Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Feb. 22, 2014 | Apr. 18, 2014 | Sep. 06, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 22-Feb-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'SVU | ' | ' |
Entity Registrant Name | 'SUPERVALU INC | ' | ' |
Entity Central Index Key | '0000095521 | ' | ' |
Current Fiscal Year End Date | '--02-22 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 260,200,688 | ' |
Entity Public Float | ' | ' | $1,487,797,190 |
CONSOLIDATED_SEGMENT_FINANCIAL
CONSOLIDATED SEGMENT FINANCIAL INFORMATION (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Net sales | ' | ' | ' | ' | ' |
Net sales | $3,953 | $3,899 | $17,155 | $17,139 | $17,383 |
Net sales, % | ' | ' | 100.00% | 100.00% | 100.00% |
Operating earnings (loss) | ' | ' | ' | ' | ' |
Operating earnings (loss) | ' | ' | 418 | -157 | 96 |
Total operating earnings (loss)% of total net sales | ' | ' | 2.40% | -0.90% | 0.60% |
Interest expense, net | ' | ' | 407 | 269 | 247 |
Earnings (loss) from continuing operations before income taxes | ' | ' | 11 | -426 | -151 |
Income tax provision (benefit) | ' | ' | 5 | -163 | -41 |
Net earnings (loss) from continuing operations | 40 | -174 | 6 | -263 | -110 |
Income (loss) from discontinued operations, net of tax | ' | ' | 176 | -1,203 | -930 |
Net earnings (loss) | 26 | -1,412 | 182 | -1,466 | -1,040 |
Depreciation and amortization | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 302 | 365 | 355 |
Capital expenditures | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | 113 | 241 | 403 |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | 4,374 | 11,034 | 4,374 | 11,034 | 12,101 |
Independent Business [Member] | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' |
Net sales | ' | ' | 8,036 | 8,166 | 8,194 |
Net sales, % | ' | ' | 46.80% | 47.60% | 47.10% |
Operating earnings (loss) | ' | ' | ' | ' | ' |
Operating earnings (loss) | ' | ' | 235 | 199 | 254 |
% of sales | ' | ' | 2.90% | 2.40% | 3.10% |
Depreciation and amortization | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 51 | 64 | 67 |
Capital expenditures | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | 24 | 33 | 59 |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | 2,007 | 1,857 | 2,007 | 1,857 | 1,955 |
Save-A-Lot [Member] | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' |
Net sales | ' | ' | 4,228 | 4,195 | 4,221 |
Net sales, % | ' | ' | 24.60% | 24.50% | 24.30% |
Operating earnings (loss) | ' | ' | ' | ' | ' |
Operating earnings (loss) | ' | ' | 167 | 143 | 230 |
% of sales | ' | ' | 3.90% | 3.40% | 5.40% |
Depreciation and amortization | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 64 | 68 | 62 |
Capital expenditures | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | 42 | 101 | 130 |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | 925 | 936 | 925 | 936 | 867 |
Retail Food [Member] | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' |
Net sales | ' | ' | 4,651 | 4,736 | 4,921 |
Net sales, % | ' | ' | 27.10% | 27.70% | 28.30% |
Operating earnings (loss) | ' | ' | ' | ' | ' |
Operating earnings (loss) | ' | ' | 72 | -160 | -36 |
% of sales | ' | ' | 1.60% | -3.40% | -0.70% |
Depreciation and amortization | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | 187 | 233 | 226 |
Capital expenditures | ' | ' | ' | ' | ' |
Capital expenditures | ' | ' | 47 | 107 | 214 |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | 1,415 | 1,695 | 1,415 | 1,695 | 2,229 |
Corporate [Member] | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' |
Net sales | ' | ' | 240 | 42 | 47 |
Net sales, % | ' | ' | 1.50% | 0.20% | 0.30% |
Operating earnings (loss) | ' | ' | ' | ' | ' |
Operating earnings (loss) | ' | ' | -56 | -339 | -352 |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | 27 | 75 | 27 | 75 | 84 |
Discontinued Operations [Member] | ' | ' | ' | ' | ' |
Identifiable assets | ' | ' | ' | ' | ' |
Identifiable assets | ' | $6,471 | ' | $6,471 | $6,966 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $17,155 | $17,139 | $17,383 |
Cost of sales | 14,623 | 14,803 | 14,926 |
Gross profit | 2,532 | 2,336 | 2,457 |
Selling and administrative expenses | 2,114 | 2,487 | 2,269 |
Goodwill and intangible asset impairment charges | ' | 6 | 92 |
Operating earnings (loss) | 418 | -157 | 96 |
Interest | ' | ' | ' |
Interest expense | 407 | 272 | 251 |
Interest (income) | ' | -3 | -4 |
Interest expense, net | 407 | 269 | 247 |
Earnings (loss) from continuing operations before income taxes | 11 | -426 | -151 |
Income tax provision (benefit) | 5 | -163 | -41 |
Net earnings (loss) from continuing operations | 6 | -263 | -110 |
Income (loss) from discontinued operations, net of tax | 176 | -1,203 | -930 |
Net earnings (loss) | $182 | ($1,466) | ($1,040) |
Basic net earnings (loss) per common share: | ' | ' | ' |
Net earnings (loss) per share from continuing operations | $0.02 | ($1.24) | ($0.52) |
Net earnings (loss) per share from discontinued operations | $0.69 | ($5.67) | ($4.39) |
Net earnings (loss) per share | $0.71 | ($6.91) | ($4.91) |
Diluted net earnings (loss) per common share: | ' | ' | ' |
Net earnings (loss) per share from continuing operations | $0.02 | ($1.24) | ($0.52) |
Net earnings (loss) per share from discontinued operations | $0.68 | ($5.67) | ($4.39) |
Net earnings (loss) per share | $0.70 | ($6.91) | ($4.91) |
Weighted average number of shares outstanding: | ' | ' | ' |
Basic | 255 | 212 | 212 |
Diluted | 258 | 212 | 212 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net earnings (loss) | $182 | ($1,466) | ($1,040) |
Other comprehensive income (loss): | ' | ' | ' |
Recognition of pension and other postretirement benefits income (loss), net of tax (expense) benefit of $(123), $(22) and $129, respectively | 257 | 45 | -211 |
Comprehensive income (loss) | $439 | ($1,421) | ($1,251) |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Recognition of pension and other postretirement benefits income (loss) tax | ($123) | ($22) | $129 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $83 | $72 |
Receivables, net | 493 | 466 |
Inventories, net | 861 | 854 |
Other current assets | 106 | 84 |
Current assets of discontinued operations | ' | 1,494 |
Total current assets | 1,543 | 2,970 |
Property, plant and equipment, net | 1,497 | 1,700 |
Goodwill | 847 | 847 |
Intangible assets, net | 43 | 51 |
Deferred tax assets | 287 | 345 |
Other assets | 157 | 144 |
Long-term assets of discontinued operations | ' | 4,977 |
Total assets | 4,374 | 11,034 |
Current liabilities | ' | ' |
Accounts payable | 1,043 | 1,089 |
Accrued vacation, compensation and benefits | 190 | 275 |
Current maturities of long-term debt and capital lease obligations | 45 | 74 |
Other current liabilities | 213 | 211 |
Current liabilities of discontinued operations | ' | 2,701 |
Total current liabilities | 1,491 | 4,350 |
Long-term debt | 2,486 | 2,540 |
Long-term capital lease obligations | 246 | 275 |
Pension and other postretirement benefit obligations | 536 | 962 |
Long-term tax liabilities | 140 | 308 |
Other long-term liabilities | 213 | 223 |
Long-term liabilities of discontinued operations | ' | 3,791 |
Commitments and contingencies | ' | ' |
Stockholders' deficit | ' | ' |
Common stock, $0.01 par value: 400 shares authorized; 260 and 230 shares issued, respectively | 3 | 2 |
Capital in excess of par value | 2,862 | 3,046 |
Treasury stock, at cost, 4 and 17 shares, respectively | -101 | -474 |
Accumulated other comprehensive loss | -307 | -612 |
Accumulated deficit | -3,195 | -3,377 |
Total stockholders' deficit | -738 | -1,415 |
Total liabilities and stockholders' deficit | $4,374 | $11,034 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 400 | 400 |
Common stock, shares issued | 260 | 230 |
Treasury stock, shares | 4 | 17 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (USD $) | Total | Common Stock [Member] | Capital in Excess of Par Value [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
In Millions | ||||||
Balances at Feb. 26, 2011 | $1,340 | $230 | $2,855 | ($521) | ($446) | ($778) |
Net earnings (loss) | -1,040 | ' | ' | ' | ' | -1,040 |
Other comprehensive loss, net of tax of $129, $22 and $123 for 2012, 2013 and 2014 respectively | -211 | ' | ' | ' | -211 | ' |
Cash dividends declared on common stock $0.3500 and $0.0875 per share for 2012 and 2013 respectively | -74 | ' | ' | ' | ' | -74 |
Stock-based compensation | 14 | ' | 8 | 6 | ' | ' |
Other | -8 | ' | -8 | ' | ' | ' |
Balances at Feb. 25, 2012 | 21 | 230 | 2,855 | -515 | -657 | -1,892 |
Net earnings (loss) | -1,466 | ' | ' | ' | ' | -1,466 |
Other comprehensive loss, net of tax of $129, $22 and $123 for 2012, 2013 and 2014 respectively | 45 | ' | ' | ' | 45 | ' |
Cash dividends declared on common stock $0.3500 and $0.0875 per share for 2012 and 2013 respectively | -19 | ' | ' | ' | ' | -19 |
Stock-based compensation | 14 | ' | -27 | 41 | ' | ' |
Change in par value of common stock | ' | -228 | 228 | ' | ' | ' |
Other | -10 | ' | -10 | ' | ' | ' |
Balances at Feb. 23, 2013 | -1,415 | 2 | 3,046 | -474 | -612 | -3,377 |
Net earnings (loss) | 182 | ' | ' | ' | ' | 182 |
Other comprehensive loss, net of tax of $129, $22 and $123 for 2012, 2013 and 2014 respectively | 257 | ' | ' | ' | 257 | ' |
Divestiture of New Albertsons, Inc.'s pension accumulated comprehensive loss, net of tax of $31 | 48 | ' | ' | ' | 48 | ' |
Common stock issued and sold in connection with New Albertsons, Inc. divesture | 170 | 1 | 12 | 157 | ' | ' |
Sales of common stock under option plans | 7 | ' | -134 | 141 | ' | ' |
Stock-based compensation | 25 | ' | -54 | 79 | ' | ' |
Other | -12 | ' | -8 | -4 | ' | ' |
Balances at Feb. 22, 2014 | ($738) | $3 | $2,862 | ($101) | ($307) | ($3,195) |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Tax effect on other comprehensive income | ($123) | ($22) | $129 |
Cash dividends declared on common stock | ' | $0.09 | ' |
Accumulated Other Comprehensive Loss [Member] | ' | ' | ' |
Tax effect on other comprehensive income | 123 | 22 | 129 |
Divestiture of New Albertsons, Inc.'s pension accumulated comprehensive loss | $31 | ' | ' |
Accumulated Deficit [Member] | ' | ' | ' |
Cash dividends declared on common stock | ' | $0.09 | $0.35 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Cash flows from operating activities | ' | ' | ' |
Net earnings (loss) | $182 | ($1,466) | ($1,040) |
Income (loss) from discontinued operations, net of tax | 176 | -1,203 | -930 |
Net earnings (loss) from continuing operations | 6 | -263 | -110 |
Adjustments to reconcile Net earnings (loss) from continuing operations to Net cash provided by operating activities - continuing operations: | ' | ' | ' |
Goodwill and intangible asset impairment charges | ' | 6 | 92 |
Asset impairment and other charges | 194 | 283 | 6 |
Net gain on sale of assets and exits of surplus leases | -17 | -6 | -25 |
Depreciation and amortization | 302 | 365 | 355 |
LIFO (credit) charge | -9 | 4 | 16 |
Deferred income taxes | -39 | -50 | 13 |
Stock-based compensation | 22 | 13 | 13 |
Net pension and other postretirement benefits cost | 79 | 102 | 106 |
Contributions to pension and other postretirement benefit plans | -124 | -98 | -83 |
Other adjustments | 32 | 26 | 21 |
Changes in operating assets and liabilities: | ' | ' | ' |
Receivables | -54 | 30 | -6 |
Inventories | 2 | 51 | 10 |
Accounts payable and accrued liabilities | -127 | -69 | -108 |
Income taxes | -79 | 75 | 55 |
Other changes in operating assets and liabilities | -68 | -52 | -27 |
Net cash provided by operating activities - continuing operations | 120 | 417 | 328 |
Net cash (used in) provided by operating activities - discontinued operations | -101 | 481 | 728 |
Net cash provided by operating activities | 19 | 898 | 1,056 |
Cash flows from investing activities | ' | ' | ' |
Proceeds from sale of assets | 14 | 38 | 29 |
Purchases of property, plant and equipment | -111 | -228 | -402 |
Other | 11 | 1 | 3 |
Net cash used in investing activities - continuing operations | -86 | -189 | -370 |
Net cash provided by (used in) investing activities - discontinued operations | 135 | -175 | -114 |
Net cash provided by (used in) investing activities | 49 | -364 | -484 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from issuance of debt | 2,098 | 1,713 | 291 |
Proceeds from the sale of common stock | 177 | ' | ' |
Payments of debt and capital lease obligations | -2,221 | -2,099 | -700 |
Payments for debt financing costs | -151 | -66 | -8 |
Dividends paid | ' | -37 | -74 |
Other | -1 | -7 | -2 |
Net cash used in financing activities - continuing operations | -98 | -496 | -493 |
Net cash used in financing activities - discontinued operations | -36 | -46 | -94 |
Net cash used in financing activities | -134 | -542 | -587 |
Net decrease in cash and cash equivalents | -66 | -8 | -15 |
Cash and cash equivalents at beginning of year | 149 | 157 | 172 |
Cash and cash equivalents at end of year | 83 | 149 | 157 |
Less cash and cash equivalents of discontinued operations at end of year | ' | -77 | -93 |
Cash and cash equivalents of continuing operations at end of year | 83 | 72 | 64 |
The Company's non-cash activities were as follows: | ' | ' | ' |
Capital lease asset additions | 2 | 13 | 1 |
Purchases of property, plant and equipment included in Accounts payable | 19 | 10 | 44 |
Interest and income taxes paid: | ' | ' | ' |
Interest paid (net of amounts capitalized) | 227 | 232 | 227 |
Income taxes paid (net of refunds) | $118 | $31 | $73 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' | ||||||||||||||||||||||||||||||||||||||||
NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||||||||||||||||||||||||||
Business Description | |||||||||||||||||||||||||||||||||||||||||
SUPERVALU INC. (“SUPERVALU” or the “Company”) operates primarily in the United States grocery channel. SUPERVALU provides supply chain services, primarily wholesale distribution, operates hard discount retail stores and licenses stores to independent operators under the Save-A-Lot banner, and operates five competitive, regionally-based traditional format grocery banners under the Cub Foods, Shoppers Food & Pharmacy, Shop ‘n Save, Farm Fresh and Hornbacher’s banners. | |||||||||||||||||||||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||||||||||||||||||
The Consolidated Financial Statements include the accounts of the Company and all its wholly and majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. References to the Company refer to SUPERVALU INC. and Subsidiaries. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company entered into a stock purchase agreement (the “Stock Purchase Agreement”) to sell the Company’s New Albertson’s, Inc. subsidiary (“New Albertsons” or “NAI”), including the Acme, Albertsons, Jewel-Osco, Shaw’s and Star Market retail banners and the associated Osco and Sav-on in-store pharmacies (the “NAI Banner Sale”) to AB Acquisition LLC (“AB Acquisition”). The NAI Banner Sale was completed effective March 21, 2013, during the Company’s first quarter of fiscal 2014. The NAI operations disposed of under the NAI Banner Sale are reported as discontinued operations in the Consolidated Statements of Operations for all periods presented. The assets and liabilities of the NAI disposal group are presented as assets and liabilities of discontinued operations separately in the Consolidated Balance Sheets for all periods presented. Unless otherwise indicated, references to the Consolidated Statements of Operations and the Consolidated Balance Sheets in the Notes to the Consolidated Financial Statements exclude all amounts related to discontinued operations. See Note 14—Discontinued Operations and Divestitures for additional information regarding these discontinued operations. | |||||||||||||||||||||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||||||||||||||||
The Company’s fiscal year ends on the last Saturday in February. The Company’s first quarter consists of 16 weeks while the second, third and fourth quarters each consist of 12 weeks. Because of differences in the accounting calendars of the Company and its former wholly-owned subsidiary NAI, the February 23, 2013 Consolidated Balance Sheets include the assets and liabilities of the NAI disposal group as of February 21, 2013. The last three fiscal years consist of 52 week periods ended February 22, 2014, February 23, 2013 and February 25, 2012. | |||||||||||||||||||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||||||||||||||||||
The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting periods presented. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||||||||||||||
Segment Reclassification | |||||||||||||||||||||||||||||||||||||||||
During the first quarter of fiscal 2014, the Company reclassified the segment presentation of certain corporate administrative expenses and related fees earned under the Company’s transition services agreements, pension and other postretirement plan expenses for inactive and corporate participants in the SUPERVALU Retirement Plan and certain other corporate costs to reflect the structure under which the Company is now managed. These changes primarily resulted in the recast of net expenses from the Company’s Retail Food segment to Corporate for all periods presented and as previously reported in the Company’s Annual Report on Form 10-K for the fiscal year ended February 23, 2013 and February 25, 2012. These changes did not revise or restate information previously reported in the Company’s Consolidated Financial Statements for any period, except for the Consolidated Segment Financial Information. | |||||||||||||||||||||||||||||||||||||||||
Transition Services Agreement Revision | |||||||||||||||||||||||||||||||||||||||||
During the second quarter of fiscal 2014, the Company revised its presentation of fees earned under its transition services agreements. The Company historically presented fees earned under its transition services agreements as a reduction of Selling and administrative expenses in the Consolidated Statements of Operations. The presentation of such fees earned has been revised and they are now reflected as revenue, within Net sales of Corporate in the Consolidated Statements of Operations and Consolidated Segment Financial Information, for all periods. The revision had the effect of increasing both Net sales and Gross profit, with a corresponding increase in Selling and administrative expenses. These revisions did not impact Operating earnings (loss), Earnings (loss) from continuing operations before income taxes, Net earnings (loss), cash flows, or financial position for any period reported. Management has determined that the change in presentation is not material to any period reported. Prior period amounts shown below have been revised to conform to the current period presentation. | |||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the reclassification of fees earned under transition services agreements on the Company’s Consolidated Statements of Operations for the comparative periods being presented in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
Year Ended February 23, 2013 | Year Ended February 25, 2012 | ||||||||||||||||||||||||||||||||||||||||
As Originally | % of Net | Revision | As Revised | % of Net | As Originally | % of Net | Revision | As | % of Net | ||||||||||||||||||||||||||||||||
Reported | sales | sales | Reported | sales | Revised | sales | |||||||||||||||||||||||||||||||||||
Net sales | $ | 17,097 | 100 | % | $ | 42 | $ | 17,139 | 100 | % | $ | 17,336 | 100 | % | $ | 47 | $ | 17,383 | 100 | % | |||||||||||||||||||||
Cost of sales | 14,803 | 86.6 | % | — | 14,803 | 86.4 | % | 14,926 | 86.1 | % | — | 14,926 | 85.9 | % | |||||||||||||||||||||||||||
Gross profit | 2,294 | 13.4 | % | 42 | 2,336 | 13.6 | % | 2,410 | 13.9 | % | 47 | 2,457 | 14.1 | % | |||||||||||||||||||||||||||
Selling and administrative expenses | 2,445 | 14.3 | % | 42 | 2,487 | 14.5 | % | 2,222 | 12.8 | % | 47 | 2,269 | 13.1 | % | |||||||||||||||||||||||||||
Goodwill and intangible asset impairment charges | 6 | — | — | 6 | — | 92 | 0.5 | % | — | 92 | 0.5 | % | |||||||||||||||||||||||||||||
Operating (loss) earnings | $ | (157 | ) | (0.9 | )% | $ | — | $ | (157 | ) | (0.9 | )% | $ | 96 | 0.6 | % | $ | — | $ | 96 | 0.6 | % | |||||||||||||||||||
The Company earned $42 and $47 of fees under a previous transition services agreement during fiscal 2013 and 2012, respectively. The Company’s previous transition services agreement with Albertson’s LLC was replaced with transition services agreements with each of NAI and Albertson’s LLC at the close of the NAI Banner Sale. See Note 14—Discontinued Operations and Divestitures for additional information regarding the Company’s transition services agreements. Fees earned under the transition services agreements are recognized as the administrative services are rendered, which align with the recognition of administrative expenses required to support the transition services agreements. | |||||||||||||||||||||||||||||||||||||||||
Segment Revision | |||||||||||||||||||||||||||||||||||||||||
The Company revised its segment presentation of Operating earnings for Retail Food and Corporate for results previously reported in the first quarter of fiscal 2014 to reflect certain allocated administrative costs as Retail Food costs as a part of the Company’s segment reclassification described above. The revision had the effect of decreasing Retail Food’s operating earnings by $20 as reported in the Company’s Quarterly Reports on Form 10-Q for the first quarter of fiscal 2014 and the year-to-date presentation of the results in the second and third quarters of fiscal 2014. A corresponding increase in Corporate operating earnings of $20 also occurred. The revision did not have an impact on consolidated Operating earnings for any period. Management has determined that the change in presentation is not material to any period reported. | |||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the segment revision of certain administrative costs in the Company’s Consolidated Segment Financial for the Quarterly Report on Form 10-Q for the period ended June 15, 2013. | |||||||||||||||||||||||||||||||||||||||||
First Quarter Ended | Year-to-Date Ended | Year-to-Date Ended | |||||||||||||||||||||||||||||||||||||||
June 15, 2013 | September 7, 2013 | November 30, 2013 | |||||||||||||||||||||||||||||||||||||||
As | Revision | As | As | Revision | As | As | Revision | As | |||||||||||||||||||||||||||||||||
Originally | Revised | Originally | Revised | Originally | Revised | ||||||||||||||||||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||||||||||||||||||
Operating earnings | |||||||||||||||||||||||||||||||||||||||||
Independent Business | $ | 55 | $ | — | $ | 55 | $ | 128 | $ | — | $ | 128 | $ | 181 | $ | — | $ | 181 | |||||||||||||||||||||||
% of Independent Business sales | 2.3 | % | — | % | 2.3 | % | 3 | % | — | % | 3 | % | 2.9 | % | — | % | 2.9 | % | |||||||||||||||||||||||
Save-A-Lot | 52 | — | 52 | 84 | — | 84 | 124 | — | 124 | ||||||||||||||||||||||||||||||||
% of Save-A-Lot sales | 4.1 | % | — | % | 4.1 | % | 3.7 | % | — | % | 3.7 | % | 3.8 | % | — | % | 3.8 | % | |||||||||||||||||||||||
Retail Food | 25 | (20 | ) | 5 | 32 | (20 | ) | 12 | 56 | (20 | ) | 36 | |||||||||||||||||||||||||||||
% of Retail Food sales | 1.7 | % | (1.4 | )% | 0.3 | % | 1.3 | % | (0.8 | )% | 0.5 | % | 1.6 | % | (0.6 | )% | 1 | % | |||||||||||||||||||||||
Corporate | (50 | ) | 20 | (30 | ) | (50 | ) | 20 | (30 | ) | (62 | ) | 20 | (42 | ) | ||||||||||||||||||||||||||
Total operating earnings | $ | 82 | $ | — | $ | 82 | $ | 194 | $ | — | $ | 194 | $ | 299 | $ | — | $ | 299 | |||||||||||||||||||||||
% of total net sales | 1.6 | % | — | % | 1.6 | % | 2.1 | % | — | % | 2.1 | % | 2.3 | % | — | % | 2.3 | % | |||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||||||||||||||||||
Revenues from product sales are recognized upon delivery for the Independent Business segment, at the point of sale for Save-A-Lot’s retail operations, and upon delivery for Save-A-Lot’s independent licensees, and at the point of sale for the Retail Food segment. Typically, invoicing, shipping, delivery and customer receipt of Independent Business product occur on the same business day. Revenues from services rendered are recognized immediately after such services have been provided. Discounts and allowances provided to customers by the Company at the time of sale, including those provided in connection with loyalty cards, are recognized as a reduction in Net sales as the products are sold to customers. Sales tax is excluded from Net sales. | |||||||||||||||||||||||||||||||||||||||||
Revenues and costs from third-party logistics operations are recorded gross when the Company is the primary obligor in a transaction, is subject to inventory or credit risk, has latitude in establishing price and selecting suppliers, or has several, but not all of these indicators. If the Company is not the primary obligor and amounts earned have little or no inventory or credit risk, revenue is recorded net as management fees when earned. | |||||||||||||||||||||||||||||||||||||||||
Cost of Sales | |||||||||||||||||||||||||||||||||||||||||
Cost of sales in the Consolidated Statements of Operations includes cost of inventory sold during the period, including purchasing, receiving, warehousing and distribution costs, and shipping and handling fees. | |||||||||||||||||||||||||||||||||||||||||
Save-A-Lot and Retail Food advertising expenses are a component of Cost of sales and are expensed as incurred. Save-A-Lot and Retail Food advertising expenses, net of cooperative advertising reimbursements, were $63, $86 and $69 for fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
The Company receives allowances and credits from vendors for volume incentives, promotional allowances and, to a lesser extent, new product introductions which are typically based on contractual arrangements covering a period of one year or less. The Company recognizes vendor funds for merchandising and buying activities as a reduction of Cost of sales when the related products are sold. Vendor funds that have been earned as a result of completing the required performance under the terms of the underlying agreements but for which the product has not yet been sold are recognized as reductions of inventory. When payments or rebates can be reasonably estimated and it is probable that the specified target will be met, the payment or rebate is accrued. However, when attaining the milestone is not probable, the payment or rebate is recognized only when and if the milestone is achieved. Any upfront payments received for multi-period contracts are generally deferred and amortized on a straight-line basis over the life of the contracts. | |||||||||||||||||||||||||||||||||||||||||
Selling and Administrative Expenses | |||||||||||||||||||||||||||||||||||||||||
Selling and administrative expenses consist primarily of store and corporate employee-related costs, such as salaries and wages, health and welfare, worker’s compensation and pension benefits, as well as rent, occupancy and operating costs, depreciation and amortization, impairment charges on property, plant and equipment and other administrative costs. | |||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||||||||||||||
The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. The Company’s banking arrangements allow the Company to fund outstanding checks when presented to the financial institution for payment. The Company funds all intraday bank balance overdrafts during the same business day. Checks outstanding in excess of bank balances create book overdrafts, which are recorded in Accounts payable in the Consolidated Balance Sheets and are reflected as an operating activity in the Consolidated Statements of Cash Flows. As of February 22, 2014 and February 23, 2013, the Company had net book overdrafts of $134 and $131, respectively. | |||||||||||||||||||||||||||||||||||||||||
