Albertsons Companies (ACI) 10-Q 12 Jan 22 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 04, 2021	Jan. 10, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 4, 2021
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	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		483,118,147
Entity Central Index Key	0001646972
Current Fiscal Year End	--02-26
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 04, 2021	Feb. 27, 2021
Current assets
Cash and cash equivalents	$ 2,661	$ 1,717
Receivables, net	607.4	550.9
Inventories, net	4,671	4,301.3
Other current assets	440.3	418.8
Total current assets	8,379.7	6,988
Property and equipment, net	9,249.4	9,412.7
Operating lease right-of-use assets	5,922.8	6,015.6
Intangible assets, net	2,239.5	2,108.8
Goodwill	1,201	1,183.3
Other assets	943.7	889.6
TOTAL ASSETS	27,936.1	26,598
Current liabilities
Accounts payable	4,066.1	3,487.3
Accrued salaries and wages	1,483.3	1,474.7
Current maturities of long-term debt and finance lease obligations	82	212.4
Current maturities of operating lease obligations	627.8	605.3
Other current liabilities	1,202	1,052.5
Total current liabilities	7,461.2	6,832.2
Long-term debt and finance lease obligations	7,915.7	8,101.2
Long-term operating lease obligations	5,508.2	5,548
Deferred income taxes	684.9	533.7
Other long-term liabilities	2,456.3	2,659.5
Commitments and contingencies
STOCKHOLDERS' EQUITY
Additional paid-in capital	1,946.1	1,898.9
Treasury stock, at cost, 120,009,647 shares held as of December 4, 2021 and February 27, 2021	(1,907)	(1,907)
Accumulated other comprehensive income	78.6	63.5
Retained earnings	2,187.1	1,263
Total stockholders' equity	2,310.7	1,324.3
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	27,936.1	26,598
Series A convertible preferred stock
Current liabilities
Undesignated preferred stock	844.3	844.3
Series A-1 convertible preferred stock
Current liabilities
Undesignated preferred stock	754.8	754.8
Undesignated preferred stock
STOCKHOLDERS' EQUITY
Undesignated preferred stock, $0.01 par value; 96,840,000 shares authorized, no shares issued as of December 4, 2021 and February 27, 2021	0	0
Class A common stock
STOCKHOLDERS' EQUITY
Common stock	5.9	5.9
Class A-1 convertible common stock
STOCKHOLDERS' EQUITY
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 04, 2021	Feb. 27, 2021
Treasury stock, at cost (in shares)	120,009,647	120,009,647
Series A convertible preferred stock
Temporary equity, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Temporary equity, shares authorized (in shares)	1,750,000	1,750,000
Temporary equity, shares issued (in shares)	924,000	924,000
Temporary equity, shares outstanding (in shares)	924,000	924,000
Series A-1 convertible preferred stock
Temporary equity, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01
Temporary equity, shares authorized (in shares)	1,410,000	1,410,000
Temporary equity, shares issued (in shares)	826,000	826,000
Temporary equity, shares outstanding (in shares)	826,000	826,000
Undesignated preferred stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	96,840,000	96,840,000
Preferred stock, shares issued (in shares)	0	0
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)	587,855,940	585,574,666
Class A-1 convertible common stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock shares issued (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
Income Statement [Abstract]
Net sales and other revenue	$ 16,728.4	$ 15,408.9	$ 54,503.5	$ 53,918.1
Cost of sales	11,898.3	10,900.3	38,765.4	38,063.1
Gross margin	4,830.1	4,508.6	15,738.1	15,855
Selling and administrative expenses	4,243.9	4,309.1	13,978.8	14,109.7
Gain on property dispositions and impairment losses, net	(13.4)	(59)	(13.3)	(47)
Operating income	599.6	258.5	1,772.6	1,792.3
Interest expense, net	111.3	115.9	373.9	425.1
Loss on debt extinguishment	3.7	8.6	3.7	57.7
Other income, net	(38.3)	(19.2)	(100.7)	(27.5)
Income before income taxes	522.9	153.2	1,495.7	1,337
Income tax expense	98.4	29.5	331.2	342.6
Net income	424.5	123.7	1,164.5	994.4
Other comprehensive (loss) income, net of tax
Recognition of pension gain	0.1	0.6	15.3	11.5
Other	(0.2)	(0.1)	(0.2)	1.1
Other comprehensive (loss) income	(0.1)	0.5	15.1	12.6
Comprehensive income	$ 424.4	$ 124.2	$ 1,179.6	$ 1,007
Net income per Class A common share
Basic net income per class A common share (in dollars per share)	$ 0.78	$ 0.21	$ 1.97	$ 1.78
Diluted net income per class A common share (in dollars per share)	$ 0.74	$ 0.20	$ 1.95	$ 1.71
Weighted average Class A common shares outstanding
Basic (in shares)	466	468.7	465.4	511
Diluted (in shares)	574.2	472.1	471.2	580.3

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020
Cash flows from operating activities:
Net income	$ 1,164.5	$ 994.4
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on property dispositions and impairment losses, net	(13.3)	(47)
Depreciation and amortization	1,273.2	1,171.7
Operating lease right-of-use assets amortization	478.2	443.9
LIFO expense	58.6	37.5
Deferred income tax	99.4	(16.8)
Contributions to pension and post-retirement benefit plans, net of (income) expense	(73.6)	(80.6)
(Gain) loss on interest rate swaps and commodity hedges, net	(8.8)	24
Deferred financing costs	16	16.1
Loss on debt extinguishment	3.7	57.7
Equity-based compensation expense	75.4	43.4
Other	(48.7)	(46)
Changes in operating assets and liabilities:
Receivables, net	(69.6)	(23.1)
Inventories, net	(427.4)	(322.9)
Accounts payable, accrued salaries and wages and other accrued liabilities	627.6	627.1
Operating lease liabilities	(388.2)	(357.7)
Self-insurance assets and liabilities	34.7	20.6
Other operating assets and liabilities	(18.9)	453.7
Net cash provided by operating activities	2,782.8	2,996
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(25.4)	0
Payments for property, equipment and intangibles, including payments for lease buyouts	(1,216.4)	(1,083)
Proceeds from sale of long-lived assets	37.8	143.9
Other investing activities	26.9	(5.2)
Net cash used in investing activities	(1,177.1)	(944.3)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	3,500
Payments on long-term borrowings	(330.6)	(3,638.7)
Payments of obligations under finance leases	(50.6)	(52)
Payment of redemption premium on debt extinguishment	(2.9)	(48.6)
Payments for debt financing costs	0	(15.9)
Dividends paid on common stock	(149)	(47.3)
Dividends paid on convertible preferred stock	(88.6)	(36.4)
Proceeds from convertible preferred stock	0	1,680
Third party issuance costs on convertible preferred stock	0	(80.9)
Treasury stock purchase, at cost	0	(1,864.7)
Employee tax withholding on vesting of restricted stock units	(28.7)	(13.7)
Other financing activities	(11.3)	(25.7)
Net cash used in financing activities	(661.7)	(643.9)
Net increase in cash and cash equivalents and restricted cash	944	1,407.8
Cash and cash equivalents and restricted cash at beginning of period	1,767.6	478.9
Cash and cash equivalents and restricted cash at end of period	$ 2,711.6	$ 1,886.7

