Document And Entity Information
| Document And Entity Information | 9 Months Ended |
| Nov. 28, 2015shares | |
| Entity Registrant Name | BED BATH & BEYOND INC |
| Entity Central Index Key | 886,158 |
| Trading Symbol | bbby |
| Current Fiscal Year End Date | --02-27 |
| Entity Filer Category | Large Accelerated Filer |
| Entity Current Reporting Status | Yes |
| Entity Voluntary Filers | No |
| Entity Well-known Seasoned Issuer | Yes |
| Entity Common Stock, Shares Outstanding (in shares) | 163,587,453 |
| Document Type | 10-Q |
| Document Period End Date | Nov. 28, 2015 |
| Document Fiscal Year Focus | 2,015 |
| Document Fiscal Period Focus | Q3 |
| Amendment Flag | false |
Consolidated Balance Sheets (Cu
| Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Nov. 28, 2015 | Feb. 28, 2015 |
| Current assets: | ||
| Cash and cash equivalents | $ 490,737,000 | $ 875,574,000 |
| Short term investment securities | 0 | 109,992,000 |
| Merchandise inventories | 3,219,667,000 | 2,731,881,000 |
| Other current assets | 480,132,000 | 366,156,000 |
| Total current assets | 4,190,536,000 | 4,083,603,000 |
| Long term investment securities | 74,666,000 | 97,160,000 |
| Property and equipment, net | 1,686,632,000 | 1,676,700,000 |
| Goodwill | 487,166,000 | 486,279,000 |
| Other assets | 404,992,000 | 415,251,000 |
| Total assets | 6,843,992,000 | 6,758,993,000 |
| Current liabilities: | ||
| Accounts payable | 1,402,968,000 | 1,156,368,000 |
| Accrued expenses and other current liabilities | 467,654,000 | 403,547,000 |
| Merchandise credit and gift card liabilities | 317,430,000 | 306,160,000 |
| Current income taxes payable | 4,327,000 | 76,606,000 |
| Total current liabilities | 2,192,379,000 | 1,942,681,000 |
| Deferred rent and other liabilities | 504,469,000 | 493,137,000 |
| Income taxes payable | 81,390,000 | 79,985,000 |
| Long term debt | 1,500,000,000 | 1,500,000,000 |
| Total liabilities | 4,278,238,000 | 4,015,803,000 |
| Shareholders' equity: | ||
| 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 337,554 and 336,667 shares, respectively; outstanding 163,587 and 174,178 shares, respectively | 3,376,000 | 3,367,000 |
| Additional paid-in capital | 1,866,071,000 | 1,796,692,000 |
| Retained earnings | 10,091,321,000 | 9,553,376,000 |
| Treasury stock, at cost; 173,967 and 162,489 shares, respectively | (9,341,450,000) | (8,567,932,000) |
| Accumulated other comprehensive loss | (53,564,000) | (42,313,000) |
| Total shareholders' equity | 2,565,754,000 | 2,743,190,000 |
| Total liabilities and shareholders' equity | $ 6,843,992,000 | $ 6,758,993,000 |
Consolidated Balance Sheets (C3
| Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Nov. 28, 2015 | Feb. 28, 2015 |
| Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
| Preferred stock, shares issued (in shares) | 0 | 0 |
| Preferred stock, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Earn
| Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Nov. 29, 2014 | |
| Net sales | $ 2,952,031,000 | $ 2,942,980,000 | $ 8,685,995,000 | $ 8,544,583,000 |
| Cost of sales | 1,836,720,000 | 1,814,006,000 | 5,385,601,000 | 5,250,679,000 |
| Gross profit | 1,115,311,000 | 1,128,974,000 | 3,300,394,000 | 3,293,904,000 |
| Selling, general and administrative expenses | 822,453,000 | 776,291,000 | 2,384,073,000 | 2,271,779,000 |
| Operating profit | 292,858,000 | 352,683,000 | 916,321,000 | 1,022,125,000 |
| Interest expense, net | 18,052,000 | 19,569,000 | 63,006,000 | 31,191,000 |
| Earnings before provision for income taxes | 274,806,000 | 333,114,000 | 853,315,000 | 990,934,000 |
| Provision for income taxes | 96,990,000 | 107,706,000 | 315,370,000 | 354,521,000 |
| Net earnings | $ 177,816,000 | $ 225,408,000 | $ 537,945,000 | $ 636,413,000 |
| Net earnings per share - Basic (in dollars per share) | $ 1.10 | $ 1.24 | $ 3.26 | $ 3.34 |
| Net earnings per share - Diluted (in dollars per share) | $ 1.09 | $ 1.23 | $ 3.22 | $ 3.31 |
| Weighted average shares outstanding - Basic (in shares) | 162,005 | 181,629 | 165,267 | 190,292 |
| Weighted average shares outstanding - Diluted (in shares) | 163,582 | 183,794 | 167,116 | 192,463 |
Consolidated Statements of Comp
| Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Nov. 29, 2014 | |
| Net earnings | $ 177,816,000 | $ 225,408,000 | $ 537,945,000 | $ 636,413,000 |
| Other comprehensive income (loss): | ||||
| Change in temporary impairment of auction rate securities, net of taxes | 0 | 205,000 | 1,186,000 | 74,000 |
| Pension adjustment, net of taxes | (38,000) | 252,000 | (479,000) | 700,000 |
| Currency translation adjustment | (2,464,000) | (8,990,000) | (11,958,000) | (6,078,000) |
| Other comprehensive income (loss) | (2,502,000) | (8,533,000) | (11,251,000) | (5,304,000) |
| Comprehensive income | $ 175,314,000 | $ 216,875,000 | $ 526,694,000 | $ 631,109,000 |