Allowances for Losses on Receivables | |||||||||||||||||||||||||||||||||||||||||
Management makes estimates of the uncollectibility of its accounts and notes receivable portfolios. In determining the adequacy of the allowances, management analyzes the value of the collateral, customer financial statements, historical collection experience, aging of receivables and other economic and industry factors. It is possible that the accuracy of the estimation process could be materially impacted by different judgments, estimations and assumptions based on the information considered and result in a further deterioration of accounts and notes receivable. The allowance for losses on receivables was $9 and $5 at February 22, 2014 and February 23, 2013, respectively. Bad debt expense was $16, $11 and $6 in fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
Inventories, Net | |||||||||||||||||||||||||||||||||||||||||
Inventories are valued at the lower of cost or market. Substantially all of the Company’s inventory consists of finished goods. | |||||||||||||||||||||||||||||||||||||||||
The Company uses one of either replacement cost, weighted average cost, or the retail inventory method (“RIM”) to value discrete inventory items at lower of cost or market before application of any last-in, first-out (“LIFO”) reserve. As of February 22, 2014 and February 23, 2013, approximately 57 percent and 60 percent, respectively, of the Company’s inventories were valued under the LIFO method. | |||||||||||||||||||||||||||||||||||||||||
As of February 22, 2014 and February 23, 2013, approximately 5 percent of the Company’s inventories were valued under the replacement cost method before application of any LIFO reserve. The weighted average cost and RIM methods of inventory valuation together comprised approximately 52 percent and 55 percent of inventory as of February 22, 2014 and February 23, 2013, respectively, before application of any LIFO reserve. | |||||||||||||||||||||||||||||||||||||||||
Under the replacement cost method applied on a LIFO basis, the most recent purchase cost is used to calculate the current cost of inventory before application of any LIFO reserve. The replacement cost approach results in inventories being valued at the lower of cost or market because of the high inventory turnover and the resulting low inventory days supply on hand combined with infrequent vendor price changes for these items of inventory. | |||||||||||||||||||||||||||||||||||||||||
The Company uses one of either cost, weighted average cost, RIM or replacement cost to value certain discrete inventory items under the first-in, first-out method (“FIFO”). The replacement cost approach under the FIFO method is predominantly utilized in determining the value of high turnover perishable items, including Produce, Deli, Bakery, Meat and Floral. | |||||||||||||||||||||||||||||||||||||||||
As of February 22, 2014 and February 23, 2013, approximately 25 percent and 23 percent, respectively, of the Company’s inventories were valued using the cost, weighted average cost and RIM methods under the FIFO method of inventory accounting. The remaining 18 percent and 17 percent of the Company’s inventories as of February 22, 2014 and February 23, 2013, respectively, were valued using the replacement cost approach under the FIFO method of inventory accounting. The replacement cost approach applied under the FIFO method results in inventories recorded at the lower of cost or market because of the very high inventory turnover and the resulting low inventory days supply for these items of inventory. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2014, 2013 and 2012, inventory quantities in certain LIFO layers were reduced. These reductions resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of fiscal 2014, 2013 and 2012 purchases. As a result, Cost of sales decreased by $14, $6 and $9 in fiscal 2014, 2013 and 2012, respectively. If the FIFO method had been used to determine cost of inventories for which the LIFO method is used, the Company’s inventories would have been higher by approximately $202 and $211 as of February 22, 2014 and February 23, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||
The Company evaluates inventory shortages throughout each fiscal year based on actual physical counts in its facilities. Allowances for inventory shortages are recorded based on the results of these counts to provide for estimated shortages as of the end of each fiscal year. | |||||||||||||||||||||||||||||||||||||||||
Reserves for Closed Properties | |||||||||||||||||||||||||||||||||||||||||
The Company maintains reserves for costs associated with closures of retail stores, distribution centers and other properties that are no longer being utilized in current operations. The Company provides for closed property lease liabilities based on the present value of the remaining noncancellable lease payments after the closing date, reduced by estimated subtenant rentals that could be reasonably obtained for the property. | |||||||||||||||||||||||||||||||||||||||||
The closed property lease liabilities usually are paid over the remaining lease terms, which generally range from one to 15 years. Adjustments to closed property reserves primarily relate to changes in subtenant income or actual exit costs differing from original estimates. Adjustments are made for changes in estimates in the period in which the changes become known. | |||||||||||||||||||||||||||||||||||||||||
Business Dispositions | |||||||||||||||||||||||||||||||||||||||||
The Company reviews the presentation of planned business dispositions in the Consolidated Financial Statements based on the available information and events that have occurred. | |||||||||||||||||||||||||||||||||||||||||
The review consists of evaluating whether the business meets the definition as a component for which the operations and cash flows are clearly distinguishable from the other components of the business, and if so, whether it is anticipated that after the disposal the cash flows of the component would be eliminated from continuing operations and whether the Company will have any significant continuing involvement with the business. In addition, the Company evaluates whether the business has met the criteria to be classified as a business held for sale. In order for a planned disposition to be classified as a business held for sale, the established criteria must be met as of the reporting date, including an active program to market the business and the expected disposition of the business within one year. | |||||||||||||||||||||||||||||||||||||||||
Planned business dispositions are presented as discontinued operations when all the criteria described above are met. Operations of the business components meeting the discontinued operations requirements are presented within Income (loss) from discontinued operations, net of tax in the Consolidated Statements of Operations, and assets and liabilities of the business component planned to be disposed of are presented as separate lines within the Consolidated Balance Sheets. The estimated loss on the sale of NAI was recorded within Current liabilities of discontinued operations as of February 23, 2013. See Note 14—Discontinued Operations and Divestitures. | |||||||||||||||||||||||||||||||||||||||||
Businesses held for sale are reviewed for recoverability of the carrying value of the business upon meeting the classification requirements. Evaluating the recoverability of the assets of a business classified as held for sale follows a defined order in which property and intangible assets subject to amortization are considered only after the recoverability of goodwill, indefinite lived intangible assets and other assets are assessed. After the valuation process is completed, the held for sale business is reported at the lower of its carrying value or fair value less cost to sell, and no additional depreciation or amortization expense is recognized. The carrying value of a held for sale business includes the portion of the accumulated other comprehensive loss associated with pension and postretirement benefit obligations of the operations of the business. | |||||||||||||||||||||||||||||||||||||||||
There are inherent judgments and estimates used in determining impairment charges. The sale of a business can result in the recognition of a gain or loss that differs from that anticipated prior to closing. | |||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Net | |||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment are carried at cost. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Estimated useful lives generally are 10 to 40 years for buildings and major improvements, three to 10 years for equipment, and the shorter of the term of the lease or expected life for leasehold improvements and capitalized lease assets. Interest on property under construction of $1, $4 and $6 was capitalized in fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||||||||||||||
The Company reviews goodwill for impairment during the fourth quarter of each year, and also if events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. The reviews consist of comparing estimated fair value to the carrying value at the reporting unit level. The Company’s reporting units are the operating segments of the business which consist of Independent Business, Save-A-Lot and Retail Food. As of February 22, 2014, Goodwill balances existed in the Save-A-Lot and Independent Business reporting units. Fair values are determined by using both the market approach, applying a multiple of earnings based on the guideline publicly traded company method, and the income approach, discounting projected future cash flows based on management’s expectations of the current and future operating environment. The rates used to discount projected future cash flows reflect a weighted average cost of capital based on the Company’s industry, capital structure and risk premiums in each reporting unit including those reflected in the current market capitalization. If management identifies the potential for impairment of goodwill, the fair value of the implied goodwill is calculated as the difference between the fair value of the reporting unit and the fair value of the underlying assets and liabilities, excluding goodwill. An impairment charge is recorded for any excess of the carrying value over the implied fair value. | |||||||||||||||||||||||||||||||||||||||||
The Company reviews the composition of its reporting units on an annual basis and on an interim basis if events or circumstances indicate that the composition of the Company’s reporting units may have changed. There were no changes in the Company’s reporting units as a result of the fiscal 2014 and 2013 reviews. | |||||||||||||||||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||||||||||||||||
The Company also reviews intangible assets with indefinite useful lives, which primarily consist of trademarks and tradenames, for impairment during the fourth quarter of each year, and also if events or changes in circumstances indicate that the asset might be impaired. The reviews consist of comparing estimated fair value to the carrying value. Fair values of the Company’s trademarks and tradenames are determined primarily by discounting an assumed royalty value applied to management’s estimate of projected future revenues associated with the tradename using management’s expectations of the current and future operating environment. The royalty cash flows are discounted using rates based on the weighted average cost of capital discussed above and the specific risk profile of the tradenames relative to the Company’s other assets. These estimates are impacted by variable factors including inflation, the general health of the economy and market competition. The calculation of the impairment charge contains significant judgments and estimates including weighted average cost of capital and the specified risk profile of the tradename and future revenue and profitability. Refer to Note 2—Goodwill and Intangible Assets in the accompanying Notes to Consolidated Financial Statements for the results of the goodwill and intangible assets with indefinite useful lives testing performed during fiscal 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||||||||||||||||||||||||||
The Company monitors the recoverability of its long-lived assets such as buildings and equipment, and evaluates their carrying value for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. Events that may trigger such an evaluation include current period losses combined with a history of losses or a projection of continuing losses, a significant decrease in the market value of an asset or the Company’s plans for store closures. When such events or changes in circumstances occur, a recoverability test is performed by comparing projected undiscounted future cash flows to the carrying value of the group of assets being tested. | |||||||||||||||||||||||||||||||||||||||||
If impairment is identified for long-lived assets to be held and used, the fair value is compared to the carrying value of the group of assets and an impairment charge is recorded for the excess of the carrying value over the fair value. For long-lived assets that are classified as assets held for sale, the Company recognizes impairment charges for the excess of the carrying value plus estimated costs of disposal over the estimated fair value. Fair value is based on current market values or discounted future cash flows using Level 3 inputs. The Company estimates fair value based on the Company’s experience and knowledge of the market in which the property is located and, when necessary, utilizes local real estate brokers. The Company’s estimate of undiscounted cash flows attributable to the asset groups included only future cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset group. Long-lived asset impairment charges are a component of Selling and administrative expenses in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
The Company groups long-lived assets with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets, which historically has predominately been at the geographic market level but individual store asset groupings have been assessed in certain circumstances. Independent Business’s long-lived assets are reviewed for impairment at the distribution center level. Save-A-Lot’s long-lived assets are reviewed for impairment at the geographic market level for 11 geographic market groupings of individual corporate-owned stores and related dedicated distribution centers and individual corporate store level for 29 individual corporate stores which were part of previous asset groups for which management determined that the cash flows in those geographic market areas were no longer interdependent. Retail Food’s long-lived assets are reviewed for impairment at the geographic market group level for five geographic market groupings of individual retail stores. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company determined it would be more appropriate to evaluate long-lived assets for impairment at the store level for two geographic markets within the Save-A-Lot segment. These markets continued to show higher indicators of economic decline that led to revised operating market strategies, such as the identification of a significant number of stores for closure within one geographic market asset group and the determined that Save-A-Lot was no longer expanding or maintaining another geographic market group. As such, these geographic market groups were not generating joint cash flows from the operation of the asset group, resulting in the disaggregation of the asset groups. These asset group disaggregations triggered a store-level impairment review within these previous geographic market asset groups, which resulted in a non-cash impairment charge of approximately $8 in fiscal 2013. | |||||||||||||||||||||||||||||||||||||||||
Due to the ongoing business transformation and highly competitive environment, the Company will continue to evaluate its long-lived asset policy and current asset groups, to determine if additional modifications to the policy are necessary. Future changes to the Company’s assessment of its long-lived asset policy and changes in circumstances, operating results or other events may result in additional asset impairment testing and charges. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company announced the closure of approximately 22 non-strategic stores within the Save-A-Lot segment including the exit of a geographic market, resulting in an impairment of $16 related to these stores’ long-lived assets. See Note 3—Reserves for Closed Properties and Property, Plant and Equipment-Related Impairment Charges. | |||||||||||||||||||||||||||||||||||||||||
Deferred Rent | |||||||||||||||||||||||||||||||||||||||||
The Company recognizes rent holidays, including the time period during which the Company has access to the property prior to the opening of the site, as well as construction allowances and escalating rent provisions, on a straight-line basis over the term of the operating lease. The deferred rents are included in Other current liabilities and Other long-term liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||
Self-Insurance Liabilities | |||||||||||||||||||||||||||||||||||||||||
The Company uses a combination of insurance and self-insurance for workers’ compensation, automobile and general liability costs. It is the Company’s policy to record its insurance liabilities based on management’s estimate of the ultimate cost of reported claims and claims incurred but not yet reported and related expenses, discounted at a risk-free interest rate. The present value of such claims was calculated using discount rates ranging from 0.3 percent to 5.1 percent for fiscal 2014 and 0.4 percent to 5.1 percent for fiscal 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||
Changes in the Company’s insurance liabilities consisted of the following: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 97 | $ | 93 | $ | 96 | |||||||||||||||||||||||||||||||||||
Expense | 39 | 31 | 22 | ||||||||||||||||||||||||||||||||||||||
Claim payments | (33 | ) | (27 | ) | (25 | ) | |||||||||||||||||||||||||||||||||||
Ending balance | 103 | 97 | 93 | ||||||||||||||||||||||||||||||||||||||
Less current portion | (33 | ) | (27 | ) | (26 | ) | |||||||||||||||||||||||||||||||||||
Long-term portion | $ | 70 | $ | 70 | $ | 67 | |||||||||||||||||||||||||||||||||||
The current portion of reserves for self-insurance is included in Other current liabilities and the long-term portion is included in Other long-term liabilities in the Consolidated Balance Sheets. The insurance liabilities as of the end of the fiscal year are net of discounts of $7 as of February 22, 2014 and February 23, 2013. | |||||||||||||||||||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||||||||||||||||||
The Company recognizes the funded status of its Company sponsored defined benefit plans in its Consolidated Balance Sheets and gains or losses and prior service costs or credits not yet recognized as a component of Other comprehensive income (loss), net of tax, in the Consolidated Statements of Stockholders’ (Deficit) Equity. The Company sponsors pension and other postretirement plans in various forms covering substantially all employees who meet eligibility requirements. The determination of the Company’s obligation and related expense for Company-sponsored pension and other postretirement benefits is dependent, in part, on management’s selection of certain actuarial assumptions in calculating these amounts. These assumptions include, among other things, the discount rate, the expected long-term rate of return on plan assets and the rates of increase in compensation and healthcare costs. These assumptions are disclosed in Note 11—Benefit Plans. Actual results that differ from the assumptions are accumulated and amortized over future periods in accordance with generally accepted accounting standards. | |||||||||||||||||||||||||||||||||||||||||
The Company contributes to various multiemployer pension plans under collective bargaining agreements, primarily defined benefit pension plans. Pension expense for these plans is recognized as contributions are funded. See Note 11—Benefit Plans for additional information on the Company’s participation in those multiemployer plans. | |||||||||||||||||||||||||||||||||||||||||
The Company also contributes to several employee 401(k) retirement savings plans. | |||||||||||||||||||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||||||||||||||||||
The Company’s limited involvement with derivatives is primarily to manage its exposure to changes in energy prices utilized in the shipping process, and in the Company’s stores and warehouses. The Company uses derivatives only to manage well-defined risks. The Company does not use financial instruments or derivatives for any trading or other speculative purposes. The Company enters into energy commitments that it expects to utilize in the normal course of business. The fair value of the Company’s derivatives was insignificant as of February 22, 2014 and February 23, 2013. | |||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||||||||||||||||||
The Company uses the straight-line method to recognize stock-based compensation expense over the requisite service period related to each award. Stock-based compensation expense is measured by the fair value of the award on the date of grant, net of the estimated forfeiture rate. | |||||||||||||||||||||||||||||||||||||||||
The fair value of stock options is estimated as of the date of grant using the Black-Scholes option pricing model using Level 3 inputs. The estimation of the fair value of stock options incorporates certain assumptions, such as risk-free interest rate and expected volatility, dividend yield and life of options. | |||||||||||||||||||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||||||||||||||||||
Deferred income taxes represent future net tax effects resulting from temporary differences between the financial statement amounts and tax bases of assets and liabilities, and are measured using enacted tax rates in effect for the year in which the differences are expected to be settled or realized. See Note 8—Income Taxes for the types of differences that give rise to significant portions of deferred income tax assets and liabilities. Deferred income tax assets are reported as a current or noncurrent asset or liability based on the classification of the related asset or liability or according to the expected date of reversal. | |||||||||||||||||||||||||||||||||||||||||
The Company is currently in various stages of audits, appeals or other methods of review with authorities from various taxing jurisdictions. The Company establishes liabilities for unrecognized tax benefits in a variety of taxing jurisdictions when, despite management’s belief that the Company’s tax return positions are supportable, certain positions may be challenged and may need to be revised. The Company adjusts these liabilities in light of changing facts and circumstances, such as the progress of a tax audit. The Company also provides interest on these liabilities at the appropriate statutory interest rate, and accrues penalties as applicable. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties in Selling and administrative expenses in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
Net Earnings (Loss) Per Share | |||||||||||||||||||||||||||||||||||||||||
Basic net earnings (loss) per share is calculated using net earnings (loss) available to common stockholders divided by the weighted average number of shares outstanding during the period. Diluted net earnings (loss) per share is similar to basic net earnings per share except that the weighted average number of shares outstanding is computed after giving effect to the dilutive impacts of stock options, performance awards and restricted stock awards (collectively referred to as “stock-based awards”). | |||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||||||||||||||
The Company reports comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). Comprehensive income (loss) includes all changes in stockholders’ deficit during the applicable reporting period, other than those resulting from investments by and distributions to stockholders. The Company’s comprehensive income (loss) is calculated as net earnings (loss) plus or minus adjustments for pension and other postretirement benefit obligations, net of tax. | |||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss represents the cumulative balance of other comprehensive income (loss), net of tax, as of the end of the reporting period and relates to pension and other postretirement benefit obligation adjustments, net of tax. Changes in Accumulated other comprehensive loss by component follows below: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at beginning of the fiscal year, net of tax | $ | (612) | $ | (657) | $ | (446) | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit of $(85), $18 and $161, respectively | 202 | (20 | ) | (262 | ) | ||||||||||||||||||||||||||||||||||||
Amortization of amounts included in net periodic benefit cost, net of tax (expense) of $(38), $(40) and $(32), respectively | 55 | 65 | 51 | ||||||||||||||||||||||||||||||||||||||
Net current-period Other comprehensive income (loss), net of tax (expense) benefit of $(123), $(22) and $129, respectively | 257 | 45 | (211 | ) | |||||||||||||||||||||||||||||||||||||
Divestiture of NAI pension plan accumulated other comprehensive loss, net of tax (expense) of $(31) | 48 | — | — | ||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at the end of period, net of tax | $ | (307 | ) | $ | (612 | ) | $ | (657 | ) | ||||||||||||||||||||||||||||||||
Upon completion of the NAI Banner Sale in the first quarter of fiscal 2014, the Company disposed approximately $48 of Accumulated other comprehensive loss, which was a component of Stockholders’ deficit in the Consolidated Balance Sheets as of February 23, 2013, due to NAI’s assumption of a defined benefit pension plan established and operated under NAI. The accumulated other comprehensive loss assumed by NAI was a component of the preliminary estimated loss on the sale of NAI accrued in Current liabilities of discontinued operations in the Consolidated Balance Sheet as of February 23, 2013 and recognized in Income (loss) from discontinued operations, net of tax in fiscal 2013. Amortization of amounts included in net periodic benefit cost before tax were reclassified out of Accumulated other comprehensive loss into Selling and administrative expense in the Consolidated Statements of Operations. See Note 11—Benefit Plans for information regarding the recognition of pension and other postretirement benefit obligation activity within the Consolidated Statements of Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||
Common and Treasury Stock | |||||||||||||||||||||||||||||||||||||||||
