ALBERTSONS COMPANIES, INC., 10-Q filed on 1/8/2025
Quarterly Report
v3.24.4
COVER PAGE - shares
 9 Months Ended
Nov. 30, 2024
Jan. 03, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Nov. 30, 2024  
Document Transition Report false  
Entity File Number 001-39350  
Entity Registrant Name Albertsons Companies, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 47-4376911  
Entity Address, Address Line One 250 Parkcenter Blvd.  
Entity Address, City or Town Boise  
Entity Address, State or Province ID  
Entity Address, Postal Zip Code 83706  
City Area Code 208  
Local Phone Number 395-6200  
Title of 12(b) Security Class A common stock, $0.01 par value  
Trading Symbol ACI  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   579,379,327
Entity Central Index Key 0001646972  
Current Fiscal Year End --02-22  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.24.4
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Nov. 30, 2024
Feb. 24, 2024
Current assets    
Cash and cash equivalents $ 202.3 $ 188.7
Receivables, net 929.0 724.4
Inventories, net 5,137.2 4,945.2
Other current assets 397.0 429.2
Total current assets 6,665.5 6,287.5
Property and equipment, net 9,632.9 9,570.3
Operating lease right-of-use assets 6,094.9 5,981.6
Intangible assets, net 2,349.3 2,434.5
Goodwill 1,201.0 1,201.0
Other assets 721.7 746.2
TOTAL ASSETS 26,665.3 26,221.1
Current liabilities    
Accounts payable 4,026.1 4,218.2
Accrued salaries and wages 1,352.0 1,302.6
Current maturities of long-term debt and finance lease obligations 61.3 285.2
Current maturities of operating lease obligations 686.3 677.6
Other current liabilities 1,029.4 974.1
Total current liabilities 7,155.1 7,457.7
Long-term debt and finance lease obligations 7,777.1 7,783.4
Long-term operating lease obligations 5,685.5 5,493.2
Deferred income taxes 729.3 807.6
Other long-term liabilities 1,952.6 1,931.7
Commitments and contingencies
STOCKHOLDERS' EQUITY    
Additional paid-in capital 2,169.2 2,129.6
Treasury stock, at cost, 18,404,201 and 18,397,745 shares held as of November 30, 2024 and February 24, 2024, respectively (304.2) (304.2)
Accumulated other comprehensive income 90.9 88.0
Retained earnings 1,403.8 828.2
Total stockholders' equity 3,365.7 2,747.5
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 26,665.3 26,221.1
Class A common stock    
STOCKHOLDERS' EQUITY    
Class A common stock, $0.01 par value; 1,000,000,000 shares authorized, 597,760,429 and 594,445,268 shares issued as of November 30, 2024 and February 24, 2024, respectively $ 6.0 $ 5.9
v3.24.4
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Nov. 30, 2024
Feb. 24, 2024
Treasury stock, at cost (in shares) 18,404,201 18,397,745
Class A common stock    
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,000,000,000 1,000,000,000
Common stock shares issued (in shares) 597,760,429 594,445,268
v3.24.4
Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Nov. 30, 2024
Dec. 02, 2023
Income Statement [Abstract]        
Net sales and other revenue $ 18,774.5 $ 18,557.3 $ 61,591.4 $ 60,898.2
Cost of sales 13,528.1 13,360.0 44,484.8 43,996.7
Gross margin 5,246.4 5,197.3 17,106.6 16,901.5
Selling and administrative expenses 4,717.7 4,607.3 15,777.1 15,215.7
Loss on property dispositions and impairment losses, net 10.2 23.9 59.4 43.1
Operating income 518.5 566.1 1,270.1 1,642.7
Interest expense, net 109.0 116.3 358.3 383.1
Other (income) expense, net (5.6) (6.7) 0.3 (14.6)
Income before income taxes 415.1 456.5 911.5 1,274.2
Income tax expense 14.5 95.1 124.7 228.7
Net income 400.6 361.4 786.8 1,045.5
Other comprehensive income (loss), net of tax        
Recognition of pension (loss) gain (0.8) (1.0) 1.1 (3.5)
Other (0.9) 0.8 1.8 2.9
Other comprehensive income (loss) (1.7) (0.2) 2.9 (0.6)
Comprehensive income $ 398.9 $ 361.2 $ 789.7 $ 1,044.9
Net income per Class A common share        
Basic net income per Class A common share (in dollars per share) $ 0.69 $ 0.63 $ 1.36 $ 1.82
Diluted net income per Class A common share (in dollars per share) $ 0.69 $ 0.62 $ 1.35 $ 1.80
Weighted average Class A common shares outstanding (in millions)        
Basic (in shares) 580.2 576.2 579.7 575.2
Diluted (in shares) 584.1 581.1 582.9 580.5
v3.24.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Cash flows from operating activities:    
Net income $ 786.8 $ 1,045.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss on property dispositions and impairment losses, net 59.4 43.1
Depreciation and amortization 1,396.9 1,359.9
Operating lease right-of-use assets amortization 522.0 510.7
LIFO expense 22.9 87.8
Deferred income tax (182.9) (116.5)
Contributions to pension and post-retirement benefit plans, net of expense (income) (70.7) (17.0)
Deferred financing costs 12.4 12.0
Equity-based compensation expense 87.9 80.5
Other operating activities 12.8 (14.7)
Changes in operating assets and liabilities:    
Receivables, net (205.1) (139.4)
Inventories, net (214.9) (481.6)
Accounts payable, accrued salaries and wages and other accrued liabilities (77.6) 54.1
Operating lease liabilities (435.1) (424.3)
Self-insurance assets and liabilities 35.4 31.3
Other operating assets and liabilities 171.9 (300.6)
Net cash provided by operating activities 1,922.1 1,730.8
Cash flows from investing activities:    
Payments for property, equipment and intangibles, including lease buyouts (1,446.7) (1,535.0)
Proceeds from sale of assets 24.1 201.3
Other investing activities 6.1 4.9
Net cash used in investing activities (1,416.5) (1,328.8)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, including ABL facility 50.0 150.0
Payments on long-term borrowings, including ABL facility (250.7) (500.7)
Payments of obligations under finance leases (41.1) (45.4)
Dividends paid on common stock (208.5) (207.1)
Dividends paid on convertible preferred stock 0.0 (0.8)
Employee tax withholding on vesting of restricted stock units (42.0) (37.1)
Other financing activities 0.0 2.5
Net cash used in financing activities (492.3) (638.6)
Net increase (decrease) in cash and cash equivalents and restricted cash 13.3 (236.6)
Cash and cash equivalents and restricted cash at beginning of period 193.2 463.8
Cash and cash equivalents and restricted cash at end of period $ 206.5 $ 227.2
v3.24.4
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Millions
Total
Common Stock
Common Stock
Class A Common Stock
Additional paid-in capital
Treasury Stock
Accumulated other comprehensive income
Retained earnings
Retained earnings
Class A Common Stock
Beginning balance (in shares) at Feb. 25, 2023     590,968,600          
Beginning balance at Feb. 25, 2023 $ 1,610.7   $ 5.9 $ 2,072.7 $ (352.2) $ 69.3 $ (185.0)  
Beginning balance (in shares) at Feb. 25, 2023         21,300,945      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 27.7     27.7        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)     3,059,905          
Shares issued and employee tax withholding on vesting of restricted stock units (33.1)     (33.1)        
Convertible preferred stock conversions (in shares)         (2,903,200)      
Convertible preferred stock conversions 45.7       $ 48.0   (2.3)  
Cash dividends declared on common stock (69.0)           (69.0)  
Dividends accrued on convertible preferred stock (0.3)           (0.3)  
Net income 417.2           417.2  
Other comprehensive income (loss), net of tax 1.1         1.1    
Other activity 0.0     1.0     (1.0)  
Ending balance (in shares) at Jun. 17, 2023     594,028,505          
Ending balance at Jun. 17, 2023 2,000.0   $ 5.9 2,068.3 $ (304.2) 70.4 159.6  
Ending balance (in shares) at Jun. 17, 2023         18,397,745      
Beginning balance (in shares) at Feb. 25, 2023     590,968,600          
Beginning balance at Feb. 25, 2023 1,610.7   $ 5.9 2,072.7 $ (352.2) 69.3 (185.0)  
Beginning balance (in shares) at Feb. 25, 2023         21,300,945      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 1,045.5              
Ending balance (in shares) at Dec. 02, 2023     594,390,891          
Ending balance at Dec. 02, 2023 2,527.3   $ 5.9 2,109.2 $ (304.2) 68.7 647.7  
Ending balance (in shares) at Dec. 02, 2023         18,397,745      
Beginning balance (in shares) at Jun. 17, 2023     594,028,505          
Beginning balance at Jun. 17, 2023 2,000.0   $ 5.9 2,068.3 $ (304.2) 70.4 159.6  
Beginning balance (in shares) at Jun. 17, 2023         18,397,745      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 22.2     22.2        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)     199,441          
Shares issued and employee tax withholding on vesting of restricted stock units (2.0)     (2.0)        
Cash dividends declared on common stock (69.0)           (69.0)  
Net income 266.9           266.9  
Other comprehensive income (loss), net of tax (1.5)         (1.5)    
Other activity 0.0     1.1     (1.1)  
Ending balance (in shares) at Sep. 09, 2023     594,227,946          
Ending balance at Sep. 09, 2023 2,216.6   $ 5.9 2,089.6 $ (304.2) 68.9 356.4  
Ending balance (in shares) at Sep. 09, 2023         18,397,745      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 20.4     20.4        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)   162,945            
Shares issued and employee tax withholding on vesting of restricted stock units (2.0)     (2.0)        
Cash dividends declared on common stock (69.1)             $ (69.1)
Net income 361.4           361.4  
Other comprehensive income (loss), net of tax (0.2)         (0.2)    
Other activity 0.2     1.2     (1.0)  
Ending balance (in shares) at Dec. 02, 2023     594,390,891          
Ending balance at Dec. 02, 2023 2,527.3   $ 5.9 2,109.2 $ (304.2) 68.7 647.7  
Ending balance (in shares) at Dec. 02, 2023         18,397,745      
Beginning balance (in shares) at Feb. 24, 2024     594,445,268          
Beginning balance at Feb. 24, 2024 $ 2,747.5   $ 5.9 2,129.6 $ (304.2) 88.0 828.2  
Beginning balance (in shares) at Feb. 24, 2024 18,397,745       18,397,745      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation $ 34.4     34.4        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)     3,048,974          
Shares issued and employee tax withholding on vesting of restricted stock units (38.5)   $ 0.1 (38.6)        
Cash dividends declared on common stock (69.5)           (69.5)  
Net income 240.7           240.7  
Other comprehensive income (loss), net of tax (1.3)         (1.3)    
Other activity (in shares)         6,456      
Other activity (0.2)     0.8     (1.0)  
Ending balance (in shares) at Jun. 15, 2024     597,494,242          
Ending balance at Jun. 15, 2024 2,913.1   $ 6.0 2,126.2 $ (304.2) 86.7 998.4  
Ending balance (in shares) at Jun. 15, 2024         18,404,201      
Beginning balance (in shares) at Feb. 24, 2024     594,445,268          
Beginning balance at Feb. 24, 2024 $ 2,747.5   $ 5.9 2,129.6 $ (304.2) 88.0 828.2  
Beginning balance (in shares) at Feb. 24, 2024 18,397,745       18,397,745      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income $ 786.8              
Ending balance (in shares) at Nov. 30, 2024     597,760,429          
Ending balance at Nov. 30, 2024 $ 3,365.7   $ 6.0 2,169.2 $ (304.2) 90.9 1,403.8  
Ending balance (in shares) at Nov. 30, 2024 18,404,201       18,404,201      
Beginning balance (in shares) at Jun. 15, 2024     597,494,242          
Beginning balance at Jun. 15, 2024 $ 2,913.1   $ 6.0 2,126.2 $ (304.2) 86.7 998.4  
Beginning balance (in shares) at Jun. 15, 2024         18,404,201      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 27.9     27.9        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)     217,444          
Shares issued and employee tax withholding on vesting of restricted stock units (2.9)     (2.9)        
Cash dividends declared on common stock (69.5)           (69.5)  
Net income 145.5           145.5  
Other comprehensive income (loss), net of tax 5.9         5.9    
Other activity 0.3     1.1     (0.8)  
Ending balance (in shares) at Sep. 07, 2024     597,711,686          
Ending balance at Sep. 07, 2024 3,020.3   $ 6.0 2,152.3 $ (304.2) 92.6 1,073.6  
Ending balance (in shares) at Sep. 07, 2024         18,404,201      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Equity-based compensation 20.6     20.6        
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)   48,743            
Shares issued and employee tax withholding on vesting of restricted stock units (0.5)     (0.5)        
Cash dividends declared on common stock (69.5)           (69.5)  
Net income 400.6           400.6  
Other comprehensive income (loss), net of tax (1.7)         (1.7)    
Other activity (4.1)     (3.2)     (0.9)  
Ending balance (in shares) at Nov. 30, 2024     597,760,429          
Ending balance at Nov. 30, 2024 $ 3,365.7   $ 6.0 $ 2,169.2 $ (304.2) $ 90.9 $ 1,403.8  
Ending balance (in shares) at Nov. 30, 2024 18,404,201       18,404,201      
v3.24.4
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 4 Months Ended
Nov. 30, 2024
Sep. 07, 2024
Dec. 02, 2023
Sep. 09, 2023
Jun. 15, 2024
Jun. 17, 2023
Statement of Stockholders' Equity [Abstract]            
Dividends declared (in dollars per share) $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ 0.12
v3.24.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 9 Months Ended
Nov. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation