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Class A Common Stock	Additional paid in capital	Treasury Stock	Accumulated other comprehensive income	Retained earnings
Beginning balance (in shares) at Feb. 29, 2020		582,997,251		(3,671,621)
Beginning balance at Feb. 29, 2020	$ 2,278.1	$ 5.8	$ 1,824.3	$ (25.8)	$ (118.5)	$ 592.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock to Company's parents (in shares)		1,312,859
Equity-based compensation	19		19
Shares issued and employee tax withholding on vesting of restricted stock units	(6.2)		(6.2)
Repurchase of common stock (in shares)				101,611,736
Repurchase of common stock	(1,680)			$ (1,680)
Dividends accrued on convertible preferred stock	(3.9)					(3.9)
Net income	586.2					586.2
Other comprehensive income (loss), net of tax	1.7				1.7
Ending balance (in shares) at Jun. 20, 2020		584,310,110		(105,283,357)
Ending balance at Jun. 20, 2020	1,194.9	$ 5.8	1,837.1	$ (1,705.8)	(116.8)	1,174.6
Beginning balance (in shares) at Feb. 29, 2020		582,997,251		(3,671,621)
Beginning balance at Feb. 29, 2020	2,278.1	$ 5.8	1,824.3	$ (25.8)	(118.5)	592.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	994.4
Ending balance (in shares) at Dec. 05, 2020		585,530,715		(118,919,289)
Ending balance at Dec. 05, 2020	1,374.7	$ 5.9	1,883.8	$ (1,890.5)	(105.9)	1,481.4
Beginning balance (in shares) at Jun. 20, 2020		584,310,110		(105,283,357)
Beginning balance at Jun. 20, 2020	1,194.9	$ 5.8	1,837.1	$ (1,705.8)	(116.8)	1,174.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	9.3		9.3
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)		22,101
Shares issued and employee tax withholding on vesting of restricted stock units	(0.5)		(0.5)
Equity reclassification	30		30
Dividends accrued on convertible preferred stock	(26.9)					(26.9)
Net income	284.5					284.5
Other comprehensive income (loss), net of tax	10.4				10.4
Other activity	(0.1)		(0.1)
Ending balance (in shares) at Sep. 12, 2020		584,332,211		(105,283,357)
Ending balance at Sep. 12, 2020	1,501.6	$ 5.8	1,875.8	$ (1,705.8)	(106.4)	1,432.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	15.1		15.1
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)		1,198,504
Shares issued and employee tax withholding on vesting of restricted stock units	(6.9)	$ 0.1	(7)
Repurchase of common stock (in shares)				13,635,932
Repurchase of common stock	(184.7)			$ (184.7)
Cash dividends declared on common stock ($0.10 per common share)	(47.3)					(47.3)
Dividends accrued on convertible preferred stock	(27.3)					(27.3)
Net income	123.7					123.7
Other comprehensive income (loss), net of tax	0.5				0.5
Other activity	0		(0.1)			0.1
Ending balance (in shares) at Dec. 05, 2020		585,530,715		(118,919,289)
Ending balance at Dec. 05, 2020	1,374.7	$ 5.9	1,883.8	$ (1,890.5)	(105.9)	1,481.4
Beginning balance (in shares) at Feb. 27, 2021		585,574,666		(120,009,647)
Beginning balance at Feb. 27, 2021	1,324.3	$ 5.9	1,898.9	$ (1,907)	63.5	1,263
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)		945,942
Shares issued and employee tax withholding on vesting of restricted stock units	(10)		(10)
Cash dividends declared on common stock ($0.10 per common share)	(46.5)					(46.5)
Dividends accrued on convertible preferred stock	(36.4)					(36.4)
Net income	444.8					444.8
Other comprehensive income (loss), net of tax	0.1				0.1
Other activity	(0.1)		0			(0.1)
Ending balance (in shares) at Jun. 19, 2021		586,520,608		(120,009,647)
Ending balance at Jun. 19, 2021	1,698.4	$ 5.9	1,911.1	$ (1,907)	63.6	1,624.8
Beginning balance (in shares) at Feb. 27, 2021		585,574,666		(120,009,647)
Beginning balance at Feb. 27, 2021	1,324.3	$ 5.9	1,898.9	$ (1,907)	63.5	1,263
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,164.5
Ending balance (in shares) at Dec. 04, 2021		587,855,940		(120,009,647)
Ending balance at Dec. 04, 2021	2,310.7	$ 5.9	1,946.1	$ (1,907)	78.6	2,187.1
Beginning balance (in shares) at Jun. 19, 2021		586,520,608		(120,009,647)
Beginning balance at Jun. 19, 2021	1,698.4	$ 5.9	1,911.1	$ (1,907)	63.6	1,624.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	26.8		26.8
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)		147,495
Shares issued and employee tax withholding on vesting of restricted stock units	(1.8)		(1.8)
Cash dividends declared on common stock ($0.10 per common share)	(46.5)					(46.5)
Dividends accrued on convertible preferred stock	(27.3)					(27.3)
Net income	295.2					295.2
Other comprehensive income (loss), net of tax	15.1				15.1
Ending balance (in shares) at Sep. 11, 2021		586,668,103		(120,009,647)
Ending balance at Sep. 11, 2021	1,959.9	$ 5.9	1,936.1	$ (1,907)	78.7	1,846.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	26.4		26.4
Shares issued and employee tax withholding on vesting of restricted stock units (in shares)		1,187,837
Shares issued and employee tax withholding on vesting of restricted stock units	(16.9)		(16.9)
Cash dividends declared on common stock ($0.10 per common share)	(56)					(56)
Dividends accrued on convertible preferred stock	(27.2)					(27.2)
Net income	424.5					424.5
Other comprehensive income (loss), net of tax	(0.1)				(0.1)
Other activity	0.1		0.5			(0.4)
Ending balance (in shares) at Dec. 04, 2021		587,855,940		(120,009,647)
Ending balance at Dec. 04, 2021	$ 2,310.7	$ 5.9	$ 1,946.1	$ (1,907)	$ 78.6	$ 2,187.1

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended			4 Months Ended
	Dec. 04, 2021	Sep. 11, 2021	Dec. 05, 2020	Jun. 19, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.12	$ 0.10	$ 0.10	$ 0.10