Concurrent with the execution of the Stock Purchase Agreement, the Company entered into a Tender Offer Agreement (the “Tender Offer Agreement”) with Symphony Investors LLC, which is owned by a Cerberus Capital Management, L.P. (“Cerberus”)-led investor consortium (“Symphony Investors”), and Cerberus, pursuant to which, upon the terms and subject to the conditions of the Tender Offer Agreement, and contingent upon the NAI Banner Sale, Symphony Investors tendered for up to 30 percent of the issued and outstanding common stock of the Company at a purchase price of $4.00 per share in cash (the “Tender Offer”). Approximately 12 shares were validly tendered, representing approximately 5.5 percent of the issued and outstanding shares at the time of the Tender Offer expiration on March 20, 2013. All shares that were validly tendered and not properly withdrawn were accepted as tendered in accordance with the terms of Tender Offer. | |||||||||||||||||||||||||||||||||||||||||
In addition, pursuant to the terms of the Tender Offer Agreement, on March 21, 2013, the Company issued approximately 42 additional shares of common stock (approximately 19.9 percent of outstanding shares prior to the share issuance) to Symphony Investors at the Tender Offer price per share of $4.00, resulting in $170 in cash proceeds to the Company, which brought Symphony Investors ownership percentage to 21.2 percent after the share issuance. The Tender Offer Agreement provides that until the second anniversary of the closing of the Tender Offer, transfers of shares acquired by Symphony Investors in the Tender Offer and from the Company pursuant to the Tender Offer Agreement will be generally restricted, with more limited restrictions thereafter. Following that period, the Company has agreed to customary obligations to register the shares acquired by Symphony Investors with the Securities and Exchange Commission if requested by Symphony Investors. | |||||||||||||||||||||||||||||||||||||||||
Recently Adopted Accounting Standards | |||||||||||||||||||||||||||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance under ASU 2013-02 surrounding the presentation of items reclassified from accumulated other comprehensive income (loss) to net earnings (loss). This guidance requires entities to disclose, either in the notes to the consolidated financial statements or parenthetically on the face of the statement that reports comprehensive income (loss), items reclassified out of accumulated other comprehensive income (loss) and into net earnings (loss) in their entirety by component, and the effect of the reclassification on each affected Consolidated Statement of Operations line item. In addition, for accumulated other comprehensive income (loss) reclassification items that are not reclassified in their entirety into net earnings (loss), a cross reference to other required accounting standard disclosures is required. The Company adopted ASU 2013-02 in fiscal 2014. Accordingly, additional footnote disclosure is provided within Note 1—Summary of Significant Accounting Policies in these Notes to Consolidated Financial Statements. The adoption had no effect on the Company’s results of operations or financial position. | |||||||||||||||||||||||||||||||||||||||||
Recently Issued Accounting Standards | |||||||||||||||||||||||||||||||||||||||||
In July 2013, the FASB issued authoritative guidance under ASU 2013-11, which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This accounting standard update requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. ASU 2013-11 will be effective for the Company’s first quarter of fiscal 2015. The Company is currently evaluating the impact of this accounting standard update on its Consolidated Financial Statements. |
GOODWILL_AND_INTANGIBLE_ASSETS
GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
GOODWILL AND INTANGIBLE ASSETS | ' | ||||||||||||||||||||||||||||||||||||
NOTE 2—GOODWILL AND INTANGIBLE ASSETS | |||||||||||||||||||||||||||||||||||||
Changes in the Company’s Goodwill and Intangible assets, net consisted of the following: | |||||||||||||||||||||||||||||||||||||
February 25, | Additions | Impairments | Other net | February 23, | Additions | Impairments | Other net | February 22, | |||||||||||||||||||||||||||||
2012 | adjustments | 2013 | adjustments | 2014 | |||||||||||||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||||||||||||||
Independent Business goodwill | $ | 710 | $ | — | $ | — | $ | — | $ | 710 | $ | — | $ | — | $ | — | $ | 710 | |||||||||||||||||||
Save-A-Lot goodwill | 137 | — | — | — | 137 | — | — | — | 137 | ||||||||||||||||||||||||||||
Total goodwill | $ | 847 | $ | — | $ | — | — | $ | 847 | $ | — | $ | — | — | $ | 847 | |||||||||||||||||||||
February 25, | Additions | Impairments | Other net | February 23, | Additions | Impairments | Other net | February 22, | |||||||||||||||||||||||||||||
2012 | adjustments | 2013 | adjustments | 2014 | |||||||||||||||||||||||||||||||||
Intangible assets: | |||||||||||||||||||||||||||||||||||||
Customer lists, customer relationships, favorable operating leases and other (accumulated amortization of $78 and $65 as of February 22, 2014 and February 23, 2013, respectively) | $ | 105 | $ | 1 | $ | — | $ | — | $ | 106 | $ | — | $ | — | $ | 5 | $ | 111 | |||||||||||||||||||
Trademarks and tradenames—indefinite useful lives | 14 | — | (6 | ) | 1 | 9 | — | — | — | 9 | |||||||||||||||||||||||||||
Non-compete agreements (accumulated amortization of $2 and $2 as of February 22, 2014 and February 23, 2013, respectively) | 3 | — | — | — | 3 | — | — | — | 3 | ||||||||||||||||||||||||||||
Total intangible assets | 122 | 1 | (6 | ) | 1 | 118 | — | — | 5 | 123 | |||||||||||||||||||||||||||
Accumulated amortization | (58 | ) | (8 | ) | — | (1 | ) | (67 | ) | (8 | ) | — | (5 | ) | (80 | ) | |||||||||||||||||||||
Total intangible assets, net | $ | 64 | $ | 51 | $ | 43 | |||||||||||||||||||||||||||||||
The Company applies a fair value based impairment test to the net book value of goodwill and intangible assets with indefinite useful lives on an annual basis and on an interim basis if events or circumstances indicate that an impairment loss may have occurred. | |||||||||||||||||||||||||||||||||||||
The Company conducted an annual impairment test of the net book value of goodwill and intangible assets with indefinite useful lives during the fourth quarter of fiscal 2014, which indicated the fair value of the Independent Business reporting unit exceeded its carrying value by approximately 75 percent, the fair value of the Save-A-Lot reporting unit was in excess of 100 percent of its carrying value and the fair value of intangible assets with indefinite useful lives was in excess of their carrying value. In fiscal 2013, recoverability tests of indefinite-lived tradename intangibles indicated the carrying value of a tradename within the Independent Business segment was not recoverable, which resulted in a pre-tax impairment charge of $6. | |||||||||||||||||||||||||||||||||||||
During the third and fourth quarter of fiscal 2012, the Company’s stock price experienced a significant and sustained decline, cash flows of the Company’s Retail Food segment continued to decline and the book value per share substantially exceeded the stock price. As a result, the Company performed reviews of goodwill and intangible assets with indefinite useful lives for impairment, which indicated that the carrying value of Retail Food’s goodwill exceeded its estimated fair value. The Company recorded a non-cash goodwill impairment charge of $92 during fiscal 2012 in the Retail Food segment due to the significant and sustained decline in the Company’s market capitalization and updated discounted cash flows. The calculation of the impairment charges contains significant judgments and estimates including weighted average cost of capital, future revenue, profitability, cash flows and fair values of assets and liabilities. | |||||||||||||||||||||||||||||||||||||
Amortization expense of intangible assets with definite useful lives of $8 was recorded in fiscal 2014, 2013 and 2012. Future amortization expense will average approximately $5 per year for the next five years. |
RESERVES_FOR_CLOSED_PROPERTIES
RESERVES FOR CLOSED PROPERTIES AND PROPERTY, PLANT AND EQUIPMENT-RELATED IMPAIRMENT CHARGES | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
RESERVES FOR CLOSED PROPERTIES AND PROPERTY, PLANT AND EQUIPMENT-RELATED IMPAIRMENT CHARGES | ' | ||||||||||||
NOTE 3—RESERVES FOR CLOSED PROPERTIES AND PROPERTY, PLANT AND EQUIPMENT-RELATED IMPAIRMENT CHARGES | |||||||||||||
Reserves for Closed Properties | |||||||||||||
The Company maintains reserves for costs associated with closures of retail stores, distribution centers and other properties that are no longer being utilized in current operations. The Company provides for closed property operating lease liabilities using a discount rate to calculate the present value of the remaining noncancellable lease payments after the closing date, reduced by estimated subtenant rentals that could be reasonably obtained for the property. Adjustments to closed property reserves primarily relate to changes in subtenant income or actual exit costs differing from original estimates. | |||||||||||||
Changes in the Company’s reserves for closed properties consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 61 | $ | 72 | $ | 96 | |||||||
Additions | 4 | 16 | 9 | ||||||||||
Payments | (16 | ) | (22 | ) | (26 | ) | |||||||
Adjustments | (2 | ) | (5 | ) | (7 | ) | |||||||
Ending balance | $ | 47 | $ | 61 | $ | 72 | |||||||
Property, Plant and Equipment and Lease Reserve Impairment Charges | |||||||||||||
Property, plant and equipment and lease reserve impairment charges are recorded as a component of Selling and administrative expenses in the Consolidated Statements of Operations. The calculation of the closed property charges requires significant judgments and estimates including estimated subtenant rentals, discount rates, and future cash flows based on the Company’s experience and knowledge of the market in which the closed property is located, and previous efforts to dispose of similar assets and existing market conditions. | |||||||||||||
In fiscal 2014, property, plant and equipment-related assets with a carrying amount of $45 were written down to their fair value of $21, resulting in impairment charges of $24. Fiscal 2014 impairment charges primarily related to software projects primarily within the Retail Food segment, distribution centers within Independent Business and previously impaired Save-A-Lot stores. In fiscal 2013, property, plant and equipment-related assets with a carrying amount of $291 were written down to their fair value of $40, resulting in impairment charges of $251. Fiscal 2013 impairment charges primarily related to certain capital projects in process, mainly related to software under development, and certain other software support tools that the executive management team determined the Company would abandon, all within the Retail Food segment and Corporate, and the announced closing of approximately 22 non-strategic Save-A-Lot stores. In fiscal 2012, property, plant and equipment-related assets with a carrying amount of $10 were written down to their fair value of $7, resulting in impairment charges of $3. Property, plant and equipment and favorable operating lease intangible related impairment charges were measured at fair value on a nonrecurring basis using Level 3 inputs and are a component of Selling and administrative expenses in the Consolidated Statements of Operations. | |||||||||||||
Due to the announced the closure of approximately 22 non-strategic Save-A-Lot stores, impairment charges of $10 were recorded in fiscal 2013 related to these closed stores’ operating leases in the Save-A-Lot segment. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 12 Months Ended | ||||||||
Feb. 22, 2014 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
PROPERTY, PLANT AND EQUIPMENT | ' | ||||||||
NOTE 4—PROPERTY, PLANT AND EQUIPMENT | |||||||||
Property, plant and equipment, net, consisted of the following: | |||||||||
2014 | 2013 | ||||||||
Land | $ | 97 | $ | 100 | |||||
Buildings | 1,224 | 1,294 | |||||||
Property under construction | 34 | 37 | |||||||
Leasehold improvements | 693 | 688 | |||||||
Equipment | 1,959 | 2,733 | |||||||
Capitalized lease assets | 315 | 335 | |||||||
Total property, plant and equipment | 4,322 | 5,187 | |||||||
Accumulated depreciation | (2,618 | ) | (3,277 | ) | |||||
Accumulated amortization on capitalized lease assets | (207 | ) | (210 | ) | |||||
Total property, plant and equipment, net | $ | 1,497 | $ | 1,700 | |||||
Depreciation expense was $275, $333 and $321 for fiscal 2014, 2013 and 2012, respectively. Amortization expense related to capitalized lease assets was $19, $23 and $26 for fiscal 2014, 2013 and 2012, respectively. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 12 Months Ended | ||||||
Feb. 22, 2014 | |||||||
Fair Value Disclosures [Abstract] | ' | ||||||
FAIR VALUE MEASUREMENTS | ' | ||||||
NOTE 5—FAIR VALUE MEASUREMENTS | |||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair value measurements, as follows: | |||||||
Level 1 | - | Quoted prices in active markets for identical assets or liabilities; | |||||
Level 2 | - | Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; | |||||
Level 3 | - | Unobservable inputs in which little or no market activity exists, requiring an entity to develop its own assumptions that market participants would use to value the asset or liability. | |||||
Impairment charges related to lease reserves and properties held and used and held for sale recorded during fiscal 2014, 2013 and 2012 discussed in Note 3—Reserves for Closed Properties and Property, Plant and Equipment-Related Impairment Charges were measured at fair value using Level 3 inputs. Goodwill and intangible asset impairment charges recorded during fiscal 2013 and 2012 discussed in Note 2—Goodwill and Intangible Assets were measured at fair value using Level 3 inputs. Discontinued operations property, plant and equipment impairment charges and finalization adjustments recorded in fiscal 2014 and 2013, related to NAI which were recorded in Income from discontinued operations, net of tax, and are discussed in Note 14—Discontinued Operations and Divestitures were measured at fair value using Level 3 inputs. | |||||||
Financial Instruments | |||||||
For certain of the Company’s financial instruments, including cash and cash equivalents, receivables, accounts payable, accrued salaries and other current assets and liabilities, the fair values approximate carrying values due to their short maturities. | |||||||
The estimated fair value of notes receivable was greater than the carrying value by $2 as of February 22, 2014 and February 23, 2013. The estimated fair value of notes receivable was calculated using a discounted cash flow approach applying a market rate for similar instruments using Level 3 inputs. | |||||||
The estimated fair value of the Company’s long-term debt (including current maturities) was greater than the book value by approximately $83 and $57 as of February 22, 2014 and February 23, 2013, respectively. The estimated fair value was based on market quotes, where available, or market values for similar instruments, using Level 2 and 3 inputs. |
LONGTERM_DEBT
LONG-TERM DEBT | 12 Months Ended | ||||||||
Feb. 22, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
LONG-TERM DEBT | ' | ||||||||
NOTE 6—LONG-TERM DEBT | |||||||||
The Company’s long-term debt consisted of the following: | |||||||||
February 22, | February 23, | ||||||||
2014 | 2013 | ||||||||
4.50% Secured Term Loan Facility due March 2019 | $ | 1,474 | $ | — | |||||
8.00% Senior Notes due May 2016 | 628 | 1,000 | |||||||
6.75% Senior Notes due June 2021 | 400 | — | |||||||
2.17% to 4.25% Revolving ABL Credit Facility due March 2018 | — | — | |||||||
8.00% Secured Term Loan Facility due August 2018 | — | 834 | |||||||
7.50% Senior Notes due November 2014 | — | 490 | |||||||
2.21% to 4.25% Revolving ABL Credit Facility due August 2017 | — | 207 | |||||||
Accounts Receivable Securitization Facility | — | 40 | |||||||
Other | 18 | 28 | |||||||
Net discount on debt, using effective interest rates of 4.63% to 8.58% | (16 | ) | (40 | ) | |||||
Total debt | 2,504 | 2,559 | |||||||
Less current maturities of long-term debt | (18 | ) | (19 | ) | |||||
Long-term debt | $ | 2,486 | $ | 2,540 | |||||
Future maturities of long-term debt, excluding the net discount on debt, as of February 22, 2014 consist of the following: | |||||||||
Fiscal Year | |||||||||
2015 | $ | 18 | |||||||
2016 | 15 | ||||||||
2017 | 643 | ||||||||
2018 | 15 | ||||||||
2019 | 15 | ||||||||
Thereafter | 1,814 | ||||||||
The Company’s credit facilities and certain long-term debt agreements have restrictive covenants and cross-default provisions which generally provide, subject to the Company’s right to cure, for the acceleration of payments due in the event of a breach of a covenant or a default in the payment of a specified amount of indebtedness due under certain other debt agreements. The Company was in compliance with all such covenants and provisions for all periods presented. | |||||||||
Senior Secured Credit Agreements | |||||||||
As of February 23, 2013, there were borrowings outstanding under the Company’s six-year $850 term loan due August 2018 (the “Secured Term Loan Facility due August 2018”) of $834 at the rate of LIBOR plus 6.75 percent and including a LIBOR floor of 1.25 percent, of which $9 was classified as current. The Secured Term Loan Facility due August 2018 was also guaranteed by the Company’s material subsidiaries. To secure their obligations under the Secured Term Loan Facility due August 2018, the Company and the guarantors granted a perfected first-priority mortgage lien and security interest for the benefit of the facility lenders in certain of their owned or ground-leased real estate and the equipment located on such real estate. As of February 23, 2013, there was $302 of owned or ground-leased real estate and associated equipment pledged as collateral, classified as Property, plant and equipment, net as well as $767 of assets included in Long-term assets of discontinued operations in the Consolidated Balance Sheets. In addition, the obligations under the Secured Term Loan Facility due August 2018 were secured by second-priority secured interests in the collateral securing the five-year $1,650 asset-based revolving credit facility (the “Revolving ABL Credit Facility due August 2017”), subject to certain limitations to ensure compliance with the Company’s outstanding debt instruments and leases. | |||||||||
On March 21, 2013, the Company entered into (i) an amended and restated five-year $1,000 (subject to borrowing base availability) asset-based revolving credit facility, which pursuant to an accordion feature may be increased to $1,250 upon our request and subject to the agreement of the lenders participating in the increase (the “Revolving ABL Credit Facility due March 2018”), secured by the Company’s inventory, credit card receivables and certain other assets, which bears interest at the rate of LIBOR plus 1.75 percent to LIBOR plus 2.25 percent or prime plus 0.75 percent to 1.25 percent, with facility fees ranging from 0.25 percent to 0.375 percent, depending on utilization and (ii) a new six-year $1,500 term loan (the “Secured Term Loan Facility due March 2019”), secured by substantially all of the Company’s real estate, equipment and certain other assets, which bears interest at the rate of LIBOR plus 5.00 percent and includes a floor on LIBOR set at 1.25 percent (collectively, the “Refinancing Transactions”). The proceeds of the Refinancing Transactions were used to replace the Company’s Revolving ABL Credit Facility due August 2017, the Secured Term Loan Facility due August 2018 and the $200 accounts receivable securitization facility, and refinanced the $490 of 7.50 percent senior notes due November 2014. | |||||||||
Certain of the Company’s material subsidiaries are co-borrowers under the Revolving ABL Credit Facility due March 2018, and this facility is guaranteed by the rest of the Company’s material subsidiaries (the Company and those subsidiaries named as borrowers and guarantors under the Revolving ABL Credit Facility due March 2018, the “ABL Loan Parties”). To secure their obligations under this facility, the ABL Loan Parties have granted a perfected first-priority security interest for the benefit of the facility lenders in its present and future inventory, credit card, wholesale trade, pharmacy and certain other receivables, prescription files and related assets. In addition, the obligations under the Revolving ABL Credit Facility due March 2018 are secured by second-priority liens on and security interests in the collateral securing the Secured Term Loan Facility due March 2019, subject to certain limitations to ensure compliance with the Company’s outstanding debt instruments and leases. | |||||||||
As of February 22, 2014, there were no outstanding borrowings under the Revolving ABL Credit Facility due March 2018. Facility fees under this facility were 0.375 percent. Letters of credit outstanding under the Revolving ABL Credit Facility due March 2018 were $101 at fees up to 2.125 percent and the unused available credit under this facility was $786. As of February 22, 2014, the Revolving ABL Credit Facility due March 2018 was secured on a first priority basis by $1,066 of assets included in Inventories, net, all eligible receivables included in Receivables, net, all of the Company’s pharmacy scripts included in Intangible assets, net and all credit card receivables of wholly-owned stores included in Cash and cash equivalents in the Consolidated Balance Sheets. The maturity date of the Revolving ABL Credit Facility due March 2018 is subject to a springing maturity date that is 90 days prior to May 1, 2016, if more than $250 of the 8.00 percent Senior Notes due 2016 remain outstanding as of that date. Refer to Note 15—Subsequent Events for information regarding the Company’s subsequent amendment to the Revolving ABL Credit Facility due March 2018. | |||||||||
The revolving loans under the Revolving ABL Credit Facility due March 2018 may be voluntarily prepaid in certain minimum principal amounts, in whole or in part, without premium or penalty, subject to breakage or similar costs. The Company and those subsidiaries named as borrowers under the Revolving ABL Credit Facility due March 2018 are required to repay the revolving loans in cash and provide cash collateral under this facility to the extent that the revolving loans and letters of credit exceed the lesser of the borrowing base then in effect or the aggregate amount of the lenders’ commitments under the Revolving ABL Credit Facility due March 2018. During fiscal 2014, the Company borrowed $3,803 and repaid $4,010 under its Revolving ABL Credit Facility due August 2017 and Revolving ABL Credit Facility due March 2018. During fiscal 2013, the Company borrowed $2,291 and repaid $2,111 under its previous revolving credit facility, which was refinanced in August 2012, and its Revolving ABL Credit Facility due August 2017. | |||||||||
The Secured Term Loan Facility due March 2019 is also guaranteed by the Company’s material subsidiaries (together with the Company, the “Term Loan Parties”). To secure their obligations under the Secured Term Loan Facility due March 2019, the Company granted a perfected first-priority security interest for the benefit of the facility lenders in the Term Loan Parties’ equity interest in Moran Foods, LLC, the parent entity of the Company’s Save-A-Lot business, and the Term Loan Parties granted a perfected first priority security interest in substantially all of their intellectual property and a first priority mortgage lien and security interest in certain owned or ground leased real estate and certain additional equipment. As of February 22, 2014, there was $704 of owned or ground-leased real estate and associated equipment pledged as collateral, classified as Property, plant and equipment, net in the Consolidated Balance Sheets. In addition, the obligations of the Term Loan Parties under the Secured Term Loan Facility due March 2019 are secured by second-priority security interests in the collateral securing the Revolving ABL Credit Facility due March 2018. | |||||||||
The loans under the Secured Term Loan Facility due March 2019 may be voluntarily prepaid in certain minimum principal amounts, subject to the payment of breakage or similar costs and, in certain circumstances, a prepayment fee. Pursuant to the Secured Term Loan Facility due March 2019, the Company must, subject to certain customary reinvestment rights, apply 100 percent of Net Cash Proceeds (as defined in the facility) from certain types of asset sales (excluding proceeds of the collateral security of the Revolving ABL Credit Facility due March 2018 and other secured indebtedness) to prepay the loans outstanding under the Secured Term Loan Facility due March 2019. Beginning with the fiscal year ended February 22, 2014, the Company must prepay loans outstanding under the facility no later than 90 days after the fiscal year end in an aggregate principal amount equal to a percentage (which percentage ranges from 0 to 50 percent depending on the Company’s Total Secured Leverage Ratio (as defined in the facility) as of the last day of such fiscal year) of Excess Cash Flow (as defined in the facility) for the fiscal year then ended minus any voluntary prepayments made during such fiscal year with Internally Generated Cash (as defined in the facility). Based on the Company’s Excess Cash Flow for the fiscal year ended February 22, 2014, no prepayment will be required. The potential amount of prepayment from Excess Cash Flow that will be required for fiscal 2015 is not reasonably estimable. As of February 22, 2014, the loans outstanding under the Secured Term Loan Facility due March 2019 had a remaining principal balance of $1,474, none of which was classified as current. | |||||||||
In connection with the Refinancing Transactions, the Company paid financing costs of approximately $76 during fiscal 2014, of which approximately $61 was capitalized and $15 was expensed. In addition, the Company recognized a non-cash charge of approximately $38 for the write-off of existing unamortized financing costs and $22 for the accelerated amortization of original issue discount on the refinanced debt instruments. | |||||||||
On May 16, 2013, the Company entered into an amendment to the Secured Term Loan Facility due March 2019 (the “Term Loan Amendment”) that reduced the interest rate for the term loan from LIBOR plus 5.00 percent with a floor on LIBOR set at 1.25 percent to LIBOR plus 4.00 percent with a floor on LIBOR set at 1.00 percent. The Term Loan Amendment also amended the Secured Term Loan Facility due March 2019 to provide that the Company may incur additional term loans under the facility in an aggregate principal amount of up to $500 instead of $250 as in effect prior to the Term Loan Amendment, subject to identifying term loan lenders or other institutional lenders willing to provide the additional loans and the satisfaction of certain terms and conditions. The Term Loan Amendment also contains modified covenants to give the Company additional strategic and operational flexibility. Since the Secured Term Loan Facility due March 2019 was refinanced within the first year of its inception, the Company paid the lenders thereunder a 1.00 percent refinancing premium per the terms of the facility. In connection with the completion of the Term Loan Amendment, the Company paid premiums and financing costs of approximately $17 during fiscal 2014, of which approximately $10 was capitalized and $7 was expensed. In addition, the Company recognized a non-cash charge of approximately $20 for the write-off of existing unamortized financing costs and $7 for the accelerated amortization of original issue discount on the Secured Term Loan Facility due March 2019 during fiscal 2014. | |||||||||
