American Greetings 10-Q 10 Jul 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May. 29, 2015	Jul. 10, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 29, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	AM
Entity Registrant Name	AMERICAN GREETINGS CORP
Entity Central Index Key	5,133
Current Fiscal Year End Date	--02-28
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		100

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Income Statement [Abstract]
Net sales	$ 471,892	$ 497,274
Other revenue	1,551	6,310
Total revenue	473,443	503,584
Material, labor and other production costs	195,474	200,786
Selling, distribution and marketing expenses	163,759	172,259
Administrative and general expenses	58,221	69,295
Other operating income - net	(62,420)	(1,968)
Operating income	118,409	63,212
Interest expense	8,113	8,994
Interest income	(99)	(111)
Other non-operating income - net	(938)	(1,107)
Income before income tax expense	111,333	55,436
Income tax expense	38,569	11,697
Net income	$ 72,764	$ 43,739

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 72,764	$ 43,739
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2,028)	1,866
Pension and postretirement benefit adjustments	216	(23)
Unrealized gain on equity securities	44,610
Other comprehensive income (loss), net of tax	42,798	1,843
Comprehensive income	$ 115,562	$ 45,582

Consolidated Statement of Finan

Consolidated Statement of Financial Position - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Current assets
Cash and cash equivalents	$ 42,806	$ 43,327	$ 64,990
Trade accounts receivable, net	124,966	102,339	134,185
Inventories	251,122	248,577	259,837
Deferred and refundable income taxes	44,790	45,976	43,862
Assets held for sale		35,529
Prepaid expenses and other	135,154	157,669	139,337
Total current assets	598,838	633,417	642,211
Other assets	575,673	431,838	537,453
Deferred and refundable income taxes	54,436	90,143	71,232
Property, plant and equipment - at cost	845,777	828,028	876,634
Less accumulated depreciation	457,773	447,731	491,621
Property, plant and equipment - net	388,004	380,297	385,013
Total assets	1,616,951	1,535,695	1,635,909
Current liabilities
Debt due within one year	0	0	20,000
Accounts payable	103,708	133,135	103,701
Accrued liabilities	74,448	75,992	68,012
Accrued compensation and benefits	50,962	95,193	40,514
Income taxes payable	14,655	22,512	3,706
Liabilities held for sale		1,712
Deferred revenue	26,313	27,200	30,360
Other current liabilities	58,456	63,199	82,679
Total current liabilities	328,542	418,943	348,972
Long-term debt	463,469	472,729	596,702
Other liabilities	365,467	303,231	303,937
Deferred income taxes and noncurrent income taxes payable	14,585	11,466	13,270
Shareholder's equity
Common shares - par value $.01 per share: 100 shares issued and outstanding	0	0	0
Capital in excess of par value	240,000	240,000	240,000
Accumulated other comprehensive income (loss)	18,395	(24,403)	2,595
Retained earnings	186,493	113,729	130,433
Total shareholder's equity	444,888	329,326	373,028
Total liabilities and stockholders equity	$ 1,616,951	$ 1,535,695	$ 1,635,909

Consolidated Statement of Fina5

Consolidated Statement of Financial Position (Parenthetical) - $ / shares	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Statement of Financial Position [Abstract]
Common shares, par value	$ 0.01	$ 0.01	$ 0.01
Common shares, issued	100	100	100
Common shares, outstanding	100	100	100

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 72,764	$ 43,739
Adjustments to reconcile net income to cash flows from operating activities:
Gain on sale of Strawberry Shortcake	(61,666)
Net loss on disposal of fixed assets	9	23
Depreciation and intangible assets amortization	13,993	15,222
Clinton Cards secured debt recovery		(3,390)
Provision for doubtful accounts	30	233
Deferred income taxes	6,951	(441)
Other non-cash charges	2,744	1,063
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Trade accounts receivable	(23,034)	(32,066)
Inventories	(3,473)	(4,596)
Other current assets	(2,306)	2,618
Net payable/receivable with related parties	(50)	(76)
Income taxes	(2,584)	(8,785)
Deferred costs - net	5,276	6,947
Accounts payable and other liabilities	(104,603)	(58,499)
Other - net	(128)	3,081
Total Cash Flows From Operating Activities	(96,077)	(34,927)
INVESTING ACTIVITIES:
Property, plant and equipment additions	(13,392)	(22,194)
Cash paid for acquired character property rights	(2,800)
Proceeds from sale of fixed assets	9	17
Adjustment to proceeds from sale of AGI In-Store	(3,200)
Proceeds from sale of Strawberry Shortcake	105,000
Proceeds from surrender of corporate-owned life insurance policies	24,068
Net (borrowings)/repayments on loans to related parties	(2,479)
Proceeds from Clinton Cards administration		582
Total Cash Flows From Investing Activities	107,206	(21,595)
FINANCING ACTIVITIES:
Proceeds from revolving line of credit	94,150	168,000
Repayments on revolving line of credit	(40,450)	(105,900)
Repayments on term loan	(65,000)	(5,000)
Total Cash Flows From Financing Activities	(11,300)	57,100
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(350)	449
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(521)	1,027
Cash and Cash Equivalents at Beginning of Year	43,327	63,963
Cash and Cash Equivalents at End of Period	$ 42,806	$ 64,990

Basis of Presentation

Basis of Presentation	3 Months Ended
	May. 29, 2015
Accounting Policies [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation The accompanying unaudited consolidated financial statements of American Greetings Corporation and its subsidiaries (the “Corporation”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary to fairly present financial position, results of operations and cash flows for the periods have been included. The Corporation’s fiscal year ends on February 28 or 29. References to a particular year refer to the fiscal year ending in February of that year. For example, 2015 refers to the year ended February 28, 2015. The Corporation’s subsidiary, AG Retail Cards Limited is consolidated on a one-month lag corresponding with its fiscal year-end of January 30 for 2016. These interim financial statements should be read in conjunction with the Corporation’s financial statements and notes thereto included in its Annual Report on Form 10-K for the year ended February 28, 2015, from which the Consolidated Statement of Financial Position at February 28, 2015, presented herein, has been derived. The Corporation’s investments in less than majority-owned companies in which it has the ability to exercise significant influence over the operation and financial policies are accounted for using the equity method except when they qualify as variable interest entities (“VIE”) and the Corporation is the primary beneficiary, in which case, the investments are consolidated in accordance with Accounting Standards Codification (“ASC”) Topic 810 (“ASC 810”), “Consolidation.” Investments that do not meet the above criteria but have a readily determinable fair value are measured at fair value with unrealized gains and losses reported in other comprehensive income. Such investments that do not have a readily determinable fair value are accounted for under the cost method. The Corporation provides limited credit support to Schurman Fine Papers (“Schurman”) which is a VIE as defined in ASC 810. Schurman owns and operates specialty card and gift retail stores in the United States and Canada. The stores are primarily located in malls and strip shopping centers. This limited credit support is provided through the provision of a liquidity guaranty (“Liquidity Guaranty”) in favor of the lenders under Schurman’s senior revolving credit facility (the “Senior Credit Facility”). Pursuant to the terms of the Liquidity Guaranty, the Corporation has guaranteed the repayment of up to $10.0 million of Schurman’s borrowings under the Senior Credit Facility to help ensure that Schurman has sufficient borrowing availability under this facility. The Liquidity Guaranty is required to be backed by a letter of credit for the term of the Liquidity Guaranty, which expires in January 2019. The Corporation’s obligations under the Liquidity Guaranty generally may not be triggered unless Schurman’s lenders under its Senior Credit Facility have substantially completed the liquidation of the collateral under Schurman’s Senior Credit Facility, or 91 days after the liquidation is started, whichever is earlier, and will be limited to the deficiency, if any, between the amount owed and the amount collected in connection with the liquidation. There was no triggering event or liquidation of collateral as of May 29, 2015 requiring the use of the Liquidity Guaranty. During the current period, the Corporation assessed the variable interests in Schurman and determined that a third party holder of variable interests has the controlling financial interest in the VIE and thus, the third party, not the Corporation, is the primary beneficiary. In completing this assessment, the Corporation identified the activities that it considers most significant to the future economic success of the VIE and determined that it does not have the power to direct those activities. As such, Schurman is not consolidated in the Corporation’s results. The Corporation’s maximum exposure to loss as it relates to Schurman as of May 29, 2015 includes: • Liquidity Guaranty of Schurman’s indebtedness of $10.0 million; • normal course of business trade and other receivables due from Schurman of $26.5 million, the balance of which fluctuates throughout the year due to the seasonal nature of the business; and • the retail store operating leases currently subleased to Schurman, the aggregate lease payments for the remaining life of which was $3.5 million as of May 29, 2015. Prior Year Correction of Immaterial Errors During the prior year first quarter, the Corporation identified and corrected errors in the accounting for income taxes that related to the year ended February 28, 2014. These errors primarily related to the Corporation’s failure to consider all sources of available taxable income when assessing the need for a valuation allowance against certain deferred tax assets and the recognition of a liability for an uncertain tax position. These errors were the result of the significant complexity created as a result of the going private transaction. The impact of correcting these items had a non-cash effect, decreasing tax expense and increasing net income by $4.1 million. Based on its evaluation as discussed more fully below, the Corporation concluded that the corrections to the financial statements were immaterial to its financial results for the years ended February 28, 2014 and 2015. In accordance with ASC Topic 250, Accounting Changes and Error Corrections, the Corporation evaluated the effects of the errors on its financial statements for the years ended February 28, 2014 and 2015 and concluded that the results of operations for these periods were not materially misstated. In reaching its conclusion, the Corporation considered numerous qualitative and quantitative factors, including but not limited to the following: • In evaluating the financial and operational performance, the Corporation’s shareholder and debt holders focus on performance metrics such as earnings before interest, taxes, depreciation and amortization (“EBITDA”), operating income and cash flows from operations, none of which were impacted by the correction of the errors, • The numeric impact of the error on the Corporation’s results of operations, including the net dollar impact, the impact as a percentage of period earnings, the impact on financial trends, and the impact on non-GAAP measures such as adjusted operating income the Corporation presents in quarterly public debt holder conference calls, which were deemed immaterial, particularly in light of the Corporation’s stakeholders’ focus on EBITDA, operating income and cash flows from operations, and • The absence of any impact on the Corporation’s compliance with its debt covenants, management compensation or segment reporting. Based on its evaluation, the Corporation concluded that it is not probable that the judgment of a reasonable person relying on the financial statements would have been changed or influenced by the error or correction of the error.