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 04, 2021
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 27, 2021 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 27, 2021, filed with the Securities and Exchange Commission (the "SEC") on April 28, 2021. 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 December 4, 2021 and December 5, 2020. 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 funds held in escrow. The Company had $50.6 million of restricted cash as of December 4, 2021 and February 27, 2021. 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 uses either item-cost or the retail inventory method to value inventory before application of any last-in, first-out ("LIFO") reserve. 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 $29.5 million and $14.3 million for the 12 weeks ended December 4, 2021 and December 5, 2020, respectively, and $58.6 million and $37.5 million for the 40 weeks ended December 4, 2021 and December 5, 2020, respectively. Equity-based compensation: Equity-based compensation expense recognized in the Condensed Consolidated Statements of Operations (in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, RSUs $ 24.5 $ 13.6 $ 69.1 $ 39.4 RSAs 1.9 1.5 6.3 4.0 Total equity-based compensation expense $ 26.4 $ 15.1 $ 75.4 $ 43.4 Total related tax benefit $ 6.3 $ 3.5 $ 17.8 $ 10.1 As of December 4, 2021, there was $113.7 million of unrecognized costs related to 10.0 million unvested granted restricted stock units ("RSUs"). That cost is expected to be recognized over a weighted average period of 1.8 years. As of December 4, 2021, there was $5.5 million of unrecognized costs related to 1.0 million unvested granted restricted common stock ("RSAs"). That cost is expected to be recognized over a weighted average period of 1.9 years. Convertible Preferred Stock : Subsequent to the end of the 12 weeks ended December 4, 2021, certain holders of the Company's Series A-1 convertible preferred stock ("Series A-1 preferred stock") and Series A convertible preferred stock ("Series A preferred stock" and together with the Series A-1 preferred stock, the "Convertible Preferred Stock") converted approximately 262,601 shares of Convertible Preferred Stock into approximately 15,247,696 shares of the Company's Class A common stock. These conversions represented approximately 15% of the Convertible Preferred Stock outstanding as of the end of the 12 weeks ended December 4, 2021. Income taxes: Income tax expense was $98.4 million, representing a 18.8% effective tax rate, for the 12 weeks ended December 4, 2021. Income tax expense was $29.5 million, representing a 19.3% effective tax rate, for the 12 weeks ended December 5, 2020. The decrease in the effective income tax rate was primarily driven by incremental discrete state income tax benefits related to expired statutes and audit settlements during the 12 weeks ended December 4, 2021. Income tax expense was $331.2 million, representing a 22.1% effective tax rate, for the 40 weeks ended December 4, 2021. Income tax expense was $342.6 million, representing a 25.6% effective tax rate, for the 40 weeks ended December 5, 2020. The decrease in the effective income tax rate was primarily driven by the recognition of discrete state income tax benefits during the 40 weeks ended December 4, 2021 and certain nondeductible transaction-related costs incurred during the 40 weeks ended December 5, 2020. 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 $269.5 million and $262.5 million as of December 4, 2021 and February 27, 2021, 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 December 4, 2021 and February 27, 2021. 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 ("breakage") 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 $103.3 million as of December 4, 2021 and $98.1 million as of February 27, 2021. Breakage amounts were immaterial for the 12 and 40 weeks ended December 4, 2021 and December 5, 2020, respectively. Disaggregated Revenues The following table represents sales revenue by type of similar product (dollars in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, Amount (1) % of Total Amount (1) % of Total Amount (1) % of Total Amount (1) % of Total Non-perishables (2) $ 7,344.2 43.9 % $ 7,007.9 45.5 % $ 23,883.0 43.8 % $ 24,918.3 46.2 % Perishables (3) 6,798.0 40.6 6,369.7 41.3 22,533.8 41.3 22,579.4 41.9 Pharmacy 1,436.7 8.6 1,272.7 8.3 4,418.7 8.1 3,999.4 7.4 Fuel 906.6 5.4 528.9 3.4 2,874.4 5.3 1,688.9 3.1 Other (4) 242.9 1.5 229.7 1.5 793.6 1.5 732.1 1.4 Net sales and other revenue $ 16,728.4 100.0 % $ 15,408.9 100.0 % $ 54,503.5 100.0 % $ 53,918.1 100.0 % (1) Digital related sales are included in the categories to which the revenue pertains. (2) Consists primarily of general merchandise, grocery and frozen foods. (3) Consists primarily of produce, dairy, meat, deli, floral and seafood. (4) Consists primarily of wholesale revenue to third parties, commissions and other miscellaneous revenue. Recently issued accounting standards: In June 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, " Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equit y" ("ASU 2020-06"). ASU 2020-06 simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity and modifies the guidance on diluted earnings per share calculations as a result of these changes. ASU 2020-06 will take effect for public entities for annual reporting periods beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect of this standard on its Consolidated Financial Statements.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 04, 2021
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 assets and liabilities which were measured at fair value on a recurring basis as of December 4, 2021 (in millions): Fair Value Measurements Total Quoted prices in active markets Significant Significant Assets: Short-term investments (1) $ 12.0 $ 5.1 $ 6.9 $ — Non-current investments (2) 128.4 19.8 108.6 — Derivative contracts (3) 9.3 — 9.3 — Total $ 149.7 $ 24.9 $ 124.8 $ — Liabilities: Derivative contracts (4) $ 18.3 $ — $ 18.3 $ — Total $ 18.3 $ — $ 18.3 $ — (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 publicly traded stock (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. (4) Primarily relates to interest rate swaps. Included in Other current liabilities. The following table presents assets and liabilities which were measured at fair value on a recurring basis as of February 27, 2021 (in millions): Fair Value Measurements Total Quoted prices in active markets Significant Significant Assets: Short-term investments (1) $ 11.9 $ 4.4 $ 7.5 $ — Non-current investments (2) 110.2 40.3 69.9 — Total $ 122.1 $ 44.7 $ 77.4 $ — Liabilities: Derivative contracts (3) $ 40.0 $ — $ 40.0 $ — Total $ 40.0 $ — $ 40.0 $ — (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 publicly traded stock (Level 1) and U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets. (3) Primarily relates to interest rate swaps. Included in Other current liabilities. 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 December 4, 2021, the fair value of total debt was $7,850.0 million compared to the carrying value of $7,484.9 million, excluding debt discounts and deferred financing costs. As of February 27, 2021, the fair value of total debt was $8,150.7 million compared to the carrying value of $7,815.5 million, excluding debt discounts and deferred financing costs.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS The aggregate notional amount of the Company's interest rate swaps as of December 4, 2021 and February 27, 2021, were $1,553.0 million and $1,653.0 million, respectively, of which none were designated as cash flow hedges as defined by GAAP. Activity related to interest rate swaps, recorded in Other income, net, consisted of the following (in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, Gain (loss) on interest rate swaps $ 0.7 $ (0.3) $ 0.4 $ (19.7)