The accompanying interim Condensed Consolidated Financial Statements include the accounts of Albertsons Companies, Inc. and its subsidiaries (the "Company"). All significant intercompany balances and transactions were eliminated. The Condensed Consolidated Balance Sheet as of February 24, 2024 is derived from the Company's annual audited Consolidated Financial Statements, which should be read in conjunction with these Condensed Consolidated Financial Statements and which are included in the Company's Annual Report on Form 10-K for the fiscal year ended February 24, 2024, filed with the Securities and Exchange Commission (the "SEC") on April 22, 2024. Certain information in footnote disclosures normally included in annual financial statements was condensed or omitted for the interim periods presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The interim results of operations and cash flows are not necessarily indicative of those results and cash flows expected for the year. The Company's results of operations are for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023.

Significant Accounting Policies

Restricted cash: Restricted cash is included in Other current assets or Other assets depending on the remaining term of the restriction and primarily relates to surety bonds. The Company had $4.2 million and $4.5 million of restricted cash as of November 30, 2024 and February 24, 2024, respectively.

Inventories, net: Substantially all of the Company's inventories consist of finished goods valued at the lower of cost or market and net of vendor allowances. The Company primarily uses the retail inventory or cost method to determine inventory cost before application of any last-in, first-out ("LIFO") adjustment. Interim LIFO inventory costs are based on management's estimates of expected year-end inventory levels and inflation rates. The Company recorded LIFO expense of $3.5 million and $27.6 million for the 12 weeks ended November 30, 2024 and December 2, 2023, respectively, and $22.9 million and $87.8 million for the 40 weeks ended November 30, 2024 and December 2, 2023, respectively.

Equity method investments: The Company's equity method investments previously included an equity interest in Mexico Foods Parent LLC and La Fabrica Parent LLC ("El Rancho"), a Texas-based specialty grocer. During the first quarter of fiscal 2023, El Rancho exercised its contractual option to repurchase the Company's 45% ownership interest in El Rancho and the Company received proceeds of $166.1 million. As a result, the Company realized a gain of $10.5 million during the first quarter of fiscal 2023, included in Other (income) expense, net.

Convertible Common Stock and Preferred Stock: The Company's certificate of incorporation authorizes 150,000,000 shares of Class A-1 convertible common stock, par value $0.01 per share, and 100,000,000 shares of preferred stock, par value $0.01 per share, of which 1,750,000 shares of preferred stock are designated Series A convertible preferred stock ("Series A preferred stock") and 1,410,000 shares of preferred stock are designated Series A-1 convertible preferred stock ("Series A-1 preferred stock" and together with the Series A preferred stock, the "Convertible Preferred Stock"). As of November 30, 2024 and February 24, 2024, no shares of Class A-1 convertible common stock and no shares of preferred stock are issued or outstanding.

Income taxes: Income tax expense was $14.5 million, representing a 3.5% effective tax rate, for the 12 weeks ended November 30, 2024. The Company's effective tax rate for the 12 weeks ended November 30, 2024 differs from the federal income tax statutory rate of 21% primarily due to the recognition of $81.0 million of discrete state income tax benefits related to the settlement of audits. Income tax expense was $95.1 million, representing a 20.8% effective tax rate, for the 12 weeks ended December 2, 2023. The Company's effective tax rate for the 12 weeks
ended December 2, 2023 differs from the federal income tax statutory rate of 21% primarily due to an increase in federal tax credits.

Income tax expense was $124.7 million, representing a 13.7% effective tax rate, for the 40 weeks ended November 30, 2024. The Company's effective tax rate for the 40 weeks ended November 30, 2024 differs from the federal income tax statutory rate of 21% primarily due to the recognition of $81.0 million of discrete state income tax benefits related to the settlement of audits. Income tax expense was $228.7 million, representing a 17.9% effective tax rate, for the 40 weeks ended December 2, 2023. The Company's effective tax rate for the 40 weeks ended December 2, 2023 differs from the federal income tax statutory rate of 21% primarily due to the reduction of a reserve of $49.7 million for an uncertain tax position due to the expiration of a foreign statute during the first quarter of fiscal 2023, federal tax credits, as well as discrete benefits recognized for state income taxes.

Segments: The Company and its subsidiaries offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. The Company's operating divisions are geographically based, have similar economic characteristics and similar expected long-term financial performance. The Company's operating segments and reporting units are its 12 operating divisions, which are reported in one reportable segment. Each reporting unit constitutes a business for which discrete financial information is available and for which management regularly reviews the operating results. Across all operating segments, the Company operates primarily one store format. Each division offers through its stores and digital channels the same general mix of products with similar pricing to similar categories of customers, has similar distribution methods, operates in similar regulatory environments and purchases merchandise from similar or the same vendors.

Revenue recognition: Revenues from the retail sale of products are recognized at the point of sale or delivery to the customer, net of returns and sales tax. Pharmacy sales are recorded upon the customer receiving the prescription. Third-party receivables from pharmacy sales were $545.3 million and $376.1 million as of November 30, 2024 and February 24, 2024, respectively, and are recorded in Receivables, net. For digital related sales, which primarily include home delivery and Drive Up & Go curbside pickup, revenues are recognized upon either pickup in store or delivery to the customer and may include revenue for separately charged delivery services. The Company records a contract liability when rewards are earned by customers in connection with the Company's loyalty programs. As rewards are redeemed or expire, the Company reduces the contract liability and recognizes revenue. The contract liability balance was immaterial as of November 30, 2024 and February 24, 2024.

