20230930-DK-Butterfly-1 (BBBYQ) 10-Q 9 Oct 13 2013 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Aug. 31, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	BED BATH & BEYOND INC
Document Type	10-Q
Current Fiscal Year End Date	2
Entity Common Stock, Shares Outstanding	214,745,499
Amendment Flag	FALSE
Entity Central Index Key	886158
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	31-Aug-13
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$383,336	$564,971
Short term investment securities	455,579	449,933
Merchandise inventories	2,591,247	2,466,214
Other current assets	434,299	386,367
Total current assets	3,864,461	3,867,485
Long term investment securities	81,552	77,325
Property and equipment, net	1,477,336	1,466,667
Goodwill	486,279	483,518
Other assets	398,345	384,957
Total assets	6,307,973	6,279,952
Current liabilities:
Accounts payable	1,033,709	913,365
Accrued expenses and other current liabilities	389,689	393,094
Merchandise credit and gift card liabilities	264,281	251,481
Current income taxes payable	18,616	77,270
Total current liabilities	1,706,295	1,635,210
Deferred rent and other liabilities	493,199	484,868
Income taxes payable	81,767	80,144
Total liabilities	2,281,261	2,200,222
Preferred stock - $0.01 par value; authorized - 1,000 shares; no shares issued or outstanding	0	0
Common stock - $0.01 par value; authorized - 900,000 shares; issued 334,474 and 332,696 shares, respectively; outstanding 214,745 and 221,489 shares, respectively	3,345	3,327
Additional paid-in capital	1,621,480	1,540,451
Retained earnings	8,025,406	7,573,612
Treasury stock, at cost; 119,729 and 111,207 shares, respectively	-5,614,601	-5,033,340
Accumulated other comprehensive loss	-8,918	-4,320
Total shareholders' equity	4,026,712	4,079,730
Total liabilities and shareholders' equity	$6,307,973	$6,279,952

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Thousands, except Per Share data, unless otherwise specified
Preferred stock par value (in Dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	900,000	900,000
Common stock, shares issued	334,474	332,696
Common stock, shares outstanding	214,745	221,489
Treasury stock, shares	119,729	111,207

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012	Aug. 31, 2013	Aug. 25, 2012
Net sales	$2,823,672	$2,593,015	$5,435,812	$4,811,307
Cost of sales	1,710,188	1,560,346	3,289,357	2,891,439
Gross profit	1,113,484	1,032,669	2,146,455	1,919,868
Selling, general and administrative expenses	723,718	667,532	1,433,588	1,241,333
Operating profit	389,766	365,137	712,867	678,535
Interest (expense) income, net	-1,675	269	-1,900	-787
Earnings before provision for income taxes	388,091	365,406	710,967	677,748
Provision for income taxes	138,787	141,076	259,173	246,582
Net earnings	$249,304	$224,330	$451,794	$431,166
Net earnings per share - Basic (in Dollars per share)	$1.18	$0.99	$2.11	$1.89
Net earnings per share - Diluted (in Dollars per share)	$1.16	$0.98	$2.09	$1.87
Weighted average shares outstanding - Basic (in Shares)	212,134	226,313	213,792	227,699
Weighted average shares outstanding - Diluted (in Shares)	214,697	229,308	216,516	230,995

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012	Aug. 31, 2013	Aug. 25, 2012
Net earnings	$249,304	$224,330	$451,794	$431,166
Other comprehensive (loss) income:
Change in temporary impairment of auction rate securities, net of taxes	-666	21	-888	419
Pension adjustment, net of taxes	196	425	363	448
Currency translation adjustment	-2,440	4,002	-4,073	979
Other comprehensive (loss) income	-2,910	4,448	-4,598	1,846
Comprehensive income	$246,394	$228,778	$447,196	$433,012

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012
Cash Flows from Operating Activities:
Net earnings	$451,794	$431,166
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	105,160	90,486
Stock-based compensation	28,439	23,805
Tax benefit from stock-based compensation	12,036	12,716
Deferred income taxes	-13,722	-16,862
Other	-666	-517
Increase in assets, net of effect of acquisitions:
Merchandise inventories	-125,033	-163,100
Trading investment securities	-5,696	-2,305
Other current assets	-46,977	-11,478
Other assets	-3,624	-10,718
Increase (decrease) in liabilities, net of effect of acquisitions:
Accounts payable	135,589	143,582
Accrued expenses and other current liabilities	-1,886	13,074
Merchandise credit and gift card liabilities	12,800	18,865
Income taxes payable	-57,031	-65,128
Deferred rent and other liabilities	4,412	8,537
Net cash provided by operating activities	495,595	472,123
Cash Flows from Investing Activities:
Purchase of held-to-maturity investment securities	-652,342	-281,130
Redemption of held-to-maturity investment securities	646,875	881,249
Redemption of available-for-sale investment securities		8,525
Capital expenditures	-130,322	-158,064
Payment for acquisitions, net of cash acquired		-643,269
Payment for acquisition of trademarks		-40,000
Net cash used in investing activities	-135,789	-232,689
Cash Flows from Financing Activities:
Proceeds from exercise of stock options	36,230	29,174
Excess tax benefit from stock-based compensation	3,590	3,776
Payment for credit facility assumed in acquisition		-25,511
Repurchase of common stock, including fees	-581,261	-505,574
Net cash used in financing activities	-541,441	-498,135
Net decrease in cash and cash equivalents	-181,635	-258,701
Cash and cash equivalents:
Beginning of period	564,971	1,003,166
End of period	$383,336	$744,465

