock UnitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Expense$13.4 $18.2 $17.6 
Tax benefit3.3 4.5 4.4 
Holders of RSUs receive cash dividends equal to the dividends we declare and pay on our Class A Common Stock, which are included in Dividends paid in the Consolidated Statements of Cash Flows. The 2025 RSU activity is as follows:
Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value
per Share
Nonvested as of February 23, 20243,151,634 $9.59 
Granted1,186,304 12.32 
Vested(1,202,796)11.64 
Forfeited(86,185)9.58 
Nonvested as of February 28, 20253,048,957 $9.85 
As of February 28, 2025, there was $9.6 of remaining unrecognized compensation expense related to RSUs, which is expected to be recognized over a weighted-average period of 1.8 years.
The total fair value of RSUs vested was $14.8, $23.2 and $10.1 during 2025, 2024 and 2023, respectively. The fair value was determined based upon the closing price of shares of our Class A Common Stock on the dates the awards vested.
Unrestricted Share Grants
Under the Incentive Compensation Plan, unrestricted shares of our Class A Common Stock may be issued to members of our Board of Directors as compensation for director’s fees. We granted a total of 76,477, 131,013 and 109,090 unrestricted shares at a weighted average grant date fair value per share of $12.92, $8.53 and $9.67 during 2025, 2024 and 2023, respectively.
v3.25.1
Leases
 12 Months Ended
Feb. 28, 2025
Leases [Abstract]  
Lessee, Operating Leases LEASES
We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment that expire at various dates through 2035. Certain lease agreements include contingent rental payments based on per unit usage over contractual levels (e.g., miles driven or machine hours operated) and others include rental payments adjusted periodically for inflationary indexes. Additionally, some leases include options to renew or terminate the leases which can be exercised at our discretion.
The components of lease expense are as follows:
Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Operating lease cost$50.4 $53.9 $51.9 
Sublease rental income(5.1)(2.4)(2.2)
$45.3 $51.5 $49.7 
Supplemental cash flow and other information related to leases is as follows:
Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Cash flow information:
Operating cash flows used for operating leases$53.3 $55.8 $53.1 
Leased assets obtained in exchange for new operating lease obligations$36.8 $20.9 $39.1 
As of February 28, 2025 and February 23, 2024, the weighted-average remaining lease terms were 4.4 years and 4.8 years, respectively, and the weighted-average discount rates were 5.3% and 4.8%, respectively.
The following table summarizes the future minimum lease payments as of February 28, 2025:
Fiscal Year Ending in February
Amount (1)
2026$46.7 
202741.1 
202831.8 
202922.1 
203017.7 
Thereafter13.6 
Total lease payments173.0 
Less: Interest(19.4)
Present value of lease liabilities$153.6 
_______________________________________
(1)Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced.
v3.25.1
Business Combinations and Asset Acquisitions
 12 Months Ended
Feb. 28, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions ACQUISITIONS
HALCON
In 2023, we acquired HALCON, a Minnesota-based designer and manufacturer of precision-tailored wood furniture for the workplace. The transaction included the purchase of all the outstanding membership interests of HALCON for $127.5 less customer deposits of $24.3, plus an adjustment of $1.9 for working capital. The acquisition was funded using a combination of cash on-hand and borrowings under our global committed bank facility. An additional amount of $2.0 is also payable to a seller based upon continued employment over a three-year period, which is being expensed over the service period on a straight-line basis.
Tangible assets and liabilities of HALCON were valued as of the acquisition date using a market analysis, and intangible assets were valued using a discounted cash flow analysis, which represents a Level 3 measurement. On the acquisition date, we recorded $51.8 related to identifiable intangible assets, $36.6 related to goodwill and $16.7 related to tangible assets. The tangible assets mainly consisted of property, plant and equipment of $30.6, working capital (primarily inventory of $12.8) and customer deposits of $24.3. The goodwill was recorded in the Americas segment and is deductible for U.S. income tax purposes. The goodwill resulting from the acquisition is primarily related to the growth potential of HALCON expected to be driven by new product development, geographic expansion and the integration of HALCON products into our dealer network. Intangible assets are principally related to dealer relationships, the HALCON trademark and internally developed know-how and designs, which are being amortized over periods ranging from 9 to 10 years from the date of acquisition. We also acquired a backlog of orders which shipped throughout 2023. The purchase price allocation for the HALCON acquisition was completed during 2024.
The following table summarizes the purchased identified intangible assets and the respective fair value and useful life of each asset at the date of acquisition:
Other Intangible Assets
Useful Life
(Years)		Fair Value
Dealer relationships10.0$21.5 
Trademark9.014.0 
Know-how and designs9.012.0 
Backlog0.74.3 
$51.8 
    
The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of February 28, 2025:
Fiscal Year Ending in FebruaryAmount
2026$5.1 
20275.0 
20285.0 
20295.0 
20305.0 
$25.1 
v3.25.1
Reportable Segments
 12 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
The operating segments regularly reviewed by our Chief Executive Officer in the capacity of CODM are (1) the Americas, (2) Europe, the Middle East and Africa ("EMEA") and (3) Asia Pacific. Asia Pacific serves customers in Australia, China, India, Japan, Korea and other countries in Southeast Asia. Our CODM compares budget to actual results and year-over-year variances for revenue, gross profit and operating income (loss) to evaluate the performance of the segments and make decisions regarding the allocation of resources. Total assets by segment include manufacturing and other assets associated with each segment.
For purposes of segment reporting externally, we have aggregated the EMEA and Asia Pacific operating segments as an International segment based upon their similarity in quantitative and qualitative characteristics as defined in the Accounting Standards Codification ("ASC") 280, Segment Reporting. We evaluated the economic similarity of these operating segments including patterns and trends for revenue, gross profit and operating income (loss) in addition to the similarity in the nature of products and services, types of customers, and production and distribution processes in these regions. We concluded that these operating segments met the criteria for aggregation consistent with the basic principles and objectives of segment reporting described in ASC 280.
The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a comprehensive portfolio of furniture, interior architectural, textile and surface imaging products that are marketed to corporate, government, education, healthcare and retail customers primarily through the Steelcase, AMQ, Coalesse, Designtex, HALCON, Orangebox, Smith System and Viccarbe brands.
The International segment serves customers in EMEA and Asia Pacific with a comprehensive portfolio of furniture and interior architectural products that are marketed to corporate, government, education, healthcare and retail customers primarily through the Steelcase, Coalesse, Orangebox, Smith System and Viccarbe brands.
The following table reconciles reportable segment financial data regularly provided to and reviewed by our CODM, including significant segment expenses, to consolidated Income before income tax expense:
Reportable Segment Data
Americas  InternationalConsolidated  
2025
Revenue$2,465.2 $700.8 $3,166.0 
Cost of sales1,608.2 500.9 2,109.1 
Restructuring costs5.8 4.6 10.4 
Gross profit851.2 195.3 1,046.5 
Operating expenses668.0 220.0 888.0 
Restructuring costs0.4 — 0.4 
Operating income (loss)182.8 (24.7)158.1 
Interest expense(25.7)
Investment income13.8 
Other income (expense), net(12.0)
Income before income tax expense134.2 
2024
Revenue$2,419.8 $739.8 $3,159.6 
Cost of sales1,618.5 524.3 2,142.8 
Restructuring costs2.2 2.2 4.4 
Gross profit799.1 213.3 1,012.4 
Operating expenses654.2 222.3 876.5 
Restructuring costs1.1 17.0 18.1 
Operating income (loss)143.8 (26.0)117.8 
Interest expense(25.9)
Investment income6.5 
Other income (expense), net8.7 
Income before income tax expense$107.1 
2023
Revenue$2,436.2 $796.4 $3,232.6 
Cost of sales1,722.1 588.6 2,310.7 
Restructuring costs2.5 — 2.5 
Gross profit711.6 207.8 919.4 
Operating expenses617.5 219.7 837.2 
Restructuring costs16.7 — 16.7 
Operating income (loss)77.4 (11.9)65.5 
Interest expense(28.4)
Investment income1.0 
Other income (expense), net13.5 
Income before income tax expense51.6 
Reportable Segment Data
Americas  InternationalConsolidated  
2025
Total assets1,848.0 482.4 2,330.4 
Capital expenditures34.0 13.1 47.1 
Depreciation and amortization57.6 23.2 80.8 
2024
Total assets1,705.5 531.2 2,236.7 
Capital expenditures34.1 13.0 47.1 
Depreciation and amortization58.5 25.1 83.6 
2023
Total assets1,631.2 571.6 2,202.8 
Capital expenditures41.9 17.2 59.1 
Depreciation and amortization64.6 25.4 90.0 
The accounting policies of each of the reportable segments are the same as those described in Note 2.
Reportable geographic information is as follows:
Reportable Geographic DataYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Long-lived assets (1):
United States$258.3 $318.0 $358.3 
Foreign locations211.0 203.5 216.5 
$469.3 $521.5 $574.8 
_______________________________________
(1)Long-lived assets include property, plant and equipment and right-of-use operating lease assets.
No country other than the U.S. represented greater than 10% of our long-lived assets in 2025, 2024 or 2023.
v3.25.1
Restructuring and Related Activities
 12 Months Ended
Feb. 28, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure
21.    RESTRUCTURING ACTIVITIES
In Q3 2025, we initiated restructuring actions in response to a continued decline in order volume in Orangebox. These actions involve the voluntary and involuntary terminations of approximately 30 salaried roles in Orangebox. We expect to incur total restructuring costs of approximately $1 in the International segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred $1 of restructuring costs for these actions in 2025. These actions are substantially complete.
In Q3 2025, we initiated restructuring actions to enhance our long-term operational effectiveness in Asia Pacific. These actions involve the involuntary terminations of approximately 70 positions in Asia Pacific. We incurred $0.8 of restructuring costs in the International segment for these actions during 2025, consisting of cash severance payments and other separation-related benefits. These restructuring actions are complete.
In Q1 2025, we initiated restructuring actions to close a regional distribution center in EMEA. These actions involve the involuntary terminations of approximately 20 positions. We expect to incur restructuring costs of approximately $3 in the International segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred restructuring costs of $2.8 for these actions in 2025. These actions are substantially complete.
In Q1 2025, we initiated a series of restructuring actions to realign our operations organization to optimize efficiency in the Americas segment. These actions involve the voluntary and involuntary terminations of approximately 100 positions. We expect to incur restructuring costs of approximately $3 related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred $3 of restructuring costs for these actions in 2025. These actions are substantially complete.
In Q4 2024, we initiated restructuring actions to move a regional distribution center in the Americas segment. These actions involved the involuntary terminations of approximately 55 positions and the relocation of approximately 15 positions. We incurred $3.0 and $0.7 of restructuring costs during 2025 and 2024, respectively, for these actions consisting of cash severance payments, other separation-related benefits, and other related costs. These restructuring actions are complete.
In Q4 2024, we initiated a series of restructuring actions to enhance our long-term operational effectiveness in Asia Pacific. These actions involve the involuntary terminations of approximately 100 positions in Asia Pacific. We expect to incur total restructuring costs of approximately $4 in the International segment related to these actions, consisting of cash severance payments, other separation-related benefits, and other related costs. We incurred $0.8 of restructuring costs for these actions in 2025. We previously recorded $2.5 related to employee termination costs and $0.4 related to the impairment of a right-of-use operating lease asset for these actions during 2024. These actions are substantially complete.
In Q3 2024, we initiated a series of restructuring actions to reallocate production of our product portfolio across our industrial footprint to take advantage of manufacturing centers of excellence. These actions involved the involuntary terminations of approximately 15 positions in the Americas segment. We incurred $0.2 and $1.1 of restructuring costs in the Americas segment for these actions during 2025 and 2024, respectively, consisting of cash severance payments, other separation-related benefits, and other related costs. These restructuring actions are complete.
In Q1 2024, we announced a series of restructuring actions in response to continued decline in order volume, persisting inflationary pressures, and decreasing plant utilization. These actions involved the involuntary terminations of approximately 40 to 50 salaried roles in EMEA, the elimination of approximately 240 positions in Asia Pacific, and the involuntary terminations of approximately 30 employees in the Americas in connection with the closing of our regional distribution center in Atlanta, Georgia. We expect to incur total restructuring costs of approximately $16 to $18 in the International segment and approximately $1 in the Americas segment related to these actions, consisting of cash severance payments and other separation-related benefits. We recorded a net benefit of $0.8 in the International segment in 2025 due to a reduction in the expected costs for employee exits. We previously incurred restructuring costs of $16.3 in the International segment and $0.5 in the Americas segment for these actions during 2024. These actions are substantially complete.
The following table details the changes in the restructuring reserve balance during 2025 and 2024:
Workforce reductionsBusiness exit and related costsTotal
Balance as of February 24, 2023$4.0 $— $4.0 
Additions
21.8 0.2 22.0 
Payments(13.4)(0.2)(13.6)
Adjustments(0.1)— (0.1)
Balance as of February 23, 2024$12.3 $— $12.3 
Additions
9.4 2.4 11.8 
Payments(17.2)(2.4)(19.6)
Adjustments(1.6)— (1.6)
Balance as of February 28, 2025$2.9 $— $2.9 
v3.25.1
Organization, Consolidation and Presentation of Financial Statements
 12 Months Ended
Feb. 28, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Unaudited Quarterly Results UNAUDITED QUARTERLY RESULTS
Unaudited Quarterly ResultsFirst  
Quarter  		Second  
Quarter  		Third  
Quarter  		Fourth  
Quarter  		Total  
2025
Revenue$727.3 $855.8 $794.9 $788.0 $3,166.0 
Gross profit234.4 295.4 265.4 251.3 1,046.5 
Operating income17.6 90.0 41.0 9.5 158.1 
Net income10.9 63.1 19.1 27.6 120.7 
Basic earnings per share0.09 0.53 0.16 0.23 1.02 
Diluted earnings per share0.09 0.53 0.16 0.23 1.02 
2024
Revenue$751.9 $854.6 $777.9 $775.2 $3,159.6 
Gross profit234.6 283.4 252.3 242.1 1,012.4 
Operating income7.3 41.0 43.8 25.7 117.8 
Net income1.5 27.5 30.8 21.3 81.1 
Basic earnings per share0.01 0.23 0.26 0.18 0.68 
Diluted earnings per share0.01 0.23 0.26 0.18 0.68 
v3.25.1
SEC Schedule, Article 12-09, Valuation and Qualifying Accounts
 12 Months Ended
Feb. 28, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II Valuation And Qualifying Accounts
SCHEDULE II
STEELCASE INC.
VALUATION AND QUALIFYING ACCOUNTS
Allowance for Losses on Accounts ReceivableYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Balance as of beginning of period$6.2 $6.5 $8.0 
Additions:
Charged to costs and expenses1.4 1.1 3.0 
Deductions (1)(2.8)(1.5)(4.3)
Other adjustments (2)(0.1)0.1 (0.2)
Balance as of end of period$4.7 $6.2 $6.5 
    
________________________
(1)Primarily represents changes in our estimated provision for bad debts and excess of accounts written off over recoveries.
(2)Primarily represents currency translation adjustments.
Reserve for Excess and Obsolete InventoryYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Balance as of beginning of period$46.4 $41.2 $35.7 
Additions:
Charged to costs and expenses10.8 14.5 12.4 
Deductions (1)(12.7)(9.3)(7.7)
Other adjustments (2)0.1 — 0.8 
Balance as of end of period$44.6 $46.4 $41.2 
    
