New Rite Aid (RADCQ) 10-Q 6 Jul 22 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 28, 2022	Jun. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 28, 2022
Current Fiscal Year End Date	--03-04
Entity File Number	1-5742
Entity Registrant Name	RITE AID CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	23-1614034
Entity Address, Address Line One	30 Hunter Lane
Entity Address, City or Town	Camp Hill
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17011
City Area Code	717
Local Phone Number	761-2633
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	RAD
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		55,626,790
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000084129
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 28, 2022	Feb. 26, 2022
Current assets:
Cash and cash equivalents	$ 56,060	$ 39,721
Accounts receivable, net	1,449,745	1,343,496
Inventories, net of LIFO reserve of $487,173 and $487,173	1,974,759	1,959,389
Prepaid expenses and other current assets	88,860	106,749
Total current assets	3,569,424	3,449,355
Property, plant and equipment, net	985,121	989,167
Operating lease right-of-use assets	2,723,405	2,813,535
Goodwill	879,136	879,136
Other intangibles, net	282,950	291,196
Deferred tax assets	20,071	20,071
Other assets	89,666	86,543
Total assets	8,549,773	8,529,003
Current liabilities:
Current maturities of long-term debt and lease financing obligations	5,016	5,544
Accounts payable	1,461,238	1,571,261
Accrued salaries, wages and other current liabilities	787,591	780,632
Current portion of operating lease liabilities	574,392	575,651
Total current liabilities	2,828,237	2,933,088
Long-term debt, less current maturities	3,026,456	2,732,986
Long-term operating lease liabilities	2,526,607	2,597,090
Lease financing obligations, less current maturities	14,392	14,830
Other noncurrent liabilities	162,457	151,976
Total liabilities	8,558,149	8,429,970
Commitments and contingencies
Stockholders' equity:
Common stock, par value $1 per share; 75,000 shares authorized; shares issued and outstanding 55,623 and 55,752	55,623	55,752
Additional paid-in capital	5,913,210	5,910,299
Accumulated deficit	(5,961,772)	(5,851,581)
Accumulated other comprehensive loss	(15,437)	(15,437)
Total stockholders' equity	(8,376)	99,033
Total liabilities and stockholders' equity	$ 8,549,773	$ 8,529,003

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	May 28, 2022	Feb. 26, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Inventory, LIFO Reserve	$ 487,173	$ 487,173
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	75,000	75,000
Common stock, shares issued	55,623	55,752
Common stock, shares outstanding	55,623	55,752

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 6,014,583	$ 6,160,985
Costs and expenses:
Cost of revenues	4,817,854	4,876,110
Selling, general and administrative expenses	1,217,929	1,245,362
Facility exit and impairment charges	66,571	8,831
Interest expense	48,119	49,121
Loss on debt retirements, net		396
Gain on sale of assets, net	(29,196)	(6,558)
Total costs and expenses	6,121,277	6,173,262
Loss before income taxes	(106,694)	(12,277)
Income tax expense	3,497	780
Net loss	(110,191)	(13,057)
Net loss	(110,191)	(13,057)
Computation of loss attributable to common stockholders:
Net loss attributable to common stockholders - basic	(110,191)	(13,057)
Net loss attributable to common stockholders - diluted	$ (110,191)	$ (13,057)
Basic loss per share:
Basic loss per share	$ (2.03)	$ (0.24)
Diluted loss per share:
Diluted loss per share	$ (2.03)	$ (0.24)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS $ in Thousands	3 Months Ended
	May 29, 2021 USD ($)
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (13,057)
Defined benefit pension plans:
Amortization of net actuarial losses included in net periodic pension cost, net of $0 and $0 income tax expense	123
Change in fair value of interest rate cap	27
Total other comprehensive income	150
Comprehensive loss	$ (12,907)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Amortization of net actuarial losses included in net periodic pension cost, income tax expense	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss)	Total
Balance - beginning of period at Feb. 27, 2021	$ 55,143	$ 5,897,168	$ (5,313,103)	$ (24,054)	$ 615,154
BALANCE (in shares) at Feb. 27, 2021	55,143
Increase (Decrease) in Stockholders' Deficit
Net loss			(13,057)		(13,057)
Other comprehensive loss:
Changes in Defined Benefit Plans, net of $0 tax expense				123	123
Change in fair value of interest rate cap				27	27
Comprehensive loss					(12,907)
Exchange of restricted shares for taxes	$ (2)	(33)			(35)
Exchange of restricted shares for taxes (in shares)	(2)
Cancellation of restricted stock	$ (48)	48
Cancellation of restricted stock (in shares)	(48)
Amortization of restricted stock balance		1,618			1,618
Stock-based compensation expense		150			150
Balance - end of period at May. 29, 2021	$ 55,093	5,898,951	(5,326,160)	(23,904)	603,980
BALANCE (in shares) at May. 29, 2021	55,093
Balance - beginning of period at Feb. 26, 2022	$ 55,752	5,910,299	(5,851,581)	(15,437)	99,033
BALANCE (in shares) at Feb. 26, 2022	55,752
Increase (Decrease) in Stockholders' Deficit
Net loss			(110,191)		(110,191)
Other comprehensive loss:
Comprehensive loss					(110,191)
Issuance of restricted stock	$ 61	(61)
Issuance of restricted stock (in shares)	61
Exchange of restricted shares for taxes	$ (63)	(490)			(553)
Exchange of restricted shares for taxes (in shares)	(63)
Cancellation of restricted stock	$ (127)	127
Cancellation of restricted stock (in shares)	(127)
Amortization of restricted stock balance		3,324			3,324
Stock-based compensation expense		201			201
Amortization of performance-based incentive plans		(190)			(190)
Balance - end of period at May. 28, 2022	$ 55,623	$ 5,913,210	$ (5,961,772)	$ (15,437)	$ (8,376)
BALANCE (in shares) at May. 28, 2022	55,623

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Changes in defined benefit plans, tax expense	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Operating activities:
Net loss	$ (110,191)	$ (13,057)
Net loss from continuing operations	(110,191)	(13,057)
Adjustments to reconcile to net cash (used in) provided by operating activities:
Depreciation and amortization	70,073	75,859
Facility exit and impairment charges	66,571	8,831
LIFO credit		(3,993)
Gain on sale of assets, net	(29,196)	(6,558)
Change in allowances for uncollectible accounts receivable	3,763
Stock-based compensation expense	3,334	2,811
Loss on debt retirements, net		396
Changes in operating assets and liabilities:
Accounts receivable	(104,458)	(149,487)
Inventories	(15,827)	11,918
Accounts payable	(137,572)	50,527
Operating lease right-of-use assets and operating lease liabilities	(14,812)	(5,909)
Other assets	751	7,978
Other liabilities	15,327	34,559
Net cash (used in) provided by operating activities	(252,237)	13,875
Investing activities:
Payments for property, plant and equipment	(73,176)	(59,164)
Intangible assets acquired	(12,248)	(5,436)
Proceeds from dispositions of assets and investments	30,839	2,448
Proceeds from sale-leaseback transactions		7,456
Net cash used in investing activities	(54,585)	(54,696)
Financing activities:
Net proceeds from revolver	291,000	39,000
Principal payments on long-term debt	(977)	(91,941)
Change in zero balance cash accounts	33,691	51,957
Financing fees paid for early debt redemption		(2)
Payments for taxes related to net share settlement of equity awards	(553)	(35)
Deferred financing costs paid		(580)
Net cash provided by (used in) financing activities	323,161	(1,601)
Increase (decrease) in cash and cash equivalents	16,339	(42,422)
Cash and cash equivalents, beginning of period	39,721	160,902
Cash and cash equivalents, end of period	$ 56,060	$ 118,480

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	May 28, 2022
Basis of Presentation and Significant Accounting Policies
Basis of Presentation and Significant Accounting Policies	1. Basis of Presentation and Significant Accounting Policies ​ The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. The accompanying financial information reflects all adjustments which are of a recurring nature and, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the thirteen week period ended May 28, 2022 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Rite Aid Corporation (“Rite Aid”) and Subsidiaries (together with Rite Aid, the “Company”) Fiscal 2022 10-K. ​ Revenue Recognition ​ The following table disaggregates the Company’s revenue by major source in each segment for the thirteen week periods ended May 28, 2022 and May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ May 28, May 29, ​ 2022 ​ 2021 In thousands (13 Weeks) (13 weeks) Retail Pharmacy segment: ​ ​ Pharmacy sales $ 3,053,449 ​ $ 2,997,044 Front-end sales 1,261,206 ​ 1,321,699 Other revenue 30,701 ​ 32,939 Total Retail Pharmacy segment ​ 4,345,356 ​ ​ 4,351,682 Pharmacy Services segment 1,725,857 ​ 1,872,282 Intersegment elimination (56,630) ​ (62,979) Total revenue $ 6,014,583 ​ $ 6,160,985 ​ The Retail Pharmacy segment offered a chain-wide loyalty card program titled wellness+. Individual customers were able to become members of the wellness+ program. Members participating in the wellness+ loyalty card program earned points on a calendar year basis for eligible front-end merchandise purchases and qualifying prescription purchases. The wellness+ program was terminated as of July 1, 2020, with benefits earned as of that date available to be used through the end of calendar 2020. Beginning in December 2020, the Company granted temporary extensions of benefits to certain previous members that were eligible for a discount as of the end of each previous 6 month period such that those prior members were eligible to continue to receive that discount on purchases made through the subsequent 6 months with no additional purchase requirement. New and existing customers who were not already eligible for program benefits also had the opportunity to earn additional discounts on purchases made through each 6 month period. A final extension was granted on December 31, 2021 through February 26, 2022 at which point all discounts were terminated. ​ A new loyalty program, Rite Aid Rewards, was initiated on February 27, 2022. Customers that enroll in the new program earn points for each dollar spent on front of store purchases as well as for eligible pharmacy prescriptions. Points can then be converted into a “Rite Aid Rewards” coupon that can be tendered as payment in a future purchase. Each point is worth $0.002. Customers must accumulate 1,000 points and create an online account in order to convert earned points to a “Rite Aid Rewards” coupon. Unused/unconverted points expire after 90 days . Unredeemed “Rite Aid Rewards” coupons expire 30 days after conversion from points earned. ​ Points earned pursuant to the Rite Aid Rewards program represent a performance obligation. The value of unredeemed Rite Aid Rewards points is deferred as a contract liability (included in other current liabilities). As members redeem points in the form of a Rite Aid Rewards coupon or when points or unredeemed Rite Aid Rewards coupons expire, the Retail Pharmacy segment recognizes the redeemed/expired portion of the deferred contract liability into revenue. For the thirteen week period ended May 28, 2022, the Company recognized $713 of deferred contract liability into revenue. The Retail Pharmacy segment had accrued contract liabilities of $5,577 and $0 as of May 28, 2022 and February 26, 2022, respectively. ​ Recently Adopted Accounting Pronouncements ​ In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740)

Acquisition

Acquisition	3 Months Ended
	May 28, 2022
Acquisition
Acquisition	2. Acquisition ​ On December 18, 2020, pursuant to that certain stock purchase agreement, dated as of October 7, 2020, by and between the Company and Bartell Drug Company (“Bartell”), the Company acquired Bartell (the “Acquisition”), a Washington corporation, for approximately $89,724 in cash, subject to certain customary post-closing working capital adjustments. The Company financed the Acquisition with borrowings under its Senior Secured Revolving Credit Facility together with cash on hand. Bartell operated 67 retail drug stores and one distribution center in the greater Seattle, Washington area. Bartell operates as a 100 percent owned subsidiary of the Company within its Retail Pharmacy segment. ​ The Company’s condensed consolidated financial statements for the thirteen week periods ended May 28, 2022 and May 29, 2021 include Bartell’s results of operations. The Company’s condensed consolidated financial statements reflect the final purchase accounting adjustments in accordance with ASC 805 “Business Combinations”, whereby the purchase price was allocated to the assets acquired and liabilities assumed based upon their estimated fair values on the Acquisition date. ​ The following allocation of the purchase price and the estimated transaction costs is final: ​ ​ ​ ​ Final purchase price ​ Cash consideration $ 89,724 Total 89,724 Final purchase price allocation ​ ​ Cash and cash equivalents $ 3,494 Accounts receivable 23,860 Inventories ​ 67,745 Prepaid expenses and other current assets ​ 1,857 Total current assets ​ 96,956 Property and equipment ​ 28,229 Operating lease right-of-use assets ​ 143,651 Intangible assets(1) ​ 68,700 Other assets ​ 1,805 Total assets acquired ​ 339,341 Accounts payable ​ 24,166 Accrued salaries, wages and other current liabilities ​ 20,335 Current portion of operating lease liabilities ​ 24,617 Total current liabilities ​ 69,118 Long-term operating lease liabilities ​ 124,023 Other long-term liabilities ​ 166 Total liabilities assumed ​ 193,307 Deferred tax liabilities recorded on purchase ​ 13,951 Net assets acquired ​ 132,083 Bargain purchase gain ​ (42,359) Total purchase price $ 89,724 (1) Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes a final valuation prepared by an independent third party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s final estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the Company and other market participants, projected customer attrition rates, as well as applicable royalty rates for comparable assets. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows. The estimated fair value of intangible assets and related useful lives as included in the final purchase price allocation include: ​ ​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Estimated Useful Life (In Years) Prescription files $ 54,300 ​ 10 Tradename 14,400 ​ Indefinite Total $ 68,700 ​ ​ ​ During the thirteen week period ended February 27, 2021, the Company recorded a gain on Bartell acquisition of $47,705 primarily due to fair value adjustments related to prescription files and the tradename compared to book values. During the thirteen week period ended November 27, 2021, in connection with determining its final purchase price allocation, the Company recorded a loss on Bartell acquisition of $5,346 primarily due to contract termination charges, inventory valuation adjustments and changes in deferred income taxes, resulting in a net bargain purchase gain of $42,359. The Company believes that the bargain purchase gain was primarily the result of the decision by the Bartell stockholders to sell their interests as Bartell had been experiencing increasing borrowings under its credit agreements to meet its operating needs and increasing net losses. The agreed upon purchase price reflected the fact the seller would have needed to incur further significant debt to cover the operating costs of Bartell, which would have required amendments to its credit arrangements. With the Company’s existing infrastructure, scale and expertise, the Company believes that it has access to the necessary synergies to allow necessary operational improvements to be implemented more efficiently than the seller was capable of. ​ During the thirteen week periods ended May 28, 2022 and May 29, 2021, acquisition costs of $0 and $3,886 were expensed as incurred.