Seasonal Nature of Business

Seasonal Nature of Business	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Seasonal Nature of Business	Note 2 – Seasonal Nature of Business A significant portion of the Corporation’s business is seasonal in nature. Therefore, the results of operations for interim periods are not necessarily indicative of the results for the fiscal year taken as a whole.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	May. 29, 2015
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Note 3 – Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03 (“ASU 2015-03”), “Simplifying the Presentation of Debt Issuance Costs”. ASU 2015-03 requires that all costs incurred to issue debt be presented in the balance sheet as a direct reduction from the carrying value of the debt, similar to the presentation of debt discounts. ASU 2015-03 is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years, with early adoption permitted. The Corporation does not expect that the adoption of this standards update will have a material impact on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, (“ASU 2014-15”), “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”. ASU 2014-15 requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Corporation does not expect that the adoption of this standards update will impact its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, (“ASU 2014-09”), “Revenue from Contracts with Customers”. The objective of ASU 2014-19 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. On July 9, 2015, the FASB agreed to delay the effective date of ASU 2014-09 by one year. In accordance with the agreed upon delay the new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 for public companies. Early adoption is permitted but not before annual periods beginning after December 15, 2016. Entities have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. The Corporation is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements nor decided upon the method of adoption.

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Acquisitions and Dispositions	Note 4 – Acquisitions and Dispositions Sale of Strawberry Shortcake As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, the Corporation entered into an agreement to sell its Strawberry Shortcake property and related intangible assets and licensing agreements (“Strawberry Shortcake”) on February 2, 2015. At February 28, 2015, the assets and liabilities related to the pending sale were classified as held for sale. In March 2015, the sale was completed and the Corporation received $105.0 million in cash and recognized a gain of $61.7 million, subject to finalization of certain closing date estimates. The proceeds are included in “Proceeds from sale of Strawberry Shortcake” within “Investing Activities” on the Consolidated Statement of Cash Flows. Character Property Rights Acquisition As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, in order to secure complete control and ownership over the rights in certain character properties, including the Strawberry Shortcake property, that the Corporation previously granted to a third party (the “Character Property Rights”), on December 18, 2014, the Corporation paid $37.7 million to purchase these rights, and recorded the rights as indefinite-lived intangible assets. At February 28, 2015, approximately $26 million of this amount was classified as held for sale related to the expected sale of Strawberry Shortcake. In addition, under the agreement by which it acquired these rights, the Corporation agreed that in the event of a future sale of these Character Property Rights and the associated character properties, the Corporation will, depending on the proceeds of such sale, pay up to an additional $4.0 million of the proceeds that it receives from any such sale. Accordingly, as a result of the sale of the Strawberry Shortcake property described above, in March 2015, the Corporation made an additional payment in the amount of $2.8 million. This payment is included in “Cash paid for acquired character property rights” within “Investing Activities” on the Consolidated Statement of Cash Flows. Sale of AGI In-Store As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, the Corporation completed the sale of its wholly-owned display fixtures business, AGI In-Store, on August 29, 2014 for $73.7 million in cash, subject to closing date working capital adjustments. In March 2015, the working capital adjustments were finalized and a payment of $3.2 million was made to the buyer. This payment is included in “Adjustment to proceeds from sale of AGI In-Store” within “Investing Activities” on the Consolidated Statement of Cash Flows. Surrender of Certain Corporate-Owned Life Insurance Policies As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, the Corporation, in order to mitigate the ongoing risks to the Corporation that may arise from retaining certain corporate-owned life insurance policies, surrendered those policies during the prior year fourth quarter. In March 2015, in connection with the surrender of those policies, the Corporation received proceeds of $24.1 million. These proceeds are included in “Proceeds from surrender of corporate-owned life insurance policies” within “Investing Activities” on the Consolidated Statement of Cash Flows.

Royalty Revenue and Related Exp

Royalty Revenue and Related Expenses	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Royalty Revenue and Related Expenses	Note 5 – Royalty Revenue and Related Expenses The Corporation has agreements for licensing certain characters and other intellectual property. These license agreements provide for royalty revenue to the Corporation, which is recorded in “Other revenue” on the Consolidated Statement of Income. These license agreements may include the receipt of upfront advances, which are recorded as deferred revenue and earned during the period of the agreement. Revenues and expenses associated with the servicing of these agreements, primarily relating to the licensing activities included in the Non-reportable segment, are summarized as follows: Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Royalty revenue $ 1,129 $ 5,938 Royalty expenses: Material, labor and other production costs $ 934 $ 1,544 Selling, distribution and marketing expenses 703 1,576 Administrative and general expenses 367 472 $ 2,004 $ 3,592 As disclosed in Note 4, the Corporation completed the sale of Strawberry Shortcake in March 2015. As such, royalty revenue and expenses related to Strawberry Shortcake for the prior year three month period do not have comparative amounts in the current year.

Other Income and Expense

Other Income and Expense	3 Months Ended
	May. 29, 2015
Other Income and Expenses [Abstract]
Other Income and Expense	Note 6 – Other Income and Expense Other Operating Income – Net Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Gain on sale of Strawberry Shortcake $ (61,666 ) $ — Clinton Cards secured debt recovery — (3,390 ) Loss on asset disposal 9 23 Miscellaneous (763 ) 1,399 Other operating income – net $ (62,420 ) $ (1,968 ) In March 2015, the Corporation recognized a gain of $61.7 million in connection with the sale of Strawberry Shortcake. See Note 4 for further information. During the three months ended May 30, 2014, the Corporation recorded an impairment recovery of $3.4 million related to the senior secured debt of Clinton Cards that the Corporation acquired in May 2012 and subsequently impaired. Other Non-Operating Income – Net Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Foreign exchange gain $ (784 ) $ (460 ) Rental income (152 ) (539 ) Miscellaneous (2 ) (108 ) Other non-operating income – net $ (938 ) $ (1,107 )

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	May. 29, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 7 – Accumulated Other Comprehensive Income (Loss) The changes in accumulated other comprehensive income (loss) are as follows. (In thousands) Foreign Pensions and Unrealized Total Balance at February 28, 2015 $ 1,836 $ (26,239 ) $ — $ (24,403 ) Other comprehensive income (loss) before reclassifications (2,028 ) (22 ) 44,610 42,560 Amounts reclassified from accumulated other comprehensive income (loss) — 238 — 238 Net current period other comprehensive income (loss) (2,028 ) 216 44,610 42,798 Balance at May 29, 2015 $ (192 ) $ (26,023 ) $ 44,610 $ 18,395 The reclassifications out of accumulated other comprehensive income (loss) are as follows: (In thousands) Three Months Ended Consolidated Statement of Income Pensions and Postretirement Benefits: Amortization of pensions and other postretirement benefits items Actuarial losses, net $ (548 ) Administrative and general expenses Prior service credit, net 174 Administrative and general expenses (374 ) Tax benefit 136 Income tax expense Total, net of tax (238 ) Total reclassifications $ (238 ) As reported in its Annual Report on Form 10-K for the year ended February 28, 2015, the Corporation held a minority investment in the common stock of a privately held company which was classified as available for sale and accounted for under the cost method due to the Corporation’s inability to exercise significant influence over the investee’s operating and financial policies and the absence of a readily determinable fair value for its investment. At February 28, 2015, the carrying value of this investment was zero as a result of a cash distribution in 2014 that included a return of capital. During the three months ended May 29, 2015, the investee successfully completed an initial public offering of its common stock and thereby established a readily determinable fair value for the Corporation’s previously nonmarketable investment. In accordance with ASC Topic 320, “Investments – Debt and Equity Securities,” the investment is now reported at fair value and is included in “Other assets” on the Corporation’s Consolidated Statement of Financial Position. See Note 14 for further information. As a result of the initial fair value measurement at May 29, 2015, an unrealized gain, net of tax, of $44.6 million was recognized in other comprehensive income.