________________________
(1)Represents inventory dispositions and losses charged against inventory reserves.
(2)Includes an increase of $1.3 recognized to record inventory at fair value in our acquisition of Halcon in 2023 and currency translation adjustments.
Valuation Allowance for Deferred Income Tax AssetsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Balance as of beginning of period$6.2 $4.3 $3.7 
Additions:
Charged to costs and expenses4.9 2.0 1.0 
Other adjustments (1)(0.3)(0.1)(0.4)
Balance as of end of period$10.8 $6.2 $4.3 
________________________
(1)Primarily represents currency translation adjustments.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Pay vs Performance Disclosure                      
Net income $ 27.6 $ 19.1 $ 63.1 $ 10.9 $ 21.3 $ 30.8 $ 27.5 $ 1.5 $ 120.7 $ 81.1 $ 35.3
v3.25.1
Insider Trading Arrangements
 12 Months Ended
Feb. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Feb. 28, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
We use a combination of people, processes, and technologies to monitor and mitigate cybersecurity threats, which include end-point monitoring, vulnerability assessments and penetration testing. We leverage a variety of cybersecurity services, tools and techniques designed to identify and assess cybersecurity threats and take preemptive action to reduce and, where possible, eliminate the potential impacts.
Our cybersecurity processes are based on the cybersecurity standards set by the Center for Internet Security and the National Institute of Standards and Technology (“NIST”). We regularly engage outside assessors and consultants to identify potential cybersecurity risks and suggest best practices.
Our efforts to safeguard the confidentiality, integrity and availability of our systems and data, maintain regulatory compliance and manage our risk from cybersecurity threats include:
•maintaining a Security Operations Center to monitor and investigate activity that may be suspicious,
•staffing and managing a cybersecurity team to safeguard systems and applications,
•routinely auditing the security of critical information technology systems and services, and
•conducting regular training and simulations for all employees and contractors with access to our systems to enhance awareness and responsiveness to possible threats.
We maintain a Cybersecurity Incident Response Plan, based on NIST’s incident handling framework, to guide our response to cybersecurity threats. The plan includes procedures to triage, assess severity and remediate events in our information technology infrastructure. Annually, we engage third-party experts to conduct penetration testing inside our network.
For data and information that is maintained for us outside our network, we conduct security and privacy assessments of vendors who hold sensitive data and manage critical platforms. We maintain written agreements that govern third-party access to our network and protection of our information, and we conduct annual reviews of appropriate access. We require our suppliers to agree to our Supplier Code of Conduct which includes cybersecurity requirements. We include the assessment of cybersecurity risk as part of our overall enterprise risk management strategy. 
Refer to Item 1A. Risk Factors under the heading "We rely on the integrity and security of our information technology systems, and our business could be materially adversely impacted by extended disruptions, significant security breaches or other compromises of these systems" for further information on the risks we face from cybersecurity threats. We believe that to date, such risks have not materially affected and are not reasonably likely to materially affect us, our business strategy, results of operations or financial condition.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
The Audit Committee of our Board of Directors is responsible for the oversight of our cybersecurity risk management. At least twice per year, our Chief Technology Officer (“CTO”) and Chief Information Security Officer (“CISO”) provide a cybersecurity update to our Audit Committee, which includes the results of penetration testing, cybersecurity simulations and training, as well as key initiatives and the progress against those initiatives, updates on the changes in trends of cybersecurity threats and the steps management is taking to address cybersecurity risks.
Cybersecurity Risk Role of Management [Text Block] At least twice per year, our Chief Technology Officer (“CTO”) and Chief Information Security Officer (“CISO”) provide a cybersecurity update to our Audit Committee, which includes the results of penetration testing, cybersecurity simulations and training, as well as key initiatives and the progress against those initiatives, updates on the changes in trends of cybersecurity threats and the steps management is taking to address cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
The Audit Committee of our Board of Directors is responsible for the oversight of our cybersecurity risk management. At least twice per year, our Chief Technology Officer (“CTO”) and Chief Information Security Officer (“CISO”) provide a cybersecurity update to our Audit Committee, which includes the results of penetration testing, cybersecurity simulations and training, as well as key initiatives and the progress against those initiatives, updates on the changes in trends of cybersecurity threats and the steps management is taking to address cybersecurity risks.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
Our CTO and CISO manage our cybersecurity strategy. Our CTO has over 14 years of experience in information security and risk management and reports directly to our President and Chief Executive Officer. Our CISO has over 11 years of experience in information security and risk management, including at a federal law enforcement agency, and has a Master of Science degree in Cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Our CTO and CISO lead our Cybersecurity Incident Response Plan management of cybersecurity incidents with a cross-functional team to assess the potential materiality of cybersecurity events and to report on the detection, analysis, containment and eradication of and recovery from such events. If the severity of events meet certain criteria, as specified by the Incident Response Plan, those events are escalated to senior levels of management and reported to our Disclosure Committee and the Audit Committee. Our Disclosure Committee is responsible for the oversight of controls and procedures related to the public disclosure of material cybersecurity incidents.
v3.25.1
Accounting Policies (Policies)
 12 Months Ended
Feb. 28, 2025
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]
Principles of Consolidation
The consolidated financial statements include the accounts of Steelcase Inc. and its subsidiaries. We consolidate entities in which we maintain a controlling interest. All intercompany transactions and balances have been eliminated in consolidation. We also consolidate variable interest entities when appropriate.
Investments in entities where our equity ownership falls between 20% and 50%, or where we otherwise have significant influence, are accounted for under the equity method of accounting. All other investments in unconsolidated affiliates are accounted for under the cost method of accounting. These investments are reported as Investments in unconsolidated affiliates on the Consolidated Balance Sheets, and income (losses) from equity method investments and any adjustments to cost method investments are reported in Other income (expense), net in the Consolidated Statements of Income. See Note 12 for additional information.
Fiscal Period, Policy [Policy Text Block]
Fiscal Year
Our fiscal year ends on the last Friday in February, with each fiscal quarter typically including 13 weeks. The fiscal year ended February 28, 2025 contained 53 weeks, with Q4 2025 containing 14 weeks. The fiscal years ended February 23, 2024 and February 24, 2023 contained 52 weeks. Reference to a year relates to the fiscal year, ended in February of the year indicated, rather than the calendar year, unless indicated by a month or specific date reference. Additionally, Q1, Q2, Q3 and Q4 reference the first, second, third and fourth quarter, respectively, of the fiscal year indicated. All amounts are in millions, except share and per share data, data presented as a percentage or as otherwise indicated.
Use of Estimates, Policy [Policy Text Block]
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts and disclosures in the consolidated financial statements and accompanying notes. Although these estimates are based on historical data and management’s knowledge of current events and actions we may undertake in the future, actual results may differ from these estimates under different assumptions or conditions.
Cash and Cash Equivalents, Policy [Policy Text Block]
Cash and Cash Equivalents
Cash and cash equivalents include demand bank deposits and highly liquid investment securities with an original maturity of three months or less. Cash equivalents are reported at cost and approximate fair value. Outstanding checks in excess of funds on deposit are classified as Accounts payable on the Consolidated Balance Sheets. Our restricted cash balance as of February 28, 2025 and February 23, 2024 was $7.5 and $7.3, respectively, and consisted primarily of funds held in escrow for potential future workers’ compensation and product liability claims. Our restricted cash balance is classified in Other assets on the Consolidated Balance Sheets.
Receivable [Policy Text Block]
Allowances for Credit Losses
Allowances for credit losses related to accounts receivable and notes receivable are maintained at a level considered by management to be adequate to absorb an estimate of probable future losses existing at the balance sheet date. In estimating probable losses, we review accounts that are past due or in bankruptcy. We consider an accounts receivable or notes receivable balance past due when payment is not received within the stated terms. We review accounts that may have higher credit risk using information available about the debtor, such as financial statements, news reports and published credit ratings. We also use general information regarding industry trends, the economic environment and information gathered through our network of field-based employees. Using an estimate of current fair market value of any applicable collateral and other credit enhancements, such as third party guarantees, we arrive at an estimated loss for specific concerns and estimate an additional amount for the remainder of trade balances based on historical trends and other factors previously referenced. Receivable balances are written off when we determine the balance is uncollectible. Subsequent recoveries, if any, are credited to bad debt expense when received.
Concentration Risk, Credit Risk, Policy [Policy Text Block]
Concentrations of Credit Risk
Our trade receivables are due from independent dealers as well as direct customers. We monitor and manage the credit risk associated with individual dealers and direct customers. Dealers are responsible for assessing and assuming credit risk of their customers and may require their customers to provide deposits, letters of credit or other credit enhancement measures. Some sales contracts are structured such that the customer payment or obligation is direct to us. In those cases, we typically assume the credit risk. Whether from dealers or direct customers, our trade credit exposures are not concentrated with any particular entity or industry.
Inventory, Policy [Policy Text Block]
Inventories
Inventories are stated at the lower of cost or net realizable value. The Americas segment primarily uses the last in, first out (“LIFO”) and the first in, first out ("FIFO") methods to value its inventories. The International segment values inventories primarily using FIFO. See Note 8 for additional information.
Property, Plant and Equipment, Policy [Policy Text Block]
Property, Plant and Equipment
Property, plant and equipment are stated at cost. Major improvements that materially extend the useful lives of the assets are capitalized. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. See Note 9 for additional information.
Long-lived assets such as property, plant and equipment are tested for impairment when conditions indicate that the carrying value may not be recoverable. We evaluate several conditions, including, but not limited to, the following: a significant decrease in the market price of an asset or an asset group; a significant adverse change in the extent or manner in which a long-lived asset is being used, including an extended period of idleness; and a current expectation that, more likely than not, a long-lived asset or asset group will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. We review the carrying value of our held and used long-lived assets utilizing estimates of future undiscounted cash flows. If the carrying value of a long-lived asset is considered impaired, an impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its estimated fair value.
When assets are classified as “held for sale,” losses are recorded for the difference between the carrying amount of the property, plant and equipment and the estimated fair value less estimated selling costs. Assets are considered “held for sale” when there is an active program to locate a buyer, and the asset is available for immediate sale in its present condition and is expected to be sold within twelve months.
Cloud Computing Arrangements
Cloud Computing Arrangements
We capitalize implementation costs of a cloud computing arrangement with a useful life greater than one year consistent with the capitalization criteria used for internal-use software. Costs incurred during the application-development phase, subject to certain exceptions, are capitalized after the preliminary project phase is completed and management commits to funding the project. Capitalized costs include fees paid to consultants to implement the software, payroll and payroll-related costs of employees to the extent of the time spent directly on the project and interest costs, if appropriate. Capitalized costs are recorded to Prepaid expenses and Other assets on the Consolidated Balance Sheets and within Net cash provided by operating activities on the Consolidated Statements of Cash Flows.
Capitalization of costs ceases at the point when the software associated with the cloud computing arrangement is ready for its intended use. Subsequent enhancements or upgrades are capitalized only to the extent that they add significant new functionality, and maintenance costs are expensed as incurred. Amortization of capitalized costs is recorded over the initial term of the related cloud computing arrangement, including renewal periods that are reasonably certain to be exercised.
In Q3 2024, we entered the application-development phase of a multi-year, phased implementation of a new enterprise resource planning ("ERP") system which is expected to replace our current ERP system and various other supporting systems for operating and financial processes. As of February 28, 2025, we have capitalized $59.1 of costs related to development activities incurred in the implementation of the new ERP system. Capitalized costs associated with other cloud computing arrangements were immaterial as of February 28, 2025 and February 23, 2024.
Goodwill and Intangible Assets, Policy [Policy Text Block]
Goodwill and Other Intangible Assets
Goodwill represents the difference between the purchase price and the related underlying tangible and identifiable intangible net asset fair values resulting from business acquisitions. We evaluate goodwill for impairment annually in Q4, or earlier if conditions indicate there may be potential for impairment, such as significant adverse changes in business climate or operating results, changes in our strategy, significant declines in our stock price or other triggering events. Goodwill is assigned to and the fair value is tested at the reporting unit level. We compare the fair value of each reporting unit to its carrying value. If the fair value of the reporting unit exceeds the carrying value, goodwill is not impaired, and no further testing is required. If the fair value of the reporting unit is less than the carrying value, the difference is recorded as an impairment charge. We estimate the fair value of our reporting units using the income approach, which calculates the fair value of each reporting unit based on the present value of its estimated future cash flows. Cash flow projections are based on management's estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rates used are based on the estimated weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to the reporting units' ability to execute on the projected cash flows. We corroborate the results determined using the income approach with a market-based approach that uses observable and comparable company information to support the appropriateness of the fair value estimates. The estimation of the fair value of our reporting units represents a Level 3 measurement.
In 2025 and 2024, we evaluated goodwill and intangible assets using nine reporting units: the Americas, EMEA, Asia Pacific, Designtex, AMQ, Smith System, Orangebox U.K., Viccarbe and HALCON. See Note 11 for additional information.
Other intangible assets subject to amortization consist primarily of dealer relationships, trademarks, know-how/designs and proprietary technology and are amortized over their estimated useful economic lives using the straight-line method. Other intangible assets not subject to amortization are accounted for and evaluated for potential impairment using an income approach based on the cash flows attributable to the related products. See Note 11 for additional information.
Supplier Finance Program
Supplier Finance Program
We participate in a supplier finance program in Spain offered by a third-party financial institution. The program allows participating suppliers the ability to finance our payment obligations prior to their scheduled due dates at a discounted price set by the financial institution. We have extended payment terms with suppliers that have voluntarily chosen to participate in the program. The outstanding amount of program obligations is reported in Accounts payable on the Consolidated Balance Sheets.
Below is a roll-forward of the supplier finance program obligations during 2025:
Roll-Forward of Outstanding Supplier Finance Program Obligations
Year EndedYear Ended
February 28, 2025February 23, 2024
Balance as of beginning of period$0.1 $0.5 
Recognition of new obligations5.1 8.0 
Reductions for settled obligations(4.6)(8.4)
Balance as of end of period$0.6 $0.1 
Commitments and Contingencies, Policy [Policy Text Block]
Contingencies
Loss contingencies are accrued if the loss is probable and the amount of the loss can be reasonably estimated. Legal costs associated with potential loss contingencies are expensed as incurred. We are involved in litigation from time to time in the ordinary course of our business. Based on known information, we do not believe we are party to any lawsuit or proceeding, individually and in the aggregate, that is likely to have a material adverse impact on the consolidated financial statements.
Self Insurance [Policy Text Block]
Self-Insurance
We are self-insured for certain losses relating to domestic workers’ compensation and product liability claims. We purchase insurance coverage to reduce our exposure to significant levels of uncertainty for these claims. Self-insured losses are accrued based upon estimates of the aggregate liability for uninsured claims incurred as of the balance sheet date using current and historical claims experience and actuarial assumptions. These estimates are subject to uncertainty due to a variety of factors, including extended lag times in the reporting and resolution of claims, trends or changes in claim settlement patterns, insurance industry practices and legal interpretations. As a result, actual costs could differ from the estimated amounts. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs.
Standard Product Warranty, Policy [Policy Text Block]
Product Warranties
We offer warranties ranging from three years to lifetime for most of our products, subject to certain exceptions. These warranties provide for the free repair or replacement of any covered product, part or component that fails during normal use because of a defect in materials or workmanship. The accrued liability for product warranties is based on an estimated amount needed to cover product warranty costs, including product recall and retrofit costs, incurred as of the balance sheet date.
We use an actuarial model to estimate our product warranty liability using actual paid claims over at least ten years and other actuarial assumptions, which provide a basis for expected future losses using actuarial assumptions.
These estimates are subject to uncertainty due to a variety of factors, including changes in claim rates and patterns. As a result, actual costs could differ significantly from the estimated amounts. Adjustments to estimated reserves are recorded in the period in which the change in estimate occurs. Accruals related to product warranties, recalls, retrofits and changes in claims experience or trends that impact our estimated product warranty liability are recorded to Cost of sales.
Roll-Forward of Accrued Liability for Product WarrantiesYear Ended
February 28,
2025		February 23,
2024
Balance as of beginning of period$33.7 $28.6 
Accruals related to product warranties, recalls and retrofits23.3 28.5 
Reductions for settlements(24.4)(23.5)
Currency translation adjustments(0.1)0.1 
Balance as of end of period$32.5 $33.7 
Our reserve for estimated settlements expected to be paid beyond one year was $17.3 as of February 28, 2025 and February 23, 2024 and is included in Other long-term liabilities on the Consolidated Balance Shee
Pension and Other Postretirement Plans, Policy [Policy Text Block]
Pension and Other Post-Retirement Benefits
We sponsor a number of domestic and foreign plans to provide pension benefits and medical and life insurance benefits to retired employees. We measure the net over-funded or under-funded positions of our defined benefit pension plans and post-retirement benefit plans as of the end of each fiscal year and display that position as an asset or liability on the Consolidated Balance Sheets. Any unrecognized prior service credit (cost) or actuarial gains (losses) are reported, net of tax, as a component of Accumulated other comprehensive income (loss) in shareholders’ equity. See Note 14 for additional information.
Environmental Costs, Policy [Policy Text Block]
Environmental Matters
Environmental expenditures related to current operations are expensed as incurred. Expenditures related to an existing condition allegedly caused by past operations, and not associated with current or future revenue generation, are typically recognized upon completion of a feasibility study or our commitment to a formal plan of action. Liabilities are recorded on a discounted basis when site-specific plans indicate the amount and timing of cash payments which are fixed and reliably determinable. We have ongoing monitoring and identification processes to assess how known exposures are progressing against the accrued cost estimates, as well as processes to identify other potential exposures.
Environmental ContingenciesYear Ended
February 28, 2025February 23, 2024
Current - Other current liabilities
$1.8 $0.6 
Long-term - Other long-term liabilities
3.1 2.3 
Total environmental contingencies (discounted)$4.9 $2.9 
As of February 28, 2025 and February 23, 2024, environmental liabilities were discounted using a rate of 3.5% when the amount and timing of cash payments are fixed and reliably determinable, and our undiscounted liabilities were $4.9 and $3.1, respectively. Based on our ongoing evaluation of these matters, we believe we have accrued sufficient reserves to cover the costs of all known environmental assessments and the remediation costs of all known sites.
Asset Retirement Obligation [Policy Text Block]
Asset Retirement Obligations
We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated. We also have known conditional asset retirement obligations that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the consolidated financial statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations we have not yet discovered, and therefore, these obligations also have not been included in the consolidated financial statements.
Revenue [Policy Text Block]
Revenue Recognition
Our revenue consists substantially of product sales and related service revenue. Product sales are reported net of discounts and are recognized when control, consisting of the rights and obligations associated with the sale, passes to the purchaser. For sales to our dealers, this typically occurs when product is shipped from our manufacturing or distribution facilities. In cases where we sell directly to customers, control is typically transferred upon delivery to the customer and, in some cases, following installation and acceptance by the customer. Service revenue is recognized when the services have been rendered. We account for shipping and handling activities as fulfillment activities even if those activities are performed after the control of the product has been transferred. We expense shipping and handling costs at the time revenue is recognized. Revenue does not include sales tax or any other taxes assessed by a governmental authority that are imposed on and concurrent with a specific sale, such as use, excise, value-added and franchise taxes (collectively referred to as "consumption taxes"). We consider ourselves a pass-through entity for collecting and remitting these consumption taxes.
Cost of Goods and Service [Policy Text Block]
Cost of Sales
Cost of sales includes material, labor, freight and overhead incurred directly related to the procurement, manufacturing and delivery of our products. Included within these categories are such items as employee compensation expense, logistics costs (including shipping and handling costs), facilities expense, depreciation, contract labor costs and warranty expense.
Selling, General and Administrative Expenses, Policy [Policy Text Block]
Operating Expenses
Operating expenses include selling, general and administrative expenses not directly related to the procurement, manufacturing and delivery of our products. Included in these expenses are items such as employee compensation expense, facilities expense, depreciation, research and development expense, royalty expense, information technology services, professional services and travel and entertainment expense.
Research and Development Expense, Policy [Policy Text Block]
Research and Development Expenses
Research and development expenses, which we define as expenses related to the investigative activities we conduct to lead to the development of new products and to improve existing products and procedures, are expensed as incurred and were $50.4 for 2025, $48.2 for 2024 and $44.4 for 2023.
Income Tax, Policy [Policy Text Block]
Income Taxes
Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the carrying amounts of existing assets and liabilities recorded in the consolidated financial statements and their respective tax bases. These deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. The effect of a change in tax rates on deferred income tax assets and liabilities is recognized in the Consolidated Statements of Income in the period that includes the enactment date.
We establish valuation allowances against deferred tax assets when it is more likely than not that all or a portion of the deferred tax assets will not be realized. All evidence, both positive and negative, is identified and considered in making the determination. Future realization of the existing deferred tax asset depends, in part, on the existence of sufficient taxable income of appropriate character within the carryforward period available under tax law applicable in the jurisdiction in which the related deferred tax assets were generated.
We have net operating loss carryforwards available in certain jurisdictions to reduce future taxable income. Future tax benefits associated with net operating loss carryforwards are recognized to the extent that realization of these benefits is considered more likely than not. This determination is based on the expectation that related operations will be sufficiently profitable or various tax, business and other planning strategies will enable us to utilize the net operating loss carryforwards within the carryforward period. In making this determination, we consider all available positive and negative evidence. To the extent that available evidence raises doubt about the realization of a deferred income tax asset, a valuation allowance is established.
We record reserves for uncertain tax positions except to the extent it is more likely than not that the tax position will be sustained on audit, based on the technical merits of the position. Periodic changes in reserves for uncertain tax positions are reflected in the provision for income taxes. See Note 16 for additional information.
Share-based Payment Arrangement [Policy Text Block]
Share-Based Compensation
Our share-based compensation consists of restricted stock units and performance units. Our policy is to expense share-based compensation using the fair-value based method of accounting for all awards granted, modified or settled. Restricted stock units and performance units are credited to shareholders' equity as they are expensed over the related service periods based on the grant date fair value of the shares expected to be issued and the achievement of certain performance conditions, respectively. See Note 17 for additional information.
Lessee, Leases
Leases
We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment. We record a right-of-use asset and corresponding lease liability for operating leases with terms greater than one year. Lease terms utilized in determining right-of-use assets and lease liabilities include the noncancellable portion of the underlying leases along with any reasonably certain lease periods associated with available renewal periods. Our leases do not contain any residual value guarantees or material restrictive covenants. As most of our leases do not provide an implicit discount rate, we use an estimated incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. The estimated incremental borrowing rate represents the estimated rate of interest we would have had to pay to borrow (on a collateralized basis) an amount equal to the lease payments for a similar period of time.
We do not separate non-lease components of a contract from the lease components to which they relate for all classes of lease assets except for embedded leases, which were immaterial in 2025. See Note 18 for additional information.
Fair Value of Financial Instruments, Policy [Policy Text Block]
Financial Instruments
The carrying amounts of our financial instruments, consisting of cash and cash equivalents, accounts and notes receivable, accounts payable and certain other liabilities, approximate their fair value due to their relatively short maturities. Our short-term investments, long-term investment, foreign exchange forward contracts and contingent earnout liability are measured at fair value on the Consolidated Balance Sheets. Our total debt is carried at cost and was $447.1 and $446.3 as of February 28, 2025 and February 23, 2024, respectively. The fair value of our total debt is measured using a discounted cash flow analysis based on current market interest rates for similar types of instruments and was approximately $432.8 and $423.0 as of February 28, 2025 and February 23, 2024, respectively. The estimation of the fair value of our total debt is based on Level 2 fair value measurements. See Note 7 and Note 13 for additional information.
We may use derivative financial instruments to manage exposures to movements in interest rates and foreign exchange rates. The use of these financial instruments modifies the exposure of these risks with the intention to reduce our risk of volatility. We do not use derivatives for speculative or trading purposes.
We evaluate contractual obligations to transfer additional cash to the sellers of companies we acquire as either a compensation arrangement or contingent consideration. We evaluate these obligations based on the terms and duration of continuing employment of the sellers post-acquisition, the linkage to the underlying valuation of the acquired company and the obligations taken in the context of other contracts or agreements. Compensation arrangements are recorded in Operating expenses as services are rendered post-acquisition. Contingent consideration obligations are recorded at fair value as of the acquisition dates. At each subsequent reporting date, changes in the fair value of the liabilities are recorded to Operating expenses until the liabilities are settled. See Note 7 for additional information.
Foreign Currency Transactions and Translations Policy [Policy Text Block]
Foreign Currency
For most foreign operations, local currencies are considered the functional currencies. We translate assets and liabilities of our foreign subsidiaries to their U.S. dollar equivalents at exchange rates in effect as of the balance sheet date. Translation adjustments are not included in determining net income but are recorded in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets unless and until a sale or a substantially complete liquidation of the net investment in the international subsidiary takes place. We translate Consolidated Statements of Income accounts at average exchange rates for the applicable period.
Foreign currency transaction gains and losses, net of derivative impacts, arising primarily from changes in exchange rates on foreign currency denominated intercompany loans and other intercompany transactions and balances between foreign locations, are recorded in Other income (expense), net in the Consolidated Statements of Income.
Derivatives, Policy [Policy Text Block]
Foreign Exchange Forward Contracts
A portion of our revenue and earnings is exposed to changes in foreign exchange rates. We seek to manage our foreign exchange risk largely through operational means, including matching revenues with same currency costs and assets with same currency liabilities. Foreign exchange risk is also partially managed through the use of derivative instruments. Foreign exchange forward contracts serve to reduce the risk of conversion or remeasurement of certain foreign denominated transactions, assets and liabilities. We primarily use derivatives for intercompany transactions (including loans) and certain forecasted currency flows from foreign-denominated transactions. The foreign exchange forward contracts primarily relate to the Mexican peso, the euro, the United Kingdom ("U.K.") pound sterling, the Canadian dollar, the Australian dollar, the Malaysian ringgit and the Chinese renminbi. See Note 7 for additional information.
Assets and liabilities related to foreign exchange forward contracts as of February 28, 2025 and February 23, 2024 are summarized below:
Net Fair Value of Foreign Exchange Forward ContractsFebruary 28,
2025		February 23,
2024
Assets:
Current - Other current assets
$0.8 $0.7 
Long-term - Other assets
— 0.1 
Liabilities:
Current - Other current liabilities
(1.4)(0.5)
Total net fair value of foreign exchange forward contracts (1)$(0.6)$0.3 
________________________
(1)The notional amounts of the outstanding foreign exchange forward contracts were $90.7 as of February 28, 2025 and $94.0 as of February 23, 2024.
Net gains (losses) recognized from settled foreign exchange forward contracts in 2025, 2024 and 2023 are summarized below:
Gain (Loss) Recognized in Consolidated Statements of IncomeYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Cost of sales$(2.2)$3.4 $2.6 
Operating expenses(0.5)0.9 0.6 
Other income (expense), net0.7 (0.5)(1.1)
Total net gain (loss)$(2.0)$3.8 $2.1 
The net gains or losses recognized from foreign exchange forward instruments in Other income (expense), net are largely offset by related foreign currency gains or losses on our intercompany loans and intercompany accounts payable.
v3.25.1
Accounting Policies (Tables) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Accounting Policies [Abstract]      
Supplier Finance Program, Obligation $ 0.6 $ 0.1 $ 0.5
Supplier Finance Program, Obligation, Addition 5.1 8.0  
Supplier Finance Program, Obligation, Settlement $ 4.6 $ 8.4  
Net Reserve for Estimated Domestic Workers' Compensation Claim [Table Text Block]
Net Reserve for Estimated Domestic Workers' Compensation ClaimsYear Ended
February 28, 2025February 23, 2024
Assets:
Long-term - Other assets
$1.6 $1.7 
Liabilities:
Current - Other current liabilities
1.7 1.3 
Long-term - Other long-term liabilities
4.2 5.2 
5.9 6.5 
Net reserve$4.3 $4.8 
The Other assets balance represents the portion of claims expected to be paid by a third party insurance provider. 		   
Net Reserve for Estimated Product Liability Claims [Table Text Block]
Net Reserve for Estimated Product Liability ClaimsYear Ended
February 28, 2025February 23, 2024
Assets:
Long-term - Other assets
$0.2 $0.3 
Liabilities:
Current - Other current liabilities
0.2 0.2 
Long-term - Other long-term liabilities
0.8 1.0 
1.0 1.2 
Net reserve$0.8 $0.9 
The Other assets balance represents the portion of claims expected to be paid by a third party insurance provider. 		   
Schedule of Product Warranty Liability [Table Text Block]
Roll-Forward of Accrued Liability for Product WarrantiesYear Ended
February 28,
2025		February 23,
2024
Balance as of beginning of period$33.7 $28.6 
Accruals related to product warranties, recalls and retrofits23.3 28.5 
Reductions for settlements(24.4)(23.5)
Currency translation adjustments(0.1)0.1 
Balance as of end of period$32.5 $33.7 
    
