The Kroger Co. (KR) 10-Q 8 Dec 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	9 Months Ended
	Nov. 04, 2023	Dec. 05, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 04, 2023
Document Transition Report	false
Entity File Number	1-303
Entity Registrant Name	The Kroger Co.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0345740
Entity Address, Address Line One	1014 Vine Street
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45202
City Area Code	513
Local Phone Number	762-4000
Title of 12(b) Security	Common, $1.00 Par Value
Trading Symbol	KR
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		719,423,447
Entity Listing, Par Value Per Share	$ 1
Entity Central Index Key	0000056873
Current Fiscal Year End Date	--02-03
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
CONSOLIDATED STATEMENTS OF OPERATIONS
Sales	$ 33,957	$ 34,198	$ 112,975	$ 113,436
Operating expenses
Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below	26,477	26,890	88,032	89,234
Operating, general and administrative	5,646	5,587	19,974	18,001
Rent	201	195	671	642
Depreciation and amortization	721	685	2,396	2,259
Operating profit	912	841	1,902	3,300
Other income (expense)
Interest expense	(94)	(119)	(341)	(422)
Non-service component of company-sponsored pension plan benefits	7	11	24	38
Gain (loss) on investments	26	(207)	317	(637)
Net earnings before income tax expense	851	526	1,902	2,279
Income tax expense	204	126	472	481
Net earnings including noncontrolling interests	647	400	1,430	1,798
Net income attributable to noncontrolling interests	1	2	2	5
Net earnings attributable to The Kroger Co.	$ 646	$ 398	$ 1,428	$ 1,793
Net earnings attributable to The Kroger Co. per basic common share	$ 0.89	$ 0.55	$ 1.97	$ 2.47
Average number of common shares used in basic calculation	719	716	718	719
Net earnings attributable to The Kroger Co. per diluted common share	$ 0.88	$ 0.55	$ 1.95	$ 2.44
Average number of common shares used in diluted calculation	725	724	725	728

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings including noncontrolling interests		$ 647	$ 400	$ 1,430	$ 1,798
Other comprehensive (loss) income
Change in pension and other postretirement defined benefit plans, net of income tax(1)	[1]	(3)	13	(10)	12
Unrealized gains and losses on cash flow hedging activities, net of income tax(2)	[2]	121	37	317	37
Amortization of unrealized gains and losses on cash flow hedging activities, net of income tax(3)	[3]	1	2	4	6
Total other comprehensive income		119	52	311	55
Comprehensive income		766	452	1,741	1,853
Comprehensive income attributable to noncontrolling interests		1	2	2	5
Comprehensive income attributable to The Kroger Co.		$ 765	$ 450	$ 1,739	$ 1,848
[1] Amount is net of tax of $(1) for the third quarter of 2023 and $(3) for the first three quarters of 2023. Amount is net of tax of $36 for the third quarter of 2023 and $96 for the first three quarters of 2023. Amount is net of tax of $11 for the third quarter and the first three quarters of 2022. Amount is net of tax of $1 for the third quarter of 2023 and $2 for the first three quarters of 2023. Amount is net of tax of $1 for the first three quarters of 2022.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Change in pension and other postretirement defined benefit plans, income tax	$ (1)		$ (3)
Unrealized gains and losses on cash flow hedging activities, income tax	36	$ 11	96	$ 11
Amortization of unrealized gains and losses on cash flow hedging activities, income tax	$ 1		$ 2	$ 1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Nov. 04, 2023	Jan. 28, 2023
Current assets
Cash and temporary cash investments	$ 1,725	$ 1,015
Store deposits in-transit	1,197	1,127
Receivables	1,938	2,234
FIFO inventory	10,258	9,756
LIFO reserve	(2,327)	(2,196)
Prepaid and other current assets	648	734
Total current assets	13,439	12,670
Property, plant and equipment, net	24,882	24,726
Operating lease assets	6,752	6,662
Intangibles, net	890	899
Goodwill	2,916	2,916
Other assets	2,142	1,750
Total Assets	51,021	49,623
Current liabilities
Current portion of long-term debt including obligations under finance leases	724	1,310
Current portion of operating lease liabilities	668	662
Trade accounts payable	8,149	7,119
Accrued salaries and wages	1,177	1,746
Other current liabilities	6,067	6,401
Total current liabilities	16,785	17,238
Long-term debt including obligations under finance leases	12,039	12,068
Noncurrent operating lease liabilities	6,408	6,372
Deferred income taxes	1,506	1,672
Pension and postretirement benefit obligations	387	436
Other long-term liabilities	2,705	1,823
Total Liabilities	39,830	39,609
Commitments and contingencies see Note 6
SHAREOWNERS' EQUITY
Preferred shares, $100 par per share, 5 shares authorized and unissued
Common shares, $1 par per share, 2,000 shares authorized; 1,918 shares issued in 2023 and 2022	1,918	1,918
Additional paid-in capital	3,871	3,805
Accumulated other comprehensive loss	(321)	(632)
Accumulated earnings	26,421	25,601
Common shares in treasury, at cost, 1,198 shares in 2023 and 1,202 shares in 2022	(20,680)	(20,650)
Total Shareowners' Equity - The Kroger Co.	11,209	10,042
Noncontrolling interests	(18)	(28)
Total Equity	11,191	10,014
Total Liabilities and Equity	$ 51,021	$ 49,623

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Nov. 04, 2023	Jan. 28, 2023
CONSOLIDATED BALANCE SHEETS
Preferred shares, par per share (in dollars per share)	$ 100	$ 100
Preferred shares, shares authorized	5	5
Preferred shares, shares unissued	5	5
Common shares, par per share (in dollars per share)	$ 1	$ 1
Common shares, shares authorized	2,000	2,000
Common shares, shares issued	1,918	1,918
Common shares in treasury, shares	1,198	1,202

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022
Cash Flows from Operating Activities:
Net earnings including noncontrolling interests	$ 1,430	$ 1,798
Adjustments to reconcile net earnings including noncontrolling interests to net cash provided by operating activities:
Depreciation and amortization	2,396	2,259
Operating lease asset amortization	472	471
LIFO charge	131	392
Share-based employee compensation	124	145
Company-sponsored pension plans	(8)	(28)
Deferred income taxes	(261)	(93)
Gain on the sale of assets	(45)	(36)
(Gain) loss on investments	(317)	637
Other	128	82
Changes in operating assets and liabilities:
Store deposits in-transit	(70)	(127)
Receivables	133	(130)
Inventories	(502)	(2,267)
Prepaid and other current assets	45	99
Trade accounts payable	1,030	1,102
Accrued expenses	(426)	146
Income taxes receivable and payable	148	(69)
Operating lease liabilities	(539)	(533)
Other	999	(510)
Net cash provided by operating activities	4,868	3,338
Cash Flows from Investing Activities:
Payments for property and equipment, including payments for lease buyouts	(2,907)	(2,261)
Proceeds from sale of assets	94	71
Other	68	(2)
Net cash used by investing activities	(2,745)	(2,192)
Cash Flows from Financing Activities:
Payments on long-term debt including obligations under finance leases	(755)	(526)
Dividends paid	(586)	(494)
Financing fees paid		(62)
Proceeds from issuance of capital stock	42	127
Treasury stock purchases	(54)	(985)
Other	(60)	(111)
Net cash used by financing activities	(1,413)	(2,051)
Net increase (decrease) in cash and temporary cash investments	710	(905)
Cash and temporary cash investments:
Beginning of year	1,015	1,821
End of period	1,725	916
Reconciliation of capital investments:
Payments for property and equipment, including payments for lease buyouts	(2,907)	(2,261)
Payments for lease buyouts		10
Changes in construction-in-progress payables	421	59
Total capital investments, excluding lease buyouts	(2,486)	(2,192)
Disclosure of cash flow information:
Cash paid during the year for interest	380	456
Cash paid during the year for income taxes	$ 579	$ 649