Customer Allowances and Discoun

Customer Allowances and Discounts	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Customer Allowances and Discounts	Note 8 – Customer Allowances and Discounts Trade accounts receivable are reported net of certain allowances and discounts. The most significant of these are as follows: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Allowance for seasonal sales returns $ 20,026 $ 18,895 $ 23,214 Allowance for outdated products 10,547 11,074 10,313 Allowance for doubtful accounts 1,603 1,730 2,115 Allowance for marketing funds 26,373 26,841 33,027 Allowance for rebates 24,828 34,214 29,236 $ 83,377 $ 92,754 $ 97,905 Certain customer allowances and discounts are settled in cash. These accounts, primarily rebates, which are classified as “Accrued liabilities” on the Consolidated Statement of Financial Position, totaled $14.6 million, $17.0 million and $14.6 million as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively.

Inventories

Inventories	3 Months Ended
	May. 29, 2015
Inventory Disclosure [Abstract]
Inventories	Note 9 – Inventories (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Raw materials $ 18,271 $ 14,809 $ 27,109 Work in process 11,310 7,578 12,774 Finished products 294,217 297,899 284,415 323,798 320,286 324,298 Less LIFO reserve 81,314 80,755 82,746 242,484 239,531 241,552 Display materials and factory supplies 8,638 9,046 18,285 $ 251,122 $ 248,577 $ 259,837 The valuation of inventory under the Last-In, First-Out (“LIFO”) method is made at the end of each fiscal year based on inventory levels and costs at that time. Accordingly, interim LIFO calculations, by necessity, are based on estimates of expected fiscal year-end inventory levels and costs, and are subject to final fiscal year-end LIFO inventory calculations. Inventory held on location for retailers with scan-based trading arrangements, which is included in finished products, totaled $71.8 million, $66.9 million and $76.2 million as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively.

Deferred Costs

Deferred Costs	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Deferred Costs	Note 10 – Deferred Costs Deferred costs and future payment commitments for retail supply agreements are included in the following financial statement captions: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Prepaid expenses and other $ 95,001 $ 98,061 $ 93,125 Other assets 429,532 364,311 420,358 Deferred cost assets 524,533 462,372 513,483 Other current liabilities (53,530 ) (59,018 ) (81,154 ) Other liabilities (177,133 ) (104,127 ) (144,762 ) Deferred cost liabilities (230,663 ) (163,145 ) (225,916 ) Net deferred costs $ 293,870 $ 299,227 $ 287,567 The Corporation maintains an allowance for deferred costs related to supply agreements of $2.2 million, $2.3 million and $3.6 million at May 29, 2015, February 28, 2015 and May 30, 2014, respectively. This allowance is included in “Other assets” on the Consolidated Statement of Financial Position.

Other Liabilities

Other Liabilities	3 Months Ended
	May. 29, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities	Note 11 – Other Liabilities Included in “Other liabilities” on the Consolidated Statement of Financial Position is a deferred lease obligation related to an operating lease with H L & L Property Company (“H L & L”), for a building that will function as the Corporation’s world headquarters. The building is currently being constructed and expected to be available for occupancy in calendar year 2016. H L & L is an indirect affiliate of the Corporation as it is indirectly owned by members of the Weiss Family (as defined in Note 17). Due to, among other things, the Corporation’s involvement in the construction of the building, the Corporation is required to be treated, for accounting purposes only, as the “deemed owner” of the new world headquarters building during the construction period. Accordingly, the Corporation has recorded an asset and associated offsetting liability during the construction of the building, even though the Corporation does not own the asset and is not the obligor on the corresponding construction debt. The asset and corresponding liability was $39.3 million, $31.7 million and $0.9 million as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively. See Note 17 for further information.

Debt

Debt	3 Months Ended
	May. 29, 2015
Debt Disclosure [Abstract]
Debt	Note 12 – Debt There was no debt due within one year as of May 29, 2015 and February 28, 2015. Debt due within one year totaled $20,000 as of May 30, 2014, which represented the current maturity of the term loan. Long-term debt and their related calendar year due dates as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively, were as follows: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Term loan, due 2019 $ 185,000 $ 250,000 $ 335,000 7.375% senior notes, due 2021 225,000 225,000 225,000 Revolving credit facility, due 2018 58,000 4,300 66,600 6.10% senior notes, due 2028 181 181 181 Unamortized financing fees (4,712 ) (6,752 ) (10,079 ) 463,469 472,729 616,702 Current portion of term loan — — (20,000 ) $ 463,469 $ 472,729 $ 596,702 At May 29, 2015, the balances outstanding on the term loan facility and revolving credit facility bear interest at a rate of approximately 2.7% and 2.9%, respectively. The revolving credit facility provides the Corporation with funding of up to $250 million. The Corporation is also a party to an accounts receivable facility that provides funding of up to $50 million, under which there were no borrowings outstanding as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively. Outstanding letters of credit, which reduce the total credit available under the revolving credit and the accounts receivable facilities, totaled $26.4 million at May 29, 2015. In March 2015 the Corporation made a voluntary prepayment of $65.0 million on the term loan facility, thereby eliminating all future quarterly installment payments prior to this facility’s August 9, 2019 maturity date. During the three months ended May 29, 2015, the Corporation expensed an additional $1.8 million of unamortized financing fees as a result of the prepayment. The total fair value of the Corporation’s publicly traded debt, which was considered a Level 1 valuation as it was based on quoted market prices, was $238.6 million (at a carrying value of $225.2 million), $238.2 million (at a carrying value of $225.2 million) and $236.4 million (at a carrying value of $225.2 million) at May 29, 2015, February 28, 2015 and May 30, 2014, respectively. The total fair value of the Corporation’s non-publicly traded debt, which was considered a Level 2 valuation as it was based on comparable privately traded debt prices, was $242.5 million (at a principal carrying value of $243.0 million), $251.8 million (at a principal carrying value of $254.3 million), and $401.6 million (at a carrying value of $401.6 million) at May 29, 2015, February 28, 2015 and May 30, 2014, respectively. At May 29, 2015, the Corporation was in compliance with the financial covenants under its borrowing agreements.