Environmental Exit Costs by Cost [Table Text Block]
Environmental ContingenciesYear Ended
February 28, 2025February 23, 2024
Current - Other current liabilities
$1.8 $0.6 
Long-term - Other long-term liabilities
3.1 2.3 
Total environmental contingencies (discounted)$4.9 $2.9 
    
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
Assets and liabilities related to foreign exchange forward contracts as of February 28, 2025 and February 23, 2024 are summarized below:
Net Fair Value of Foreign Exchange Forward ContractsFebruary 28,
2025		February 23,
2024
Assets:
Current - Other current assets
$0.8 $0.7 
Long-term - Other assets
— 0.1 
Liabilities:
Current - Other current liabilities
(1.4)(0.5)
Total net fair value of foreign exchange forward contracts (1)$(0.6)$0.3 
________________________
(1)The notional amounts of the outstanding foreign exchange forward contracts were $90.7 as of February 28, 2025 and $94.0 as of February 23, 2024.
    
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]
Net gains (losses) recognized from settled foreign exchange forward contracts in 2025, 2024 and 2023 are summarized below:
Gain (Loss) Recognized in Consolidated Statements of IncomeYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Cost of sales$(2.2)$3.4 $2.6 
Operating expenses(0.5)0.9 0.6 
Other income (expense), net0.7 (0.5)(1.1)
Total net gain (loss)$(2.0)$3.8 $2.1 
The net gains or losses recognized from foreign exchange forward instruments in Other income (expense), net are largely offset by related foreign currency gains or losses on our intercompany loans and intercompany accounts payable.
    
Supplier Finance Program, Obligation [Roll Forward]
Below is a roll-forward of the supplier finance program obligations during 2025:
Roll-Forward of Outstanding Supplier Finance Program Obligations
Year EndedYear Ended
February 28, 2025February 23, 2024
Balance as of beginning of period$0.1 $0.5 
Recognition of new obligations5.1 8.0 
Reductions for settled obligations(4.6)(8.4)
Balance as of end of period$0.6 $0.1 
    
v3.25.1
Revenue from Contract with Customer (Tables)
 12 Months Ended
Feb. 28, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block]
Disaggregation of Revenue
The following table provides information about disaggregated revenue by product category for each of our reportable segments:
Product Category DataYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Americas
Desking, benching, systems and storage$1,108.3 $1,059.4 $1,089.7 
Seating662.5 643.6 692.4 
Other (1)694.4 716.8 654.1 
International
Desking, benching, systems and storage232.6 255.6 262.5 
Seating272.0 261.8 290.0 
Other (1)196.2 222.4 243.9 
$3,166.0 $3,159.6 $3,232.6 
_______________________________________
(1)The other product category data by segment consists primarily of third-party products, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories.
Reportable geographic information is as follows:
Reportable Geographic RevenueYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
United States$2,292.2 $2,249.0 $2,258.7 
Foreign locations873.8 910.6 973.9 
$3,166.0 $3,159.6 $3,232.6 
No individual country in the International segment represented more than 5% of our consolidated revenue in 2025, 2024 or 2023.
No single customer represented more than 5% of our consolidated revenue in 2025, 2024 or 2023.
Contract with Customer, Asset and Liability [Table Text Block]
Contract Balances
At times, we receive payments from customers before revenue is recognized, resulting in the recognition of a contract liability (Customer deposits) presented on the Consolidated Balance Sheets.
Below is a roll-forward of the Customer deposits balance during 2025 and 2024:
Roll-Forward of Contract Liability for Customer Deposits
Customer Deposits
Balance as of February 24, 2023$50.8 
Recognition of revenue related to beginning of year customer deposits(48.3)
Customer deposits received, net of revenue recognized during the period44.3 
Other (1)(2.0)
Balance as of February 23, 2024$44.8 
Recognition of revenue related to beginning of year customer deposits(41.8)
Customer deposits received, net of revenue recognized during the period40.0 
Balance as of February 28, 2025$43.0 
v3.25.1
Earnings Per Share (Tables)
 12 Months Ended
Feb. 28, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
Computation of Earnings Per Share
Year Ended February 28, 2025
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$120.7 117.9 118.9 
Impact of participating securities (4.0)(3.9)(3.9)
Amounts used in calculating earnings per share, excluding participating securities$116.7 114.0 115.0 
Earnings per share$1.02 $1.02 
Computation of Earnings Per Share
Year Ended February 23, 2024
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$81.1 118.6 119.1 
Impact of participating securities (3.1)(4.6)(4.6)
Amounts used in calculating earnings per share, excluding participating securities$78.0 114.0 114.5 
Earnings per share$0.68 $0.68 
Computation of Earnings Per Share
Year Ended February 24, 2023
Net Income Basic Shares
(in millions)		Diluted Shares
(in millions)
Amounts used in calculating earnings per share$35.3 117.1 117.5 
Impact of participating securities (1.3)(4.3)(4.3)
Amounts used in calculating earnings per share, excluding participating securities$34.0 112.8 113.2 
Earnings per share$0.30 $0.30 
v3.25.1
Equity (Tables)
 12 Months Ended
Feb. 28, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table summarizes the changes in accumulated balances of other comprehensive income (loss) during 2025 and 2024:    
Unrealized gain (loss) on investmentPension and other post-retirement liability adjustmentsDerivative amortizationForeign currency translation adjustmentsTotal
Balance as of February 24, 2023$(0.1)$9.3 $(5.7)$(76.0)$(72.5)
Other comprehensive income (loss) before reclassifications0.5 (1.7)— 7.5 6.3 
Amounts reclassified from accumulated other comprehensive income (loss)— (1.7)1.0 — (0.7)
Net other comprehensive income (loss) during period0.5 (3.4)1.0 7.5 5.6 
Balance as of February 23, 2024$0.4 $5.9 $(4.7)$(68.5)$(66.9)
Other comprehensive income (loss) before reclassifications0.6 (1.0)— (7.4)(7.8)
Amounts reclassified from accumulated other comprehensive income (loss) (1)— 10.3 0.9 — 11.2 
Net other comprehensive income (loss) during period0.6 9.3 0.9 (7.4)3.4 
Balance as of February 28, 2025$1.0 $15.2 $(3.8)$(75.9)$(63.5)
________________________
(1)Pension and other post-retirement liability adjustments include an $11.8 settlement charge, net of tax, related to the annuitization of our defined benefit pension plan in the U.K. See Note 14 to the consolidated financial statements for additional information.
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The following table provides details about reclassifications out of accumulated other comprehensive income (loss) during 2025 and 2024:
Detail of Accumulated Other Comprehensive
 Income (Loss) Components		Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line in the Consolidated Statements of Income
Year Ended
February 28,
2025		February 23,
2024
Amortization of pension and other post-retirement actuarial losses (gains) (1)$12.4 $(2.3)Other income (expense), net
Prior service cost0.8 — Other income (expense), net
Income tax expense (benefit) (1)(2.9)0.6 Income tax expense
10.3 (1.7)
Derivative amortization1.3 1.3 Interest expense
Income tax benefit(0.4)(0.3)Income tax expense
0.9 1.0 
Total reclassifications$11.2 $(0.7)
________________________
(1)Amortization of pension and other post-retirement actuarial losses (gains) includes a $15.2 non-cash pension settlement charge in Other income (expense), net and a $3.4 discrete tax benefit in Income tax expense related to the annuitization of our U.K. defined benefit pension plan. See Note 14 to the consolidated financial statements for additional information.
v3.25.1
Fair Value Measures and Disclosures (Tables)
 12 Months Ended
Feb. 28, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
Assets and liabilities measured at fair value within our Consolidated Balance Sheets as of February 28, 2025 and February 23, 2024 are summarized below:
Fair Value of Financial InstrumentsFebruary 28, 2025
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents$346.3 $— $— $346.3 
Restricted cash7.5 — — 7.5 
Managed investment portfolio and other investments
Corporate debt securities - domestic— 18.0 — 18.0 
Corporate debt securities - foreign— 5.7 — 5.7 
Asset-backed securities— 8.6 — 8.6 
U.S. government debt securities9.3 — — 9.3 
Foreign exchange forward contracts— 0.8 — 0.8 
Auction rate security— — 2.8 2.8 
$363.1 $33.1 $2.8 $399.0 
Liabilities:
Foreign exchange forward contracts$— $(1.4)$— $(1.4)
$— $(1.4)$— $(1.4)
Fair Value of Financial InstrumentsFebruary 23, 2024
Level 1Level 2Level 3Total
Assets:
Cash and cash equivalents$318.6 $— $— $318.6 
Restricted cash7.3 — — 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)
$— $(0.5)$— $(0.5)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
Below is a roll-forward of assets and liabilities measured at estimated fair value using Level 3 inputs during 2025 and 2024:
Roll-Forward of Fair Value Using Level 3 Inputs
Auction Rate
Security - Other Assets
Contingent Consideration - Other Long-Term Liabilities
Balance as of February 24, 2023$2.1 $9.5 
Unrealized gain (loss) on investments0.7 — 
Change in estimated fair value— (9.5)
Balance as of February 23, 2024$2.8 $— 
Unrealized gain (loss) on investment— — 
Change in estimated fair value— — 
Balance as of February 28, 2025$2.8 $— 
v3.25.1
Inventories (Tables)
 12 Months Ended
Feb. 28, 2025
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
Inventories, net
February 28,
2025		February 23,
2024
Raw materials and work-in-process$166.8 $164.5 
Finished goods108.1 95.9 
274.9 260.4 
Revaluation to LIFO(29.2)(29.4)
$245.7 $231.0 
v3.25.1
Property, Plant And Equipment (Tables)
 12 Months Ended
Feb. 28, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment [Table Text Block]
Property, Plant and EquipmentEstimated
Useful Lives
(Years)		February 28,
2025		February 23,
2024
Land$31.1 $33.8 
Machinery and equipment3 – 15744.4 759.0 
Buildings and improvements10 – 40414.9 413.4 
Leasehold improvements3 – 1590.2 86.9 
Capitalized software3 – 1082.5 83.3 
Furniture and fixtures5 – 868.1 65.5 
Construction in progress29.7 30.2 
1,460.9 1,472.1 
Accumulated depreciation(1,132.8)(1,119.2)
$328.1 $352.9 
v3.25.1
Company-Owned Life Insurance (Tables)
 12 Months Ended
Feb. 28, 2025
Company-Owned Life Insurance [Abstract]  
Company Owned Life Insurance [Table Text Block]
The balances of our COLI investments as of February 28, 2025 and February 23, 2024 were as follows: 
TypeAbility to Choose
Investments		Net ReturnTarget Asset Allocation as of February 28, 2025Net Cash Surrender Value
February 28,
2025		February 23,
2024
Whole life
COLI policies		No abilityA rate of return set periodically by the
insurance companies		Not applicable$106.0 $106.9 
Variable life
COLI policies		Can allocate across a set of choices provided by the insurance companiesFluctuates depending on performance of underlying investments60% fixed income; 40% equity64.4 60.0 
$170.4 $166.9 
v3.25.1
Goodwill & Other Intangible Assets Intangible Assets (Tables)
 12 Months Ended
Feb. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
A summary of the changes in goodwill during 2025 and 2024, by reportable segment, is as follows:
GoodwillAmericasInternationalTotal
Balance as of February 24, 2023$268.3 $8.5 $276.8 
Goodwill on divestiture (1)(2.5)— (2.5)
Currency translation adjustments0.3 0.2 0.5 
Goodwill292.7 303.6 596.3 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 23, 2024$266.1 $8.7 $274.8 
Currency translation adjustments(1.0)(0.3)(1.3)
Goodwill291.7 303.3 595.0 
Accumulated impairment losses(26.6)(294.9)(321.5)
Balance as of February 28, 2025$265.1 $8.4 $273.5 
________________________
(1)In 2024, we sold a consolidated dealer, resulting in a decrease to goodwill in the Americas segment.
 [1]
Intangible Assets Disclosure [Table Text Block]
As of February 28, 2025 and February 23, 2024, other intangible assets and related accumulated amortization consisted of the following:
Other Intangible AssetsFebruary 28, 2025February 23, 2024
Weighted
Average
Useful Life
(Years)		GrossAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Intangible assets subject to amortization:
Dealer relationships10.8$84.7 $43.8 $40.9 $84.9 $36.0 $48.9 
Trademarks (1)9.753.3 33.8 19.5 60.5 35.9 24.6 
Know-how/designs9.035.7 19.9 15.8 35.8 15.9 19.9 
Proprietary technology (1)10.04.0 3.3 0.7 15.4 14.3 1.1 
Other (1) (2)5.55.5 5.5 — 12.9 12.9 — 
183.2 106.3 76.9 209.5 115.0 94.5 
Intangible assets not subject to amortization:
Trademarks and othern/a0.1 — 0.1 0.1 — 0.1 
$183.3 $106.3 $77.0 $209.6 $115.0 $94.6 
________________________
(1)In 2025, we wrote off certain fully amortized assets as they were no longer in use, resulting in a decrease of intangible assets in the Americas segment.
(2)In 2024, we sold a consolidated dealer, resulting in a decrease of intangible assets in the Americas
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2026$17.1 
202717.0 
202813.8 
202911.0 
20307.5 
$66.4 
Future events, such as acquisitions, divestitures or impairments, may cause these amounts to vary.
The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of February 28, 2025:
Fiscal Year Ending in FebruaryAmount
2026$5.1 
20275.0 
20285.0 
20295.0 
20305.0 
$25.1 
[1] In 2024, we sold a consolidated dealer, resulting in a decrease to goodwill in the Americas segment.
v3.25.1
Investments In Unconsolidated Affiliates (Tables)
 12 Months Ended
Feb. 28, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in and Advances to Affiliates, Schedule of Investments Our investments in unconsolidated affiliates and related direct ownership interests are summarized below:
Investments in Unconsolidated AffiliatesFebruary 28, 2025February 23, 2024
Investment
Balance		Ownership
Interest		Investment
Balance		Ownership
Interest
Equity method investments
Dealer relationships$33.4 25%-40%$36.1 25%-40%
Manufacturing joint venture9.9 49%9.6 49%
43.3 45.7 
Cost method investments
Dealer relationship5.8 Less than 10%5.8 Less than 10%
Other4.2 Less than 10%4.2 Less than 10%
10.0 10.0 
Total investments in unconsolidated affiliates$53.3 $55.7 
Equity in earnings of unconsolidated affiliates [Table Text Block]
Our equity in earnings of unconsolidated affiliates is recorded in Other income (expense), net in the Consolidated Statements of Income and is summarized below:
Equity in Earnings of Unconsolidated AffiliatesYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Dealer relationships$7.6 $11.8 $9.7 
Manufacturing joint venture1.6 1.7 2.7 
IDEO and other— — 0.1 
Total equity in earnings of unconsolidated affiliates$9.2 $13.5 $12.5 
Schedule of consolidated balance sheets of unconsolidated affiliates [Table Text Block]
The following table summarizes the combined accounts of our equity method investments in unconsolidated affiliates:
Consolidated Balance SheetsFebruary 28,
2025		February 23,
2024
Total current assets$219.8 $232.4 
Total non-current assets108.2 102.0 
Total assets$328.0 $334.4 
Total current liabilities157.0 152.7 
Total long-term liabilities29.3 44.4 
Total liabilities$186.3 $197.1 
Schedule of statements of income of unconsolidated affiliates [Table Text Block]
Statements of IncomeYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Revenue$627.8 $710.1 $755.3 
Gross profit155.4 165.0 174.8 
Income before income tax expense31.6 28.3 39.0 
Net income29.7 26.5 37.5 
Supplemental Schedule for unconsolidated affiliates [Table Text Block]
Supplemental InformationYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Dividends received from unconsolidated affiliates$11.3 $9.6 $7.8 
Sales to unconsolidated affiliates265.6 247.7 259.5 
Amount due from unconsolidated affiliates26.8 19.6 22.5 
v3.25.1
Debt (Tables)
 12 Months Ended
Feb. 28, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
Debt ObligationsInterest Rate as of February 28, 2025Fiscal Year
Maturity		February 28,
2025		February 23,
2024
U.S. dollar obligations:
Senior notes5.125 %2029$447.1 $446.3 
Notes payable (1)2024— — 
Other committed bank facility (2)2024— — 
Long-term debt$447.1 $446.3 
____________________
(1)We made a balloon payment of $31.8, which repaid this note payable in 2024.
(2)This facility related to a consolidated dealer that we sold in 2024.
Schedule of Maturities of Long-term Debt [Table Text Block]
The annual maturity of long-term debt for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2026$— 
2027— 
2028— 
2029 (1)450.0 
2030— 
$450.0 
____________________
(1)As of February 28, 2025, our senior notes due in 2029 have a principal balance of $450.0 and remaining unamortized bond discount and debt issuance costs of $2.9, which are being amortized on a straight-line basis over the remaining term of the notes.
v3.25.1
Compensation Related Costs, Retirement Benefits (Tables)
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Retirement Benefits [Abstract]    
Employee Benefit Plan Obligation Summary [Table Text Block]
Employee Benefit Plan Obligations (net)February 28,
2025		February 23,
2024
Defined contribution retirement plans$34.3 $27.1 
Post-retirement medical benefits25.4 27.2 
Defined benefit pension plans38.4 38.9 
Deferred compensation plans and agreements52.0 49.7 
$150.1 $142.9 
Employee benefit plan assets
Long-term asset$0.3 $1.5 
$0.3 $1.5 
Employee benefit plan obligations
Current portion$49.7 $39.9 
Long-term portion100.7 104.5 
$150.4 $144.4 
  