Consolidated Statements of Cash
| Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
| Nov. 28, 2015 | Nov. 29, 2014 | |
| Cash Flows from Operating Activities: | ||
| Net earnings | $ 537,945,000 | $ 636,413,000 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 193,633,000 | 179,466,000 |
| Stock-based compensation | 49,848,000 | 49,284,000 |
| Excess tax benefit from stock-based compensation | (10,380,000) | (11,127,000) |
| Deferred income taxes | 22,848,000 | (27,247,000) |
| Other | 740,000 | (1,399,000) |
| Increase in assets: | ||
| Merchandise inventories | (493,054,000) | (489,198,000) |
| Trading investment securities | (6,300,000) | (7,364,000) |
| Other current assets | (124,143,000) | (105,683,000) |
| Other assets | (6,611,000) | (1,064,000) |
| Increase (decrease) in liabilities: | ||
| Accounts payable | 288,304,000 | 236,450,000 |
| Accrued expenses and other current liabilities | 64,986,000 | 72,479,000 |
| Merchandise credit and gift card liabilities | 11,584,000 | 12,709,000 |
| Income taxes payable | (60,933,000) | (48,017,000) |
| Deferred rent and other liabilities | 21,465,000 | 6,475,000 |
| Net cash provided by operating activities | 489,932,000 | 502,177,000 |
| Cash Flows from Investing Activities: | ||
| Purchase of held-to-maturity investment securities | (16,873,000) | (219,353,000) |
| Redemption of held-to-maturity investment securities | 126,875,000 | $ 573,750,000 |
| Redemption of available-for-sale investment securities | 28,905,000 | |
| Capital expenditures | (244,255,000) | $ (232,658,000) |
| Net cash (used in) provided by investing activities | (105,348,000) | 121,739,000 |
| Cash Flows from Financing Activities: | ||
| Proceeds from exercise of stock options | 7,879,000 | 24,790,000 |
| Proceeds from issuance of senior unsecured notes | 0 | 1,500,000,000 |
| Payment of deferred financing costs | 0 | (10,092,000) |
| Prepayment under share repurchase agreement | 0 | $ (165,000,000) |
| Payment of other liabilities | (7,646,000) | |
| Excess tax benefit from stock-based compensation | 10,380,000 | $ 11,127,000 |
| Repurchase of common stock, including fees | (773,518,000) | (1,303,951,000) |
| Net cash (used in) provided by financing activities | (762,905,000) | 56,874,000 |
| Effect of exchange rate changes on cash and cash equivalents | (6,516,000) | (3,468,000) |
| Net (decrease) increase in cash and cash equivalents | (384,837,000) | 677,322,000 |
| Cash and cash equivalents: | ||
| Beginning of period | 875,574,000 | 366,516,000 |
| End of period | $ 490,737,000 | $ 1,043,838,000 |
Note 1 - Basis of Presentation
| Note 1 - Basis of Presentation | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| 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 November 28, 2015 and February 28, 2015 and the results of its operations and comprehensive income for the three and nine months ended November 28, 2015 and November 29, 2014, respectively, and its cash flows for the nine months ended November 28, 2015 and November 29, 2014, 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 February 28, 2015 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 2014 consolidated statement of cash flows to conform to the fiscal 2015 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. The Company sells a wide assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables and certain juvenile products. Sales of domestics merchandise and home furnishings for the Company accounted for approximately 36.5% and 63.5% of net sales, respectively, for the three months ended November 28, 2015 and November 29, 2014. Sales of domestics merchandise and home furnishings for the Company accounted for approximately 37.5% and 62.5% of net sales, respectively, for the nine months ended November 28, 2015 and approximately 37.4% and 62.6% of net sales, respectively, for the nine months ended November 29, 2014. Net sales outside of the U.S. were not material for the three and nine months ended November 28, 2015 and November 29, 2014. |
Note 2 - Fair Value Measurement
| Note 2 - Fair Value Measurements | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| 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. 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. 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 November 28, 2015, the Company’s financial assets utilizing Level 1 inputs included long term trading 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). Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, investment securities, accounts payable, long term debt 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 the financial instruments, excluding the Company’s long term debt, is representative of their fair values. The fair value of the Company’s long term debt is approximately $1.379 billion, which is based on quoted prices in active markets for identical instruments (i.e., Level 1 valuation), compared to the carrying value of approximately $1.500 billion. |