The Company records a contract liability when it sells its own proprietary gift cards. The Company records a sale when the customer redeems the gift card. The Company's gift cards do not expire. The Company reduces the contract liability and records revenue for the unused portion of gift cards in proportion to its customers' pattern of redemption, which the Company determined to be the historical redemption rate. The Company's contract liability related to gift cards was $119.3 million and $111.4 million as of November 30, 2024 and February 24, 2024, respectively.
Disaggregated Revenues

The following table represents Net sales and other revenue by product type (dollars in millions):
12 weeks ended40 weeks ended
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Amount (1)% of TotalAmount (1)% of TotalAmount (1)% of TotalAmount (1)% of Total
Non-perishables (2)$9,299.9 49.5 %$9,242.8 49.8 %$30,618.9 49.7 %$30,566.5 50.2 %
Fresh (3)5,735.2 30.5 5,709.0 30.8 19,557.5 31.8 19,517.7 32.0 
Pharmacy2,581.9 13.8 2,282.8 12.3 7,336.7 11.9 6,323.9 10.4 
Fuel885.2 4.7 1,046.7 5.6 3,157.4 5.1 3,573.9 5.9 
Other (4)272.3 1.5 276.0 1.5 920.9 1.5 916.2 1.5 
Net sales and other revenue$18,774.5 100.0 %$18,557.3 100.0 %$61,591.4 100.0 %$60,898.2 100.0 %
(1) Digital related sales are included in the categories to which the revenue pertains.
(2) Consists primarily of general merchandise, grocery, dairy and frozen foods.
(3) Consists primarily of produce, meat, deli and prepared foods, bakery, floral and seafood.
(4) Consists primarily of wholesale revenue to third parties, commissions, rental income and other miscellaneous revenue.

Recently issued accounting standards: In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The ASU enhances the transparency and decision usefulness of income tax disclosures and is effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." The ASU requires disclosures about specific types of expenses, including purchases of inventory, employee compensation, depreciation and amortization. The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.
v3.24.4
TERMINATION OF THE MERGER AGREEMENT
 9 Months Ended
Nov. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
TERMINATION OF THE MERGER AGREEMENT TERMINATION OF THE MERGER AGREEMENT
As previously disclosed, on October 13, 2022, the Company, The Kroger Co. ("Kroger") and Kettle Merger Sub, Inc., a wholly owned subsidiary of Kroger ("Merger Sub"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which Merger Sub would have been merged with and into the Company (the "Merger"), with the Company surviving the Merger as the surviving corporation and a direct, wholly owned subsidiary of Kroger.
Pursuant to the Merger Agreement, each share of Class A common stock issued and outstanding immediately prior to the effective time of the Merger (the "Effective Time"), would have converted automatically at the Effective Time into the right to receive from Kroger $34.10 per share in cash, without interest, reduced by the special cash dividend of $6.85 per share of Class A common stock which was paid on January 20, 2023. The adjusted per share cash purchase price was expected to be $27.25 per share of Class A common stock. All outstanding Company equity awards would have converted to Kroger equity awards as described in the Merger Agreement.

In connection with obtaining the requisite regulatory approval to consummate the Merger, on September 8, 2023, the Company and Kroger announced that the parties had entered into a definitive agreement with C&S Wholesale Grocers, LLC ("C&S") for the sale of select stores, banners, distribution centers, offices and private label brands. On April 22, 2024, the Company and Kroger announced they had amended the definitive agreement with C&S. The divestiture to C&S was subject to fulfillment of customary closing conditions, including clearance by the United States Federal Trade Commission ("FTC") and the completion of the proposed Merger.

On February 26, 2024, the FTC instituted an administrative proceeding to prohibit the Merger. On the same day, the FTC (joined by nine states) filed suit in the United States District Court for the District of Oregon, requesting a preliminary injunction to enjoin the consummation of the Merger. On January 15, 2024 and February 14, 2024, the attorneys general of the States of Washington and Colorado, respectively, filed suit in their respective state courts, also seeking to enjoin the consummation of the Merger.

On December 10, 2024, subsequent to the end of the third quarter of fiscal 2024, the United States District Court for the District of Oregon issued a preliminary injunction in the case Federal Trade Commission et al. v. The Kroger Company and Albertsons Companies, Inc. (Case No.: 3:24-cv-00347-AN), whereby the court enjoined the consummation of the Merger. In light of the preliminary injunction, and in accordance with Section 8.1(e) of the Merger Agreement, the Company exercised its right to terminate the Merger Agreement and sent a notice to Kroger on December 10, 2024 terminating the Merger Agreement.

On December 10, 2024, the King County Superior Court for the State of Washington issued a permanent injunction in the case State of Washington v. Kroger Co. et al (Case No.: 24-2-00977-9 SEA) whereby it enjoined the consummation of the Merger.

As of the date of this filing, the Colorado court has not yet issued a decision.

Following the Company's termination of the Merger Agreement, on December 10, 2024, the Company filed a lawsuit against Kroger in the Court of Chancery in the State of Delaware, bringing claims for willful breach of the Merger Agreement and breach of the covenant of good faith and fair dealing arising from Kroger's failure to exercise "best efforts" and to take "any and all actions" to secure regulatory approval, as was required of Kroger under the terms of the Merger Agreement. The Company is seeking damages in an amount to be determined at trial, in addition to the $600 million termination fee which Kroger is already obligated to pay to the Company under the Merger Agreement.
On December 11, 2024, Kroger delivered a termination notice to the Company, alleging that the Company's December 10, 2024 termination notice was not effective and that Kroger had no obligation to pay the $600 million termination fee because the Company allegedly failed to perform and comply in all material respects with its covenants under the Merger Agreement.
v3.24.4
FAIR VALUE MEASUREMENTS
 9 Months Ended
Nov. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The accounting guidance for fair value established a framework for measuring fair value and established a three-level valuation hierarchy for disclosure of fair value measurement. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability at the measurement date. The three levels are defined as follows:
Level 1 - Quoted prices in active markets for identical assets or liabilities;
Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
Level 3 - Unobservable inputs in which little or no market activity exists, requiring an entity to develop its own assumptions that market participants would use to value the asset or liability.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

The following table presents certain assets which were measured at fair value on a recurring basis as of November 30, 2024 (in millions):
Fair Value Measurements
TotalQuoted prices in active markets
 for identical assets
(Level 1)		Significant
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets:
Short-term investments (1)$17.8 $6.3 $11.5 $— 
Non-current investments (2)114.6 7.3 107.3 — 
Derivative contracts (3)0.1 — 0.1 — 
Total$132.5 $13.6 $118.9 $— 
Liabilities:
Derivative contracts (3)$0.8 $— $0.8 $— 
Total$0.8 $— $0.8 $— 
(1) Primarily relates to Mutual Funds (Level 1) and Certificates of Deposit (Level 2). Included in Other current assets.
(2) Primarily relates to investments in Exchange-Traded Funds (Level 1) and certain equity investments, U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets.
(3) Primarily relates to energy derivative contracts. Included in Other assets and Other current liabilities.
The following table presents certain assets which were measured at fair value on a recurring basis as of February 24, 2024 (in millions):
 Fair Value Measurements
TotalQuoted prices in active markets
 for identical assets
(Level 1)		Significant
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets:
Short-term investments (1)$23.3 $5.3 $18.0 $— 
Non-current investments (2)107.3 6.4 100.9 — 
Derivative contracts (3)1.5 — 1.5 — 
Total$132.1 $11.7 $120.4 $— 
Liabilities:
Derivative contracts (3)$0.8 $— $0.8 $— 
Total$0.8 $— $0.8 $— 
(1) Primarily relates to Mutual Funds (Level 1) and Certificates of Deposit (Level 2). Included in Other current assets.
(2) Primarily relates to investments in Exchange-Traded Funds (Level 1) and certain equity investments, U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets.
(3) Primarily relates to energy derivative contracts. Included in Other assets or Other current liabilities.

The Company records cash and cash equivalents, restricted cash, accounts receivable and accounts payable at cost. The recorded values of these financial instruments approximate fair value based on their short-term nature.

The estimated fair value of the Company's debt, including current maturities, was based on Level 2 inputs, being market quotes or values for similar instruments, and interest rates currently available to the Company for the issuance of debt with similar terms and remaining maturities as a discount rate for the remaining principal payments. As of November 30, 2024, the fair value of total debt was $7,299.6 million compared to the carrying value of $7,467.4 million, excluding debt discounts and deferred financing costs. As of February 24, 2024, the fair value of total debt was $7,457.2 million compared to the carrying value of $7,684.2 million, excluding debt discounts and deferred financing costs.
Assets Measured at Fair Value on a Non-Recurring Basis

The Company measures certain assets at fair value on a non-recurring basis, including long-lived assets and goodwill, which are evaluated for impairment. Long-lived assets include store-related assets such as property and equipment, operating lease assets and certain intangible assets. The inputs used to determine the fair value of long-lived assets and a reporting unit are considered Level 3 measurements due to their subjective nature.