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Aug. 31, 2013
Disclosure Text Block [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1) Basis of Presentation
	The accompanying consolidated financial statements have been prepared without audit. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals and elimination of intercompany balances and transactions) necessary to present fairly the financial position of Bed Bath & Beyond Inc. and subsidiaries (the "Company") as of August 31, 2013 and March 2, 2013 and the results of its operations and comprehensive income for the three and six months ended August 31, 2013 and August 25, 2012, respectively, and its cash flows for the six months ended August 31, 2013 and August 25, 2012, respectively.
	The accompanying unaudited consolidated financial statements are presented in accordance with the requirements for Form 10-Q and consequently do not include all the disclosures normally required by U.S. generally accepted accounting principles (“GAAP”). Reference should be made to Bed Bath & Beyond Inc.'s Annual Report on Form 10-K for the fiscal year ended March 2, 2013 for additional disclosures, including a summary of the Company's significant accounting policies, and to subsequently filed Forms 8-K.
	Certain reclassifications have been made to the fiscal 2012 consolidated statement of cash flows to conform to the fiscal 2013 consolidated statement of cash flows presentation.
	The Company accounts for its operations as two operating segments: North American Retail and Institutional Sales. The Institutional Sales operating segment, which is comprised of Linen Holdings, does not meet the quantitative thresholds under GAAP and therefore is not a reportable segment.

Note_2_Fair_Value_Measurements

Note 2 - Fair Value Measurements	6 Months Ended
	Aug. 31, 2013
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	2) Fair Value Measurements
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., “the exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches, including quoted market prices and discounted cash flows. The hierarchy for inputs used in measuring fair value maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs that reflect a company’s judgment concerning the assumptions that market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows:
	• Level 1 – Valuations based on quoted prices in active markets for identical instruments that the Company is able to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.
	• Level 2 – Valuations based on quoted prices in active markets for instruments that are similar, or quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
	• Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.
	As of August 31, 2013, the Company’s financial assets utilizing Level 1 inputs include long term investment securities traded on active securities exchanges. The Company did not have any financial assets utilizing Level 2 inputs. Financial assets utilizing Level 3 inputs included long term investments in auction rate securities consisting of preferred shares of closed end municipal bond funds (See “Investment Securities,” Note 4).
	To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the Company’s degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an asset or liability must be classified in its entirety based on the lowest level of input that is significant to the measurement of fair value.
	Valuation techniques used by the Company must be consistent with at least one of the three possible approaches: the market approach, income approach and/or cost approach. The Company’s Level 1 valuations are based on the market approach and consist primarily of quoted prices for identical items on active securities exchanges. The Company’s Level 3 valuations of auction rate securities, which had temporary valuation adjustments of approximately $3.5 million and $2.0 million as of August 31, 2013 and March 2, 2013, respectively, are based on the income approach, specifically, discounted cash flow analyses which utilize significant inputs based on the Company’s estimates and assumptions. As of August 31, 2013, the inputs used in the Company’s discounted cash flow analysis included current coupon rates ranging from 0.10% to 0.15%, an estimated redemption period of 5 years and a discount rate of 1.54%. The discount rate was based on market rates for risk-free tax-exempt securities, as adjusted for a risk premium to reflect the lack of liquidity of these investments. Assuming a higher discount rate, a longer estimated redemption period and lower coupon rates would result in a lower fair market value. Conversely, assuming a lower discount rate, a shorter estimated redemption period and higher coupon rates would result in a higher fair market value.
	The following tables present the valuation of the Company’s financial assets as of August 31, 2013 and March 2, 2013, measured at fair value on a recurring basis by input level:
		As of August 31, 2013
	(in millions)	Quoted Prices			Significant		Total
		in Active			Unobservable
		Markets for			Inputs
		Identical			(Level 3)
		Assets
		(Level 1)
	Long term - available-for-sale securities:
	Auction rate securities	$	-		$	47.5	$	47.5
	Long term - trading securities:
	Nonqualified deferred compensation plan assets		34			-		34
	Total	$	34		$	47.5	$	81.5
		As of March 2, 2013
	(in millions)	Quoted Prices			Significant		Total
		in Active			Unobservable
		Markets for			Inputs
		Identical			(Level 3)
		Assets
		(Level 1)
	Long term - available-for-sale securities:
	Auction rate securities	$	-		$	49	$	49
	Long term - trading securities:
	Nonqualified deferred compensation plan assets		28.3			-		28.3
	Total	$	28.3		$	49	$	77.3
	The following table presents the changes in the Company's financial assets that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
	(in millions)	Auction Rate
		Securities
	Balance on March 2, 2013, net of temporary valuation adjustment	$	49
	Change in temporary valuation adjustment included in accumulated other comprehensive loss		(1.5	)
	Redemptions at par		-
	Balance on August 31, 2013, net of temporary valuation adjustment	$	47.5
	Fair Value of Financial Instruments
	The Company’s financial instruments include cash and cash equivalents, investment securities, accounts payable and certain other liabilities. The Company’s investment securities consist primarily of U.S. Treasury securities, which are stated at amortized cost, and auction rate securities, which are stated at their approximate fair value. The book value of all financial instruments is representative of their fair values.