LONG-TERM DEBT AND FINANCE LEAS

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS	9 Months Ended
	Dec. 04, 2021
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 December 4, 2021 and February 27, 2021, net of unamortized debt discounts of $42.2 million and $44.8 million, respectively, and deferred financing costs of $60.1 million and $69.8 million, respectively, consisted of the following (in millions): December 4, February 27, Senior Unsecured Notes due 2023 to 2030, interest rate range of 3.25% to 7.50% $ 6,490.0 $ 6,680.5 Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% 374.4 504.3 New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% 471.6 469.1 Other financing obligations 29.2 29.4 Mortgage notes payable, secured 17.4 17.6 Finance lease obligations 615.1 612.7 Total debt 7,997.7 8,313.6 Less current maturities (82.0) (212.4) Long-term portion $ 7,915.7 $ 8,101.2 Senior Unsecured Notes On October 1, 2021, the Company provided notice to the holders and trustee of its election to redeem the $200.0 million aggregate principal amount outstanding (the "2025 Redemption") of the Company's 5.750% Senior Unsecured Notes due 2025 (the "2025 Notes"). The 2025 Notes were redeemed on November 1, 2021 (the "Redemption Date") using cash on hand, at a redemption price of 101.438% of the principal amount thereof plus accrued and unpaid interest on the 2025 Notes to, but excluding, the Redemption Date. The Company recorded a $3.7 million loss on debt extinguishment related to the 2025 Redemption, comprised of a $2.9 million make-whole premium and a $0.8 million write-off of deferred financing costs. Safeway Notes The Company repaid the remaining $130.0 million in aggregate principal amount outstanding of Safeway's 4.75% Notes due 2021 on their maturity date, December 1, 2021. ABL Facility As of December 4, 2021 and February 27, 2021, there were no amounts outstanding under the Company's asset-based loan facility ("ABL Facility"), and letters of credit ("LOC") issued under the LOC sub-facility were $249.6 million and $354.6 million, respectively. On December 20, 2021, subsequent to the end of the 12 weeks ended December 4, 2021, the existing ABL Facility was amended and restated to, among other things, extend the maturity date of the facility to December 20, 2026, reduce the unused line fee to 0.25% per annum and reduce the interest rate based on availability.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Dec. 04, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Pension and Other Post-Retirement Benefits The following tables provide the components of net pension and post-retirement (income) expense (in millions): 12 weeks ended Pension Other post-retirement benefits December 4, December 5, December 4, December 5, Estimated return on plan assets $ (22.1) $ (24.3) $ — $ — Service cost 4.5 3.7 — — Interest cost 8.1 9.7 — 0.1 Amortization of prior service cost 0.1 0.1 — 0.5 Amortization of net actuarial loss (gain) 0.1 0.4 — (0.2) (Income) expense, net $ (9.3) $ (10.4) $ — $ 0.4 40 weeks ended Pension Other post-retirement benefits December 4, December 5, December 4, December 5, Estimated return on plan assets $ (79.3) $ (79.5) $ — $ — Service cost 16.5 12.0 — — Interest cost 30.8 38.9 0.2 0.3 Amortization of prior service cost 0.2 0.2 — 1.5 Amortization of net actuarial loss (gain) 0.6 1.5 (0.3) (0.5) Settlement (gain) loss (14.3) 3.0 — — (Income) expense, net $ (45.5) $ (23.9) $ (0.1) $ 1.3 The Company contributed $16.8 million and $28.0 million to its defined pension plans and post-retirement benefit plans during the 12 and 40 weeks ended December 4, 2021, respectively. For the 12 and 40 weeks ended December 5, 2020, the Company contributed $1.7 million and $58.0 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 $9.9 million to these plans for the remainder of fiscal 2021. During the 40 weeks ended December 4, 2021, the Company purchased a group annuity policy and transferred $203.5 million of pension plan assets to an insurance company, thereby reducing the Company's defined benefit pension obligations by $205.4 million. As a result of the annuity purchase, the Company recorded a settlement gain of $11.1 million during the 40 weeks ended December 4, 2021. Defined Contribution Plans and Supplemental Retirement Plans Total contributions expensed for defined contribution plans (401(k) plans) were $15.5 million and $15.3 million for the 12 weeks ended December 4, 2021 and December 5, 2020, respectively. For the 40 weeks ended December 4, 2021 and December 5, 2020, total contributions expensed were $58.1 million and $53.4 million, respectively. Multiemployer Pension Plans ARP Act: The American Rescue Plan Act ("ARP Act") was signed into law on March 11, 2021. The ARP Act establishes a special financial assistance program for financially troubled multiemployer pension plans. Under the ARP Act, eligible multiemployer plans can apply to receive a one-time cash payment in the amount projected by the Pension Benefit Guaranty Corporation ("PBGC") to pay pension benefits through the plan year ending 2051. On July 9, 2021, the PBGC issued its interim final rule with respect to the special financial assistance program. The PBGC interim final rule provides direction on the application requirements, identifies which plans will have priority, eligibility requirements, the determination of the amount of financial assistance to be provided and establishes conditions and restrictions that apply to plans that receive the assistance. The Company reviewed the interim final rule and submitted comments during the 30-day comment period. On December 15, 2021, the PBGC announced that it will issue final regulations in January 2022. The Company's evaluation includes any potential impact to the Company's Excess Plan as defined in and further described in "Part II—Item 8. Financial Statements and Supplemental Data—Note 12" of the Company's Annual Report on Form 10-K for the fiscal year ended February 27, 2021.

COMMITMENTS AND CONTINGENCIES A

COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS	9 Months Ended
	Dec. 04, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS	COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS Guarantees California Department of Industrial Relations: On January 21, 2014, the Company entered into a Collateral Substitution Agreement with the California Self-Insurers' Security Fund to provide collateral related to certain California self-insured workers' compensation obligations pursuant to applicable regulations. The collateral not covered by the California Self-Insurers' Security Fund is covered by surety bonds for the benefit of the State of California Office of Self-Insurance Plans. A portion of the surety bonds is covered by irrevocable LOCs. The collateral requirements are adjusted annually based on semi-annual filings of an actuarial study reflecting liabilities as of December 31 of each year reduced by claim closures and settlements. The related LOC was $22.6 million as of December 4, 2021 and $40.1 million as of February 27, 2021, respectively. 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, including as a result of the economic dislocation caused by the response to the COVID-19 pandemic. 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 pursuant to contractual obligations in the ordinary course of its business. Legal Proceedings The Company is subject from time to time to various claims and lawsuits arising in the ordinary course of business, including lawsuits involving trade practices, lawsuits alleging violations of state and/or federal wage and hour laws (including alleged violations of meal and rest period laws and alleged misclassification issues), real estate disputes as well as other matters. 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 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. Management currently believes that the aggregate range of reasonably possible loss for the Company's exposure in excess of the amount accrued is expected to be immaterial to the Company. It remains possible that despite management's current belief, material differences in actual outcomes or changes in management's evaluation or predictions could arise that could have a material effect on the Company's financial condition, results of operations or cash flows. ERISA Litigation: Two lawsuits were brought against Safeway Inc. ("Safeway") and the Safeway Benefits Plan Committee (the "Benefit Plans Committee," and together with Safeway, the "Safeway Benefits Plans Defendants") and other third parties alleging breaches of fiduciary duty under the Employee Retirement Income Security Act of 1974, as amended ("ERISA") with respect to Safeway's 401(k) Plan (the "Safeway 401(k) Plan"). On July 14, 2016, a complaint was filed in the United States District Court for the Northern District of California by a participant in the Safeway 401(k) Plan individually and on behalf of the Safeway 401(k) Plan. An amended complaint was filed on November 18, 2016. On August 25, 2016, a second complaint was filed in the United States District Court for the Northern District of California by another participant in the Safeway 401(k) Plan individually and on behalf of all others similarly situated against the Safeway Benefits Plans Defendants and against the Safeway 401(k) Plan's former record-keepers. An amended complaint was filed on September 16, 2016, and a second amended complaint was filed on November 21, 2016. In general, both lawsuits alleged that the Safeway Benefits Plans Defendants breached their fiduciary duties under ERISA regarding the selection of investments offered under the Safeway 401(k) Plan and the fees and expenses related to those investments. All parties filed summary judgment motions which were heard and taken under submission on August 16, 2018. Plaintiffs' motions were denied, and defendants' motions were granted in part and denied in part. Bench trials for both matters were set for May 6, 2019. A settlement in principle was reached before trial. On September 13, 2019, settlement papers were filed with the Court along with a motion for preliminary approval of the settlement. A hearing for preliminary approval was set for November 20, 2019, but the Court vacated the hearing. The Court issued an order on March 30, 2020 requesting some minor changes to the notice procedures, and plaintiffs submitted an amended motion for preliminary approval. On September 8, 2020, the Court granted plaintiffs' amended motion, and a final approval hearing was held on April 26, 2021, at which time the Court took the matter under submission. On July 19, 2021, the Court issued a final order approving the settlement. In August 2021, a settlement fund was established with funds from insurers. A settlement administrator is now managing the calculation and payment of settlement provisions to class members. False Claims Act : The Company has received a civil investigative demand dated February 28, 2020 from the United States Attorney for the Southern District of New York in connection with a False Claims Act ("FCA") investigation relating to the Company's dispensing practices regarding insulin pen products. The investigation seeks documents regarding the Company's policies, practices and procedures, as well as dispensing data, among other things. The Company has cooperated with the U.S. Attorney in the investigation. The Company is currently unable to determine the probability of the outcome of this matter or the range of possible loss, if any. Two qui tam actions alleging violations of the FCA have also 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 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 Court denied relator's motion, and on December 11, 2020, relator filed a notice of appeal. The appeal is now pending in the Seventh Circuit Court of Appeals. Oral argument took place September 9, 2021. 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 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 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. Oral argument was held on January 19, 2021. 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. Relators have until March 3, 2022 to seek review by the U.S. Supreme Court. 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 and believes each of these cases is without merit. The Company has recorded an estimated liability for these matters. Opioid Litigation: The Company is one of dozens of companies that have been named in various lawsuits alleging that defendants contributed to the national opioid epidemic. At present, the Company is named in over 80 suits pending in various state courts as well as in the United States District Court for the Northern District of Ohio, where over 2,000 cases have been consolidated as Multi-District Litigation ("MDL") pursuant to 28 U.S.C. §1407. Most of these cases have been stayed pending bellwether trials. At present, the most active case is a matter in New Mexico state court where we have been in active discovery and where a September 2022 trial date has been set. A trial has also been scheduled in Nevada state court for April 2023. The MDL Court and a state court in Utah are currently considering position statements from the parties in connection with scheduling bellwether trials and it is likely that the Company may be included in one or more of those anticipated bellwether trials. The Company is vigorously defending these matters and believes that these cases are without merit. At this stage in the proceedings, the Company is unable to determine the probability of the outcome of these matters or the range of reasonably possible loss, if any. California Air Resources Board: Upon the inspection by the California Air Resources Board ("CARB") of several of the Company's stores in California, it was determined that the Company failed certain paperwork and other administrative requirements. As a result of the inspections, the Company proactively undertook a broad evaluation of the record keeping and administrative practices at all of its stores in California. In connection with this evaluation, the Company retained a third party to conduct an audit and correct deficiencies identified across its California store base. The Company is working with CARB to resolve these compliance issues and comply with governing regulations, and that work is ongoing. CARB has made an opening demand regarding potential fines and penalties. On July 7, 2021, the parties entered into a settlement agreement for which the Company has made the settlement payment. FACTA: On May 31, 2019, a putative class action complaint entitled Martin v. Safeway was filed in the California Superior Court for the County of Alameda, alleging the Company failed to comply with the Fair and Accurate Credit Transactions Act ("FACTA") by printing receipts that failed to adequately mask payment card numbers as required by FACTA. The plaintiff claims the violation was "willful" and exposes the Company to statutory damages provided for in FACTA. The Company has answered the complaint and is vigorously defending the matter. On January 8, 2020, the Company commenced mediation discussions with plaintiff's counsel and reached a settlement in principle on February 24, 2020. The parties have sought court approval of the settlement. A hearing is scheduled for March 2022 during which the court will review the settlement for approval. The Company has recorded an estimated liability for this matter. Other Commitments