During the 12 weeks ended November 30, 2024, the Company recorded $6.0 million of retail store impairment losses. During the 40 weeks ended November 30, 2024, the Company recorded impairment losses of $39.8 million primarily related to equipment from the closing of our micro-fulfillment centers, and $19.5 million of retail store impairment losses. The impairment losses are included as a component of Loss on property dispositions and impairment losses, net.
v3.24.4
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS
 9 Months Ended
Nov. 30, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS
The Company's long-term debt and finance lease obligations as of November 30, 2024 and February 24, 2024, net of unamortized debt discounts of $29.7 million and $33.3 million, respectively, and deferred financing costs of $34.3 million and $42.7 million, respectively, consisted of the following (in millions):
November 30,
2024		February 24,
2024
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50%
$6,514.6 $6,506.4 
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70%
483.5 480.1 
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45%
375.8 375.4 
ABL Facility— 200.0 
Other financing obligations29.5 29.9 
Mortgage notes payable, secured— 16.4 
Finance lease obligations 435.0 460.4 
Total debt7,838.4 8,068.6 
Less current maturities(61.3)(285.2)
Long-term portion$7,777.1 $7,783.4 

ABL Facility

As of November 30, 2024, there were no amounts outstanding under the ABL Facility as the Company repaid $250.0 million and borrowed $50.0 million during the 40 weeks ended November 30, 2024, and letters of credit ("LOC") issued under the LOC sub-facility was $37.2 million. As of February 24, 2024, there was $200.0 million outstanding under the ABL Facility and LOC issued under the LOC sub-facility was $48.3 million.
v3.24.4
EMPLOYEE BENEFIT PLANS
 9 Months Ended
Nov. 30, 2024
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLANS EMPLOYEE BENEFIT PLANS
Pension and Other Post-Retirement Benefits

The following table provides the components of net pension and post-retirement expense (income) (in millions):
12 weeks ended
PensionOther post-retirement benefits
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Estimated return on plan assets$(20.9)$(22.8)$— $— 
Service cost3.8 4.0 — — 
Interest cost19.1 19.3 0.1 0.1 
Amortization of prior service cost0.1 0.1 — — 
Amortization of net actuarial gain(1.0)(1.2)(0.1)(0.3)
Expense (income), net$1.1 $(0.6)$— $(0.2)

40 weeks ended
PensionOther post-retirement benefits
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Estimated return on plan assets$(70.1)$(75.8)$— $— 
Service cost12.8 13.3 — — 
Interest cost64.3 64.3 0.4 0.4 
Amortization of prior service cost0.3 0.3 — — 
Amortization of net actuarial gain(3.0)(4.2)(0.5)(0.8)
Settlement loss4.7 — — — 
Expense (income), net$9.0 $(2.1)$(0.1)$(0.4)

The Company contributed $42.5 million and $79.6 million to its defined pension plans and post-retirement benefit plans during the 12 and 40 weeks ended November 30, 2024, respectively. For the 12 and 40 weeks ended December 2, 2023, the Company contributed $4.1 million and $14.5 million, respectively. At the Company's discretion, additional funds may be contributed to the defined benefit pension plans that are determined to be beneficial to the Company. The Company currently anticipates contributing an additional $11.9 million to these plans for the remainder of fiscal 2024.
v3.24.4
COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS
 9 Months Ended
Nov. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS
Guarantees

Lease Guarantees: The Company may have liability under certain operating leases that were assigned to third parties. If any of these third parties fail to perform their obligations under the leases, the Company could be responsible for the lease obligation. Because of the wide dispersion among third parties and the variety of remedies available, the Company believes that if an assignee became insolvent, it would not have a material effect on the Company's financial condition, results of operations or cash flows.

The Company also provides guarantees, indemnifications and assurances to others in the ordinary course of its business.
Legal Proceedings

The Company is subject from time to time to various claims and lawsuits, including matters involving trade, business and operational practices, personnel and employment issues, lawsuits alleging violations of state and/or federal wage and hour laws, real estate disputes, personal injury, antitrust claims, packaging or product claims, claims related to the sale of drug or pharmacy products, such as opioids, intellectual property claims and other proceedings arising in or outside of the ordinary course of business. Some of these claims or suits purport or may be determined to be class actions and/or seek substantial damages. It is the opinion of the Company's management that although the amount of liability with respect to certain of the matters described herein cannot be ascertained at this time, any resulting liability of these and other matters, including any punitive damages, will not have a material adverse effect on the Company's business or overall financial condition.

The Company continually evaluates its exposure to loss contingencies arising from pending or threatened litigation and believes it has made provisions where the loss contingency is probable and can be reasonably estimated. Nonetheless, assessing and predicting the outcomes of these matters involves substantial uncertainties. While management currently believes that the aggregate estimated liabilities currently recorded are reasonable, it remains possible that differences in actual outcomes or changes in management's evaluation or predictions could arise that could be material to the Company's results of operations or cash flows.

False Claims Act: Two qui tam actions alleging violations of the False Claims Act ("FCA") have been filed against the Company and its subsidiaries. Violations of the FCA are subject to treble damages and penalties of up to a specified dollar amount per false claim.

In United States ex rel. Proctor v. Safeway, filed in the United States District Court for the Central District of Illinois, the relator alleges that Safeway overcharged federal government healthcare programs by not providing the federal government, as part of its usual and customary prices, the benefit of discounts given to customers in pharmacy membership discount and price-matching programs. The relator filed his complaint under seal on November 11, 2011, and the complaint was unsealed on August 26, 2015. The relator amended the complaint on March 31, 2016. On June 12, 2020, the District Court granted Safeway's motion for summary judgment, holding that the relator could not prove that Safeway acted with the intent required under the FCA, and judgment was issued on June 15, 2020. On July 10, 2020, the relator filed a motion to alter or amend the judgment and to supplement the record, which Safeway opposed. On November 13, 2020, the District Court denied relator's motion, and on December 11, 2020, relator filed a notice of appeal. The Seventh Circuit Court of Appeals affirmed the judgment in the Company's favor on April 5, 2022. On August 3, 2022, relators filed a petition seeking review by the U.S. Supreme Court.

In United States ex rel. Schutte and Yarberry v. SuperValu, New Albertson's, Inc., et al., also filed in the Central District of Illinois, the relators allege that defendants (including various subsidiaries of the Company) overcharged federal government healthcare programs by not providing the federal government, as a part of usual and customary prices, the benefit of discounts given to customers who requested that defendants match competitor prices. The complaint was originally filed under seal and amended on November 30, 2015. On August 5, 2019, the District Court granted relators' motion for partial summary judgment, holding that price-matched prices are the usual and customary prices for those drugs. On July 1, 2020, the District Court granted the defendants' motions for summary judgment and dismissed the case, holding that the relator could not prove that defendants acted with the intent required under the FCA. Judgment was issued on July 2, 2020. On July 9, 2020, the relators filed a notice of appeal. On August 12, 2021, the Court of Appeals for the Seventh Circuit affirmed the grant of summary judgment in the Company's favor. On September 23, 2021, the relators filed a petition for rehearing en banc with the Seventh Circuit. On December 3, 2021, the Seventh Circuit denied relators' petition. On April 1, 2022, relators filed a petition seeking review by the U.S. Supreme Court.
The U.S. Supreme Court decided to hear the appeals filed by the relators in Proctor and Schutte. The Supreme Court consolidated the two cases for the purpose of hearing the appeal. The Supreme Court heard oral arguments on April 18, 2023. On June 1, 2023, the Supreme Court issued an opinion adverse to the Company that reversed the lower court's rulings. On July 3, 2023, the Supreme Court issued the order remanding both cases back to the Court of Appeals for the Seventh Circuit for further review. On July 27, 2023, the Court of Appeals remanded both cases back to the U.S. District Court for the Central District of Illinois. On August 22, 2023, the District Court - as to Schutte - set a pretrial conference for March 4, 2024, and a trial date of April 29, 2024. At the same July 27 hearing, the District Court also gave the defendants leave to file motions for summary judgment on a schedule to be agreed upon. On October 11, 2023, the Company and co-defendant filed a motion for summary judgment. On the same day, the relators filed motions for partial summary judgment. On February 16, 2024, the Company and co-defendant filed a motion to reconsider a prior grant of partial summary judgment against the defendants, and also a motion to continue the trial. On February 27, 2024, the District Court granted the motion to continue and vacated the April 29, 2024 trial date. On April 26, 2024, the District Court denied the motion for reconsideration of partial summary judgment. On May 20, 2024, the District Court heard oral argument on the pending motions for summary judgment. On September 30, 2024, the District Court denied both parties' motions for summary judgment on scienter and granted relators' motion for summary judgment on materiality. On November 18, 2024, the District Court denied a motion by the Company to reconsider the materiality ruling or certify that ruling for interlocutory appeal. The District Court has now set trial to begin in Schutte on February 10, 2025. The District Court has not set any trial date for Proctor as of yet, and no motions are pending in that case.

In both of the above cases, the federal government previously investigated the relators' allegations and declined to intervene. The relators elected to pursue their respective cases on their own and in each case have alleged FCA damages in excess of $100 million before trebling and excluding penalties. The Company is vigorously defending each of these matters. The Company has recorded an estimated liability for these matters.

Pharmacy Benefit Manager (PBM) Litigation: The Company (including its subsidiary, Safeway Inc.) is a defendant in a lawsuit filed on January 21, 2021, in Minnesota state court, captioned Health Care Service Corp. et al. v. Albertsons Companies, LLC, et al. The action challenges certain prescription-drug prices reported by the Company to a pharmacy benefit manager, Prime Therapeutics LLC ("Prime"), which in turn contracted with the health-insurer plaintiffs to adjudicate and process prescription-drug reimbursement claims.