Note_3_Cash_and_Cash_Equivalen

Note 3 - Cash and Cash Equivalents	6 Months Ended
	Aug. 31, 2013
Cash and cash equivalents: [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	3) Cash and Cash Equivalents
	Included in cash and cash equivalents are credit and debit card receivables from banks, which typically settle within five business days, of $95.5 million and $87.8 million as of August 31, 2013 and March 2, 2013, respectively.

Note_4_Investment_Securities

Note 4 - Investment Securities	6 Months Ended
	Aug. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4) Investment Securities
	The Company’s investment securities as of August 31, 2013 and March 2, 2013 are as follows:
	(in millions)	August 31,		March 2,
		2013		2013
	Available-for-sale securities:
	Long term	$	47.5	$	49
	Trading securities:
	Long term		34		28.3
	Held-to-maturity securities:
	Short term		455.6		449.9
	Total investment securities	$	537.1	$	527.2
	Auction Rate Securities
	As of August 31, 2013 and March 2, 2013, the Company’s available-for-sale investment securities represented approximately $51.0 million par value of auction rate securities, less temporary valuation adjustments of approximately $3.5 million and $2.0 million, respectively. Since these valuation adjustments are deemed to be temporary, they are recorded in accumulated other comprehensive loss, net of a related tax benefit, and did not affect the Company’s net earnings. These securities at par are invested in preferred shares of closed end municipal bond funds, which are required, pursuant to the Investment Company Act of 1940, to maintain minimum asset coverage ratios of 200%. All of these available-for-sale investments carried triple-A credit ratings from one or more of the major credit rating agencies as of August 31, 2013 and March 2, 2013, and none of them are mortgage-backed debt obligations. As of August 31, 2013 and March 2, 2013, the Company’s available-for-sale investments have been in a continuous unrealized loss position for 12 months or more, however, the Company believes that the unrealized losses are temporary and reflect the investments’ current lack of liquidity. Due to their lack of liquidity, the Company classified approximately $47.5 million and $49.0 million of these investments as long term investment securities at August 31, 2013 and March 2, 2013, respectively.
	U.S. Treasury Securities
	As of August 31, 2013 and March 2, 2013, the Company’s short term held-to-maturity securities included approximately $455.6 million and approximately $449.9 million, respectively, of U.S. Treasury Bills with remaining maturities of less than one year. These securities are stated at their amortized cost which approximates fair value, which is based on quoted prices in active markets for identical instruments (i.e., Level 1 valuation).
	Long Term Trading Investment Securities
	The Company’s long term trading investment securities, which are provided as investment options to the participants of the nonqualified deferred compensation plan, are stated at fair market value. The values of these trading investment securities included in the table above are approximately $34.0 million and $28.3 million as of August 31, 2013 and March 2, 2013, respectively.

Note_5_Property_and_Equipment

Note 5 - Property and Equipment	6 Months Ended
	Aug. 31, 2013
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	5) Property and Equipment
	As of August 31, 2013 and March 2, 2013, included in property and equipment, net is accumulated depreciation and amortization of approximately $1.9 billion and $1.8 billion, respectively.