Retirement Benefits

Retirement Benefits	3 Months Ended
	May. 29, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement Benefits	Note 13 – Retirement Benefits The components of periodic benefit cost for the Corporation’s defined benefit pension and postretirement benefits plans are as follows: Defined Benefit Pension Plans Postretirement Benefits Plan Three Months Ended Three Months Ended (In thousands) May 29, 2015 May 30, 2014 May 29, 2015 May 30, 2014 Service cost $ 159 $ 144 $ 125 $ 100 Interest cost 1,558 1,837 525 675 Expected return on plan assets (1,668 ) (1,623 ) (675 ) (700 ) Amortization of prior service cost (credit) 1 1 (175 ) (325 ) Amortization of actuarial loss (gain) 848 706 (300 ) (225 ) $ 898 $ 1,065 $ (500 ) $ (475 ) The Corporation has a discretionary profit-sharing plan with a 401(k) provision covering most of its United States employees. The profit-sharing plan expense for the three months ended May 29, 2015 was $1.7 million, compared to $4.1 million in the prior year period. The Corporation also matches a portion of 401(k) employee contributions. The expense recognized for the 401(k) match was $1.2 million for the three month period ended May 29, 2015, compared to $1.3 million for the prior year period. The profit-sharing plan and 401(k) matching expenses for the three month periods are estimates as actual contributions are determined after fiscal year-end. At May 29, 2015, February 28, 2015 and May 30, 2014, the liability for postretirement benefits other than pensions was $18.5 million, $17.5 million and $18.7 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position. At May 29, 2015, February 28, 2015 and May 30, 2014, the long-term liability for pension benefits was $80.3 million, $81.9 million and $76.0 million, respectively, and is included in “Other liabilities” on the Consolidated Statement of Financial Position.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May. 29, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 14 – Fair Value Measurements Assets and liabilities measured at fair value are classified using the fair value hierarchy based upon the transparency of inputs as of the measurement date. The classification of fair value measurements within the hierarchy is based upon the lowest level of input that is significant to the measurement. The three levels are defined as follows: • Level 1 – Valuation is based upon quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 – Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – Valuation is based upon unobservable inputs that are significant to the fair value measurement. The following table summarizes the financial assets and liabilities measured at fair value as of May 29, 2015: (In thousands) May 29, 2015 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,484 $ 11,035 $ 1,449 $ — Investment in equity securities 73,080 73,080 — — $ 85,564 $ 84,115 $ 1,449 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,448 $ 11,035 $ 2,413 $ — The following table summarizes the assets and liabilities measured at fair value as of February 28, 2015: (In thousands) February 28, 2015 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,745 $ 10,997 $ 1,748 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,412 $ 10,997 $ 2,415 $ — The following table summarizes the assets and liabilities measured at fair value as of May 30, 2014: (In thousands) May 30, 2014 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,218 $ 10,243 $ 1,975 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,214 $ 10,243 $ 2,971 $ — The deferred compensation plan includes investments in mutual funds and a money market fund. Assets held in mutual funds are recorded at fair value, which is considered a Level 1 valuation as it is based on each fund’s quoted market value per share in an active market. The money market fund is classified as Level 2 as substantially all of the fund’s investments are determined using amortized cost. The fair value of the deferred compensation plan liabilities is based on the fair value of: (i) the plan’s assets for invested deferrals and (ii) hypothetical investments for unfunded deferrals. The investment in equity securities is considered a Level 1 valuation as it is based on a quoted price in an active market.

Contingency

Contingency	3 Months Ended
	May. 29, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingency	Note 15 – Contingency The Corporation is presently involved in various judicial, administrative, regulatory and arbitration proceedings concerning matters arising in the ordinary course of business, including but not limited to, employment, commercial disputes and other contractual matters. These matters are inherently subject to many uncertainties regarding the possibility of a loss to the Corporation. These uncertainties will ultimately be resolved when one or more future events occur or fail to occur, confirming the incurrence of a liability or reduction of a liability. In accordance with ASC Topic 450, “Contingencies,” the Corporation accrues for these contingencies by a charge to income when it is both probable that one or more future events will occur confirming the fact of a loss and the amount of the loss can be reasonably estimated. Due to this uncertainty, the actual amount of any loss may ultimately prove to be larger or smaller than the amounts reflected in the Corporation’s Consolidated Financial Statements. Some of these proceedings are at preliminary stages and some of these cases seek an indeterminate amount of damages. Al Smith et al. v. American Greetings Corporation. On January 20, 2015, the parties reached a settlement in principle that, if approved by the Court, will fully and finally resolve the claims brought by Smith and Hourcade, as well as the classes they seek to represent. The settlement was a product of extensive negotiations and a private mediation, which was finalized and memorialized in a Stipulation and Class Action Settlement Agreement signed March 30, 2015. The proposed settlement establishes a settlement fund of $4.0 million to pay claims from current and former employees who worked at least one day for American Greetings Corporation and/or certain of its subsidiaries in any hourly non-exempt position in California between June 4, 2010 and the date of the Court’s preliminary approval of the settlement. On March 31, 2015, plaintiffs filed a Motion for Preliminary Approval of Class Action Settlement. On April 30, 2015, plaintiffs filed their Third Amended Complaint to which American Greetings Corporation filed its answer on May 19, 2015. On April 30, 2015, the Court held a preliminary approval hearing. If the settlement is preliminarily approved, notice and claim forms will be mailed to class members and class members will have an opportunity to submit claims, to opt-out of the settlement, and/or to object to the settlement. As part of a Preliminary Approval Order, the Court will set a Final Approval Hearing to occur after the notice process, at which point the Court will consider the notice process and results, any objections, and other relevant information. The Court will then decide whether to finally approve the class settlement. If the settlement is finally approved, American Greetings will fund the settlement within twenty (20) days after passage of all appeal periods. Thereafter, the settlement funds will be disbursed as provided in the settlement agreement and the Court’s orders. Michael Ackerman v. American Greetings Corporation, et al. With respect to the Ackerman case, management is unable to estimate a range of reasonably possible losses as (i) the aggregate damages have not been specified, (ii) the proceeding is in the early stages, (iii) there is uncertainty as to the outcome of anticipated motions, and/or (iv) there are significant factual issues to be resolved. However, management does not believe, based on currently available information, that the outcome of this proceeding will have a material adverse effect on the Corporation’s business, consolidated financial position or results of operations, although the outcome could be material to the Corporation’s operating results for any particular period, depending, in part, upon the operating results for such period.

Income Taxes

Income Taxes	3 Months Ended
	May. 29, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 16 – Income Taxes The Corporation’s provision for income taxes in interim periods is computed by applying its estimated annual effective tax rate against income before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur. The magnitude of the impact that discrete items have on the Corporation’s quarterly effective tax rate is dependent on the level of income in the period. The effective tax rate was 34.6% and 21.1% for the three month periods ended May 29, 2015 and May 30, 2014, respectively. The lower than statutory rate for the three months ended May 29, 2015 is primarily related to the domestic production activities deduction, tax treatment of corporate-owned life insurance and lower tax rates in foreign jurisdictions partially offset by state income tax rates on U.S. income, net of federal benefit. The lower than statutory rate for the three months ended May 30, 2014 was due primarily to the recording of a net $3.1 million federal tax refund and related interest attributable to fiscal 2000 and the error corrections recorded in accordance with ASC Topic 250, Accounting Changes and Error Corrections. The net impact of the error corrections was a reduction to income tax expense of $4.1 million. During the three months ended May 30, 2014, the Corporation identified and corrected errors in the accounting for income taxes that related to the year ended February 28, 2014. These errors primarily related to the Corporation’s failure to consider all sources of available taxable income when assessing the need for a valuation allowance against certain deferred tax assets and the recognition of a liability for an uncertain tax position. These errors were the result of the significant complexity created as a result of the going private transaction in fiscal 2014. As discussed in Note 7, the Corporation recorded an adjustment to mark to market the value of one of its investments as of May 29, 2015. As a result, a decrease in the Corporation’s deferred tax assets in the amount of $28.5 million was recognized in other comprehensive income during the quarter. At May 29, 2015, the Corporation had unrecognized tax benefits of $21.7 million that, if recognized, would have a favorable effect on the Corporation’s income tax expense of $19.5 million. It is reasonably possible that the Corporation’s unrecognized tax positions as of May 29, 2015 could decrease $2.3 million during the next twelve months due to anticipated settlements and resulting cash payments related to tax years which are open to examination. The Corporation recognizes interest and penalties accrued on unrecognized tax benefits and refundable income taxes as a component of income tax expense. During the three months ended May 29, 2015, the Corporation recognized net expense of $0.2 million for interest and penalties on unrecognized tax benefits and refundable income taxes. As of May 29, 2015, the total amount of gross accrued interest and penalties related to unrecognized tax benefits less refundable income taxes was a net payable of $3.0 million. The Corporation is subject to examination by the Internal Revenue Service for tax years 2010 to the present and various U.S. state and local jurisdictions for tax years 2001 to the present. The Corporation is also subject to tax examination in various international tax jurisdictions, including Canada, the United Kingdom, Australia, Italy, Mexico and New Zealand for tax years 2006 to the present.