Note 3 - Cash and Cash Equivale
| Note 3 - Cash and Cash Equivalents | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| 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 $198.5 million and $90.3 million as of November 28, 2015 and February 28, 2015, respectively. |
Note 4 - Investment Securities
| Note 4 - Investment Securities | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 4) Investment Securities The Company’s investment securities as of November 28, 2015 and February 28, 2015 are as follows: (in millions) November 28, February 28, Available-for-sale securities: Long term $ 19.2 $ 47.9 Trading securities: Long term 55.5 49.2 Held-to-maturity securities: Short term - 110.0 Total investment securities $ 74.7 $ 207.1 Auction Rate Securities As of November 28, 2015 and February 28, 2015, the Company’s long term available-for-sale investment securities represented approximately $20.3 million and $51.0 million par value of auction rate securities, respectively, consisting of preferred shares of closed end municipal bond funds, less temporary valuation adjustments of approximately $1.1 million and $3.1 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. During the nine months ended November 28, 2015, approximately $30.7 million of these securities were tendered at a price of approximately 94% of par value for which the Company incurred a realized loss of approximately $1.8 million which is included within interest expense, net in the consolidated statement of earnings for the nine months ended November 28, 2015. The Company recorded this realized loss in the fiscal second quarter of 2015. U.S. Treasury Securities As of November 28, 2015, the Company had no short term held-to-maturity securities. As of February 28, 2015, the Company’s short term held-to-maturity securities included approximately $110.0 million 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 $55.5 million and $49.2 million as of November 28, 2015 and February 28, 2015, respectively. |
Note 5 - Property and Equipment
| Note 5 - Property and Equipment | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Property, Plant and Equipment Disclosure [Text Block] | 5) Property and Equipment As of November 28, 2015 and February 28, 2015, included in property and equipment, net is accumulated depreciation of approximately $2.5 billion and $2.3 billion, respectively. |
Note 6 - Long Term Debt
| Note 6 - Long Term Debt | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Long-term Debt [Text Block] | 6) Long Term Debt Senior Unsecured Notes On July 17, 2014, the Company issued $300 million aggregate principal amount of 3.749% senior unsecured notes due August 1, 2024, $300 million aggregate principal amount of 4.915% senior unsecured notes due August 1, 2034 and $900 million aggregate principal amount of 5.165% senior unsecured notes due August 1, 2044 (collectively, the “Notes”). Interest on the Notes is payable semi-annually on February 1 and August 1 of each year. The Notes were issued under an indenture (the “Base Indenture”), as supplemented by a first supplemental indenture (together, with the Base Indenture, the “Indenture”), which contains various restrictive covenants, which are subject to important limitations and exceptions that are described in the Indenture. The Company was in compliance with all covenants related to the Notes as of November 28, 2015. Revolving Credit Agreement On August 6, 2014, the Company entered into a $250 million five year senior unsecured revolving credit facility agreement (“Revolver”) with various lenders. During the nine months ended November 28, 2015, the Company did not have any borrowings under the Revolver. The Revolver contains customary affirmative and negative covenants and also requires the Company to maintain a minimum leverage ratio. The Company was in compliance with all covenants related to the Revolver as of November 28, 2015. Deferred financing costs associated with the Notes and the Revolver of approximately $10.1 million were capitalized and are included in other assets, net of amortization, in the accompanying Consolidated Balance Sheets. These deferred financing costs are being amortized over the term of each of the Notes and the term of the Revolver and such amortization is included in interest expense, net in the Consolidated Statement of Earnings. Interest expense related to the Notes and the Revolver, including the commitment fee and the amortization of the deferred financing costs, was approximately $18.1 million for the three months ended November 28, 2015 and November 29, 2014. Interest expense related to the Notes and the Revolver, including the commitment fee and the amortization of the deferred financing costs, was approximately $54.9 million for the nine months ended November 28, 2015 and $26.8 million for the period from July 17, 2014 through November 29, 2014. Lines of Credit At November 28, 2015, the Company maintained two uncommitted lines of credit of $100 million each, with expiration dates of February 28, 2016 and August 31, 2016, 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 nine months of fiscal 2015, 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 7 - Shareholders' Equity