Note_6_StockBased_Compensation

Note 6 - Stock-Based Compensation	6 Months Ended
	Aug. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	6) Stock-Based Compensation
	The Company measures all employee stock-based compensation awards using a fair value method and records such expense, net of estimated forfeitures, in its consolidated financial statements. Currently, the Company’s stock-based compensation relates to restricted stock awards and stock options. The Company’s restricted stock awards are considered nonvested share awards.
	Stock-based compensation expense for the three and six months ended August 31, 2013 was approximately $13.6 million ($8.8 million after tax or $0.04 per diluted share) and approximately $28.4 million ($18.1 million after tax or $0.08 per diluted share), respectively. Stock-based compensation expense for the three and six months ended August 25, 2012 was approximately $11.0 million ($6.7 million after tax or $0.03 per diluted share) and approximately $23.8 million ($15.1 million after tax or $0.07 per diluted share), respectively. In addition, the amount of stock-based compensation cost capitalized for the six months ended August 31, 2013 and August 25, 2012 was approximately $0.8 million and $0.7 million, respectively.
	Incentive Compensation Plans
	The Company currently grants awards under the Bed Bath & Beyond 2012 Incentive Compensation Plan (the “2012 Plan”), which amended and restated the Bed Bath & Beyond 2004 Incentive Compensation Plan (the “2004 Plan”). The 2012 Plan includes an aggregate of 43.2 million common shares authorized for issuance. Outstanding awards that were covered by the 2004 Plan continue to be in effect under the 2012 Plan.
	The 2012 Plan is a flexible compensation plan that enables the Company to offer incentive compensation through stock options (whether nonqualified stock options or incentive stock options), restricted stock awards, stock appreciation rights, performance awards and other stock based awards, including cash awards. Under the 2012 Plan, grants are determined by the Compensation Committee for those awards granted to executive officers and by an appropriate committee for all other awards granted. Awards of stock options and restricted stock generally vest in five equal annual installments beginning one to three years from the date of grant.
	The Company generally issues new shares for stock option exercises and restricted stock awards. As of August 31, 2013, unrecognized compensation expense related to the unvested portion of the Company’s stock options and restricted stock awards was $30.9 million and $154.2 million, respectively, which is expected to be recognized over a weighted average period of 3.2 years and 3.9 years, respectively.
	Stock Options
	Stock option grants are issued at fair market value on the date of grant and generally become exercisable in either three or five equal annual installments beginning one year from the date of grant for options issued since May 10, 2010, and beginning one to three years from the date of grant for options issued prior to May 10, 2010, in each case, subject, in general to the recipient remaining in the Company’s employ or service on specified vesting dates. Option grants expire eight years after the date of grant for stock options issued since May 10, 2004, and expire ten years after the date of grant for stock options issued prior to May 10, 2004. All option grants are nonqualified.
	The fair value of the stock options granted was estimated on the date of the grant using a Black-Scholes option-pricing model that uses the assumptions noted in the following table.
		Six Months Ended
	Black-Scholes Valuation Assumptions  (1)	August 31,			August 25,
		2013			2012
	Weighted Average Expected Life (in years)  (2)		6.6			6.5
	Weighted Average Expected Volatility  (3)		29.27	%		31.07	%
	Weighted Average Risk Free Interest Rates  (4)		1.11	%		1.14	%
	Expected Dividend Yield		-			-
	(1) Forfeitures are estimated based on historical experience.
	(2) The expected life of stock options is estimated based on historical experience.
	(3) Expected volatility is based on the average of historical and implied volatility. The historical volatility is determined by observing actual prices of the Company’s stock over a period commensurate with the expected life of the awards. The implied volatility represents the implied volatility of the Company’s call options, which are actively traded on multiple exchanges, had remaining maturities in excess of twelve months, had market prices close to the exercise prices of the employee stock options and were measured on the stock option grant date.
	(4) Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of the stock options.
	Changes in the Company’s stock options for the six months ended August 31, 2013 were as follows:
	(Shares in thousands)	Number of			Weighted Average
		Stock Options			Exercise Price
	Options outstanding, beginning of period		5,006		$	42.32
	Granted		563			69.78
	Exercised		(916	)		39.54
	Forfeited or expired		(2	)		37.79
	Options outstanding, end of period		4,651		$	46.19
	Options exercisable, end of period		2,862		$	39.28
	The weighted average fair value for the stock options granted during the first six months of fiscal 2013 and 2012 was $22.28 and $22.95, respectively. The weighted average remaining contractual term and the aggregate intrinsic value for options outstanding as of August 31, 2013 was 4.0 years and $128.4 million, respectively. The weighted average remaining contractual term and the aggregate intrinsic value for options exercisable as of August 31, 2013 was 2.7 years and $98.6 million, respectively. The total intrinsic value for stock options exercised during the first six months of fiscal 2013 and 2012 was $27.5 million and $24.3 million, respectively.
	Net cash proceeds from the exercise of stock options for the first six months of fiscal 2013 were $36.2 million and the net associated income tax benefit was $15.6 million.
	Restricted Stock
	Restricted stock awards are issued and measured at fair market value on the date of grant and generally become vested in five equal annual installments beginning one to three years from the date of grant, subject, in general, to the recipient remaining in the Company’s employ or service on specified vesting dates. Vesting of restricted stock awarded to certain of the Company’s executives is dependent on the Company’s achievement of a performance-based test for the fiscal year of grant and, assuming achievement of the performance-based test, time vesting, subject, in general, to the executive remaining in the Company’s employ on specified vesting dates. The Company recognizes compensation expense related to these awards based on the assumption that the performance-based test will be achieved. Vesting of restricted stock awarded to the Company’s other employees is based solely on time vesting.
	Changes in the Company’s restricted stock for the six months ended August 31, 2013 were as follows:
	(Shares in thousands)	Number of			Weighted Average
		Restricted Shares			Grant-Date Fair
					Value
	Unvested restricted stock, beginning of period		4,063		$	45.98
	Granted		942			69.59
	Vested		(928	)		38.24
	Forfeited		(80	)		51.5
	Unvested restricted stock, end of period		3,997		$	53.23

Note_7_Shareholders_Equity

Note 7 - Shareholders' Equity	6 Months Ended
	Aug. 31, 2013
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	7) Shareholders’ Equity
	Between December 2004 and December 2012, the Company’s Board of Directors authorized, through several share repurchase programs, the repurchase of $7.450 billion of its shares of common stock. The Company has authorization to make repurchases from time to time in the open market or through other parameters approved by the Board of Directors pursuant to existing rules and regulations. The Company also purchases shares of its common stock to cover employee related taxes withheld on vested restricted stock awards. In the first six months of fiscal 2013, the Company repurchased approximately 8.5 million shares of its common stock for a total cost of approximately $581.3 million, bringing the aggregate total of common stock repurchased to approximately 119.7 million shares for a total cost of approximately $5.6 billion since the initial authorization in December 2004. The Company has approximately $1.8 billion remaining of authorized share repurchases as of August 31, 2013.