Restructuring

Restructuring	3 Months Ended
	May 28, 2022
Restructuring
Restructuring	3. Restructuring ​ Beginning in fiscal 2019, the Company initiated a series of restructuring plans designed to reorganize its executive management team, reduce managerial layers, and consolidate roles. In March 2020, the Company announced the details of its RxEvolution strategy, which includes building tools to work with regional health plans to improve patient health outcomes, rationalizing SKU’s in its front-end offering to free up working capital and update its merchandise assortment, assessing its pricing and promotional strategy, rebranding its retail pharmacy and pharmacy services business, launching its Store of the Future format and further reducing SG&A and headcount, including integrating certain back office functions in the Pharmacy Services segment both within the segment and across Rite Aid. Other strategic initiatives include the expansion of the Company’s digital business, replacing and updating the Company’s financial systems to improve efficiency, and movement to a common client platform at Elixir. In April 2022, the Company announced further strategic initiatives to reduce costs through the closure of unprofitable stores, reducing corporate administration expenses and improving efficiencies in worked payroll and other store labor costs as well as expense reductions at the Pharmacy Services segment. These and future restructuring activities are expected to provide future growth and expense efficiency benefits. There can be no assurance that the Company’s current and future restructuring charges will achieve the cost savings and remerchandising benefits in the amounts or time anticipated. ​ ​ For the thirteen week period ended May 28, 2022, the Company incurred total restructuring-related costs of $22,646, which are included as a component of SG&A. These costs are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ segment Services segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 11,288 $ 616 $ 11,904 Professional and other fees relating to restructuring activities (b) ​ 6,083 ​ 4,659 ​ 10,742 Total restructuring-related costs $ 17,371 $ 5,275 $ 22,646 ​ For the thirteen week period ended May 29, 2021, the Company incurred total restructuring-related costs of $5,932, which are included as a component of SG&A. These costs are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ segment Services segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ — $ 506 $ 506 Professional and other fees relating to restructuring activities (b) ​ 1,621 ​ 3,805 ​ 5,426 Total restructuring-related costs $ 1,621 $ 4,311 $ 5,932 ​ ​ A summary of activity for the thirteen week period ended May 28, 2022 in the restructuring-related liabilities associated with the programs noted above, which is included in accrued salaries, wages and other current liabilities, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related ​ Professional and ​ ​ ​ ​ costs (a) other fees (b) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 26, 2022 $ 4,257 $ 4,463 $ 8,720 Additions charged to expense ​ ​ 11,904 ​ ​ 10,742 ​ ​ 22,646 Cash payments ​ ​ (5,231) ​ ​ (11,727) ​ ​ (16,958) Balance at May 28, 2022 $ 10,930 $ 3,478 $ 14,408 (a) – Severance and related costs reflect severance accruals, executive search fees, outplacement services and other similar charges associated with ongoing reorganization efforts. (b) – Professional and other fees include costs incurred in connection with the identification and implementation of initiatives associated with restructuring activities. ​ The Company anticipates incurring approximately $60,000 during fiscal 2023 in connection with its continued restructuring activities.

Income (Loss) Per Share

Income (Loss) Per Share	3 Months Ended
	May 28, 2022
Income (Loss) Per Share
Income (Loss) Per Share	4. Income (Loss) Per Share ​ Basic income (loss) per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income of the Company, subject to anti-dilution limitations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 ​ Basic and diluted loss per share: ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders— basic and diluted ​ $ (110,191) ​ $ (13,057) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares ​ 54,348 ​ 53,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per share ​ $ (2.03) ​ $ (0.24) ​ ​ Due to their antidilutive effect, 700 and 773 potential shares related to stock options have been excluded from the computation of diluted income (loss) per share for the thirteen week periods ended May 28, 2022 and May 29, 2021, respectively. Also, excluded from the computation of diluted income (loss) per share for the thirteen week periods ended May 28, 2022 and May 29, 2021 are restricted shares of 1,247 and 1,240, respectively, which are included in shares outstanding.

Facility Exit and Impairment Ch

Facility Exit and Impairment Charges	3 Months Ended
	May 28, 2022
Facility Exit and Impairment Charges
Facility Exit and Impairment Charges	5. Facility Exit and Impairment Charges ​ Facility exit and impairment charges consist of amounts as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ Ended ​ ​ May 28, May 29, ​ 2022 2021 Impairment charges ​ $ 35,036 $ 4,313 Facility exit charges ​ 31,535 ​ 4,518 ​ ​ $ 66,571 $ 8,831 ​ Impairment Charges ​ These amounts include the write-down of long-lived assets at locations that were assessed for impairment because of management’s intention to relocate or close the location or because of changes in circumstances that indicated the carrying value of an asset may not be recoverable. ​ The Company utilizes the three-level valuation hierarchy for the recognition and disclosure of fair value measurements. The categorization of assets and liabilities within this hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy consist of the following: ​ ● Level 1—Inputs to the valuation methodology are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. ​ ● Level 2—Inputs to the valuation methodology are quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active or inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the instrument. ​ ● Level 3—Inputs to the valuation methodology are unobservable inputs based upon management’s best estimate of inputs market participants could use in pricing the asset or liability at the measurement date, including assumptions about risk. ​ Non-Financial Assets Measured on a Non-Recurring Basis ​ Long-lived non-financial assets are measured at fair value on a nonrecurring basis for purposes of calculating impairment using Level 2 and Level 3 inputs as defined in the fair value hierarchy. The fair value of long-lived assets using Level 2 inputs is determined by evaluating the current economic conditions in the geographic area for similar use assets. The fair value of long-lived assets using Level 3 inputs is determined by estimating the amount and timing of net future cash flows (which are unobservable inputs) and discounting them using a risk-adjusted rate of interest (which is Level 1). The Company estimates future cash flows based on its experience and knowledge of the market in which the store is located. Significant increases or decreases in actual cash flows may result in valuation changes. During the thirteen week period ended May 28, 2022, long-lived assets with a carrying value of $39,228, primarily right-of-use assets in connection with stores or leased office spaces, were written down to their fair value of $4,192, resulting in an impairment charge of $35,036. During the thirteen week period ended May 29, 2021, long-lived assets with a carrying value of $4,313, primarily right-of-use assets in connection with leased office spaces, were written down to their fair value of $0, resulting in an impairment charge of $4,313. If our actual future cash flows differ from our projections materially, certain stores that are either not impaired or partially impaired in the current period may be further impaired in future periods. ​ The following table presents fair values for those assets measured at fair value on a non-recurring basis at May 28, 2022 and May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 28, 2022 Long-lived assets held for use ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 29, 2021 Long-lived assets held for use ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (4,313) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (4,313) ​ The above assets reflected in the caption Long-lived assets held for sale are separate and apart from the Assets to be Sold and due to their immateriality have not been reclassified to assets held for sale. Facility Exit Charges ​ As part of the Company's ongoing business activities, the Company assesses stores and distribution centers for potential closure or relocation. Decisions to close or relocate stores or distribution centers in future periods would result in facility exit charges and inventory liquidation charges, as well as impairment of assets at these locations. When a store or distribution center is closed, the Company records an expense for unrecoverable costs and accrues a liability equal to the present value at current credit adjusted risk-free interest rates of any anticipated executory costs which are not included within the store or distribution center's respective lease liability under Topic 842. Other store or distribution center closing and liquidation costs are expensed when incurred. ​ The following table reflects changes in the Company’s closed store liability relating to closed store and distribution center charges for new closures, changes in assumptions and interest accretion: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ ​ ​ Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 Balance—beginning of period ​ $ 18,688 ​ $ 3,443 ​ Provision for present value of executory costs for leases exited ​ 26,499 ​ 1,708 ​ Changes in assumptions and other adjustments ​ ​ (191) ​ ​ 1,493 ​ Interest accretion ​ 98 ​ 7 ​ Cash payments ​ (1,692) ​ (516) ​ Balance—end of period ​ $ 43,402 ​ $ 6,135 ​ ​

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 28, 2022
Fair Value Measurements
Fair Value Measurements	6. Fair Value Measurements ​ The Company utilizes the three-level valuation hierarchy as described in Note 5, Facility Exit and Impairment Charges, ​ Financial instruments other than long-term indebtedness include cash and cash equivalents, accounts receivable and accounts payable. These instruments are recorded at book value, which we believe approximate their fair values due to their short term nature. In addition, as of May 28, 2022 and February 26, 2022, the Company has $7,186 and $7,406, respectively, of investments carried at amortized cost as these investments are being held to maturity, which are included as a component of other assets. The Company believes the carrying value of these investments approximates their fair value. ​ The fair value for LIBOR-based borrowings under the Company’s senior secured credit facility is estimated based on the quoted market price of the financial instrument which is considered Level 1 of the fair value hierarchy. The fair values of substantially all of the Company’s other long-term indebtedness are estimated based on quoted market prices of the financial instruments which are considered Level 1 of the fair value hierarchy. The carrying amount and estimated fair value of the Company’s total long-term indebtedness was $3,026,456 and $2,677,190, respectively, as of May 28, 2022. The carrying amount and estimated fair value of the Company's total long-term indebtedness was $2,732,986 and $2,661,122, respectively, as of February 26, 2022.

Income Taxes

Income Taxes	3 Months Ended
	May 28, 2022
Income Taxes
Income Taxes	7. Income Taxes ​ The Company recorded an income tax expense of $3,497 and $780 for the thirteen week periods ended May 28, 2022 and May 29, 2021, respectively. The effective tax rate for the thirteen week periods ended May 28, 2022 and May 29, 2021 was (3.3)% and (6.4)%, respectively. The effective tax rate for the thirteen week periods ended May 28, 2022 and May 29, 2021 was net of an adjustment of (37.6)% and (18.5)%, respectively, to adjust the valuation allowance against deferred tax assets. ​ The Company recognizes tax liabilities in accordance with the guidance for uncertain tax positions and management adjusts these liabilities with changes in judgment as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the current estimate of the tax liabilities. ​ The Company believes that it is reasonably possible that a decrease of up to $25,130 in unrecognized tax benefits related to state exposures may be necessary in the next twelve months; however, management does not expect the change to have a material impact on the results of operations or the financial position of the Company. ​ The Company regularly evaluates valuation allowances established for deferred tax assets for which future realization is uncertain. Management will continue to monitor all available evidence related to the net deferred tax assets that may change the most recent assessment, including events that have occurred or are anticipated to occur. The Company continues to maintain a valuation allowance against net deferred tax assets of $1,862,823 and $1,822,710, which relates to federal and state deferred tax assets that may not be realized based on the Company's future projections of taxable income at May 28, 2022 and February 26, 2022, respectively.

Medicare Part D

Medicare Part D	3 Months Ended
	May 28, 2022
Medicare Part D
Medicare Part D	8. Medicare Part D ​ The Company offers Medicare Part D benefits through Elixir Insurance (“EI”), which has contracted with CMS to be a Prescription Drug Plan (“PDP”) and, pursuant to the Medicare Prescription Drug, Improvement and Modernization Act of 2003, must be a risk-bearing entity regulated under state insurance laws or similar statutes. ​ EI is a licensed domestic insurance company under the applicable laws and regulations. Pursuant to these laws and regulations, EI must file quarterly and annual reports with the National Association of Insurance Commissioners (“NAIC”) and certain state regulators, must maintain certain minimum amounts of capital and surplus under formulas established by certain states and must, in certain circumstances, request and receive the approval of certain state regulators before making dividend payments or other capital distributions to the Company. The Company does not believe these limitations on dividends and distributions materially impact its financial position. EI is subject to minimum capital and surplus requirements in certain states. The minimum amount of capital and surplus required to satisfy regulatory requirements in these states is $8,323 as of March 31, 2022. EI was in excess of the minimum required amounts in these states as of May 28, 2022. ​ The Company has recorded estimates of various assets and liabilities arising from its participation in the Medicare Part D program based on information in its claims management and enrollment systems. Significant estimates arising from its participation in this program include: (i) estimates of low-income cost subsidies, reinsurance amounts, and coverage gap discount amounts ultimately payable to or receivable from CMS based on a detailed claims reconciliation that will occur in the following year; (ii) an estimate of amounts receivable from CMS under a risk-sharing feature of the Medicare Part D program design, referred to as the risk corridor and (iii) estimates for claims that have been reported and are in the process of being paid or contested and for our estimate of claims that have been incurred but have not yet been reported. ​ On August 12, 2021, the Company entered into a receivable purchase agreement (the “August 2021 Receivable Purchase Agreement”) with Bank of America, N.A. (the “Purchaser”). ​ Pursuant to the terms and conditions set forth in the August 2021 Receivable Purchase Agreement, the Company sold $271,829, a portion of its calendar 2021 CMS receivable, for $258,116, of which $239,360 was received on August 12, 2021. The remaining $18,756, which is included in accounts receivable, net as of May 28, 2022, is payable to the Company, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance from CMS. In connection therewith, the Company recognized a loss of $13,713, which is included as a component of loss (gain) on sale of assets, net during the thirteen week period ended August 28, 2021. On August 12, 2021, concurrent with the August 2021 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “August 2021 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the August 2021 Indemnity Agreement. Based on its evaluation of the August 2021 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the August 2021 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the August 2021 Indemnity Agreement. On January 24, 2022, the Company entered into a receivable purchase agreement (the “January 2022 Receivable Purchase Agreement”) with Purchaser. Pursuant to the terms and conditions set forth in the January 2022 Receivable Purchase Agreement, the Company sold $400,680, a portion of its calendar 2021 CMS receivable, for $387,035, of which $359,388 was received on January 24, 2022. The remaining $27,647, which is included in accounts receivable, net as of May 28, 2022, is payable to the Company, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance from CMS. In connection therewith, the Company recognized a loss of $13,645, which is included as a component of loss (gain) on sale of assets, net during the thirteen week period ended February 26, 2022. On January 24, 2022, concurrent with the January 2022 Receivable Purchase Agreement, the Company entered into an indemnity agreement (the “January 2022 Indemnity Agreement”), whereby the Company has agreed to indemnify, reimburse and hold Purchaser harmless from certain liabilities and expenses actually suffered or incurred by the Purchaser resulting from the occurrence of certain events as specified in the January 2022 Indemnity Agreement. Based on its evaluation of the January 2022 Indemnity Agreement, the Company has determined that it is highly unlikely that the events covered under the January 2022 Indemnity Agreement would occur, and consequently, the Company has not recorded any indemnification liability associated with the January 2022 Indemnity Agreement. As of May 28, 2022 and February 26, 2022 accounts receivable, net included $36,147 and $34,898 due from the Purchaser, subject to final CMS claim reconciliation adjustments, upon receipt of the final remittance for the respective calendar years from CMS. ​ As of May 28, 2022, and February 26, 2022, accounts receivable, net included $155,397 and $63,203 due from CMS. ​