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY - USD ($) shares in Millions, $ in Millions	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Earnings	Noncontrolling Interest	Total
Balances at Jan. 29, 2022	$ 1,918	$ 3,657	$ (19,722)	$ (467)	$ 24,066	$ (23)	$ 9,429
Balances (in shares) at Jan. 29, 2022	1,918
Balances (in shares) at Jan. 29, 2022			1,191
Issuance of common stock:
Stock options exercised			$ 113				113
Stock options exercised (in shares)			(4)
Restricted stock issued		(77)	$ 12				(65)
Restricted stock issued (in shares)			(2)
Treasury stock activity:
Treasury stock purchases, at cost			$ (520)				(520)
Treasury stock purchases, at cost (in shares)			10
Stock options exchanged			$ (145)				(145)
Stock options exchanged (in shares)			3
Share-based employee compensation		57					57
Other comprehensive income (loss), net of tax				2			2
Other		77	$ (77)			3	3
Cash dividends declared per common share					(147)		(147)
Net earnings including noncontrolling interests					664	2	666
Balances at May. 21, 2022	$ 1,918	3,714	$ (20,339)	(465)	24,583	(18)	9,393
Balances (in shares) at May. 21, 2022	1,918
Balances (in shares) at May. 21, 2022			1,198
Balances at Jan. 29, 2022	$ 1,918	3,657	$ (19,722)	(467)	24,066	(23)	9,429
Balances (in shares) at Jan. 29, 2022	1,918
Balances (in shares) at Jan. 29, 2022			1,191
Treasury stock activity:
Other comprehensive income (loss), net of tax				55			55
Net earnings including noncontrolling interests							1,798
Balances at Nov. 05, 2022	$ 1,918	3,758	$ (20,647)	(412)	25,338	(26)	9,929
Balances (in shares) at Nov. 05, 2022	1,918
Balances (in shares) at Nov. 05, 2022			1,202
Balances at May. 21, 2022	$ 1,918	3,714	$ (20,339)	(465)	24,583	(18)	9,393
Balances (in shares) at May. 21, 2022	1,918
Balances (in shares) at May. 21, 2022			1,198
Issuance of common stock:
Stock options exercised			$ 6				6
Restricted stock issued		(89)	$ 47				(42)
Restricted stock issued (in shares)			(2)
Treasury stock activity:
Treasury stock purchases, at cost			$ (300)				(300)
Treasury stock purchases, at cost (in shares)			6
Stock options exchanged			$ (10)				(10)
Share-based employee compensation		46					46
Other comprehensive income (loss), net of tax				1			1
Other		45	(45)			(1)	(1)
Cash dividends declared per common share					(186)		(186)
Net earnings including noncontrolling interests					731	1	732
Balances at Aug. 13, 2022	$ 1,918	3,716	$ (20,641)	(464)	25,128	(18)	9,639
Balances (in shares) at Aug. 13, 2022	1,918
Balances (in shares) at Aug. 13, 2022			1,202
Issuance of common stock:
Stock options exercised			$ 8				8
Restricted stock issued		(4)					(4)
Treasury stock activity:
Treasury stock purchases, at cost			(1)				(1)
Stock options exchanged			(9)				(9)
Share-based employee compensation		42					42
Other comprehensive income (loss), net of tax				52			52
Other		4	(4)			(10)	(10)
Cash dividends declared per common share					(188)		(188)
Net earnings including noncontrolling interests					398	2	400
Balances at Nov. 05, 2022	$ 1,918	3,758	$ (20,647)	(412)	25,338	(26)	9,929
Balances (in shares) at Nov. 05, 2022	1,918
Balances (in shares) at Nov. 05, 2022			1,202
Issuance of common stock:
Stock options exercised			$ 7				7
Restricted stock issued		(3)	3
Treasury stock activity:
Stock options exchanged			(8)				(8)
Share-based employee compensation		45					45
Other comprehensive income (loss), net of tax				(220)			(220)
Other		5	(5)			(2)	(2)
Cash dividends declared per common share					(188)		(188)
Net earnings including noncontrolling interests					451		451
Balances at Jan. 28, 2023	$ 1,918	3,805	$ (20,650)	(632)	25,601	(28)	$ 10,014
Balances (in shares) at Jan. 28, 2023	1,918						1,918
Balances (in shares) at Jan. 28, 2023			1,202				1,202
Issuance of common stock:
Stock options exercised			$ 23				$ 23
Stock options exercised (in shares)			(1)
Restricted stock issued		(72)	$ 30				(42)
Restricted stock issued (in shares)			(1)
Treasury stock activity:
Stock options exchanged			$ (29)				(29)
Share-based employee compensation		49					49
Other comprehensive income (loss), net of tax				88			88
Other		44	(44)			3	3
Cash dividends declared per common share					(188)		(188)
Net earnings including noncontrolling interests					962		962
Balances at May. 20, 2023	$ 1,918	3,826	$ (20,670)	(544)	26,375	(25)	10,880
Balances (in shares) at May. 20, 2023	1,918
Balances (in shares) at May. 20, 2023			1,200
Balances at Jan. 28, 2023	$ 1,918	3,805	$ (20,650)	(632)	25,601	(28)	$ 10,014
Balances (in shares) at Jan. 28, 2023	1,918						1,918
Balances (in shares) at Jan. 28, 2023			1,202				1,202
Treasury stock activity:
Other comprehensive income (loss), net of tax				311			$ 311
Net earnings including noncontrolling interests							1,430
Balances at Nov. 04, 2023	$ 1,918	3,871	$ (20,680)	(321)	26,421	(18)	$ 11,191
Balances (in shares) at Nov. 04, 2023	1,918						1,918
Balances (in shares) at Nov. 04, 2023			1,198				1,198
Balances at May. 20, 2023	$ 1,918	3,826	$ (20,670)	(544)	26,375	(25)	$ 10,880
Balances (in shares) at May. 20, 2023	1,918
Balances (in shares) at May. 20, 2023			1,200
Issuance of common stock:
Stock options exercised			$ 13				13
Stock options exercised (in shares)			(1)
Restricted stock issued		(85)	$ 55				(30)
Restricted stock issued (in shares)			(1)
Treasury stock activity:
Stock options exchanged			$ (18)				(18)
Share-based employee compensation		43					43
Other comprehensive income (loss), net of tax				104			104
Other		56	(56)			2	2
Cash dividends declared per common share					(211)		(211)
Net earnings including noncontrolling interests					(180)	1	(179)
Balances at Aug. 12, 2023	$ 1,918	3,840	$ (20,676)	(440)	25,984	(22)	10,604
Balances (in shares) at Aug. 12, 2023	1,918
Balances (in shares) at Aug. 12, 2023			1,198
Issuance of common stock:
Stock options exercised			$ 6				6
Restricted stock issued		(4)					(4)
Treasury stock activity:
Stock options exchanged			(7)				(7)
Share-based employee compensation		(32)					(32)
Other comprehensive income (loss), net of tax				119			119
Other		3	(3)			3	3
Cash dividends declared per common share					(209)		(209)
Net earnings including noncontrolling interests					646	1	647
Balances at Nov. 04, 2023	$ 1,918	$ 3,871	$ (20,680)	$ (321)	$ 26,421	$ (18)	$ 11,191
Balances (in shares) at Nov. 04, 2023	1,918						1,918
Balances (in shares) at Nov. 04, 2023			1,198				1,198

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended					4 Months Ended
	Nov. 04, 2023	Aug. 12, 2023	Jan. 28, 2023	Nov. 05, 2022	Aug. 13, 2022	May 20, 2023	May 21, 2022
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREOWNERS' EQUITY
Other comprehensive income (loss), tax	$ 36	$ 32	$ (63)	$ 11	$ 1	$ 26
Cash dividends declared per common share (in dollars per share)	$ 0.29	$ 0.29	$ 0.26	$ 0.26	$ 0.26	$ 0.26	$ 0.21