Related Party Information

Related Party Information	3 Months Ended
	May. 29, 2015
Related Party Transactions [Abstract]
Related Party Information	Note 17 – Related Party Information World headquarters relocation In May 2011, the Corporation announced that it will be relocating its world headquarters to a new location in the City of Westlake, Ohio, in a mixed-use development known as Crocker Park (the “Crocker Park Development”), which offers a vibrant urban setting, with retail stores and restaurants, offices and apartments. After putting the project on hold pending the outcome of the going private transaction, the Corporation announced plans in October 2013 to resume the project and, on March 26, 2014, the Corporation purchased from Crocker Park, LLC, the owner of the Crocker Park Development, 14.48 acres of land at the south end of the Crocker Park Development (the “Crocker Park Site”) on which the new world headquarters will be built. The purchase price for the land was $7.4 million (based on a per acre price of $510 thousand). Morry Weiss, the Chairman of the board of the Corporation, Zev Weiss and Jeffrey Weiss, directors and the Co-Chief Executive Officers of the Corporation, and Gary and Elie Weiss, directors and non-executive officers of the Corporation, together with members of their family (collectively, the “Weiss Family”), indirectly own a minority stake in Crocker Park, LLC through their indirect ownership of approximately 37% of the membership interests in Crocker Park, LLC. In addition, Morry Weiss and other members of the Weiss Family have guaranteed certain of Crocker Park, LLC’s obligations, and are expected to guarantee additional obligations of Crocker Park, LLC, incurred in connection with the Crocker Park Development. The authority to conduct, manage and control the business of Crocker Park, LLC, including operating the Crocker Park Development and the decision whether to sell the Crocker Park Site to American Greetings, was reserved to the manager of Crocker Park, LLC, who is not an affiliate of the Weiss Family and who is an affiliate of Stark Enterprises, Inc. The Corporation is leasing a portion of the Crocker Park Site to H L & L, which will construct the new world headquarters on the Crocker Park Site and sublease the new world headquarters back to the Corporation. The Corporation has also entered into an operating lease with H L & L for the use of the new world headquarters building, anticipated to be available for occupancy in calendar year 2016. The initial lease term is fifteen years and will begin upon occupancy. The annual rent is expected to be approximately $9.5 million. Furthermore, due to the Corporation’s need for incremental space, H L & L is building additional space at the new world headquarters location, which the Corporation expects will increase the annual rent by approximately $1 million. See Note 11 for further information. Although the majority of the costs to construct the new world headquarters is expected to be financed through H L & L, due to the inherent difficulty in estimating costs associated with projects of this scale and nature, the costs associated with this project may be higher than expected and the Corporation may have to dedicate additional funds to the project, including providing additional funds to H L & L. As a result, effective as of December 1, 2014, the Corporation entered into a loan agreement with H L & L under which the Corporation may from time to time make revolving loans to H L & L. Loans made to H L & L under this agreement may only be used to fund construction costs associated with the world headquarters project and the maximum principal and market-rate interest that may be outstanding as of any given time under this loan agreement may not exceed $9 million. As of May 29, 2015, there was a balance of $2.5 million outstanding under this loan agreement. There were no borrowings outstanding as of February 28, 2015. Transactions with Parent Companies and Other Affiliated Companies From time to time employees of the Corporation may provide services to its parent companies as well as companies that are owned or controlled by members of the Weiss Family, in each case provided that such services do not interfere with the Corporation’s employees’ ability to perform services on its behalf. When providing such services, the affiliated companies reimburse the Corporation for such services, based on the costs of employing the individual (including salary and benefits) and the amount of time spent by such employee in providing services to the affiliated company. The Corporation, its parent and certain of their subsidiaries and affiliates file a consolidated U.S. federal income tax return. The Corporation pays all taxes on behalf of the group included in this consolidated federal income tax return. Pursuant to this tax sharing arrangement, amounts due to affiliates totaled $1.9 million as of May 29, 2015 and February 28, 2015.

Business Segment Information

Business Segment Information	3 Months Ended
	May. 29, 2015
Segment Reporting [Abstract]
Business Segment Information	Note 18 – Business Segment Information The Corporation has North American Social Expression Products, International Social Expression Products, Retail Operations, AG Interactive and Non-reportable segments. The North American Social Expression Products and International Social Expression Products segments primarily design, manufacture and sell greeting cards and other related products through various channels of distribution with mass merchandising as the primary channel. At May 29, 2015, the Retail Operations segment operated 410 card and gift retail stores in the United Kingdom. The stores sell products purchased from the International Social Expression Products segment as well as products purchased from other vendors. AG Interactive distributes social expression products, including electronic greetings and a broad range of graphics and digital services and products, through a variety of electronic channels, including Web sites, Internet portals and electronic mobile devices. For the three months ended May 29, 2015, the Corporation’s Non-reportable segment primarily includes licensing activities. For the three months ended May 30, 2014, the Non-reportable segment also included the design, manufacture and sale of display fixtures. The display fixtures business was sold on the last day of the prior year second quarter. See Note 4 for further information. (In thousands) Three Months Ended May 29, 2015 May 30, 2014 Total Revenue: North American Social Expression Products $ 335,604 $ 329,057 International Social Expression Products 62,168 75,039 Intersegment items (10,313 ) (10,065 ) Net 51,855 64,974 Retail Operations 71,808 79,164 AG Interactive 13,430 14,499 Non-reportable segment 746 15,890 $ 473,443 $ 503,584 (In thousands) Three Months Ended May 29, 2015 May 30, 2014 Segment Earnings (Loss) Before Tax: North American Social Expression Products $ 73,127 $ 69,364 International Social Expression Products (5,010 ) 3,762 Intersegment items 751 (2,310 ) Net (4,259 ) 1,452 Retail Operations (8,143 ) (4,040 ) AG Interactive 4,871 5,412 Non-reportable segment 60,347 4,015 Unallocated Interest expense (8,113 ) (8,994 ) Profit-sharing plan expense (1,675 ) (4,079 ) Corporate overhead expense (4,822 ) (7,694 ) (14,610 ) (20,767 ) $ 111,333 $ 55,436 “Corporate overhead expense” includes costs associated with corporate operations including, among other costs, senior management, corporate finance, legal, and insurance programs. For the three months ended May 29, 2015, Non-reportable segment earnings includes a gain of $61.7 million from the sale of Strawberry Shortcake. See Note 4 for further information. Termination Benefits Termination benefits are primarily considered part of an ongoing benefit arrangement, accounted for in accordance with ASC Topic 712, “Compensation – Nonretirement Postemployment Benefits,” and are recorded when payment of the benefits is probable and can be reasonably estimated. The balance of the severance accrual was $3.3 million, $4.3 million and $3.9 million at May 29, 2015, February 28, 2015 and May 30, 2014, respectively. The payments expected within the next twelve months are included in “Accrued liabilities” while the remaining payments beyond the next twelve months are included in “Other liabilities” on the Consolidated Statement of Financial Position.

Recent Accounting Pronounceme25

Recent Accounting Pronouncements (Policies)	3 Months Ended
	May. 29, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy	In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2015-03 (“ASU 2015-03”), “Simplifying the Presentation of Debt Issuance Costs”. ASU 2015-03 requires that all costs incurred to issue debt be presented in the balance sheet as a direct reduction from the carrying value of the debt, similar to the presentation of debt discounts. ASU 2015-03 is effective for public business entities for fiscal years beginning after December 15, 2015 and interim periods within those fiscal years, with early adoption permitted. The Corporation does not expect that the adoption of this standards update will have a material impact on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, (“ASU 2014-15”), “Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern”. ASU 2014-15 requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity’s ability to continue as a going concern. ASU 2014-15 applies to all entities and is effective for annual and interim reporting periods ending after December 15, 2016, with early adoption permitted. The Corporation does not expect that the adoption of this standards update will impact its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, (“ASU 2014-09”), “Revenue from Contracts with Customers”. The objective of ASU 2014-19 is to establish a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The core principle of ASU 2014-09 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the new guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 applies to all contracts with customers except those that are within the scope of other topics in the FASB Accounting Standards Codification. On July 9, 2015, the FASB agreed to delay the effective date of ASU 2014-09 by one year. In accordance with the agreed upon delay the new guidance is effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017 for public companies. Early adoption is permitted but not before annual periods beginning after December 15, 2016. Entities have the option of using either a full retrospective or modified approach to adopt ASU 2014-09. The Corporation is currently evaluating the new guidance and has not determined the impact this standard may have on its financial statements nor decided upon the method of adoption.

Royalty Revenue and Related E26

Royalty Revenue and Related Expenses (Tables)	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Revenues and Expenses Associated with Servicing of Agreements	Revenues and expenses associated with the servicing of these agreements, primarily relating to the licensing activities included in the Non-reportable segment, are summarized as follows: Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Royalty revenue $ 1,129 $ 5,938 Royalty expenses: Material, labor and other production costs $ 934 $ 1,544 Selling, distribution and marketing expenses 703 1,576 Administrative and general expenses 367 472 $ 2,004 $ 3,592

Other Income and Expense (Table

Other Income and Expense (Tables)	3 Months Ended
	May. 29, 2015
Other Income and Expenses [Abstract]
Other Operating Income - Net	Other Operating Income – Net Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Gain on sale of Strawberry Shortcake $ (61,666 ) $ — Clinton Cards secured debt recovery — (3,390 ) Loss on asset disposal 9 23 Miscellaneous (763 ) 1,399 Other operating income – net $ (62,420 ) $ (1,968 )
Other Non-Operating Income - Net	Other Non-Operating Income – Net Three Months Ended (In thousands) May 29, 2015 May 30, 2014 Foreign exchange gain $ (784 ) $ (460 ) Rental income (152 ) (539 ) Miscellaneous (2 ) (108 ) Other non-operating income – net $ (938 ) $ (1,107 )