Note_8_Earnings_Per_Share

Note 8 - Earnings Per Share	6 Months Ended
	Aug. 31, 2013
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	8) Earnings Per Share
	The Company presents earnings per share on a basic and diluted basis. Basic earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding, including the dilutive effect of stock-based awards as calculated under the treasury stock method.
	Stock-based awards for the three and six months ended August 31, 2013 of approximately 1.1 million and 1.3 million, respectively, and for the three and six months ended August 25, 2012 of approximately 1.4 million and 1.2 million, respectively, were excluded from the computation of diluted earnings per share as the effect would be anti-dilutive.

Note_9_Lines_of_Credit

Note 9 - Lines of Credit	6 Months Ended
	Aug. 31, 2013
Line Of Credit Disclosure [Abstract]
Line Of Credit Disclosure [Text Block]	9) Lines of Credit
	At August 31, 2013, the Company maintained two uncommitted lines of credit of $100 million each, with expiration dates of February 28, 2014 and September 2, 2014, respectively. These uncommitted lines of credit are currently and are expected to be used for letters of credit in the ordinary course of business. During the first six months of fiscal 2013, the Company did not have any direct borrowings under the uncommitted lines of credit. Although no assurances can be provided, the Company intends to renew both uncommitted lines of credit before the respective expiration dates.

Note_10_Supplemental_Cash_Flow

Note 10 - Supplemental Cash Flow Information	6 Months Ended
	Aug. 31, 2013
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	10) Supplemental Cash Flow Information
	The Company paid income taxes of $312.4 million and $312.2 million in the first six months of fiscal 2013 and 2012, respectively. In addition, the Company had interest payments of approximately $4.6 million and $1.2 million in the first six months of fiscal 2013 and 2012, respectively.
	The Company recorded an accrual for capital expenditures of $21.7 million and $26.1 million as of August 31, 2013 and August 25, 2012, respectively.

Note_11_Acquisitions

Note 11 - Acquisitions	6 Months Ended
	Aug. 31, 2013
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	11) Acquisitions
	On June 1, 2012, the Company acquired Linen Holdings, LLC (“Linen Holdings”), a provider of a variety of textile products, amenities and other goods to institutional customers in the hospitality, cruise line, food service, healthcare and other industries, for an aggregate purchase price of approximately $108.1 million. The purchase price includes approximately $24.0 million for tradenames and approximately $40.2 million for goodwill. Linen Holdings is included within the Institutional Sales operating segment. In the first quarter of fiscal 2013, the Company finalized the valuation of assets acquired and liabilities assumed.
	Since the date of acquisition, the results of Linen Holdings’ operations, which are not material, have been included in the Company’s results of operations.
	On June 29, 2012, the Company acquired Cost Plus, Inc. (“World Market”), a retailer selling a wide range of home decorating items, furniture, gifts, holiday and other seasonal items, and specialty food and beverages, for an aggregate purchase price of approximately $560.5 million, including the payment of assumed borrowings of $25.5 million under a credit facility. The acquisition was consummated by a wholly owned subsidiary of the Company through a tender offer and merger, pursuant to which the Company acquired all of the outstanding shares of common stock of World Market. World Market is included within the North American Retail operating segment. In the first quarter of fiscal 2013, the Company finalized the valuation of assets acquired and liabilities assumed. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition.
	(in millions)	As of June 29, 2012
	Current assets	$	222
	Property and equipment and other non-current assets		132.4
	Intangible assets		211.6
	Goodwill		247.4
	Total assets acquired		813.4
	Accounts payable and other liabilities		(252.9	)
	Borrowings under credit facility		(25.5	)
	Total liabilities acquired		(278.4	)
	Total net assets acquired	$	535
	Included within intangible assets above is approximately $196.5 million for tradenames, which is not subject to amortization. The tradenames and goodwill are not expected to be deductible for tax purposes.
	Since the date of acquisition, the results of World Market’s operations, which are not material, have been included in the Company’s results of operations and no proforma disclosure of financial information has been presented.