ACCOUNTING POLICIES

ACCOUNTING POLICIES	9 Months Ended
	Nov. 04, 2023
ACCOUNTING POLICIES
ACCOUNTING POLICIES	1. ACCOUNTING POLICIES ​ Basis of Presentation and Principles of Consolidation ​ The accompanying financial statements include the consolidated accounts of The Kroger Co., its wholly-owned subsidiaries and other consolidated entities. The January 28, 2023 balance sheet was derived from audited financial statements and, due to its summary nature, does not include all disclosures required by generally accepted accounting principles (“GAAP”). Significant intercompany transactions and balances have been eliminated. References to the “Company” in these Consolidated Financial Statements mean the consolidated company. ​ In the opinion of management, the accompanying unaudited Consolidated Financial Statements include adjustments, all of which are of a normal, recurring nature that are necessary for a fair statement of results of operations for such periods but should not be considered as indicative of results for a full year. The financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted, pursuant to SEC regulations. Accordingly, the accompanying Consolidated Financial Statements should be read in conjunction with the financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023. ​ The unaudited information in the Consolidated Financial Statements for the third quarters and three quarters ended November 4, 2023 and November 5, 2022 includes the results of operations of the Company for the 12 and 40 week periods then ended. ​ Fair Value Measurements ​ Fair value measurements are classified and disclosed in one of the following three categories: ​ Level 1 – Quoted prices are available in active markets for identical assets or liabilities; ​ Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable; ​ Level 3 – Unobservable pricing inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing an asset or liability. ​ The Company records cash and temporary cash investments, store deposits in-transit, receivables, prepaid and other current assets, trade accounts payable, accrued salaries and wages and other current liabilities at approximated fair value. Certain other investments and derivatives are recorded as Level 1, 2 or 3 instruments. ​ The fair value of all financial instruments, measured using Level 1 inputs, was $633 and $401 as of November 4, 2023 and January 28, 2023, respectively, and is included in “Other assets” in the Company’s Consolidated Balance Sheets. An unrealized loss for these Level 1 investments of approximately An unrealized loss for these Level 1 investments of approximately $103 and $225 for the ​ The Company's forward-starting interest rate swaps are considered a Level 2 instrument. The Company values interest rate swaps using observable forward yield curves. These forward yield curves are classified as Level 2 inputs. Refer to Note 2 for the disclosure of forward-starting interest rate swap fair values. ​ Refer to Note 2 for the disclosure of debt instrument fair values. ​ Accounts Payable Financing Arrangement ​ The Company has an agreement with a third party to provide an accounts payable tracking system which facilitates participating suppliers’ ability to finance payment obligations from the Company with designated third-party financial institutions. Participating suppliers may, at their sole discretion, make offers to finance one or more payment obligations of the Company prior to their scheduled due dates at a discounted price to participating financial institutions. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not affected by suppliers’ decisions to finance amounts under this arrangement. ​ As of November 4, 2023 and January 28, 2023, the Company had $255 and $249 , respectively, in “Trade accounts payable” in the Company’s Consolidated Balance Sheets associated with financing arrangements. As of November 4, 2023 and January 28, 2023, the Company had ​

DEBT OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
	Nov. 04, 2023
DEBT OBLIGATIONS
DEBT OBLIGATIONS	2. DEBT OBLIGATIONS ​ Long-term debt consists of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 4, ​ January 28, ​ 2023 2023 1.70% to 8.00% Senior Notes due through 2049 ​ $ 9,620 ​ $ 10,215 Other ​ 1,075 ​ 1,077 ​ ​ ​ ​ ​ ​ ​ Total debt, excluding obligations under finance leases ​ 10,695 ​ 11,292 Less current portion ​ (552) ​ (1,153) ​ ​ ​ ​ ​ ​ ​ Total long-term debt, excluding obligations under finance leases ​ $ 10,143 ​ $ 10,139 ​ The fair value of the Company’s long-term debt, including current maturities, was estimated based on the quoted market prices for the same or similar issues adjusted for illiquidity based on available market evidence. If quoted market prices were not available, the fair value was based upon the net present value of the future cash flow using the forward interest rate yield curve in effect at November 4, 2023 and January 28, 2023. At November 4, 2023, the fair value of total debt was . At January 28, 2023, the fair value of total debt was ​ In the first three quarters of 2023, the Company repaid $600 of senior notes bearing an interest rate of 3.85% using cash on hand. ​ In the first three quarters of 2022, the Company repaid $400 of senior notes bearing an interest rate of 2.80% using cash on hand. ​ In the third quarter of 2022, the Company entered into five forward-starting interest rate swap agreements with a maturity date of August 2027 with an aggregate notional amount totaling $5,350 . A forward-starting interest rate swap is an agreement that effectively hedges the variability in future benchmark interest payments attributable to changes in interest rates on the forecasted issuance of fixed-rate debt. The Company entered into these forward-starting interest rate swaps in order to lock in fixed interest rates on its forecasted issuances of debt. A notional amount of of these forward-starting interest rate swaps was designated as cash-flow hedges as defined by GAAP. Accordingly, the changes in fair value of these forward-starting interest rate swaps are recorded to accumulated other comprehensive income and reclassified into net earnings when the hedged transaction affects net earnings. The remainder of the notional amount of ​ As of November 4, 2023 and January 28, 2023, the fair value of the interest rate swaps designated as cash-flow hedges was $295 and $(116) , respectively. As of November 4, 2023 and January 28, 2023, the amount included in “Accumulated other comprehensive income” was , net of tax, respectively. As of November 4, 2023 and January 28, 2023, the fair value of forward-starting interest swaps not designated as cash-flow hedges was , respectively. During the third quarter of 2023, the Company recognized an unrealized gain of related to these swaps that is included in “Gain (loss) on investments” in the Company’s Consolidated Statements of Operations. During the first three quarters of 2023, the Company recognized an unrealized gain of ​ For additional information about the Company’s unsecured bridge loan facility and term loan credit agreement, see Note 10 to the Consolidated Financial Statements.

BENEFIT PLANS

BENEFIT PLANS	9 Months Ended
	Nov. 04, 2023
BENEFIT PLANS
BENEFIT PLANS	3. BENEFIT PLANS ​ The following table provides the components of net periodic benefit cost (benefit) for the company-sponsored defined benefit pension plans and other postretirement benefit plans for the third quarters of 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ ​ Pension Benefits ​ Other Benefits ​ ​ November 4, ​ November 5, ​ November 4, ​ November 5, ​ 2023 2022 2023 2022 Components of net periodic benefit cost (benefit): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost $ 4 $ 2 $ 1 $ 1 ​ Interest cost ​ 29 ​ 23 ​ 3 ​ 1 ​ Expected return on plan assets ​ (35) ​ (35) ​ — ​ — ​ Amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prior service cost ​ — ​ — ​ (3) ​ (3) ​ Actuarial loss (gain) ​ 2 ​ 6 ​ (3) ​ (3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost (benefit) $ — $ (4) $ (2) $ (4) ​ ​ The following table provides the components of net periodic benefit cost (benefit) for the company-sponsored defined benefit pension plans and other post-retirement benefit plans for the first three quarters of 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Quarters Ended ​ ​ Pension Benefits ​ Other Benefits ​ ​ November 4, ​ November 5, ​ November 4, ​ November 5, ​ 2023 2022 2023 2022 Components of net periodic benefit cost (benefit): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost $ 13 $ 7 $ 3 $ 3 ​ Interest cost ​ 98 ​ 77 ​ 6 ​ 4 ​ Expected return on plan assets ​ (115) ​ (118) ​ — ​ — ​ Amortization of: ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ Prior service cost ​ — ​ — ​ (9) ​ (10) ​ Actuarial loss (gain) ​ 6 ​ 20 ​ (10) ​ (11) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost (benefit) $ 2 $ (14) $ (10) $ (14) ​ ​ The Company is not required to make any contributions to its company-sponsored pension plans in 2023 but may make contributions to the extent such contributions are beneficial to the Company. The Company did not make any significant contributions to its company-sponsored pension plans in the first three quarters of 2023 or 2022. ​ The Company contributed $251 and $244 to employee 401(k) retirement savings accounts in the first three quarters of 2023 and 2022, respectively . ​