Manufacturer Rebates Receivable

Manufacturer Rebates Receivables	3 Months Ended
	May 28, 2022
Manufacturer Rebates Receivables
Manufacturer Rebates Receivables	9. Manufacturer Rebates Receivables ​ The Pharmacy Services Segment has manufacturer rebates receivables due directly from manufacturers and from our rebate aggregator of $563,389 and $535,620 included in accounts receivable, net of an allowance for uncollectible rebates of $15,295 and $18,796, as of May 28, 2022 and February 26, 2022, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	May 28, 2022
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	10. Goodwill and Other Intangible Assets ​ At May 28, 2022, the goodwill related to the Pharmacy Services segment is at risk of future impairment if the fair value of this segment, and its associated assets, decrease in value due to further declines in its operating results or an inability to execute management’s business strategies. Future cash flow estimates are, by their nature, subjective, and actual results may differ materially from the Company's estimates. If the Company's ongoing cash flow projections are not met or if market factors utilized in the impairment test deteriorate, including an unfavorable change in the terminal growth rate or the weighted-average cost of capital, the Company may have to record impairment charges in future periods. As of May 28, 2022, the Pharmacy Services segment had goodwill of $835,644. ​ ​ The Company’s intangible assets are primarily finite-lived and amortized over their useful lives. Following is a summary of the Company’s finite-lived and indefinite-lived intangible assets as of May 28, 2022 and February 26, 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ February 26, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other(a) ​ $ 199,351 ​ $ (179,046) ​ $ 20,305 ​ 3 years ​ $ 197,651 ​ $ (178,958) ​ $ 18,693 ​ 3 years Prescription files ​ 1,026,342 ​ ​ (914,911) ​ ​ 111,431 5 years ​ 1,030,169 ​ (918,773) ​ ​ 111,396 6 years Customer relationships(a) ​ ​ 388,000 ​ ​ (291,770) ​ ​ 96,230 ​ 9 years ​ ​ 388,000 ​ ​ (286,090) ​ ​ 101,910 ​ 10 years CMS license ​ ​ 57,500 ​ ​ (17,478) ​ ​ 40,022 ​ 4 years ​ ​ 57,500 ​ ​ (15,372) ​ ​ 42,128 ​ 5 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,423) ​ ​ 562 ​ 0 years ​ ​ 58,985 ​ ​ (56,316) ​ ​ 2,669 ​ 1 years Backlog ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years Total finite ​ $ 1,741,678 ​ $ (1,473,128) ​ ​ 268,550 ​ ​ ​ ​ $ 1,743,805 ​ $ (1,467,009) ​ $ 276,796 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,756,078 ​ $ (1,473,128) ​ $ 282,950 ​ ​ ​ ​ $ 1,758,205 ​ $ (1,467,009) ​ $ 291,196 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows. ​ The Company is continuing to reposition its approach to the Elixir Insurance Part D business including an expectation of a purposeful shrinkage of the business. As a result, at the end of fiscal 2022, the Company adjusted the remaining amortization period of the CMS License to 5 years. Prior to such adjustment, the remaining life was 19 years. Amortization expense for these intangible assets and liabilities was $20,626 and $20,460 for the thirteen week periods ended May 28, 2022 and May 29, 2021, respectively. The anticipated annual amortization expense for these intangible assets and liabilities is 2023—$71,185; 2024—$57,613; 2025—$46,393; 2026—$35,802 and 2027—$28,815.

Indebtedness and Credit Agreeme

Indebtedness and Credit Agreements	3 Months Ended
	May 28, 2022
Indebtedness and Credit Agreements
Indebtedness and Credit Agreements	11. Indebtedness and Credit Agreement ​ Following is a summary of indebtedness and lease financing obligations at May 28, 2022 and February 26, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, ​ February 26, ​ 2022 2022 Secured Debt: ​ ​ ​ ​ ​ ​ Senior secured revolving credit facility due August 2026 ($1,000,000 and $709,000 face value less unamortized debt issuance costs of $16,992 and $18,010) ​ ​ 983,008 ​ ​ 690,990 FILO Term Loan due August 2026 ($350,000 face value less unamortized debt issuance costs of $2,211 and $2,344) ​ ​ 347,789 ​ ​ 347,656 ​ ​ 1,330,797 ​ 1,038,646 Second Lien Secured Debt: ​ ​ ​ ​ ​ ​ 7.5% senior secured notes due July 2025 ($600,000 face value less unamortized debt issuance costs of $6,311 and $6,824) ​ 593,689 ​ 593,176 8.0% senior secured notes due November 2026 ($849,918 face value less unamortized debt issuance costs of $13,628 and $14,397) ​ ​ 836,290 ​ ​ 835,521 ​ ​ ​ 1,429,979 ​ ​ 1,428,697 Unguaranteed Unsecured Debt: ​ ​ ​ ​ ​ ​ 7.7% notes due February 2027 ($237,386 face value less unamortized debt issuance costs of $609 and $642) ​ 236,777 ​ 236,744 6.875% fixed-rate senior notes due December 2028 ($29,001 face value less unamortized debt issuance costs of $98 and $102) ​ 28,903 ​ 28,899 ​ ​ 265,680 ​ 265,643 Lease financing obligations ​ 19,408 ​ 20,374 Total debt ​ 3,045,864 ​ 2,753,360 Current maturities of long-term debt and lease financing obligations ​ (5,016) ​ (5,544) Long-term debt and lease financing obligations, less current maturities ​ $ 3,040,848 ​ $ 2,747,816 ​ Credit Facility ​ On December 20, 2018, the Company entered into a senior secured credit agreement (as amended by the First Amendment to Credit Agreement, dated as of January 6, 2020, the “Credit Agreement”; and the Credit Agreement, as further amended by the Second Amendment (as defined below), the “Amended Credit Agreement”), which Credit Agreement provided for facilities consisting of a $2,700,000 senior secured asset-based revolving credit facility (“Initial Senior Secured Revolving Credit Facility”) and a $450,000 “first-in, last out” senior secured term loan facility (“Initial Senior Secured Term Loan,” and together with the Initial Senior Secured Revolving Credit Facility, collectively, the “Initial Facilities”). In December 2018, the Company used proceeds from the Initial Facilities to refinance its prior $2,700,000 existing credit agreement. ​ On August 20, 2021, the Company entered in to the Second Amendment to Credit Agreement (the “Second Amendment”), which, among other things, amended the Credit Agreement to provide for a $2,800,000 senior secured asset-based revolving credit facility (“Senior Secured Revolving Credit Facility” or “revolver”) and a $350,000 “first-in, last out” senior secured term loan facility (“Senior Secured Term Loan” or “Term Loan” and together with the Senior Secured Revolving Credit Facility, collectively, the “Amended Facilities”) and incorporate customary “hardwired” LIBOR transition provisions. The Amended Facilities extend the Company’s debt maturity profile and provide additional liquidity. Borrowings under the Senior Secured Revolving Credit Facility bear interest at a rate per annum equal to, at the Company’s option, a base rate (determined in a customary manner) plus a margin of between 0.25% to 0.75% or (y) an adjusted LIBOR rate (determined in a customary manner) plus a margin of between 1.25% and 1.75%, in each case based upon the Average ABL Availability (as defined in the Amended Credit Agreement). Borrowings under the Senior Secured Term Loan bear interest at a rate per annum equal to, at the Company’s option, (x) a base rate (determined in a customary manner) plus a margin of 1.75% or (y) an adjusted LIBOR rate (determined in a customary manner) plus a margin of 2.75%. The Company is required to pay fees between 0.250% and 0.375% per annum on the daily unused amount of the commitments under the Senior Secured Revolving Credit Facility, depending on Average ABL Availability (as defined in the Amended Credit Agreement). ​ The Company’s borrowing capacity under the Senior Secured Revolving Credit Facility is based upon a specified borrowing base consisting of accounts receivable, inventory and prescription files. At May 28, 2022, the Company had $1,350,000 of borrowings outstanding under the Amended Facilities and had letters of credit outstanding under the Senior Secured Revolving Credit Facility in a face amount of $127,696, which resulted in remaining borrowing capacity under the Senior Secured Revolving Credit Facility of $1,672,304. If at any time the total credit exposure outstanding under the Senior Secured Revolving Credit Facility exceeds the borrowing base, the Company will be required to repay amounts outstanding to eliminate such shortfall. The Amended Credit Agreement restricts the Company and all of its subsidiaries that guarantee its obligations under the Amended Facilities, the secured guaranteed notes and unsecured guaranteed notes (collectively, the “Subsidiary Guarantors”) from accumulating cash on hand in excess of $200,000 at any time when revolving loans are outstanding (not including cash located in store and lockbox deposit accounts and cash necessary to cover current liabilities). The Amended Credit Agreement also states that if at any time (other than following the exercise of remedies or acceleration of any senior obligations or second priority debt and receipt of a triggering notice by the senior collateral agent from a representative of the senior obligations or the second priority debt) either (i) an event of default exists under the Amended Facilities or (ii) the sum of the Company’s borrowing capacity under the Senior Secured Revolving Credit Facility and certain amounts held on deposit with the senior collateral agent in a concentration account is less than $275,000 for three consecutive business days or less than or equal to $200,000 on any day (a “cash sweep period”), the funds in the Company’s deposit accounts will be swept to a concentration account with the senior collateral agent and will be applied first to repay outstanding revolving loans under the Amended Facilities, and then held as collateral for the senior obligations until such cash sweep period is rescinded pursuant to the terms of the Amended Facilities. With the exception of EI, substantially all of Rite Aid Corporation’s 100% owned subsidiaries guarantee the obligations under the Amended Facilities, the secured guaranteed notes and unsecured guaranteed notes. The Company’s obligations under the Amended Facilities and the Subsidiary Guarantors’ obligations under the related guarantees are secured by (i) a first-priority lien on all of the Subsidiary Guarantors’ cash and cash equivalents, accounts receivable, inventory, prescription files (including eligible script lists), intellectual property (prior to the repayment of the Senior Secured Term Loan) and certain other assets arising therefrom or related thereto (including substantially all of their deposit accounts, collectively, the “ABL priority collateral”) and (ii) a second-priority lien on all of the Subsidiary Guarantors’ equipment, fixtures, investment property (other than equity interests in subsidiaries), intellectual property (following the repayment of the Senior Secured Term Loan) and all other assets that do not constitute ABL priority collateral, in each case, subject to customary exceptions and limitations. The subsidiary guarantees related to the Company’s Amended Facilities, the secured guaranteed notes and, on an unsecured basis, the unsecured guaranteed notes, are full and unconditional and joint and several. The Company has no independent assets or operations. Other than EI, the subsidiaries, including joint ventures, that do not guarantee the Amended Facilities and applicable notes, are minor. The Amended Credit Agreement allows the Company to have outstanding, at any time, up to an aggregate principal amount of $1,500,000 in secured second priority debt, split-priority debt, unsecured debt and disqualified preferred stock in addition to borrowings under the Amended Facilities and existing indebtedness, provided that not in excess of $750,000 of such secured second priority debt, split-priority debt, unsecured debt and disqualified preferred stock shall mature or require scheduled payments of principal prior to 90 days after the latest maturity date of any Term Loan or Other Revolving Commitment (each as defined in the Amended Credit Agreement) (excluding bridge facilities allowing extensions on customary terms to at least the date that is 90 days after such date). Subject to the limitations described in the immediately preceding sentence, the Amended Credit Agreement additionally allows the Company to issue or incur an unlimited amount of unsecured debt and disqualified preferred stock so long as a Financial Covenant Effectiveness Period (as defined in the Amended Credit Agreement) is not in effect; provided, however, that certain of the Company’s other outstanding indebtedness limits the amount of unsecured debt that can be incurred if certain interest coverage levels are not met at the time of incurrence or other exemptions are not available. The Amended Credit Agreement also contains certain restrictions on the amount of secured first priority debt the Company is able to incur. The Amended Credit Agreement also allows for the voluntary repurchase of any debt or other convertible debt, so long as the Amended Facilities are not in default and the Company maintains availability under its revolver of more than $365,000. ​ The Amended Credit Agreement has a financial covenant that requires the Company to maintain a minimum fixed charge coverage ratio of 1.00 to 1.00 (i) on any date on which availability under the Senior Secured Revolving Credit Facility is less than $200,000 or (ii) on the third consecutive business day on which availability under the Senior Secured Revolving Credit Facility is less than $250,000 and, in each case, ending on and excluding the first day thereafter, if any, which is the 30th consecutive calendar day on which availability under the revolver is equal to or greater than $250,000. As of May 28, 2022, the Company’s fixed charge coverage ratio was greater than 1.00 to 1.00, and the Company was in compliance with the Amended Credit Agreement’s financial covenant. The Amended Credit Agreement also contains covenants which place restrictions on the incurrence of debt, the payments of dividends, the making of investments, sale of assets, mergers and acquisitions and the granting of liens. ​ The Amended Credit Agreement provides for customary events of default including nonpayment, misrepresentation, breach of covenants and bankruptcy. It is also an event of default if the Company fails to make any required payment on debt having a principal amount in excess of $50,000 or any event occurs that enables, or which with the giving of notice or the lapse of time would enable, the holder of such debt to accelerate the maturity or require the repayment, repurchase, redemption or defeasance of such debt. Fiscal 2022 and 2023 Transactions ​ On April 28, 2021, the Company issued a notice of redemption for all of the 6.125% Notes that were outstanding on May 28, 2021, pursuant to the terms of the indenture of the 6.125% Notes. On May 28, 2021, the Company redeemed 100% of the remaining outstanding 6.125% Notes at par. In connection therewith, the Company recorded a loss on debt retirement of $396 which included unamortized debt issuance costs. The debt repayment and related loss on debt retirement is included in the results of operations and cash flows. ​ On August 20, 2021, the Company entered into the Second Amendment in order to, among other things, increase the aggregate principal amount of commitments under the Senior Secured Revolving Credit Facility from $2,700,000 to $2,800,000 and decrease the aggregate principal amount of loans outstanding under the Senior Secured Term Loan from $450,000 to $350,000. In connection therewith, the Company recorded a loss on debt modification and retirement of $2,839 which included unamortized debt issuance costs. The debt repayment and related loss on debt modification and retirement is included in the results of operations and cash flows. ​ On June 13, 2022, the Company announced the commencement of a series of cash tender offers to purchase up to $150,000 aggregate principal amount of the Company’s 7.50% Senior Secured Notes due 2025 (the “2025 Notes”), 8.0% Senior Secured Notes due 2026, 7.70% Notes due 2027 (the “2027 Notes”) and 6.875% Notes due 2028 (the “2028 Notes”), subject to prioritized acceptance levels, a subcap of $100,000 with respect to the 2025 Notes and proration. On June 29, 2022, pursuant to an early settlement, the Company purchased an aggregate principal amount of $114,942 of its 2025 Notes, $51,695 aggregate principal amount of its 2027 Notes and $26,955 aggregate principal amount of its 2028 Notes. The Company anticipates that the purchase will be considered a debt retirement and accordingly, anticipates a gain on debt retirement during the second quarter of fiscal 2023. ​ Maturities ​ The aggregate annual principal payments of long-term debt for the remainder of fiscal 2023 and thereafter are as follows: 2023—$0; 2024—$0; 2025—$0; 2026—$600,000; 2027—$2,437,304 and $29,001 thereafter.