Note_2_Fair_Value_Measurements1

Note 2 - Fair Value Measurements (Tables)	6 Months Ended
	Aug. 31, 2013
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]		As of August 31, 2013
	(in millions)	Quoted Prices			Significant		Total
		in Active			Unobservable
		Markets for			Inputs
		Identical			(Level 3)
		Assets
		(Level 1)
	Long term - available-for-sale securities:
	Auction rate securities	$	-		$	47.5	$	47.5
	Long term - trading securities:
	Nonqualified deferred compensation plan assets		34			-		34
	Total	$	34		$	47.5	$	81.5
		As of March 2, 2013
	(in millions)	Quoted Prices			Significant		Total
		in Active			Unobservable
		Markets for			Inputs
		Identical			(Level 3)
		Assets
		(Level 1)
	Long term - available-for-sale securities:
	Auction rate securities	$	-		$	49	$	49
	Long term - trading securities:
	Nonqualified deferred compensation plan assets		28.3			-		28.3
	Total	$	28.3		$	49	$	77.3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	(in millions)	Auction Rate
		Securities
	Balance on March 2, 2013, net of temporary valuation adjustment	$	49
	Change in temporary valuation adjustment included in accumulated other comprehensive loss		(1.5	)
	Redemptions at par		-
	Balance on August 31, 2013, net of temporary valuation adjustment	$	47.5

Note_4_Investment_Securities_T

Note 4 - Investment Securities (Tables)	6 Months Ended
	Aug. 31, 2013
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	(in millions)	August 31,		March 2,
		2013		2013
	Available-for-sale securities:
	Long term	$	47.5	$	49
	Trading securities:
	Long term		34		28.3
	Held-to-maturity securities:
	Short term		455.6		449.9
	Total investment securities	$	537.1	$	527.2

Note_6_StockBased_Compensation1

Note 6 - Stock-Based Compensation (Tables)	6 Months Ended
	Aug. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]		Six Months Ended
	Black-Scholes Valuation Assumptions  (1)	August 31,			August 25,
		2013			2012
	Weighted Average Expected Life (in years)  (2)		6.6			6.5
	Weighted Average Expected Volatility  (3)		29.27	%		31.07	%
	Weighted Average Risk Free Interest Rates  (4)		1.11	%		1.14	%
	Expected Dividend Yield		-			-
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	(Shares in thousands)	Number of			Weighted Average
		Stock Options			Exercise Price
	Options outstanding, beginning of period		5,006		$	42.32
	Granted		563			69.78
	Exercised		(916	)		39.54
	Forfeited or expired		(2	)		37.79
	Options outstanding, end of period		4,651		$	46.19
	Options exercisable, end of period		2,862		$	39.28
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	(Shares in thousands)	Number of			Weighted Average
		Restricted Shares			Grant-Date Fair
					Value
	Unvested restricted stock, beginning of period		4,063		$	45.98
	Granted		942			69.59
	Vested		(928	)		38.24
	Forfeited		(80	)		51.5
	Unvested restricted stock, end of period		3,997		$	53.23

Note_11_Acquisitions_Tables

Note 11 - Acquisitions (Tables)	6 Months Ended
	Aug. 31, 2013
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(in millions)	As of June 29, 2012
	Current assets	$	222
	Property and equipment and other non-current assets		132.4
	Intangible assets		211.6
	Goodwill		247.4
	Total assets acquired		813.4
	Accounts payable and other liabilities		(252.9	)
	Borrowings under credit facility		(25.5	)
	Total liabilities acquired		(278.4	)
	Total net assets acquired	$	535

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation (Details)	6 Months Ended
	Aug. 31, 2013
Disclosure Text Block [Abstract]
Number of Operating Segments	2

Note_2_Fair_Value_Measurements2

Note 2 - Fair Value Measurements (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013	Aug. 31, 2013	Aug. 31, 2013	Aug. 31, 2013	Mar. 02, 2013
	Income Approach Valuation Technique [Member]	Income Approach Valuation Technique [Member]	Income Approach Valuation Technique [Member]	Auction Rate Securities [Member]	Auction Rate Securities [Member]
		Minimum [Member]	Maximum [Member]
Note 2 - Fair Value Measurements (Details) [Line Items]
Available For Sale Securities Temporary Impairment Adjustment Accumulated Other Comprehensive Income Loss (in Dollars)				$3.50	$2
Fair Value Inputs Coupon Rate		0.10%	0.15%
Estimated Redemption Period	5 years
Fair Value Inputs, Discount Rate	1.54%

Note_2_Fair_Value_Measurements3

Note 2 - Fair Value Measurements (Details) - Valuation of Companybs Financial Assets Measured at Fair Value on a Recurring Basis by Input Level (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Millions, unless otherwise specified
Long term - available-for-sale securities:
Auction rate securities	$47.50	$49
Long term - trading securities:
Nonqualified deferred compensation plan assets	34	28.3
Auction Rate Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Long term - available-for-sale securities:
Auction rate securities	47.5	49
Auction Rate Securities [Member] | Fair Value, Measurements, Recurring [Member]
Long term - available-for-sale securities:
Auction rate securities	47.5	49
Auction Rate Securities [Member]
Long term - available-for-sale securities:
Auction rate securities	47.5	49
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Long term - trading securities:
Nonqualified deferred compensation plan assets	34	28.3
Total	34	28.3
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Long term - trading securities:
Total	47.5	49
Fair Value, Measurements, Recurring [Member]
Long term - trading securities:
Nonqualified deferred compensation plan assets	34	28.3
Total	$81.50	$77.30