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	9 Months Ended
	Nov. 04, 2023
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	4. EARNINGS PER COMMON SHARE ​ Net earnings attributable to The Kroger Co. per basic common share equals net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted-average number of common shares outstanding. Net earnings attributable to The Kroger Co. per diluted common share equals net earnings attributable to The Kroger Co. less income allocated to participating securities divided by the weighted-average number of common shares outstanding, after giving effect to dilutive stock options. The following table provides a reconciliation of net earnings attributable to The Kroger Co. and shares used in calculating net earnings attributable to The Kroger Co. per basic common share to those used in calculating net earnings attributable to The Kroger Co. per diluted common share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ Third Quarter Ended ​ ​ ​ November 4, 2023 ​ November 5, 2022 ​ ​ ​ ​ Per ​ ​ ​ Per ​ ​ ​ Earnings ​ Shares ​ Share ​ Earnings ​ Shares ​ Share ​ ​ ​ (Numerator) ​ (Denominator) ​ Amount ​ (Numerator) ​ (Denominator) ​ Amount ​ Net earnings attributable to The Kroger Co. per basic common share ​ $ 641 719 ​ $ 0.89 ​ $ 395 716 ​ $ 0.55 ​ Dilutive effect of stock options ​ ​ ​ 6 ​ ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to The Kroger Co. per diluted common share ​ $ 641 725 ​ $ 0.88 ​ $ 395 724 ​ $ 0.55 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Quarters Ended ​ Three Quarters Ended ​ ​ ​ November 4, 2023 ​ November 5, 2022 ​ ​ ​ ​ ​ Per ​ ​ ​ Per ​ ​ Earnings ​ Shares ​ Share ​ Earnings ​ Shares ​ Share ​ ​ ​ (Numerator) ​ (Denominator) ​ Amount ​ (Numerator) ​ (Denominator) ​ Amount Net earnings attributable to The Kroger Co. per basic common share ​ $ 1,416 718 ​ $ 1.97 ​ $ 1,777 719 ​ $ 2.47 ​ Dilutive effect of stock options ​ ​ ​ 7 ​ ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to The Kroger Co. per diluted common share ​ $ 1,416 725 ​ $ 1.95 ​ $ 1,777 728 ​ $ 2.44 ​ ​ The Company had combined undistributed and distributed earnings to participating securities totaling $5 and $3 in the third quarters of 2023 and 2022, respectively. For the first three quarters of 2023 and 2022, the Company had combined undistributed and distributed earnings to participating securities of $12 and $16, respectively. ​ The Company had options outstanding for approximately 3 million shares and 2 million shares during the third quarters of 2023 and 2022, respectively, that were excluded from the computations of net earnings per diluted common share because their inclusion would have had an anti-dilutive effect on net earnings per share. The Company had options outstanding for approximately 3 million and 2 million shares during each of the first three quarters of 2023 and 2022, respectively, that were excluded from the computations of net earnings per diluted common share because their inclusion would have had an anti-dilutive effect on net earnings per share. ​

LEASES AND LEASE-FINANCED TRANS

LEASES AND LEASE-FINANCED TRANSACTIONS	9 Months Ended
	Nov. 04, 2023
LEASES AND LEASE-FINANCED TRANSACTIONS
LEASES AND LEASE-FINANCED TRANSACTIONS	5. LEASES AND LEASE-FINANCED TRANSACTIONS ​ On May 17, 2018, the Company entered into a Partnership Framework Agreement with Ocado International Holdings Limited and Ocado Group plc (“Ocado”), which has since been amended. Under this agreement, Ocado will partner exclusively with the Company in the U.S., enhancing the Company’s digital and robotics capabilities in its distribution networks. In the first three quarters of 2023, the Company opened additional Kroger Delivery customer fulfillment center in Frederick, Maryland. The Company determined the arrangement with Ocado contains a lease of the robotic equipment used to fulfill customer orders. As a result, the Company establishes a finance lease when each facility begins fulfilling orders to customers. The base term of each lease is at the Company’s sole discretion. The Company elected to combine the lease and non-lease elements in the contract. As a result, the Company will account for all payments to Ocado as lease payments. related to the Company’s agreement with Ocado. related to the Company's agreement with Ocado. As of November 4, 2023 and January 28, 2023, the Company had ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Nov. 04, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	6. COMMITMENTS AND CONTINGENCIES ​ The Company continuously evaluates contingencies based upon the best available evidence. ​ The Company believes that allowances for loss have been provided to the extent necessary and that its assessment of contingencies is reasonable. To the extent that resolution of contingencies results in amounts that vary from the Company’s estimates, future earnings will be charged or credited. ​ The principal contingencies are described below: ​ Insurance ​ Litigation — Various claims and lawsuits arising in the normal course of business, including personal injury, contract disputes, employment discrimination, wage and hour and other regulatory claims are pending against the Company. Some of these suits purport or have been determined to be class actions and/or seek substantial damages. Although it is not possible at this time to evaluate the merits of all of these claims and lawsuits, nor their likelihood of success, the Company is of the belief that any resulting liability will not have a material effect on the Company’s financial position, results of operations, or cash flows. ​ The Company continually evaluates its exposure to loss contingencies arising from pending or threatened litigation and believes it has made provisions where it is reasonably possible to estimate and when an adverse outcome is probable. Nonetheless, assessing and predicting the outcomes of these matters involves substantial uncertainties. Management currently believes that the aggregate range of loss for the Company’s exposure is not material 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 adverse effect on the Company’s financial condition, results of operations, or cash flows. ​ The Company is one of dozens of companies that have been named in various lawsuits alleging that defendants contributed to create a public nuisance through the distribution and dispensing of opioids. ​ On September 8, 2023, the Company announced that it reached an agreement in principle with plaintiffs to settle the majority of opioid claims that have been or could be brought against Kroger by states in which they operate, subdivisions, and Native American tribes. Along with the execution of certain non-monetary conditions that remain under discussion, the Company has agreed to pay up to to cover attorneys’ fees and costs. States, subdivisions, and the Native American tribes will have an opportunity to opt-in to participate in the settlement, and the Company will have full discretion to determine whether there is sufficient participation for the settlement to become effective. If all conditions are satisfied, the settlement would allow for the full resolution of all claims on behalf of participating states, subdivisions and Native American tribes and is not an admission of any wrongdoing or liability. ​ As a result, the Company concluded that the agreement in principle for the settlement of opioid claims was probable, and for which the related loss was reasonably estimable. Accordingly, in the second quarter of 2023, the Company recognized opioid settlement charges of $1,413, $1,113 net of tax, relating to the nationwide opioid settlement framework. This charge is included in “Operating, general and administrative” in the Company’s Consolidated Statement of Operations. ​ The agreement in principle described above includes payments of approximately $1,236 and $177, in equal installments over 11 years and 6 years , respectively. As of November 4, 2023, the Company recorded of the estimated settlement liability in “Other current liabilities” and “Other long-term liabilities,” respectively, in the Company’s Consolidated Balance Sheets. The current portion of the estimated settlement liability is recorded in “Accrued expenses” and the long-term portion of the estimated settlement liability is recorded in “Other” within “Changes in operating assets and liabilities” in the Company’s Consolidated Statement of Cash Flows for the first three quarters of 2023. ​ Because of the conditions remaining to satisfy, the Company cannot predict if the agreement will become effective, and whether unfavorable developments may occur. The amount of the actual loss may differ materially from the accrual estimate recorded as of November 4, 2023. ​ In the first quarter of 2023, the Company recorded a charge of $62 relating to a settlement of opioid litigation claims with the State of West Virginia. The agreed upon settlement framework resolves all opioid lawsuits and claims by the West Virginia Attorney General. ​ The foregoing settlements are not admissions of wrongdoing or liability by the Company and the Company will continue to vigorously defend against any other claims and lawsuits relating to opioids that the settlements do not resolve. ​ Assignments — ​