On January 31, 2014, the Company entered into a second amendment to the Secured Term Loan Facility due March 2019 (the “Second Term Loan Amendment”) that further reduced the interest rate for the term loan from LIBOR plus 4.00 percent to LIBOR plus 3.50 percent with the floor on LIBOR remaining at 1.00 percent. The Second Term Loan Amendment also eliminated the springing maturity provision that would have accelerated the maturity of the facility to 90 days prior to May 1, 2016 if more than $250 of the 2016 Senior Notes (defined below) remained outstanding as of that date. In addition, the amendment increased the Company’s flexibility to make future investments permitted under the Secured Term Loan Facility due March 2019. In connection with the completion of the Second Term Loan Amendment, the Company paid and expensed financing costs of approximately $4 during the fiscal fourth quarter ended February 22, 2014. In addition, the Company recognized a non-cash charge of approximately $1 for the write-off of existing unamortized financing costs and accelerated amortization of the original issue discount on the Secured Term Loan Facility due March 2019 during the fourth quarter ended February 22, 2014. | |||||||||
Debentures | |||||||||
On May 21, 2013, the Company completed a modified “Dutch Auction” tender offer (the “Debt Tender Offer”) to purchase up to $372 aggregate principal amount of its outstanding 8.00 percent Senior Notes due 2016 (the “2016 Senior Notes”), in accordance with the terms and subject to the conditions set forth in an Offer to Purchase dated May 2, 2013 and the accompanying Letter of Transmittal. On May 15, 2013 (the “Early Tender Time”), an aggregate principal amount of $372 of the 2016 Senior Notes were validly tendered (and not validly withdrawn) pursuant to the Debt Tender Offer. All notes validly tendered (and not validly withdrawn) pursuant to the Debt Tender Offer at or prior to the Early Tender Time were accepted for purchase and settled by the Company on May 21, 2013. As a result of the Debt Tender Offer being fully subscribed at the Early Tender Time, no 2016 Senior Notes tendered after the Early Tender Time were accepted for purchase. | |||||||||
On May 21, 2013, the Company issued $400 of 6.75 percent Senior Notes due June 2021 (the “2021 Senior Notes”). The Company filed a registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”) for the exchange of registered 2021 Senior Notes for any and all unregistered 2021 Senior Notes that were issued on May 21, 2013. The exchange offer was completed on December 19, 2013, with all unregistered 2021 Senior Notes that were issued on May 21, 2013 being exchanged for registered 2021 Senior Notes. In connection with the Debt Tender Offer and the issuance of the 2021 Senior Notes, the Company paid financing costs and tender premiums of approximately $52 during the first quarter ended June 15, 2013, of which approximately $3 was capitalized and $49 was expensed. In addition, the Company recognized non-cash charges of $11 for the write-off of existing unamortized financing costs and accelerated amortization of original issue discount on the Secured Term Loan Facility due March 2019 during fiscal 2014. | |||||||||
The remaining $628 of 2016 Senior Notes and the $400 of 2021 Senior Notes contain operating covenants, including limitations on liens and on sale and leaseback transactions. The Company was in compliance with all such covenants and provisions for all periods presented. | |||||||||
Other | |||||||||
Prior to the completion of the Refinancing Transactions and at February 23, 2013, the Company had the ability to borrow up to $200 on a revolving basis under its accounts receivable securitization facility, with borrowings secured by eligible accounts receivable, which remained under the Company’s control. As of February 23, 2013, there was $40 of outstanding borrowings under this facility at 1.98 percent. Facility fees on the unused portion were 0.70 percent. As of February 23, 2013, there was $282 of accounts receivable pledged as collateral, classified in Receivables, net, in the Consolidated Balance Sheet. As discussed above, this facility was repaid and terminated on March 21, 2013 in connection with the Refinancing Transactions. | |||||||||
As of February 23, 2013, the Company had $18 of debt with current maturities that were classified as long-term debt due to the Company’s intent to refinance such obligations with the Revolving ABL Credit Facility due March 2018 or other long-term debt. |
LEASES
LEASES | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
LEASES | ' | ||||||||||||
NOTE 7—LEASES | |||||||||||||
The Company leases most of its retail stores and certain distribution centers, office facilities and equipment from third parties. Many of these leases include renewal options and, to a limited extent, include options to purchase. Future minimum lease payments to be made by the Company for noncancellable operating leases and capital leases as of February 22, 2014, consist of the following: | |||||||||||||
Lease Obligations | |||||||||||||
Fiscal Year | Operating | Capital | |||||||||||
Leases | Leases | ||||||||||||
2015 | $ | 122 | $ | 51 | |||||||||
2016 | 116 | 48 | |||||||||||
2017 | 99 | 44 | |||||||||||
2018 | 79 | 41 | |||||||||||
2019 | 60 | 39 | |||||||||||
Thereafter | 150 | 169 | |||||||||||
Total future minimum obligations | $ | 626 | 392 | ||||||||||
Less interest | (119 | ) | |||||||||||
Present value of net future minimum obligations | 273 | ||||||||||||
Less current capital lease obligations | (27 | ) | |||||||||||
Long-term capital lease obligations | $ | 246 | |||||||||||
Total future minimum obligations have not been reduced for future minimum subtenant rentals of $69 under certain operating subleases. | |||||||||||||
Rent expense and subtenant rentals under operating leases consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Minimum rent | $ | 129 | $ | 127 | $ | 118 | |||||||
Contingent rent | 5 | 6 | 2 | ||||||||||
Rent expense | 134 | 133 | 120 | ||||||||||
Subtenant rentals | (13 | ) | (13 | ) | (15 | ) | |||||||
Total net rent expense | $ | 121 | $ | 120 | $ | 105 | |||||||
The Company leases certain property to third parties under both operating and direct financing leases. Under the direct financing leases, the Company leases buildings to independent retail customers with terms ranging from one to six years. Future minimum lease and subtenant rentals under noncancellable leases as of February 22, 2014, consist of the following: | |||||||||||||
Lease Receipts | |||||||||||||
Fiscal Year | Operating | Direct | |||||||||||
Leases | Financing | ||||||||||||
Leases | |||||||||||||
2015 | $ | 3 | $ | 2 | |||||||||
2016 | 2 | 2 | |||||||||||
2017 | 2 | 1 | |||||||||||
2018 | 2 | — | |||||||||||
2019 | 1 | — | |||||||||||
Thereafter | 1 | — | |||||||||||
Total minimum lease receipts | $ | 11 | 5 | ||||||||||
Less unearned income | (1 | ) | |||||||||||
Net investment in direct financing leases | 4 | ||||||||||||
Less current portion | (1 | ) | |||||||||||
Long-term portion | $ | 3 | |||||||||||
The carrying value of owned property leased to third parties under operating leases was as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Property, plant and equipment | $ | 4 | $ | 4 | |||||||||
Less accumulated depreciation | (3 | ) | (3 | ) | |||||||||
Property, plant and equipment, net | $ | 1 | $ | 1 | |||||||||
INCOME_TAXES
INCOME TAXES | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
INCOME TAXES | ' | ||||||||||||
NOTE 8—INCOME TAXES | |||||||||||||
The provision for income taxes consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current | |||||||||||||
Federal | $ | 30 | $ | -98 | $ | (92) | |||||||
State | 5 | -9 | -8 | ||||||||||
Total current | 35 | -107 | -100 | ||||||||||
Deferred | (30 | ) | -56 | 59 | |||||||||
Total income tax provision (benefit) | $ | 5 | $ | (163) | $ | -41 | |||||||
The difference between the actual tax provision (benefit) and the tax provision computed by applying the statutory federal income tax rate to Earnings (loss) from continuing operations before income taxes is attributable to the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal taxes based on statutory rate | $ | 4 | $ | (149 | ) | $ | (53 | ) | |||||
State income taxes, net of federal benefit | — | (13 | ) | (9 | ) | ||||||||
Goodwill and intangible asset impairment | — | — | 32 | ||||||||||
Tax contingency | (1 | ) | 1 | (5 | ) | ||||||||
Change in valuation allowance | (1 | ) | (3 | ) | (5 | ) | |||||||
Other | 3 | 1 | (1 | ) | |||||||||
Total income tax provision (benefit) | $ | 5 | $ | (163 | ) | $ | (41 | ) | |||||
Deferred income taxes reflect the net tax effects of temporary differences between the bases of assets and liabilities for financial reporting and income tax purposes. The Company’s deferred tax assets and liabilities consisted of the following: | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Compensation and benefits | $ | 224 | $ | 367 | |||||||||
Self-insurance | 24 | 20 | |||||||||||
Property, plant and equipment and capitalized lease assets | 132 | 110 | |||||||||||
Loss on sale of discontinued operations | 1,339 | 1,341 | |||||||||||
Net operating loss carryforwards | 23 | 22 | |||||||||||
Other | 80 | 104 | |||||||||||
Gross deferred tax assets | 1,822 | 1,964 | |||||||||||
Valuation allowance | (1,356 | ) | (1,358 | ) | |||||||||
Total deferred tax assets | 466 | 606 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment and capitalized lease assets | (147 | ) | (204 | ) | |||||||||
Inventories | (40 | ) | (28 | ) | |||||||||
Intangible assets | (25 | ) | (21 | ) | |||||||||
Other | (16 | ) | (19 | ) | |||||||||
Total deferred tax liabilities | (228 | ) | (272 | ) | |||||||||
Net deferred tax asset | $ | 238 | $ | 334 | |||||||||
Net deferred tax assets of $238 as of February 22, 2014 reflect long-term deferred tax assets of $287 recorded in Deferred tax assets in the Consolidated Balance Sheets and current deferred tax liabilities of $49 recorded in Other current liabilities. Net deferred tax assets of $334 as of February 23, 2013 reflect long-term deferred tax assets of $345 recorded in Deferred tax assets in the Consolidated Balance Sheets and current deferred tax liabilities of $11 recorded in Other current liabilities. | |||||||||||||
The Company has valuation allowances to reduce deferred tax assets to the amount that is more-likely-than-not to be realized. The Company currently has state net operating loss (“NOL”) carryforwards of $475 for tax purposes. The NOL carryforwards expire beginning in 2015 and continuing through 2033 and have a $16 valuation allowance. The sale of NAI resulted in an allocation of tax expense between continuing and discontinued operations. Included in discontinued operations is the recognition of the additional tax basis in the shares of NAI offset by a valuation allowance on the capital loss that resulted from the sale of shares. The Company has recorded a valuation allowance against the projected capital loss because there is no current evidence that the capital loss will be used prior to its expiration in fiscal 2019. | |||||||||||||
Changes in the Company’s unrecognized tax benefits consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 187 | $ | 165 | $ | 182 | |||||||
Increase based on tax positions related to the current year | 15 | 5 | 14 | ||||||||||
Decrease based on tax positions related to the current year | — | (1 | ) | (1 | ) | ||||||||
Increase based on tax positions related to prior years | 9 | 83 | 21 | ||||||||||
Decrease based on tax positions related to prior years | (131 | ) | (62 | ) | (46 | ) | |||||||
Decrease due to lapse of statute of limitations | (4 | ) | (3 | ) | (5 | ) | |||||||
Ending balance | $ | 76 | $ | 187 | $ | 165 | |||||||
Included in the balance of unrecognized tax benefits as of February 22, 2014, February 23, 2013 and February 25, 2012 are tax positions of $48 net of tax, $60 net of tax, and $67 net of tax, respectively, which would reduce the Company’s effective tax rate if recognized in future periods. | |||||||||||||
The Company expects to resolve $8, net, of unrecognized tax benefits within the next 12 months, representing several individually insignificant income tax positions. These unrecognized tax benefits represent items in which the Company may not prevail with certain taxing authorities, based on varying interpretations of the applicable tax law. The Company is currently in various stages of audits, appeals or other methods of review with authorities from various taxing jurisdictions. The resolution of these unrecognized tax benefits would occur as a result of potential settlements from these negotiations. Based on the information available as of February 22, 2014, the Company does not anticipate significant additional changes to its unrecognized tax benefits. | |||||||||||||
The Company recognized expense related to interest and penalties, net of settlement adjustments, of $4 in fiscal 2014. No amounts were recognized related to interest and penalties in fiscal 2013 and 2012. In addition to the liability for unrecognized tax benefits, the Company had a liability of $31 and $60 as of February 22, 2014 and February 23, 2013, respectively, related to accrued interest and penalties for uncertain tax positions recorded in Other current liabilities and Other long-term liabilities in the Consolidated Balance Sheets. The Company settled various audits during fiscal 2014 and fiscal 2013 resulting in payments of $14 for interest and penalties in fiscal 2014. | |||||||||||||
The Company is currently under examination or other methods of review in several tax jurisdictions and remains subject to examination until the statute of limitations expires for the respective taxing jurisdiction or an agreement is reached between the taxing jurisdiction and the Company. As of February 22, 2014, the Company is no longer subject to federal income tax examinations for fiscal years before 2011 and in most states is no longer subject to state income tax examinations for fiscal years before 2006. |
STOCKBASED_AWARDS
STOCK-BASED AWARDS | 12 Months Ended | ||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
STOCK-BASED AWARDS | ' | ||||||||||||||||
NOTE 9—STOCK-BASED AWARDS | |||||||||||||||||
As of February 22, 2014, the Company has stock options, restricted stock awards and performance awards (collectively referred to as “stock-based awards”) outstanding under the following plans: 2012 Stock Plan, 2007 Stock Plan, 2002 Stock Plan, 1997 Stock Plan, Albertsons Amended and Restated 1995 Stock-Based Incentive Plan and the Albertsons 2004 Equity and Performance Incentive Plan. The Company’s 2012 Stock Plan, as approved by stockholders in fiscal 2013, is the only plan under which stock-based awards may be granted. The 2012 Stock Plan provides that the Board of Directors or the Leadership Development and Compensation Committee of the Board (the “Compensation Committee”) may determine at the time of grant whether each stock-based award granted will be a non-qualified or incentive stock-based award under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”). The terms of each stock-based award will be determined by the Board of Directors or the Compensation Committee. Generally, stock-based awards granted prior to fiscal 2006 have a term of 10 years from fiscal 2006 to fiscal 2012 stock-based awards granted generally have a term of seven years, and starting in fiscal 2013 stock-based awards granted generally have a term of 10 years. | |||||||||||||||||
Stock options are granted to key salaried employees and have been granted to the Company’s non-employee directors to purchase common stock at an exercise price not less than 100 percent of the fair market value of the Company’s common stock on the date of grant. Prior to fiscal 2013, stock options vested over four years and starting in fiscal 2013, stock options vest in three years. Restricted stock awards are also awarded to key salaried employees. The vesting of restricted stock awards is determined at the discretion of the Board of Directors or its Compensation Committee. The restrictions on the restricted stock awards generally lapse between one and five years from the date of grant and the expense is recognized over the lapsing period. Performance awards as part of the long-term incentive program are granted to key salaried employees. | |||||||||||||||||
As of February 22, 2014, there were 12 reserved shares under the 2012 Stock Plan available for stock-based awards. Common stock is delivered out of treasury stock upon the exercise of stock-based awards. The provisions of future stock-based awards may change at the discretion of the Board of Directors or its Compensation Committee. | |||||||||||||||||
On March 20, 2013, the Company completed the Tender Offer and issued common stock to Symphony Investors, which the Company’s Board of Directors deemed to be a change-in-control for purposes of the Company’s outstanding stock-based awards, immediately accelerating the vesting of certain stock-based awards. The deemed change-in-control in conjunction with certain other events resulted in the immediate acceleration of certain additional stock-based awards. As a result of this action, the 2013 and 2012 long-term incentive program awards were immediately accelerated for the vast majority of the outstanding awards resulting in the recognition of the remaining unamortized stock-based compensation expense. However, as the exercise price for the vast majority of these awards was greater than the market price of the Company’s common stock at such time, the cash pay-out to management and employees was insignificant. Outstanding options granted prior to May of fiscal 2010 were also immediately accelerated resulting in the recognition of the remaining unamortized costs. In addition, the deemed change-in-control resulted in the acceleration of options and restricted stock awards granted after May of fiscal 2010 for certain employees meeting qualifying criteria. The Company recognized $9 of accelerated stock-based compensation charges in Selling and administrative expenses in fiscal 2014 as a result of the deemed change-in-control, comprised of $5 from long-term incentive programs, $3 from restricted stock awards and $1 from stock options. | |||||||||||||||||
Stock Options | |||||||||||||||||
Stock options granted, exercised and outstanding consisted of the following: | |||||||||||||||||
Shares | Weighted | Weighted Average | Aggregate | ||||||||||||||
Under Option | Average | Remaining | Intrinsic Value | ||||||||||||||
(In thousands) | Exercise Price | Contractual Term | (In thousands) | ||||||||||||||
(In years) | |||||||||||||||||
Outstanding, February 23, 2013 | 22,246 | $ | 19.2 | ||||||||||||||
Granted | 10,083 | 6.58 | |||||||||||||||
Exercised | (3,121 | ) | 2.29 | ||||||||||||||
Canceled and forfeited | (5,873 | ) | 23.7 | ||||||||||||||
Outstanding, February 22, 2014 | 23,335 | $ | 14.87 | 5.41 | $ | 15,982 | |||||||||||
Vested and expected to vest in the future as of February 22, 2014 | 21,646 | $ | 15.56 | 5.12 | $ | 15,101 | |||||||||||
Exercisable as of February 22, 2014 | 12,050 | $ | 23.38 | 2.05 | $ | 7,340 | |||||||||||
In fiscal 2014, the Company granted non-qualified stock options to certain employees under the Company’s 2012 Stock Plan. The Company granted 9 stock options with a weighted average grant date fair value of $2.78 per share, which vest over a period of three years, as part of a broad-based employee incentive initiative designed to retain and motivate employees across the Company. | |||||||||||||||||
In fiscal 2013, the Company’s Board of Directors granted 2 stock options to the Company’s Chief Executive Officer. The stock options have a grant date fair value of $1.40 per share. These options vest over three years. In fiscal 2013, the Company’s Board of Directors granted non-qualified stock options to the Company’s Chief Executive Officer, and the Board of Directors granted non-qualified stock options to certain other employees, under the Company’s 2012 Stock Plan. The Company granted 8 stock options with a weighted average grant date fair value of $0.98 per share as part of a broad-based employee incentive initiative designed to retain and motivate employees across the Company as it pursued its business transformation strategy. These options vest over three years. | |||||||||||||||||
The Company used the Black Scholes option pricing model to estimate the fair value of the options at grant date based upon the following assumptions: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Dividend yield | — | % | 1.0 – 2.1 | % | |||||||||||||
Volatility rate | 49.3 – 51.3 | % | 42.3 – 61.2 | % | |||||||||||||
Risk-free interest rate | 0.6 – 1.0 | % | 0.4 – 0.6 | % | |||||||||||||
Expected option life | 4.0 – 6.0 years | 4.5 – 6.0 years | |||||||||||||||
The Company did not grant any shares of stock options during fiscal 2012. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
Restricted stock award activity consisted of the following: | |||||||||||||||||
Restricted | Weighted Average | ||||||||||||||||
Stock | Grant-Date | ||||||||||||||||
(In thousands) | Fair Value | ||||||||||||||||
Outstanding, February 23, 2013 | 1,443 | $ | 7.83 | ||||||||||||||
Granted | 491 | 6.98 | |||||||||||||||
Lapsed | (967 | ) | 6.23 | ||||||||||||||
Canceled and forfeited | (30 | ) | 6.08 | ||||||||||||||
Outstanding, February 22, 2014 | 937 | $ | 9.09 | ||||||||||||||
In fiscal 2013, the Company granted restricted stock awards of 1 shares to certain employees under the Company’s fiscal 2012 bonus plan at a fair value of $6.15 per share. The restricted stock awards will vest over a three year period from the date of grant. | |||||||||||||||||
Stock-Based Compensation Expense | |||||||||||||||||
The components of pre-tax stock-based compensation expense are included primarily in Selling and administrative expenses in the Consolidated Statements of Operations, the expense recognized and related tax benefits were as follows: | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation | $ | 22 | $ | 13 | $ | 13 | |||||||||||
Income tax benefits | (8 | ) | (5 | ) | (5 | ) | |||||||||||
Stock-based compensation (net of tax) | $ | 14 | $ | 8 | $ | 8 | |||||||||||
The Company realized excess tax shortfalls of $1 related to stock-based awards during fiscal 2014, and $2 during each of fiscal 2013 and 2012. | |||||||||||||||||
Unrecognized Stock-Based Compensation Expense | |||||||||||||||||
As of February 22, 2014, there was $18 of unrecognized compensation expense related to unvested stock-based awards granted under the Company’s stock plans. The expense is expected to be recognized over a weighted average remaining vesting period of approximately two years. | |||||||||||||||||
Long-Term Incentive Plans | |||||||||||||||||
In fiscal 2013, the Company granted 5 performance award units to certain employees under the SUPERVALU INC. 2007 Stock Plan as part of the Company’s long-term incentive program (“2013 LTIP”). Payout of the award was based on the increase in share price over the three-year service period ending May 1, 2015, and will be settled in the Company’s stock. Due to the deemed change in control along with certain other events discussed above, the 2013 and 2012 long-term incentive program awards were immediately accelerated for the vast majority of the outstanding awards in fiscal 2014. | |||||||||||||||||
The grant date fair value used to determine compensation expense associated with the performance grant was calculated utilizing a Monte Carlo simulation. The grant date fair value of the 2013 LTIP award was $1.38 per award unit. The amount of the awards outstanding was insignificant as of February 22, 2014. The assumptions related to the valuation of the Company’s 2013 LTIP consisted of the following: | |||||||||||||||||
2013 | |||||||||||||||||
Dividend yield | 4.1 | % | |||||||||||||||
Volatility rate | 45.8 | % | |||||||||||||||
Risk-free interest rate | 0.4 | % | |||||||||||||||
Expected life | 3.0 years |
NET_EARNINGS_LOSS_PER_SHARE
NET EARNINGS (LOSS) PER SHARE | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
NET EARNINGS (LOSS) PER SHARE | ' | ||||||||||||
NOTE 10—NET EARNINGS (LOSS) PER SHARE | |||||||||||||
The following table reflects the calculation of basic and diluted net earnings (loss) per share: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net earnings (loss) per share—basic: | |||||||||||||
Net earnings (loss) from continuing operations available to common stockholders | $ | 6 | $ | (263 | ) | $ | (110 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) from continuing operations per share—basic | $ | 0.02 | $ | (1.24 | ) | $ | (0.52 | ) | |||||
Income (loss) from discontinued operations, net of tax, available to common stockholders | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) from discontinued operations per share—basic | $ | 0.69 | $ | (5.67 | ) | $ | (4.39 | ) | |||||
Net earnings (loss) available to common stockholders | $ | 182 | $ | (1,466 | ) | $ | (1,040 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) per share—basic | $ | 0.71 | $ | (6.91 | ) | $ | (4.91 | ) | |||||
Net earnings (loss) per share—diluted: | |||||||||||||
Net earnings (loss) from continuing operations available to common stockholders | $ | 6 | $ | (263 | ) | $ | (110 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) from continuing operations per share—diluted | $ | 0.02 | $ | (1.24 | ) | $ | (0.52 | ) | |||||
Income (loss) from discontinued operations, net of tax, available to common stockholders | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) from discontinued operations per share—diluted | $ | 0.68 | $ | (5.67 | ) | $ | (4.39 | ) | |||||
Net earnings (loss) available to common stockholders | $ | 182 | $ | (1,466 | ) | $ | (1,040 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) per share—diluted | $ | 0.7 | $ | (6.91 | ) | $ | (4.91 | ) | |||||
Stock-based awards of 18, 25 and 21 were outstanding during fiscal 2014, 2013 and 2012, respectively, but were excluded from the calculation of Net earnings (loss) from continuing operations per share—diluted, Net earnings (loss) from discontinued operations per share—diluted and Net earnings (loss) per share—diluted for the periods because their inclusion would be antidilutive. |
BENEFIT_PLANS
BENEFIT PLANS | 12 Months Ended | ||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
BENEFIT PLANS | ' | ||||||||||||||||||||||||||||
NOTE 11—BENEFIT PLANS | |||||||||||||||||||||||||||||
Substantially all employees of the Company and its subsidiaries are covered by various contributory and non-contributory pension, profit sharing or 401(k) plans. The Company’s primary defined benefit pension plan, the SUPERVALU Retirement Plan, and certain supplemental executive retirement plans were closed to new participants and service crediting ended for all participants as of December 31, 2007. Pay increases were reflected in the amount of benefit earned in these plans until December 31, 2012. Most union employees participate in multiemployer retirement plans under collective bargaining agreements, unless the collective bargaining agreement provides for participation in plans sponsored by the Company. In addition to sponsoring both defined benefit and defined contribution pension plans, the Company provides healthcare and life insurance benefits for eligible retired employees under postretirement benefit plans. The Company also provides certain health and welfare benefits, including short-term and long-term disability benefits to inactive disabled employees prior to retirement. The terms of the postretirement benefit plans vary based on employment history, age and date of retirement. For many retirees, the Company provides a fixed dollar contribution and retirees pay contributions to fund the remaining cost. | |||||||||||||||||||||||||||||