| Note 7 - Shareholders' Equity | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Stockholders' Equity Note Disclosure [Text Block] | 7) Shareholders’ Equity Between December 2004 and September 2015, the Company’s Board of Directors authorized, through several share repurchase programs, the repurchase of $11.950 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 acquires shares of its common stock to cover employee related taxes withheld on vested restricted stock and performance stock unit awards. In the first nine months of fiscal 2015, the Company repurchased approximately 11.5 million shares of its common stock for a total cost of approximately $773.5 million, bringing the aggregate total of common stock repurchased to approximately 174.0 million shares for a total cost of approximately $9.3 billion since the initial authorization in December 2004. The Company has approximately $2.610 billion remaining of authorized share repurchases as of November 28, 2015. |
Note 8 - Stock-Based Compensati
| Note 8 - Stock-Based Compensation | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8) 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, stock options and performance stock units. The Company’s restricted stock awards are considered nonvested share awards. Stock-based compensation expense for the three and nine months ended November 28, 2015 was approximately $16.0 million ($10.3 million after tax or $0.06 per diluted share) and approximately $49.8 million ($31.4 million after tax or $0.19 per diluted share), respectively. Stock-based compensation expense for the three and nine months ended November 29, 2014 was approximately $15.5 million ($10.5 million after tax or $0.06 per diluted share) and approximately $49.3 million ($31.7 million after tax or $0.16 per diluted share), respectively. In addition, the amount of stock-based compensation cost capitalized for the nine months ended November 28, 2015 and November 29, 2014 was approximately $1.5 million and $1.3 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 and the ability to grant incentive stock options. 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. Awards of performance stock units generally vest over a period of four years from the date of grant dependent on the Company’s achievement of performance-based tests and subject, in general, to the executive remaining in the Company’s service on specified vesting dates. The Company generally issues new shares for stock option exercises, restricted stock awards and vesting of performance stock units. 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 service on specified vesting dates. Option grants expire eight years after the date of grant. All option grants are nonqualified. As of November 28, 2015, unrecognized compensation expense related to the unvested portion of the Company’s stock options was $26.0 million, which is expected to be recognized over a weighted average period of 2.9 years. 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. Nine Months Ended Black-Scholes Valuation Assumptions (1) November 28, November 29, Weighted Average Expected Life (in years) (2) 6.7 6.6 Weighted Average Expected Volatility (3) 27.59 % 28.31 % Weighted Average Risk Free Interest Rates (4) 1.93 % 2.11 % 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 nine months ended November 28, 2015 were as follows: (Shares in thousands) Number of Stock Options Weighted Average Exercise Price Options outstanding, beginning of period 3,682 $ 51.05 Granted 501 70.96 Exercised (221 ) 35.62 Forfeited or expired (91 ) 63.12 Options outstanding, end of period 3,871 $ 54.22 Options exercisable, end of period 2,392 $ 46.85 The weighted average fair value for the stock options granted during the first nine months of fiscal 2015 and 2014 was $23.12 and $20.96, respectively. The weighted average remaining contractual term and the aggregate intrinsic value for options outstanding as of November 28, 2015 was 3.9 years and $29.8 million, respectively. The weighted average remaining contractual term and the aggregate intrinsic value for options exercisable as of November 28, 2015 was 2.7 years and $28.6 million, respectively. The total intrinsic value