Note_2_Fair_Value_Measurements4

Note 2 - Fair Value Measurements (Details) - Changes in Companybs Financial Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Auction Rate Securities [Member], USD $)	6 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013
Auction Rate Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance on March 2, 2013, net of temporary valuation adjustment	$49
Change in temporary valuation adjustment included in accumulated other comprehensive loss	-1.5
Balance on August 31, 2013, net of temporary valuation adjustment	$47.50

Note_3_Cash_and_Cash_Equivalen1

Note 3 - Cash and Cash Equivalents (Details) (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Millions, unless otherwise specified
Cash and cash equivalents: [Abstract]
Number Of Business Days For Settlement Of Credit And Debit Card Receivables	5 days
Credit and Debit Card Receivables, at Carrying Value	$95.50	$87.80

Note_4_Investment_Securities_D

Note 4 - Investment Securities (Details) (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Millions, unless otherwise specified
Note 4 - Investment Securities (Details) [Line Items]
Available-for-sale Securities, Equity Securities, Noncurrent	$47.50	$49
Held-to-maturity Securities, Current	455.6	449.9
Deferred Compensation Plan Assets	34	28.3
Auction Rate Securities [Member]
Note 4 - Investment Securities (Details) [Line Items]
Available For Sale Securities Equity Securities At Par Value	51	51
Available For Sale Securities Temporary Impairment Adjustment Accumulated Other Comprehensive Income Loss	3.5	2
Minimum Assets Coverage Ratio To Be Maintained By Funds	200.00%
Available-for-sale Securities, Equity Securities, Noncurrent	47.5	49
US Treasury Securities [Member]
Note 4 - Investment Securities (Details) [Line Items]
Held-to-maturity Securities, Current	455.6	449.9
Other Trading Investment Securities [Member]
Note 4 - Investment Securities (Details) [Line Items]
Deferred Compensation Plan Assets	$34	$28.30

Note_4_Investment_Securities_D1

Note 4 - Investment Securities (Details) - Investment Securities (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Millions, unless otherwise specified
Available-for-sale securities:
Long term	$47.50	$49
Trading securities:
Long term	34	28.3
Held-to-maturity securities:
Short term	455.6	449.9
Total investment securities	$537.10	$527.20

Note_5_Property_and_Equipment_

Note 5 - Property and Equipment (Details) (USD $)	Aug. 31, 2013	Mar. 02, 2013
In Billions, unless otherwise specified
Property, Plant and Equipment [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$1.90	$1.80

Note_6_StockBased_Compensation2

Note 6 - Stock-Based Compensation (Details) (USD $)	3 Months Ended		6 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012	Aug. 31, 2013	Aug. 25, 2012
Note 6 - Stock-Based Compensation (Details) [Line Items]
Allocated Share-based Compensation Expense	$13,600,000	$11,000,000	$28,400,000	$23,800,000
Allocated Share-based Compensation Expense, Net of Tax	8,800,000	6,700,000	18,100,000	15,100,000
Stock Based Compensation Expense Impact On Diluted Earnings Per Share (in Dollars per share)	$0.04	$0.03	$0.08	$0.07
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount			800,000	700,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares)	43.2		43.2
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Minimum			1 year
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Maximum			3 years
Proceeds from Stock Options Exercised			36,230,000	29,174,000
Employee Stock Option [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	30,900,000		30,900,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years 73 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share)			$22.28	$22.95
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term			4 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	128,400,000		128,400,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term			2 years 255 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	98,600,000		98,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			27,500,000	24,300,000
Proceeds from Stock Options Exercised			36,200,000
Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options			15,600,000
Employee Stock Option [Member] | Minimum [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			3 years
Employee Stock Option [Member] | Maximum [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Restricted Stock [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			5 years
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Minimum			1 year
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Maximum			3 years
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$154,200,000		$154,200,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			3 years 328 days
Employee Stock Option Issued Since May 10, 2010 [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Requisite Service Period			1 year
Employee Stock Option Issued Prior to May 10, 2010 [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Minimum			1 year
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Maximum			3 years
Employee Stock Option Issued Since May 10, 2004 [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			8 years
Employee Stock Option Issued Prior to May 10, 2004 [Member]
Note 6 - Stock-Based Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years

Note_6_StockBased_Compensation3

Note 6 - Stock-Based Compensation (Details) - Assumptions Used to Estimate the Black-Scholes Fair Value of Stock Options Granted	6 Months Ended
	Aug. 31, 2013		Aug. 25, 2012
Assumptions Used to Estimate the Black-Scholes Fair Value of Stock Options Granted [Abstract]
Weighted Average Expected Life (in years) (2)	6 years 219 days	[1],[2]	6 years 6 months	[1],[2]
Weighted Average Expected Volatility (3)	29.27%	[1],[3]	31.07%	[1],[3]
Weighted Average Risk Free Interest Rates (4)	1.11%	[1],[4]	1.14%	[1],[4]
Expected Dividend Yield		[1]		[1]
[1]	Forfeitures are estimated based on historical experience.
[2]	The expected life of stock options is estimated based on historical experience.
[3]	Expected volatility is based on the average of historical and implied volatility. The historical volatility is determined by observing actual prices of the Company's stock over a period commensurate with the expected life of the awards. The implied volatility represents the implied volatility of the Company's call options, which are actively traded on multiple exchanges, had remaining maturities in excess of twelve months, had market prices close to the exercise prices of the employee stock options and were measured on the stock option grant date.
[4]	Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of the stock options.