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Nov. 04, 2023
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	7. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ​ The following table represents the changes in AOCI by component for the first three quarters of 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ ​ ​ ​ ​ Cash Flow ​ Postretirement ​ ​ ​ ​ ​ Hedging ​ Defined Benefit ​ ​ ​ ​ Activities (1) Plans (1) Total (1) Balance at January 29, 2022 ​ $ (47) ​ $ (420) ​ $ (467) OCI before reclassifications (2) ​ ​ 37 ​ ​ 13 ​ 50 Amounts reclassified out of AOCI (3) ​ ​ 6 ​ (1) ​ 5 Net current-period OCI ​ ​ 43 ​ 12 ​ 55 Balance at November 5, 2022 ​ $ (4) ​ $ (408) ​ $ (412) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 28, 2023 ​ $ (129) ​ $ (503) ​ $ (632) OCI before reclassifications (2) ​ 317 ​ — ​ 317 Amounts reclassified out of AOCI (3) ​ 4 ​ ​ (10) ​ (6) Net current-period OCI ​ 321 ​ (10) ​ 311 Balance at November 4, 2023 ​ $ 192 ​ $ (513) ​ $ (321) (1) All amounts are net of tax. (2) Net of tax of $11 for cash flow hedging activities for the first three quarters of 2022. Net of tax of $96 for cash flow hedging activities for the first three quarters of 2023. (3) Net of tax of $1 for cash flow hedging activities for the first three quarters of 2022. Net of tax of $2 for cash flow hedging activities and $(3) for pension and postretirement defined benefit plans for the first three quarters of 2023. ​ The following table represents the items reclassified out of AOCI and the related tax effects for the third quarter and first three quarters of 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ Three Quarters Ended ​ November 4, November 5, November 4, November 5, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Cash flow hedging activity items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of gains and losses on cash flow hedging activities (1) ​ $ 2 ​ $ 2 ​ $ 6 ​ $ 7 ​ Tax expense ​ (1) ​ — ​ (2) ​ (1) ​ Net of tax ​ 1 ​ 2 ​ 4 ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and postretirement defined benefit plan items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of amounts included in net periodic pension cost (2) ​ (4) ​ — (13) (1) ​ Tax expense 1 — 3 — ​ Net of tax (3) — (10) (1) ​ Total reclassifications, net of tax $ (2) $ 2 $ (6) $ 5 ​ (1) Reclassified from AOCI into interest expense. (2) Reclassified from AOCI into non-service component of company-sponsored pension plan costs. These components are included in the computation of net periodic pension cost (see Note 3 for additional details). ​

INCOME TAXES

INCOME TAXES	9 Months Ended
	Nov. 04, 2023
INCOME TAXES
INCOME TAXES	8. INCOME TAXES ​ The effective income tax rate was 23.9% for the third quarter of 2023 and 24.0% for the third quarter of 2022. The effective income tax rate was 24.8% for the first three quarters of 2023 and 21.1% for the first three quarters of 2022. The effective income tax rate for the third quarters of 2023 and 2022 differed from the federal statutory rate due to the effect of state income taxes and certain nondeductible expenses, partially offset by the utilization of tax credits. The effective income tax rate for the first three quarters of 2023 differed from the federal statutory rate due to the effect of state income taxes, the nondeductible portion of opioid settlement charges and certain nondeductible expenses, partially offset by the utilization of tax credits. The effective income tax rate for the first three quarters of 2022 differed from the federal statutory rate due to the effect of state income taxes and certain nondeductible expenses, partially offset by the benefit from share-based payments and the utilization of tax credits. ​

RECENTLY ADOPTED ACCOUNTING STA

RECENTLY ADOPTED ACCOUNTING STANDARDS	9 Months Ended
	Nov. 04, 2023
RECENTLY ADOPTED ACCOUNTING STANDARDS
RECENTLY ADOPTED ACCOUNTING STANDARDS	9. RECENTLY ADOPTED ACCOUNTING STANDARDS ​ In September 2022, the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations For additional information about the Company’s accounts payable finance arrangements, see Note 1 to the Consolidated Financial Statements.

PROPOSED MERGER WITH ALBERTSONS

PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC.	9 Months Ended
	Nov. 04, 2023
PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC.
PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC.	10. PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC. ​ As previously disclosed, on October 13, 2022, the Company entered into a merger agreement with Albertsons Companies, Inc. (“Albertsons”) pursuant to which all of the outstanding shares of Albertsons common and preferred stock (on an as converted basis) automatically will be converted into the right to receive $34.10 per share, subject to certain reductions described below. This price implies a total enterprise value of approximately $24,600 , including the assumption of approximately $4,700 of Albertsons net debt. ​ The per share cash purchase price of $34.10 payable to Albertsons shareholders in the merger would be reduced by an amount equal to $6.85 , which is the per share amount of a special pre-closing cash dividend that was paid on January 20, 2023 to Albertsons shareholders of record as of October 24, 2022. The adjusted per share cash purchase price is expected to be $27.25 . ​ In connection with obtaining the requisite regulatory clearance necessary to consummate the transaction, the Company and Albertsons expect to make store divestitures. Subject to the outcome of the divestiture process and as described in the merger agreement, Albertsons was prepared to establish an Albertsons subsidiary (“SpinCo”). SpinCo would be spun-off to Albertsons shareholders immediately prior to the closing of the merger and operate as a standalone public company. As described in more detail below, on September 8, 2023, the Company and Albertsons announced that they entered into a comprehensive divestiture plan with C&S Wholesale Grocers, LLC (“C&S”). As a result of the comprehensive divestiture plan announced with C&S, the Company has exercised its right under the merger agreement to sell what would have been the SpinCo business to C&S. Consequently, the spin-off previously contemplated by the Company and Albertsons is no longer a requirement under the merger agreement and will no longer be pursued by the Company and Albertsons ​ On September 8, 2023, the Company and Albertsons announced they entered into a definitive agreement with C&S for the sale of 413 stores, as well as the QFC, Mariano’s and Carrs brand names, the exclusive licensing rights to the Albertsons banner in Arizona, California, Colorado and Wyoming, eight distribution centers, two offices and certain other assets in connection with the proposed merger. . All fuel centers and pharmacies associated with the divested stores will remain with the stores and continue to operate. The stores will be divested by the Company following the closing of the proposed merger with Albertsons. The transaction is subject to fulfillment of customary closing conditions, including clearance by the Federal Trade Commission (“FTC”) and the completion of the proposed merger. C&S will pay the Company all-cash consideration of approximately $1,900 , including customary adjustments. Prior to the closing, the Company may, in connection with securing FTC and other governmental clearance, require C&S to purchase up to an additional 237 stores in certain geographies. ​ In connection with the merger agreement, on October 13, 2022, the Company entered into a commitment letter with certain lenders pursuant to which the lenders have committed to provide a $17,400 senior unsecured bridge term loan facility, which, if entered into, would mature 364 days after the closing date of the merger. The commitments are intended to be drawn to finance the merger with Albertsons only to the extent the Company does not arrange for alternative financing prior to closing. As alternative financing for the merger is secured, the commitments with respect to the bridge term loan facility under the commitment letter will be reduced. Upfront fees with respect to the bridge term loan facility are included in “Financing fees paid” in the Company’s Consolidated Statements of Cash Flows and will be recognized as operating, general and administrative expense in the Company’s Consolidated Statements of Operations over the commitment period. ​ On November 9, 2022, the Company executed a term loan credit agreement with certain lenders pursuant to which the lenders committed to provide, contingent upon the completion of the merger with Albertsons and certain other customary conditions to funding, (1) senior unsecured term loans in an aggregate principal amount of $3,000 maturing on the third anniversary of the merger closing date and (2) senior unsecured term loans in an aggregate principal amount of $1,750 maturing on the date that is 18 months after the merger closing date (collectively, the “Term Loan Facilities”). Borrowings under the Term Loan Facilities will be used to pay a portion of the consideration and other amounts payable in connection with the merger with Albertsons. The entry into the term loan credit agreement reduces the commitments under the Company’s $17,400 bridge facility commitment by $4,750 . Borrowings under the Term Loan Facilities will bear interest at rates that vary based on the type of loan and the Company’s debt rating. In addition to the sources of financing described above, the Company expects to finance the transaction with senior notes issuances, borrowings under its commercial paper program, bank credit facility capacity and cash on hand. ​ The agreement provides for certain termination rights for the Company and Albertsons, including if the closing does not occur on or prior to January 13, 2024 (the “Outside Date”), provided that the Outside Date may be extended by either party for up to 270 days in the aggregate. The Company will be obligated to pay a termination fee of $600 if the merger agreement is terminated by either party in connection with the occurrence of the Outside Date, and, at the time of such termination, all closing conditions other than regulatory approval have been satisfied. The transaction is expected to close in early 2024, subject to the receipt of required regulatory clearance and other customary closing conditions