OTHER COMPREHENSIVE INCOME OR L

OTHER COMPREHENSIVE INCOME OR LOSS	9 Months Ended
	Dec. 04, 2021
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 or loss 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 December 4, 2021 Total Pension and Post-retirement benefit plans Other Beginning balance $ 63.5 $ 61.3 $ 2.2 Other comprehensive income (loss) before reclassifications 34.1 34.3 (0.2) Amounts reclassified from accumulated other comprehensive income (13.8) (13.8) — Tax expense (5.2) (5.2) — Current-period other comprehensive income (loss), net of tax 15.1 15.3 (0.2) Ending balance $ 78.6 $ 76.6 $ 2.0 40 weeks ended December 5, 2020 Total Pension and Post-retirement benefit plans Other Beginning balance $ (118.5) $ (121.7) $ 3.2 Other comprehensive income before reclassifications 10.9 9.6 1.3 Amounts reclassified from accumulated other comprehensive income 5.7 5.7 — Tax expense (4.0) (3.8) (0.2) Current-period other comprehensive income, net of tax 12.6 11.5 1.1 Ending balance $ (105.9) $ (110.2) $ 4.3

NET INCOME PER CLASS A COMMON S

NET INCOME PER CLASS A COMMON SHARE	9 Months Ended
	Dec. 04, 2021
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. 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 RSUs and 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 ended 40 weeks ended December 4, December 5, December 4, December 5, Basic net income per Class A common share Net income $ 424.5 $ 123.7 $ 1,164.5 $ 994.4 Accrued dividends on Convertible Preferred Stock (27.2) (27.3) (90.9) (58.1) Earnings allocated to Convertible Preferred Stock (34.2) — (155.4) (25.4) Net income allocated to Class A common stockholders - Basic $ 363.1 $ 96.4 $ 918.2 $ 910.9 Weighted average Class A common shares outstanding - Basic (1) 466.0 468.7 465.4 511.0 Basic net income per Class A common share $ 0.78 $ 0.21 $ 1.97 $ 1.78 Diluted net income per Class A common share Net income allocated to Class A common stockholders - Basic $ 363.1 $ 96.4 $ 918.2 $ 910.9 Accrued dividends on Convertible Preferred Stock 27.2 — — 58.1 Earnings allocated to Convertible Preferred Stock 34.2 — — 25.4 Net income allocated to Class A common stockholders - Diluted $ 424.5 $ 96.4 $ 918.2 $ 994.4 Weighted average Class A common shares outstanding - Basic (1) 466.0 468.7 465.4 511.0 Dilutive effect of: Restricted stock units and awards 6.6 3.4 5.8 4.0 Convertible Preferred Stock (2) 101.6 — — 65.3 Weighted average Class A common shares outstanding - Diluted (3) 574.2 472.1 471.2 580.3 Diluted net income per Class A common share $ 0.74 $ 0.20 $ 1.95 $ 1.71 (1) There were no Class A common shares remaining to be issued for the 12 and 40 weeks ended December 4, 2021 and December 5, 2020. (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 4, 2021 and the 12 weeks ended December 5, 2020, 101.6 million potential common shares outstanding related to Convertible Preferred Stock were antidilutive. (3) There were no potential Class A common shares outstanding related to RSUs and RSAs that were antidilutive for the 12 and 40 weeks ended December 4, 2021 and December 5, 2020.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 04, 2021
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 27, 2021 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 27, 2021, filed with the Securities and Exchange Commission (the "SEC") on April 28, 2021. 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'
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 funds held in escrow.
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 uses either item-cost or the retail inventory method to value inventory before application of any last-in, first-out ("LIFO") reserve. Interim LIFO inventory costs are based on management's estimates of expected year-end inventory levels and inflation rates.
Income taxes	Income taxes:The decrease in the effective income tax rate was primarily driven by the recognition of discrete state income tax benefits during the 40 weeks ended December 4, 2021 and certain nondeductible transaction-related costs incurred during the 40 weeks ended December 5, 2020.
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 December 4, 2021 and February 27, 2021.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 ("breakage") 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 June 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06, " Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equit y" ("ASU 2020-06"). ASU 2020-06 simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity and modifies the guidance on diluted earnings per share calculations as a result of these changes. ASU 2020-06 will take effect for public entities for annual reporting periods beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the effect of this standard on its Consolidated Financial Statements.
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.