for stock options exercised during the first nine months of fiscal 2015 and 2014 was $8.2 million and $19.4 million, respectively. Net cash proceeds from the exercise of stock options for the first nine months of fiscal 2015 were $7.9 million and the net associated income tax benefit was $10.2 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 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 service 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. As of November 28, 2015, unrecognized compensation expense related to the unvested portion of the Company’s restricted stock awards was $137.8 million, which is expected to be recognized over a weighted average period of 3.9 years. Changes in the Company’s restricted stock for the nine months ended November 28, 2015 were as follows: (Shares in thousands) Number of Restricted Shares Weighted Average Grant-Date Fair Value Unvested restricted stock, beginning of period 3,592 $ 57.90 Granted 747 69.84 Vested (932 ) 49.18 Forfeited (178 ) 62.44 Unvested restricted stock, end of period 3,229 $ 62.93 Performance Stock Units Performance stock units (“PSUs”) are issued and measured at fair market value on the date of grant. Vesting of PSUs awarded to certain of the Company’s executives is dependent on the Company’s achievement of a performance-based test during a one-year period from the date of grant and during a three-year period from the date of grant and, assuming achievement of the performance-based test, time vesting, subject, in general, to the executive remaining in the Company’s service on specified vesting dates. Performance during the one-year period will be based on Earnings Before Interest and Taxes (“EBIT”) margin relative to a peer group of the Company. Upon achievement of the one-year performance-based test, the corresponding PSUs will vest annually in substantially equal installments over a three year period starting one year from the date of grant. Performance during the three-year period will be based on Return on Invested Capital (“ROIC”) relative to such peer group. Upon achievement of the three-year performance-based test, the corresponding PSUs will vest on the fourth anniversary date of grant. The awards based on EBIT margin and ROIC range from a floor of zero to a cap of 150% of target achievement. PSUs are converted into shares of common stock upon payment following vesting. Upon grant of the PSUs, the Company recognizes compensation expense related to these awards based on the assumption that 100% of the target award will be achieved. The Company evaluates the target assumption on a quarterly basis and adjusts compensation expense related to these awards, as appropriate. As of November 28, 2015, unrecognized compensation expense related to the unvested portion of the Company’s performance stock units was $25.3 million, which is expected to be recognized over a weighted average period of 2.3 years. Changes in the Company’s PSUs for the nine months ended November 28, 2015 were as follows: (Shares in thousands) Number of Performance Stock Units Weighted Average Grant-Date Fair Value Unvested performance stock units, beginning of period 391 $ 62.34 Granted 370 70.96 Vested (98 ) 62.34 Forfeited (36 ) 67.15 Unvested performance stock units, end of period 627 $ 67.15 |
Note 9 - Earnings Per Share
| Note 9 - Earnings Per Share | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Earnings Per Share [Text Block] | 9) 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 nine months ended November 28, 2015 of approximately 2.7 million and 2.3 million, respectively, and November 29, 2014 of approximately 1.6 million and 1.9 million, respectively, were excluded from the computation of diluted earnings per share as the effect would be anti-dilutive. |
Note 10 - Supplemental Cash Flo
| Note 10 - Supplemental Cash Flow Information | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes to Financial Statements | |
| Cash Flow, Supplemental Disclosures [Text Block] | 10) Supplemental Cash Flow Information The Company paid income taxes of $351.2 million and $432.2 million in the first nine months of fiscal 2015 and 2014, respectively. In addition, the Company had interest payments of approximately $43.0 million and $6.8 million in the first nine months of fiscal 2015 and 2014, respectively. The Company recorded an accrual for capital expenditures of $17.5 million and $18.5 million as of November 28, 2015 and November 29, 2014, respectively. |
Note 4 - Investment Securities
| Note 4 - Investment Securities (Tables) | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes Tables | |
| Marketable Securities [Table Text Block] | (in millions) November 28, February 28, Available-for-sale securities: Long term $ 19.2 $ 47.9 Trading securities: Long term 55.5 49.2 Held-to-maturity securities: Short term - 110.0 Total investment securities $ 74.7 $ 207.1 |