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	9 Months Ended
	Nov. 04, 2023
ACCOUNTING POLICIES
Basis of Presentation and Principles of Consolidation	​ Basis of Presentation and Principles of Consolidation ​ The accompanying financial statements include the consolidated accounts of The Kroger Co., its wholly-owned subsidiaries and other consolidated entities. The January 28, 2023 balance sheet was derived from audited financial statements and, due to its summary nature, does not include all disclosures required by generally accepted accounting principles (“GAAP”). Significant intercompany transactions and balances have been eliminated. References to the “Company” in these Consolidated Financial Statements mean the consolidated company. ​ In the opinion of management, the accompanying unaudited Consolidated Financial Statements include adjustments, all of which are of a normal, recurring nature that are necessary for a fair statement of results of operations for such periods but should not be considered as indicative of results for a full year. The financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted, pursuant to SEC regulations. Accordingly, the accompanying Consolidated Financial Statements should be read in conjunction with the financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023. ​ The unaudited information in the Consolidated Financial Statements for the third quarters and three quarters ended November 4, 2023 and November 5, 2022 includes the results of operations of the Company for the 12 and 40 week periods then ended.
Fair Value Measurements	Fair Value Measurements ​ Fair value measurements are classified and disclosed in one of the following three categories: ​ Level 1 – Quoted prices are available in active markets for identical assets or liabilities; ​ Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable; ​ Level 3 – Unobservable pricing inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing an asset or liability. ​ The Company records cash and temporary cash investments, store deposits in-transit, receivables, prepaid and other current assets, trade accounts payable, accrued salaries and wages and other current liabilities at approximated fair value. Certain other investments and derivatives are recorded as Level 1, 2 or 3 instruments. ​ The fair value of all financial instruments, measured using Level 1 inputs, was $633 and $401 as of November 4, 2023 and January 28, 2023, respectively, and is included in “Other assets” in the Company’s Consolidated Balance Sheets. An unrealized loss for these Level 1 investments of approximately An unrealized loss for these Level 1 investments of approximately $103 and $225 for the ​ The Company's forward-starting interest rate swaps are considered a Level 2 instrument. The Company values interest rate swaps using observable forward yield curves. These forward yield curves are classified as Level 2 inputs. Refer to Note 2 for the disclosure of forward-starting interest rate swap fair values. ​ Refer to Note 2 for the disclosure of debt instrument fair values.
Accounts Payable Financing Arrangement	Accounts Payable Financing Arrangement ​ The Company has an agreement with a third party to provide an accounts payable tracking system which facilitates participating suppliers’ ability to finance payment obligations from the Company with designated third-party financial institutions. Participating suppliers may, at their sole discretion, make offers to finance one or more payment obligations of the Company prior to their scheduled due dates at a discounted price to participating financial institutions. The Company’s obligations to its suppliers, including amounts due and scheduled payment dates, are not affected by suppliers’ decisions to finance amounts under this arrangement. ​ As of November 4, 2023 and January 28, 2023, the Company had $255 and $249 , respectively, in “Trade accounts payable” in the Company’s Consolidated Balance Sheets associated with financing arrangements. As of November 4, 2023 and January 28, 2023, the Company had ​

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	9 Months Ended
	Nov. 04, 2023
DEBT OBLIGATIONS
Schedule of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 4, ​ January 28, ​ 2023 2023 1.70% to 8.00% Senior Notes due through 2049 ​ $ 9,620 ​ $ 10,215 Other ​ 1,075 ​ 1,077 ​ ​ ​ ​ ​ ​ ​ Total debt, excluding obligations under finance leases ​ 10,695 ​ 11,292 Less current portion ​ (552) ​ (1,153) ​ ​ ​ ​ ​ ​ ​ Total long-term debt, excluding obligations under finance leases ​ $ 10,143 ​ $ 10,139 ​

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	9 Months Ended
	Nov. 04, 2023
BENEFIT PLANS
Schedule of components of net periodic benefit cost (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ ​ Pension Benefits ​ Other Benefits ​ ​ November 4, ​ November 5, ​ November 4, ​ November 5, ​ 2023 2022 2023 2022 Components of net periodic benefit cost (benefit): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost $ 4 $ 2 $ 1 $ 1 ​ Interest cost ​ 29 ​ 23 ​ 3 ​ 1 ​ Expected return on plan assets ​ (35) ​ (35) ​ — ​ — ​ Amortization of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prior service cost ​ — ​ — ​ (3) ​ (3) ​ Actuarial loss (gain) ​ 2 ​ 6 ​ (3) ​ (3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost (benefit) $ — $ (4) $ (2) $ (4) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Quarters Ended ​ ​ Pension Benefits ​ Other Benefits ​ ​ November 4, ​ November 5, ​ November 4, ​ November 5, ​ 2023 2022 2023 2022 Components of net periodic benefit cost (benefit): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost $ 13 $ 7 $ 3 $ 3 ​ Interest cost ​ 98 ​ 77 ​ 6 ​ 4 ​ Expected return on plan assets ​ (115) ​ (118) ​ — ​ — ​ Amortization of: ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ Prior service cost ​ — ​ — ​ (9) ​ (10) ​ Actuarial loss (gain) ​ 6 ​ 20 ​ (10) ​ (11) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net periodic benefit cost (benefit) $ 2 $ (14) $ (10) $ (14) ​