Leases

Leases	3 Months Ended
	May 28, 2022
Leases
Leases	12. Leases ​ The Company leases most of its retail stores and certain distribution facilities under noncancelable operating ​ The following table is a summary of the Company’s components of net lease cost for the thirteen week ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ May 28, 2022 May 29, 2021 Operating lease cost $ 159,845 ​ $ 169,494 Financing lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use asset ​ 809 ​ ​ 1,011 Interest on long-term finance lease liabilities ​ 501 ​ ​ 568 Total finance lease costs $ 1,310 ​ $ 1,579 Short-term lease costs ​ 457 ​ ​ 1,099 Variable lease costs ​ 42,645 ​ ​ 46,038 Less: sublease income ​ (3,223) ​ ​ (3,343) Net lease cost $ 201,034 ​ $ 214,867 ​ Supplemental cash flow information related to leases for the thirteen week periods ended May 28, 2022 and May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ May 28, 2022 May 29, 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows paid for operating leases $ 175,414 $ 176,591 ​ Operating cash flows paid for interest portion of finance leases ​ 501 ​ 568 ​ Financing cash flows paid for principal portion of finance leases ​ 945 ​ 1,111 ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 57,986 ​ 76,314 ​ Finance leases ​ — ​ — ​ ​ Supplemental balance sheet information related to leases as of May 28, 2022 and February 26, 2022 (in thousands, except lease term and discount rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, February 26, ​ 2022 2022 Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use asset $ 2,723,405 ​ $ 2,813,535 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities $ 574,392 ​ $ 575,651 ​ Long-term operating lease liabilities ​ 2,526,607 ​ 2,597,090 ​ Total operating lease liabilities $ 3,100,999 ​ $ 3,172,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases: ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net $ 13,151 ​ $ 13,950 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term debt and lease financing obligations $ 5,016 ​ $ 5,544 ​ Lease financing obligations, less current maturities ​ 14,392 ​ 14,830 ​ Total finance lease liabilities $ 19,408 ​ $ 20,374 ​ Weighted average remaining lease term ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.5 ​ 7.7 ​ Finance leases ​ 8.7 ​ 8.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 6.0 % 6.0 % Finance leases ​ 9.8 % 10.0 % ​ The following table summarizes the maturity of lease liabilities under finance and operating leases as of May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2023 (remaining forty weeks) $ 6,065 $ 519,021 $ 525,086 2024 ​ 4,234 ​ 647,443 ​ 651,677 2025 ​ 3,149 ​ 554,618 ​ 557,767 2026 ​ 2,367 ​ 465,409 ​ 467,776 2027 ​ 1,500 ​ 383,097 ​ 384,597 Thereafter ​ 12,048 ​ 1,302,201 ​ 1,314,249 Total lease payments ​ 29,363 ​ 3,871,789 ​ 3,901,152 Less: imputed interest ​ (9,955) ​ (770,790) ​ (780,745) Total lease liabilities $ 19,408 $ 3,100,999 $ 3,120,407 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $34 million due in the future under noncancelable leases. ​ D uring the thirteen week the Company did not enter into any sale-leaseback transactions ​ The Company has additional capacity under its outstanding debt agreements to enter into additional sale-leaseback transactions.

Retirement Plans

Retirement Plans	3 Months Ended
	May 28, 2022
Retirement Plans
Retirement Plans	13. Retirement Plans ​ Net periodic pension expense for the thirteen May 29, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Pension Plan ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 Service cost ​ $ 107 ​ $ 128 ​ Interest cost ​ 1,264 ​ 1,232 ​ Expected return on plan assets ​ (1,402) ​ (1,313) ​ Amortization of unrecognized net loss ​ — ​ 123 ​ Net periodic pension expense ​ $ (31) ​ $ 170 ​ ​ During the thirteen week

Segment Reporting

Segment Reporting	3 Months Ended
	May 28, 2022
Segment Reporting
Segment Reporting	14. Segment Reporting ​ The Company has two reportable segments, its retail drug stores (“Retail Pharmacy”), and its pharmacy services (“Pharmacy Services”) segments. ​ The Retail Pharmacy segment’s primary business is the sale of prescription drugs and related consultation to its customers. Additionally, the Retail Pharmacy segment sells a full selection of health and beauty aids and personal care products, seasonal merchandise and a large private brand product line. The Pharmacy Services segment offers a full range of pharmacy benefit management services including plan design and administration, formulary management and claims processing. Additionally, the Pharmacy Services segment offers specialty and mail order services, and drug benefits to eligible beneficiaries under the federal government’s Medicare Part D program. ​ The Company’s chief operating decision makers are its Chief Executive Officer, Chief Financial Officer and several other members of the Executive Leadership Team, (collectively the “CODM”). The CODM has ultimate responsibility for enterprise decisions. The CODM determines, in particular, resource allocation for, and monitors performance of, the consolidated enterprise, the Retail Pharmacy segment and the Pharmacy Services segment. The Retail Pharmacy and Pharmacy Services segment managers have responsibility for operating decisions, allocating resources and assessing performance within their respective segments. The CODM relies on internal management reporting that analyzes enterprise results on certain key performance indicators, namely, revenues, gross profit, and Adjusted EBITDA. ​ The following is balance sheet information for the Company’s reportable segments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ ​ Pharmacy ​ Services ​ Eliminations(1) ​ Consolidated May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 6,101,168 ​ $ 2,464,224 ​ $ (15,619) ​ $ 8,549,773 Goodwill ​ 43,492 ​ ​ 835,644 ​ — ​ 879,136 February 26, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 6,068,594 ​ $ 2,482,232 ​ $ (21,823) ​ $ 8,529,003 Goodwill ​ 43,492 ​ ​ 835,644 ​ — ​ 879,136 (1) As of May 28, 2022 and February 26, 2022, intersegment eliminations include netting of the Pharmacy Services segment long-term deferred tax liability of $0 against the Retail Pharmacy segment long-term deferred tax asset for consolidation purposes in accordance with ASC 740, and intersegment accounts receivable of $15,619 and $21,823, respectively, that represents amounts owed from the Pharmacy Services segment to the Retail Pharmacy segment that are created when Pharmacy Services segment customers use Retail Pharmacy segment stores to purchase covered products. ​ The following table is a reconciliation of the Company’s business segments to the consolidated financial statements for the thirteen week periods ended May 28, 2022 and May 29, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Pharmacy ​ Intersegment ​ ​ ​ ​ Pharmacy Services Eliminations(1) Consolidated Thirteen Week Period Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,345,356 ​ $ 1,725,857 ​ $ (56,630) ​ $ 6,014,583 Gross Profit ​ ​ 1,097,357 ​ ​ 99,372 ​ ​ — ​ ​ 1,196,729 Adjusted EBITDA(2) ​ ​ 73,682 ​ ​ 26,448 ​ ​ — ​ ​ 100,130 Additions to property and equipment and intangible assets ​ ​ 78,551 ​ ​ 6,873 ​ ​ — ​ ​ 85,424 May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,351,682 ​ $ 1,872,282 ​ $ (62,979) ​ $ 6,160,985 Gross Profit ​ ​ 1,169,934 ​ ​ 114,941 ​ ​ — ​ ​ 1,284,875 Adjusted EBITDA(2) ​ ​ 94,914 ​ ​ 43,963 ​ ​ — ​ ​ 138,877 Additions to property and equipment and intangible assets ​ ​ 60,893 ​ ​ 3,707 ​ ​ — ​ ​ 64,600 (1) Intersegment eliminations include intersegment revenues and corresponding cost of revenues that occur when Pharmacy Services segment customers use Retail Pharmacy segment stores to purchase covered products. When this occurs, both the Retail Pharmacy and Pharmacy Services segments record the revenue on a stand-alone basis. ​ (2) See “Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share and Other Non-GAAP Measures” in MD&A for additional details. ​ The following is a reconciliation of net income (loss) to Adjusted EBITDA for the thirteen May 29, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, May 29, ​ ​ 2022 2021 ​ ​ ​ (13 weeks) ​ (13 weeks) ​ Net loss ​ $ (110,191) ​ $ (13,057) ​ Interest expense ​ 48,119 ​ 49,121 ​ Income tax expense ​ 3,497 ​ 780 ​ Depreciation and amortization ​ ​ 70,073 ​ ​ 75,859 ​ LIFO credit ​ — ​ (3,993) ​ Facility exit and impairment charges ​ 66,571 ​ 8,831 ​ Loss on debt retirements, net ​ ​ — ​ ​ 396 ​ Merger and Acquisition-related costs ​ — ​ 3,886 ​ Stock-based compensation expense ​ ​ 3,334 ​ ​ 2,811 ​ Restructuring-related costs ​ ​ 22,646 ​ ​ 5,932 ​ Inventory write-downs related to store closings ​ ​ 7,955 ​ ​ 472 ​ Litigation and other contractual settlements ​ ​ 18,271 ​ ​ 14,000 ​ Gain on sale of assets, net ​ ​ (29,196) ​ ​ (6,558) ​ Other ​ (949) ​ 397 ​ Adjusted EBITDA ​ $ 100,130 ​ $ 138,877 ​ ​

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	3 Months Ended
	May 28, 2022
Commitments, Contingencies and Guarantees
Commitments, Contingencies and Guarantees	15. Commitments, Contingencies and Guarantees ​ Legal Matters and Regulatory Proceedings The Company is regularly involved in a variety of legal matters including arbitration, litigation (and related settlement discussions), audits by counter parties under our contracts, and other claims, and is subject to regulatory proceedings including audits, inspections, inquiries, investigations, and similar actions by health care, insurance, pharmacy, tax and other governmental authorities arising in the ordinary course of its business, including, without limitation, the matters described below. Substantial damages are sought from the Company in virtually all of these matters. The Company records accruals for outstanding legal matters and applicable regulatory proceedings when it believes it is probable that a loss has been incurred, and the amount can be reasonably estimated. The Company evaluates on a quarterly basis, developments in legal matters and regulatory proceedings that could affect the amount of any existing accrual or that warrant an accrual. If a loss contingency is not both probable and estimable, the Company typically does not establish an accrued liability. With respect to the litigation and other legal proceedings described below, the Company is unable to estimate the amount or range of reasonably possible loss due to the inherent difficulty of predicting the outcome of and uncertainties regarding such litigation and legal proceedings. None of the Company’s accruals for outstanding legal matters or regulatory proceedings are currently material, individually or in the aggregate, to the Company’s consolidated financial position. However, during the course of any proceeding, developments may result in the creation or an increase of an accrual that could be material. Additionally, unfavorable or unexpected outcomes in outstanding legal matters or regulatory proceedings could exceed any accrual and impact the Company’s financial position. Further, even if the Company is successful in its legal proceedings, the Company may incur significant costs and expenses defending itself or others that it is required to indemnify, and such costs and expenses may not be subject to or exceed reimbursement pursuant to any applicable insurance. The Company’s contingencies are subject to significant uncertainties, many of which are beyond the Company’s control, including, among other factors: (i) the stage of any proceeding and delays in scheduling; (ii) whether class or collective action status is sought and the likelihood of a class being certified; (iii) the outcome of pending or potential appeals, motions and settlement discussions; (iv) the range and magnitude of potential damages, fines or penalties, which are often unspecified or indeterminate; (v) the impact of discovery on the matter; (vi) whether novel or unsettled legal theories are at issue or advanced; (vii) whether there are significant factual issues to be resolved including findings made by juries; (viii) the exercise of discretion in enforcement actions including in the case of certain government agency investigations, whether a qui tam Employment Litigation. The Company is currently a defendant in several lawsuits filed in courts in California that contain allegations regarding violations of the California Business and Professions Code, various California employment laws and regulations, industry wage orders, wage-and-hour laws, rules and regulations pertaining primarily to failure to pay overtime, failure to pay premiums for missed meals and rest periods, failure to provide accurate wage statements, and failure to reimburse business expenses (the “California Cases”). The Company also is defending a putative employment collective and class action filed in federal court in New York, which raises similar allegations in addition to others about the payment frequency for certain employees (the “New York Case”). Substantial damages are sought from the Company in virtually all of these matters. From time to time, one or more of these matters may be settled. ​ Some of the California Cases purport or may be determined to be class actions or representative actions under the California Private Attorneys General Act and seek substantial damages and penalties. In June 2021, the Company agreed to settle two of the California Cases in which the plaintiffs brought class-based claims alleging that they and all other similarly situated associates were not paid for time waiting for their bags to be checked. One set of cases involving store associates was settled for $9 million and has concluded, while the other involving distribution center associates was settled for $1.75 million and remains subject to court approval. On October 1, 2021, the Company agreed to settle for $12 million allegations made by a purported class of California store associates that it required such associates to purchase uniforms, and the matter has concluded. The Company has aggressively defended itself and challenged the merits of the lawsuits and, where applicable, allegations that the lawsuits should be certified as class or representative actions. Usual and Customary Litigation. The Company is named as a defendant in a number of lawsuits, including the cases below, that allege that the Company’s retail stores overcharged for prescription drugs by not submitting the price available to members of the Rite Aid’s Rx Savings Program as the pharmacy’s usual and customary price, and related theories. The Company is defending itself against these claims. Substantial damages are sought from the Company in virtually all of these matters. The Company is a defendant in a putative consumer class action lawsuit in the United States District Court for the Southern District of California captioned Byron Stafford v. Rite Aid Corp Robert Josten v. Rite Aid Corp On February 6, 2019, Humana, Inc., filed a claim pursuant to a binding arbitration provision of the parties’ agreement alleging that the Company improperly submitted various usual and customary overcharges by failing to report its Rx Savings Program prices as its usual and customary prices to Humana. An arbitration hearing was held in this matter in November 2021. On April 22, 2022, the arbitrator issued an Opinion and Final Award against the Company for breach of contract awarding Humana $122.6 million, which includes $40.7 million in prejudgment interest (the “Arbitration Award”). The Company believes that the Arbitration Award contains a number of significant factual and legal errors. On June 20, 2022, the Company both opposed Humana’s effort to confirm the Arbitration Award and petitioned the United States District Court for Western District of Kentucky for vacatur of the Arbitration Award, as is its right under the Federal Arbitration Act (“FAA”). As such, the Company has determined that it is not probable that a loss has occurred. The FAA, as interpreted and applied by federal courts, permits vacatur when, among other things, an arbitrator’s decision: (1) is irreconcilable with the terms of a contract between the parties; (2) rests on a plain legal error that manifests disregard for the law; or (3) incorporates a refusal to consider pertinent, material evidence. Similarly, the FAA, as interpreted and applied by federal courts, permits modification of an arbitrator’s decision to correct an evident material miscalculation of figures. Although the Company cannot make any assurances of success in its efforts, it is the Company’s view that the errors in the Arbitration Award support both vacatur and modification under the FAA, the effect of either of which could be to set aside the Arbitration Award or reduce or eliminate the damages provided for in the Arbitration Award. The Company is a defendant in two consolidated lawsuits pending in the United States District Court for the District of Minnesota filed in 2020 by various Blue Cross/Blue Shield plans that operate in eight different states (North Carolina, North Dakota, Alabama, Utah, Minnesota, Oregon, Washington and New Jersey) alleging that the Company improperly submitted various usual and customary overcharges by failing to report its Rx Savings Program pricing to several Pharmacy Benefit Managers with which Rite Aid and the insurers had independent contracts. The Company is also defending a lawsuit filed in Delaware state court in 2019 by multiple Centene entities alleging that the Company overcharged for prescriptions by improperly reporting usual and customary prices that did not include Rx Savings Program pricing. The Company is defending a similar lawsuit filed in 2022 by WellCare in Florida state court. Drug Utilization Review and Code 1 Litigation In June 2012, qui tam On September 5, 2018, the court issued an order denying the motion to dismiss. Substantial damages are sought from the Company in this matter. No trial date has been set and as discovery continues, the parties are participating in a mediation process. Controlled Substances Litigation, Audits and Investigations The Company, along with various other defendants, is named in multiple opioid-related lawsuits filed by counties, cities, municipalities, Native American tribes, hospitals, third-party payers, and others across the United States. In December 2017, the U.S. Judicial Panel on Multidistrict Litigation (“JPML”) consolidated and transferred more than a thousand federal opioid-related lawsuits that name the Company as a defendant to the multi-district litigation (“MDL”) pending in the United States District Court for the Northern District of Ohio under In re National Prescription Opiate Litigation The Company also has received warrants, subpoenas, CIDs, and other requests for documents and information from, and is being investigated by, the federal and state governments regarding opioids and other controlled substances. The Company has been cooperating with and responding to these investigatory inquiries. Substantial damages are sought from the Company in virtually all of these matters. In April 2019, the Company initiated a coverage action styled Rite Aid Corporation et al. v. ACE American Ins. Co. et al. costs that may be paid for the opioid-related lawsuits. The action seeks declaratory relief with respect to the obligations of the insurers under the policies at issue in the action and asserts claims for breach of contract and statutory remedies against one of these insurers. Although the trial court determined on the Company’s motion for partial summary judgment that this insurer was obligated to reimburse the Company for its defense costs, on January 10, 2022, the Delaware Supreme Court reversed the trial court’s order and ruled that the insurer had no duty to defend the first MDL suits set for trial based on the specific allegations at issue in those cases. The matter has been remanded to the lower court for further proceedings. Miscellaneous Litigation and Investigations. The U.S. Securities and Exchange Commission (“SEC”) is investigating trading in the Company’s securities that occurred in or around January 2017, and has subpoenaed information from the Company and certain employees in connection with that investigation. The Company is cooperating with the SEC in this matter. The Company has received a CID and requests for information with respect to consumer protection laws. The Company is also defending a lawsuit asserting numerous claims based on allegations surrounding the Company’s use of a certain font including in the Company’s rebranded logo. ​