Note 8 - Stock-Based Compensa18
| Note 8 - Stock-Based Compensation (Tables) | 9 Months Ended |
| Nov. 28, 2015 | |
| Notes Tables | |
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine Months Ended Black-Scholes Valuation Assumptions (1) November 28, November 29, Weighted Average Expected Life (in years) (2) 6.7 6.6 Weighted Average Expected Volatility (3) 27.59 % 28.31 % Weighted Average Risk Free Interest Rates (4) 1.93 % 2.11 % Expected Dividend Yield - - |
| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | (Shares in thousands) Number of Stock Options Weighted Average Exercise Price Options outstanding, beginning of period 3,682 $ 51.05 Granted 501 70.96 Exercised (221 ) 35.62 Forfeited or expired (91 ) 63.12 Options outstanding, end of period 3,871 $ 54.22 Options exercisable, end of period 2,392 $ 46.85 |
| Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | (Shares in thousands) Number of Restricted Shares Weighted Average Grant-Date Fair Value Unvested restricted stock, beginning of period 3,592 $ 57.90 Granted 747 69.84 Vested (932 ) 49.18 Forfeited (178 ) 62.44 Unvested restricted stock, end of period 3,229 $ 62.93 |
| Share-based Compensation, Performance Shares Award Unvested Activity [Table Text Block] | (Shares in thousands) Number of Performance Stock Units Weighted Average Grant-Date Fair Value Unvested performance stock units, beginning of period 391 $ 62.34 Granted 370 70.96 Vested (98 ) 62.34 Forfeited (36 ) 67.15 Unvested performance stock units, end of period 627 $ 67.15 |
Note 1 - Basis of Presentation
| Note 1 - Basis of Presentation (Details Textual) | 3 Months Ended | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Nov. 29, 2014 | |
| Product Concentration Risk [Member] | Domestic Merchandise [Member] | Sales Revenue, Net [Member] | ||||
| Concentration Risk, Percentage | 36.50% | 36.50% | 37.50% | 37.40% |
| Product Concentration Risk [Member] | Home Furnishings [Member] | Sales Revenue, Net [Member] | ||||
| Concentration Risk, Percentage | 63.50% | 63.50% | 62.50% | 62.60% |
| Number of Operating Segments | 2 | |||
Note 2 - Fair Value Measureme20
| Note 2 - Fair Value Measurements (Details Textual) $ in Millions | Nov. 28, 2015USD ($) |
| Long-term Debt, Fair Value | $ 1,379 |
| Long-term Debt | $ 1,500 |
Note 3 - Cash and Cash Equiva21
| Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
| Nov. 28, 2015 | Feb. 28, 2015 | |
| Number of Business Days for Settlement of Credit and Debit Card Receivable | 5 days | |
| Credit and Debit Card Receivables, at Carrying Value | $ 198.5 | $ 90.3 |
Note 4 - Investment Securitie22
| Note 4 - Investment Securities (Details Textual) - USD ($) | 9 Months Ended | |
| Nov. 28, 2015 | Feb. 28, 2015 | |
| US Treasury Securities [Member] | ||
| Held-to-maturity Securities, Current | $ 0 | $ 110,000,000 |
| Auction Rate Securities [Member] | Interest Expense [Member] | ||
| Available-for-sale Securities, Gross Realized Gain (Loss) | (1,800,000) | |
| Auction Rate Securities [Member] | ||
| Available-for-sale Securities, Long-term Investments, Amortized Cost | 20,300,000 | 51,000,000 |
| Available-for-sale Securities Temporary Impairment Adjustment Accumulated Other Comprehensive Income (Loss) | 1,100,000 | 3,100,000 |
| Available-for-sale Securities, Sold at Less than Par | $ 30,700,000 | |
| Available-for-sale Securities, Selling Price, Percentage of Par Value | 94.00% | |
| Other Trading Investment Securities [Member] | ||
| Deferred Compensation Plan Assets | $ 55,500,000 | 49,200,000 |
| Deferred Compensation Plan Assets | $ 55,500,000 | $ 49,200,000 |
Note 4 - Investment Securitie23
| Note 4 - Investment Securities - Investment Securities (Details) - USD ($) | Nov. 28, 2015 | Feb. 28, 2015 |
| Available-for-sale securities: | ||
| Long term | $ 19,200,000 | $ 47,900,000 |
| Trading securities: | ||
| Deferred Compensation Plan Assets | 55,500,000 | 49,200,000 |
| Held-to-maturity securities: | ||
| Short term | 0 | 110,000,000 |
| Total investment securities | $ 74,700,000 | $ 207,100,000 |
Note 5 - Property and Equipme24
| Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Billions | Nov. 28, 2015 | Feb. 28, 2015 |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 2.5 | $ 2.3 |
Note 6 - Long Term Debt (Detail
| Note 6 - Long Term Debt (Details Textual) | Aug. 06, 2014USD ($) | Jul. 17, 2014USD ($) | Nov. 28, 2015USD ($) | Nov. 29, 2014USD ($) | Nov. 29, 2014USD ($) | Nov. 28, 2015USD ($) |
| Senior Unsecured Notes [Member] | The 2044 Notes [Member] | ||||||
| Debt Instrument, Maturity Date | Aug. 1, 2044 | |||||
| Debt Instrument, Face Amount | $ 900,000,000 | |||||
| Debt Instrument, Interest Rate, Stated Percentage | 5.165% | |||||
| Senior Unsecured Notes [Member] | The 2034 Notes [Member] | ||||||