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]
The funded status of our defined benefit pension plans (excluding our investments in COLI policies) is as follows:
Defined Benefit Pension
Plan Obligations		February 28, 2025February 23, 2024
Qualified PlansNon-qualified
Supplemental
Retirement Plans		Qualified PlansNon-qualified
Supplemental
Retirement Plans
ForeignForeign
Plan assets$0.3 $— $22.8 $— 
Projected benefit plan obligations9.5 20.5 30.7 21.8 
Funded status$(9.2)$(20.5)$(7.9)$(21.8)
Long-term asset0.3 — 1.5 — 
Current liability(0.4)(3.8)(0.3)(3.3)
Long-term liability(9.1)(16.7)(9.1)(18.5)
Total benefit plan obligations$(9.2)$(20.5)$(7.9)$(21.8)
Accumulated benefit obligation$6.9 $20.5 $28.1 $21.8 
  
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]
The following tables summarize our defined benefit pension and post-retirement plans:
Defined Benefit
Pension Plans		Post-Retirement
Plans
February 28,
2025		February 23,
2024		February 28,
2025		February 23,
2024
Change in plan assets:
Fair value of plan assets, beginning of year$22.8 $22.4 $— $— 
Actual return on plan assets0.7 0.7 — — 
Employer contributions2.0 4.5 3.6 2.9 
Plan participants’ contributions— — 1.8 1.9 
Settlements/Curtailments(21.8)— — — 
Currency changes0.3 1.1 — — 
Benefits paid(3.7)(5.9)(5.4)(4.8)
Fair value of plan assets, end of year0.3 22.8 — — 
  
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Change in benefit obligations:
Benefit plan obligations, beginning of year52.5 53.9 27.2 27.5 
Service cost0.6 0.6 — 0.1 
Interest cost2.0 2.4 1.4 1.4 
Net actuarial loss (gain) (1)0.5 0.2 0.5 1.2 
Plan participants’ contributions— — 1.8 1.9 
Settlements/Curtailments(21.8)(0.7)— — 
Currency changes(0.1)1.3 (0.1)(0.1)
Special termination benefits— 0.3 — — 
Benefits paid(3.7)(5.5)(5.4)(4.8)
Benefit plan obligations, end of year30.0 52.5 25.4 27.2 
Funded status$(29.7)$(29.7)$(25.4)$(27.2)
  
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
Amounts recognized on the Consolidated Balance Sheets:
Long-term asset0.3 1.5 — — 
Current liability(4.2)(3.6)(2.6)(3.5)
Long-term liability(25.8)(27.6)(22.8)(23.7)
Net amount recognized$(29.7)$(29.7)$(25.4)$(27.2)
  
Schedule of Changes in Accumulated Postemployment Benefit Obligations [Table Text Block]
Amounts recognized in accumulated other comprehensive income (loss) —pretax:
Actuarial loss (gain)$(4.4)$9.1 $(12.0)$(14.6)
Prior service cost— 0.9 — — 
Total amounts recognized in accumulated other comprehensive income (loss) —pretax$(4.4)$10.0 $(12.0)$(14.6)
  
Schedule of Net Benefit Costs [Table Text Block]
Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 28,
2025		February 23,
2024		February 24,
2023		February 28,
2025		February 23,
2024		February 24,
2023
Components of expense:
Service cost$0.6 $0.6 $0.7 $— $0.1 $0.1 
Interest cost2.0 2.4 1.6 1.4 1.4 1.1 
Amortization of net loss (gain)— 0.2 0.2 (2.0)(2.5)(1.8)
Amortization of prior year service cost (credit)— — 0.5 — — — 
Expected return on plan assets(0.7)(0.9)(0.4)— — — 
Effect of settlement/curtailments15.2 (0.3)— — — — 
Effect of special termination benefits— 0.3 — — — — 
Net expense (credit) recognized in Consolidated Statements of Income17.1 2.3 2.6 (0.6)(1.0)(0.6)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) (pretax):
Net actuarial loss (gain)0.5 0.4 (1.0)0.5 1.2 (5.1)
Prior service cost— — 0.5 — — — 
Amortization of gain (loss)— (0.2)(0.2)2.0 2.5 1.8 
Amortization of prior year service cost (credit)— — (0.5)— — — 
Losses recognized as part of the settlement/curtailments(14.4)— — — — — 
Prior service cost recognized as a part of settlement/curtailments(0.8)— — — — — 
Total recognized in other comprehensive income (loss)(14.7)0.2 (1.2)2.5 3.7 (3.3)
Total recognized in net periodic benefit cost and other comprehensive income (loss) —pretax$2.4 $2.5 $1.4 $1.9 $2.7 $(3.9)
  
Pension and Other Post-Retirement Liability Adjustments [Table Text Block]
Pension and Other Post-Retirement Accumulated Other Comprehensive Income (Loss) Changes Before Tax
Amount		Tax (Expense)
Benefit		Net of
Tax Amount
Balance as of February 24, 2023$9.1 $0.2 $9.3 
Net actuarial gain (loss) arising during period(1.6)0.4 (1.2)
Amortization of net actuarial (gain) loss included in net periodic pension cost(2.3)0.6 (1.7)
   Net actuarial gain (loss) during period(3.9)1.0 (2.9)
Foreign currency translation adjustments(0.6)0.1 (0.5)
   Current period change(4.5)1.1 (3.4)
Balance as of February 23, 2024$4.6 $1.3 $5.9 
Amortization of prior service cost (credit) included in net periodic pension cost0.8 (0.2)0.6 
   Net prior service (cost) credit during period0.8 (0.2)0.6 
Net actuarial gain (loss) arising during period(1.0)0.2 (0.8)
Amortization of net actuarial (gain) loss included in net periodic pension cost12.4 (2.7)9.7 
   Net actuarial gain (loss) during period11.4 (2.5)8.9 
Foreign currency translation adjustments(0.4)0.2 (0.2)
   Current period change11.8 (2.5)9.3 
Balance as of February 28, 2025$16.4 $(1.2)$15.2 
  
Defined Benefit Plan, Assumptions [Table Text Block]
Weighted-Average
Assumptions		Pension PlansPost-Retirement Plans
Year EndedYear Ended
February 28,
2025		February 23,
2024		February 24,
2023		February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average assumptions used to determine benefit obligations:
Discount rate4.50 %4.80 %4.80 %5.23 %5.46 %5.47 %
Rate of salary progression0.90 %0.50 %0.60 %
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate4.80 %4.80 %2.50 %5.46 %5.47 %3.38 %
Expected return on plan assets4.70 %4.20 %1.40 %
Rate of salary progression0.50 %0.60 %2.50 %
  
Schedule of Allocation of Plan Assets [Table Text Block]
Our pension plans’ weighted-average investment allocation strategies and weighted-average target asset allocations by asset category as of February 28, 2025 and February 23, 2024 are reflected in the following table:
Asset CategoryFebruary 28, 2025February 23, 2024
Actual
Allocations		Target
Allocations		Actual
Allocations		Target
Allocations
Buy-in contract— %— %99 %100 %
Other (1)100 100 1 — 
Total100 %100 %100 %100 %
________________________
(1)Represents cash and cash equivalents.
  
Defined Benefit Plan, Plan Assets, Category
The fair value of the pension plan assets as of February 28, 2025 and February 23, 2024, by asset category are as follows:
Fair Value of Pension Plan AssetsFebruary 28, 2025
Level 1Level 2Level 3Total
Cash and cash equivalents$0.3 $— $— $0.3 
$0.3 $— $— $0.3 
Fair Value of Pension Plan AssetsFebruary 23, 2024
Level 1Level 2Level 3Total
Cash and cash equivalents$0.3 $— $— $0.3 
Buy-in contract— — 22.5 22.5 
$0.3 $— $22.5 $22.8 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
Below is a roll-forward of the pension plan assets measured at estimated fair value using Level 3 inputs during 2025 and 2024:
Roll-Forward of Fair Value Using Level 3 Inputs
Pension Plan Assets
Balance as of February 24, 2023$21.9 
Change in estimated fair value(0.5)
Foreign currency gain1.1 
Balance as of February 23, 2024$22.5 
Change in estimated fair value(1.0)
Settlement(21.8)
Foreign currency gain0.3 
Balance as of February 28, 2025$— 
  
Schedule of Expected Benefit Payments [Table Text Block] The estimated future benefit payments under our pension and post-retirement plans are as follows:
Fiscal Year Ending in FebruaryPension 
Plans		Post-retirement
Plans
2026
$4.2 $2.7 
20273.3 2.6 
20283.0 2.5 
20292.9 2.4 
20303.0 2.3 
2031 - 203511.7 10.1 
  