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	May. 29, 2015
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income (loss) are as follows. (In thousands) Foreign Pensions and Unrealized Total Balance at February 28, 2015 $ 1,836 $ (26,239 ) $ — $ (24,403 ) Other comprehensive income (loss) before reclassifications (2,028 ) (22 ) 44,610 42,560 Amounts reclassified from accumulated other comprehensive income (loss) — 238 — 238 Net current period other comprehensive income (loss) (2,028 ) 216 44,610 42,798 Balance at May 29, 2015 $ (192 ) $ (26,023 ) $ 44,610 $ 18,395
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The reclassifications out of accumulated other comprehensive income (loss) are as follows: (In thousands) Three Months Ended Consolidated Statement of Income Pensions and Postretirement Benefits: Amortization of pensions and other postretirement benefits items Actuarial losses, net $ (548 ) Administrative and general expenses Prior service credit, net 174 Administrative and general expenses (374 ) Tax benefit 136 Income tax expense Total, net of tax (238 ) Total reclassifications $ (238 )

Customer Allowances and Disco29

Customer Allowances and Discounts (Tables)	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Allowances and Discounts Trade Accounts Receivable	Trade accounts receivable are reported net of certain allowances and discounts. The most significant of these are as follows: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Allowance for seasonal sales returns $ 20,026 $ 18,895 $ 23,214 Allowance for outdated products 10,547 11,074 10,313 Allowance for doubtful accounts 1,603 1,730 2,115 Allowance for marketing funds 26,373 26,841 33,027 Allowance for rebates 24,828 34,214 29,236 $ 83,377 $ 92,754 $ 97,905

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	May. 29, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	(In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Raw materials $ 18,271 $ 14,809 $ 27,109 Work in process 11,310 7,578 12,774 Finished products 294,217 297,899 284,415 323,798 320,286 324,298 Less LIFO reserve 81,314 80,755 82,746 242,484 239,531 241,552 Display materials and factory supplies 8,638 9,046 18,285 $ 251,122 $ 248,577 $ 259,837

Deferred Costs (Tables)

Deferred Costs (Tables)	3 Months Ended
	May. 29, 2015
Text Block [Abstract]
Deferred Costs and Future Payment Commitments	Deferred costs and future payment commitments for retail supply agreements are included in the following financial statement captions: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Prepaid expenses and other $ 95,001 $ 98,061 $ 93,125 Other assets 429,532 364,311 420,358 Deferred cost assets 524,533 462,372 513,483 Other current liabilities (53,530 ) (59,018 ) (81,154 ) Other liabilities (177,133 ) (104,127 ) (144,762 ) Deferred cost liabilities (230,663 ) (163,145 ) (225,916 ) Net deferred costs $ 293,870 $ 299,227 $ 287,567

Debt (Tables)

Debt (Tables)	3 Months Ended
	May. 29, 2015
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt and their related calendar year due dates as of May 29, 2015, February 28, 2015 and May 30, 2014, respectively, were as follows: (In thousands) May 29, 2015 February 28, 2015 May 30, 2014 Term loan, due 2019 $ 185,000 $ 250,000 $ 335,000 7.375% senior notes, due 2021 225,000 225,000 225,000 Revolving credit facility, due 2018 58,000 4,300 66,600 6.10% senior notes, due 2028 181 181 181 Unamortized financing fees (4,712 ) (6,752 ) (10,079 ) 463,469 472,729 616,702 Current portion of term loan — — (20,000 ) $ 463,469 $ 472,729 $ 596,702

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	May. 29, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Periodic Benefit Cost for Corporation's Defined Benefit Pension and Postretirement Benefits Plans	The components of periodic benefit cost for the Corporation’s defined benefit pension and postretirement benefits plans are as follows: Defined Benefit Pension Plans Postretirement Benefits Plan Three Months Ended Three Months Ended (In thousands) May 29, 2015 May 30, 2014 May 29, 2015 May 30, 2014 Service cost $ 159 $ 144 $ 125 $ 100 Interest cost 1,558 1,837 525 675 Expected return on plan assets (1,668 ) (1,623 ) (675 ) (700 ) Amortization of prior service cost (credit) 1 1 (175 ) (325 ) Amortization of actuarial loss (gain) 848 706 (300 ) (225 ) $ 898 $ 1,065 $ (500 ) $ (475 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May. 29, 2015
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value as of Measurement Date	The following table summarizes the financial assets and liabilities measured at fair value as of May 29, 2015: (In thousands) May 29, 2015 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,484 $ 11,035 $ 1,449 $ — Investment in equity securities 73,080 73,080 — — $ 85,564 $ 84,115 $ 1,449 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,448 $ 11,035 $ 2,413 $ — The following table summarizes the assets and liabilities measured at fair value as of February 28, 2015: (In thousands) February 28, 2015 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,745 $ 10,997 $ 1,748 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,412 $ 10,997 $ 2,415 $ — The following table summarizes the assets and liabilities measured at fair value as of May 30, 2014: (In thousands) May 30, 2014 Level 1 Level 2 Level 3 Assets measured on a recurring basis: Deferred compensation plan assets $ 12,218 $ 10,243 $ 1,975 $ — Liabilities measured on a recurring basis: Deferred compensation plan liabilities $ 13,214 $ 10,243 $ 2,971 $ —

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	May. 29, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information by Segment	(In thousands) Three Months Ended May 29, 2015 May 30, 2014 Total Revenue: North American Social Expression Products $ 335,604 $ 329,057 International Social Expression Products 62,168 75,039 Intersegment items (10,313 ) (10,065 ) Net 51,855 64,974 Retail Operations 71,808 79,164 AG Interactive 13,430 14,499 Non-reportable segment 746 15,890 $ 473,443 $ 503,584 (In thousands) Three Months Ended May 29, 2015 May 30, 2014 Segment Earnings (Loss) Before Tax: North American Social Expression Products $ 73,127 $ 69,364 International Social Expression Products (5,010 ) 3,762 Intersegment items 751 (2,310 ) Net (4,259 ) 1,452 Retail Operations (8,143 ) (4,040 ) AG Interactive 4,871 5,412 Non-reportable segment 60,347 4,015 Unallocated Interest expense (8,113 ) (8,994 ) Profit-sharing plan expense (1,675 ) (4,079 ) Corporate overhead expense (4,822 ) (7,694 ) (14,610 ) (20,767 ) $ 111,333 $ 55,436

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	May. 29, 2015	May. 30, 2014	Feb. 28, 2015
Adjustments for Error Correction [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Increase in net income due to decrease in tax expense		$ 4,100,000	$ 4,100,000
Schurman [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
End period of liquidity guaranty	2019-01
Schurman [Member] | Liquidity Guaranty [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of days after Schurman's lenders commence liquidation of collateral under Senior Credit Facility	91 days
Maximum exposure to loss, amount	$ 10,000,000
Schurman [Member] | Business Trade and Other Receivables [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Maximum exposure to loss, amount	26,500,000
Schurman [Member] | Operating Leases Subleased to Schurman [Member]
Basis Of Presentation And Significant Accounting Policies [Line Items]
Maximum exposure to loss, amount	$ 3,500,000

Acquisitions and Dispositions (

Acquisitions and Dispositions (Sale of Strawberry Shortcake) - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2015	May. 29, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of Strawberry Shortcake		$ 105,000
Gain on sale of Strawberry Shortcake		61,666
Strawberry Shortcake [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of Strawberry Shortcake	$ 105,000
Gain on sale of Strawberry Shortcake	$ 61,700	$ 61,700

Acquisitions and Dispositions38

Acquisitions and Dispositions (Sale of AGI In-Store) - Additional Information (Detail) - Agi In Store [Member] - USD ($) $ in Millions	Aug. 29, 2014	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of AGI In-Store	$ 73.7
Payment for working capital adjustments		$ 3.2

Acquisitions and Dispositions39

Acquisitions and Dispositions (Character Property Rights Acquisition) - Additional Information (Detail) - USD ($)	Feb. 28, 2015	Dec. 18, 2014	Mar. 31, 2015	May. 29, 2015
Indefinite-lived Intangible Assets [Line Items]
Purchase of intangible assets				$ 2,800,000
Character Property Rights [Member]
Indefinite-lived Intangible Assets [Line Items]
Purchase of intangible assets		$ 37,700,000	$ 2,800,000
Maximum additional consideration payable on resale of character property rights		$ 4,000,000
Strawberry Shortcake [Member]
Indefinite-lived Intangible Assets [Line Items]
Purchase of intangible assets	$ 26,000,000

Acquisitions and Dispositions40

Acquisitions and Dispositions (Surrender of Certain Corporate-Owned Life Insurance Policies) - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2015	May. 29, 2015
Investments, All Other Investments [Abstract]
Proceeds from surrender of corporate-owned life insurance policies	$ 24,100	$ 24,068