Supplementary Cash Flow Data

Supplementary Cash Flow Data	3 Months Ended
	May 28, 2022
Supplementary Cash Flow Data
Supplementary Cash Flow Data	16. Supplementary Cash Flow Data ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ May 28, 2022 May 29, 2021 ​ Cash paid for interest ​ $ 11,230 ​ $ 12,813 ​ Cash payments for income taxes, net ​ $ 13,290 ​ $ 556 ​ Equipment financed under capital leases ​ $ — ​ $ 1,585 ​ Gross borrowings from revolver ​ $ 860,000 ​ $ 1,546,000 ​ Gross repayments to revolver ​ $ 569,000 ​ $ 1,507,000 ​ ​ Significant components of cash provided by Other Liabilities of $15,327 for the thirteen

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	May 28, 2022
Basis of Presentation and Significant Accounting Policies
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. The accompanying financial information reflects all adjustments which are of a recurring nature and, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. The results of operations for the thirteen week period ended May 28, 2022 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Rite Aid Corporation (“Rite Aid”) and Subsidiaries (together with Rite Aid, the “Company”) Fiscal 2022 10-K. ​
Revenue Recognition	Revenue Recognition ​ The following table disaggregates the Company’s revenue by major source in each segment for the thirteen week periods ended May 28, 2022 and May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ May 28, May 29, ​ 2022 ​ 2021 In thousands (13 Weeks) (13 weeks) Retail Pharmacy segment: ​ ​ Pharmacy sales $ 3,053,449 ​ $ 2,997,044 Front-end sales 1,261,206 ​ 1,321,699 Other revenue 30,701 ​ 32,939 Total Retail Pharmacy segment ​ 4,345,356 ​ ​ 4,351,682 Pharmacy Services segment 1,725,857 ​ 1,872,282 Intersegment elimination (56,630) ​ (62,979) Total revenue $ 6,014,583 ​ $ 6,160,985 ​ The Retail Pharmacy segment offered a chain-wide loyalty card program titled wellness+. Individual customers were able to become members of the wellness+ program. Members participating in the wellness+ loyalty card program earned points on a calendar year basis for eligible front-end merchandise purchases and qualifying prescription purchases. The wellness+ program was terminated as of July 1, 2020, with benefits earned as of that date available to be used through the end of calendar 2020. Beginning in December 2020, the Company granted temporary extensions of benefits to certain previous members that were eligible for a discount as of the end of each previous 6 month period such that those prior members were eligible to continue to receive that discount on purchases made through the subsequent 6 months with no additional purchase requirement. New and existing customers who were not already eligible for program benefits also had the opportunity to earn additional discounts on purchases made through each 6 month period. A final extension was granted on December 31, 2021 through February 26, 2022 at which point all discounts were terminated. ​ A new loyalty program, Rite Aid Rewards, was initiated on February 27, 2022. Customers that enroll in the new program earn points for each dollar spent on front of store purchases as well as for eligible pharmacy prescriptions. Points can then be converted into a “Rite Aid Rewards” coupon that can be tendered as payment in a future purchase. Each point is worth $0.002. Customers must accumulate 1,000 points and create an online account in order to convert earned points to a “Rite Aid Rewards” coupon. Unused/unconverted points expire after 90 days . Unredeemed “Rite Aid Rewards” coupons expire 30 days after conversion from points earned. ​ Points earned pursuant to the Rite Aid Rewards program represent a performance obligation. The value of unredeemed Rite Aid Rewards points is deferred as a contract liability (included in other current liabilities). As members redeem points in the form of a Rite Aid Rewards coupon or when points or unredeemed Rite Aid Rewards coupons expire, the Retail Pharmacy segment recognizes the redeemed/expired portion of the deferred contract liability into revenue. For the thirteen week period ended May 28, 2022, the Company recognized $713 of deferred contract liability into revenue. The Retail Pharmacy segment had accrued contract liabilities of $5,577 and $0 as of May 28, 2022 and February 26, 2022, respectively.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ​ In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (Topic 740)

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	3 Months Ended
	May 28, 2022
Basis of Presentation and Significant Accounting Policies
Schedule of revenues	​ ​ ​ ​ ​ ​ ​ ​ May 28, May 29, ​ 2022 ​ 2021 In thousands (13 Weeks) (13 weeks) Retail Pharmacy segment: ​ ​ Pharmacy sales $ 3,053,449 ​ $ 2,997,044 Front-end sales 1,261,206 ​ 1,321,699 Other revenue 30,701 ​ 32,939 Total Retail Pharmacy segment ​ 4,345,356 ​ ​ 4,351,682 Pharmacy Services segment 1,725,857 ​ 1,872,282 Intersegment elimination (56,630) ​ (62,979) Total revenue $ 6,014,583 ​ $ 6,160,985

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	May 28, 2022
Acquisition
Schedule of purchase price allocation	​ ​ ​ ​ Final purchase price ​ Cash consideration $ 89,724 Total 89,724 Final purchase price allocation ​ ​ Cash and cash equivalents $ 3,494 Accounts receivable 23,860 Inventories ​ 67,745 Prepaid expenses and other current assets ​ 1,857 Total current assets ​ 96,956 Property and equipment ​ 28,229 Operating lease right-of-use assets ​ 143,651 Intangible assets(1) ​ 68,700 Other assets ​ 1,805 Total assets acquired ​ 339,341 Accounts payable ​ 24,166 Accrued salaries, wages and other current liabilities ​ 20,335 Current portion of operating lease liabilities ​ 24,617 Total current liabilities ​ 69,118 Long-term operating lease liabilities ​ 124,023 Other long-term liabilities ​ 166 Total liabilities assumed ​ 193,307 Deferred tax liabilities recorded on purchase ​ 13,951 Net assets acquired ​ 132,083 Bargain purchase gain ​ (42,359) Total purchase price $ 89,724 (1) Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes a final valuation prepared by an independent third party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s final estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the Company and other market participants, projected customer attrition rates, as well as applicable royalty rates for comparable assets. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to future cash flows. The estimated fair value of intangible assets and related useful lives as included in the final purchase price allocation include:
Schedule of estimated fair value of intangible assets and related useful lives as included in the final purchase price allocation	​ ​ ​ ​ ​ ​ ​ Estimated Fair Value ​ Estimated Useful Life (In Years) Prescription files $ 54,300 ​ 10 Tradename 14,400 ​ Indefinite Total $ 68,700 ​ ​

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	May 28, 2022
Restructuring
Schedule of restructuring-related costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ segment Services segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ 11,288 $ 616 $ 11,904 Professional and other fees relating to restructuring activities (b) ​ 6,083 ​ 4,659 ​ 10,742 Total restructuring-related costs $ 17,371 $ 5,275 $ 22,646 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ Pharmacy ​ ​ ​ ​ segment Services segment Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Restructuring-related costs ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related costs associated with ongoing reorganization efforts (a) $ — $ 506 $ 506 Professional and other fees relating to restructuring activities (b) ​ 1,621 ​ 3,805 ​ 5,426 Total restructuring-related costs $ 1,621 $ 4,311 $ 5,932
Schedule of restructuring-related liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance and related ​ Professional and ​ ​ ​ ​ costs (a) other fees (b) Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at February 26, 2022 $ 4,257 $ 4,463 $ 8,720 Additions charged to expense ​ ​ 11,904 ​ ​ 10,742 ​ ​ 22,646 Cash payments ​ ​ (5,231) ​ ​ (11,727) ​ ​ (16,958) Balance at May 28, 2022 $ 10,930 $ 3,478 $ 14,408 (a) – Severance and related costs reflect severance accruals, executive search fees, outplacement services and other similar charges associated with ongoing reorganization efforts. (b) – Professional and other fees include costs incurred in connection with the identification and implementation of initiatives associated with restructuring activities.

Income (Loss) Per Share (Tables

Income (Loss) Per Share (Tables)	3 Months Ended
	May 28, 2022
Income (Loss) Per Share
Schedule of calculation of basic and diluted income (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 ​ Basic and diluted loss per share: ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders— basic and diluted ​ $ (110,191) ​ $ (13,057) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Basic and diluted weighted average shares ​ 54,348 ​ 53,852 ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted loss per share ​ $ (2.03) ​ $ (0.24) ​