v3.25.1
Equity (Tables)
 12 Months Ended
Feb. 28, 2025
Equity [Abstract]  
Share Repurchases [Table Text Block]
The 2025 and 2024 activity for share repurchases is as follows (share data in millions):
Share RepurchasesYear ended
February 28,
2025		February 23,
2024
Total number of shares (1)
Price Paid
Total number
of shares (2)
Price Paid
Class A Common Stock2.9 $36.4 0.5 $4.2 
Class B Common Stock— $— — $— 
________________________
(1)0.8 million shares were repurchased to satisfy participants’ tax withholding obligations upon the issuance of shares under equity awards, pursuant to the terms of the Steelcase Inc. Incentive Compensation Plan (the “Incentive Compensation Plan").
(2)All shares were repurchased to satisfy participants’ tax withholding obligations upon the issuance of shares under equity awards, pursuant to the terms of our Incentive Compensation Plan.
v3.25.1
Income Taxes (Tables)
 12 Months Ended
Feb. 28, 2025
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 28,
2025		February 23,
2024		February 24,
2023
Current income tax expense:
Federal$43.6 $6.6 $1.3 
State and local12.8 3.5 0.8 
Foreign13.9 14.9 14.9 
70.3 25.0 17.0 
Deferred income tax expense (benefit):
Federal(47.6)(0.1)(2.3)
State and local(10.6)(1.8)1.4 
Foreign1.4 2.9 0.2 
(56.8)1.0 (0.7)
Income tax expense$13.5 $26.0 $16.3 
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
Income taxes were based on the following sources of income before income tax expense (benefit):
Source of Income Before Income Tax Expense (Benefit)Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Domestic$95.9 $42.3 $2.1 
Foreign38.3 64.8 49.5 
$134.2 $107.1 $51.6 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The total income tax expense recognized is reconciled to that computed by applying the U.S. federal statutory tax rate of 21.0%, as follows:
Income Tax Provision ReconciliationYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Tax expense at the U.S. federal statutory rate$28.2 $22.5 $10.8 
State and local income taxes, net of federal tax effect1.8 1.3 2.0 
Foreign operations, less applicable foreign tax credits (1)0.1 5.9 4.0 
Contingent consideration (2)— (2.0)0.9 
Valuation allowance provisions and adjustments (3)4.9 1.9 1.0 
COLI income (4)(2.0)(2.2)(0.4)
Foreign-derived intangible income ("FDII") deduction (5)(8.6)— — 
Changes under U.S Internal Revenue Code ("IRC") Section 987 (6)(9.2)— — 
Officer compensation limitation2.6 1.9 1.0 
Research tax credit(3.8)(3.5)(2.9)
Other U.S. domestic tax credits(0.3)(0.3)(0.3)
Stock compensation (0.7)0.4 0.4 
Other0.5 0.1 (0.2)
Total income tax expense recognized
$13.5 $26.0 $16.3 
________________________
(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 of our deferred tax assets are based on current year assessments of realizability, 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)In 2025, we qualified for the U.S. FDII deduction due to increased foreign source sales recognized for tax purposes, which resulted in a temporary book-to-tax difference.
(6)Final regulations under IRC Section 987 were enacted in 2025 and resulted in the recognition of a deferred tax asset on the accumulated unrecognized foreign currency exchange losses of foreign branches using a functional currency other than the U.S. dollar.
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The significant components of deferred income taxes are as follows:
Deferred Income TaxesFebruary 28,
2025		February 23,
2024
Deferred income tax assets:
Employee benefit plan obligations and deferred compensation$53.1 $51.9 
Deferred revenue (1)41.3 3.6 
Operating lease obligations35.9 47.6 
Foreign and domestic net operating loss carryforwards29.1 33.0 
Capitalized research expenditures28.1 23.9 
Reserves and allowances19.5 18.6 
Accumulated foreign exchange losses under IRC Section 98711.3 — 
Tax credit carryforwards9.9 12.7 
Other, net8.1 2.9 
Total deferred income tax assets236.3 194.2 
Valuation allowances(10.8)(6.2)
Net deferred income tax assets225.5 188.0 
Deferred income tax liabilities:
Right-of-use operating lease assets 32.6 43.9 
Property, plant and equipment12.8 17.4 
Intangible assets18.6 18.1 
Total deferred income tax liabilities64.0 79.4 
Net deferred income taxes$161.5 $108.6 
Net deferred income taxes is comprised of the following components:
Deferred income tax assets—non-current166.8 115.8 
Deferred income tax liabilities—non-current5.3 7.2 
________________________
(1)In 2025, we qualified for the U.S. FDII deduction due to increased foreign source sales recognized for tax purposes, which resulted in a temporary book-to-tax difference.
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 TaxesFebruary 28,
2025		February 23,
2024
Other current assets:
Income taxes receivable$7.8 $11.5 
Other current liabilities:
Income taxes payable$22.3 $2.6 
Summary of Operating Loss Carryforwards [Table Text Block]
Operating loss and tax credit carryforwards expire as follows:
Fiscal Year Ending FebruaryNet Operating Loss
Carryforwards (Gross)		Net Operating Loss
Carryforwards (Tax Effected)		Tax Credit
Carryforwards
FederalStateInternationalFederalStateInternationalTotal
2026$— $— $0.8 $— $— $0.2 $0.2 $— 
2027-20450.7 5.2 11.0 0.1 0.4 2.7 3.2 9.9 
No expiration— 0.7 100.7 — — 25.7 25.7 — 
$0.7 $5.9 $112.5 0.1 0.4 28.6 29.1 9.9 
Valuation allowances— — (3.1)(3.1)— 
Net benefit$0.1 $0.4 $25.5 $26.0 $9.9 
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 BenefitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Balance as of beginning of period$2.0 $2.0 $2.1 
Gross increases—tax positions in prior period0.3 — — 
Currency translation adjustment(0.1)— (0.1)
Balance as of end of period$2.2 $2.0 $2.0 
v3.25.1
Compensation Related Costs, Share Based Payments (Tables)
 12 Months Ended
Feb. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share Based Payment Award Outstanding Awards [Table Text Block]
Share-based awards outstanding under the Incentive Compensation Plan as of February 28, 2025 are as follows:
Total Outstanding AwardsFebruary 28,
2025
Performance units (1)2,104,516 
Restricted stock units3,048,957 
Total outstanding awards5,153,473 
________________________
(1)This amount represents the maximum number of shares that may be issued under outstanding performance unit awards; however, the actual number of shares which may be issued will be determined based on the satisfaction of certain conditions, and therefore may be significantly lower.
Schedule Of Share Based Payment Award Performance Units Valuation Assumptions [Table Text Block]
2025 PSUs2024 PSUs2023 PSUs
Tranche 2Tranche 1Tranche 3Tranche 2Tranche 1
Risk-free interest rate (1)4.7 %4.9 %3.7 %5.2 %4.0 %2.6 %
Expected term3 years2 years3 years1 year2 years3 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.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] :
Grant Date Fair Value per PSUYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average grant date fair value per share of PSUs granted
$13.27 $8.30 $11.13 
The weighted-average grant date fair value per share of RSUs granted in 2025, 2024 and 2023 are as follows:
Grant Date Fair Value per ShareYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Weighted-average grant date fair value per share of RSUs granted$12.32 $8.36 $10.63 
Share-based Payment Arrangement, Cost by Plan [Table Text Block]
The total PSU expense and associated tax benefit recorded in 2025, 2024 and 2023 are as follows:
Performance UnitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Expense$10.1 $6.7 $3.2 
Tax benefit2.5 1.7 0.8 
The total RSU expense and associated tax benefit recorded in 2025, 2024 and 2023 are as follows:
Restricted Stock UnitsYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Expense$13.4 $18.2 $17.6 
Tax benefit3.3 4.5 4.4 
Schedule Of Share Based Compensation Performance Units Award Activity [Table Text Block]
The 2025 PSU activity is as follows:
Maximum Number of Shares of Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value per Unit
Nonvested as of February 23, 20241,299,988 $9.51 
Granted1,887,648 13.27 
Vested(456,578)10.77 
Forfeited(105,600)11.20 
Performance adjustments (1)(520,942)12.17 
Nonvested as of February 28, 20252,104,516 $11.84 
________________________
(1)This amount represents the difference between the maximum number of shares that could have been issued for the 2023 PSUs and the number of shares actually earned based on final performance, as modified.
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] The 2025 RSU activity is as follows:
Nonvested UnitsTotalWeighted-Average
Grant Date
Fair Value
per Share
Nonvested as of February 23, 20243,151,634 $9.59 
Granted1,186,304 12.32 
Vested(1,202,796)11.64 
Forfeited(86,185)9.58 
Nonvested as of February 28, 20253,048,957 $9.85 
v3.25.1
Leases (Tables)
 12 Months Ended
Feb. 28, 2025
Leases [Abstract]  
Lease, Cost [Table Text Block]
The components of lease expense are as follows:
Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Operating lease cost$50.4 $53.9 $51.9 
Sublease rental income(5.1)(2.4)(2.2)
$45.3 $51.5 $49.7 
Lessee, lease, supplemental cash flow and other information [Table Text Block]
Supplemental cash flow and other information related to leases is as follows:
Year Ended
February 28,
2025		February 23,
2024		February 24,
2023
Cash flow information:
Operating cash flows used for operating leases$53.3 $55.8 $53.1 
Leased assets obtained in exchange for new operating lease obligations$36.8 $20.9 $39.1 
Lessee, Operating Lease, Liability, to be Paid, Maturity
The following table summarizes the future minimum lease payments as of February 28, 2025:
Fiscal Year Ending in February
Amount (1)
2026$46.7 
202741.1 
202831.8 
202922.1 
203017.7 
Thereafter13.6 
Total lease payments173.0 
Less: Interest(19.4)
Present value of lease liabilities$153.6 
_______________________________________
(1)Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced.
v3.25.1
Business Combinations and Asset Acquisitions (Tables)
 12 Months Ended
Feb. 28, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]
The following table summarizes the purchased identified intangible assets and the respective fair value and useful life of each asset at the date of acquisition:
Other Intangible Assets
Useful Life
(Years)		Fair Value
Dealer relationships10.0$21.5 
Trademark9.014.0 
Know-how and designs9.012.0 
Backlog0.74.3 
$51.8 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
Fiscal Year Ending in FebruaryAmount
2026$17.1 
202717.0 
202813.8 
202911.0 
20307.5 
$66.4 
Future events, such as acquisitions, divestitures or impairments, may cause these amounts to vary.
The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of February 28, 2025:
Fiscal Year Ending in FebruaryAmount
2026$5.1 
20275.0 
20285.0 
20295.0 
20305.0 
$25.1 
v3.25.1
Reportable Segments (Tables)
 12 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
Reportable Segment Data
Americas  InternationalConsolidated  
2025
Total assets1,848.0 482.4 2,330.4 
Capital expenditures34.0 13.1 47.1 
Depreciation and amortization57.6 23.2 80.8 
2024
Total assets1,705.5 531.2 2,236.7 
Capital expenditures34.1 13.0 47.1 
Depreciation and amortization58.5 25.1 83.6 
2023
Total assets1,631.2 571.6 2,202.8 
Capital expenditures41.9 17.2 59.1 
Depreciation and amortization64.6 25.4 90.0 
Long-lived Assets by Geographic Areas [Table Text Block]
Reportable geographic information is as follows:
Reportable Geographic DataYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Long-lived assets (1):
United States$258.3 $318.0 $358.3 
Foreign locations211.0 203.5 216.5 
$469.3 $521.5 $574.8 
_______________________________________
(1)Long-lived assets include property, plant and equipment and right-of-use operating lease assets.
v3.25.1
Restructuring and Related Activities (Tables)
 12 Months Ended
Feb. 28, 2025
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Reserve by Type of Cost
The following table details the changes in the restructuring reserve balance during 2025 and 2024:
Workforce reductionsBusiness exit and related costsTotal
Balance as of February 24, 2023$4.0 $— $4.0 
Additions
21.8 0.2 22.0 
Payments(13.4)(0.2)(13.6)
Adjustments(0.1)— (0.1)
Balance as of February 23, 2024$12.3 $— $12.3 
Additions
9.4 2.4 11.8 
Payments(17.2)(2.4)(19.6)
Adjustments(1.6)— (1.6)
Balance as of February 28, 2025$2.9 $— $2.9 
v3.25.1
Organization, Consolidation and Presentation of Financial Statements (Tables)
 12 Months Ended
Feb. 23, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Quarterly Financial Information [Table Text Block]
Unaudited Quarterly ResultsFirst  
Quarter  		Second  
Quarter  		Third  
Quarter  		Fourth  
Quarter  		Total  
2025
Revenue$727.3 $855.8 $794.9 $788.0 $3,166.0 
Gross profit234.4 295.4 265.4 251.3 1,046.5 
Operating income17.6 90.0 41.0 9.5 158.1 
Net income10.9 63.1 19.1 27.6 120.7 
Basic earnings per share0.09 0.53 0.16 0.23 1.02 
Diluted earnings per share0.09 0.53 0.16 0.23 1.02 
2024
Revenue$751.9 $854.6 $777.9 $775.2 $3,159.6 
Gross profit234.6 283.4 252.3 242.1 1,012.4 
Operating income7.3 41.0 43.8 25.7 117.8 
Net income1.5 27.5 30.8 21.3 81.1 
Basic earnings per share0.01 0.23 0.26 0.18 0.68 
Diluted earnings per share0.01 0.23 0.26 0.18 0.68 
v3.25.1
Nature of Operations (Details)
Feb. 28, 2025
Nature of Operations [Abstract]  
Entity Number of Employees 11,300
Number of Principal Locations 22
Number of Distribution Locations 790
v3.25.1
Summary of Significant Accounting Policies (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Feb. 25, 2022
Accounting Policies [Line Items]        
Restricted Cash $ 7.5 $ 7.3 $ 6.8 $ 6.1
Worker's Compensation Liability, associated receivable 1.6 1.7    
Workers' Compensation Liability, Current 1.7 1.3    
Workers' Compensation Liability, Noncurrent 4.2 5.2    
Workers' Compensation Liability 5.9 6.5    
Workers' Compensation Liability, net of associated receivables 4.3 4.8    
Loss Contingency Accrual, Product Liability, associated receivables 0.2 0.3    
Loss Contingency Accrual, Product Liability, Gross 1.0 1.2    
Loss Contingency Accrual, Product Liability, Net 0.8 0.9    
Standard and Extended Product Warranty Accrual 32.5 33.7 28.6  
Standard and Extended Product Warranty Accrual, Increase for Warranties Issued 23.3 28.5    
Standard and Extended Product Warranty Accrual, Decrease for Payments (24.4) (23.5)    
Standard and Extended Product Warranty Accrual, Foreign Currency Translation Gain (Loss) (0.1) 0.1    
Product Warranty Accrual, Noncurrent   17.3    
Accrued Environmental Loss Contingencies, Current $ 1.8 0.6    
Accrual for Environmental Loss Contingencies, Discount Rate 3.50%      
Accrual for Environmental Loss Contingencies, Gross $ 4.9 3.1    
Research and Development Expense 50.4 48.2 44.4  
Debt, Long-term and Short-term, Combined Amount 447.1 446.3    
Long-term Debt, Fair Value 432.8 423.0    
Foreign Currency Fair Value Hedge Derivative at Fair Value, Net [1] (0.6) 0.3    
Derivative, Notional Amount 90.7 94.0    
Operating expenses (888.0) (876.5) (837.2)  
Other income (expense), net 12.0 (8.7) (13.5)  
Forward Contracts [Member]        
Accounting Policies [Line Items]        
Cost of sales (2.2) 3.4 2.6  
Operating expenses (0.5) (0.9) (0.6)  
Other income (expense), net 0.7 (0.5) (1.1)  
Derivative, Gain (Loss) on Derivative, Net (2.0) 3.8 $ 2.1  
Other Current Liabilities [Member]        
Accounting Policies [Line Items]        
Loss Contingency Accrual 0.2 0.2    
Other Noncurrent Liabilities [Member]        
Accounting Policies [Line Items]        
Loss Contingency Accrual 0.8 1.0    
Accrued Environmental Loss Contingencies, Noncurrent 3.1 2.3    
Liability        
Accounting Policies [Line Items]        
Total environmental contingencies (discounted) 4.9 2.9    
Fair Value, Recurring [Member]        
Accounting Policies [Line Items]        
Restricted Cash 7.5 7.3    
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Accounting Policies [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.8 0.8    
Foreign Currency Contracts, Liability, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]        
Accounting Policies [Line Items]        
Restricted Cash 7.5 7.3    
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Accounting Policies [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.0 0.0    
Foreign Currency Contracts, Liability, Fair Value Disclosure 0.0 0.0    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]        
Accounting Policies [Line Items]        
Restricted Cash 0.0 0.0    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Accounting Policies [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.8 0.8    
Foreign Currency Contracts, Liability, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Other Current Assets | Foreign Exchange Contract [Member]        
Accounting Policies [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.8 0.7    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Other Noncurrent Assets | Foreign Exchange Contract [Member]        
Accounting Policies [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure $ 0.0 $ 0.1    
Minimum [Member]        
Accounting Policies [Line Items]        
Standard Product Warranty Description three years      
Minimum [Member] | Combined accounts of our equity method investments in unconsolidated affiliates        
Accounting Policies [Line Items]        
Equity Method Investment, Ownership Percentage 20.00%      
Maximum [Member]        
Accounting Policies [Line Items]        
Standard Product Warranty Description lifetime      
Maximum [Member] | Combined accounts of our equity method investments in unconsolidated affiliates        
Accounting Policies [Line Items]        
Equity Method Investment, Ownership Percentage 50.00%      
[1] The notional amounts of the outstanding foreign exchange forward contracts were $90.7 as of February 28, 2025 and $94.0 as of February 23, 2024.
v3.25.1
New Accounting Standards (Details)
 12 Months Ended
Feb. 28, 2025
Accounting Changes and Error Corrections [Abstract]  
New Accounting Pronouncement or Change in Accounting Principle, Description We evaluate all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability to our consolidated financial statements. We have assessed all ASUs issued but not yet adopted and concluded that those not disclosed are either not applicable to us or are not expected to have a material effect on our consolidated financial statements. Adoption of New Accounting StandardsIn 2025, we adopted ASU No. 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures, which is intended to improve disclosures related to significant segment expenses and the information used by the chief operating decision maker ("CODM") to assess segment performance and to allocate resources. We adopted this guidance on a retrospective basis, which modified our annual disclosures beginning in 2025 but did not have a material effect on our consolidated financial statements. See Note 20 to the consolidated financial statements for additional information.Accounting Standards Issued But Not Yet AdoptedIn November 2024, the FASB issued ASU No. 2024-03, Income Statement (Subtopic 220-40) - Reporting Comprehensive Income - Expense Disaggregation Disclosures, which is intended to improve disclosures through disaggregation of certain commonly presented expense captions. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, which was clarified in ASU 2025-01. We expect the adoption of this guidance will modify our disclosures, but we do not expect it to have a material effect on our consolidated financial statements.In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures, which is intended to improve income tax disclosures, specifically related to additional detail required in the effective tax rate reconciliation and the disaggregation of income taxes paid. The guidance is effective for fiscal years beginning after December 15, 2024. We expect the adoption of this guidance will modify our disclosures, but we do not expect it to have a material effect on our consolidated financial statements.
v3.25.1
Revenue (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Disaggregation of Revenue [Line Items]                      
Revenue $ 788.0 $ 794.9 $ 855.8 $ 727.3 $ 775.2 $ 777.9 $ 854.6 $ 751.9 $ 3,166.0 $ 3,159.6 $ 3,232.6
Sales represented by an individual customer                 5.00%    
Contract with Customer, Liability $ 43.0       $ 44.8       $ 43.0 44.8 50.8
Increase (Decrease) in Contract with Customer, Liability                 (1.4) (4.1) (24.9)
Deposits [Member]                      
Disaggregation of Revenue [Line Items]                      
Contract with Customer, Liability, Revenue Recognized                 (41.8) (48.3)  
Increase (Decrease) in Contract with Customer, Liability                 40.0 44.3  
Transferred at Point in Time                      
Disaggregation of Revenue [Line Items]                      
Increase (Decrease) in Contract with Customer, Liability                   (2.0)  
UNITED STATES                      
Disaggregation of Revenue [Line Items]                      
Revenue                 2,292.2 2,249.0 2,258.7
Foreign locations [Member]                      
Disaggregation of Revenue [Line Items]                      
Revenue                 873.8 910.6 973.9
Americas [Member]                      
Disaggregation of Revenue [Line Items]                      
Revenue                 2,465.2 2,419.8 2,436.2
International                      
Disaggregation of Revenue [Line Items]                      
Revenue                 $ 700.8 739.8 796.4
Sales represented by an individual county                 5.00%    
Systems and storage [Member] | Americas [Member]                      
Disaggregation of Revenue [Line Items]                      
Revenue                 $ 1,108.3 1,059.4 1,089.7
Systems and storage [Member] | International                      
Disaggregation of Revenue [Line Items]                      
Revenue                 232.6 255.6 262.5
Seating [Member] | Americas [Member]                      
Disaggregation of Revenue [Line Items]                      
Revenue                 662.5 643.6 692.4
Seating [Member] | International                      
Disaggregation of Revenue [Line Items]                      
Revenue                 272.0 261.8 290.0
Other Product Category [Member] | Americas [Member]                      
Disaggregation of Revenue [Line Items]                      
Revenue [1]                 694.4 716.8 654.1
Other Product Category [Member] | International                      
Disaggregation of Revenue [Line Items]                      
Revenue [1]                 $ 196.2 $ 222.4 $ 243.9
[1] The other product category data by segment consists primarily of third-party products, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories.