Royalty Revenue and Related E41

Royalty Revenue and Related Expenses - Revenues and Expenses Associated with Servicing of Agreements (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Segment Reporting Information [Line Items]
Material, labor and other production costs	$ 195,474	$ 200,786
Selling, distribution and marketing expenses	163,759	172,259
Administrative and general expenses	58,221	69,295
AG Intellectual Properties [Member] | Non-Reportable Segment [Member]
Segment Reporting Information [Line Items]
Royalty revenue	1,129	5,938
Material, labor and other production costs	934	1,544
Selling, distribution and marketing expenses	703	1,576
Administrative and general expenses	367	472
Expenses associated with royalty revenue, Total	$ 2,004	$ 3,592

Other Income and Expense - Othe

Other Income and Expense - Other Operating Income - Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Other Income and Expenses [Abstract]
Gain on sale of Strawberry Shortcake	$ (61,666)
Clinton Cards secured debt recovery		$ (3,390)
Loss on asset disposal	9	23
Miscellaneous	(763)	1,399
Other operating income - net	$ (62,420)	$ (1,968)

Other Income and Expense - Addi

Other Income and Expense - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2015	May. 29, 2015	May. 30, 2014
Other Income And Expense [Line Items]
Net gain on sale of Strawberry Shortcake		$ 61,666
Clinton Cards secured debt recovery			$ 3,390
Clinton Cards [Member]
Other Income And Expense [Line Items]
Clinton Cards secured debt recovery			$ 3,400
Strawberry Shortcake [Member]
Other Income And Expense [Line Items]
Net gain on sale of Strawberry Shortcake	$ 61,700	$ 61,700

Other Income and Expense - Ot44

Other Income and Expense - Other Non-Operating Income - Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Other Income and Expenses [Abstract]
Foreign exchange gain	$ (784)	$ (460)
Rental income	(152)	(539)
Miscellaneous	(2)	(108)
Other non-operating income - net	$ (938)	$ (1,107)

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (24,403)
Other comprehensive income (loss) before reclassifications	42,560
Amounts reclassified from accumulated other comprehensive income (loss)	238
Other comprehensive income (loss), net of tax	42,798	$ 1,843
Ending Balance	18,395	$ 2,595
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	1,836
Other comprehensive income (loss) before reclassifications	(2,028)
Other comprehensive income (loss), net of tax	(2,028)
Ending Balance	(192)
Pensions and Other Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(26,239)
Other comprehensive income (loss) before reclassifications	(22)
Amounts reclassified from accumulated other comprehensive income (loss)	238
Other comprehensive income (loss), net of tax	216
Ending Balance	(26,023)
Unrealized Investment Gain [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss) before reclassifications	44,610
Other comprehensive income (loss), net of tax	44,610
Ending Balance	$ 44,610

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Administrative and general expenses	$ (58,221)	$ (69,295)
Income (loss) before income tax expense (benefit)	111,333	55,436
Income tax expense	(38,569)	(11,697)
Total reclassifications	72,764	$ 43,739
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	(238)
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Pensions and Other Postretirement Benefits [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before income tax expense (benefit)	(374)
Income tax expense	136
Total reclassifications	(238)
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Pensions and Other Postretirement Benefits [Member] | Actuarial Losses, Net [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Administrative and general expenses	(548)
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Pensions and Other Postretirement Benefits [Member] | Prior Service Credit, Net [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Administrative and general expenses	$ 174

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) - Additional information (Detail) - USD ($)	3 Months Ended
	May. 29, 2015	Feb. 28, 2015
Statement of Comprehensive Income [Abstract]
Carrying value of investment		$ 0
Unrealized gain on equity securities	$ 44,610,000

Customer Allowances and Disco48

Customer Allowances and Discounts - Allowances and Discounts Trade Accounts Receivable (Detail) - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	$ 83,377	$ 92,754	$ 97,905
Allowance for Seasonal Sales Returns [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	20,026	18,895	23,214
Allowance for Outdated Products [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	10,547	11,074	10,313
Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	1,603	1,730	2,115
Allowance for Marketing Funds [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	26,373	26,841	33,027
Allowance for Rebates [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowances and discounts on trade accounts receivables	$ 24,828	$ 34,214	$ 29,236

Customer Allowances and Disco49

Customer Allowances and Discounts - Additional Information (Detail) - USD ($) $ in Millions	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Allowance for Rebates [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Trade allowances and discounts settled in cash	$ 14.6	$ 17	$ 14.6

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 18,271	$ 14,809	$ 27,109
Work in process	11,310	7,578	12,774
Finished products	294,217	297,899	284,415
Gross inventory	323,798	320,286	324,298
Less LIFO reserve	81,314	80,755	82,746
Inventory net of last in first out reserve	242,484	239,531	241,552
Display materials and factory supplies	8,638	9,046	18,285
Net inventory	$ 251,122	$ 248,577	$ 259,837

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Inventory Disclosure [Abstract]
Inventory held on location for retailers with scan-based trading arrangements, which is included in finished products	$ 71.8	$ 66.9	$ 76.2

Deferred Costs - Deferred Costs

Deferred Costs - Deferred Costs and Future Payment Commitments (Detail) - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Deferred Costs [Abstract]
Prepaid expenses and other	$ 95,001	$ 98,061	$ 93,125
Other assets	429,532	364,311	420,358
Deferred cost assets	524,533	462,372	513,483
Other current liabilities	(53,530)	(59,018)	(81,154)
Other liabilities	(177,133)	(104,127)	(144,762)
Deferred cost liabilities	(230,663)	(163,145)	(225,916)
Net deferred costs	$ 293,870	$ 299,227	$ 287,567

Deferred Costs - Additional Inf

Deferred Costs - Additional Information (Detail) - USD ($) $ in Millions	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Deferred Costs [Abstract]
Allowance for deferred costs related to supply agreements	$ 2.2	$ 2.3	$ 3.6

Other Liabilities - Additional

Other Liabilities - Additional Information (Detail) - WHQ Development [Member] - USD ($) $ in Millions	3 Months Ended
	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Schedule Of Other Liabilities [Line Items]
Anticipated year of completion for new world headquarters building	2,016
New World Headquarters construction costs to date	$ 39.3	$ 31.7	$ 0.9
Offsetting liability	$ 39.3	$ 31.7	$ 0.9

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Mar. 31, 2015	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Debt Disclosure [Line Items]
Debt due within one year		$ 0	$ 0	$ 20,000,000
Letters of credit outstanding		26,400,000
Unamortized financing fees written off		1,800,000
Carrying value of Corporation's non-publicly traded debt		185,000,000	250,000,000	335,000,000
Non Publicly Traded [Member] | Level 2 [Member]
Debt Disclosure [Line Items]
Fair value of traded debt		242,500,000	251,800,000	401,600,000
Carrying value of Corporation's non-publicly traded debt		$ 243,000,000	254,300,000	401,600,000
Term Loan Facility [Member]
Debt Disclosure [Line Items]
Interest on credit facility borrowings		2.70%
Voluntary prepayments on term loan facility	$ 65,000,000
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Interest on credit facility borrowings		2.90%
Current borrowing capacity		$ 250,000,000
Publicly Traded [Member] | Level 1 [Member]
Debt Disclosure [Line Items]
Fair value of traded debt		238,600,000	238,200,000	236,400,000
Carrying value of Corporation's publicly traded debt		225,200,000	225,200,000	225,200,000
Accounts Receivable Facility [Member]
Debt Disclosure [Line Items]
Debt due within one year		0	$ 0	$ 0
Available financing of receivables purchase agreement		$ 50,000,000

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Debt Disclosure [Line Items]
Term loan, due 2019	$ 185,000	$ 250,000	$ 335,000
Revolving credit facility, due 2018	58,000	4,300	66,600
Unamortized financing fees	(4,712)	(6,752)	(10,079)
Long-term debt	463,469	472,729	616,702
Long-term debt	463,469	472,729	616,702
Current portion of term loan	0	0	(20,000)
Long-term debt, Non current	463,469	472,729	596,702
7.375% Senior Notes, Due 2021 [Member]
Debt Disclosure [Line Items]
Notes	225,000	225,000	225,000
6.10% Senior Notes, Due 2028 [Member]
Debt Disclosure [Line Items]
Notes	$ 181	$ 181	$ 181