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Nov. 04, 2023
EARNINGS PER COMMON SHARE
Schedule of earnings per common and diluted shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ Third Quarter Ended ​ ​ ​ November 4, 2023 ​ November 5, 2022 ​ ​ ​ ​ Per ​ ​ ​ Per ​ ​ ​ Earnings ​ Shares ​ Share ​ Earnings ​ Shares ​ Share ​ ​ ​ (Numerator) ​ (Denominator) ​ Amount ​ (Numerator) ​ (Denominator) ​ Amount ​ Net earnings attributable to The Kroger Co. per basic common share ​ $ 641 719 ​ $ 0.89 ​ $ 395 716 ​ $ 0.55 ​ Dilutive effect of stock options ​ ​ ​ 6 ​ ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to The Kroger Co. per diluted common share ​ $ 641 725 ​ $ 0.88 ​ $ 395 724 ​ $ 0.55 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Quarters Ended ​ Three Quarters Ended ​ ​ ​ November 4, 2023 ​ November 5, 2022 ​ ​ ​ ​ ​ Per ​ ​ ​ Per ​ ​ Earnings ​ Shares ​ Share ​ Earnings ​ Shares ​ Share ​ ​ ​ (Numerator) ​ (Denominator) ​ Amount ​ (Numerator) ​ (Denominator) ​ Amount Net earnings attributable to The Kroger Co. per basic common share ​ $ 1,416 718 ​ $ 1.97 ​ $ 1,777 719 ​ $ 2.47 ​ Dilutive effect of stock options ​ ​ ​ 7 ​ ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net earnings attributable to The Kroger Co. per diluted common share ​ $ 1,416 725 ​ $ 1.95 ​ $ 1,777 728 ​ $ 2.44 ​ ​

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Nov. 04, 2023
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS).
Schedule of changes in AOCI by component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and ​ ​ ​ ​ ​ Cash Flow ​ Postretirement ​ ​ ​ ​ ​ Hedging ​ Defined Benefit ​ ​ ​ ​ Activities (1) Plans (1) Total (1) Balance at January 29, 2022 ​ $ (47) ​ $ (420) ​ $ (467) OCI before reclassifications (2) ​ ​ 37 ​ ​ 13 ​ 50 Amounts reclassified out of AOCI (3) ​ ​ 6 ​ (1) ​ 5 Net current-period OCI ​ ​ 43 ​ 12 ​ 55 Balance at November 5, 2022 ​ $ (4) ​ $ (408) ​ $ (412) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at January 28, 2023 ​ $ (129) ​ $ (503) ​ $ (632) OCI before reclassifications (2) ​ 317 ​ — ​ 317 Amounts reclassified out of AOCI (3) ​ 4 ​ ​ (10) ​ (6) Net current-period OCI ​ 321 ​ (10) ​ 311 Balance at November 4, 2023 ​ $ 192 ​ $ (513) ​ $ (321) (1) All amounts are net of tax. (2) Net of tax of $11 for cash flow hedging activities for the first three quarters of 2022. Net of tax of $96 for cash flow hedging activities for the first three quarters of 2023. (3) Net of tax of $1 for cash flow hedging activities for the first three quarters of 2022. Net of tax of $2 for cash flow hedging activities and $(3) for pension and postretirement defined benefit plans for the first three quarters of 2023. ​
Schedule of items reclassified out of AOCI and the related tax effects	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Third Quarter Ended ​ Three Quarters Ended ​ November 4, November 5, November 4, November 5, ​ ​ 2023 ​ 2022 ​ 2023 ​ 2022 ​ Cash flow hedging activity items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of gains and losses on cash flow hedging activities (1) ​ $ 2 ​ $ 2 ​ $ 6 ​ $ 7 ​ Tax expense ​ (1) ​ — ​ (2) ​ (1) ​ Net of tax ​ 1 ​ 2 ​ 4 ​ 6 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension and postretirement defined benefit plan items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of amounts included in net periodic pension cost (2) ​ (4) ​ — (13) (1) ​ Tax expense 1 — 3 — ​ Net of tax (3) — (10) (1) ​ Total reclassifications, net of tax $ (2) $ 2 $ (6) $ 5 ​ (1) Reclassified from AOCI into interest expense. (2) Reclassified from AOCI into non-service component of company-sponsored pension plan costs. These components are included in the computation of net periodic pension cost (see Note 3 for additional details).

ACCOUNTING POLICIES - DESCRIPTI

ACCOUNTING POLICIES - DESCRIPTION OF BUSINESS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022	Jan. 28, 2023
Description of Business, Basis of Presentation and Principles of Consolidation
Accounts payable financing arrangement			90 days
(Gain) loss on investments	$ (26)	$ 207	$ (317)	$ 637
Fiscal Year
Length of fiscal period	84 days	84 days	280 days	280 days
Quoted Prices in Active Markets for Identical Assets (Level 1)
Description of Business, Basis of Presentation and Principles of Consolidation
(Gain) loss on investments	$ 103	$ 225	$ 12	$ 655
Other assets | Quoted Prices in Active Markets for Identical Assets (Level 1)
Description of Business, Basis of Presentation and Principles of Consolidation
Fair value of equity securities	633		633		$ 401
Trade accounts payable
Description of Business, Basis of Presentation and Principles of Consolidation
Accounts payable financing arrangements	255		255		249
Other current liabilities
Description of Business, Basis of Presentation and Principles of Consolidation
Accounts payable financing arrangements	$ 71		$ 71		$ 65

DEBT OBLIGATIONS - NARRATIVE (D

DEBT OBLIGATIONS - NARRATIVE (Details) $ in Millions	3 Months Ended	9 Months Ended
	Nov. 04, 2023 USD ($)	Nov. 04, 2023 USD ($)	Nov. 05, 2022 USD ($) DerivativeInstrument	Jan. 28, 2023 USD ($)
Debt
Total debt, excluding obligations under finance leases	$ 10,695	$ 10,695		$ 11,292
Less current portion	(552)	(552)		(1,153)
Total long-term debt, excluding obligations under finance leases	10,143	10,143		10,139
Fair value of total debt	9,548	9,548		10,593
Senior notes due through 2049
Debt
Total debt, excluding obligations under finance leases	$ 9,620	$ 9,620		10,215
Senior notes due through 2049 | Minimum
Debt
Interest rate (as a percent)	1.70%	1.70%
Senior notes due through 2049 | Maximum
Debt
Interest rate (as a percent)	8%	8%
Senior notes 2.80% due 2022
Debt
Repayment of debt			$ 400
Interest rate (as a percent)			2.80%
Senior notes 3.85% due 2023
Debt
Repayment of debt		$ 600
Interest rate (as a percent)	3.85%	3.85%
Other.
Debt
Total debt, excluding obligations under finance leases	$ 1,075	$ 1,075		1,077
Interest rate swaps
Debt
Number of interest rate derivatives | DerivativeInstrument			5
Notional amount			$ 5,350
Interest rate swaps | Not Designated
Debt
Notional amount			3,000
Fair value of derivative Asset not recognized as hedge	187	187
Fair value of derivative liability not recognized as hedge				(142)
Unrealized gain	129	329
Interest rate swaps | Cash flow hedges | Designated
Debt
Notional amount			$ 2,350
Fair value of derivative hedges	295	295		(116)
AOCI, net of tax	$ 226	$ 226		$ (89)

BENEFIT PLANS - COMPONENTS OF N

BENEFIT PLANS - COMPONENTS OF NET PERIODIC BENEFIT COSTS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
Pension Benefits
Components of net periodic benefit cost (benefit):
Service cost	$ 4	$ 2	$ 13	$ 7
Interest cost	29	23	98	77
Expected return on plan assets	(35)	(35)	(115)	(118)
Amortization of:
Actuarial loss (gain)	2	6	6	20
Net periodic benefit cost (benefit)		(4)	2	(14)
Other Benefits
Components of net periodic benefit cost (benefit):
Service cost	1	1	3	3
Interest cost	3	1	6	4
Amortization of:
Prior service cost	(3)	(3)	(9)	(10)
Actuarial loss (gain)	(3)	(3)	(10)	(11)
Net periodic benefit cost (benefit)	$ (2)	$ (4)	$ (10)	$ (14)

BENEFIT PLANS - DEFINED CONTRIB

BENEFIT PLANS - DEFINED CONTRIBUTION PLAN INFORMATION (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022
BENEFIT PLANS
Contribution to 401(k) retirement savings accounts	$ 251	$ 244