Note_6_StockBased_Compensation4

Note 6 - Stock-Based Compensation (Details) - Changes in the Companybs Stock Options (Employee Stock Option [Member], USD $)	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 31, 2013
Employee Stock Option [Member]
Note 6 - Stock-Based Compensation (Details) - Changes in the Companybs Stock Options [Line Items]
Options outstanding, beginning of period	5,006
Options outstanding, beginning of period (in Dollars per share)	$42.32
Granted	563
Granted (in Dollars per share)	$69.78
Exercised	-916
Exercised (in Dollars per share)	$39.54
Forfeited or expired	-2
Forfeited or expired (in Dollars per share)	$37.79
Options outstanding, end of period	4,651
Options outstanding, end of period (in Dollars per share)	$46.19
Options exercisable, end of period	2,862
Options exercisable, end of period (in Dollars per share)	$39.28

Note_6_StockBased_Compensation5

Note 6 - Stock-Based Compensation (Details) - Changes in the Companybs Restricted Stock (Restricted Stock [Member], USD $)	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 31, 2013
Restricted Stock [Member]
Note 6 - Stock-Based Compensation (Details) - Changes in the Companybs Restricted Stock [Line Items]
Unvested restricted stock, beginning of period	4,063
Unvested restricted stock, beginning of period (in Dollars per share)	$45.98
Granted	942
Granted (in Dollars per share)	$69.59
Vested	-928
Vested (in Dollars per share)	$38.24
Forfeited	-80
Forfeited (in Dollars per share)	$51.50
Unvested restricted stock, end of period	3,997
Unvested restricted stock, end of period (in Dollars per share)	$53.23

Note_7_Shareholders_Equity_Det

Note 7 - Shareholders' Equity (Details) (USD $)	6 Months Ended
	Aug. 31, 2013	Aug. 25, 2012	Mar. 02, 2013
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Authorized Amount	$7,450,000,000
Treasury Stock, Shares, Acquired (in Shares)	8,500,000
Payments for Repurchase of Common Stock	581,261,000	505,574,000
Treasury Stock, Shares (in Shares)	119,729,000		111,207,000
Treasury Stock, Value	5,614,601,000		5,033,340,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$1,800,000,000

Note_8_Earnings_Per_Share_Deta

Note 8 - Earnings Per Share (Details)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012	Aug. 31, 2013	Aug. 25, 2012
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.1	1.4	1.3	1.2

Note_9_Lines_of_Credit_Details

Note 9 - Lines of Credit (Details) (USD $)	Aug. 31, 2013
In Millions, unless otherwise specified
Note 9 - Lines of Credit (Details) [Line Items]
Line Of Credit Facility Number Maintained	2
Uncommitted Line of Credit Expiration Date of September 2, 2014 [Member]
Note 9 - Lines of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100
Uncommitted Line Of Credit Expiration Date of February 28, 2014 [Member]
Note 9 - Lines of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	100

Note_10_Supplemental_Cash_Flow1

Note 10 - Supplemental Cash Flow Information (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Aug. 31, 2013	Aug. 25, 2012
Supplemental Cash Flow Elements [Abstract]
Income Taxes Paid	$312.40	$312.20
Interest Paid	4.6	1.2
Capital Expenditures Incurred but Not yet Paid	$21.70	$26.10

Note_11_Acquisitions_Details

Note 11 - Acquisitions (Details) (USD $)	Aug. 31, 2013	Mar. 02, 2013	Jun. 01, 2012	Jun. 29, 2012	Jun. 01, 2012	Jun. 29, 2012
			Trade Names [Member]	Trade Names [Member]	Linen Holdings, LLC [Member]	Cost Plus [Member]
			Linen Holdings, LLC [Member]	Cost Plus [Member]
Note 11 - Acquisitions (Details) [Line Items]
Business Combination, Consideration Transferred					$108,100,000	$560,500,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets			24,000,000	196,500,000
Goodwill	486,279,000	483,518,000			40,200,000	247,400,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities						$25,500,000

Note_11_Acquisitions_Details_E

Note 11 - Acquisitions (Details) - Estimated Fair Value of the Assets Acquired and Liabilities Assumed (USD $)	Aug. 31, 2013	Mar. 02, 2013	Jun. 29, 2012
			Cost Plus [Member]
Note 11 - Acquisitions (Details) - Estimated Fair Value of the Assets Acquired and Liabilities Assumed [Line Items]
Current assets			$222,000,000
Property and equipment and other non-current assets			132,400,000
Intangible assets			211,600,000
Goodwill	486,279,000	483,518,000	247,400,000
Total assets acquired			813,400,000
Accounts payable and other liabilities			-252,900,000
Borrowings under credit facility			-25,500,000
Total liabilities acquired			-278,400,000
Total net assets acquired			$535,000,000