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Dec. 04, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Equity Based Compensation Expense Recognized	Equity-based compensation expense recognized in the Condensed Consolidated Statements of Operations (in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, RSUs $ 24.5 $ 13.6 $ 69.1 $ 39.4 RSAs 1.9 1.5 6.3 4.0 Total equity-based compensation expense $ 26.4 $ 15.1 $ 75.4 $ 43.4 Total related tax benefit $ 6.3 $ 3.5 $ 17.8 $ 10.1
Sales Revenue by Type of Similar Products	The following table represents sales revenue by type of similar product (dollars in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, Amount (1) % of Total Amount (1) % of Total Amount (1) % of Total Amount (1) % of Total Non-perishables (2) $ 7,344.2 43.9 % $ 7,007.9 45.5 % $ 23,883.0 43.8 % $ 24,918.3 46.2 % Perishables (3) 6,798.0 40.6 6,369.7 41.3 22,533.8 41.3 22,579.4 41.9 Pharmacy 1,436.7 8.6 1,272.7 8.3 4,418.7 8.1 3,999.4 7.4 Fuel 906.6 5.4 528.9 3.4 2,874.4 5.3 1,688.9 3.1 Other (4) 242.9 1.5 229.7 1.5 793.6 1.5 732.1 1.4 Net sales and other revenue $ 16,728.4 100.0 % $ 15,408.9 100.0 % $ 54,503.5 100.0 % $ 53,918.1 100.0 % (1) Digital related sales are included in the categories to which the revenue pertains. (2) Consists primarily of general merchandise, grocery and frozen foods. (3) Consists primarily of produce, dairy, meat, deli, floral and seafood. (4) Consists primarily of wholesale revenue to third parties, commissions and other miscellaneous revenue.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 04, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents assets and liabilities which were measured at fair value on a recurring basis as of December 4, 2021 (in millions): Fair Value Measurements Total Quoted prices in active markets Significant Significant Assets: Short-term investments (1) $ 12.0 $ 5.1 $ 6.9 $ — Non-current investments (2) 128.4 19.8 108.6 — Derivative contracts (3) 9.3 — 9.3 — Total $ 149.7 $ 24.9 $ 124.8 $ — Liabilities: Derivative contracts (4) $ 18.3 $ — $ 18.3 $ — Total $ 18.3 $ — $ 18.3 $ — (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 publicly traded stock (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. (4) Primarily relates to interest rate swaps. Included in Other current liabilities. The following table presents assets and liabilities which were measured at fair value on a recurring basis as of February 27, 2021 (in millions): Fair Value Measurements Total Quoted prices in active markets Significant Significant Assets: Short-term investments (1) $ 11.9 $ 4.4 $ 7.5 $ — Non-current investments (2) 110.2 40.3 69.9 — Total $ 122.1 $ 44.7 $ 77.4 $ — Liabilities: Derivative contracts (3) $ 40.0 $ — $ 40.0 $ — Total $ 40.0 $ — $ 40.0 $ — (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 publicly traded stock (Level 1) and U.S. Treasury Notes and Corporate Bonds (Level 2). Included in Other assets. (3) Primarily relates to interest rate swaps. Included in Other current liabilities.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 04, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments Designated as Cash Flow Hedges	Activity related to interest rate swaps, recorded in Other income, net, consisted of the following (in millions): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, Gain (loss) on interest rate swaps $ 0.7 $ (0.3) $ 0.4 $ (19.7)

LONG-TERM DEBT AND FINANCE LE_2

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS (Tables)	9 Months Ended
	Dec. 04, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The Company's long-term debt and finance lease obligations as of December 4, 2021 and February 27, 2021, net of unamortized debt discounts of $42.2 million and $44.8 million, respectively, and deferred financing costs of $60.1 million and $69.8 million, respectively, consisted of the following (in millions): December 4, February 27, Senior Unsecured Notes due 2023 to 2030, interest rate range of 3.25% to 7.50% $ 6,490.0 $ 6,680.5 Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% 374.4 504.3 New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% 471.6 469.1 Other financing obligations 29.2 29.4 Mortgage notes payable, secured 17.4 17.6 Finance lease obligations 615.1 612.7 Total debt 7,997.7 8,313.6 Less current maturities (82.0) (212.4) Long-term portion $ 7,915.7 $ 8,101.2

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Dec. 04, 2021
Retirement Benefits [Abstract]
Schedule of Components of Net Pension and Post-retirement Expense	The following tables provide the components of net pension and post-retirement (income) expense (in millions): 12 weeks ended Pension Other post-retirement benefits December 4, December 5, December 4, December 5, Estimated return on plan assets $ (22.1) $ (24.3) $ — $ — Service cost 4.5 3.7 — — Interest cost 8.1 9.7 — 0.1 Amortization of prior service cost 0.1 0.1 — 0.5 Amortization of net actuarial loss (gain) 0.1 0.4 — (0.2) (Income) expense, net $ (9.3) $ (10.4) $ — $ 0.4 40 weeks ended Pension Other post-retirement benefits December 4, December 5, December 4, December 5, Estimated return on plan assets $ (79.3) $ (79.5) $ — $ — Service cost 16.5 12.0 — — Interest cost 30.8 38.9 0.2 0.3 Amortization of prior service cost 0.2 0.2 — 1.5 Amortization of net actuarial loss (gain) 0.6 1.5 (0.3) (0.5) Settlement (gain) loss (14.3) 3.0 — — (Income) expense, net $ (45.5) $ (23.9) $ (0.1) $ 1.3

OTHER COMPREHENSIVE INCOME OR_2

OTHER COMPREHENSIVE INCOME OR LOSS (Tables)	9 Months Ended
	Dec. 04, 2021
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 December 4, 2021 Total Pension and Post-retirement benefit plans Other Beginning balance $ 63.5 $ 61.3 $ 2.2 Other comprehensive income (loss) before reclassifications 34.1 34.3 (0.2) Amounts reclassified from accumulated other comprehensive income (13.8) (13.8) — Tax expense (5.2) (5.2) — Current-period other comprehensive income (loss), net of tax 15.1 15.3 (0.2) Ending balance $ 78.6 $ 76.6 $ 2.0 40 weeks ended December 5, 2020 Total Pension and Post-retirement benefit plans Other Beginning balance $ (118.5) $ (121.7) $ 3.2 Other comprehensive income before reclassifications 10.9 9.6 1.3 Amounts reclassified from accumulated other comprehensive income 5.7 5.7 — Tax expense (4.0) (3.8) (0.2) Current-period other comprehensive income, net of tax 12.6 11.5 1.1 Ending balance $ (105.9) $ (110.2) $ 4.3

NET INCOME PER CLASS A COMMON_2

NET INCOME PER CLASS A COMMON SHARE (Tables)	9 Months Ended
	Dec. 04, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The components of basic and diluted net income per Class A common share were as follows (in millions, except per share data): 12 weeks ended 40 weeks ended December 4, December 5, December 4, December 5, Basic net income per Class A common share Net income $ 424.5 $ 123.7 $ 1,164.5 $ 994.4 Accrued dividends on Convertible Preferred Stock (27.2) (27.3) (90.9) (58.1) Earnings allocated to Convertible Preferred Stock (34.2) — (155.4) (25.4) Net income allocated to Class A common stockholders - Basic $ 363.1 $ 96.4 $ 918.2 $ 910.9 Weighted average Class A common shares outstanding - Basic (1) 466.0 468.7 465.4 511.0 Basic net income per Class A common share $ 0.78 $ 0.21 $ 1.97 $ 1.78 Diluted net income per Class A common share Net income allocated to Class A common stockholders - Basic $ 363.1 $ 96.4 $ 918.2 $ 910.9 Accrued dividends on Convertible Preferred Stock 27.2 — — 58.1 Earnings allocated to Convertible Preferred Stock 34.2 — — 25.4 Net income allocated to Class A common stockholders - Diluted $ 424.5 $ 96.4 $ 918.2 $ 994.4 Weighted average Class A common shares outstanding - Basic (1) 466.0 468.7 465.4 511.0 Dilutive effect of: Restricted stock units and awards 6.6 3.4 5.8 4.0 Convertible Preferred Stock (2) 101.6 — — 65.3 Weighted average Class A common shares outstanding - Diluted (3) 574.2 472.1 471.2 580.3 Diluted net income per Class A common share $ 0.74 $ 0.20 $ 1.95 $ 1.71 (1) There were no Class A common shares remaining to be issued for the 12 and 40 weeks ended December 4, 2021 and December 5, 2020. (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 4, 2021 and the 12 weeks ended December 5, 2020, 101.6 million potential common shares outstanding related to Convertible Preferred Stock were antidilutive. (3) There were no potential Class A common shares outstanding related to RSUs and RSAs that were antidilutive for the 12 and 40 weeks ended December 4, 2021 and December 5, 2020.