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
EARNINGS PER COMMON SHARE
Net earnings numerator (basic)	$ 641	$ 395	$ 1,416	$ 1,777
Net earnings numerator (diluted)	$ 641	$ 395	$ 1,416	$ 1,777
Average number of common shares used in basic calculation	719	716	718	719
Net earnings attributable to The Kroger Co. per basic common share	$ 0.89	$ 0.55	$ 1.97	$ 2.47
Dilutive effect of stock options (in shares)	6	8	7	9
Average number of common shares used in diluted calculation	725	724	725	728
Net earnings attributable to The Kroger Co. per diluted common share	$ 0.88	$ 0.55	$ 1.95	$ 2.44
Undistributed and distributed earnings (loss) to participating securities	$ 5	$ 3	$ 12	$ 16
Shares excluded from the earnings (loss) per share calculation due to anti-dilutive effect on earnings per share	3	2	3	2

LEASES AND LEASE-FINANCED TRA_2

LEASES AND LEASE-FINANCED TRANSACTIONS - NARRATIVE (Details) - Digital and Robotic Facilities $ in Millions	9 Months Ended
	Nov. 04, 2023 USD ($) facility	Jan. 28, 2023 USD ($)
LEASES AND LEASE-FINANCED TRANSACTIONS
Number of additional fulfillment centers | facility	1
Term - Finance	10 years
Option to renew - Finance	true
Finance lease assets recorded	$ 148
Finance lease liability recorded	130
Finance lease assets	963	$ 928
Current - Finance	98	88
Noncurrent - Finance	$ 816	$ 785

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Opioid Litigation [Member] - Settled litigation - USD ($) $ in Millions		3 Months Ended	4 Months Ended
	Sep. 08, 2023	Aug. 12, 2023	May 20, 2023	Nov. 04, 2023
Commitment and Contingencies
Litigation settlement amount awarded to other party	$ 1,236
Litigation settlement amount awarded to other party for attorney fees	$ 177
Litigation settlement expense		$ 1,413
Litigation settlement expense, net		$ 1,113
Settlement payments, installments term	11 years
Payable for attorney's fees and cost, installments term	6 years
West Virginia
Commitment and Contingencies
Litigation settlement expense			$ 62
Other current liabilities
Commitment and Contingencies
Settlement amount payable to other party, including attorney fees				$ 142
Other long-term liabilities
Commitment and Contingencies
Settlement amount payable to other party, including attorney fees				$ 1,271
State and subdivision
Commitment and Contingencies
Litigation settlement amount awarded to other party	$ 1,200
Native American tribes
Commitment and Contingencies
Litigation settlement amount awarded to other party	$ 36

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - CHANGES IN AOCI BY COMPONENT (Details) - USD ($) $ in Millions	3 Months Ended					4 Months Ended		9 Months Ended
	Nov. 04, 2023	Aug. 12, 2023	Jan. 28, 2023	Nov. 05, 2022	Aug. 13, 2022	May 20, 2023	May 21, 2022	Nov. 04, 2023	Nov. 05, 2022
Accumulated other comprehensive income (loss)
Balance at the beginning of the period						$ 10,042		$ 10,042
Amounts reclassified out of AOCI(3)	$ (2)			$ 2				(6)	$ 5
Net current-period OCI	119	$ 104	$ (220)	52	$ 1	88	$ 2	311	55
Balance at the end of the period	11,209		10,042					11,209
Accumulated Other Comprehensive Loss
Accumulated other comprehensive income (loss)
Balance at the beginning of the period			(412)			(632)	(467)	(632)	(467)
OCI before reclassifications(2)								317	50
Amounts reclassified out of AOCI(3)								(6)	5
Net current-period OCI	119	$ 104	(220)	52	$ 1	88	2	311	55
Balance at the end of the period	(321)		(632)	(412)				(321)	(412)
Cash Flow Hedging Activities
Accumulated other comprehensive income (loss)
Balance at the beginning of the period			(4)			(129)	(47)	(129)	(47)
OCI before reclassifications(2)								317	37
Amounts reclassified out of AOCI(3)								4	6
Net current-period OCI								321	43
Balance at the end of the period	192		(129)	(4)				192	(4)
OCI before reclassifications, tax								96	11
Amounts reclassified out of AOCI, tax								2	1
Pension and Postretirement Defined Benefit Plans
Accumulated other comprehensive income (loss)
Balance at the beginning of the period			(408)			$ (503)	$ (420)	(503)	(420)
OCI before reclassifications(2)									13
Amounts reclassified out of AOCI(3)	(3)							(10)	(1)
Net current-period OCI								(10)	12
Balance at the end of the period	(513)		$ (503)	$ (408)				(513)	$ (408)
Amounts reclassified out of AOCI, tax	$ (1)							$ (3)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - ITEMS RECLASSIFIED OUT OF AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
Reclassification out of AOCI and the related tax effects
Amortization of gains and losses on cash flow hedging activities(1)	$ 94	$ 119	$ 341	$ 422
Tax expense	204	126	472	481
Net of tax	(646)	(398)	(1,428)	(1,793)
Total reclassifications, net of tax	(2)	2	(6)	5
Cash Flow Hedging Activities
Reclassification out of AOCI and the related tax effects
Tax expense			(2)	(1)
Total reclassifications, net of tax			4	6
Pension and Postretirement Defined Benefit Plans
Reclassification out of AOCI and the related tax effects
Amortization of amounts included in net periodic pension cost	(4)		(13)	(1)
Tax expense	1		3
Total reclassifications, net of tax	(3)		(10)	(1)
Reclassification out of AOCI | Cash Flow Hedging Activities
Reclassification out of AOCI and the related tax effects
Amortization of gains and losses on cash flow hedging activities(1)	2	2	6	7
Tax expense	(1)		(2)	(1)
Net of tax	$ 1	$ 2	$ 4	$ 6

INCOME TAXES - EFFECTIVE INCOME

INCOME TAXES - EFFECTIVE INCOME TAX RATE (Details)	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
INCOME TAXES
Effective income tax rate (as a percent)	23.90%	24%	24.80%	21.10%

PROPOSED MERGER WITH ALBERTSO_2

PROPOSED MERGER WITH ALBERTSONS COMPANIES, INC. (Details) $ / shares in Units, $ in Millions	Nov. 09, 2022 USD ($)	Oct. 13, 2022 USD ($) $ / shares	Sep. 08, 2023 USD ($) store Center Office
Disposed by Sale | Disposal of stores, distribution, office and private label brands | C&S wholesale grocers, LLC
Business Acquisition [Line Items]
Disposal group, including discontinued operation, number of stores to be sold | store			413
Disposal group, including discontinued operation, number of distribution centers to be sold | Center			8
Disposal group, including discontinued operation, number of offices to be sold | Office			2
Consideration for sale			$ 1,900
Disposal group, including discontinued operation, maximum number of additional stores to be sold | store			237
Albertsons
Business Acquisition [Line Items]
Conversion share price | $ / shares		$ 34.10
Total enterprise value		$ 24,600
Assumption of debt		$ 4,700
Special cash dividend payable | $ / shares		$ 6.85
Expected adjusted cash purchase price | $ / shares		$ 27.25
Termination fee if merger agreement is terminated		$ 600
Albertsons | Senior unsecured bridge term loan facility
Business Acquisition [Line Items]
Debt term		364 days
Maximum borrowing capacity		$ 17,400
Reduction in facility amount	$ 4,750
Albertsons | Senior unsecured term loan facility | Maturing on the third anniversary of the merger closing date
Business Acquisition [Line Items]
Debt face amount	3,000
Albertsons | Senior unsecured term loan facility | Maturing on the date that is 18 months after the merger closing date
Business Acquisition [Line Items]
Debt face amount	$ 1,750
Albertsons | Maximum
Business Acquisition [Line Items]
Number of days extension for agreement termination		270 days

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 04, 2023	Nov. 05, 2022	Nov. 04, 2023	Nov. 05, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 646	$ 398	$ 1,428	$ 1,793

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 04, 2023
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