On December 7, 2021, the Company filed a motion to dismiss the complaint. On January 14, 2022, the court denied the Company's motion to dismiss as to all but one count, plaintiffs' claim of negligent misrepresentation. On January 21, 2022, the Company and co-defendant SUPERVALU, Inc. ("SUPERVALU") filed a third-party complaint against Prime, asserting various claims, including: indemnification, fraud and unjust enrichment. On February 17, 2022, the Company filed in the Minnesota Court of Appeals an interlocutory appeal of the denial of their motion to dismiss on personal jurisdiction grounds (the "Jurisdictional Appeal"). On February 24, 2022, the Company and SUPERVALU filed in the trial court an unopposed motion to stay proceedings, pending the resolution of the Jurisdictional Appeal. The parties agreed on March 6, 2022, to an interim stay in the trial court pending a ruling on the unopposed motion to stay proceedings. On September 6, 2022, the Minnesota Court of Appeals denied the Jurisdictional Appeal and affirmed the trial court’s denial of the Company’s motion to dismiss. On October 6, 2022, the Company and SUPERVALU filed a petition seeking review by the Minnesota Supreme Court. On November 23, 2022, the Minnesota Supreme Court denied that petition. The Company and co-defendant SUPERVALU filed an answer to the complaint on January 23, 2023. On March 9, 2023, Prime moved to dismiss the third-party complaint filed by the Company and SUPERVALU. The court heard oral arguments on the motion on May 11, 2023. On August 9, 2023, the court denied Prime's motion as to 16 of the 17 counts in the third-party complaint, and dismissed one count without prejudice. On September 18, 2023, the Company and SUPERVALU filed an amended third-party complaint, which repleaded the one count that had been dismissed (in addition to the other claims asserted in the initial third-party complaint). On October 2, 2023, Prime filed an answer to the amended third-party
complaint. The parties are presently engaged in discovery. The case is currently scheduled to be ready for trial on or after March 9, 2026.

The Company is vigorously defending the claims filed against it, and the Company also intends to prosecute its claims against Prime with equal vigor. The Company has recorded an estimated liability for this matter.

Opioid Litigation: The Company is one of dozens of companies that have been named as defendants in lawsuits filed by various plaintiffs, including states, counties, cities, Native American tribes, and hospitals, alleging that defendants contributed to the national opioid epidemic. At present, the Company is named in approximately 83 suits pending in various state and federal courts including the United States District Court for the Northern District of Ohio, where over 2,000 cases against various defendants have been consolidated as Multi-District Litigation ("MDL") pursuant to 28 U.S.C. §1407. All of the MDL cases naming the Company have been stayed except for three so called "bellwether" actions in Tarrant County (Texas), Town of Hull (Massachusetts) and Monterey County (California). In the Tarrant County bellwether, the Company's motion for summary judgment is pending before the Court. Town of Hull (Massachusetts) was dismissed without prejudice on November 25, 2024. Discovery in Monterey County (California) is in its initial stages. The relief sought by the various plaintiffs in these matters includes compensatory damages, abatement and punitive damages as well as injunctive relief. On July 30, 2024, multiple plaintiffs filed an Omnibus Motion for Leave to Amend complaints, seeking leave from the MDL court to add the Company to over 150 of additional lawsuits. The Company's response to the Omnibus Motion is due January 16, 2025.

Prior to the start of a state-court trial that was scheduled for September 6, 2022, the Company reached an agreement to settle with the State of New Mexico. The New Mexico counties and municipal entities that filed 14 additional lawsuits, including Santa Fe County, agreed to the terms of the settlement. Thus, all 15 cases filed by New Mexico entities have been dismissed as a result of the settlement. The Company executed an agreement to settle three matters pending in Nevada state court. The Company recorded a liability of $21.5 million for the settlements of the cases in New Mexico and Nevada which was paid by our insurers in the fourth quarter of fiscal 2022. With respect to the remaining pending state court claims, three claims are currently proceeding through discovery, with trial dates scheduled in 2025. Those matters are pending in Dallas County (Texas), the State of Washington and the City of Philadelphia (Pennsylvania). The Company believes that it has substantial factual and legal defenses to these claims, and is vigorously defending these matters. At this stage in the proceedings, the Company is unable to determine the probability of the outcome of these remaining matters or the range of reasonably possible loss.

The Company has also received, subpoenas, Civil Investigative Demands and other requests for documents and information from the U.S. Department of Justice ("DOJ") and certain state Attorneys General, and has had preliminary discussions with the DOJ with respect to purported violations of the federal Controlled Substances Act and the FCA in dispensing prescriptions. The Company has been cooperating with the government with respect to these requests for information.

Other Commitments
In the ordinary course of business, the Company enters into various supply contracts for goods and contracts for fixed assets and information technology. These contracts typically include volume commitments or fixed expiration dates, termination provisions and other standard contractual considerations.
v3.24.4
OTHER COMPREHENSIVE INCOME OR LOSS
 9 Months Ended
Nov. 30, 2024
Equity [Abstract]  
OTHER COMPREHENSIVE INCOME OR LOSS OTHER COMPREHENSIVE INCOME OR LOSS
Total comprehensive earnings are defined as all changes in stockholders' equity during a period, other than those from investments by or distributions to the stockholders. Generally, for the Company, total comprehensive income
equals net income plus or minus adjustments for pension and other post-retirement liabilities. Total comprehensive earnings represent the activity for a period, net of tax.

While total comprehensive earnings are the activity in a period and are largely driven by net earnings in that period, accumulated other comprehensive income or loss ("AOCI") represents the cumulative balance of other comprehensive income, net of tax, as of the balance sheet date. Changes in the AOCI balance by component are shown below (in millions):
40 weeks ended November 30, 2024
TotalPension and Post-retirement benefit plansOther
Beginning AOCI balance$88.0 $87.5 $0.5 
Other comprehensive income before reclassifications2.4 — 2.4 
Amounts reclassified from accumulated other comprehensive income (1)1.5 1.5 — 
Tax expense(1.0)(0.4)(0.6)
Current-period other comprehensive income, net of tax2.9 1.1 1.8 
Ending AOCI balance$90.9 $88.6 $2.3 

40 weeks ended December 2, 2023
TotalPension and Post-retirement benefit plansOther
Beginning AOCI balance$69.3 $71.7 $(2.4)
Other comprehensive income before reclassifications3.9 — 3.9 
Amounts reclassified from accumulated other comprehensive income (1)(4.7)(4.7)— 
Tax benefit (expense) 0.2 1.2 (1.0)
Current-period other comprehensive (loss) income, net of tax(0.6)(3.5)2.9 
Ending AOCI balance$68.7 $68.2 $0.5 
(1) These amounts are included in the computation of net pension and post-retirement expense (income). For additional information, see Note 5 - Employee Benefit Plans.
v3.24.4
NET INCOME PER CLASS A COMMON SHARE
 9 Months Ended
Nov. 30, 2024
Earnings Per Share [Abstract]  
NET INCOME PER CLASS A COMMON SHARE NET INCOME PER CLASS A COMMON SHARE
The Company calculates basic and diluted net income per Class A common share using the two-class method. The two-class method is an allocation formula that determines net income per Class A common share for each share of Class A common stock and Convertible Preferred Stock, a participating security, according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings (distributed and undistributed) are allocated to Class A common shares and Convertible Preferred Stock based on their respective rights to receive dividends. The holders of Convertible Preferred Stock participate in cash dividends that the Company pays on its common stock to the extent that such cash dividends exceed $206.25 million per fiscal year and shares of Convertible Preferred Stock remain outstanding as of the applicable record date to participate in such dividends. As of June 17, 2023, 100% of the originally issued Convertible Preferred Stock had been converted into Class A common stock and no shares of Convertible Preferred Stock are outstanding. In applying the two-class method to interim periods, the Company allocates income to its quarterly periods independently and discretely from its year-to-date and annual periods. Basic net income per Class A common share is computed by dividing net income allocated to Class A common stockholders by the weighted average number of Class A common shares outstanding for the period, including Class A common shares to be issued with no prior remaining contingencies prior to
issuance. Diluted net income per Class A common share is computed based on the weighted average number of shares of Class A common stock outstanding during each period, plus potential Class A common shares considered outstanding during the period, as long as the inclusion of such awards is not antidilutive. Potential Class A common shares consist of unvested restricted stock units ("RSUs"), restricted common stock ("RSAs") and Convertible Preferred Stock, using the more dilutive of either the two-class method or as-converted stock method. Performance-based RSUs are considered dilutive when the related performance criterion has been met.