Debt - Long-Term Debt (Parenthe

Debt - Long-Term Debt (Parenthetical) (Detail)	3 Months Ended		12 Months Ended
	May. 29, 2015	May. 30, 2014	Feb. 28, 2015
Term Loan [Member]
Debt Disclosure [Line Items]
Due year	2,019	2,019	2,019
7.375% Senior Notes, Due 2021 [Member]
Debt Disclosure [Line Items]
Interest rate of debt	7.375%	7.375%	7.375%
Due year	2,021	2,021	2,021
Revolving Credit Facility, Due 2018 [Member]
Debt Disclosure [Line Items]
Due year	2,018	2,018	2,018
6.10% Senior Notes, Due 2028 [Member]
Debt Disclosure [Line Items]
Interest rate of debt	6.10%	6.10%	6.10%
Due year	2,028	2,028	2,028

Retirement Benefits - Component

Retirement Benefits - Components of Periodic Benefit Cost for Corporation's Defined Benefit Pension and Postretirement Benefits Plans (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Defined Benefit Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 159	$ 144
Interest cost	1,558	1,837
Expected return on plan assets	(1,668)	(1,623)
Amortization of prior service cost (credit)	1	1
Amortization of actuarial loss (gain)	848	706
Defined benefit plan, net periodic benefit cost, total	898	1,065
Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	125	100
Interest cost	525	675
Expected return on plan assets	(675)	(700)
Amortization of prior service cost (credit)	(175)	(325)
Amortization of actuarial loss (gain)	(300)	(225)
Defined benefit plan, net periodic benefit cost, total	$ (500)	$ (475)

Retirement Benefits - Additiona

Retirement Benefits - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	May. 29, 2015	May. 30, 2014	Feb. 28, 2015
Defined Benefit Plan Disclosure [Line Items]
Liability for postretirement benefits other than pensions	$ 18.5	$ 18.7	$ 17.5
Long-term liability for pension benefits	80.3	76	$ 81.9
Profit-Sharing Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Corporate contributions to the 401(k) employee contribution plan	1.7	4.1
401 (k) [Member] | United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Corporate contributions to the 401(k) employee contribution plan	$ 1.2	$ 1.3

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value as of Measurement Date (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	May. 29, 2015	Feb. 28, 2015	May. 30, 2014
Assets measured on a recurring basis:
Deferred compensation plan assets	$ 12,484	$ 12,745	$ 12,218
Investment in equity securities	73,080
Assets measured on a recurring basis	85,564
Liabilities measured on a recurring basis:
Deferred compensation plan liabilities	13,448	13,412	13,214
Level 1 [Member]
Assets measured on a recurring basis:
Deferred compensation plan assets	11,035	10,997	10,243
Investment in equity securities	73,080
Assets measured on a recurring basis	84,115
Liabilities measured on a recurring basis:
Deferred compensation plan liabilities	11,035	10,997	10,243
Level 2 [Member]
Assets measured on a recurring basis:
Deferred compensation plan assets	1,449	1,748	1,975
Assets measured on a recurring basis	1,449
Liabilities measured on a recurring basis:
Deferred compensation plan liabilities	$ 2,413	$ 2,415	$ 2,971

Contingency - Additional Inform

Contingency - Additional Information (Detail) - USD ($)	Mar. 31, 2015	Mar. 30, 2015	Mar. 06, 2015	May. 29, 2015
Loss Contingencies [Line Items]
Contingencies description				In accordance with ASC Topic 450, "Contingencies," the Corporation accrues for these contingencies by a charge to income when it is both probable that one or more future events will occur confirming the fact of a loss and the amount of the loss can be reasonably estimated.
Settlement fund to pay claims		$ 4,000,000
Violation Of Telephone Consumer Protection Act [Member]
Loss Contingencies [Line Items]
Damage amount for each violation			$ 500
Willful Violation Of Telephone Consumer Protection Act [Member]
Loss Contingencies [Line Items]
Damage amount for each violation			$ 1,500
Maximum [Member]
Loss Contingencies [Line Items]
Period of funding settlement	20 days

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May. 29, 2015	May. 30, 2014	Feb. 28, 2015
Income Taxes [Line Items]
Income tax expense benefit computation description	The Corporation's provision for income taxes in interim periods is computed by applying its estimated annual effective tax rate against income before income tax expense for the period. In addition, non-recurring or discrete items are recorded during the period in which they occur.
Effective tax rate	34.60%	21.10%
Federal tax refund		$ 3.1
Tax on unrealized investment gains (losses) accounted for in other comprehensive income	$ (28.5)
Unrecognized tax benefits	21.7
Effect on income tax expense if unrecognized tax benefits are recognized	19.5
Decrease in unrecognized tax benefits	$ 2.3
Unrecognized tax benefits income tax penalties and interest accrued description	The Corporation recognizes interest and penalties accrued on unrecognized tax benefits and refundable income taxes as a component of income tax expense.
Interest and penalties on unrecognized tax expense and refundable income taxes	$ 0.2
Accrued Interest and penalties on unrecognized tax benefit	$ 3
Open tax years by major tax jurisdiction	The Corporation is subject to examination by the Internal Revenue Service for tax years 2010 to the present and various U.S. state and local jurisdictions for tax years 2001 to the present. The Corporation is also subject to tax examination in various international tax jurisdictions, including Canada, the United Kingdom, Australia, Italy, Mexico and New Zealand for tax years 2006 to the present.
Adjustments for Error Correction [Member]
Income Taxes [Line Items]
Reduction in income tax expense		$ 4.1	$ 4.1

Related Party Information (Worl

Related Party Information (World headquarters relocation) - Additional Information (Detail) - WHQ Development [Member]	Mar. 26, 2014USD ($)a	May. 29, 2015USD ($)	Feb. 28, 2015USD ($)
Related Party Transaction [Line Items]
Purchase price of land	$ 7,400,000
Area of land purchased | a	14.48
Purchase price of land per acre	$ 510,000
Equity interest held by unconsolidated related party in development project owner	37.00%
Anticipated year of completion for new world headquarters building		2,016
Initial lease term		15 years
Expected annual lease rent		$ 9,500,000
Increase in annual rent		1,000,000
Construction Loan [Member]
Related Party Transaction [Line Items]
Revolving loan agreement, amount outstanding		2,500,000	$ 0
Maximum [Member] | Construction Loan [Member]
Related Party Transaction [Line Items]
Revolving loan agreement, maximum funding commitment		$ 9,000,000

Related Party Information (Tran

Related Party Information (Transactions with Parent Companies and Other Affiliated Companies) - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	May. 29, 2015	Feb. 28, 2015
Century Intermediate Holding Company [Member]
Related Party Transaction [Line Items]
Tax sharing arrangement, amounts due to affiliates	$ 1.9	$ 1.9

Business Segment Information 65

Business Segment Information (Termination Benefits and Facility Closings) - Additional Information (Detail) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2015USD ($)	May. 29, 2015USD ($)Store	Feb. 28, 2015USD ($)	May. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Gain on sale of property		$ 61,666
Compensation termination benefits description		Termination benefits are primarily considered part of an ongoing benefit arrangement, accounted for in accordance with ASC Topic 712, "Compensation - Nonretirement Postemployment Benefits," and are recorded when payment of the benefits is probable and can be reasonably estimated.
Severance accrual		$ 3,300	$ 4,300	$ 3,900
Retail Operations [Member] | United Kingdom [Member]
Segment Reporting Information [Line Items]
Number of card and gift retail stores | Store		410
Strawberry Shortcake [Member]
Segment Reporting Information [Line Items]
Gain on sale of property	$ 61,700	$ 61,700

Business Segment Information -

Business Segment Information - Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	May. 29, 2015	May. 30, 2014
Segment Reporting Information [Line Items]
Total Revenue	$ 473,443	$ 503,584
Segment Earnings (Loss) before Tax	111,333	55,436
Interest expense	(8,113)	(8,994)
Intersegment Items [Member]
Segment Reporting Information [Line Items]
Total Revenue	(10,313)	(10,065)
Segment Earnings (Loss) before Tax	751	(2,310)
Unallocated [Member]
Segment Reporting Information [Line Items]
Interest expense	(8,113)	(8,994)
Profit-sharing plan expense	(1,675)	(4,079)
Corporate overhead expense	(4,822)	(7,694)
Unallocated expense, total	(14,610)	(20,767)
North American Social Expression Products [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	335,604	329,057
Segment Earnings (Loss) before Tax	73,127	69,364
International Social Expression Products [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	62,168	75,039
Segment Earnings (Loss) before Tax	(5,010)	3,762
International Social Expression Products and Intersegment Items, Net [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	51,855	64,974
Segment Earnings (Loss) before Tax	(4,259)	1,452
Retail Operations [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	71,808	79,164
Segment Earnings (Loss) before Tax	(8,143)	(4,040)
AG Interactive [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	13,430	14,499
Segment Earnings (Loss) before Tax	4,871	5,412
Non-Reportable Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Revenue	746	15,890
Segment Earnings (Loss) before Tax	$ 60,347	$ 4,015