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021USD ($)formatshares	Dec. 05, 2020USD ($)	Dec. 04, 2021USD ($)divisionformatsegmentshares	Dec. 05, 2020USD ($)	Feb. 27, 2021USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Restricted cash	$ 50.6		$ 50.6		$ 50.6
LIFO expense	$ 29.5	$ 14.3	$ 58.6	$ 37.5
Preferred stock convertible, shares (in shares) | shares	262,601		262,601
Convertible preferred stock, outstanding, percentage	15.00%
Income tax expense	$ 98.4	$ 29.5	$ 331.2	$ 342.6
Effective tax rate	18.80%	19.30%	22.10%	25.60%
Number of divisions | division			12
Number of reportable segments | segment			1
Number of store format | format	1		1
Receivables, net	$ 607.4		$ 607.4		550.9
Contract liability related to gift cards	$ 103.3		103.3		98.1
Class A Common Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Conversion of stock, shares converted (in shares) | shares	15,247,696
Pharmacy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Receivables, net	$ 269.5		269.5		$ 262.5
RSUs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation cost not yet recognized	$ 113.7		$ 113.7
Number of unvested phantom units (in shares) | shares	10,000,000		10,000,000
Period for recognition of unrecognized compensation cost			1 year 9 months 18 days
RSAs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Compensation cost not yet recognized	$ 5.5		$ 5.5
Number of unvested phantom units (in shares) | shares	1,000,000		1,000,000
Period for recognition of unrecognized compensation cost			1 year 10 months 24 days

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Equity-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity-based compensation expense	$ 26.4	$ 15.1	$ 75.4	$ 43.4
Total related tax benefit	6.3	3.5	17.8	10.1
RSUs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity-based compensation expense	24.5	13.6	69.1	39.4
RSAs
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity-based compensation expense	$ 1.9	$ 1.5	$ 6.3	$ 4

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Sales Revenue by Similar Products (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
Concentration Risk [Line Items]
Net sales and other revenue	$ 16,728.4	$ 15,408.9	$ 54,503.5	$ 53,918.1
Product Line | Product Concentration Risk
Concentration Risk [Line Items]
Net sales and other revenue	$ 16,728.4	$ 15,408.9	$ 54,503.5	$ 53,918.1
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	$ 7,344.2	$ 7,007.9	$ 23,883	$ 24,918.3
Percentage of total net sales and other revenue	43.90%	45.50%	43.80%	46.20%
Perishables | Product Line | Product Concentration Risk
Concentration Risk [Line Items]
Net sales and other revenue	$ 6,798	$ 6,369.7	$ 22,533.8	$ 22,579.4
Percentage of total net sales and other revenue	40.60%	41.30%	41.30%	41.90%
Pharmacy | Product Line | Product Concentration Risk
Concentration Risk [Line Items]
Net sales and other revenue	$ 1,436.7	$ 1,272.7	$ 4,418.7	$ 3,999.4
Percentage of total net sales and other revenue	8.60%	8.30%	8.10%	7.40%
Fuel | Product Line | Product Concentration Risk
Concentration Risk [Line Items]
Net sales and other revenue	$ 906.6	$ 528.9	$ 2,874.4	$ 1,688.9
Percentage of total net sales and other revenue	5.40%	3.40%	5.30%	3.10%
Other | Product Line | Product Concentration Risk
Concentration Risk [Line Items]
Net sales and other revenue	$ 242.9	$ 229.7	$ 793.6	$ 732.1
Percentage of total net sales and other revenue	1.50%	1.50%	1.50%	1.40%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Millions	Dec. 04, 2021	Feb. 27, 2021
Assets:
Short-term investments	$ 12	$ 11.9
Non-current investments	128.4	110.2
Derivative Contracts	9.3
Total	149.7	122.1
Liabilities:
Derivative contracts	18.3	40
Total	18.3	40
Quoted prices in active markets for identical assets (Level 1)
Assets:
Short-term investments	5.1	4.4
Non-current investments	19.8	40.3
Derivative Contracts	0
Total	24.9	44.7
Liabilities:
Derivative contracts	0	0
Total	0	0
Significant observable inputs (Level 2)
Assets:
Short-term investments	6.9	7.5
Non-current investments	108.6	69.9
Derivative Contracts	9.3
Total	124.8	77.4
Liabilities:
Derivative contracts	18.3	40
Total	18.3	40
Significant unobservable inputs (Level 3)
Assets:
Short-term investments	0	0
Non-current investments	0	0
Derivative Contracts	0
Total	0	0
Liabilities:
Derivative contracts	0	0
Total	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Dec. 04, 2021	Feb. 27, 2021
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt amount	$ 7,850	$ 8,150.7
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total debt amount	$ 7,484.9	$ 7,815.5

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - Interest Rate Swaps - USD ($)	Dec. 04, 2021	Feb. 27, 2021
Swaps not Designated as Hedging Instruments
Derivative [Line Items]
Notional amount	$ 1,553,000,000	$ 1,653,000,000
Designated as Hedging Instrument | Cash Flow Hedging
Derivative [Line Items]
Notional amount	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Cash Flow Hedges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
Gain (loss) on interest rate swaps | Designated Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss recognized from derivatives	$ 0.7	$ (0.3)	$ 0.4	$ (19.7)

LONG-TERM DEBT AND FINANCE LE_3

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Narrative (Details) - USD ($)	Dec. 20, 2021	Nov. 01, 2021	Oct. 01, 2021	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020	Dec. 01, 2021	Feb. 27, 2021
Debt Instrument [Line Items]
Unamortized debt discounts				$ 42,200,000		$ 42,200,000			$ 44,800,000
Deferred financing costs				60,100,000		60,100,000			69,800,000
Loss on debt extinguishment				3,700,000	$ 8,600,000	3,700,000	$ 57,700,000
Outstanding balance on letters of credit				22,600,000		22,600,000			40,100,000
Senior Notes
Debt Instrument [Line Items]
Loss on debt extinguishment			$ 3,700,000
Redemption Premium			2,900,000
Write-off of deferred financings costs			800,000
2025 Notes | Senior Notes
Debt Instrument [Line Items]
Face amount of debt instrument			$ 200,000,000
Stated interest rate percentage			5.75%
Debt instrument, redemption price, percentage		101.438%
Senior Notes due 2021, 4.75% | Senior Notes
Debt Instrument [Line Items]
Face amount of debt instrument								$ 130,000,000
Stated interest rate percentage								4.75%
Asset-Based Loan Facility | Line of Credit
Debt Instrument [Line Items]
Outstanding balance on line of credit				0		0			0
Asset-Based Loan Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Unused fee percentage	0.25%
LOC Sub-facility
Debt Instrument [Line Items]
Outstanding balance on letters of credit				$ 249,600,000		$ 249,600,000			$ 354,600,000