v3.25.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Schedule of Earnings Per Share [Line Items]                      
Net income $ 27.6 $ 19.1 $ 63.1 $ 10.9 $ 21.3 $ 30.8 $ 27.5 $ 1.5 $ 120.7 $ 81.1 $ 35.3
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic                 $ (4.0) $ (3.1) $ (1.3)
Adjustment for participating securities (in millions)                 (3.9) (4.6) (4.3)
Net Income (Loss) Available to Common Stockholders, Basic                 $ 116.7 $ 78.0 $ 34.0
Basic $ 0.23 $ 0.16 $ 0.53 $ 0.09 $ 0.18 $ 0.26 $ 0.23 $ 0.01 $ 1.02 $ 0.68 $ 0.30
Diluted $ 0.23 $ 0.16 $ 0.53 $ 0.09 $ 0.18 $ 0.26 $ 0.23 $ 0.01 $ 1.02 $ 0.68 $ 0.30
Including antidilutive securities                      
Schedule of Earnings Per Share [Line Items]                      
Shares used in calculating basic earnings per share (in millions)                 117.9 118.6 117.1
Weighted Average Number of Shares Outstanding, Diluted                 118.9 119.1 117.5
Excluding antidilutive securities                      
Schedule of Earnings Per Share [Line Items]                      
Shares used in calculating basic earnings per share (in millions)                 114.0 114.0 112.8
Weighted Average Number of Shares Outstanding, Diluted                 115.0 114.5 113.2
v3.25.1
Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated Other Comprehensive Income (Loss), Net of Tax $ (63.5) $ (66.9) $ (72.5)
Other comprehensive income (loss) before reclassifications (7.8) 6.3  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (11.2) 0.7  
Income tax expense 13.5 26.0 16.3
Interest Expense, Operating and Nonoperating 25.7 25.9 28.4
Total other comprehensive income (loss), net 3.4 5.6 (21.9)
Reclassification out of Accumulated Other Comprehensive Income [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (11.2) 0.7  
Reclassification out of Accumulated Other Comprehensive Income [Member] | Minimum pension liability [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (10.3) 1.7  
Income tax expense (2.9) 0.6  
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (0.9) (1.0)  
Income tax expense (0.4) (0.3)  
Actuarial Loss [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Minimum pension liability [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other Income 12.4 (2.3)  
Prior Service Costs [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Minimum pension liability [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other Income 0.8 0.0  
Derivative [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Interest Expense, Operating and Nonoperating 1.3 1.3  
Unrealized gain on investments [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated Other Comprehensive Income (Loss), Net of Tax 1.0 0.4 (0.1)
Other comprehensive income (loss) before reclassifications 0.6 0.5  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0.0 0.0  
Total other comprehensive income (loss), net 0.6 0.5  
Minimum pension liability [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated Other Comprehensive Income (Loss), Net of Tax 15.2 5.9 9.3
Other comprehensive income (loss) before reclassifications (1.0) (1.7)  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (10.3) 1.7  
Total other comprehensive income (loss), net 9.3 (3.4)  
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated Other Comprehensive Income (Loss), Net of Tax (3.8) (4.7) (5.7)
Other comprehensive income (loss) before reclassifications 0.0 0.0  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax (0.9) (1.0)  
Total other comprehensive income (loss), net 0.9 1.0  
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Accumulated Other Comprehensive Income (Loss), Net of Tax (75.9) (68.5) $ (76.0)
Other comprehensive income (loss) before reclassifications (7.4) 7.5  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0.0 0.0  
Total other comprehensive income (loss), net $ (7.4) $ 7.5  
v3.25.1
Fair Value (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Feb. 25, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]        
Restricted Cash $ 7.5 $ 7.3 $ 6.8 $ 6.1
Unrealized gain (loss) on investments (0.6) (0.7) 0.5  
Viccarbe Habitat, S.L. Q3 FY22        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Business Combination, Contingent Consideration, Liability 13.6      
Auction Rate Securities [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Available-for-sale Securities, Par Value 3.2      
Debt Securities, Available-for-Sale, Realized Loss 0.9      
Unrealized gain (loss) on investments 0.5      
Estimated Reduction in Fair Value due to a One Hundred Basis Point Increase in Discount Rate 0.3      
Fair Value, Recurring [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Cash and cash equivalents 346.3 318.6    
Restricted Cash 7.5 7.3    
Assets, Fair Value Disclosure 399.0 329.5    
Liabilities, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.8 0.8    
Foreign Currency Contracts, Liability, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Recurring [Member] | Auction Rate Securities [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Auction rate security 2.8 2.8    
Fair Value, Recurring [Member] | Debt Security, Corporate, US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 18.0      
Fair Value, Recurring [Member] | US Treasury Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 9.3      
Fair Value, Recurring [Member] | Asset-Backed Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 8.6      
Fair Value, Recurring [Member] | Debt Security, Corporate, Non-US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 5.7      
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Cash and cash equivalents 346.3 318.6    
Restricted Cash 7.5 7.3    
Assets, Fair Value Disclosure 363.1 325.9    
Liabilities, Fair Value Disclosure 0.0 0.0    
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.0 0.0    
Foreign Currency Contracts, Liability, Fair Value Disclosure 0.0 0.0    
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Auction Rate Securities [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Auction rate security 0.0 0.0    
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 9.3      
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Asset-Backed Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, Non-US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Cash and cash equivalents 0.0 0.0    
Restricted Cash 0.0 0.0    
Assets, Fair Value Disclosure 33.1 0.8    
Liabilities, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.8 0.8    
Foreign Currency Contracts, Liability, Fair Value Disclosure (1.4) (0.5)    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Auction Rate Securities [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Auction rate security 0.0 0.0    
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 18.0      
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Asset-Backed Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 8.6      
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, Non-US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 5.7      
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Cash and cash equivalents 0.0 0.0    
Restricted Cash 0.0 0.0    
Assets, Fair Value Disclosure 2.8 2.8    
Liabilities, Fair Value Disclosure 0.0 0.0    
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Foreign Currency Contract, Asset, Fair Value Disclosure 0.0 0.0    
Foreign Currency Contracts, Liability, Fair Value Disclosure 0.0 0.0    
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Auction Rate Securities [Member]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Auction rate security 2.8 2.8 2.1  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss) 0.0 0.7    
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain] | Viccarbe Habitat, S.L. Q3 FY22 | Fair Value, Disclosure Item Amounts [Domain]        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0.0 (9.5)    
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain] | Viccarbe Habitat, S.L. Q3 FY22        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Contingent Consideration Classified as Equity, Fair Value Disclosure 0.0 $ 0.0 $ (9.5)  
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Asset-Backed Securities        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale 0.0      
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Debt Security, Corporate, Non-US        
Fair Value, Option, Quantitative Disclosures [Line Items]        
Debt Securities, Available-for-Sale $ 0.0      
v3.25.1
Inventories (Details) - USD ($)
$ in Millions
Feb. 28, 2025
Feb. 23, 2024
Inventory Disclosure [Abstract]    
Raw Materials and Work in Process $ 166.8 $ 164.5
Finished goods 108.1 95.9
Inventories, gross 274.9 260.4
LIFO reserve (29.2) (29.4)
Inventories 245.7 231.0
LIFO Inventory Amount $ 118.2 $ 111.7
v3.25.1
Property, Plant And Equipment (Details) - USD ($)
$ in Millions
Feb. 28, 2025
Feb. 23, 2024
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 1,460.9 $ 1,472.1
Property, plant and equipment, accumulated depreciation (1,132.8) (1,119.2)
Property, plant and equipment, net 328.1 352.9
Land and Land Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 31.1 33.8
Machinery and Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross 744.4 759.0
Property, plant and equipment, net $ 132.4 141.6
Machinery and Equipment [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 3 years  
Machinery and Equipment [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 15 years  
Building and Building Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 414.9 413.4
Property, plant and equipment, net $ 86.8 92.1
Building and Building Improvements [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 10 years  
Building and Building Improvements [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 40 years  
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 90.2 86.9
Leasehold Improvements [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 3 years  
Leasehold Improvements [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 15 years  
Software and Software Development Costs [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 82.5 83.3
Software and Software Development Costs [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 3 years  
Software and Software Development Costs [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 10 years  
Furniture and Fixtures [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 68.1 65.5
Furniture and Fixtures [Member] | Minimum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 5 years  
Furniture and Fixtures [Member] | Maximum [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Useful Life 8 years  
Construction in Progress [Member]    
Property, Plant and Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 29.7 $ 30.2
v3.25.1
Property, Plant And Equipment Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, net $ 328.1 $ 352.9  
Depreciation 63.3 66.0 $ 67.0
Gain (Loss) on Disposition of Property Plant Equipment 41.0 10.9 $ 12.9
Construction in Progress, Estimated Cost to Complete 32.6 32.2  
Machinery and Equipment [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, net 132.4 141.6  
Building and Building Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, net $ 86.8 $ 92.1  
v3.25.1
Company-Owned Life Insurance (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Company Owned Life Insurance [Line Items]      
Company-owned life insurance ("COLI") $ 170.4 $ 166.9  
Operating Expense [Member]      
Company Owned Life Insurance [Line Items]      
COLI Investment Income 9.7 10.5 $ 0.8
Whole Life [Member]      
Company Owned Life Insurance [Line Items]      
Company-owned life insurance ("COLI") 106.0 106.9  
Variable Life [Member]      
Company Owned Life Insurance [Line Items]      
Company-owned life insurance ("COLI") $ 64.4 $ 60.0  
v3.25.1
Goodwill & Other Intangible Assets Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Goodwill [Roll Forward]      
Goodwill, Other Increase (Decrease)   $ (2.5)  
Currency translation adjustments $ (1.3) 0.5  
Goodwill 595.0 596.3  
Accumulated impairment losses (321.5) (321.5)  
Goodwill, net 273.5 274.8 $ 276.8
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross 183.2 209.5  
Finite-lived intangible assets, accumulated amortization 106.3 115.0  
Finite-lived intangible assets, net 76.9 94.5  
Indefinite-lived intangible assets, gross 0.1 0.1  
Indefinite-lived intangible assets, accumulated amortization 0.0 0.0  
Indefinite-lived intangible assets, net 0.1 0.1  
Other intangible assets, gross 183.3 209.6  
Other intangible assets, net 77.0 94.6  
Intangible assets amortization expense 17.4 17.2 22.8
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Expected Amortization, Year One 17.1    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 17.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Three 13.8    
Finite-Lived Intangible Asset, Expected Amortization, Year Four 11.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Five 7.5    
Finite-Lived Intangible Assets, Amortization Expense, Next Five Years 66.4    
Americas [Member]      
Goodwill [Roll Forward]      
Goodwill, Other Increase (Decrease)   (2.5)  
Currency translation adjustments (1.0) 0.3  
Goodwill 291.7 292.7  
Accumulated impairment losses (26.6) (26.6)  
Goodwill, net 265.1 266.1 268.3
International      
Goodwill [Roll Forward]      
Goodwill, Other Increase (Decrease)   0.0  
Currency translation adjustments (0.3) 0.2  
Goodwill 303.3 303.6  
Accumulated impairment losses (294.9) (294.9)  
Goodwill, net 8.4 8.7 $ 8.5
Dealer relationships [Member]      
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross 84.7 84.9  
Finite-lived intangible assets, accumulated amortization 43.8 36.0  
Finite-lived intangible assets, net $ 40.9 48.9  
Dealer relationships [Member] | Weighted Average      
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Useful Life 10 years 9 months    
Trademarks [Member]      
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross $ 53.3 60.5  
Finite-lived intangible assets, accumulated amortization 33.8 35.9  
Finite-lived intangible assets, net $ 19.5 24.6  
Trademarks [Member] | Weighted Average      
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Useful Life 9 years 8 months    
Know-How/Design [Member]      
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross $ 35.7 35.8  
Finite-lived intangible assets, accumulated amortization 19.9 15.9  
Finite-lived intangible assets, net $ 15.8 19.9  
Know-How/Design [Member] | Weighted Average      
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Useful Life 9 years    
Patented Technology [Member]      
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross $ 4.0 15.4  
Finite-lived intangible assets, accumulated amortization 3.3 14.3  
Finite-lived intangible assets, net $ 0.7 1.1  
Patented Technology [Member] | Weighted Average      
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Useful Life 10 years    
Other Intangible Assets [Member]      
Schedule Of Intangible Assets By Major ClassLine Items [Line Items]      
Finite-lived intangible assets, gross $ 5.5 [1] 12.9  
Finite-lived intangible assets, accumulated amortization 5.5 [1] 12.9  
Finite-lived intangible assets, net $ 0.0 [1] $ 0.0  
Other Intangible Assets [Member] | Weighted Average      
Estimated Amortization Expense, Fiscal Year Maturity [Abstract]      
Finite-Lived Intangible Asset, Useful Life 5 years 6 months    
[1] In 2024, we sold a consolidated dealer, resulting in a decrease of intangible assets in the Americas
v3.25.1
Investments In Unconsolidated Affiliates (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investments $ 43.3       $ 45.7       $ 43.3 $ 45.7  
Investments and Other Noncurrent Assets 10.0       10.0       10.0 10.0  
Investments in unconsolidated affiliates 53.3       55.7       53.3 55.7  
Equity in income of unconsolidated affiliates                 9.2 13.5 $ 12.5
Equity Method Investment, Summarized Financial Information, Current Assets 1,029.0       959.4       1,029.0 959.4  
Total assets 2,330.4       2,236.7       2,330.4 2,236.7 2,202.8
Equity Method Investment, Summarized Financial Information, Current Liabilities 669.1       607.1       669.1 607.1  
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities 709.6       742.5       709.6 742.5  
Equity Method Investment, Summarized Financial Information, Liabilities 1,378.7       1,349.6       1,378.7 1,349.6  
Revenue 788.0 $ 794.9 $ 855.8 $ 727.3 775.2 $ 777.9 $ 854.6 $ 751.9 3,166.0 3,159.6 3,232.6
Gross profit 251.3 $ 265.4 $ 295.4 $ 234.4 242.1 $ 252.3 $ 283.4 $ 234.6 1,046.5 1,012.4 919.4
Dividends received from unconsolidated affiliates                 11.3 9.6 7.8
Sales to unconsolidated affiliates                 265.6 247.7 259.5
Amount due from unconsolidated affiliates 26.8       19.6       26.8 19.6 22.5
Combined accounts of our equity method investments in unconsolidated affiliates                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Summarized Financial Information, Current Assets 219.8       232.4       219.8 232.4  
Equity Method Investment, Summarized Financial Information, Noncurrent Assets 108.2       102.0       108.2 102.0  
Total assets 328.0       334.4       328.0 334.4  
Equity Method Investment, Summarized Financial Information, Current Liabilities 157.0       152.7       157.0 152.7  
Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities 29.3       44.4       29.3 44.4  
Equity Method Investment, Summarized Financial Information, Liabilities 186.3       197.1       186.3 197.1  
Revenue                 627.8 710.1 755.3
Gross profit                 155.4 165.0 174.8
Equity Method Investment, Summarized Financial Information, Income (Loss) before income tax                 31.6 28.3 39.0
Equity Method Investment, Summarized Financial Information, Net Income (Loss)                 29.7 26.5 37.5
Equity Method Investee, Total Dealers [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity in income of unconsolidated affiliates                 7.6 11.8 9.7
Equity Method Investee, Manufacturing Joint Ventures [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity in income of unconsolidated affiliates                 1.6 1.7 2.7
Equity Method Investee, Other [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity in income of unconsolidated affiliates                 0.0 0.0 $ 0.1
Equity Method Investee, Total Dealers [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investments $ 33.4       $ 36.1       $ 33.4 $ 36.1  
Equity Method Investee, Total Dealers [Member] | Minimum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 25.00%       25.00%       25.00% 25.00%  
Equity Method Investee, Total Dealers [Member] | Maximum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 40.00%       40.00%       40.00% 40.00%  
Equity Method Investee, Manufacturing Joint Ventures [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investments $ 9.9       $ 9.6       $ 9.9 $ 9.6  
Equity Method Investment, Ownership Percentage 49.00%       49.00%       49.00% 49.00%  
Cost Method Investee, Total Dealers [Member] [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Investments and Other Noncurrent Assets $ 5.8       $ 5.8       $ 5.8 $ 5.8  
Cost Method Investee, Total Dealers [Member] [Member] | Minimum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 1.00%       1.00%       1.00% 1.00%  
Cost Method Investee, Total Dealers [Member] [Member] | Maximum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 10.00%       10.00%       10.00% 10.00%  
Cost Method Investee, Other [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Investments and Other Noncurrent Assets $ 4.2       $ 4.2       $ 4.2 $ 4.2  
Cost Method Investee, Other [Member] | Minimum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 1.00%       1.00%       1.00% 1.00%  
Cost Method Investee, Other [Member] | Maximum [Member]                      
Schedule of Investments in Unconsolidated Affiliates [Line Items]                      
Equity Method Investment, Ownership Percentage 10.00%       10.00%       10.00% 10.00%  
v3.25.1
Short-Term Borrowings And Long-Term Debt (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Debt Instrument [Line Items]      
Debt, Long-term and Short-term, Combined Amount $ 447.1 $ 446.3  
Long-term Debt 447.1 446.3  
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months 0.0    
Long-term Debt, Maturities, Repayments of Principal in Year Two 0.0    
Long-term Debt, Maturities, Repayments of Principal in Year Three 0.0    
Long-term Debt, Maturities, Repayments of Principal in Year Four 450.0    
Long-term Debt, Maturities, Repayments of Principal in Year Five 0.0    
Amortization of Debt Issuance Costs 0.8    
Line of Credit Facility, Maximum Borrowing Capacity 300.0    
Line of Credit Facility, Additional Borrowing Capacity Available $ 150.0    
Line of Credit Facility, Covenant Terms A maximum net leverage ratio covenant, which is measured by the ratio of (x) Indebtedness less Unrestricted Cash to (y) trailing four fiscal quarter Adjusted EBITDA and is required to be less than 3.5:1. In the context of certain permitted acquisitions, we have the ability, subject to certain conditions, to increase the maximum ratio to 4.0:1 for four consecutive quarters.•A minimum interest coverage ratio covenant, which is measured by the ratio of (y) trailing four quarter Adjusted EBITDA to (z) trailing four quarter Interest Expense and is required to be no less than 3.0:1.    
Borrowings on global committed bank facility $ 0.0 69.0 $ 565.2
Line of Credit Facility, Covenant Compliance we were in compliance with all covenants under the facility.    
Line of Credit      
Debt Instrument [Line Items]      
Letters of Credit Outstanding, Amount $ 0.1    
Line of Credit | United States of America, Dollars      
Debt Instrument [Line Items]      
Line of Credit Facility, Interest Rate Description the Applicable Floating Rate Margin in effect, plus the greatest of (i) the Prime Rate, (ii) the NYFRB plus 0.5%, (iii) the Term SOFR Rate for a one-month interest period plus 1.10% or (iv) 1.00%;•the Applicable Term Benchmark/RFR Margin in effect plus (i) for borrowings in U.S. dollars, the Term SOFR Rate plus 0.10%, or (ii) for borrowings in euros, the Adjusted EURIBOR Rate; or•in limited circumstances, the Applicable Term Benchmark/RFR Margin in effect plus the Daily Simple SOFR Rate plus 0.10%.    
United States of America, Dollars | Senior Notes      
Debt Instrument [Line Items]      
Debt Instrument, Interest Rate, Stated Percentage 5.125%    
Senior Notes $ 447.1 $ 446.3  