Facility Exit and Impairment _2

Facility Exit and Impairment Charges (Tables)	3 Months Ended
	May 28, 2022
Facility Exit and Impairment Charges
Schedule of amounts relating to facility exit and impairment charges	​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ Ended ​ ​ May 28, May 29, ​ 2022 2021 Impairment charges ​ $ 35,036 $ 4,313 Facility exit charges ​ 31,535 ​ 4,518 ​ ​ $ 66,571 $ 8,831
Schedule of fair value of long-lived assets measured on recurring and non-recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 28, 2022 Long-lived assets held for use ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ 4,192 ​ $ — ​ $ 4,192 ​ $ (35,036) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Values ​ Total ​ ​ ​ ​ ​ ​ ​ ​ as of ​ Charges ​ Level 1 Level 2 Level 3 Impairment Date May 29, 2021 Long-lived assets held for use ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (4,313) Long-lived assets held for sale ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — Total ​ $ — ​ $ — ​ $ — ​ $ — ​ $ (4,313)
Schedule of closed store and distribution center charges related to new closures, changes in assumptions and interest accretion	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period ​ ​ ​ Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 Balance—beginning of period ​ $ 18,688 ​ $ 3,443 ​ Provision for present value of executory costs for leases exited ​ 26,499 ​ 1,708 ​ Changes in assumptions and other adjustments ​ ​ (191) ​ ​ 1,493 ​ Interest accretion ​ 98 ​ 7 ​ Cash payments ​ (1,692) ​ (516) ​ Balance—end of period ​ $ 43,402 ​ $ 6,135 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	May 28, 2022
Goodwill and Other Intangible Assets
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ February 26, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other(a) ​ $ 199,351 ​ $ (179,046) ​ $ 20,305 ​ 3 years ​ $ 197,651 ​ $ (178,958) ​ $ 18,693 ​ 3 years Prescription files ​ 1,026,342 ​ ​ (914,911) ​ ​ 111,431 5 years ​ 1,030,169 ​ (918,773) ​ ​ 111,396 6 years Customer relationships(a) ​ ​ 388,000 ​ ​ (291,770) ​ ​ 96,230 ​ 9 years ​ ​ 388,000 ​ ​ (286,090) ​ ​ 101,910 ​ 10 years CMS license ​ ​ 57,500 ​ ​ (17,478) ​ ​ 40,022 ​ 4 years ​ ​ 57,500 ​ ​ (15,372) ​ ​ 42,128 ​ 5 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,423) ​ ​ 562 ​ 0 years ​ ​ 58,985 ​ ​ (56,316) ​ ​ 2,669 ​ 1 years Backlog ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years Total finite ​ $ 1,741,678 ​ $ (1,473,128) ​ ​ 268,550 ​ ​ ​ ​ $ 1,743,805 ​ $ (1,467,009) ​ $ 276,796 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,756,078 ​ $ (1,473,128) ​ $ 282,950 ​ ​ ​ ​ $ 1,758,205 ​ $ (1,467,009) ​ $ 291,196 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.
Schedule of Finite-Lived Intangible Assets [Table Text Block]	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ February 26, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Carrying ​ Accumulated ​ ​ ​ ​ Amortization ​ Amount Amortization Net Period Amount Amortization Net Period Non-compete agreements and other(a) ​ $ 199,351 ​ $ (179,046) ​ $ 20,305 ​ 3 years ​ $ 197,651 ​ $ (178,958) ​ $ 18,693 ​ 3 years Prescription files ​ 1,026,342 ​ ​ (914,911) ​ ​ 111,431 5 years ​ 1,030,169 ​ (918,773) ​ ​ 111,396 6 years Customer relationships(a) ​ ​ 388,000 ​ ​ (291,770) ​ ​ 96,230 ​ 9 years ​ ​ 388,000 ​ ​ (286,090) ​ ​ 101,910 ​ 10 years CMS license ​ ​ 57,500 ​ ​ (17,478) ​ ​ 40,022 ​ 4 years ​ ​ 57,500 ​ ​ (15,372) ​ ​ 42,128 ​ 5 years Claims adjudication and other developed software ​ ​ 58,985 ​ ​ (58,423) ​ ​ 562 ​ 0 years ​ ​ 58,985 ​ ​ (56,316) ​ ​ 2,669 ​ 1 years Backlog ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years ​ ​ 11,500 ​ ​ (11,500) ​ ​ — ​ 0 years Total finite ​ $ 1,741,678 ​ $ (1,473,128) ​ ​ 268,550 ​ ​ ​ ​ $ 1,743,805 ​ $ (1,467,009) ​ $ 276,796 ​ ​ ​ Trademarks ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ ​ ​ 14,400 ​ ​ — ​ ​ 14,400 ​ Indefinite ​ Total ​ $ 1,756,078 ​ $ (1,473,128) ​ $ 282,950 ​ ​ ​ ​ $ 1,758,205 ​ $ (1,467,009) ​ $ 291,196 ​ ​ ​ (a) Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.

Indebtedness and Credit Agree_2

Indebtedness and Credit Agreements (Tables)	3 Months Ended
	May 28, 2022
Indebtedness and Credit Agreements
Summary of indebtedness and lease financing obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, ​ February 26, ​ 2022 2022 Secured Debt: ​ ​ ​ ​ ​ ​ Senior secured revolving credit facility due August 2026 ($1,000,000 and $709,000 face value less unamortized debt issuance costs of $16,992 and $18,010) ​ ​ 983,008 ​ ​ 690,990 FILO Term Loan due August 2026 ($350,000 face value less unamortized debt issuance costs of $2,211 and $2,344) ​ ​ 347,789 ​ ​ 347,656 ​ ​ 1,330,797 ​ 1,038,646 Second Lien Secured Debt: ​ ​ ​ ​ ​ ​ 7.5% senior secured notes due July 2025 ($600,000 face value less unamortized debt issuance costs of $6,311 and $6,824) ​ 593,689 ​ 593,176 8.0% senior secured notes due November 2026 ($849,918 face value less unamortized debt issuance costs of $13,628 and $14,397) ​ ​ 836,290 ​ ​ 835,521 ​ ​ ​ 1,429,979 ​ ​ 1,428,697 Unguaranteed Unsecured Debt: ​ ​ ​ ​ ​ ​ 7.7% notes due February 2027 ($237,386 face value less unamortized debt issuance costs of $609 and $642) ​ 236,777 ​ 236,744 6.875% fixed-rate senior notes due December 2028 ($29,001 face value less unamortized debt issuance costs of $98 and $102) ​ 28,903 ​ 28,899 ​ ​ 265,680 ​ 265,643 Lease financing obligations ​ 19,408 ​ 20,374 Total debt ​ 3,045,864 ​ 2,753,360 Current maturities of long-term debt and lease financing obligations ​ (5,016) ​ (5,544) Long-term debt and lease financing obligations, less current maturities ​ $ 3,040,848 ​ $ 2,747,816

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 28, 2022
Leases
Schedule of components of net lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ May 28, 2022 May 29, 2021 Operating lease cost $ 159,845 ​ $ 169,494 Financing lease cost: ​ ​ ​ ​ ​ ​ Amortization of right-of-use asset ​ 809 ​ ​ 1,011 Interest on long-term finance lease liabilities ​ 501 ​ ​ 568 Total finance lease costs $ 1,310 ​ $ 1,579 Short-term lease costs ​ 457 ​ ​ 1,099 Variable lease costs ​ 42,645 ​ ​ 46,038 Less: sublease income ​ (3,223) ​ ​ (3,343) Net lease cost $ 201,034 ​ $ 214,867 ​
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ May 28, 2022 May 29, 2021 Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows paid for operating leases $ 175,414 $ 176,591 ​ Operating cash flows paid for interest portion of finance leases ​ 501 ​ 568 ​ Financing cash flows paid for principal portion of finance leases ​ 945 ​ 1,111 ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 57,986 ​ 76,314 ​ Finance leases ​ — ​ — ​
Schedule of supplemental balance sheet information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, February 26, ​ 2022 2022 Operating leases: ​ ​ ​ ​ ​ ​ ​ Operating lease right-of-use asset $ 2,723,405 ​ $ 2,813,535 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term operating lease liabilities $ 574,392 ​ $ 575,651 ​ Long-term operating lease liabilities ​ 2,526,607 ​ 2,597,090 ​ Total operating lease liabilities $ 3,100,999 ​ $ 3,172,741 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance leases: ​ ​ ​ ​ ​ ​ ​ Property, plant and equipment, net $ 13,151 ​ $ 13,950 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current maturities of long-term debt and lease financing obligations $ 5,016 ​ $ 5,544 ​ Lease financing obligations, less current maturities ​ 14,392 ​ 14,830 ​ Total finance lease liabilities $ 19,408 ​ $ 20,374 ​ Weighted average remaining lease term ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 7.5 ​ 7.7 ​ Finance leases ​ 8.7 ​ 8.7 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average discount rate ​ ​ ​ ​ ​ ​ ​ Operating leases ​ 6.0 % 6.0 % Finance leases ​ 9.8 % 10.0 % ​
Schedule of minimum lease payments, financing leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2023 (remaining forty weeks) $ 6,065 $ 519,021 $ 525,086 2024 ​ 4,234 ​ 647,443 ​ 651,677 2025 ​ 3,149 ​ 554,618 ​ 557,767 2026 ​ 2,367 ​ 465,409 ​ 467,776 2027 ​ 1,500 ​ 383,097 ​ 384,597 Thereafter ​ 12,048 ​ 1,302,201 ​ 1,314,249 Total lease payments ​ 29,363 ​ 3,871,789 ​ 3,901,152 Less: imputed interest ​ (9,955) ​ (770,790) ​ (780,745) Total lease liabilities $ 19,408 $ 3,100,999 $ 3,120,407 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $34 million due in the future under noncancelable leases. ​
Schedule of minimum lease payments, operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022 ​ ​ Finance ​ Operating ​ ​ Fiscal year Leases Leases (1) Total 2023 (remaining forty weeks) $ 6,065 $ 519,021 $ 525,086 2024 ​ 4,234 ​ 647,443 ​ 651,677 2025 ​ 3,149 ​ 554,618 ​ 557,767 2026 ​ 2,367 ​ 465,409 ​ 467,776 2027 ​ 1,500 ​ 383,097 ​ 384,597 Thereafter ​ 12,048 ​ 1,302,201 ​ 1,314,249 Total lease payments ​ 29,363 ​ 3,871,789 ​ 3,901,152 Less: imputed interest ​ (9,955) ​ (770,790) ​ (780,745) Total lease liabilities $ 19,408 $ 3,100,999 $ 3,120,407 (1) – Future operating lease payments have not been reduced by minimum sublease rentals of $34 million due in the future under noncancelable leases. ​ D uring the thirteen week the Company did not enter into any sale-leaseback transactions

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	May 28, 2022
Retirement Plans
Summary of net periodic pension expense for the defined benefit plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit ​ ​ ​ Pension Plan ​ ​ ​ Thirteen Week Period Ended ​ ​ ​ May 28, ​ May 29, ​ ​ 2022 2021 Service cost ​ $ 107 ​ $ 128 ​ Interest cost ​ 1,264 ​ 1,232 ​ Expected return on plan assets ​ (1,402) ​ (1,313) ​ Amortization of unrecognized net loss ​ — ​ 123 ​ Net periodic pension expense ​ $ (31) ​ $ 170 ​

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	May 28, 2022
Segment Reporting
Schedule of balance sheet information for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail Pharmacy ​ ​ ​ ​ ​ Pharmacy ​ Services ​ Eliminations(1) ​ Consolidated May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 6,101,168 ​ $ 2,464,224 ​ $ (15,619) ​ $ 8,549,773 Goodwill ​ 43,492 ​ ​ 835,644 ​ — ​ 879,136 February 26, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Assets ​ $ 6,068,594 ​ $ 2,482,232 ​ $ (21,823) ​ $ 8,529,003 Goodwill ​ 43,492 ​ ​ 835,644 ​ — ​ 879,136 (1) As of May 28, 2022 and February 26, 2022, intersegment eliminations include netting of the Pharmacy Services segment long-term deferred tax liability of $0 against the Retail Pharmacy segment long-term deferred tax asset for consolidation purposes in accordance with ASC 740, and intersegment accounts receivable of $15,619 and $21,823, respectively, that represents amounts owed from the Pharmacy Services segment to the Retail Pharmacy segment that are created when Pharmacy Services segment customers use Retail Pharmacy segment stores to purchase covered products.
Schedule of reconciliation of the Company's business segments to the condensed consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retail ​ Pharmacy ​ Intersegment ​ ​ ​ ​ Pharmacy Services Eliminations(1) Consolidated Thirteen Week Period Ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,345,356 ​ $ 1,725,857 ​ $ (56,630) ​ $ 6,014,583 Gross Profit ​ ​ 1,097,357 ​ ​ 99,372 ​ ​ — ​ ​ 1,196,729 Adjusted EBITDA(2) ​ ​ 73,682 ​ ​ 26,448 ​ ​ — ​ ​ 100,130 Additions to property and equipment and intangible assets ​ ​ 78,551 ​ ​ 6,873 ​ ​ — ​ ​ 85,424 May 29, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ $ 4,351,682 ​ $ 1,872,282 ​ $ (62,979) ​ $ 6,160,985 Gross Profit ​ ​ 1,169,934 ​ ​ 114,941 ​ ​ — ​ ​ 1,284,875 Adjusted EBITDA(2) ​ ​ 94,914 ​ ​ 43,963 ​ ​ — ​ ​ 138,877 Additions to property and equipment and intangible assets ​ ​ 60,893 ​ ​ 3,707 ​ ​ — ​ ​ 64,600 (1) Intersegment eliminations include intersegment revenues and corresponding cost of revenues that occur when Pharmacy Services segment customers use Retail Pharmacy segment stores to purchase covered products. When this occurs, both the Retail Pharmacy and Pharmacy Services segments record the revenue on a stand-alone basis. ​ (2) See “Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted Net Income (Loss) per Diluted Share and Other Non-GAAP Measures” in MD&A for additional details.
Schedule of reconciliation of net (loss) income to Adjusted EBITDA	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ May 28, May 29, ​ ​ 2022 2021 ​ ​ ​ (13 weeks) ​ (13 weeks) ​ Net loss ​ $ (110,191) ​ $ (13,057) ​ Interest expense ​ 48,119 ​ 49,121 ​ Income tax expense ​ 3,497 ​ 780 ​ Depreciation and amortization ​ ​ 70,073 ​ ​ 75,859 ​ LIFO credit ​ — ​ (3,993) ​ Facility exit and impairment charges ​ 66,571 ​ 8,831 ​ Loss on debt retirements, net ​ ​ — ​ ​ 396 ​ Merger and Acquisition-related costs ​ — ​ 3,886 ​ Stock-based compensation expense ​ ​ 3,334 ​ ​ 2,811 ​ Restructuring-related costs ​ ​ 22,646 ​ ​ 5,932 ​ Inventory write-downs related to store closings ​ ​ 7,955 ​ ​ 472 ​ Litigation and other contractual settlements ​ ​ 18,271 ​ ​ 14,000 ​ Gain on sale of assets, net ​ ​ (29,196) ​ ​ (6,558) ​ Other ​ (949) ​ 397 ​ Adjusted EBITDA ​ $ 100,130 ​ $ 138,877 ​

Supplementary Cash Flow Data (T

Supplementary Cash Flow Data (Tables)	3 Months Ended
	May 28, 2022
Supplementary Cash Flow Data
Schedule of supplementary cash flow data	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Week Period Ended ​ ​ May 28, 2022 May 29, 2021 ​ Cash paid for interest ​ $ 11,230 ​ $ 12,813 ​ Cash payments for income taxes, net ​ $ 13,290 ​ $ 556 ​ Equipment financed under capital leases ​ $ — ​ $ 1,585 ​ Gross borrowings from revolver ​ $ 860,000 ​ $ 1,546,000 ​ Gross repayments to revolver ​ $ 569,000 ​ $ 1,507,000 ​ ​

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Product Class
Total revenue	$ 6,014,583	$ 6,160,985
Intersegment elimination
Product Class
Revenues	(56,630)	(62,979)
Total revenue	(56,630)	(62,979)
Retail Pharmacy
Product Class
Other revenue	30,701	32,939
Total revenue	4,345,356	4,351,682
Pharmacy sales
Product Class
Revenues	3,053,449	2,997,044
Front end sales
Product Class
Revenues	1,261,206	1,321,699
Pharmacy Services
Product Class
Revenues	$ 1,725,857	$ 1,872,282