Effective February 21, 2014, the Company amended the SUPERVALU Retiree Benefit Plan to modify the Company’s subsidies for all participants (current and former employees) who are not subject to a collective bargaining agreement which specifies a different benefit and who terminate employment on or after January 1, 2016. The result of this amendment was a reduction in the other postretirement benefit obligations of $11 with a corresponding decrease to Accumulated other comprehensive loss, net of tax. | |||||||||||||||||||||||||||||
Effective August 23, 2011, the Company amended the SUPERVALU Retiree Benefit Plan to modify benefits provided by the plan. The result of this amendment was a reduction in the other postretirement benefit obligation of $39 with a corresponding decrease to Accumulated other comprehensive loss, net of tax. | |||||||||||||||||||||||||||||
Effective December 31, 2007, the Company authorized amendments to the SUPERVALU Retirement Plan and certain supplemental executive retirement benefit plans whereby service crediting ended in these plans and no employees will become eligible to participate in these plans after December 31, 2007. Pay increases continued to be reflected in the amount of benefit earned in these plans until December 31, 2012. | |||||||||||||||||||||||||||||
The benefit obligation, fair value of plan assets and funded status of the defined benefit pension plans and other postretirement benefit plans consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 2,893 | $ | 2,745 | $ | 109 | $ | 116 | |||||||||||||||||||||
Plan Amendment | — | — | (11 | ) | — | ||||||||||||||||||||||||
Service cost | — | — | 2 | 2 | |||||||||||||||||||||||||
Interest cost | 121 | 123 | 4 | 5 | |||||||||||||||||||||||||
Actuarial loss (gain) | (141 | ) | 119 | (12 | ) | (9 | ) | ||||||||||||||||||||||
Benefits paid | (147 | ) | (94 | ) | (6 | ) | (5 | ) | |||||||||||||||||||||
Other | — | — | (5 | ) | — | ||||||||||||||||||||||||
Benefit obligation at end of year | 2,726 | 2,893 | 81 | 109 | |||||||||||||||||||||||||
Changes in Plan Assets | |||||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 2,031 | 1,827 | — | — | |||||||||||||||||||||||||
Actual return on plan assets | 259 | 205 | — | — | |||||||||||||||||||||||||
Employer contributions | 118 | 93 | 6 | 5 | |||||||||||||||||||||||||
Plan participants’ contributions | — | — | 3 | 4 | |||||||||||||||||||||||||
Benefits paid | (147 | ) | (94 | ) | (9 | ) | (9 | ) | |||||||||||||||||||||
Fair value of plan assets at end of year | 2,261 | 2,031 | — | — | |||||||||||||||||||||||||
Funded status at end of year | $ | (465 | ) | $ | (862 | ) | $ | (81 | ) | $ | (109 | ) | |||||||||||||||||
For the defined benefit pension plans, the benefit obligation is the projected benefit obligation. For other postretirement benefit plans, the benefit obligation is the accumulated postretirement benefit obligation. The Company’s accumulated benefit obligation for the defined benefit pension plans was $2,726 and $2,893 as of February 22, 2014 and February 23, 2013, respectively. | |||||||||||||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Accrued vacation, compensation and benefits | $ | (3 | ) | $ | (2 | ) | $ | (6 | ) | $ | (7 | ) | |||||||||||||||||
Pension and other postretirement benefit obligations | (462 | ) | (860 | ) | (75 | ) | (102 | ) | |||||||||||||||||||||
$ | (465 | ) | $ | (862 | ) | $ | (81 | ) | $ | (109 | ) | ||||||||||||||||||
Amounts recognized in Accumulated other comprehensive loss for the defined benefit pension and other postretirement benefit plans consists of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Prior service benefit | $ | — | $ | — | $ | 55 | $ | 57 | |||||||||||||||||||||
Net actuarial loss | (567 | ) | (928 | ) | (25 | ) | (46 | ) | |||||||||||||||||||||
Total recognized in Accumulated other comprehensive loss | $ | (567 | ) | $ | (928 | ) | $ | 30 | $ | 11 | |||||||||||||||||||
Total recognized in Accumulated other comprehensive loss, net of tax | $ | (324 | ) | $ | (570 | ) | $ | 17 | $ | 7 | |||||||||||||||||||
The Company has recognized $48 as Accumulated other comprehensive loss, net of tax of the divested defined benefit pension plan associated with its former Shaw’s banner. The unfunded benefit obligations of $108 attributable to the divested defined benefit pension plan were included in the Long-term liabilities of discontinued operations in the Consolidated Balance Sheets as of February 23, 2013. | |||||||||||||||||||||||||||||
Net periodic benefit cost (income) and other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss) for defined benefit pension and other postretirement benefit plans consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||||||||||||
Service cost | $ | — | $ | — | $ | — | $ | 2 | $ | 2 | $ | 2 | |||||||||||||||||
Interest cost | 121 | 123 | 126 | 4 | 5 | 7 | |||||||||||||||||||||||
Expected return on plan assets | (141 | ) | (133 | ) | (114 | ) | — | — | — | ||||||||||||||||||||
Amortization of prior service benefit | — | — | — | (13 | ) | (12 | ) | (9 | ) | ||||||||||||||||||||
Amortization of net actuarial loss | 101 | 111 | 88 | 5 | 6 | 4 | |||||||||||||||||||||||
Settlement | — | — | 2 | — | — | — | |||||||||||||||||||||||
Net periodic benefit cost (income) | 81 | 101 | 102 | (2 | ) | 1 | 4 | ||||||||||||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||
Prior service benefit | — | — | — | (11 | ) | — | (52 | ) | |||||||||||||||||||||
Amortization of prior service benefit | — | — | — | 12 | 13 | 9 | |||||||||||||||||||||||
Net actuarial (gain) loss | (259 | ) | 46 | 417 | (16 | ) | (7 | ) | 16 | ||||||||||||||||||||
Amortization of net actuarial loss | (101 | ) | (110 | ) | (88 | ) | (5 | ) | (6 | ) | (4 | ) | |||||||||||||||||
Total recognized in Other comprehensive (income) loss | (360 | ) | (64 | ) | 329 | (20 | ) | — | (31 | ) | |||||||||||||||||||
Total recognized in net periodic benefit cost (income) and Other comprehensive (income) loss | $ | (279 | ) | $ | 37 | $ | 431 | $ | (22 | ) | $ | 1 | $ | (27 | ) | ||||||||||||||
The estimated net actuarial loss that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost for the defined benefit pension plans during fiscal 2015 is $63. The estimated net amount of prior service benefit and net actuarial loss for the postretirement benefit plans that will be amortized from Accumulated other comprehensive losses into net periodic benefit cost during fiscal 2015 is $3. | |||||||||||||||||||||||||||||
At February 25, 2012, the Company converted to the 2012 Static Mortality Table for Annuitants and Non-Annuitants for calculating the pension and postretirement obligations and the fiscal 2013 expense. The impact of this change increased the February 25, 2012 projected benefit obligation by $10 and the accumulated postretirement benefit obligation by $1. This change also increased the fiscal 2013 defined benefit pension plans expense by $2. The Static Mortality Table for Annuitants and Non-Annuitants is published annually and reflects a static projection of mortality improvements which are projected forward each year. The Company used the 2014 Static Mortality Table for Annuitants and Non-Annuitants to calculate the pension and postretirement obligations. | |||||||||||||||||||||||||||||
Assumptions | |||||||||||||||||||||||||||||
Weighted average assumptions used to determine benefit obligations and net periodic benefit cost consisted of the following: | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Benefit obligation assumptions: | |||||||||||||||||||||||||||||
Discount rate (1) | 4.65 | % | 4.25 | % | 4.55 | % | |||||||||||||||||||||||
Rate of compensation increase | — | % | 2 | % | 2 | % | |||||||||||||||||||||||
Net periodic benefit cost assumptions: (2) | |||||||||||||||||||||||||||||
Discount rate (1) | 4.25 | % | 4.55 | % | 5.6 | % | |||||||||||||||||||||||
Rate of compensation increase | 2 | % | 2 | % | 2 | % | |||||||||||||||||||||||
Expected return on plan assets (3) | 7 | % | 7.25 | % | 7.5 | % | |||||||||||||||||||||||
-1 | The Company reviews and selects the discount rate to be used in connection with its pension and other postretirement obligations annually. In determining the discount rate, the Company uses the yield on corporate bonds (rated AA or better) that coincides with the cash flows of the plans’ estimated benefit payouts. The model uses a yield curve approach to discount each cash flow of the liability stream at an interest rate specifically applicable to the timing of each respective cash flow. The model totals the present values of all cash flows and calculates the equivalent weighted average discount rate by imputing the singular interest rate that equates the total present value with the stream of future cash flows. This resulting weighted average discount rate is then used in evaluating the final discount rate to be used by the Company. | ||||||||||||||||||||||||||||
-2 | Net periodic benefit cost is measured using weighted average assumptions as of the beginning of each year. | ||||||||||||||||||||||||||||
-3 | Expected long-term return on plan assets is estimated by utilizing forward-looking, long-term return, risk and correlation assumptions developed and updated annually by the Company. These assumptions are weighted by the actual or target allocation to each underlying asset class represented in the pension plan asset portfolio. The Company also assesses the expected long-term return on plan assets assumption by comparison to long-term historical performance on an asset class to ensure the assumption is reasonable. Long-term trends are also evaluated relative to market factors such as inflation, interest rates, and fiscal and monetary policies in order to assess the capital market assumptions. | ||||||||||||||||||||||||||||
The Company calculates its expected return on plan assets by using the market related value of plan assets. The market related value of plan assets is determined by adjusting the actual fair value of plan assets for unrecognized gains or losses on plan assets. Unrecognized gains or losses represent the difference between actual returns and expected returns on plan assets for each fiscal year and are recognized by the Company evenly over a three year period. Since the market related value of assets recognizes gains or losses over a three year period, the future value of assets will be impacted as previously deferred gains or losses are recognized. | |||||||||||||||||||||||||||||
For those retirees whose health plans provide for variable employer contributions, the assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation before age 65 was 7.50 percent as of February 22, 2014. The assumed healthcare cost trend rate for retirees before age 65 will decrease by 0.25 percent for each year through fiscal 2026, until it reaches the ultimate trend rate of 4.50 percent. For those retirees whose health plans provide for variable employer contributions, the assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation after age 65 was 6.00 percent as of February 22, 2014. The assumed healthcare cost trend rate for retirees after age 65 will decrease through fiscal 2026, until it reaches the ultimate trend rate of 4.50 percent. For those retirees whose health plans provide for a fixed employer contribution rate, a healthcare cost trend is not applicable. The healthcare cost trend rate assumption would have the following impact on the amounts reported. A 100 basis point increase in the trend rate would impact the Company’s service and interest cost by less than $1 for fiscal 2014. A 100 basis point decrease in the trend rate would impact the Company’s accumulated postretirement benefit obligation as of the end of fiscal 2014 by approximately $5, while a 100 basis point increase would impact the Company’s accumulated postretirement benefit obligation by approximately $6. | |||||||||||||||||||||||||||||
Pension Plan Assets | |||||||||||||||||||||||||||||
Plan assets are held in a master trust and invested in separately managed accounts and other commingled investment vehicles holding domestic and international equity securities, domestic fixed income securities and other investment classes. The Company employs a total return approach whereby a diversified mix of asset class investments is used to maximize the long-term return of plan assets for an acceptable level of risk. Alternative investments are also used to enhance risk-adjusted long-term returns while improving portfolio diversification. Risk management is managed through diversification across asset classes, multiple investment manager portfolios and both general and portfolio-specific investment guidelines. Risk tolerance is established through careful consideration of the plan liabilities, plan funded status and the Company’s financial condition. This asset allocation policy mix is reviewed annually and actual versus target allocations are monitored regularly and rebalanced on an as-needed basis. Plan assets are invested using a combination of active and passive investment strategies. Passive, or “indexed” strategies, attempt to mimic rather than exceed the investment performance of a market benchmark. The plan’s active investment strategies employ multiple investment management firms. Managers within each asset class cover a range of investment styles and approaches and are combined in a way that controls for capitalization, and style biases (equities) and interest rate exposures (fixed income) versus benchmark indices. Monitoring activities to evaluate performance against targets and measure investment risk take place on an ongoing basis through annual liability measurements, periodic asset/liability studies and quarterly investment portfolio reviews. | |||||||||||||||||||||||||||||
The asset allocation targets and the actual allocation of pension plan assets are as follows: | |||||||||||||||||||||||||||||
Asset Category | Target | 2014 | 2013 | ||||||||||||||||||||||||||
Domestic equity | 29.6 | % | 30.2 | % | 32.9 | % | |||||||||||||||||||||||
International equity | 13.7 | % | 14.1 | % | 15.3 | % | |||||||||||||||||||||||
Private equity | 5.6 | % | 5.5 | % | 5.4 | % | |||||||||||||||||||||||
Fixed income | 42.3 | % | 41.3 | % | 37.3 | % | |||||||||||||||||||||||
Real estate | 8.8 | % | 8.9 | % | 9.1 | % | |||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||
The following is a description of the valuation methodologies used for investments measured at fair value: | |||||||||||||||||||||||||||||
Common stock—Valued at the closing price reported in the active market in which the individual securities are traded. | |||||||||||||||||||||||||||||
Common collective trusts—Valued at net asset value (“NAV”), which is based on the fair value of the underlying securities owned by the fund and divided by the number of shares outstanding. The NAV unit price is quoted on a private market that is not active. However, the NAV is based on the fair value of the underlying securities within the fund, which are traded on an active market, and valued at the closing price reported on the active market on which those individual securities are traded. | |||||||||||||||||||||||||||||
Corporate bonds—Valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the fair value is based upon an industry valuation model, which maximizes observable inputs. | |||||||||||||||||||||||||||||
Government securities—Certain government securities are valued at the closing price reported in the active market in which the security is traded. Other government securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. | |||||||||||||||||||||||||||||
Mortgage backed securities—Valued based on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the fair value is based upon an industry valuation model, which maximizes observable inputs. | |||||||||||||||||||||||||||||
Private equity and real estate partnerships—Valued using the most recent general partner statement of fair value, updated for any subsequent partnership interests’ cash flows or expected changes in fair value. | |||||||||||||||||||||||||||||
Mutual funds—Mutual funds are valued at the closing price reported in the active market in which the individual securities are traded. | |||||||||||||||||||||||||||||
Synthetic guaranteed investment contract—Valued by discounting the related cash flows based on current yields of similar instruments with comparable durations considering the credit-worthiness of the issuer. | |||||||||||||||||||||||||||||
Other—Valued under an approach that maximizes observable inputs, such as gathering consensus data from the market participant’s best estimate of mid-market for actual trades or positions held. | |||||||||||||||||||||||||||||
The valuation methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement. | |||||||||||||||||||||||||||||
The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 22, 2014, by asset category, consisted of the following: | |||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Common stock | $ | 579 | $ | — | $ | — | $ | 579 | |||||||||||||||||||||
Common collective trusts—fixed income | — | 253 | — | 253 | |||||||||||||||||||||||||
Common collective trusts—equity | — | 344 | — | 344 | |||||||||||||||||||||||||
Government securities | 92 | 89 | — | 181 | |||||||||||||||||||||||||
Mutual funds | 52 | 243 | — | 295 | |||||||||||||||||||||||||
Corporate bonds | — | 290 | — | 290 | |||||||||||||||||||||||||
Real estate partnerships | — | — | 149 | 149 | |||||||||||||||||||||||||
Private equity | — | — | 125 | 125 | |||||||||||||||||||||||||
Mortgage-backed securities | — | 37 | — | 37 | |||||||||||||||||||||||||
Other | — | 8 | — | 8 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 723 | $ | 1,264 | $ | 274 | $ | 2,261 | |||||||||||||||||||||
The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 23, 2013, by asset category, consisted of the following: | |||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Common stock | $ | 554 | $ | — | $ | — | $ | 554 | |||||||||||||||||||||
Common collective trusts—fixed income | — | 247 | — | 247 | |||||||||||||||||||||||||
Common collective trusts—equity | — | 335 | — | 335 | |||||||||||||||||||||||||
Government securities | 60 | 92 | — | 152 | |||||||||||||||||||||||||
Mutual funds | 51 | 221 | — | 272 | |||||||||||||||||||||||||
Corporate bonds | — | 183 | — | 183 | |||||||||||||||||||||||||
Real estate partnerships | — | — | 136 | 136 | |||||||||||||||||||||||||
Private equity | — | — | 110 | 110 | |||||||||||||||||||||||||
Mortgage-backed securities | — | 35 | — | 35 | |||||||||||||||||||||||||
Other | 3 | 4 | — | 7 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 668 | $ | 1,117 | $ | 246 | $ | 2,031 | |||||||||||||||||||||
The following is a summary of changes in the fair value for Level 3 investments for 2014 and 2013: | |||||||||||||||||||||||||||||
Real Estate | Private Equity | ||||||||||||||||||||||||||||
Partnerships | |||||||||||||||||||||||||||||
Ending balance, February 25, 2012 | $ | 113 | $ | 88 | |||||||||||||||||||||||||
Purchases | 15 | 20 | |||||||||||||||||||||||||||
Sales | — | (7 | ) | ||||||||||||||||||||||||||
Unrealized gains | 8 | 9 | |||||||||||||||||||||||||||
Ending balance, February 23, 2013 | 136 | 110 | |||||||||||||||||||||||||||
Purchases | 22 | 34 | |||||||||||||||||||||||||||
Sales | (26 | ) | (24 | ) | |||||||||||||||||||||||||
Unrealized gains | 10 | 5 | |||||||||||||||||||||||||||
Realized gains and losses | 7 | — | |||||||||||||||||||||||||||
Ending balance, February 22, 2014 | $ | 149 | $ | 125 | |||||||||||||||||||||||||
Contributions | |||||||||||||||||||||||||||||
The Company expects to contribute approximately $130 to $140 to its defined benefit pension plans and postretirement benefit plans in fiscal 2015. The Company’s funding policy for the defined benefit pension plans is to contribute the minimum contribution required under the Employee Retirement Income Security Act of 1974, as amended, the Pension Protection Act of 2006 and other applicable laws, as determined by the Company’s external actuarial consultant and its agreement with the PBGC described in Note 12—Commitments, Contingencies and Off—Balance Sheet Arrangements with consideration given to contributing larger amounts. The Company will recognize contributions in accordance with applicable regulations, with consideration given to recognition for the earliest plan year permitted. | |||||||||||||||||||||||||||||
At the Company’s discretion, additional funds may be contributed to the pension plan. The Company may accelerate contributions or undertake contributions in excess of the minimum requirements from time to time subject to the availability of cash in excess of operating and financing needs or other factors as may be applicable. The Company assesses the relative attractiveness of the use of cash including expected return on assets, discount rates, cost of debt, reducing or eliminating required PBGC variable rate premiums or in order to achieve exemption from participant notices of underfunding. In addition, the Company has entered into an agreement with the PBGC relating to the NAI Banner Sale where it has agreed to contribute in excess of the minimum required amounts by making additional contributions of $25 by the end of fiscal 2015, an additional $25 by the end of fiscal 2016 and an additional $50 by the end of fiscal 2017. Refer to Note 12—Commitments, Contingencies and Off—Balance Sheet Arrangements for additional information on the Company’s benefit plan agreements related to the sale of New Albertsons. | |||||||||||||||||||||||||||||
Estimated Future Benefit Payments | |||||||||||||||||||||||||||||
The estimated future benefit payments to be paid from the Company’s defined benefit pension plans and other postretirement benefit plans, which reflect expected future service, are as follows: | |||||||||||||||||||||||||||||
Fiscal Year | Pension Benefits | Other Postretirement | |||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2015 | $ | 115 | $ | 6 | |||||||||||||||||||||||||
2016 | 122 | 7 | |||||||||||||||||||||||||||
2017 | 128 | 6 | |||||||||||||||||||||||||||
2018 | 137 | 6 | |||||||||||||||||||||||||||
2019 | 147 | 6 | |||||||||||||||||||||||||||
Years 2020-2024 | 851 | 31 | |||||||||||||||||||||||||||
Defined Contribution Plans | |||||||||||||||||||||||||||||
The Company sponsors several defined contribution and profit sharing plans pursuant to Section 401(k) of the Internal Revenue Code. Employees may contribute a portion of their eligible compensation to the plans on a pre-tax basis. The Company matches a portion of employee contributions by contributing cash into the investment options selected by the employees. The total amount contributed by the Company to the plans is determined by plan provisions or at the discretion of the Company. Total employer contribution expenses for these plans were $11, $17 and $23 for fiscal 2014, 2013 and 2012, respectively. Matching contributions were reduced or eliminated in January 2013 for most employees. Plan assets also include 3 and 7 shares of the Company’s common stock as of February 22, 2014 and February 23, 2013, respectively. | |||||||||||||||||||||||||||||
Post-Employment Benefits | |||||||||||||||||||||||||||||
The Company recognizes an obligation for benefits provided to former or inactive employees. The Company is self-insured for certain disability plan programs which comprise, the primary benefits paid to inactive employees prior to retirement. As of February 22, 2014, the obligation for post-employment benefits was $24, with $9 included in Accrued vacation, compensation and benefits, and $15 included in Other long-term liabilities. | |||||||||||||||||||||||||||||
Multiemployer Plans | |||||||||||||||||||||||||||||
The Company contributes to various multiemployer pension plans under collective bargaining agreements, primarily defined benefit pension plans. These multiemployer plans generally provide retirement benefits to participants based on their service to contributing employers. The benefits are paid from assets held in trust for that purpose. Plan trustees typically are responsible for determining the level of benefits to be provided to participants as well as the investment of the assets and plan administration. Trustees are appointed in equal number by employers and the unions that are parties to the collective bargaining agreement. | |||||||||||||||||||||||||||||
Expense is recognized in connection with these plans as contributions are funded, in accordance with U.S. generally accepted accounting standards. The Company contributed $39, $38 and $38 to these plans for fiscal years 2014, 2013 and 2012, respectively. The risks of participating in these multiemployer plans are different from the risks associated with single-employer plans in the following respects: | |||||||||||||||||||||||||||||
a. | Assets contributed to the multiemployer plan by one employer are held in trust and may be used to provide benefits to employees of other participating employers. | ||||||||||||||||||||||||||||
b. | If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. | ||||||||||||||||||||||||||||
c. | If the Company chooses to stop participating in some multiemployer plans, or makes market exits or store closures or otherwise has participation in the plan drop below certain levels, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. | ||||||||||||||||||||||||||||
The Company’s participation in these plans is outlined in the table below. The EIN-Pension Plan Number column provides the Employer Identification Number (“EIN”) and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act zone status (“PPA”) available in 2014 and 2013 relates to the plans’ two most recent fiscal year-ends. The zone status is based on information that the Company received from the plan and is certified by each plan’s actuary. Among other factors, red zone status plans are generally less than 65 percent funded and are considered in critical status, plans in yellow zone or orange zone status are less than 80 percent funded and are considered in endangered or seriously endangered status, and green zone plans are at least 80 percent funded. The FIP/RP Status Pending/Implemented column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented by the trustees of each plan. | |||||||||||||||||||||||||||||
Certain plans have been aggregated in the All Other Multiemployer Pension Plans line in the following table, as the contributions to each of these plans are not individually material. None of the Company’s collective bargaining agreements require that a minimum contribution be made to these plans. Multiemployer pension plan contributions and participants were predominately comparable for fiscal 2014, 2013 and 2012. | |||||||||||||||||||||||||||||
At the date the financial statements were issued, Forms 5500 were generally not available for the plan years ending in 2013. | |||||||||||||||||||||||||||||
The following table contains information about the Company’s multiemployer plans: | |||||||||||||||||||||||||||||
EIN—Pension | Plan | Pension | FIP/RP | Contributions | Surcharges | Amortization | |||||||||||||||||||||||