The components of basic and diluted net income per Class A common share were as follows (in millions, except per share data):
12 weeks ended40 weeks ended
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Basic net income per Class A common share
Net income$400.6 $361.4 $786.8 $1,045.5 
Accrued dividends on Convertible Preferred Stock— — — (0.3)
Earnings allocated to Convertible Preferred Stock— — — (0.7)
Net income allocated to Class A common stockholders - Basic$400.6 $361.4 $786.8 $1,044.5 
Weighted average Class A common shares outstanding - Basic (1)580.2 576.2 579.7 575.2 
Basic net income per Class A common share$0.69 $0.63 $1.36 $1.82 
Diluted net income per Class A common share
Net income allocated to Class A common stockholders - Basic$400.6 $361.4 $786.8 $1,044.5 
Accrued dividends on Convertible Preferred Stock— — — — 
Earnings allocated to Convertible Preferred Stock— — — — 
Net income allocated to Class A common stockholders - Diluted$400.6 $361.4 $786.8 $1,044.5 
Weighted average Class A common shares outstanding - Basic (1)580.2 576.2 579.7 575.2 
Dilutive effect of:
Restricted stock units and awards3.9 4.9 3.2 5.3 
Convertible Preferred Stock (2)— — — — 
Weighted average Class A common shares outstanding - Diluted (3)584.1 581.1 582.9 580.5 
Diluted net income per Class A common share$0.69 $0.62 $1.35 $1.80 
(1) The number of Class A common shares remaining to be issued for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023 were not material.
(2) Reflects the number of shares of Convertible Preferred Stock issued, if converted into common stock for the period outstanding. For the 40 weeks ended December 2, 2023, 0.4 million potential common shares outstanding related to Convertible Preferred Stock were antidilutive.
(3) The number of potential Class A common shares outstanding related to RSUs and RSAs that were antidilutive for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023 were not material.
v3.24.4
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 4 Months Ended 9 Months Ended
Nov. 30, 2024
Sep. 07, 2024
Dec. 02, 2023
Sep. 09, 2023
Jun. 15, 2024
Jun. 17, 2023
Nov. 30, 2024
Dec. 02, 2023
Pay vs Performance Disclosure                
Net income $ 400.6 $ 145.5 $ 361.4 $ 266.9 $ 240.7 $ 417.2 $ 786.8 $ 1,045.5
v3.24.4
Insider Trading Arrangements
 3 Months Ended
Nov. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 9 Months Ended
Nov. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying interim Condensed Consolidated Financial Statements include the accounts of Albertsons Companies, Inc. and its subsidiaries (the "Company"). All significant intercompany balances and transactions were eliminated. The Condensed Consolidated Balance Sheet as of February 24, 2024 is derived from the Company's annual audited Consolidated Financial Statements, which should be read in conjunction with these Condensed Consolidated Financial Statements and which are included in the Company's Annual Report on Form 10-K for the fiscal year ended February 24, 2024, filed with the Securities and Exchange Commission (the "SEC") on April 22, 2024. Certain information in footnote disclosures normally included in annual financial statements was condensed or omitted for the interim periods presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, the interim data includes all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of the results for the interim periods. The interim results of operations and cash flows are not necessarily indicative of those results and cash flows expected for the year. The Company's results of operations are for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023.
Restricted cash Restricted cash: Restricted cash is included in Other current assets or Other assets depending on the remaining term of the restriction and primarily relates to surety bonds.
Inventories, net Inventories, net: Substantially all of the Company's inventories consist of finished goods valued at the lower of cost or market and net of vendor allowances. The Company primarily uses the retail inventory or cost method to determine inventory cost before application of any last-in, first-out ("LIFO") adjustment. Interim LIFO inventory costs are based on management's estimates of expected year-end inventory levels and inflation rates.
Equity method investments Equity method investments: The Company's equity method investments previously included an equity interest in Mexico Foods Parent LLC and La Fabrica Parent LLC ("El Rancho"), a Texas-based specialty grocer.
Segments
Segments: The Company and its subsidiaries offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel and other items and services in its stores or through digital channels. The Company's operating divisions are geographically based, have similar economic characteristics and similar expected long-term financial performance. The Company's operating segments and reporting units are its 12 operating divisions, which are reported in one reportable segment. Each reporting unit constitutes a business for which discrete financial information is available and for which management regularly reviews the operating results. Across all operating segments, the Company operates primarily one store format. Each division offers through its stores and digital channels the same general mix of products with similar pricing to similar categories of customers, has similar distribution methods, operates in similar regulatory environments and purchases merchandise from similar or the same vendors.
Revenue recognition Revenue recognition: Revenues from the retail sale of products are recognized at the point of sale or delivery to the customer, net of returns and sales tax. Pharmacy sales are recorded upon the customer receiving the prescription.For digital related sales, which primarily include home delivery and Drive Up & Go curbside pickup, revenues are recognized upon either pickup in store or delivery to the customer and may include revenue for separately charged delivery services. The Company records a contract liability when rewards are earned by customers in connection with the Company's loyalty programs. As rewards are redeemed or expire, the Company reduces the contract liability and recognizes revenue. The contract liability balance was immaterial as of November 30, 2024 and February 24, 2024.The Company records a contract liability when it sells its own proprietary gift cards. The Company records a sale when the customer redeems the gift card. The Company's gift cards do not expire. The Company reduces the contract liability and records revenue for the unused portion of gift cards in proportion to its customers' pattern of redemption, which the Company determined to be the historical redemption rate.
Recently issued accounting standards
Recently issued accounting standards: In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." The ASU enhances the transparency and decision usefulness of income tax disclosures and is effective for annual periods beginning after December 15, 2024 on a prospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." The ASU requires disclosures about specific types of expenses, including purchases of inventory, employee compensation, depreciation and amortization. The amendments in this ASU are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its Consolidated Financial Statements and related disclosures.
Fair Value Measurements FAIR VALUE MEASUREMENTS
The accounting guidance for fair value established a framework for measuring fair value and established a three-level valuation hierarchy for disclosure of fair value measurement. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability at the measurement date. The three levels are defined as follows:
Level 1 - Quoted prices in active markets for identical assets or liabilities;
Level 2 - Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; and
Level 3 - Unobservable inputs in which little or no market activity exists, requiring an entity to develop its own assumptions that market participants would use to value the asset or liability.

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
v3.24.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Nov. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Sales Revenue by Type of Similar Products
The following table represents Net sales and other revenue by product type (dollars in millions):
12 weeks ended40 weeks ended
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Amount (1)% of TotalAmount (1)% of TotalAmount (1)% of TotalAmount (1)% of Total
Non-perishables (2)$9,299.9 49.5 %$9,242.8 49.8 %$30,618.9 49.7 %$30,566.5 50.2 %
Fresh (3)5,735.2 30.5 5,709.0 30.8 19,557.5 31.8 19,517.7 32.0 
Pharmacy2,581.9 13.8 2,282.8 12.3 7,336.7 11.9 6,323.9 10.4 
Fuel885.2 4.7 1,046.7 5.6 3,157.4 5.1 3,573.9 5.9 
Other (4)272.3 1.5 276.0 1.5 920.9 1.5 916.2 1.5 
Net sales and other revenue$18,774.5 100.0 %$18,557.3 100.0 %$61,591.4 100.0 %$60,898.2 100.0 %
(1) Digital related sales are included in the categories to which the revenue pertains.
(2) Consists primarily of general merchandise, grocery, dairy and frozen foods.
(3) Consists primarily of produce, meat, deli and prepared foods, bakery, floral and seafood.
(4) Consists primarily of wholesale revenue to third parties, commissions, rental income and other miscellaneous revenue.
v3.24.4
FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Nov. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents certain assets which were measured at fair value on a recurring basis as of November 30, 2024 (in millions):
Fair Value Measurements
TotalQuoted prices in active markets
 for identical assets
(Level 1)		Significant
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets:
Short-term investments (1)$17.8 $6.3 $11.5 $— 
Non-current investments (2)114.6 7.3 107.3 — 
Derivative contracts (3)0.1 — 0.1 — 
Total$132.5 $13.6 $118.9 $— 
Liabilities:
Derivative contracts (3)$0.8 $— $0.8 $— 
Total$0.8 $— $0.8 $— 
(1) Primarily relates to Mutual Funds (Level 1) and Certificates of Deposit (Level 2). Included in Other current assets.
(2) Primarily relates to investments in Exchange-Traded Funds (Level 1) and certain equity investments, U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets.
(3) Primarily relates to energy derivative contracts. Included in Other assets and Other current liabilities.
The following table presents certain assets which were measured at fair value on a recurring basis as of February 24, 2024 (in millions):
 Fair Value Measurements
TotalQuoted prices in active markets
 for identical assets
(Level 1)		Significant
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets:
Short-term investments (1)$23.3 $5.3 $18.0 $— 
Non-current investments (2)107.3 6.4 100.9 — 
Derivative contracts (3)1.5 — 1.5 — 
Total$132.1 $11.7 $120.4 $— 
Liabilities:
Derivative contracts (3)$0.8 $— $0.8 $— 
Total$0.8 $— $0.8 $— 
(1) Primarily relates to Mutual Funds (Level 1) and Certificates of Deposit (Level 2). Included in Other current assets.
(2) Primarily relates to investments in Exchange-Traded Funds (Level 1) and certain equity investments, U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets.
(3) Primarily relates to energy derivative contracts. Included in Other assets or Other current liabilities.
v3.24.4
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS (Tables)
 9 Months Ended
Nov. 30, 2024
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
The Company's long-term debt and finance lease obligations as of November 30, 2024 and February 24, 2024, net of unamortized debt discounts of $29.7 million and $33.3 million, respectively, and deferred financing costs of $34.3 million and $42.7 million, respectively, consisted of the following (in millions):
November 30,
2024		February 24,
2024
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50%
$6,514.6 $6,506.4 
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70%
483.5 480.1 
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45%
375.8 375.4 
ABL Facility— 200.0 
Other financing obligations29.5 29.9 
Mortgage notes payable, secured— 16.4 
Finance lease obligations 435.0 460.4 
Total debt7,838.4 8,068.6 
Less current maturities(61.3)(285.2)
Long-term portion$7,777.1 $7,783.4 
v3.24.4
EMPLOYEE BENEFIT PLANS (Tables)
 9 Months Ended
Nov. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Components of Net Pension and Post-retirement Expense
The following table provides the components of net pension and post-retirement expense (income) (in millions):
12 weeks ended
PensionOther post-retirement benefits
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Estimated return on plan assets$(20.9)$(22.8)$— $— 
Service cost3.8 4.0 — — 
Interest cost19.1 19.3 0.1 0.1 
Amortization of prior service cost0.1 0.1 — — 
Amortization of net actuarial gain(1.0)(1.2)(0.1)(0.3)
Expense (income), net$1.1 $(0.6)$— $(0.2)