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - FY thru Revenue (Details)		3 Months Ended	12 Months Ended
	Feb. 27, 2022 USD ($) Point	May 28, 2022 USD ($)	Feb. 26, 2022 USD ($)
Revenue Recognition
Measurement period		6 months
Liability recognized into revenue		$ 713,000
Retail Pharmacy
Revenue Recognition
Value of each reward point earned	$ 0.002
Minimum points required for conversion into rewards | Point	1,000
Threshold period for expiry of unconverted points	90 days
Threshold period for expiry of unredeemed rewards	30 days
Accrued contract liabilities		$ 5,577,000	$ 0
Prescription files
Intangible Assets
Remaining Weighted Average Amortization Period		5 years	6 years
Customer relationships
Intangible Assets
Remaining Weighted Average Amortization Period		9 years	10 years
CMS license
Intangible Assets
Remaining Weighted Average Amortization Period		4 years	5 years

Acquisition (Details)

Acquisition (Details) - Bartell Drug Company $ in Thousands	Dec. 18, 2020 USD ($) item
Business Acquisition [Line Items]
Cash consideration | $	$ 89,724
Number of stores	67
Number of distribution centers	1
Percentage of ownership in subsidiary	100%

Acquisition - Purchase price al

Acquisition - Purchase price allocation (Details) - Bartell Drug Company - USD ($) $ in Thousands		3 Months Ended
	Dec. 18, 2020	Nov. 27, 2021	Feb. 27, 2021
Preliminary purchase price
Cash consideration	$ 89,724
Purchase price	89,724
Preliminary purchase price allocation
Cash and cash equivalents	3,494
Accounts receivable	23,860
Inventories	67,745
Prepaid expenses and other current assets	1,857
Total current assets	96,956
Property and equipment	28,229
Operating lease right-of-use assets	143,651
Intangible assets	68,700
Other assets	1,805
Total assets acquired	339,341
Accounts payable	24,166
Accrued salaries, wages and other current liabilities	20,335
Current portion of operating lease liabilities	24,617
Total current liabilities	69,118
Long-term operating lease liabilities	124,023
Other long term liabilities	166
Total liabilities assumed	193,307
Deferred tax liabilities recorded on purchase	13,951
Net assets acquired	132,083
Bargain purchase gain	(42,359)	$ (42,359)	$ (47,705)
Purchase price	$ 89,724

Acquisition - Intangible assets

Acquisition - Intangible assets acquired (Details) - Bartell Drug Company $ in Thousands	Dec. 18, 2020 USD ($)
Business Acquisition [Line Items]
Intangible assets acquired	$ 68,700
Trademarks
Business Acquisition [Line Items]
Intangible assets acquired	14,400
Prescription files
Business Acquisition [Line Items]
Intangible assets acquired	$ 54,300
Estimated Useful Life	10 years

Acquisition - Acquisition costs

Acquisition - Acquisition costs (Details) - USD ($) $ in Thousands		3 Months Ended
	Dec. 18, 2020	May 28, 2022	Nov. 27, 2021	May 29, 2021	Feb. 27, 2021
Business Acquisition [Line Items]
Merger and Acquisition-related costs				$ 3,886
Bartell Drug Company
Business Acquisition [Line Items]
Bargain purchase gain	$ 42,359		$ 42,359		$ 47,705
Loss on Bartell acquisition			$ 5,346
Merger and Acquisition-related costs		$ 0		$ 3,886

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Restructuring related liabilities
Restructuring expense	$ 22,646	$ 5,932
Anticipated restructuring-related costs	60,000
Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member]
Restructuring related liabilities
Balance-beginning of period	8,720
Restructuring expense	22,646	5,932
Cash payments	(16,958)
Balance-end of period	14,408
Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member] | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	22,646
Severance and related costs
Restructuring related liabilities
Balance-beginning of period	4,257
Restructuring expense	11,904	506
Cash payments	(5,231)
Balance-end of period	10,930
Severance and related costs | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	11,904
Professional and other fees
Restructuring related liabilities
Balance-beginning of period	4,463
Restructuring expense	10,742	5,426
Cash payments	(11,727)
Balance-end of period	3,478
Professional and other fees | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	10,742
Retail Pharmacy | Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member]
Restructuring related liabilities
Restructuring expense		1,621
Retail Pharmacy | Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member] | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	17,371
Retail Pharmacy | Severance and related costs | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	11,288
Retail Pharmacy | Professional and other fees
Restructuring related liabilities
Restructuring expense		1,621
Retail Pharmacy | Professional and other fees | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	6,083
Pharmacy Services | Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member]
Restructuring related liabilities
Restructuring expense		4,311
Pharmacy Services | Reorganization Of Executive Management Team, Ongoing Workforce Reduction And Consolidation, And Transformation Initiatives [Member] | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	5,275
Pharmacy Services | Severance and related costs
Restructuring related liabilities
Restructuring expense		506
Pharmacy Services | Severance and related costs | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	616
Pharmacy Services | Professional and other fees
Restructuring related liabilities
Restructuring expense		$ 3,805
Pharmacy Services | Professional and other fees | Selling, general and administrative expenses
Restructuring related liabilities
Restructuring expense	$ 4,659

Income (Loss) Per Share (Detail

Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Numerator:
Net loss attributable to common stockholders - basic	$ (110,191)	$ (13,057)
Net loss attributable to common stockholders - diluted	$ (110,191)	$ (13,057)
Denominator:
Basic weighted average shares	54,348	53,852
Diluted weighted average shares	54,348	53,852
Basic loss per share	$ (2.03)	$ (0.24)
Diluted loss per share	$ (2.03)	$ (0.24)
Stock options
Antidilutive securities excluded from computation of income per share
Shares excluded from the computation of diluted income per share	700	773
Restricted stock
Antidilutive securities excluded from computation of income per share
Shares excluded from the computation of diluted income per share	1,247	1,240

Facility Exit and Impairment _3

Facility Exit and Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021	Feb. 26, 2022
Lease termination and impairment charges
Facility exit and impairment charges	$ 66,571	$ 8,831
Carrying value of long-lived assets	39,228	4,313
Operating right-of-use assets	2,723,405		$ 2,813,535
Nonrecurring basis
Lease termination and impairment charges
Impairment charges	35,036	4,313
Impairment Charges, Total	35,036	4,313
Impairment charges
Lease termination and impairment charges
Facility exit and impairment charges	35,036	4,313
Closed stores or stores approved for closure
Lease termination and impairment charges
Facility exit and impairment charges	$ 31,535	$ 4,518

Facility Exit and Impairment _4

Facility Exit and Impairment Charges - Fair value (Details) - Nonrecurring basis - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Non Financial Assets Measured on a Non Recurring Basis
Fair value of Long-lived assets held for use	$ 4,192
Fair value of Total	4,192
Long-lived assets held and used, impairment charges	(35,036)	$ (4,313)
Total Charges	(35,036)	(4,313)
Total
Non Financial Assets Measured on a Non Recurring Basis
Fair value of Total	4,192	$ 0
Level 2
Non Financial Assets Measured on a Non Recurring Basis
Fair value of Long-lived assets held for use	4,192
Fair value of Total	$ 4,192

Facility Exit and Impairment _5

Facility Exit and Impairment Charges - Closed Store Liability rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Closed store and distribution center charges
Provision for present value of executory costs for leases exited	$ 22,646	$ 5,932
Revenues and operating losses of closed stores or stores approved for closure
Loss before income taxes	(106,694)	(12,277)
Depreciation and amortization	70,073	75,859
Facility exit charges
Closed store and distribution center charges
Balance-beginning of period	18,688	3,443
Provision for present value of executory costs for leases exited	26,499	1,708
Changes in assumptions and other adjustments	(191)	1,493
Interest accretion	98	7
Cash payments	(1,692)	(516)
Balance-end of period	$ 43,402	$ 6,135

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	May 28, 2022	Feb. 26, 2022
Other Financial Instruments
Held to maturity investments	$ 7,186	$ 7,406
Level 1
Other Financial Instruments
Carrying value of total long-term indebtedness	3,026,456	2,732,986
Estimated fair value of total long-term indebtedness	$ 2,677,190	$ 2,661,122

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021	Feb. 26, 2022
Income Taxes
Income tax (benefit) expense	$ 3,497	$ 780
Estimated effective tax rate (as a percent)	3.30%	(6.40%)
Increase in valuation allowance to offset the current year deferred state tax benefits (as a percent)	(37.60%)	(18.50%)
Decrease in unrecognized tax benefits related to state exposures	$ 25,130
Valuation allowance against net deferred tax assets	$ 1,862,823		$ 1,822,710

Medicare Part D (Details)

Medicare Part D (Details) - USD ($) $ in Thousands			3 Months Ended
	Jan. 24, 2022	Aug. 12, 2021	Feb. 26, 2022	Aug. 28, 2021	May 28, 2022	Mar. 31, 2022
Statutory Accounting Practices [Line Items]
Minimum amount of capital and surplus required by regulatory requirements						$ 8,323
Accounts receivable, net			$ 1,343,496		$ 1,449,745
Medicare Part D
Remaining receivable for receivables sold to third party			34,898		36,147
Accrued salaries, wages and other current liabilities			780,632		787,591
February 2021 Receivable Purchase Agreement
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement	$ 400,680
Sale price for receivables sold	387,035
Receipts from sale of receivables	$ 359,388
Remaining receivable for receivables sold to third party					27,647
Loss on sale of receivable			13,645
August 2021 Receivable Purchase Agreement
Medicare Part D
Amount of receivables sold under Receivable Purchase Agreement		$ 271,829
Sale price for receivables sold		258,116
Receipts from sale of receivables		$ 239,360
Remaining receivable for receivables sold to third party					18,756
Loss on sale of receivable				$ 13,713
EI (Elixir Insurance)
Statutory Accounting Practices [Line Items]
Accounts receivable, net			$ 63,203		$ 155,397

Manufacturer Rebates Receivab_2

Manufacturer Rebates Receivables (Details) - USD ($) $ in Thousands	May 28, 2022	Feb. 26, 2022
Manufacturer Rebates Receivables
Manufacturer rebates receivables	$ 563,389	$ 535,620
Allowance for Doubtful Accounts Receivable		$ 18,796
Manufacturers Rebates Receivables [Member]
Manufacturer Rebates Receivables
Allowance for Doubtful Accounts Receivable	$ 15,295

Goodwill and Other Intangibles

Goodwill and Other Intangibles - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	Feb. 26, 2022
Goodwill
Accumulated impairment losses	$ 803,712	$ 803,712
Carrying amount of goodwill
Beginning Balance	879,136
Goodwill impairment	0
Ending Balance	879,136
Pharmacy Services
Goodwill
Accumulated impairment losses	$ 835,644

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	May 28, 2022	Feb. 26, 2022
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Goodwill impairment	$ 0
Accumulated impairment losses	803,712	$ 803,712
Gross Carrying Amount, Finite Lived	1,741,678	1,743,805
Accumulated Amortization	(1,473,128)	(1,467,009)
Net	268,550	276,796
Gross Carrying Amount, Total	1,756,078	1,758,205
Net, Total	282,950	291,196
Other intangibles, net	282,950	291,196
Trademarks
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Indefinite Lived	14,400	14,400
Noncompete agreements and other
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	199,351	197,651
Accumulated Amortization	(179,046)	(178,958)
Net	$ 20,305	$ 18,693
Remaining Weighted Average Amortization Period	3 years	3 years
Prescription files
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	$ 1,026,342	$ 1,030,169
Accumulated Amortization	(914,911)	(918,773)
Net	$ 111,431	$ 111,396
Remaining Weighted Average Amortization Period	5 years	6 years
Customer relationships
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	$ 388,000	$ 388,000
Accumulated Amortization	(291,770)	(286,090)
Net	$ 96,230	$ 101,910
Remaining Weighted Average Amortization Period	9 years	10 years
CMS license
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	$ 57,500	$ 57,500
Accumulated Amortization	(17,478)	(15,372)
Net	$ 40,022	$ 42,128
Remaining Weighted Average Amortization Period	4 years	5 years
Claims adjudication and other developed software
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	$ 58,985	$ 58,985
Accumulated Amortization	(58,423)	(56,316)
Net	$ 562	$ 2,669
Remaining Weighted Average Amortization Period	0 years	1 year
Backlog
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Gross Carrying Amount, Finite Lived	$ 11,500	$ 11,500
Accumulated Amortization	$ (11,500)	$ (11,500)
Remaining Weighted Average Amortization Period	0 years	0 years
EI (Elixir Insurance) | CMS license
Finite Lived And Indefinite Lived Intangible Assets By Major Class
Remaining Weighted Average Amortization Period	5 years	19 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Unfavorable lease intangibles and amortization expense (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Goodwill and Other Intangible Assets
Amortization expense for intangible assets and liabilities	$ 20,626	$ 20,460
Anticipated annual amortization expense for intangible assets and liabilities
2023	71,185
2024	57,613
2025	46,393
2026	35,802
2027	$ 28,815

Indebtedness and Credit Agree_3

Indebtedness and Credit Agreements - Indebtedness and lease financing obligations (Details) - USD ($) $ in Thousands	Jun. 13, 2022	May 28, 2022	Feb. 26, 2022	May 28, 2021	Dec. 20, 2018
Indebtedness and credit agreements
Lease financing obligations		$ 19,408	$ 20,374
Total Debt		3,045,864	2,753,360
Current maturities of long-term debt and lease financing obligations		5,016	5,544
Long-term debt and lease financing obligations, less current maturities		3,040,848	2,747,816
Senior Secured Debt [Member]
Indebtedness and credit agreements
Long-term debt		1,330,797	1,038,646
FILO term loan due December 2023
Indebtedness and credit agreements
Principal amount of debt					$ 450,000
FILO term loan due August 2026 [Member]
Indebtedness and credit agreements
Long-term debt		347,789	347,656
Principal amount of debt		350,000	2,211
Unamortized debt issuance costs		2,344
Senior secured revolving credit facility due August 2026 [Member]
Indebtedness and credit agreements
Long-term debt		983,008	690,990
Principal amount of debt		1,000,000	709,000
Unamortized debt issuance costs		16,992	18,010
Second Lien Secured Debt
Indebtedness and credit agreements
Long-term debt		1,429,979	1,428,697
7.5% senior notes due July 2025
Indebtedness and credit agreements
Long-term debt		$ 593,689	$ 593,176
Debt instrument, stated interest rate (as a percent)	7.50%	7.50%	7.50%
Principal amount of debt		$ 600,000	$ 600,000
Unamortized debt issuance costs		6,311	6,824
8.0% senior secured notes due 2026
Indebtedness and credit agreements
Long-term debt		$ 836,290	$ 835,521
Debt instrument, stated interest rate (as a percent)		8%	8%
Principal amount of debt		$ 849,918	$ 849,918
Unamortized debt issuance costs		13,628	14,397
6.125% senior notes due April 2023
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)				6.125%
Unguaranteed Unsecured Debt
Indebtedness and credit agreements
Long-term debt		265,680	265,643
7.7% notes due February 2027
Indebtedness and credit agreements
Long-term debt		$ 236,777	$ 236,744
Debt instrument, stated interest rate (as a percent)		7.70%	7.70%
Principal amount of debt		$ 237,386	$ 237,386
Unamortized debt issuance costs		609	642
6.875% fixed-rate senior notes due December 2028
Indebtedness and credit agreements
Long-term debt		$ 28,903	$ 28,899
Debt instrument, stated interest rate (as a percent)		6.875%	6.875%
Principal amount of debt		$ 29,001	$ 29,001
Unamortized debt issuance costs		$ 98	$ 102