| Debt Instrument, Maturity Date | Aug. 1, 2034 | |||||
| Debt Instrument, Face Amount | $ 300,000,000 | |||||
| Debt Instrument, Interest Rate, Stated Percentage | 4.915% | |||||
| Senior Unsecured Notes [Member] | The 2024 Notes [Member] | ||||||
| Debt Instrument, Maturity Date | Aug. 1, 2024 | |||||
| Debt Instrument, Face Amount | $ 300,000,000 | |||||
| Debt Instrument, Interest Rate, Stated Percentage | 3.749% | |||||
| Revolver [Member] | Revolving Credit Facility [Member] | ||||||
| Line of Credit Facility, Maximum Borrowing Capacity | $ 250,000,000 | |||||
| Proceeds from Lines of Credit | $ 0 | |||||
| Debt Instrument, Term | 5 years | |||||
| Senior Unsecured Notes and Revolver [Member] | Other Assets [Member] | ||||||
| Deferred Finance Costs, Gross | $ 10,100,000 | 10,100,000 | ||||
| Senior Unsecured Notes and Revolver [Member] | ||||||
| Interest Expense | 18,100,000 | $ 18,100,000 | $ 26,800,000 | 54,900,000 | ||
| Uncommitted Line of Credit, Expiration Date of August 31, 2016 [Member] | ||||||
| Line of Credit Facility, Maximum Borrowing Capacity | 100,000,000 | 100,000,000 | ||||
| Proceeds from Lines of Credit | 0 | |||||
| Uncommitted Line of Credit Expiration Date of February 28, 2016 [Member] | ||||||
| Line of Credit Facility, Maximum Borrowing Capacity | $ 100,000,000 | 100,000,000 | ||||
| Proceeds from Lines of Credit | $ 0 | |||||
| Line of Credit Facility, Number Maintained | 2 | 2 |
Note 7 - Shareholders' Equity (
| Note 7 - Shareholders' Equity (Details Textual) - USD ($) shares in Millions | 9 Months Ended | 132 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Sep. 30, 2015 | |
| Stock Repurchase Program, Authorized Amount | $ 11,950,000,000 | |||
| Treasury Stock, Shares, Acquired | 11.5 | 174 | ||
| Payments for Repurchase of Common Stock | $ 773,518,000 | $ 1,303,951,000 | $ 9,300,000,000 | |
| Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 2,610,000,000 | $ 2,610,000,000 | ||
Note 8 - Stock-Based Compensa27
| Note 8 - Stock-Based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Millions | 3 Months Ended | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Nov. 29, 2014 | |
| The 2012 Plan [Member] | Restricted Stock [Member] | ||||
| 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 | |||
| The 2012 Plan [Member] | Employee Stock Option [Member] | Minimum [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
| The 2012 Plan [Member] | Employee Stock Option [Member] | Maximum [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||
| The 2012 Plan [Member] | Employee Stock Option [Member] | ||||
| 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 | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.12 | $ 20.96 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 328 days | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 29,800,000 | $ 29,800,000 | ||
| 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 | $ 28,600,000 | $ 28,600,000 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | 8,200,000 | $ 19,400,000 | ||
| Proceeds from Stock Options Exercised | 7,900,000 | |||
| Employee Service Share-based Compensation, Tax Benefit Realized from Exercise of Stock Options | $ 10,200,000 | |||
| The 2012 Plan [Member] | Performance Share Units [Member] | Minimum [Member] | ||||
| Share Based Compensation Arrangement By Share Based Payment Award Target Award Percentage | 0.00% | 0.00% | ||
| The 2012 Plan [Member] | Performance Share Units [Member] | Maximum [Member] | ||||
| Share Based Compensation Arrangement By Share Based Payment Award Target Award Percentage | 150.00% | 150.00% | ||
| The 2012 Plan [Member] | Performance Share Units [Member] | One-year Performance Period Awards [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
| Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period Minimum | 1 year | |||
| The 2012 Plan [Member] | Performance Share Units [Member] | Scenario Assumption [Member] | ||||
| Share Based Compensation Arrangement By Share Based Payment Award Target Award Percentage | 100.00% | 100.00% | ||
| The 2012 Plan [Member] | Performance Share Units [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
| The 2012 Plan [Member] | Employee Stock Option Issued Since May 10, 2010 [Member] | ||||
| Share Based Compensation Arrangement By Share Based Payment Award Requisite Service Period | 1 year | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 8 years | |||
| The 2012 Plan [Member] | Employee Stock Option Issued Prior To May 10, 2010 [Member] | ||||
| 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 | |||
| The 2012 Plan [Member] | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 43.2 | 43.2 | ||
| Restricted Stock [Member] | ||||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 137,800,000 | $ 137,800,000 | ||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 328 days | |||