Debt, Long-term and Short-term, Combined Amount 450.0    
Debt Instrument, Face Amount $ 450.0    
Debt Instrument, Purchase Price as a Percentage of Par Value   99.213%  
Debt Instrument, Discount   $ 3.5  
Payments of Debt Issuance Costs   4.0  
Debt Instrument, Interest Rate, Effective Percentage 5.60%    
Debt Instrument, Unamortized Discount and Debt Issuance Costs $ 2.9    
United States of America, Dollars | Notes Payable, Other Payables [Member]      
Debt Instrument [Line Items]      
Notes Payable 0.0 [1] 0.0  
United States of America, Dollars | Line of Credit      
Debt Instrument [Line Items]      
Other committed bank facility (2) 0.0 [2] $ 0.0  
United States of America, Dollars | Revolving Credit Facilities short term, secured uncommitted [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity 4.0    
Foreign Currency [Domain] | Revolving Credit Facilities short term, unsecured uncommitted [Member]      
Debt Instrument [Line Items]      
Line of Credit Facility, Maximum Borrowing Capacity $ 19.7    
[1] We made a balloon payment of $31.8, which repaid this note payable in 2024.
[2] This facility related to a consolidated dealer that we sold in 2024.
v3.25.1
Employee Benefit Plan Obligations (Details) - USD ($)
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Contribution Obligation $ 34,300,000 $ 34,300,000 $ 27,100,000  
Deferred Compensation Liability, Current and Noncurrent 52,000,000.0 52,000,000.0 49,700,000  
Employee Benefit Plan Obligations, Total 150,100,000 150,100,000 142,900,000  
Defined Benefit Plan, Assets for Plan Benefits 300,000 300,000 1,500,000  
Employee benefit plan obligations 49,700,000 49,700,000 39,900,000  
Liability, Defined Benefit Plan, Noncurrent 100,700,000 100,700,000 104,500,000  
Liability, Defined Benefit Plan 150,400,000 150,400,000 144,400,000  
Defined Contribution Plan, Cost   $ 44,600,000 38,400,000 $ 26,100,000
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year, Description   46.4    
Defined Benefit Plan, Plan Assets, Amount 300,000 $ 300,000 22,800,000  
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 16,400,000 16,400,000 4,600,000 9,100,000
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax   1,000,000.0 1,600,000  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax   800,000    
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax   (12,400,000) 2,300,000  
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax   (800,000)    
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax   11,400,000 (3,900,000)  
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Minimum Pension Liability, Tax (1,200,000) (1,200,000) 1,300,000 200,000
Defined Benefit Plan, Accumulated Other Comprehensive Income Minimum Pension Liability, after Tax (Deprecated 2017-01-31) $ 15,200,000 15,200,000 5,900,000 9,300,000
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, Tax   (200,000)    
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Pension Cost, Net of Tax   600,000    
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, Tax   (200,000)    
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, after Tax   600,000    
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax   200,000 400,000  
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax   (800,000) (1,200,000)  
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, Tax   (2,700,000) 600,000  
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, after Tax   9,700,000 (1,700,000)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), Tax   (2,500,000) 1,000,000.0  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), after Tax   8,900,000 (2,900,000)  
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Adjustments, before Tax   (400,000) (600,000)  
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Adjustments, Tax   200,000 100,000  
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Adjustments,after Tax   (200,000) (500,000)  
Pension and other post-retirement liability adjustments   11,800,000 (4,500,000) 5,500,000
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Tax   (2,500,000) (1,100,000)  
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax   $ 9,300,000 $ (3,400,000) 4,100,000
Defined Benefit Plan, Health Care Cost Trend Rate Assumed, Next Fiscal Year 7.22% 7.22% 6.83%  
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate 4.50% 4.50% 4.50%  
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax $ 15,200,000      
Income tax expense   $ 13,500,000 $ 26,000,000.0 16,300,000
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage 100.00% 100.00% 100.00%  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 100.00% 100.00% 100.00%  
Deferred Compensation Arrangement with Individual, Compensation Expense   $ (5,500,000) $ (7,700,000) (2,900,000)
Fair Value, Inputs, Level 1 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount $ 300,000 300,000 300,000  
Fair Value, Inputs, Level 2 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount 0 0 0  
Fair Value, Inputs, Level 3 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount $ 0 $ 0 22,500,000  
Insurance buy-in policy        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount     $ 22,500,000  
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage 0.00% 0.00% 99.00%  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 0.00% 0.00% 100.00%  
Insurance buy-in policy | Fair Value, Inputs, Level 1 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount     $ 0  
Insurance buy-in policy | Fair Value, Inputs, Level 2 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount     0  
Insurance buy-in policy | Fair Value, Inputs, Level 3 [Member] | Fair Value, Disclosure Item Amounts [Domain]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)   $ (21,800,000) 22,500,000  
Insurance buy-in policy | Fair Value, Inputs, Level 3 [Member] | Fair Value, Disclosure Item Amounts [Domain] | Foreign Currency Gain (Loss)        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)   300,000    
Insurance buy-in policy | Fair Value, Inputs, Level 3 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount $ 0 0 22,500,000 21,900,000
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Assets Transferred into (out of) Level 3   $ (1,000,000.0) (500,000)  
Insurance buy-in policy | Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Period Increase (Decrease)     $ 1,100,000  
All Other Plan Assets [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Actual Allocation, Percentage [1] 100.00% 100.00% 1.00%  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage [1] 100.00% 100.00% 0.00%  
Cash and Cash Equivalents [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount $ 300,000 $ 300,000 $ 300,000  
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount 300,000 300,000 300,000  
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount 0 0 0  
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Plan Assets, Amount 0 0 0  
U.K. defined benefit pension plan        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Income tax expense   3,400,000    
Nonqualified Plan        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Assets for Plan Benefits 0 0 0  
Employee benefit plan obligations 3,800,000 3,800,000 3,300,000  
Liability, Defined Benefit Plan, Noncurrent 16,700,000 16,700,000 18,500,000  
Liability, Defined Benefit Plan 20,500,000 20,500,000 21,800,000  
Defined Benefit Plan, Plan Assets, Amount 0 0 0  
Defined Benefit Plan, Benefit Obligation 20,500,000 20,500,000 21,800,000  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (20,500,000) (20,500,000) (21,800,000)  
Defined Benefit Plan, Accumulated Benefit Obligation 20,500,000 20,500,000 21,800,000  
Foreign Plan [Member] | Qualified Plan        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Assets for Plan Benefits 300,000 300,000 1,500,000  
Employee benefit plan obligations 400,000 400,000 300,000  
Liability, Defined Benefit Plan, Noncurrent 9,100,000 9,100,000 9,100,000  
Liability, Defined Benefit Plan 9,200,000 9,200,000 7,900,000  
Defined Benefit Plan, Plan Assets, Amount 300,000 300,000 22,800,000  
Defined Benefit Plan, Benefit Obligation 9,500,000 9,500,000 30,700,000  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (9,200,000) (9,200,000) (7,900,000)  
Defined Benefit Plan, Accumulated Benefit Obligation 6,900,000 6,900,000 28,100,000  
Other Postretirement Benefit Plans, Defined Benefit [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position 25,400,000 25,400,000 27,200,000  
Defined Benefit Plan, Assets for Plan Benefits 0 0 0  
Employee benefit plan obligations 2,600,000 2,600,000 3,500,000  
Liability, Defined Benefit Plan, Noncurrent 22,800,000 22,800,000 23,700,000  
Liability, Defined Benefit Plan 25,400,000 25,400,000 27,200,000  
Defined Benefit Plan, Plan Assets, Amount 0 0 0 0
Defined Benefit Plan, Benefit Obligation 25,400,000 25,400,000 27,200,000 27,500,000
Defined Benefit Plan, Funded (Unfunded) Status of Plan (25,400,000) (25,400,000) (27,200,000)  
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)   0 0  
Defined Benefit Plan, Plan Assets, Contributions by Employer   3,600,000 2,900,000  
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)   1,800,000 1,900,000  
Defined Benefit Plan, Plan Assets, Payment for Settlement   0 0  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)   0 0  
Defined Benefit Plan, Plan Assets, Benefits Paid   5,400,000 4,800,000  
Defined Benefit Plan, Benefits Paid from both Plan Assets and Company Assets   (5,400,000)    
Defined Benefit Plan, Service Cost   0 100,000 100,000
Defined Benefit Plan, Interest Cost   1,400,000 1,400,000 1,100,000
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) [2]   500,000 1,200,000  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)   (100,000) (100,000)  
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits   0 0  
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax (12,000,000.0) (12,000,000.0) (14,600,000)  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax 0 0 0  
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax $ (12,000,000.0) (12,000,000.0) (14,600,000)  
Defined Benefit Plan, Amortization of Gain (Loss)   (2,000,000.0) (2,500,000) (1,800,000)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)   0 0 0
Defined Benefit Plan, Expected Return (Loss) on Plan Assets   0 0 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   (600,000) (1,000,000.0) (600,000)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax   500,000 1,200,000 (5,100,000)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax   0 0 0
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax   2,000,000.0 2,500,000 1,800,000
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax   0 0 0
Losses recognized as part of the settlement/curtailments   0 0 0
Prior service cost recognized as a part of settlement/curtailments   0 0 0
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax   2,500,000 3,700,000 (3,300,000)
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax   $ 1,900,000 $ 2,700,000 $ (3,900,000)
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.23% 5.23% 5.46% 5.47%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate   5.46% 5.47% 3.38%
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 2,700,000 $ 2,700,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 2,600,000 2,600,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 2,500,000 2,500,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 2,400,000 2,400,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 2,300,000 2,300,000    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter 10,100,000 10,100,000    
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement   0 $ 0 $ 0
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits   0 0 0
Pension Plans, Defined Benefit [Member]        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position (38,400,000) (38,400,000) (38,900,000)  
Defined Benefit Plan, Assets for Plan Benefits 300,000 300,000 1,500,000  
Employee benefit plan obligations 4,200,000 4,200,000 3,600,000  
Liability, Defined Benefit Plan, Noncurrent 25,800,000 25,800,000 27,600,000  
Liability, Defined Benefit Plan 29,700,000 29,700,000 29,700,000  
Defined Benefit Plan, Plan Assets, Amount 300,000 300,000 22,800,000 22,400,000
Defined Benefit Plan, Benefit Obligation 30,000,000.0 30,000,000.0 52,500,000 53,900,000
Defined Benefit Plan, Funded (Unfunded) Status of Plan (29,700,000) (29,700,000) (29,700,000)  
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)   700,000 700,000  
Defined Benefit Plan, Plan Assets, Contributions by Employer   2,000,000.0 4,500,000  
Defined Benefit Plan, Contributions by Plan Participants (Deprecated 2017-01-31)   0 0  
Defined Benefit Plan, Plan Assets, Payment for Settlement   (21,800,000) 0  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss)   300,000 1,100,000  
Defined Benefit Plan, Plan Assets, Benefits Paid   3,700,000 5,900,000  
Defined Benefit Plan, Benefits Paid from both Plan Assets and Company Assets   (3,700,000) (5,500,000)  
Defined Benefit Plan, Service Cost   600,000 600,000 700,000
Defined Benefit Plan, Interest Cost   2,000,000.0 2,400,000 1,600,000
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) [2]   500,000 200,000  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss)   (100,000) 1,300,000  
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits   0 300,000  
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax (4,400,000) (4,400,000) 9,100,000  
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax 0 0 900,000  
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax $ (4,400,000) (4,400,000) 10,000,000.0  
Defined Benefit Plan, Amortization of Gain (Loss)   0 200,000 200,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)   0 0 500,000
Defined Benefit Plan, Expected Return (Loss) on Plan Assets   (700,000) (900,000) (400,000)
Effect of settlement/curtailments   (15,200,000) 300,000 0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)   17,100,000 2,300,000 2,600,000
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax   500,000 400,000 (1,000,000.0)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Prior Service Cost, before Tax   0 0 500,000
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax   0 (200,000) (200,000)
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, before Tax   0 0 (500,000)
Losses recognized as part of the settlement/curtailments   (14,400,000) 0 0
Prior service cost recognized as a part of settlement/curtailments   (800,000) 0 0
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss), Net Gain (Loss), before Tax   (14,700,000) 200,000 (1,200,000)
Defined Benefit Plan, Amount Recognized in Net Periodic Benefit Cost (Credit) and Other Comprehensive (Income) Loss, before Tax   $ 2,400,000 $ 2,500,000 $ 1,400,000
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.50% 4.50% 4.80% 4.80%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 0.90% 0.90% 0.50% 0.60%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate   4.80% 4.80% 2.50%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets   4.70% 4.20% 1.40%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase   0.50% 0.60% 2.50%
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 4,200,000 $ 4,200,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 3,300,000 3,300,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 3,000,000.0 3,000,000.0    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 2,900,000 2,900,000    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 3,000,000.0 3,000,000.0    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter 11,700,000 11,700,000    
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement   21,800,000 $ 700,000  
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits   0 300,000 $ 0
Multi-employer Pension Plan        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Liability, Defined Benefit Plan, Noncurrent $ 8,700,000 $ 8,700,000    
Defined Benefit Plan, Benefit Obligation     $ 11,200,000  
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 3.50% 3.50%    
[1] Represents cash and cash equivalents.
[2]
(1) In 2025 and 2024, the net actuarial loss (gain) includes amounts resulting from changes in actuarial assumptions utilized to calculate our benefit plan obligations such as weighted-average discount rates.
v3.25.1
Capital Structure (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Class of Stock [Line Items]    
Conversion of Stock, Shares Converted 0.6 0.1
Class A Common Stock [Member]    
Class of Stock [Line Items]    
Common stock repurchases, shares 2.9 0.5
Common stock repurchases $ 36.4 $ 4.2
Class B Common Stock [Member]    
Class of Stock [Line Items]    
Common stock repurchases, shares 0.0 0.0
Common stock repurchases $ 0.0 $ 0.0
v3.25.1
Income Taxes (Details) - USD ($)
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Feb. 25, 2022
Income Tax Disclosure [Abstract]        
Current Federal Tax Expense (Benefit) $ 43,600,000 $ 6,600,000 $ 1,300,000  
Current State and Local Tax Expense (Benefit) 12,800,000 3,500,000 800,000  
Current Foreign Tax Expense (Benefit) 13,900,000 14,900,000 14,900,000  
Current Income Tax Expense (Benefit) 70,300,000 25,000,000.0 17,000,000.0  
Deferred Federal Income Tax Expense (Benefit) (47,600,000) (100,000) (2,300,000)  
Deferred State and Local Income Tax Expense (Benefit) (10,600,000) (1,800,000) 1,400,000  
Deferred Foreign Income Tax Expense (Benefit) 1,400,000 2,900,000 200,000  
Deferred Income Tax Expense (Benefit) (56,800,000) 1,000,000.0 (700,000)  
Income tax expense 13,500,000 26,000,000.0 16,300,000  
Income (Loss) from Continuing Operations before Income Taxes, Domestic 95,900,000 42,300,000 2,100,000  
Foreign 38,300,000 64,800,000 49,500,000  
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 134,200,000 107,100,000 51,600,000  
U.S. federal statutory tax rate 21.00%      
Tax expense at the U.S. federal statutory rate $ 28,200,000 22,500,000 10,800,000  
State and local income taxes, net of federal tax effect 1,800,000 1,300,000 2,000,000.0  
Foreign operations, less applicable foreign tax credits (1) [1] 100,000 5,900,000 4,000,000.0  
Contingent consideration (2) 0 [2] (2,000,000.0) [2] 900,000  
Valuation allowance provisions and adjustments (3) [3] 4,900,000 1,900,000 1,000,000.0  
COLI income (4) [4] (2,000,000.0) (2,200,000) (400,000)  
Effective Income Tax Rate Reconciliation, FDII, Amount [5] (8,600,000) 0 0  
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability [6] (9,200,000) 0 0  
Officer compensation limitation 2,600,000 1,900,000 1,000,000.0  
Research tax credit (3,800,000) (3,500,000) (2,900,000)  
Other U.S. domestic tax credits (300,000) (300,000) (300,000)  
Stock compensation (700,000) 400,000 400,000  
Other 500,000 100,000 (200,000)  
Employee benefit plan obligations 53,100,000 51,900,000    
Deferred Tax Asset, Operating Lease Obligations 11,300,000 0    
Foreign and domestic net operating loss carryforwards 29,100,000 33,000,000.0    
Deferred Tax Assets, Capitalized Research Expenditures [Abstract] 28,100,000 23,900,000    
Reserves and accruals 19,500,000 18,600,000    
Tax credit carryforwards 9,900,000 12,700,000    
Other, net 8,100,000 2,900,000    
Deferred Tax Assets, Gross 236,300,000 194,200,000    
Valuation Allowances (10,800,000) (6,200,000)    
Deferred Tax Assets, Net of Valuation Allowance 225,500,000 188,000,000.0    
Deferred Income Tax Liability 32,600,000 43,900,000    
Property, plant and equipment 12,800,000 17,400,000    
Intangible assets 18,600,000 18,100,000    
Deferred Tax Liabilities, Net 64,000,000.0 79,400,000    
Deferred Tax Assets, Net 161,500,000 108,600,000    
Deferred Income Taxes and Other Assets, Noncurrent 166,800,000 115,800,000    
Deferred Income Taxes and Other Tax Liabilities, Noncurrent 5,300,000 7,200,000    
Income taxes receivable 7,800,000 11,500,000    
Income taxes payable 22,300,000 2,600,000    
Tax Credit Carryforward [Line Items]        
Foreign and domestic net operating loss carryforwards 29,100,000 33,000,000.0    
Deferred Tax Assets, Capitalized Research Expenditures [Abstract] 28,100,000 23,900,000    
Tax credit carryforwards 9,900,000 12,700,000    
Deferred Tax Assets, Operating Loss Carryforwards net of federal tax benefit on State Losses 29,100,000      
Tax effected operating loss carryforwards, valuation allowances (3,100,000)      
Tax credit carryforward, valuation allowance 0      
Deferred Tax Assets, Operating Loss Carryforwards, Net 26,000,000.0      
Tax Credit Carryforward, Deferred Tax Asset, Net 9,900,000      
Deferred Tax Asset, Operating Lease Obligations 11,300,000 0    
Deferred Tax Asset, Operating lease obligations [Abstract] 35,900,000 47,600,000    
Deferred Tax Liabilities, Tax Deferred Income 41,300,000 3,600,000    
Income tax expense 13,500,000 26,000,000.0 16,300,000  
Net operating loss and tax credit carryforwards 35,900,000      
Unrecognized Tax Benefits 2,200,000 2,000,000.0 2,000,000.0 $ 2,100,000
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions 300,000 0 0  
Currency translation adjustment (100,000) $ 0 $ (100,000)  
Liability for Uncertain Tax Positions presented net in underlying deferred tax asset 2,200,000      
U.K. defined benefit pension plan        
Income Tax Disclosure [Abstract]        
Income tax expense 3,400,000      
Tax Credit Carryforward [Line Items]        
Income tax expense 3,400,000      
Federal [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 100,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 700,000      
Foreign and domestic net operating loss carryforwards 100,000      
Tax effected operating loss carryforwards, valuation allowances 0      
Deferred Tax Assets, Operating Loss Carryforwards, Net 100,000      
State [Member]        
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 5,900,000      
Deferred Tax Assets, Operating Loss Carryforwards net of federal tax benefit on State Losses 400,000      
Tax effected operating loss carryforwards, valuation allowances 0      
Deferred Tax Assets, Operating Loss Carryforwards, Net 400,000      
International [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 28,600,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 112,500,000      
Foreign and domestic net operating loss carryforwards 28,600,000      
Tax effected operating loss carryforwards, valuation allowances (3,100,000)      
Deferred Tax Assets, Operating Loss Carryforwards, Net 25,500,000      
Within One Year [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 200,000      
Tax credit carryforwards 0      
Tax Credit Carryforward [Line Items]        
Foreign and domestic net operating loss carryforwards 200,000      