40 weeks ended
PensionOther post-retirement benefits
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Estimated return on plan assets$(70.1)$(75.8)$— $— 
Service cost12.8 13.3 — — 
Interest cost64.3 64.3 0.4 0.4 
Amortization of prior service cost0.3 0.3 — — 
Amortization of net actuarial gain(3.0)(4.2)(0.5)(0.8)
Settlement loss4.7 — — — 
Expense (income), net$9.0 $(2.1)$(0.1)$(0.4)
v3.24.4
OTHER COMPREHENSIVE INCOME OR LOSS (Tables)
 9 Months Ended
Nov. 30, 2024
Equity [Abstract]  
Schedule of Changes In the Accumulated Other Comprehensive Income or Loss Changes in the AOCI balance by component are shown below (in millions):
40 weeks ended November 30, 2024
TotalPension and Post-retirement benefit plansOther
Beginning AOCI balance$88.0 $87.5 $0.5 
Other comprehensive income before reclassifications2.4 — 2.4 
Amounts reclassified from accumulated other comprehensive income (1)1.5 1.5 — 
Tax expense(1.0)(0.4)(0.6)
Current-period other comprehensive income, net of tax2.9 1.1 1.8 
Ending AOCI balance$90.9 $88.6 $2.3 

40 weeks ended December 2, 2023
TotalPension and Post-retirement benefit plansOther
Beginning AOCI balance$69.3 $71.7 $(2.4)
Other comprehensive income before reclassifications3.9 — 3.9 
Amounts reclassified from accumulated other comprehensive income (1)(4.7)(4.7)— 
Tax benefit (expense) 0.2 1.2 (1.0)
Current-period other comprehensive (loss) income, net of tax(0.6)(3.5)2.9 
Ending AOCI balance$68.7 $68.2 $0.5 
(1) These amounts are included in the computation of net pension and post-retirement expense (income). For additional information, see Note 5 - Employee Benefit Plans.
v3.24.4
NET INCOME PER CLASS A COMMON SHARE (Tables)
 9 Months Ended
Nov. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Loss Per Share
The components of basic and diluted net income per Class A common share were as follows (in millions, except per share data):
12 weeks ended40 weeks ended
November 30,
2024		December 2,
2023		November 30,
2024		December 2,
2023
Basic net income per Class A common share
Net income$400.6 $361.4 $786.8 $1,045.5 
Accrued dividends on Convertible Preferred Stock— — — (0.3)
Earnings allocated to Convertible Preferred Stock— — — (0.7)
Net income allocated to Class A common stockholders - Basic$400.6 $361.4 $786.8 $1,044.5 
Weighted average Class A common shares outstanding - Basic (1)580.2 576.2 579.7 575.2 
Basic net income per Class A common share$0.69 $0.63 $1.36 $1.82 
Diluted net income per Class A common share
Net income allocated to Class A common stockholders - Basic$400.6 $361.4 $786.8 $1,044.5 
Accrued dividends on Convertible Preferred Stock— — — — 
Earnings allocated to Convertible Preferred Stock— — — — 
Net income allocated to Class A common stockholders - Diluted$400.6 $361.4 $786.8 $1,044.5 
Weighted average Class A common shares outstanding - Basic (1)580.2 576.2 579.7 575.2 
Dilutive effect of:
Restricted stock units and awards3.9 4.9 3.2 5.3 
Convertible Preferred Stock (2)— — — — 
Weighted average Class A common shares outstanding - Diluted (3)584.1 581.1 582.9 580.5 
Diluted net income per Class A common share$0.69 $0.62 $1.35 $1.80 
(1) The number of Class A common shares remaining to be issued for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023 were not material.
(2) Reflects the number of shares of Convertible Preferred Stock issued, if converted into common stock for the period outstanding. For the 40 weeks ended December 2, 2023, 0.4 million potential common shares outstanding related to Convertible Preferred Stock were antidilutive.
(3) The number of potential Class A common shares outstanding related to RSUs and RSAs that were antidilutive for the 12 and 40 weeks ended November 30, 2024 and December 2, 2023 were not material.
v3.24.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 4 Months Ended 9 Months Ended
Nov. 30, 2024
USD ($)
format
$ / shares
shares
Dec. 02, 2023
USD ($)
Jun. 17, 2023
USD ($)
Nov. 30, 2024
USD ($)
division
segment
format
$ / shares
shares
Dec. 02, 2023
USD ($)
Feb. 24, 2024
USD ($)
$ / shares
shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Restricted cash $ 4.2     $ 4.2   $ 4.5
LIFO expense 3.5 $ 27.6   22.9 $ 87.8  
Income tax expense 14.5 $ 95.1   124.7 $ 228.7  
Discrete state income tax benefits related to settlement of audits $ 81.0     $ 81.0    
Effective tax rate 3.50% 20.80%   13.70% 17.90%  
Reduction of reserve     $ 49.7      
Number of divisions | division       12    
Number of reportable segments | segment       1    
Number of store format | format 1     1    
Receivables, net $ 929.0     $ 929.0   724.4
Contract liability related to gift cards 119.3     119.3   111.4
Pharmacy            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Receivables, net $ 545.3     $ 545.3   $ 376.1
Class A-1 convertible common stock            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Common stock, shares authorized (in shares) | shares 150,000,000     150,000,000   150,000,000
Common stock, par value (in dollars per share) | $ / shares $ 0.01     $ 0.01   $ 0.01
Common stock shares issued (in shares) | shares 0     0   0
Convertible Preferred Stock            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Preferred stock, shares authorized (in shares) | shares 100,000,000     100,000,000   100,000,000
Preferred stock, par value (in dollars per share) | $ / shares $ 0.01     $ 0.01   $ 0.01
Series A Convertible Preferred Stock            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Preferred stock, shares authorized (in shares) | shares 1,750,000     1,750,000   1,750,000
Series A-1 Convertible Preferred Stock            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Preferred stock, shares authorized (in shares) | shares 1,410,000     1,410,000   1,410,000
Undesignated preferred stock            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Preferred stock, shares issued (in shares) | shares 0     0   0
EI Rancho            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Proceeds from sale of equity method investments     166.1      
Income from equity method investments     $ 10.5      
EI Rancho            
New Accounting Pronouncements or Change in Accounting Principle [Line Items]            
Ownership interest percentage     45.00%      
v3.24.4
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Sales Revenue by Similar Products (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Nov. 30, 2024
Dec. 02, 2023
Concentration Risk [Line Items]        
Net sales and other revenue $ 18,774.5 $ 18,557.3 $ 61,591.4 $ 60,898.2
Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 18,774.5 $ 18,557.3 $ 61,591.4 $ 60,898.2
Percentage of total net sales and other revenue 100.00% 100.00% 100.00% 100.00%
Non-perishables | Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 9,299.9 $ 9,242.8 $ 30,618.9 $ 30,566.5
Percentage of total net sales and other revenue 49.50% 49.80% 49.70% 50.20%
Fresh | Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 5,735.2 $ 5,709.0 $ 19,557.5 $ 19,517.7
Percentage of total net sales and other revenue 30.50% 30.80% 31.80% 32.00%
Pharmacy | Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 2,581.9 $ 2,282.8 $ 7,336.7 $ 6,323.9
Percentage of total net sales and other revenue 13.80% 12.30% 11.90% 10.40%
Fuel | Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 885.2 $ 1,046.7 $ 3,157.4 $ 3,573.9
Percentage of total net sales and other revenue 4.70% 5.60% 5.10% 5.90%
Other | Product Line | Product Concentration Risk        
Concentration Risk [Line Items]        
Net sales and other revenue $ 272.3 $ 276.0 $ 920.9 $ 916.2
Percentage of total net sales and other revenue 1.50% 1.50% 1.50% 1.50%
v3.24.4
TERMINATION OF THE MERGER AGREEMENT (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended 4 Months Ended
Jan. 20, 2023
Nov. 30, 2024
Sep. 07, 2024
Dec. 02, 2023
Sep. 09, 2023
Jun. 15, 2024
Jun. 17, 2023
Oct. 13, 2022
Business Acquisition [Line Items]                
Dividends declared (in dollars per share)   $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ 0.12 $ 0.12  
Merger Agreement                
Business Acquisition [Line Items]                
Conversion price, right to receive (in dollars per share)               $ 34.10
Termination fee obligation               $ 600
Merger Agreement | Class A Common Stock                
Business Acquisition [Line Items]                
Dividends declared (in dollars per share) $ 6.85              
Adjusted per share cash purchase price (in dollars per share)               $ 27.25
v3.24.4
FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Feb. 24, 2024
Liabilities:    
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other current liabilities Other current liabilities
Recurring    
Assets:    
Short-term investments $ 17.8 $ 23.3
Non-current investments 114.6 107.3
Derivative contracts 0.1 1.5
Total 132.5 132.1
Liabilities:    
Derivative Liability 0.8 0.8
Total 0.8 0.8
Recurring | Quoted prices in active markets for identical assets (Level 1)    
Assets:    
Short-term investments 6.3 5.3
Non-current investments 7.3 6.4
Derivative contracts 0.0 0.0
Total 13.6 11.7
Liabilities:    
Derivative Liability 0.0 0.0
Total 0.0 0.0
Recurring | Significant observable inputs (Level 2)    
Assets:    
Short-term investments 11.5 18.0
Non-current investments 107.3 100.9
Derivative contracts 0.1 1.5
Total 118.9 120.4
Liabilities:    
Derivative Liability 0.8 0.8
Total 0.8 0.8
Recurring | Significant unobservable inputs (Level 3)    
Assets:    
Short-term investments 0.0 0.0
Non-current investments 0.0 0.0
Derivative contracts 0.0 0.0
Total 0.0 0.0
Liabilities:    
Derivative Liability 0.0 0.0
Total $ 0.0 $ 0.0
v3.24.4
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Nov. 30, 2024
Feb. 24, 2024
Micro-Fulfillment Centers      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Impairment loss   $ 39.8  