Indebtedness and Credit Agree_4

Indebtedness and Credit Agreement - Credit Facility (Details) - USD ($) $ in Thousands		3 Months Ended
	Aug. 20, 2021	May 28, 2022	Feb. 26, 2022	May 28, 2021	Dec. 20, 2018
Credit facility
Cash sweep, 3-day minimum threshold		$ 275,000
Cash sweep, 1-day minimum threshold		$ 200,000
Rite Aid Lease Management Company
Credit facility
Ownership interest (as a percent)		100%
Senior secured credit facility
Credit facility
Outstanding borrowings		$ 1,350,000
Maximum amount of accumulated cash on hand		200,000
Amount of debt allowed to be outstanding		1,500,000
Threshold amount of debt		$ 750,000
Number of days relating to debt threshold		90 days
Minimum principal balance for which non-payment causes default		$ 50,000
Senior secured credit facility | Minimum
Credit facility
Fixed charge coverage ratio		1
Senior secured revolving credit facility due December 2023
Credit facility
Maximum borrowing capacity					$ 2,700,000
Letters of credit outstanding		$ 127,696
Additional borrowing capacity		1,672,304
Senior secured revolving credit facility due December 2023 | Minimum
Credit facility
Additional borrowing capacity		365,000
Threshold availability on thirtieth consecutive day		250,000
Senior secured revolving credit facility due December 2023 | Maximum
Credit facility
Threshold availability on revolving credit facility to trigger fixed charge coverage requirements		200,000
Threshold availability on the third consecutive business day		250,000
FILO term loan due December 2023
Credit facility
Maximum borrowing capacity					450,000
Principal amount of debt					450,000
FILO term loan due August 2026 [Member]
Credit facility
Maximum borrowing capacity	$ 350,000
Principal amount of debt		350,000	$ 2,211
FILO term loan due August 2026 [Member] | LIBOR
Credit facility
Percentage points added to the reference rate	2.75%
FILO term loan due August 2026 [Member] | Citibank's base rate
Credit facility
Percentage points added to the reference rate	1.75%
Senior secured revolving credit facility due August 2026 [Member]
Credit facility
Maximum borrowing capacity	$ 2,800,000
Principal amount of debt		$ 1,000,000	$ 709,000
Period triggering springing maturity	91 days
Senior secured revolving credit facility due August 2026 [Member] | Minimum
Credit facility
Credit facility commitment fee (as a percent)	0.25%
Senior secured revolving credit facility due August 2026 [Member] | Maximum
Credit facility
Credit facility commitment fee (as a percent)	0.375%
Senior secured revolving credit facility due August 2026 [Member] | LIBOR | Minimum
Credit facility
Percentage points added to the reference rate	1.25%
Senior secured revolving credit facility due August 2026 [Member] | LIBOR | Maximum
Credit facility
Percentage points added to the reference rate	1.75%
Senior secured revolving credit facility due August 2026 [Member] | Citibank's base rate | Minimum
Credit facility
Percentage points added to the reference rate	0.25%
Senior secured revolving credit facility due August 2026 [Member] | Citibank's base rate | Maximum
Credit facility
Percentage points added to the reference rate	0.75%
Senior secured revolving credit facility due January 2020
Credit facility
Maximum borrowing capacity					$ 2,700,000
6.125% senior notes due April 2023
Credit facility
Debt instrument, stated interest rate (as a percent)				6.125%

Indebtedness and Credit Agree_5

Indebtedness and Credit Agreement - Transactions and Maturity (Details) - USD ($)			3 Months Ended
	Jun. 13, 2022	May 28, 2021	May 28, 2022	May 29, 2021	Jun. 29, 2022	Feb. 26, 2022
Indebtedness and credit agreements
Gain (loss) on debt retirements, net				$ (396,000)
Maturities
2023			$ 0
2024			0
2025			0
2026			600,000
2027			2,437,304
thereafter			29,001
6.125% senior notes due April 2023
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)		6.125%
Gain (loss) on debt retirements and modification			$ (396,000)
Percentage of outstanding principal amount redeemed		100%
6.875% fixed-rate senior notes due December 2028
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			6.875%			6.875%
Face amount of debt repurchased					$ 26,955,000
Principal amount of debt			$ 29,001,000			$ 29,001,000
7.7% notes due February 2027
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			7.70%			7.70%
Face amount of debt repurchased					51,695,000
Principal amount of debt			$ 237,386,000			$ 237,386,000
7.5% senior notes due July 2025
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)	7.50%		7.50%			7.50%
Debt Instrument, Sun Cap Amount	$ 100,000,000
Face amount of debt repurchased	$ 150,000,000				$ 114,942,000
Principal amount of debt			$ 600,000,000			$ 600,000,000
8.0% senior secured notes due 2026,
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)	8%
7.70% senior secured notes due 2027
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)	7.70%
6.875% senior secured notes due 2028
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)	6.875%
8.0% senior secured notes due 2026
Indebtedness and credit agreements
Debt instrument, stated interest rate (as a percent)			8%			8%
Principal amount of debt			$ 849,918,000			$ 849,918,000
Senior secured credit facility
Indebtedness and credit agreements
Gain (loss) on debt retirements and modification			(2,839,000)
FILO term loan due August 2026 [Member]
Indebtedness and credit agreements
Principal amount of debt			350,000,000			2,211,000
Senior secured revolving credit facility due August 2026 [Member]
Indebtedness and credit agreements
Principal amount of debt			$ 1,000,000,000			$ 709,000,000

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Property, Plant and Equipment [Line Items]
Operating lease cost	$ 159,845	$ 169,494
Financing lease cost:
Amortization of right-of-use asset	809	1,011
Interest on long-term finance lease liabilities	501	568
Total finance lease costs	1,310	1,579
Short-term lease costs	457	1,099
Variable lease costs	42,645	46,038
Less: sublease income	(3,223)	(3,343)
Net lease cost	$ 201,034	$ 214,867
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	5 years
Initial terms of noncancellable finance leases	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	22 years
Initial terms of noncancellable finance leases	22 years
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Initial terms of noncancellable operating leases	10 years

Leases - Supplemental cash flow

Leases - Supplemental cash flow information related to leases (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 175,414	$ 176,591
Operating cash flows paid for interest portion of finance leases	501	568
Financing cash flows paid for principal portion of finance leases	945	1,111
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	57,986	76,314
Finance leases	$ 0	$ 0

Leases - Supplemental BS Inform

Leases - Supplemental BS Information (Details) - USD ($) $ in Thousands	May 28, 2022	Feb. 26, 2022
Operating leases:
Operating lease right-of-use assets	$ 2,723,405	$ 2,813,535
Short-term operating lease liabilities	574,392	575,651
Long-term operating lease liabilities	2,526,607	2,597,090
Total operating lease liabilities	3,100,999	3,172,741
Finance leases:
Property, plant and equipment, net	985,121	989,167
Current maturities of long-term debt and lease financing obligations	$ 5,016	$ 5,544
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Current
Lease financing obligations, less current maturities	$ 14,392	$ 14,830
Total finance lease liabilities	$ 19,408	$ 20,374
Weighted average remaining lease term
Operating leases (in years)	7 years 6 months	7 years 8 months 12 days
Finance leases (in years)	8 years 8 months 12 days	8 years 8 months 12 days
Weighted average discount rate
Operating leases (as a percent)	6%	6%
Finance leases (as a percent)	9.80%	10%
Finance Leased Assets [Member]
Finance leases:
Property, plant and equipment, net	$ 13,151	$ 13,950

Leases - Maturity of lease liab

Leases - Maturity of lease liabilities under finance and operating leases (Details) - USD ($) $ in Thousands	May 28, 2022	Feb. 26, 2022
Finance Leases, ASC842
2023 (remaining forty weeks)	$ 6,065
2024	4,234
2025	3,149
2026	2,367
2027	1,500
Thereafter	12,048
Total lease payments	29,363
Less: imputed interest	(9,955)
Total finance lease liabilities	19,408	$ 20,374
Operating Leases, ASC842
2023 (remaining thirty-nine weeks)	519,021
2024	647,443
2025	554,618
2026	465,409
2027	383,097
Thereafter	1,302,201
Total lease payments	3,871,789
Less: imputed interest	(770,790)
Total operating lease liabilities	3,100,999	$ 3,172,741
Minimum sublease rentals	34,000
Operating and finance leases, ASC842
2023 (remaining thirty-nine weeks)	525,086
2024	651,677
2025	557,767
2026	467,776
2027	384,597
Thereafter	1,314,249
Total lease payments	3,901,152
Less: imputed interest	(780,745)
Total lease liabilities	$ 3,120,407

Leases - Sale Leaseback (Detail

Leases - Sale Leaseback (Details) $ in Thousands	3 Months Ended
	May 29, 2021 USD ($) state
Leases
Number of facilities in sale/leaseback | state	2
Sale/leaseback proceeds	$ 7,456
Leaseback term	15 years
Gain on sale-leaseback transactions	$ 3,688

Retirement Plans - Benefit obli

Retirement Plans - Benefit obligation and funded status (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Change in benefit obligations:
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense
Defined Benefit Pension Plan
Change in benefit obligations:
Service cost	$ 107	$ 128
Interest cost	1,264	1,232
Expected return on plan assets	(1,402)	(1,313)
Amortization of unrecognized net loss		123
Net periodic pension expense	(31)	$ 170
Change in plan assets:
Employer contributions	0
Expected employer contribution during next fiscal year	$ 0

Segment Reporting - Balance She

Segment Reporting - Balance Sheet information (Details) $ in Thousands	3 Months Ended
	May 28, 2022 USD ($) segment	Feb. 26, 2022 USD ($)
Segment Reporting
Number of reportable segments | segment	2
Total assets	$ 8,549,773	$ 8,529,003
Goodwill	879,136	879,136
Accounts receivable	1,449,745	1,343,496
Operating segments | Retail Pharmacy
Segment Reporting
Total assets	6,101,168	6,068,594
Goodwill	43,492	43,492
Operating segments | Pharmacy Services
Segment Reporting
Total assets	2,464,224	2,482,232
Goodwill	835,644	835,644
Intersegment elimination
Segment Reporting
Total assets	(15,619)	(21,823)
Long-term deferred tax liability	0	0
Accounts receivable	$ 15,619	$ 21,823

Segment Reporting - Revenues (D

Segment Reporting - Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Segment Reporting
Revenues	$ 6,014,583	$ 6,160,985
Gross Profit	1,196,729	1,284,875
Adjusted EBITDA	100,130	138,877
Additions to property and equipment and intangible assets	85,424	64,600
Retail Pharmacy
Segment Reporting
Revenues	4,345,356	4,351,682
Operating segments | Retail Pharmacy
Segment Reporting
Revenues	4,345,356	4,351,682
Gross Profit	1,097,357	1,169,934
Adjusted EBITDA	73,682	94,914
Additions to property and equipment and intangible assets	78,551	60,893
Operating segments | Pharmacy Services
Segment Reporting
Revenues	1,725,857	1,872,282
Gross Profit	99,372	114,941
Adjusted EBITDA	26,448	43,963
Additions to property and equipment and intangible assets	6,873	3,707
Intersegment elimination
Segment Reporting
Revenues	$ (56,630)	$ (62,979)

Segment Reporting - Adjusted EB

Segment Reporting - Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Segment Reporting
Net loss	$ (110,191)	$ (13,057)
Interest expense	48,119	49,121
Income tax expense	3,497	780
Depreciation and amortization	70,073	75,859
LIFO credit		(3,993)
Facility exit and impairment charges	66,571	8,831
Loss on debt retirements, net		396
Merger and Acquisition-related costs		3,886
Stock-based compensation expense	3,334	2,811
Restructuring-related costs	22,646	5,932
Inventory write-downs related to store closings	7,955	472
Litigation and other contractual settlements	18,271	14,000
Gain on sale of assets, net	(29,196)	(6,558)
Other	(949)	397
Adjusted EBITDA	$ 100,130	$ 138,877

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Details) $ in Thousands		1 Months Ended	3 Months Ended
	Apr. 22, 2022 USD ($)	Jan. 30, 2021 USD ($) lawsuit	May 28, 2022 state lawsuit	Oct. 01, 2021 USD ($)
Commitments, Contingencies and Guarantees
Number of claims settled | lawsuit		2
Amount awarded to Humana	$ 122,600
Prejudgment interest awarded to Humana	$ 40,700
California Employment Litigation, Claims Related To Store Associates [Member]
Commitments, Contingencies and Guarantees
Potential settlement amount		$ 9
Number of claims settled | lawsuit		1
California Employment Litigation, Claims Related To Distribution Center Associates [Member]
Commitments, Contingencies and Guarantees
Potential settlement amount		$ 1,750
California Employment Litigation, Claims Related to Uniforms
Commitments, Contingencies and Guarantees
Potential settlement amount				$ 12
Blue Cross Blue Shield Litigation [Member]
Commitments, Contingencies and Guarantees
Number of claims | lawsuit			2
Number of states in which operated | state			8

Supplementary Cash Flow Data (D

Supplementary Cash Flow Data (Details) - USD ($) $ in Thousands	3 Months Ended
	May 28, 2022	May 29, 2021
Supplementary Cash Flow Data
Cash paid for interest	$ 11,230	$ 12,813
Cash payments for income taxes, net	13,290	556
Equipment financed under capital leases		1,585
Gross borrowings from revolver	860,000	1,546,000
Gross repayments to revolver	569,000	1,507,000
Significant components of cash provided by Other Liabilities
Other liabilities	$ 15,327	$ 34,559