LONG-TERM DEBT AND FINANCE LE_4

LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Dec. 04, 2021	Feb. 27, 2021
Debt Instrument [Line Items]
Finance lease obligations	$ 615.1	$ 612.7
Total debt	7,997.7	8,313.6
Less current maturities	(82)	(212.4)
Long-term portion	7,915.7	8,101.2
Other financing obligations
Debt Instrument [Line Items]
Long-term debt, gross	29.2	29.4
Senior Notes | Senior Unsecured Notes due 2023 to 2030, interest rate range of 3.25% to 7.50%
Debt Instrument [Line Items]
Long-term debt, gross	$ 6,490	6,680.5
Senior Notes | Senior Unsecured Notes due 2023 to 2030, interest rate range of 3.25% to 7.50% | Minimum
Debt Instrument [Line Items]
Stated interest rate percentage	3.25%
Senior Notes | Senior Unsecured Notes due 2023 to 2030, interest rate range of 3.25% to 7.50% | Maximum
Debt Instrument [Line Items]
Stated interest rate percentage	7.50%
Notes Payable | Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45%
Debt Instrument [Line Items]
Long-term debt, gross	$ 374.4	504.3
Notes Payable | Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% | Minimum
Debt Instrument [Line Items]
Stated interest rate percentage	7.25%
Notes Payable | Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45% | Maximum
Debt Instrument [Line Items]
Stated interest rate percentage	7.45%
Notes Payable | New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70%
Debt Instrument [Line Items]
Long-term debt, gross	$ 471.6	469.1
Notes Payable | New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% | Minimum
Debt Instrument [Line Items]
Stated interest rate percentage	6.52%
Notes Payable | New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70% | Maximum
Debt Instrument [Line Items]
Stated interest rate percentage	8.70%
Mortgage Notes Payable | Mortgage notes payable, secured
Debt Instrument [Line Items]
Long-term debt, gross	$ 17.4	$ 17.6

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Components of Net Pension and Post-Retirement Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated return on plan assets	$ (22.1)	$ (24.3)	$ (79.3)	$ (79.5)
Service cost	4.5	3.7	16.5	12
Interest cost	8.1	9.7	30.8	38.9
Amortization of prior service cost	0.1	0.1	0.2	0.2
Amortization of net actuarial loss (gain)	0.1	0.4	0.6	1.5
Settlement (gain) loss			(14.3)	3
(Income) expense, net	(9.3)	(10.4)	(45.5)	(23.9)
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
Service cost	0	0	0	0
Interest cost	0	0.1	0.2	0.3
Amortization of prior service cost	0	0.5	0	1.5
Amortization of net actuarial loss (gain)	0	(0.2)	(0.3)	(0.5)
Settlement (gain) loss			0	0
(Income) expense, net	$ 0	$ 0.4	$ (0.1)	$ 1.3

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
Retirement Benefits [Abstract]
Contribution made to defined benefit plan	$ 16.8	$ 1.7	$ 28	$ 58
Expected future employer contributions for remainder of the fiscal year	9.9		9.9
Defined benefit plan, transferred			203.5
Defined benefit pension obligation			205.4
Defined benefit plan gain due to settlement			11.1
Defined contribution plan costs recognized	$ 15.5	$ 15.3	$ 58.1	$ 53.4

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS - Guarantees (Details) - USD ($) $ in Millions	Dec. 04, 2021	Feb. 27, 2021
Commitments and Contingencies Disclosure [Abstract]
Outstanding balance on letters of credit	$ 22.6	$ 40.1

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS - Legal Contingencies (Details) $ in Millions	9 Months Ended
	Dec. 04, 2021USD ($)claimlawsuit
Safeway's 401(k) Plan | Pending litigation | Safeway Inc
Loss Contingencies [Line Items]
Number of lawsuits filed against the company | lawsuit	2
Qui Tam Lawsuits | Pending litigation
Loss Contingencies [Line Items]
Number of lawsuits filed against the company | lawsuit	2
Loss contingency, amount of damages sought (in excess of) | $	$ 100
Various State Courts | Threatened litigation
Loss Contingencies [Line Items]
Number of lawsuits filed against the company | claim	80
Consolidated Cases for Multidistrict Litigation
Loss Contingencies [Line Items]
Number of lawsuits filed against the company | claim	2,000

OTHER COMPREHENSIVE INCOME OR_3

OTHER COMPREHENSIVE INCOME OR LOSS - Changes in the AOCI Balance (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 04, 2021	Dec. 05, 2020	Dec. 04, 2021	Dec. 05, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,959.9	$ 1,501.6	$ 1,324.3	$ 2,278.1
Other comprehensive income (loss) before reclassifications			34.1	10.9
Amounts reclassified from accumulated other comprehensive income			(13.8)	5.7
Tax expense			(5.2)	(4)
Other comprehensive (loss) income	(0.1)	0.5	15.1	12.6
Ending balance	2,310.7	1,374.7	2,310.7	1,374.7
Accumulated other comprehensive income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	78.7	(106.4)	63.5	(118.5)
Ending balance	78.6	(105.9)	78.6	(105.9)
Pension and Post-retirement benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			61.3	(121.7)
Other comprehensive income (loss) before reclassifications			34.3	9.6
Amounts reclassified from accumulated other comprehensive income			(13.8)	5.7
Tax expense			(5.2)	(3.8)
Other comprehensive (loss) income			15.3	11.5
Ending balance	76.6	(110.2)	76.6	(110.2)
Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			2.2	3.2
Other comprehensive income (loss) before reclassifications			(0.2)	1.3
Amounts reclassified from accumulated other comprehensive income			0	0
Tax expense			0	(0.2)
Other comprehensive (loss) income			(0.2)	1.1
Ending balance	$ 2	$ 4.3	$ 2	$ 4.3

NET INCOME PER CLASS A COMMON_3

NET INCOME PER CLASS A COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				4 Months Ended		9 Months Ended
	Dec. 04, 2021	Sep. 11, 2021	Dec. 05, 2020	Sep. 12, 2020	Jun. 19, 2021	Jun. 20, 2020	Dec. 04, 2021	Dec. 05, 2020
Basic net income per Class A common share
Net income	$ 424,500	$ 295,200	$ 123,700	$ 284,500	$ 444,800	$ 586,200	$ 1,164,500	$ 994,400
Accrued dividends on Convertible Preferred Stock	(27,200)		(27,300)				(90,900)	(58,100)
Earnings allocated to Convertible Preferred Stock	(34,200)		0				(155,400)	(25,400)
Net income allocated to Class A common stockholders - Basic	$ 363,100		$ 96,400				$ 918,200	$ 910,900
Weighted average class A common shares outstanding - Basic (in shares)	466,000,000		468,700,000				465,400,000	511,000,000
Basic net income per class A common share (in dollars per share)	$ 0.78		$ 0.21				$ 1.97	$ 1.78
Diluted net income per Class A common share
Net income allocated to Class A common stockholders - Basic	$ 363,100		$ 96,400				$ 918,200	$ 910,900
Accrued dividends on Convertible Preferred Stock	27,200		0				0	58,100
Earnings allocated to Convertible Preferred Stock	34,200		0				0	25,400
Net income allocated to Class A common stockholders - Diluted	$ 424,500		$ 96,400				$ 918,200	$ 994,400
Dilutive effect of:
Restricted stock units and awards (in shares)	0							0
Convertible preferred stock (in shares)	101,600,000		0				0	65,300,000
Weighted average class A common shares outstanding - Diluted (in shares)	574,200,000		472,100,000				471,200,000	580,300,000
Diluted net income per class A common share (in dollars per share)	$ 0.74		$ 0.20				$ 1.95	$ 1.71
Antidilutive securities excluded from computation of diluted income per common share (in shares)	0						0
RSUs
Dilutive effect of:
Restricted stock units and awards (in shares)	6,600,000		3,400,000				5,800,000	4,000,000
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
Dilutive effect of:
Convertible preferred stock (in shares)			101,600,000