| Employee Stock Option [Member] | ||||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 26,000,000 | $ 26,000,000 | ||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 328 days | |||
| Phantom Share Units (PSUs) [Member] | ||||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 25,300,000 | $ 25,300,000 | ||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 109 days | |||
| Allocated Share-based Compensation Expense | 16,000,000 | $ 15,500,000 | $ 49,800,000 | 49,300,000 |
| Allocated Share-based Compensation Expense, Net of Tax | $ 10,300,000 | $ 10,500,000 | $ 31,400,000 | $ 31,700,000 |
| Stock Based Compensation Expense Impact On Diluted Earnings Per Share | $ 0.06 | $ 0.06 | $ 0.19 | $ 0.16 |
| Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 1,500,000 | $ 1,300,000 | ||
| Proceeds from Stock Options Exercised | $ 7,879,000 | $ 24,790,000 | ||
Note 8 - Stock-Based Compensa28
| Note 8 - Stock-Based Compensation - Assumptions Used to Estimate the Black-Scholes Fair Value of Stock Options Granted (Details) | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | ||
| Weighted Average Expected Life (in years) (2) | [1],[2] | 6 years 255 days | 6 years 219 days |
| Weighted Average Expected Volatility (3) | [1],[3] | 27.59% | 28.31% |
| Weighted Average Risk Free Interest Rates (4) | [1],[4] | 1.93% | 2.11% |
| Expected Dividend Yield | [1] | 0.00% | 0.00% |
| [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 8 - Stock-Based Compensa29
| Note 8 - Stock-Based Compensation - Changes in the Company's Stock Options (Details) - Employee Stock Option [Member] shares in Thousands | 9 Months Ended |
| Nov. 28, 2015$ / sharesshares | |
| Options outstanding, beginning of period (in shares) | shares | 3,682 |
| Options outstanding, beginning of period (in dollars per share) | $ / shares | $ 51.05 |
| Granted (in shares) | shares | 501 |
| Granted (in dollars per share) | $ / shares | $ 70.96 |
| Exercised (in shares) | shares | (221) |
| Exercised (in dollars per share) | $ / shares | $ 35.62 |
| Forfeited or expired (in shares) | shares | (91) |
| Forfeited or expired (in dollars per share) | $ / shares | $ 63.12 |
| Options outstanding, end of period (in shares) | shares | 3,871 |
| Options outstanding, end of period (in dollars per share) | $ / shares | $ 54.22 |
| Options exercisable, end of period (in shares) | shares | 2,392 |
| Options exercisable, end of period (in dollars per share) | $ / shares | $ 46.85 |
Note 8 - Stock-Based Compensa30
| Note 8 - Stock-Based Compensation - Changes in the Company's Restricted Stock (Details) - Restricted Stock [Member] shares in Thousands | 9 Months Ended |
| Nov. 28, 2015$ / sharesshares | |
| Unvested restricted stock, beginning of period (in shares) | shares | 3,592 |
| Unvested restricted stock, beginning of period (in dollars per share) | $ / shares | $ 57.90 |
| Granted (in shares) | shares | 747 |
| Granted (in dollars per share) | $ / shares | $ 69.84 |
| Vested (in shares) | shares | (932) |
| Vested (in dollars per share) | $ / shares | $ 49.18 |
| Forfeited (in shares) | shares | (178) |
| Forfeited (in dollars per share) | $ / shares | $ 62.44 |
| Unvested restricted stock, end of period (in shares) | shares | 3,229 |
| Unvested restricted stock, end of period (in dollars per share) | $ / shares | $ 62.93 |
Note 8 - Stock-Based Compensa31
| Note 8 - Stock-Based Compensation - Changes in the Company's Performance Stock Units (Details) - Performance Shares [Member] shares in Thousands | 9 Months Ended |
| Nov. 28, 2015$ / sharesshares | |
| Unvested restricted stock, beginning of period (in shares) | shares | 391 |
| Unvested restricted stock, beginning of period (in dollars per share) | $ / shares | $ 62.34 |
| Granted (in shares) | shares | 370 |
| Granted (in dollars per share) | $ / shares | $ 70.96 |
| Vested (in shares) | shares | (98) |
| Vested (in dollars per share) | $ / shares | $ 62.34 |
| Forfeited (in shares) | shares | (36) |
| Forfeited (in dollars per share) | $ / shares | $ 67.15 |
| Unvested restricted stock, end of period (in shares) | shares | 627 |
| Unvested restricted stock, end of period (in dollars per share) | $ / shares | $ 67.15 |
Note 9 - Earnings Per Share (De
| Note 9 - Earnings Per Share (Details Textual) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
| Nov. 28, 2015 | Nov. 29, 2014 | Nov. 28, 2015 | Nov. 29, 2014 | |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2.7 | 1.6 | 2.3 | 1.9 |
Note 10 - Supplemental Cash F33
| Note 10 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
| Nov. 28, 2015 | Nov. 29, 2014 | |
| Income Taxes Paid | $ 351.2 | $ 432.2 |
| Interest Paid | 43 | 6.8 |
| Capital Expenditures Incurred but Not yet Paid | $ 17.5 | $ 18.5 |