Retail Stores      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Impairment loss $ 6.0 19.5  
Fair Value      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Total debt amount 7,299.6 7,299.6 $ 7,457.2
Carrying Value      
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]      
Total debt amount $ 7,467.4 $ 7,467.4 $ 7,684.2
v3.24.4
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Narrative (Details) - USD ($)
$ in Millions
 9 Months Ended
Nov. 30, 2024
Feb. 24, 2024
Debt Instrument [Line Items]    
Unamortized debt discounts $ 29.7 $ 33.3
Deferred financing costs 34.3 42.7
ABL Facility | Line of Credit    
Debt Instrument [Line Items]    
Outstanding balance on line of credit 0.0 200.0
Repayments of lines of credit 250.0  
Proceeds from lines of credit 50.0  
Outstanding balance on letters of credit $ 37.2 $ 48.3
v3.24.4
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Schedule of Long-term Debt (Details) - USD ($)
$ in Millions
Nov. 30, 2024
Feb. 24, 2024
Debt Instrument [Line Items]    
Finance lease obligations $ 435.0 $ 460.4
Total debt 7,838.4 8,068.6
Less current maturities (61.3) (285.2)
Long-term portion 7,777.1 7,783.4
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50% | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt, gross $ 6,514.6 6,506.4
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50% | Senior Notes | Minimum    
Debt Instrument [Line Items]    
Stated interest rate percentage 3.25%  
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50% | Senior Notes | Maximum    
Debt Instrument [Line Items]    
Stated interest rate percentage 7.50%  
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% | Notes Payable    
Debt Instrument [Line Items]    
Long-term debt, gross $ 483.5 480.1
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% | Notes Payable | Minimum    
Debt Instrument [Line Items]    
Stated interest rate percentage 6.52%  
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% | Notes Payable | Maximum    
Debt Instrument [Line Items]    
Stated interest rate percentage 8.70%  
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% | Notes Payable    
Debt Instrument [Line Items]    
Long-term debt, gross $ 375.8 375.4
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% | Notes Payable | Minimum    
Debt Instrument [Line Items]    
Stated interest rate percentage 7.25%  
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% | Notes Payable | Maximum    
Debt Instrument [Line Items]    
Stated interest rate percentage 7.45%  
ABL Facility | Line of Credit    
Debt Instrument [Line Items]    
Long-term debt, gross $ 0.0 200.0
Other financing obligations    
Debt Instrument [Line Items]    
Long-term debt, gross 29.5 29.9
Mortgage notes payable, secured | Mortgage Notes Payable    
Debt Instrument [Line Items]    
Long-term debt, gross $ 0.0 $ 16.4
v3.24.4
EMPLOYEE BENEFIT PLANS - Schedule of Components of Net Pension and Post-Retirement Expense (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Nov. 30, 2024
Dec. 02, 2023
Pension        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Estimated return on plan assets $ (20.9) $ (22.8) $ (70.1) $ (75.8)
Service cost 3.8 4.0 12.8 13.3
Interest cost 19.1 19.3 64.3 64.3
Amortization of prior service cost 0.1 0.1 0.3 0.3
Amortization of net actuarial gain (1.0) (1.2) (3.0) (4.2)
Settlement loss     4.7 0.0
Expense (income), net 1.1 (0.6) 9.0 (2.1)
Other post-retirement benefits        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Estimated return on plan assets 0.0 0.0 0.0 0.0
Service cost 0.0 0.0 0.0 0.0
Interest cost 0.1 0.1 0.4 0.4
Amortization of prior service cost 0.0 0.0 0.0 0.0
Amortization of net actuarial gain (0.1) (0.3) (0.5) (0.8)
Settlement loss     0.0 0.0
Expense (income), net $ 0.0 $ (0.2) $ (0.1) $ (0.4)
v3.24.4
EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Nov. 30, 2024
Dec. 02, 2023
Retirement Benefits [Abstract]        
Contribution made to defined benefit plan $ 42.5 $ 4.1 $ 79.6 $ 14.5
Expected future employer contributions for remainder of the fiscal year $ 11.9   $ 11.9  
v3.24.4
COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS (Details)
$ in Millions
 9 Months Ended
Jul. 30, 2024
lawsuit
Sep. 06, 2022
lawsuit
case
claim
Nov. 30, 2024
USD ($)
lawsuit
claim
case
Aug. 09, 2023
count
Apr. 18, 2023
case
Feb. 25, 2023
USD ($)
Qui Tam Lawsuits | Pending Litigation            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company     2      
Qui Tam Lawsuits | Pending Litigation | Minimum            
Loss Contingencies [Line Items]            
Loss contingency, amount of damages sought (in excess of) | $     $ 100.0      
United States ex rel. Schutte and Yarberry v. SuperValu, New Albertson's, Inc., et al. | Pending Litigation            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company | case         2  
Pharmacy Benefit Manager (PBM) Litigation | Pending Litigation            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company | count       17    
Consolidated Cases for Multidistrict Litigation            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company | claim   3 3      
Claims settled | case   15        
Liability for settlements | $           $ 21.5
Consolidated Cases for Multidistrict Litigation | New Mexico Counties            
Loss Contingencies [Line Items]            
Additional claims   14        
Consolidated Cases for Multidistrict Litigation | Threatened Litigation            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company | case     2,000      
Additional claims 150          
Consolidated Cases for Multidistrict Litigation | Threatened Litigation | Blackfeet Tribe            
Loss Contingencies [Line Items]            
Number of new claims filed     83      
Consolidated Cases for Multidistrict Litigation | Threatened Litigation | Tarrant County (Texas), Town of Hull (Massachusetts) and Monterey County (California)            
Loss Contingencies [Line Items]            
Number of lawsuits filed against the company | claim     3      
v3.24.4
OTHER COMPREHENSIVE INCOME OR LOSS (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Nov. 30, 2024
Dec. 02, 2023
Nov. 30, 2024
Dec. 02, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance $ 3,020.3 $ 2,216.6 $ 2,747.5 $ 1,610.7
Other comprehensive income before reclassifications     2.4 3.9
Amounts reclassified from accumulated other comprehensive income     1.5 (4.7)
Tax benefit (expense)     (1.0) 0.2
Other comprehensive income (loss) (1.7) (0.2) 2.9 (0.6)
Ending balance 3,365.7 2,527.3 3,365.7 2,527.3
Accumulated other comprehensive income        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance 92.6 68.9 88.0 69.3
Ending balance 90.9 68.7 90.9 68.7
Pension and Post-retirement benefit plans        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance     87.5 71.7
Other comprehensive income before reclassifications     0.0 0.0
Amounts reclassified from accumulated other comprehensive income     1.5 (4.7)
Tax benefit (expense)     (0.4) 1.2
Other comprehensive income (loss)     1.1 (3.5)
Ending balance 88.6 68.2 88.6 68.2
Other        
AOCI Attributable to Parent, Net of Tax [Roll Forward]        
Beginning balance     0.5 (2.4)
Other comprehensive income before reclassifications     2.4 3.9
Amounts reclassified from accumulated other comprehensive income     0.0 0.0
Tax benefit (expense)     (0.6) (1.0)
Other comprehensive income (loss)     1.8 2.9
Ending balance $ 2.3 $ 0.5 $ 2.3 $ 0.5
v3.24.4
NET INCOME PER CLASS A COMMON SHARE - Narrative (Details) - USD ($)
$ in Thousands
 9 Months Ended
Jun. 17, 2023
Nov. 30, 2024
Series A-1 Convertible Preferred Stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Preferred stock participation in cash dividends over dividends to common stock   $ 206,250
Series A Convertible Preferred Stock    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Convertible temporary equity, outstanding, percentage 100.00%  
Temporary equity, shares outstanding (in shares) 0  
v3.24.4
NET INCOME PER CLASS A COMMON SHARE - Schedule of Components of Basic and Diluted Net Income Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 4 Months Ended 9 Months Ended
Nov. 30, 2024
Sep. 07, 2024
Dec. 02, 2023
Sep. 09, 2023
Jun. 15, 2024
Jun. 17, 2023
Nov. 30, 2024
Dec. 02, 2023
Basic net income per Class A common share                
Net income $ 400.6 $ 145.5 $ 361.4 $ 266.9 $ 240.7 $ 417.2 $ 786.8 $ 1,045.5
Accrued dividends on Convertible Preferred Stock 0.0   0.0       0.0 (0.3)
Earnings allocated to Convertible Preferred Stock 0.0   0.0       0.0 (0.7)
Net income allocated to Class A common stockholders - Basic $ 400.6   $ 361.4       $ 786.8 $ 1,044.5
Weighted average Class A common shares outstanding - Basic (in shares) 580.2   576.2       579.7 575.2
Basic net income per Class A common share (in dollars per share) $ 0.69   $ 0.63       $ 1.36 $ 1.82
Diluted net income per Class A common share                
Net income allocated to Class A common stockholders - Basic $ 400.6   $ 361.4       $ 786.8 $ 1,044.5
Accrued dividends on Convertible Preferred Stock 0.0   0.0       0.0 0.0
Earnings allocated to Convertible Preferred Stock 0.0   0.0       0.0 0.0
Net income allocated to Class A common stockholders - Diluted $ 400.6   $ 361.4       $ 786.8 $ 1,044.5
Dilutive effect of:                
Convertible Preferred Stock (in shares) 0.0   0.0       0.0 0.0
Weighted average Class A common shares outstanding - Diluted (in shares) 584.1   581.1       582.9 580.5
Diluted net income per Class A common share (in dollars per share) $ 0.69   $ 0.62       $ 1.35 $ 1.80
Restricted stock units and awards                
Dilutive effect of:                
Restricted stock units and awards (in shares) 3.9   4.9       3.2 5.3
Series A-1 Convertible Preferred Stock                
Dilutive effect of:                
Convertible Preferred Stock (in shares)               0.4