Plan Number | Month/Day | Protection Act | Status | Imposed (1) | Provisions | ||||||||||||||||||||||||
End Date | Zone Status | Pending/ | |||||||||||||||||||||||||||
Pension Fund | 2014 | 2013 | Implemented | 2014 | 2013 | 2012 | |||||||||||||||||||||||
Minneapolis Food Distributing Industry Pension Plan | 416047047-001 | 31-Dec | Green | Green | Implemented | $ | 9 | $ | 9 | $ | 9 | No | Yes | ||||||||||||||||
Central States, Southeast and Southwest Areas Pension Fund | 366044243-001 | 31-Dec | Red | Red | Implemented | 8 | 9 | 9 | No | Yes | |||||||||||||||||||
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 410905139-001 | 28-Feb | Yellow | Yellow | Implemented | 8 | 8 | 7 | No | No | |||||||||||||||||||
UFCW Unions and Participating Employers Pension Plan | 526117495-002 | 31-Dec | Red | Red | Implemented | 4 | 3 | 4 | Yes | Yes | |||||||||||||||||||
Western Conference of Teamsters Pension Plan | 916145047-001 | 31-Dec | Green | Green | No | 3 | 2 | 3 | No | Yes | |||||||||||||||||||
UFCW Union Local 655 Food Employers Joint Pension Plan | 436058365-001 | 31-Dec | Green | Red | Implemented | 2 | 2 | 2 | Yes | Yes | |||||||||||||||||||
UFCW Unions and Employers Pension Plan | 396069053-001 | 31-Oct | Red | Red | Implemented | 2 | 2 | 2 | Yes | Yes | |||||||||||||||||||
All Other Multiemployer Pension Plans (2) | 3 | 3 | 2 | ||||||||||||||||||||||||||
Total | $ | 39 | $ | 38 | $ | 38 | |||||||||||||||||||||||
-1 | PPA surcharges are 5 percent or 10 percent of eligible contributions and may not apply to all collective bargaining agreements or total contributions to each plan. | ||||||||||||||||||||||||||||
-2 | All Other Multiemployer Pension Plans includes 11 plans, none of which are individually significant when considering employer’s contributions to the plan, severity of the underfunded status or other factors. The following table describes the expiration of the Company’s collective bargaining agreements associated with the significant multiemployer plans in which the Company participates: | ||||||||||||||||||||||||||||
Most Significant Collective | |||||||||||||||||||||||||||||
Bargaining Agreement | |||||||||||||||||||||||||||||
Pension Fund | Range of | Total | Expiration | % of Associates under | Over 5% | ||||||||||||||||||||||||
Collective | Collective | Date | Collective Bargaining | Contribution | |||||||||||||||||||||||||
Bargaining | Bargaining | Agreement (1) | 2014 | ||||||||||||||||||||||||||
Agreement | Agreements | ||||||||||||||||||||||||||||
Expiration Dates | |||||||||||||||||||||||||||||
Minneapolis Food Distributing Industry Pension Plan | 06/01/2013 – 05/31/2015 | 1 | 5/31/15 | 100 | % | Yes | |||||||||||||||||||||||
Central States, Southeast and Southwest Areas Pension Fund | 06/13/2009 – 07/16/2016 | 10 | 5/31/16 | 28.3 | % | No | |||||||||||||||||||||||
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 03/02/2013 – 03/01/2014 | 2 | 3/1/14 | 96.5 | % | Yes | |||||||||||||||||||||||
UFCW Unions and Participating Employers Pension Plan | 07/08/2012 – 07/12/2014 | 2 | 7/12/14 | 68.2 | % | Yes | |||||||||||||||||||||||
Western Conference of Teamsters Pension Plan | 04/17/2011 – 09/22/2016 | 8 | 7/12/14 | 42 | % | No | |||||||||||||||||||||||
UFCW Union Local 655 Food Employers Joint Pension Plan | 05/17/2010 – 03/30/2014 | 1 | 3/30/14 | 100 | % | Yes | |||||||||||||||||||||||
UFCW Unions and Employers Pension Plan | 04/07/2013 – 04/05/2014 | 1 | 4/5/14 | 100 | % | Yes | |||||||||||||||||||||||
-1 | Company participating employees in the most significant collective bargaining agreement as a percent of all Company employees participating in the respective fund. | ||||||||||||||||||||||||||||
Multiemployer Postretirement Benefit Plans Other than Pensions | |||||||||||||||||||||||||||||
The Company also makes contributions to multiemployer health and welfare plans in amounts set forth in the related collective bargaining agreements. These plans provide medical, dental, pharmacy, vision, and other ancillary benefits to active employees and retirees as determined by the trustees of each plan. The vast majority of the Company’s contributions benefit active employees and as such, may not constitute contributions to a postretirement benefit plan. However, the Company is unable to separate contribution amounts to postretirement benefit plans from contribution amounts paid to benefit active employees. | |||||||||||||||||||||||||||||
The Company contributed $87, $90 and $90 for fiscal 2014, 2013 and 2012, respectively, to multiemployer health and welfare plans. If healthcare provisions within these plans cannot be renegotiated in a manner that reduces the prospective healthcare cost as the Company intends, the Company’s Selling and administrative expenses could increase in the future. | |||||||||||||||||||||||||||||
Collective Bargaining Agreements | |||||||||||||||||||||||||||||
As of February 22, 2014, the Company had approximately 35,800 employees. Approximately 15,300 employees are covered by collective bargaining agreements. During fiscal 2014, 20 collective bargaining agreements covering 8,200 employees were renegotiated and two collective bargaining agreements covering approximately 100 employees expired without their terms being renegotiated. Negotiations are expected to continue with the bargaining units representing the employees subject to those agreements. During fiscal 2015, 23 collective bargaining agreements covering approximately 11,800 employees are scheduled to expire. |
COMMITMENTS_CONTINGENCIES_AND_
COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS | 12 Months Ended |
Feb. 22, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS | ' |
NOTE 12—COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS | |
Guarantees | |
The Company has outstanding guarantees related to certain leases, fixture financing loans and other debt obligations of various retailers as of February 22, 2014. These guarantees were generally made to support the business growth of independent retail customers. The guarantees are generally for the entire terms of the leases or other debt obligations with remaining terms that range from less than one year to 16 years, with a weighted average remaining term of approximately nine years. For each guarantee issued, if the independent retail customer defaults on a payment, the Company would be required to make payments under its guarantee. Generally, the guarantees are secured by indemnification agreements or personal guarantees of the independent retail customer. | |
The Company reviews performance risk related to its guarantees of independent retail customers based on internal measures of credit performance. As of February 22, 2014, the maximum amount of undiscounted payments the Company would be required to make in the event of default of all guarantees was $78 and represented $57 on a discounted basis. Based on the indemnification agreements, personal guarantees and results of the reviews of performance risk, the Company believes the likelihood that it will be required to assume a material amount of these obligations is remote. Accordingly, no amount has been recorded in the Consolidated Balance Sheets for these contingent obligations under the Company’s guarantee arrangements. | |
The Company is contingently liable for leases that have been assigned to various third parties in connection with facility closings and dispositions. The Company could be required to satisfy the obligations under the leases if any of the assignees are unable to fulfill their lease obligations. Due to the wide distribution of the Company’s assignments among third parties, and various other remedies available, the Company believes the likelihood that it will be required to assume a material amount of these obligations is remote. | |
The Company has guaranteed certain debt obligations of American Stores Company (“ASC”) on ASC’s $467 notes outstanding. In connection with the NAI Banner Sale, AB Acquisition assumed the ASC debt but the existing guarantee as provided by the Company was not released, and the Company continues as guarantor. Concurrently with the NAI Banner Sale, AB Acquisition entered into an agreement with the Company to indemnify the Company for any consideration used to satisfy the guarantee by depositing $467 in cash into an escrow account, which provides the Company first priority interest and the trustee of the ASC bondholders’ second priority interest in the collateral balance. On January 24, 2014, ASC successfully tendered for $462 of the $467 notes outstanding under the ASC indenture. The escrow account balance has been reduced to $5, the amount of ASC notes still outstanding under the ASC indenture. | |
The Company is a party to a variety of contractual agreements under which the Company may be obligated to indemnify the other party for certain matters, which indemnities may be secured by operation of law or otherwise, in the ordinary course of business. These contracts primarily relate to the Company’s commercial contracts, contracts entered into for the purchase and sale of stock or assets, operating leases and other real estate contracts, financial agreements, agreements to provide services to the Company and agreements to indemnify officers, directors and employees in the performance of their work. While the Company’s aggregate indemnification obligation could result in a material liability, the Company is not aware of any matters that are expected to result in a material liability. | |
Following the sale of NAI, the Company remains contingently liable with respect to certain self-insurance commitments and other guarantees as a result of parental guarantees issued by SUPERVALU INC. with respect to the obligations of NAI that were incurred while NAI was a subsidiary of the Company. As of February 22, 2014, the total undiscounted amount of all such guarantees was $331 and represented $297 on a discounted basis. Based on the settlement listing of the underlying claims data of such self-insurance commitments while the Company owned NAI, the Company believes that such contingent liabilities will continue to decline. Subsequent to the NAI Banner Sale, NAI collateralized these obligations with letters of credit to numerous states and certain NAI retail banner real estate assets. Because NAI remains a primary obligor on these self-insurance and other obligations and has collateralized the self-insurance obligations for which the Company remains contingently liable, the Company believes that the likelihood that it will be required to assume a material amount of these obligations is remote. Accordingly, no amount has been recorded in the Consolidated Balance Sheets for these parent guarantees. | |
Other Contractual Commitments | |
In the ordinary course of business, the Company enters into supply contracts to purchase products for resale and purchase and service contracts for fixed asset and information technology commitments. These contracts typically include either volume commitments or fixed expiration dates, termination provisions and other standard contractual considerations. As of February 22, 2014, the Company had approximately $283 of non-cancelable future purchase obligations. | |
The Company and AB Acquisition entered into a binding term sheet with the Pension Benefit Guaranty Corporation (the “PBGC”) relating to issues regarding the effect of the NAI Banner Sale on certain SUPERVALU retirement plans. The agreement requires that the Company will not pay any dividends to its stockholders at any time for the period beginning on January 9, 2013 and ending on the earliest of (i) March 21, 2018, (ii) the date on which the total of all contributions made to the SUPERVALU Retirement Plan on or after the closing date of the NAI Banner Sale is at least $450 and (iii) the date on which SUPERVALU’s unsecured credit rating is BB+ from Standard & Poor’s or Ba1 from Moody’s (such earliest date, the end of the “PBGC Protection Period”). SUPERVALU has also agreed to make certain contributions to the SUPERVALU Retirement Plan in excess of the minimum required contributions at or before the ends of fiscal years 2015 – 2017 (where such fiscal years end during the PBGC Protection Period), and AB Acquisition has agreed to provide a guarantee to the PBGC for such excess payments. Excess contributions required under this binding term sheet include $25 by the end of fiscal 2015, an additional $25 by the end of fiscal 2016 and an additional $50 by the end of fiscal 2017. | |
Legal Proceedings | |
The Company is subject to various lawsuits, claims and other legal matters that arise in the ordinary course of conducting business. In the opinion of management, based upon currently-available facts, it is remote that the ultimate outcome of any lawsuits, claims and other proceedings will have a material adverse effect on the overall results of the Company’s operations, its cash flows or its financial position. | |
In September 2008, a class action complaint was filed against the Company, as well as International Outsourcing Services, LLC (“IOS”), Inmar, Inc., Carolina Manufacturer’s Services, Inc., Carolina Coupon Clearing, Inc. and Carolina Services, in the United States District Court in the Eastern District of Wisconsin. The plaintiffs in the case are a consumer goods manufacturer, a grocery co-operative and a retailer marketing services company who allege on behalf of a purported class that the Company and the other defendants (i) conspired to restrict the markets for coupon processing services under the Sherman Act and (ii) were part of an illegal enterprise to defraud the plaintiffs under the Federal Racketeer Influenced and Corrupt Organizations Act. The plaintiffs seek monetary damages, attorneys’ fees and injunctive relief. The Company intends to vigorously defend this lawsuit, however all proceedings have been stayed in the case pending the result of the criminal prosecution of certain former officers of IOS. | |
In December 2008, a class action complaint was filed in the United States District Court for the Western District of Wisconsin against the Company alleging that a 2003 transaction between the Company and C&S Wholesale Grocers, Inc. (“C&S”) was a conspiracy to restrain trade and allocate markets. In the 2003 transaction, the Company purchased certain assets of the Fleming Corporation as part of Fleming Corporation’s bankruptcy proceedings and sold certain assets of the Company to C&S which were located in New England. Since December 2008, three other retailers have filed similar complaints in other jurisdictions. The cases have been consolidated and are proceeding in the United States District Court for the District of Minnesota. The complaints allege that the conspiracy was concealed and continued through the use of non-compete and non-solicitation agreements and the closing down of the distribution facilities that the Company and C&S purchased from each other. Plaintiffs are seeking monetary damages, injunctive relief and attorneys’ fees. On July 5, 2011, the District Court granted the Company’s Motion to Compel Arbitration for those plaintiffs with arbitration agreements and plaintiffs appealed. On July 16, 2012, the District Court denied plaintiffs’ Motion for Class Certification and on January 11, 2013, the District Court granted the Company’s Motion for Summary Judgment and dismissed the case regarding the non-arbitration plaintiffs. Plaintiffs have appealed these decisions. On February 12, 2013, the 8th Circuit reversed the District Court decision requiring plaintiffs with arbitration agreements to arbitrate and the Company filed a Petition with the 8th Circuit for an En Banc Rehearing. On June 7, 2013, the Eighth Circuit denied the Petition for Rehearing and remanded the case to the District Court. On October 30, 2013, the parties attended a District Court ordered mandatory mediation which was not successful in resolving the matter. On November 21, 2013, the Eighth Circuit held a hearing on plaintiffs’ appeal from the Class Certification denial and Summary Judgment decisions. The Eighth Circuit took the matter under advisement. On December 13, 2013, the District Court granted the Company’s motion to stay the proceedings at the District Court pending a decision on the second Eighth Circuit appeal regarding class certification and summary judgment. | |
In May 2012, Kiefer, a former Assistant Store Manager at Save-A-Lot, filed a class action against Save-A-Lot seeking to represent current and former Assistant Store Managers alleging violations of the Fair Labor Standards Act related to the fluctuating work week method of pay (“FWW”) in the United States District Court in the District of Connecticut. FWW is a method of compensation whereby employees are paid a fixed salary for all hours worked during a week plus additional compensation at one-half the regular rate for overtime hours. Kiefer claimed that the FWW practice is unlawful or, if lawful, that Save-A-Lot improperly applied the FWW method of pay, including in situations involving paid time off, holiday pay, and bonus payments. In March 2013, the United States District Court granted conditional certification in favor of Kiefer on the issue of whether Save-A-Lot properly applied the FWW. In May 2013, the United States District Court denied Save-A-Lot’s motion for summary judgment on the same issue. This FWW practice is permissible under the Fair Labor Standards Act and other state laws, and Save-A-Lot denied all allegations in the case. The same plaintiffs’ attorneys representing Kiefer filed two additional FWW actions against Save-A-Lot and SUPERVALU. Shortly before filing of the Kiefer lawsuit, in one of these cases filed by a former Assistant Store Manager (Roach) in March 2011, the Superior Court for the Judicial District of Hartford at Hartford granted summary judgment in favor of Save-A-Lot determining FWW was a legal practice in Connecticut. In March 2013, another Save-A-Lot Assistant Store Manager (Pagano) filed an FWW class claim against SUPERVALU under Pennsylvania state law in the Philadelphia County Court of Common Pleas relating to overtime payment. In all three cases, which the Company was defending vigorously, plaintiffs were seeking monetary damages and attorneys’ fees. On August 20, 2013, the parties agreed in principle to resolve the matters on a nationwide basis in a settlement that will cap the Company’s aggregate obligation, including with respect to settlement funds, plaintiffs’ attorneys fees and costs and settlement administration costs. The settlement is subject to the applicable courts’ preliminary and final approval. The court granted preliminary approval of the settlement on March 13, 2014. Final approval is subject to the court’s approval, which the parties expect to seek in July 2014. The Company recorded a litigation settlement charge of $5 before tax ($3 after tax) in the second quarter of fiscal 2014 in connection with the expected settlement of this matter. The Company funded $5 into a qualified settlement fund on February 28, 2014. | |
Predicting the outcomes of claims and litigation and estimating related costs and exposures involves substantial uncertainties that could cause actual outcomes, costs and exposures to vary materially from current expectations. The Company regularly monitors its exposure to the loss contingencies associated with these matters and may from time to time change its predictions with respect to outcomes and its estimates with respect to related costs and exposures. | |
With respect to the IOS and C&S matters discussed above, the Company believes the chance of a negative outcome is remote. It is possible, although management believes it is remote, that material differences in actual outcomes, costs and exposures relative to current predictions and estimates, or material changes in such predictions or estimates, could have a material adverse effect on the Company’s financial condition, results of operations or cash flows. |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 12 Months Ended | ||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||||||||||||
NOTE 13—SEGMENT INFORMATION | |||||||||||||||||||||||||
Refer to the Consolidated Segment Financial Information for financial information concerning the Company’s operations and financial position by reportable segment. | |||||||||||||||||||||||||
The Company’s operating segments reflect the manner in which the business is managed and how the Company allocates resources and assesses performance internally. The Company’s chief operating decision maker is the Chief Executive Officer. | |||||||||||||||||||||||||
The Company offers a wide variety of grocery products, general merchandise and health and beauty care, pharmacy, fuel and other items and services. The Company’s business is classified by management into three reportable segments: Independent Business, Save-A-Lot and Retail Food. These reportable segments are three distinct businesses, each with a different customer base, marketing strategy and management structure. The Company reviews its reportable segments on an annual basis, or more frequently if events or circumstances indicate a change in reportable segments has occurred. | |||||||||||||||||||||||||
The Independent Business reportable segment derives revenues from wholesale distribution to independently owned retail food stores and other customers (collectively referred to as “independent retail customers”). The Save-A-Lot reportable segment derives revenues from the sale of groceries at retail locations operated and licensed by the Company (both the Company’s own stores and stores licensed by the Company to which the Company distributes wholesale products). The Retail Food reportable segment derives revenues from the sale of groceries and other products at retail locations operated by the Company. Substantially all of the Company’s operations are domestic. | |||||||||||||||||||||||||
The Company offers a wide variety of nationally advertised brand name and private-label products, primarily including grocery (both perishable and nonperishable), general merchandise and health and beauty care, pharmacy and fuel, which are sold through the Company’s owned, licensed and franchised retail stores to shoppers and through its Independent Business to independent retail customers. The amounts and percentages of Net sales for each group of similar products sold in the Independent Business, Save-A-Lot and Retail Food segments and Corporate revenue consisted of the following: | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Independent Business: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 6,000 | 35 | % | $ | 6,140 | 36 | % | $ | 6,222 | 36 | % | |||||||||||||
Perishable grocery products (2) | 1,951 | 11 | 1,935 | 11 | 1,880 | 11 | |||||||||||||||||||
Services to independent retail customers and other | 85 | 1 | 91 | 1 | 92 | — | |||||||||||||||||||
8,036 | 47 | % | 8,166 | 48 | % | 8,194 | 47 | % | |||||||||||||||||
Save-A-Lot: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 2,829 | 17 | % | $ | 2,865 | 17 | % | $ | 2,925 | 17 | % | |||||||||||||
Perishable grocery products (2) | 1,399 | 8 | 1,330 | 8 | 1,296 | 7 | |||||||||||||||||||
4,228 | 25 | % | 4,195 | 25 | % | 4,221 | 24 | % | |||||||||||||||||
Retail Food: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 2,600 | 15 | % | $ | 2,689 | 16 | % | $ | 2,820 | 17 | % | |||||||||||||
Perishable grocery products (2) | 1,463 | 9 | 1,428 | 8 | 1,461 | 8 | |||||||||||||||||||
Pharmacy products | 491 | 3 | 512 | 3 | 483 | 3 | |||||||||||||||||||
Fuel | 67 | — | 77 | — | 126 | 1 | |||||||||||||||||||
Other | 30 | — | 30 | — | 31 | — | |||||||||||||||||||
4,651 | 27 | % | 4,736 | 27 | % | 4,921 | 29 | % | |||||||||||||||||
Corporate: | |||||||||||||||||||||||||
Transition service revenue | $ | 240 | 1 | % | $ | 42 | — | % | $ | 47 | — | % | |||||||||||||
Net sales | $ | 17,155 | 100 | % | $ | 17,139 | 100 | % | $ | 17,383 | 100 | % | |||||||||||||
-1 | Includes such items as dry goods, general merchandise, health and beauty care, beverages, dairy, frozen foods, and candy | ||||||||||||||||||||||||
-2 | Includes such items as meat, produce, deli and bakery |
DISCONTINUED_OPERATIONS_AND_DI
DISCONTINUED OPERATIONS AND DIVESTITURES | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
DISCONTINUED OPERATIONS AND DIVESTITURES | ' | ||||||||||||
NOTE 14—DISCONTINUED OPERATIONS AND DIVESTITURES | |||||||||||||
Discontinued Operations | |||||||||||||
On March 21, 2013, the Company sold its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies (collectively, the “NAI Banners”) to AB Acquisition. | |||||||||||||
The Company received net proceeds of approximately $100 and a short-term note receivable of approximately $44 for the stock of NAI. AB Acquisition assumed approximately $3,200 of debt and capital leases, excluding original issue discounts. In addition, AB Acquisition assumed the underfunded status of NAI’s related share of the multiemployer pension plans to which the Company contributed. AB Acquisition’s portion of the underfunded status of the multiemployer pension plans was estimated to be approximately $1,138 before tax, based on the Company’s estimated “proportionate share” of underfunding calculated as of February 23, 2013. | |||||||||||||
In connection with the Stock Purchase Agreement, the Company entered into various agreements with AB Acquisition and its affiliates related to on-going operations, including a Transition Services Agreement with each of NAI and Albertson’s LLC (collectively, the “TSA”) and operating and supply agreements. These arrangements have initial terms that range from 12 months to 5 years, are generally subject to renewal upon mutual agreement by the parties thereto and also include termination provisions that can be exercised by each party. The Company recognized $240, $42 and $47 in TSA fees during fiscal 2014, 2013 and 2012, respectively, including $60 under the first-year transitional fee provisions during fiscal 2014. The shared service center costs incurred to support back office functions related to the NAI Banners represent administrative overhead and are recorded in Selling and administrative expenses. | |||||||||||||
The Company has determined that the continuing cash flows generated by these arrangements are not significant in proportion to the cash flows that the Company would have generated had the NAI Banner Sale not occurred, and that the arrangements do not provide the Company the ability to significantly influence the operating or financial policies of the NAI Banners. Accordingly, the above arrangements do not constitute significant continuing involvement in the operations of the NAI Banners. The assets, liabilities, operating results, and cash flows of the NAI Banners have been presented separately as discontinued operations in the Consolidated Financial Statements for all periods presented. | |||||||||||||
During the fourth quarter of fiscal 2013, the Company presented the assets and liabilities of NAI as discontinued operations and accordingly assessed the long-lived assets of the disposal group for impairment by comparing the carrying value of the total net assets of discontinued operations to their estimated fair value based on the proceeds expected to be received and debt expected to be assumed by AB Acquisition pursuant to the Stock Purchase Agreement less the estimated costs to sell. The Company recorded a preliminary estimated pre-tax loss on contract for the disposal of NAI of approximately $1,150, recorded as a component of Current liabilities of discontinued operations, and a pre-tax property, plant and equipment-related impairment of $203, recorded as a reduction of Long-term assets of discontinued operations, in the Consolidated Balance Sheets. The calculation was finalized during fiscal 2014, including working capital finalization. The total loss on sale of NAI was $1,263, comprised of $1,081 of contract loss and $182 of property, plant and equipment-related impairment, resulting in a $90 pre-tax reduction to the preliminary estimated loss on sale of NAI during fiscal 2014, which was recorded as a component of Income from discontinued operations, net of tax in the Consolidated Statements of Operations. The Company determined the pre-tax property, plant and equipment-related impairment using Level 3 inputs. | |||||||||||||