Tax credit carryforwards 0      
Within One Year [Member] | Federal [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 0      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 0      
Foreign and domestic net operating loss carryforwards 0      
Within One Year [Member] | State [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 0      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 0      
Foreign and domestic net operating loss carryforwards 0      
Within One Year [Member] | International [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 200,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 800,000      
Foreign and domestic net operating loss carryforwards 200,000      
In Five or More Years [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 3,200,000      
Tax credit carryforwards 9,900,000      
Tax Credit Carryforward [Line Items]        
Foreign and domestic net operating loss carryforwards 3,200,000      
Tax credit carryforwards 9,900,000      
In Five or More Years [Member] | Federal [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 100,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 700,000      
Foreign and domestic net operating loss carryforwards 100,000      
In Five or More Years [Member] | State [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 400,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 5,200,000      
Foreign and domestic net operating loss carryforwards 400,000      
In Five or More Years [Member] | International [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 2,700,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 11,000,000.0      
Foreign and domestic net operating loss carryforwards 2,700,000      
No Expiration Date [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 25,700,000      
Tax credit carryforwards 0      
Tax Credit Carryforward [Line Items]        
Foreign and domestic net operating loss carryforwards 25,700,000      
Tax credit carryforwards 0      
No Expiration Date [Member] | Federal [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 0      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 0      
Foreign and domestic net operating loss carryforwards 0      
No Expiration Date [Member] | State [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 0      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 700,000      
Foreign and domestic net operating loss carryforwards 0      
No Expiration Date [Member] | International [Member]        
Income Tax Disclosure [Abstract]        
Foreign and domestic net operating loss carryforwards 25,700,000      
Tax Credit Carryforward [Line Items]        
Operating loss carryforwards, gross 100,700,000      
Foreign and domestic net operating loss carryforwards $ 25,700,000      
[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 of our deferred tax assets are based on current year assessments of realizability, 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] In 2025, we qualified for the U.S. FDII deduction due to increased foreign source sales recognized for tax purposes, which resulted in a temporary book-to-tax difference.
[6] Final regulations under IRC Section 987 were enacted in 2025 and resulted in the recognition of a deferred tax asset on the accumulated unrecognized foreign currency exchange losses of foreign branches using a functional currency other than the U.S. dollar.
v3.25.1
Share-Based Compensation (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Share-Based Payment Arrangement [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 5,526,211    
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Nonvested, Number 5,153,473    
2024 PSU's      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period 465,300    
2023 PSU's      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period 428,700    
Director Share-Based Compensation [Member]      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period 76,477 131,013 109,090
2024 PSU's      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period 767,600    
Restricted Stock Units (RSUs) [Member]      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 3,048,957 3,151,634  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 12.32 $ 8.36 $ 10.63
Performance and restricted stock units expense $ 13.4 $ 18.2 $ 17.6
Share-based Payment Arrangement, Expense, Tax Benefit $ 3.3 $ 4.5 4.4
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 9.85 $ 9.59  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 1,186,304    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (1,202,796)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value $ 11.64    
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options $ 9.6    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 14.8 $ 23.2 $ 10.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (86,185)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value $ 9.58    
Performance Shares [Member]      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 2,104,516 1,299,988  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 13.27 $ 8.30 $ 11.13
Performance and restricted stock units expense $ 10.1 $ 6.7 $ 3.2
Share-based Payment Arrangement, Expense, Tax Benefit $ 2.5 $ 1.7 0.8
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 11.84 $ 9.51  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period 1,887,648    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (456,578)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value $ 10.77    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease) [1] (520,942)    
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options $ 4.1    
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition 1 year 8 months 12 days    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 4.8 $ 4.9 $ 2.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period (105,600)    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Period Increase (Decrease), Weighted Average Grant Date $ 12.17    
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity instruments Other than Options, Forfeited in Period $ (11.20)    
Performance Shares [Member] | 2025 Performance Unit Award      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 3 years    
Performance Shares [Member] | 2025 Performance Unit Award | Tranche 1      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 4.70%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 38.50%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 3 years    
Performance Shares [Member] | 2024 Performance Unit Award | Tranche 1      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 3.70%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 44.10%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 3 years    
Performance Shares [Member] | 2024 Performance Unit Award | Tranche 2      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 4.90%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 42.40%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 2 years    
Performance Shares [Member] | 2023 Performance unit Award | Tranche 1      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 2.60%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 52.20%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 3 years    
Performance Shares [Member] | 2023 Performance unit Award | Tranche 2      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 4.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 37.80%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 2 years    
Performance Shares [Member] | 2023 Performance unit Award | Tranche 3      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate [2] 5.20%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate [3] 38.90%    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 1 year    
Restricted Stock [Member]      
Share-Based Compensation Details [Line Items]      
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition 1 year 9 months 18 days    
Director Share-Based Compensation [Member]      
Share-Based Compensation Details [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 12.92 $ 8.53 $ 9.67
Maximum [Member]      
Share-Based Compensation Details [Line Items]      
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Earned [4] 2,104,516    
Minimum [Member]      
Share-Based Compensation Details [Line Items]      
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Shares Earned 0    
[1] This amount represents the difference between the maximum number of shares that could have been issued for the 2023 PSUs and the number of shares actually earned based on final performance, as modified.
[2] Based on the U.S. Government bond benchmark on the grant date.
[3] 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.
[4] This amount represents the maximum number of shares that may be issued under outstanding performance unit awards; however, the actual number of shares which may be issued will be determined based on the satisfaction of certain conditions, and therefore may be significantly lower.
v3.25.1
Leases (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Leases [Abstract]      
Operating Lease, Cost $ 50.4 $ 53.9 $ 51.9
Sublease Income (5.1) (2.4) (2.2)
Operating Leases, Rent Expense, Net 45.3 51.5 49.7
Operating Lease, Payments, Use 53.3 55.8 53.1
Lease Obligation Incurred $ 36.8 $ 20.9 $ 39.1
Operating Lease, Weighted Average Remaining Lease Term 4 years 4 months 24 days 4 years 9 months 18 days  
Lessee, Operating Lease, Discount Rate 5.30% 4.80%  
Operating Leases, Future Minimum Payments Due, Next Twelve Months $ 46.7    
Operating Leases, Future Minimum Payments, Due in Two Years 41.1    
Operating Leases, Future Minimum Payments, Due in Three Years 31.8    
Operating Leases, Future Minimum Payments, Due in Four Years 22.1    
Operating Leases, Future Minimum Payments, Due in Five Years 17.7    
Operating Leases, Future Minimum Payments, Due Thereafter 13.6    
Operating Leases, Future Minimum Payments Due 173.0    
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (19.4)    
Operating Lease, Liability $ 153.6    
v3.25.1
Acquisitions (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Business Acquisition [Line Items]      
Finite-Lived Intangible Asset, Expected Amortization, Year One $ 17.1    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 17.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Three 13.8    
Finite-Lived Intangible Asset, Expected Amortization, Year Four 11.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Five 7.5    
Finite-Lived Intangible Assets, Amortization Expense, Next Five Years 66.4    
Viccarbe Habitat, S.L. Q3 FY22      
Business Acquisition [Line Items]      
Business Combination, Contingent Consideration, Liability 13.6    
Viccarbe Habitat, S.L. Q3 FY22 | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain]      
Business Acquisition [Line Items]      
Contingent Consideration Classified as Equity, Fair Value Disclosure 0.0 $ 0.0 $ 9.5
Halcon Furniture LLC Q2 FY23      
Business Acquisition [Line Items]      
Business Combination, Consideration Transferred 127.5    
Business Combination, Separately Recognized Transactions, Liabilities Recognized 2.0    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 51.8    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net 16.7    
Finite-lived Intangible Assets Acquired 51.8    
Finite-Lived Intangible Asset, Expected Amortization, Year One 5.1    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 5.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Three 5.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Four 5.0    
Finite-Lived Intangible Asset, Expected Amortization, Year Five 5.0    
Finite-Lived Intangible Assets, Amortization Expense, Next Five Years 25.1    
Business Combination, Working Capital Adjustment 1.9    
Business Acquisition, Goodwill, Expected Tax Deductible Amount 36.6    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment 30.6    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory 12.8    
Halcon Furniture LLC Q2 FY23 | Deposits [Member]      
Business Acquisition [Line Items]      
Contract with Customer, Liability, Increase (Decrease) for Contract Acquired in Business Combination $ 24.3    
Halcon Furniture LLC Q2 FY23 | Trademarks [Member]      
Business Acquisition [Line Items]      
Weighted average useful life 9 years    
Finite-lived Intangible Assets Acquired $ 14.0    
Halcon Furniture LLC Q2 FY23 | Dealer relationships [Member]      
Business Acquisition [Line Items]      
Weighted average useful life 10 years    
Finite-lived Intangible Assets Acquired $ 21.5    
Halcon Furniture LLC Q2 FY23 | Know-How/Design [Member]      
Business Acquisition [Line Items]      
Weighted average useful life 9 years    
Finite-lived Intangible Assets Acquired $ 12.0    
Halcon Furniture LLC Q2 FY23 | Order or Production Backlog      
Business Acquisition [Line Items]      
Weighted average useful life 8 months 12 days    
Finite-lived Intangible Assets Acquired $ 4.3    
v3.25.1
Reportable Segments (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Segment Reporting Information [Line Items]                      
Revenue $ 788.0 $ 794.9 $ 855.8 $ 727.3 $ 775.2 $ 777.9 $ 854.6 $ 751.9 $ 3,166.0 $ 3,159.6 $ 3,232.6
Cost of sales                 2,109.1 2,142.8 2,310.7
Cost of Sales - Restructuring costs                 10.4 4.4 2.5
Gross profit 251.3 265.4 295.4 234.4 242.1 252.3 283.4 234.6 1,046.5 1,012.4 919.4
Operating expenses                 888.0 876.5 837.2
Operating Expenses - Restructuring costs                 0.4 18.1 16.7
Operating income (loss) 9.5 $ 41.0 $ 90.0 $ 17.6 25.7 $ 43.8 $ 41.0 $ 7.3 158.1 117.8 65.5
Interest Expense, Operating and Nonoperating                 (25.7) (25.9) (28.4)
Investment income                 13.8 6.5 1.0
Depreciation and amortization                 (12.0) 8.7 13.5
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest                 134.2 107.1 51.6
Total assets 2,330.4       2,236.7       2,330.4 2,236.7 2,202.8
Segment, Expenditure, Addition to Long-Lived Assets                 47.1 47.1 59.1
Depreciation and amortization                 80.8 83.6 90.0
Revenues from External Customers and Long-Lived Assets [Line Items]                      
Long-lived assets [1] 469.3       521.5       $ 469.3 521.5 574.8
Long-lived assets represented by country                 10.00%    
Americas [Member]                      
Segment Reporting Information [Line Items]                      
Revenue                 $ 2,465.2 2,419.8 2,436.2
Cost of sales                 1,608.2 1,618.5 1,722.1
Cost of Sales - Restructuring costs                 5.8 2.2 2.5
Gross profit                 851.2 799.1 711.6
Operating expenses                 668.0 654.2 617.5
Operating Expenses - Restructuring costs                 0.4 1.1 16.7
Operating income (loss)                 182.8 143.8 77.4
Total assets 1,848.0       1,705.5       1,848.0 1,705.5 1,631.2
Segment, Expenditure, Addition to Long-Lived Assets                 34.0 34.1 41.9
Depreciation and amortization                 57.6 58.5 64.6
International                      
Segment Reporting Information [Line Items]                      
Revenue                 700.8 739.8 796.4
Cost of sales                 500.9 524.3 588.6
Cost of Sales - Restructuring costs                 4.6 2.2 0.0
Gross profit                 195.3 213.3 207.8
Operating expenses                 220.0 222.3 219.7
Operating Expenses - Restructuring costs                 0.0 17.0 0.0
Operating income (loss)                 (24.7) (26.0) (11.9)
Total assets 482.4       531.2       482.4 531.2 571.6
Segment, Expenditure, Addition to Long-Lived Assets                 13.1 13.0 17.2
Depreciation and amortization                 23.2 25.1 25.4
UNITED STATES                      
Segment Reporting Information [Line Items]                      
Revenue                 2,292.2 2,249.0 2,258.7
Revenues from External Customers and Long-Lived Assets [Line Items]                      
Long-lived assets 258.3       318.0       258.3 318.0 358.3
Foreign locations [Member]                      
Segment Reporting Information [Line Items]                      
Revenue                 873.8 910.6 973.9
Revenues from External Customers and Long-Lived Assets [Line Items]                      
Long-lived assets $ 211.0       $ 203.5       $ 211.0 $ 203.5 $ 216.5
[1] Long-lived assets include property, plant and equipment and right-of-use operating lease assets.
v3.25.1
Restructuring and Related Activities (Details)
 12 Months Ended
Feb. 28, 2025
USD ($)
employee
positions
Feb. 23, 2024
USD ($)
Feb. 24, 2023
USD ($)
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve $ 2,900,000 $ 12,300,000 $ 4,000,000.0
Payments for Restructuring (19,600,000) (13,600,000)  
Restructuring Reserve, Translation and Other Adjustment (1,600,000) (100,000)  
Restructuring and Related Cost, Incurred Cost 11,800,000 22,000,000.0  
Workforce Reductions      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 2,900,000 12,300,000 4,000,000.0
Payments for Restructuring (17,200,000) (13,400,000)  
Restructuring Reserve, Translation and Other Adjustment (1,600,000) (100,000)  
Restructuring and Related Cost, Incurred Cost 9,400,000 21,800,000  
Business Exit and Related Costs      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 0 0 $ 0
Payments for Restructuring (2,400,000) (200,000)  
Restructuring Reserve, Translation and Other Adjustment 0 0  
Restructuring and Related Cost, Incurred Cost $ 2,400,000 200,000  
International | EMEA Restructuring Q3 2025      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated 30    
Restructuring and Related Cost, Expected Cost $ 1,000,000    
Restructuring and Related Cost, Incurred Cost $ 1    
International | APAC Restructuring Q3 2025      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated 70    
Restructuring and Related Cost, Incurred Cost $ 800,000    
International | Regional Distribution Center Closure - EMEA Q1 2025      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | employee 20    
Restructuring and Related Cost, Expected Cost $ 3,000,000    
Restructuring and Related Cost, Incurred Cost $ 2,800,000    
International | APAC - Restructuring Actions Initiated Q4 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | positions 100    
Restructuring and Related Cost, Expected Cost $ 4,000,000    
Restructuring and Related Cost, Incurred Cost 800,000    
International | APAC - Restructuring Actions Initiated Q4 2024 | Workforce Reductions      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost   2,500,000  
International | APAC - Restructuring Actions Initiated Q4 2024 | ROU Asset Impairment      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost   400,000  
International | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Incurred Cost   16,300,000  
Restructuring Reserve, Accrual Adjustment (800,000)    
International | Minimum [Member] | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost 16,000,000    
International | Maximum [Member] | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost $ 18,000,000    
Americas [Member] | Americas - Restructuring Actions Initiated Q1 2025      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | positions 100    
Restructuring and Related Cost, Expected Cost $ 3,000,000    
Restructuring and Related Cost, Incurred Cost $ 3,000,000    
Americas [Member] | Regional Distribution Center Move - Americas Q4 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | employee 55    
Restructuring and Related Cost, Number of Positions Relocated | positions 15    
Restructuring and Related Cost, Incurred Cost $ 3,000,000.0 700,000  
Americas [Member] | Americas - Restructuring Actions Initiated Q3 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | positions 15    
Restructuring and Related Cost, Incurred Cost $ 200,000 1,100,000  
Americas [Member] | Regional Distribution Center Closure - Atlanta, GA      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | employee 30    
Restructuring and Related Cost, Expected Cost $ 1,000,000    
Restructuring and Related Cost, Incurred Cost   $ 500,000  
EMEA [Member] | Minimum [Member] | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | employee 40    
EMEA [Member] | Maximum [Member] | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | employee 50    
Asia Pacific | International - Restructuring Actions Announced Q1 2024      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Number of Positions Eliminated | positions 240    
v3.25.1
Unaudited Quarterly Results (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 12 Months Ended
Feb. 28, 2025
Nov. 22, 2024
Aug. 23, 2024
May 24, 2024
Feb. 23, 2024
Nov. 24, 2023
Aug. 25, 2023
May 26, 2023
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]                      
Revenue $ 788.0 $ 794.9 $ 855.8 $ 727.3 $ 775.2 $ 777.9 $ 854.6 $ 751.9 $ 3,166.0 $ 3,159.6 $ 3,232.6
Gross profit 251.3 265.4 295.4 234.4 242.1 252.3 283.4 234.6 1,046.5 1,012.4 919.4
Operating income (loss) 9.5 41.0 90.0 17.6 25.7 43.8 41.0 7.3 158.1 117.8 65.5
Net income $ 27.6 $ 19.1 $ 63.1 $ 10.9 $ 21.3 $ 30.8 $ 27.5 $ 1.5 $ 120.7 $ 81.1 $ 35.3
Basic $ 0.23 $ 0.16 $ 0.53 $ 0.09 $ 0.18 $ 0.26 $ 0.23 $ 0.01 $ 1.02 $ 0.68 $ 0.30
Diluted $ 0.23 $ 0.16 $ 0.53 $ 0.09 $ 0.18 $ 0.26 $ 0.23 $ 0.01 $ 1.02 $ 0.68 $ 0.30
v3.25.1
Schedule II Valuation And Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Feb. 28, 2025
Feb. 23, 2024
Feb. 24, 2023
Feb. 25, 2022
Allowance for Losses on Accounts Receivable [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount $ 4.7 $ 6.2 $ 6.5 $ 8.0
Charged to cost and expense 1.4 1.1 3.0  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [1] (2.8) (1.5) (4.3)  
Other adjustments (0.1) 0.1 (0.2)  
SEC Schedule, 12-09, Reserve, Inventory        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 44.6 46.4 41.2 35.7
Charged to cost and expense 10.8 14.5 12.4  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction [2] (12.7) (9.3) (7.7)  
Other adjustments [3] 0.1 0.0 0.8  
Valuation Allowance for Deferred Income Tax Assets [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 10.8 6.2 4.3 $ 3.7
Charged to cost and expense 4.9 2.0 1.0  
Other adjustments [4] $ (0.3) $ (0.1) $ (0.4)  
[1] Primarily represents changes in our estimated provision for bad debts and excess of accounts written off over recoveries.
[2] nventory dispositions and losses charged against inventory reserves.
[3] Includes an increase of $1.3 recognized to record inventory at fair value in our acquisition of Halcon in 2023 and currency translation adjustments.
[4] Primarily represents currency translation adjustments.