The following is a summary of the Company’s operating results and certain other directly attributable expenses that are included in discontinued operations: | |||||||||||||
February 22, 2014 | February 23, 2013 | February 25, 2012 | |||||||||||
(52 weeks) | (52 weeks) | (52 weeks) | |||||||||||
Net sales | $ | 1,235 | $ | 17,230 | $ | 18,764 | |||||||
Income (loss) before income taxes from discontinued operations | 121 | (1,238 | ) | (876 | ) | ||||||||
Income tax (benefit) provision | (55 | ) | (35 | ) | 54 | ||||||||
Income (loss) from discontinued operations, net of tax | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
The tax rate for the income tax benefit included as a component of Income from discontinued operations, net of tax for fiscal 2014 included $105 of discrete tax benefits primarily resulting from the settlement of IRS audits for the fiscal 2010, 2009 and 2008 tax years and an adjustment to decrease the loss on sale of NAI reported at February 23, 2013. | |||||||||||||
The amounts of the intercompany sales, which approximate related costs and were eliminated upon consolidation, were $19 and $236 for fiscal 2014 and 2013, respectively. The Company recorded $209 within Net sales of continuing operations related to the NAI banners for fiscal 2014. The Company provides certain back office support to the divested NAI Banners under the TSA. Fees earned under the TSA are reflected in Net sales in the Consolidated Statements of Operations. | |||||||||||||
The following is a summary of the assets and liabilities of discontinued operations as of February 23, 2013: | |||||||||||||
February 23, | |||||||||||||
2013 | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 77 | |||||||||||
Receivables, net | 215 | ||||||||||||
Inventories, net | 1,155 | ||||||||||||
Other current assets | 47 | ||||||||||||
Total current assets | 1,494 | ||||||||||||
Property, plant and equipment, net | 3,767 | ||||||||||||
Intangible assets, net | 555 | ||||||||||||
Other assets | 655 | ||||||||||||
Total assets | $ | 6,471 | |||||||||||
Liabilities | |||||||||||||
Accounts payable | $ | 652 | |||||||||||
Accrued vacation, compensation and benefits | 217 | ||||||||||||
Current maturities of long-term debt and capital lease obligations | 212 | ||||||||||||
Accrued loss on contract | 1,140 | ||||||||||||
Other current liabilities | 480 | ||||||||||||
Total current liabilities of discontinued operations | 2,701 | ||||||||||||
Long-term debt and capital lease obligations | 2,832 | ||||||||||||
Pension and other postretirement benefit obligations | 109 | ||||||||||||
Other long-term liabilities | 850 | ||||||||||||
Total liabilities | 6,492 | ||||||||||||
Net liabilities of discontinued operations | $ | (21 | ) | ||||||||||
Divestitures | |||||||||||||
During fiscal 2012, the Company sold 107 fuel centers which were part of the Retail Food segment, including 97 discontinued operations fuel centers. The Company received $89 in cash, primarily through discontinued operations, and recognized a pre-tax loss of $7, of which $1 and $6 of the pre-tax loss is presented as continuing operations and discontinued operations, respectively, related to the sale of the fuel centers. |
SUBSEQUENT_EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Feb. 22, 2014 | |
Subsequent Events [Abstract] | ' |
SUBSEQUENT EVENTS | ' |
NOTE 15—SUBSEQUENT EVENTS | |
On April 17, 2014, the Company entered into an amendment to the Revolving ABL Credit Facility due March 2018 (the “ABL Amendment”) that reduced the interest rates for the facility, among other things. The new rates will be LIBOR plus 1.50 percent to LIBOR plus 2.00 percent or prime plus 0.50 percent to 1.00 percent, depending on utilization. The ABL Amendment also eliminated the springing maturity provision that would have accelerated the maturity of the facility to 90 days prior to May 1, 2016 if more than $250 of the Company’s 8.00 percent Senior Notes due May 2016 remained outstanding as of that date. The springing maturity provision was replaced with a springing reserve provision that calls for a reserve to be placed against availability under the facility in the amount of any outstanding Material Indebtedness (as defined in the Revolving ABL Credit Facility due March 2018) that is due within 30 days of the date the reserve is established. The ABL Amendment also amended the Revolving ABL Credit Facility due March 2018 to provide that the Company may incur additional term loans under the Secured Term Loan Facility due March 2019 in an aggregate principal amount of up to $500 instead of $250 as in effect prior to the ABL Amendment, subject to identifying term loan lenders or other institutional lenders willing to provide the additional loans and the satisfaction of certain terms and conditions. In addition, the ABL Amendment extended the maturity date of the facility to February 21, 2019 and contains modified covenants to give the Company additional strategic and operational flexibility. |
UNAUDITED_QUARTERLY_FINANCIAL_
UNAUDITED QUARTERLY FINANCIAL INFORMATION | 12 Months Ended | ||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
UNAUDITED QUARTERLY FINANCIAL INFORMATION | ' | ||||||||||||||||||||
UNAUDITED QUARTERLY FINANCIAL INFORMATION | |||||||||||||||||||||
(In millions, except per share data) | |||||||||||||||||||||
Unaudited quarterly financial information for SUPERVALU INC. and subsidiaries is as follows: | |||||||||||||||||||||
2014 | |||||||||||||||||||||
First | Second | Third | Fourth | Fiscal Year | |||||||||||||||||
(16 weeks) | (12 weeks) | (12 weeks) | (12 weeks) | (52 weeks) | |||||||||||||||||
Net sales (1) | $ | 5,242 | $ | 3,948 | $ | 4,012 | $ | 3,953 | $ | 17,155 | |||||||||||
Gross profit | $ | 796 | $ | 577 | $ | 569 | $ | 590 | $ | 2,532 | |||||||||||
Net (loss) earnings from continuing operations (2) | $ | (105 | ) | $ | 39 | $ | 32 | $ | 40 | $ | 6 | ||||||||||
Net earnings | $ | 85 | $ | 40 | $ | 31 | $ | 26 | $ | 182 | |||||||||||
Net (loss) earnings per share from continuing operations—diluted (3) | $ | (0.43 | ) | $ | 0.15 | $ | 0.12 | $ | 0.15 | $ | 0.02 | ||||||||||
Net earnings per share—diluted | $ | 0.34 | $ | 0.15 | $ | 0.12 | $ | 0.1 | $ | 0.7 | |||||||||||
Dividends declared per share | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Weighted average shares—diluted | 250 | 261 | 262 | 261 | 258 | ||||||||||||||||
2013 | |||||||||||||||||||||
First | Second | Third | Fourth | Fiscal Year | |||||||||||||||||
(16 weeks) | (12 weeks) | (12 weeks) | (12 weeks) | (52 weeks) | |||||||||||||||||
Net sales (1) | $ | 5,250 | $ | 3,939 | $ | 4,051 | $ | 3,899 | $ | 17,139 | |||||||||||
Gross profit | $ | 720 | $ | 529 | $ | 530 | $ | 557 | $ | 2,336 | |||||||||||
Net loss from continuing operations (5) | $ | (18 | ) | $ | (56 | ) | $ | (15 | ) | $ | (174 | ) | $ | (263 | ) | ||||||
Net earnings (loss) | $ | 41 | $ | (111 | ) | $ | 16 | $ | (1,412 | ) | $ | (1,466 | ) | ||||||||
Net loss per share from continuing operations—diluted (3) | $ | (0.08 | ) | $ | (0.26 | ) | $ | (0.07 | ) | $ | (0.82 | ) | $ | (1.24 | ) | ||||||
Net earnings (loss) per share—diluted (4) | $ | 0.19 | $ | (0.52 | ) | $ | 0.08 | $ | (6.65 | ) | $ | (6.91 | ) | ||||||||
Dividends declared per share | $ | 0.0875 | $ | — | $ | — | $ | — | $ | 0.0875 | |||||||||||
Weighted average shares—diluted | 214 | 212 | 214 | 212 | 212 | ||||||||||||||||
-1 | During the second quarter of fiscal 2014, the Company revised its presentation of fees earned under its transition services agreements. The Company historically presented fees earned under its transition services agreements as a reduction of Selling and administrative expenses. The presentation of such fees earned has been revised and they are now reflected as revenue, within Net sales of Corporate, for all periods. The revision had the effect of increasing both Net sales and Gross profit, with a corresponding increase in Selling and administrative expenses. These revisions did not impact Operating earnings (loss), Loss from continuing operations before income taxes, Net earnings (loss), cash flows, or financial position for any period reported. | ||||||||||||||||||||
-2 | Results from continuing operations for the fiscal year ended February 22, 2014 include net costs and charges of $235 before tax ($144 after tax, or $0.56 per diluted share), comprised of charges for the write-off of non-cash unamortized financing costs and original issue discount acceleration of $99 before tax ($60 after tax, or $0.24 per diluted share) and debt refinancing costs of $75 before tax ($47 after tax, or $0.18 per diluted share) recorded in Interest expense, net, severance costs and accelerated stock-based compensation charges of $46 before tax ($29 after tax, or $0.11 per diluted share), non-cash asset impairment and other charges of $16 before tax ($11 after tax, or $0.04 per diluted share), contract breakage and other costs of $6 before tax ($2 after tax, or $0.01 per diluted share) and a legal settlement charge of $5 before tax ($3 after tax, or $0.01 per diluted share) recorded in Selling and administrative expenses, and a multi-employer pension withdrawal charge of $3 before tax ($2 after tax, or $0.01 per diluted share) recorded in Gross profit, offset in part by a gain on sale of property of $15 before tax ($10 after tax, or $0.04 per diluted share) recorded in Selling and administrative expenses. | ||||||||||||||||||||
-3 | As a result of the net loss for the first quarter during fiscal 2014 and four quarters of fiscal 2013, all potentially dilutive shares were antidilutive and therefore excluded from the calculation of Net loss per share from continuing operations—diluted for these periods. | ||||||||||||||||||||
-4 | As a result of the net loss for the second and fourth quarters during fiscal 2013, all potentially dilutive shares were antidilutive and therefore excluded from the calculation of Net loss per share—diluted for these periods. | ||||||||||||||||||||
-5 | Results from continuing operations for the fiscal year ended February 23, 2013 included net charges and costs of $303 before tax ($187 after tax, or $0.88 per diluted share), comprised of non-cash asset impairment and other charges of $227 before tax ($140 after tax, or $0.66 per diluted share) and multi-employer pension withdrawal liability and severance costs of $36 before tax ($23 after tax, or $0.10 per diluted share) recorded in Selling and administrative expenses, a non-cash charge for the write-off unamortized financing costs of $22 before tax ($14 after tax, or $0.07 per diluted share) recorded in Interest expense, net, and store closure impairment charges of $22 before tax ($13 after tax, or $0.06 per diluted share) and intangible asset impairment charges of $6 before tax ($3 after tax, or $0.02 per diluted share), offset in part by a cash settlement received from credit card companies of $10 before tax ($6 after tax or, $0.03 per diluted share) recorded in Selling and administrative expenses. |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||
Valuation and Qualifying Accounts | ' | ||||||||||||||||
SUPERVALU INC. and Subsidiaries | |||||||||||||||||
SCHEDULE II—Valuation and Qualifying Accounts | |||||||||||||||||
(In millions) | |||||||||||||||||
Description | Balance at | Additions | Deductions | Balance at | |||||||||||||
Beginning of | End of Fiscal | ||||||||||||||||
Fiscal Year | Year | ||||||||||||||||
Allowance for losses on receivables: | |||||||||||||||||
2014 | $ | 5 | 16 | (12 | ) | $ | 9 | ||||||||||
2013 | 3 | 11 | (9 | ) | 5 | ||||||||||||
2012 | 4 | 6 | (7 | ) | 3 |
SUMMARY_OF_SIGNIFICANT_ACCOUNT1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Business Description | ' | ||||||||||||||||||||||||||||||||||||||||
Business Description | |||||||||||||||||||||||||||||||||||||||||
SUPERVALU INC. (“SUPERVALU” or the “Company”) operates primarily in the United States grocery channel. SUPERVALU provides supply chain services, primarily wholesale distribution, operates hard discount retail stores and licenses stores to independent operators under the Save-A-Lot banner, and operates five competitive, regionally-based traditional format grocery banners under the Cub Foods, Shoppers Food & Pharmacy, Shop ‘n Save, Farm Fresh and Hornbacher’s banners. | |||||||||||||||||||||||||||||||||||||||||
Principles of Consolidation | ' | ||||||||||||||||||||||||||||||||||||||||
Principles of Consolidation | |||||||||||||||||||||||||||||||||||||||||
The Consolidated Financial Statements include the accounts of the Company and all its wholly and majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. References to the Company refer to SUPERVALU INC. and Subsidiaries. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company entered into a stock purchase agreement (the “Stock Purchase Agreement”) to sell the Company’s New Albertson’s, Inc. subsidiary (“New Albertsons” or “NAI”), including the Acme, Albertsons, Jewel-Osco, Shaw’s and Star Market retail banners and the associated Osco and Sav-on in-store pharmacies (the “NAI Banner Sale”) to AB Acquisition LLC (“AB Acquisition”). The NAI Banner Sale was completed effective March 21, 2013, during the Company’s first quarter of fiscal 2014. The NAI operations disposed of under the NAI Banner Sale are reported as discontinued operations in the Consolidated Statements of Operations for all periods presented. The assets and liabilities of the NAI disposal group are presented as assets and liabilities of discontinued operations separately in the Consolidated Balance Sheets for all periods presented. Unless otherwise indicated, references to the Consolidated Statements of Operations and the Consolidated Balance Sheets in the Notes to the Consolidated Financial Statements exclude all amounts related to discontinued operations. See Note 14 – Discontinued Operations and Divestitures for additional information regarding these discontinued operations. | |||||||||||||||||||||||||||||||||||||||||
Fiscal Year | ' | ||||||||||||||||||||||||||||||||||||||||
Fiscal Year | |||||||||||||||||||||||||||||||||||||||||
The Company’s fiscal year ends on the last Saturday in February. The Company’s first quarter consists of 16 weeks while the second, third and fourth quarters each consist of 12 weeks. Because of differences in the accounting calendars of the Company and its former wholly-owned subsidiary NAI, the February 23, 2013 Consolidated Balance Sheets include the assets and liabilities of the NAI disposal group as of February 21, 2013. The last three fiscal years consist of 52 week periods ended February 22, 2014, February 23, 2013 and February 25, 2012. | |||||||||||||||||||||||||||||||||||||||||
Use of Estimates | ' | ||||||||||||||||||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||||||||||||||||||
The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the reporting periods presented. Actual results could differ from those estimates. | |||||||||||||||||||||||||||||||||||||||||
Segment Reclassification | ' | ||||||||||||||||||||||||||||||||||||||||
Segment Reclassification | |||||||||||||||||||||||||||||||||||||||||
During the first quarter of fiscal 2014, the Company reclassified the segment presentation of certain corporate administrative expenses and related fees earned under the Company’s transition services agreements, pension and other postretirement plan expenses for inactive and corporate participants in the SUPERVALU Retirement Plan and certain other corporate costs to reflect the structure under which the Company is now managed. These changes primarily resulted in the recast of net expenses from the Company’s Retail Food segment to Corporate for all periods presented and as previously reported in the Company’s Annual Report on Form 10-K for the fiscal year ended February 23, 2013 and February 25, 2012. These changes did not revise or restate information previously reported in the Company’s Consolidated Financial Statements for any period, except for the Consolidated Segment Financial Information. | |||||||||||||||||||||||||||||||||||||||||
Transition Services Agreement Revision | ' | ||||||||||||||||||||||||||||||||||||||||
Transition Services Agreement Revision | |||||||||||||||||||||||||||||||||||||||||
During the second quarter of fiscal 2014, the Company revised its presentation of fees earned under its transition services agreements. The Company historically presented fees earned under its transition services agreements as a reduction of Selling and administrative expenses in the Consolidated Statements of Operations. The presentation of such fees earned has been revised and they are now reflected as revenue, within Net sales of Corporate in the Consolidated Statements of Operations and Consolidated Segment Financial Information, for all periods. The revision had the effect of increasing both Net sales and Gross profit, with a corresponding increase in Selling and administrative expenses. These revisions did not impact Operating earnings (loss), Earnings (loss) from continuing operations before income taxes, Net earnings (loss), cash flows, or financial position for any period reported. Management has determined that the change in presentation is not material to any period reported. Prior period amounts shown below have been revised to conform to the current period presentation. | |||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the reclassification of fees earned under transition services agreements on the Company’s Consolidated Statements of Operations for the comparative periods being presented in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
Year Ended February 23, 2013 | Year Ended February 25, 2012 | ||||||||||||||||||||||||||||||||||||||||
As Originally | % of Net | Revision | As | % of Net | As Originally | % of Net | Revision | As | % of Net | ||||||||||||||||||||||||||||||||
Reported | sales | Revised | sales | Reported | sales | Revised | sales | ||||||||||||||||||||||||||||||||||
Net sales | $ | 17,097 | 100 | % | $ | 42 | $ | 17,139 | 100 | % | $ | 17,336 | 100 | % | $ | 47 | $ | 17,383 | 100 | % | |||||||||||||||||||||
Cost of sales | 14,803 | 86.6 | % | — | 14,803 | 86.4 | % | 14,926 | 86.1 | % | — | 14,926 | 85.9 | % | |||||||||||||||||||||||||||
Gross profit | 2,294 | 13.4 | % | 42 | 2,336 | 13.6 | % | 2,410 | 13.9 | % | 47 | 2,457 | 14.1 | % | |||||||||||||||||||||||||||
Selling and administrative expenses | 2,445 | 14.3 | % | 42 | 2,487 | 14.5 | % | 2,222 | 12.8 | % | 47 | 2,269 | 13.1 | % | |||||||||||||||||||||||||||
Goodwill and intangible asset impairment charges | 6 | — | — | 6 | — | 92 | 0.5 | % | — | 92 | 0.5 | % | |||||||||||||||||||||||||||||
Operating (loss) earnings | $ | (157 | ) | (0.9 | )% | $ | — | $ | (157 | ) | (0.9 | )% | $ | 96 | 0.6 | % | $ | — | $ | 96 | 0.6 | % | |||||||||||||||||||
The Company earned $42 and $47 of fees under a previous transition services agreement during fiscal 2013 and 2012, respectively. The Company’s previous transition services agreement with Albertson’s LLC was replaced with transition services agreements with each of NAI and Albertson’s LLC at the close of the NAI Banner Sale. See Note 14 – Discontinued Operations and Divestitures for additional information regarding the Company’s transition services agreements. Fees earned under the transition services agreements are recognized as the administrative services are rendered, which align with the recognition of administrative expenses required to support the transition services agreements. | |||||||||||||||||||||||||||||||||||||||||
Segment Revision | ' | ||||||||||||||||||||||||||||||||||||||||
Segment Revision | |||||||||||||||||||||||||||||||||||||||||
The Company revised its segment presentation of Operating earnings for Retail Food and Corporate for results previously reported in the first quarter of fiscal 2014 to reflect certain allocated administrative costs as Retail Food costs as a part of the Company’s segment reclassification described above. The revision had the effect of decreasing Retail Food’s operating earnings by $20 as reported in the Company’s Quarterly Reports on Form 10-Q for the first quarter of fiscal 2014 and the year-to-date presentation of the results in the second and third quarters of fiscal 2014. A corresponding increase in Corporate operating earnings of $20 also occurred. The revision did not have an impact on consolidated Operating earnings for any period. Management has determined that the change in presentation is not material to any period reported. | |||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the segment revision of certain administrative costs in the Company’s Consolidated Segment Financial for the Quarterly Report on Form 10-Q for the period ended June 15, 2013. | |||||||||||||||||||||||||||||||||||||||||
First Quarter Ended June 15, 2013 | Year-to-Date Ended September 7, 2013 | Year-to-Date Ended November 30, 2013 | |||||||||||||||||||||||||||||||||||||||
As | Revision | As | As | Revision | As | As | Revision | As | |||||||||||||||||||||||||||||||||
Originally | Revised | Originally | Revised | Originally | Revised | ||||||||||||||||||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||||||||||||||||||
Operating earnings | |||||||||||||||||||||||||||||||||||||||||
Independent Business | $ | 55 | $ | — | $ | 55 | $ | 128 | $ | — | $ | 128 | $ | 181 | $ | — | $ | 181 | |||||||||||||||||||||||
% of Independent Business sales | 2.3 | % | — | % | 2.3 | % | 3 | % | — | % | 3 | % | 2.9 | % | — | % | 2.9 | % | |||||||||||||||||||||||
Save-A-Lot | 52 | — | 52 | 84 | — | 84 | 124 | — | 124 | ||||||||||||||||||||||||||||||||
% of Save-A-Lot sales | 4.1 | % | — | % | 4.1 | % | 3.7 | % | — | % | 3.7 | % | 3.8 | % | — | % | 3.8 | % | |||||||||||||||||||||||
Retail Food | 25 | (20 | ) | 5 | 32 | (20 | ) | 12 | 56 | (20 | ) | 36 | |||||||||||||||||||||||||||||
% of Retail Food sales | 1.7 | % | (1.4 | )% | 0.3 | % | 1.3 | % | (0.8 | )% | 0.5 | % | 1.6 | % | (0.6 | )% | 1 | % | |||||||||||||||||||||||
Corporate | (50 | ) | 20 | (30 | ) | (50 | ) | 20 | (30 | ) | (62 | ) | 20 | (42 | ) | ||||||||||||||||||||||||||
Total operating earnings | $ | 82 | $ | — | $ | 82 | $ | 194 | $ | — | $ | 194 | $ | 299 | $ | — | $ | 299 | |||||||||||||||||||||||
% of total net sales | 1.6 | % | — | % | 1.6 | % | 2.1 | % | — | % | 2.1 | % | 2.3 | % | — | % | 2.3 | % | |||||||||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||||||||||||||||||
Revenues from product sales are recognized upon delivery for the Independent Business segment, at the point of sale for Save-A-Lot’s retail operations, and upon delivery for Save-A-Lot’s independent licensees, and at the point of sale for the Retail Food segment. Typically, invoicing, shipping, delivery and customer receipt of Independent Business product occur on the same business day. Revenues from services rendered are recognized immediately after such services have been provided. Discounts and allowances provided to customers by the Company at the time of sale, including those provided in connection with loyalty cards, are recognized as a reduction in Net sales as the products are sold to customers. Sales tax is excluded from Net sales. | |||||||||||||||||||||||||||||||||||||||||
Revenues and costs from third-party logistics operations are recorded gross when the Company is the primary obligor in a transaction, is subject to inventory or credit risk, has latitude in establishing price and selecting suppliers, or has several, but not all of these indicators. If the Company is not the primary obligor and amounts earned have little or no inventory or credit risk, revenue is recorded net as management fees when earned. | |||||||||||||||||||||||||||||||||||||||||
Cost of Sales | ' | ||||||||||||||||||||||||||||||||||||||||
Cost of Sales | |||||||||||||||||||||||||||||||||||||||||
Cost of sales in the Consolidated Statements of Operations includes cost of inventory sold during the period, including purchasing, receiving, warehousing and distribution costs, and shipping and handling fees. | |||||||||||||||||||||||||||||||||||||||||
Save-A-Lot and Retail Food advertising expenses are a component of Cost of sales and are expensed as incurred. Save-A-Lot and Retail Food advertising expenses, net of cooperative advertising reimbursements, were $63, $86 and $69 for fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
The Company receives allowances and credits from vendors for volume incentives, promotional allowances and, to a lesser extent, new product introductions which are typically based on contractual arrangements covering a period of one year or less. The Company recognizes vendor funds for merchandising and buying activities as a reduction of Cost of sales when the related products are sold. Vendor funds that have been earned as a result of completing the required performance under the terms of the underlying agreements but for which the product has not yet been sold are recognized as reductions of inventory. When payments or rebates can be reasonably estimated and it is probable that the specified target will be met, the payment or rebate is accrued. However, when attaining the milestone is not probable, the payment or rebate is recognized only when and if the milestone is achieved. Any upfront payments received for multi-period contracts are generally deferred and amortized on a straight-line basis over the life of the contracts. | |||||||||||||||||||||||||||||||||||||||||
Selling and Administrative Expenses | ' | ||||||||||||||||||||||||||||||||||||||||
Selling and Administrative Expenses | |||||||||||||||||||||||||||||||||||||||||
Selling and administrative expenses consist primarily of store and corporate employee-related costs, such as salaries and wages, health and welfare, worker’s compensation and pension benefits, as well as rent, occupancy and operating costs, depreciation and amortization, impairment charges on property, plant and equipment and other administrative costs. | |||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||||||||||||||
The Company considers all highly liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents. The Company’s banking arrangements allow the Company to fund outstanding checks when presented to the financial institution for payment. The Company funds all intraday bank balance overdrafts during the same business day. Checks outstanding in excess of bank balances create book overdrafts, which are recorded in Accounts payable in the Consolidated Balance Sheets and are reflected as an operating activity in the Consolidated Statements of Cash Flows. As of February 22, 2014 and February 23, 2013, the Company had net book overdrafts of $134 and $131, respectively. | |||||||||||||||||||||||||||||||||||||||||
Allowances for Losses on Receivables | ' | ||||||||||||||||||||||||||||||||||||||||
Allowances for Losses on Receivables | |||||||||||||||||||||||||||||||||||||||||
Management makes estimates of the uncollectibility of its accounts and notes receivable portfolios. In determining the adequacy of the allowances, management analyzes the value of the collateral, customer financial statements, historical collection experience, aging of receivables and other economic and industry factors. It is possible that the accuracy of the estimation process could be materially impacted by different judgments, estimations and assumptions based on the information considered and result in a further deterioration of accounts and notes receivable. The allowance for losses on receivables was $9 and $5 at February 22, 2014 and February 23, 2013, respectively. Bad debt expense was $16, $11 and $6 in fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
Inventories, Net | ' | ||||||||||||||||||||||||||||||||||||||||
Inventories, Net | |||||||||||||||||||||||||||||||||||||||||
Inventories are valued at the lower of cost or market. Substantially all of the Company’s inventory consists of finished goods. | |||||||||||||||||||||||||||||||||||||||||
The Company uses one of either replacement cost, weighted average cost, or the retail inventory method (“RIM”) to value discrete inventory items at lower of cost or market before application of any last-in, first-out (“LIFO”) reserve. As of February 22, 2014 and February 23, 2013, approximately 57 percent and 60 percent, respectively, of the Company’s inventories were valued under the LIFO method. | |||||||||||||||||||||||||||||||||||||||||
As of February 22, 2014 and February 23, 2013, approximately 5 percent of the Company’s inventories were valued under the replacement cost method before application of any LIFO reserve. The weighted average cost and RIM methods of inventory valuation together comprised approximately 52 percent and 55 percent of inventory as of February 22, 2014 and February 23, 2013, respectively, before application of any LIFO reserve. | |||||||||||||||||||||||||||||||||||||||||
Under the replacement cost method applied on a LIFO basis, the most recent purchase cost is used to calculate the current cost of inventory before application of any LIFO reserve. The replacement cost approach results in inventories being valued at the lower of cost or market because of the high inventory turnover and the resulting low inventory days supply on hand combined with infrequent vendor price changes for these items of inventory. | |||||||||||||||||||||||||||||||||||||||||
The Company uses one of either cost, weighted average cost, RIM or replacement cost to value certain discrete inventory items under the first-in, first-out method (“FIFO”). The replacement cost approach under the FIFO method is predominantly utilized in determining the value of high turnover perishable items, including Produce, Deli, Bakery, Meat and Floral. | |||||||||||||||||||||||||||||||||||||||||
As of February 22, 2014 and February 23, 2013, approximately 25 percent and 23 percent, respectively, of the Company’s inventories were valued using the cost, weighted average cost and RIM methods under the FIFO method of inventory accounting. The remaining 18 percent and 17 percent of the Company’s inventories as of February 22, 2014 and February 23, 2013, respectively, were valued using the replacement cost approach under the FIFO method of inventory accounting. The replacement cost approach applied under the FIFO method results in inventories recorded at the lower of cost or market because of the very high inventory turnover and the resulting low inventory days supply for these items of inventory. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2014, 2013 and 2012, inventory quantities in certain LIFO layers were reduced. These reductions resulted in a liquidation of LIFO inventory quantities carried at lower costs prevailing in prior years as compared with the cost of fiscal 2014, 2013 and 2012 purchases. As a result, Cost of sales decreased by $14, $6 and $9 in fiscal 2014, 2013 and 2012, respectively. If the FIFO method had been used to determine cost of inventories for which the LIFO method is used, the Company’s inventories would have been higher by approximately $202 and $211 as of February 22, 2014 and February 23, 2013, respectively. | |||||||||||||||||||||||||||||||||||||||||
The Company evaluates inventory shortages throughout each fiscal year based on actual physical counts in its facilities. Allowances for inventory shortages are recorded based on the results of these counts to provide for estimated shortages as of the end of each fiscal year. | |||||||||||||||||||||||||||||||||||||||||
Reserves for Closed Properties | ' | ||||||||||||||||||||||||||||||||||||||||
Reserves for Closed Properties | |||||||||||||||||||||||||||||||||||||||||
The Company maintains reserves for costs associated with closures of retail stores, distribution centers and other properties that are no longer being utilized in current operations. The Company provides for closed property lease liabilities based on the present value of the remaining noncancellable lease payments after the closing date, reduced by estimated subtenant rentals that could be reasonably obtained for the property. | |||||||||||||||||||||||||||||||||||||||||
The closed property lease liabilities usually are paid over the remaining lease terms, which generally range from one to 15 years. Adjustments to closed property reserves primarily relate to changes in subtenant income or actual exit costs differing from original estimates. Adjustments are made for changes in estimates in the period in which the changes become known. | |||||||||||||||||||||||||||||||||||||||||
Business Dispositions | ' | ||||||||||||||||||||||||||||||||||||||||
Business Dispositions | |||||||||||||||||||||||||||||||||||||||||
The Company reviews the presentation of planned business dispositions in the Consolidated Financial Statements based on the available information and events that have occurred. | |||||||||||||||||||||||||||||||||||||||||
The review consists of evaluating whether the business meets the definition as a component for which the operations and cash flows are clearly distinguishable from the other components of the business, and if so, whether it is anticipated that after the disposal the cash flows of the component would be eliminated from continuing operations and whether the Company will have any significant continuing involvement with the business. In addition, the Company evaluates whether the business has met the criteria to be classified as a business held for sale. In order for a planned disposition to be classified as a business held for sale, the established criteria must be met as of the reporting date, including an active program to market the business and the expected disposition of the business within one year. | |||||||||||||||||||||||||||||||||||||||||
Planned business dispositions are presented as discontinued operations when all the criteria described above are met. Operations of the business components meeting the discontinued operations requirements are presented within Income (loss) from discontinued operations, net of tax in the Consolidated Statements of Operations, and assets and liabilities of the business component planned to be disposed of are presented as separate lines within the Consolidated Balance Sheets. The estimated loss on the sale of NAI was recorded within Current liabilities of discontinued operations as of February 23, 2013. See Note 14 – Discontinued Operations and Divestitures. | |||||||||||||||||||||||||||||||||||||||||
Businesses held for sale are reviewed for recoverability of the carrying value of the business upon meeting the classification requirements. Evaluating the recoverability of the assets of a business classified as held for sale follows a defined order in which property and intangible assets subject to amortization are considered only after the recoverability of goodwill, indefinite lived intangible assets and other assets are assessed. After the valuation process is completed, the held for sale business is reported at the lower of its carrying value or fair value less cost to sell, and no additional depreciation or amortization expense is recognized. The carrying value of a held for sale business includes the portion of the accumulated other comprehensive loss associated with pension and postretirement benefit obligations of the operations of the business. | |||||||||||||||||||||||||||||||||||||||||
There are inherent judgments and estimates used in determining impairment charges. The sale of a business can result in the recognition of a gain or loss that differs from that anticipated prior to closing. | |||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Net | ' | ||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment, Net | |||||||||||||||||||||||||||||||||||||||||
Property, plant and equipment are carried at cost. Depreciation is based on the estimated useful lives of the assets using the straight-line method. Estimated useful lives generally are 10 to 40 years for buildings and major improvements, three to 10 years for equipment, and the shorter of the term of the lease or expected life for leasehold improvements and capitalized lease assets. Interest on property under construction of $1, $4 and $6 was capitalized in fiscal 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | |||||||||||||||||||||||||||||||||||||||||
Goodwill | |||||||||||||||||||||||||||||||||||||||||
The Company reviews goodwill for impairment during the fourth quarter of each year, and also if events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. The reviews consist of comparing estimated fair value to the carrying value at the reporting unit level. The Company’s reporting units are the operating segments of the business which consist of Independent Business, Save-A-Lot and Retail Food. As of February 22, 2014, Goodwill balances existed in the Save-A-Lot and Independent Business reporting units. Fair values are determined by using both the market approach, applying a multiple of earnings based on the guideline publicly traded company method, and the income approach, discounting projected future cash flows based on management’s expectations of the current and future operating environment. The rates used to discount projected future cash flows reflect a weighted average cost of capital based on the Company’s industry, capital structure and risk premiums in each reporting unit including those reflected in the current market capitalization. If management identifies the potential for impairment of goodwill, the fair value of the implied goodwill is calculated as the difference between the fair value of the reporting unit and the fair value of the underlying assets and liabilities, excluding goodwill. An impairment charge is recorded for any excess of the carrying value over the implied fair value. | |||||||||||||||||||||||||||||||||||||||||
The Company reviews the composition of its reporting units on an annual basis and on an interim basis if events or circumstances indicate that the composition of the Company’s reporting units may have changed. There were no changes in the Company’s reporting units as a result of the fiscal 2014 and 2013 reviews. | |||||||||||||||||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||||||||||||||||
The Company also reviews intangible assets with indefinite useful lives, which primarily consist of trademarks and tradenames, for impairment during the fourth quarter of each year, and also if events or changes in circumstances indicate that the asset might be impaired. The reviews consist of comparing estimated fair value to the carrying value. Fair values of the Company’s trademarks and tradenames are determined primarily by discounting an assumed royalty value applied to management’s estimate of projected future revenues associated with the tradename using management’s expectations of the current and future operating environment. The royalty cash flows are discounted using rates based on the weighted average cost of capital discussed above and the specific risk profile of the tradenames relative to the Company’s other assets. These estimates are impacted by variable factors including inflation, the general health of the economy and market competition. The calculation of the impairment charge contains significant judgments and estimates including weighted average cost of capital and the specified risk profile of the tradename and future revenue and profitability. Refer to Note 2—Goodwill and Intangible Assets in the accompanying Notes to Consolidated Financial Statements for the results of the goodwill and intangible assets with indefinite useful lives testing performed during fiscal 2014 and 2013. | |||||||||||||||||||||||||||||||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||||||||||||||||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||||||||||||||||||||||||||
The Company monitors the recoverability of its long-lived assets such as buildings and equipment, and evaluates their carrying value for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be fully recoverable. Events that may trigger such an evaluation include current period losses combined with a history of losses or a projection of continuing losses, a significant decrease in the market value of an asset or the Company’s plans for store closures. When such events or changes in circumstances occur, a recoverability test is performed by comparing projected undiscounted future cash flows to the carrying value of the group of assets being tested. | |||||||||||||||||||||||||||||||||||||||||
If impairment is identified for long-lived assets to be held and used, the fair value is compared to the carrying value of the group of assets and an impairment charge is recorded for the excess of the carrying value over the fair value. For long-lived assets that are classified as assets held for sale, the Company recognizes impairment charges for the excess of the carrying value plus estimated costs of disposal over the estimated fair value. Fair value is based on current market values or discounted future cash flows using Level 3 inputs. The Company estimates fair value based on the Company’s experience and knowledge of the market in which the property is located and, when necessary, utilizes local real estate brokers. The Company’s estimate of undiscounted cash flows attributable to the asset groups included only future cash flows that are directly associated with and that are expected to arise as a direct result of the use and eventual disposition of the asset group. Long-lived asset impairment charges are a component of Selling and administrative expenses in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
The Company groups long-lived assets with other assets at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets, which historically has predominately been at the geographic market level but individual store asset groupings have been assessed in certain circumstances. Independent Business’s long-lived assets are reviewed for impairment at the distribution center level. Save-A-Lot’s long-lived assets are reviewed for impairment at the geographic market level for 11 geographic market groupings of individual corporate-owned stores and related dedicated distribution centers and individual corporate store level for 29 individual corporate stores which were part of previous asset groups for which management determined that the cash flows in those geographic market areas were no longer interdependent. Retail Food’s long-lived assets are reviewed for impairment at the geographic market group level for five geographic market groupings of individual retail stores. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company determined it would be more appropriate to evaluate long-lived assets for impairment at the store level for two geographic markets within the Save-A-Lot segment. These markets continued to show higher indicators of economic decline that led to revised operating market strategies, such as the identification of a significant number of stores for closure within one geographic market asset group and the determined that Save-A-Lot was no longer expanding or maintaining another geographic market group. As such, these geographic market groups were not generating joint cash flows from the operation of the asset group, resulting in the disaggregation of the asset groups. These asset group disaggregations triggered a store-level impairment review within these previous geographic market asset groups, which resulted in a non-cash impairment charge of approximately $8 in fiscal 2013. | |||||||||||||||||||||||||||||||||||||||||
Due to the ongoing business transformation and highly competitive environment, the Company will continue to evaluate its long-lived asset policy and current asset groups, to determine if additional modifications to the policy are necessary. Future changes to the Company’s assessment of its long-lived asset policy and changes in circumstances, operating results or other events may result in additional asset impairment testing and charges. | |||||||||||||||||||||||||||||||||||||||||
During fiscal 2013, the Company announced the closure of approximately 22 non-strategic stores within the Save-A-Lot segment including the exit of a geographic market, resulting in an impairment of $16 related to these stores’ long-lived assets. See Note 3 – Reserves for Closed Properties and Property, Plant and Equipment-Related Impairment Charges. | |||||||||||||||||||||||||||||||||||||||||
Deferred Rent | ' | ||||||||||||||||||||||||||||||||||||||||
Deferred Rent | |||||||||||||||||||||||||||||||||||||||||
The Company recognizes rent holidays, including the time period during which the Company has access to the property prior to the opening of the site, as well as construction allowances and escalating rent provisions, on a straight-line basis over the term of the operating lease. The deferred rents are included in Other current liabilities and Other long-term liabilities in the Consolidated Balance Sheets. | |||||||||||||||||||||||||||||||||||||||||
Self-Insurance Liabilities | ' | ||||||||||||||||||||||||||||||||||||||||
Self-Insurance Liabilities | |||||||||||||||||||||||||||||||||||||||||
The Company uses a combination of insurance and self-insurance for workers’ compensation, automobile and general liability costs. It is the Company’s policy to record its insurance liabilities based on management’s estimate of the ultimate cost of reported claims and claims incurred but not yet reported and related expenses, discounted at a risk-free interest rate. The present value of such claims was calculated using discount rates ranging from 0.3 percent to 5.1 percent for fiscal 2014 and 0.4 percent to 5.1 percent for fiscal 2013 and 2012. | |||||||||||||||||||||||||||||||||||||||||
Changes in the Company’s insurance liabilities consisted of the following: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 97 | $ | 93 | $ | 96 | |||||||||||||||||||||||||||||||||||
Expense | 39 | 31 | 22 | ||||||||||||||||||||||||||||||||||||||
Claim payments | (33 | ) | (27 | ) | (25 | ) | |||||||||||||||||||||||||||||||||||
Ending balance | 103 | 97 | 93 | ||||||||||||||||||||||||||||||||||||||
Less current portion | (33 | ) | (27 | ) | (26 | ) | |||||||||||||||||||||||||||||||||||
Long-term portion | $ | 70 | $ | 70 | $ | 67 | |||||||||||||||||||||||||||||||||||
The current portion of reserves for self-insurance is included in Other current liabilities and the long-term portion is included in Other long-term liabilities in the Consolidated Balance Sheets. The insurance liabilities as of the end of the fiscal year are net of discounts of $7 as of February 22, 2014 and February 23, 2013. | |||||||||||||||||||||||||||||||||||||||||
Benefit Plans | ' | ||||||||||||||||||||||||||||||||||||||||
Benefit Plans | |||||||||||||||||||||||||||||||||||||||||
The Company recognizes the funded status of its Company sponsored defined benefit plans in its Consolidated Balance Sheets and gains or losses and prior service costs or credits not yet recognized as a component of Other comprehensive income (loss), net of tax, in the Consolidated Statements of Stockholders’ (Deficit) Equity. The Company sponsors pension and other postretirement plans in various forms covering substantially all employees who meet eligibility requirements. The determination of the Company’s obligation and related expense for Company-sponsored pension and other postretirement benefits is dependent, in part, on management’s selection of certain actuarial assumptions in calculating these amounts. These assumptions include, among other things, the discount rate, the expected long-term rate of return on plan assets and the rates of increase in compensation and healthcare costs. These assumptions are disclosed in Note 11—Benefit. Actual results that differ from the assumptions are accumulated and amortized over future periods in accordance with generally accepted accounting standards. | |||||||||||||||||||||||||||||||||||||||||
The Company contributes to various multiemployer pension plans under collective bargaining agreements, primarily defined benefit pension plans. Pension expense for these plans is recognized as contributions are funded. See Note 11—Benefit Plans for additional information on the Company’s participation in those multiemployer plans. | |||||||||||||||||||||||||||||||||||||||||
The Company also contributes to several employee 401(k) retirement savings plans. | |||||||||||||||||||||||||||||||||||||||||
Derivatives | ' | ||||||||||||||||||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||||||||||||||||||
The Company’s limited involvement with derivatives is primarily to manage its exposure to changes in energy prices utilized in the shipping process, and in the Company’s stores and warehouses. The Company uses derivatives only to manage well-defined risks. The Company does not use financial instruments or derivatives for any trading or other speculative purposes. The Company enters into energy commitments that it expects to utilize in the normal course of business. The fair value of the Company’s derivatives was insignificant as of February 22, 2014 and February 23, 2013. | |||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||||||||||||||||||
The Company uses the straight-line method to recognize stock-based compensation expense over the requisite service period related to each award. Stock-based compensation expense is measured by the fair value of the award on the date of grant, net of the estimated forfeiture rate. | |||||||||||||||||||||||||||||||||||||||||
The fair value of stock options is estimated as of the date of grant using the Black-Scholes option pricing model using Level 3 inputs. The estimation of the fair value of stock options incorporates certain assumptions, such as risk-free interest rate and expected volatility, dividend yield and life of options. | |||||||||||||||||||||||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||||||||||||||||||
Deferred income taxes represent future net tax effects resulting from temporary differences between the financial statement amounts and tax bases of assets and liabilities, and are measured using enacted tax rates in effect for the year in which the differences are expected to be settled or realized. See Note 8—Income Taxes for the types of differences that give rise to significant portions of deferred income tax assets and liabilities. Deferred income tax assets are reported as a current or noncurrent asset or liability based on the classification of the related asset or liability or according to the expected date of reversal. | |||||||||||||||||||||||||||||||||||||||||
The Company is currently in various stages of audits, appeals or other methods of review with authorities from various taxing jurisdictions. The Company establishes liabilities for unrecognized tax benefits in a variety of taxing jurisdictions when, despite management’s belief that the Company’s tax return positions are supportable, certain positions may be challenged and may need to be revised. The Company adjusts these liabilities in light of changing facts and circumstances, such as the progress of a tax audit. The Company also provides interest on these liabilities at the appropriate statutory interest rate, and accrues penalties as applicable. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties in Selling and administrative expenses in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
Net Earnings (Loss) Per Share | ' | ||||||||||||||||||||||||||||||||||||||||
Net Earnings (Loss) Per Share | |||||||||||||||||||||||||||||||||||||||||
Basic net earnings (loss) per share is calculated using net earnings (loss) available to common stockholders divided by the weighted average number of shares outstanding during the period. Diluted net earnings (loss) per share is similar to basic net earnings per share except that the weighted average number of shares outstanding is computed after giving effect to the dilutive impacts of stock options, performance awards and restricted stock awards (collectively referred to as “stock-based awards”). | |||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||||||||||||||
The Company reports comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). Comprehensive income (loss) includes all changes in stockholders’ deficit during the applicable reporting period, other than those resulting from investments by and distributions to stockholders. The Company’s comprehensive income (loss) is calculated as net earnings (loss) plus or minus adjustments for pension and other postretirement benefit obligations, net of tax. | |||||||||||||||||||||||||||||||||||||||||
Accumulated other comprehensive loss represents the cumulative balance of other comprehensive income (loss), net of tax, as of the end of the reporting period and relates to pension and other postretirement benefit obligation adjustments, net of tax. Changes in Accumulated other comprehensive loss by component follows below: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at beginning of the fiscal year, net of tax | $ | (612 | ) | $ | (657 | ) | $ | (446 | ) | ||||||||||||||||||||||||||||||||
Other comprehensive income (loss), net of tax (expense) benefit of $(123), $(22) and $129, respectively | 257 | 45 | (211 | ) | |||||||||||||||||||||||||||||||||||||
Divestiture of NAI pension plan accumulated other comprehensive loss, net of tax of $(31) | 48 | — | — | ||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at the end of period, net of tax | $ | (307 | ) | $ | (612 | ) | $ | (657 | ) | ||||||||||||||||||||||||||||||||
Upon completion of the NAI Banner Sale in the first quarter of fiscal 2014, the Company disposed approximately $48 of Accumulated other comprehensive loss, which was a component of Stockholders’ deficit in the Consolidated Balance Sheets as of February 23, 2013, due to NAI’s assumption of a defined benefit pension plan established and operated under NAI. The accumulated other comprehensive loss assumed by NAI was a component of the preliminary estimated loss on the sale of NAI accrued in Current liabilities of discontinued operations in the Consolidated Balance Sheet as of February 23, 2013 and recognized in Income (loss) from discontinued operations, net of tax in fiscal 2013. See Note 11—Benefit Plans for information regarding the recognition of pension and other postretirement benefit obligation activity within the Consolidated Statements of Comprehensive Income (Loss). | |||||||||||||||||||||||||||||||||||||||||
Common and Treasury Stock | ' | ||||||||||||||||||||||||||||||||||||||||
Common and Treasury Stock | |||||||||||||||||||||||||||||||||||||||||
Concurrent with the execution of the Stock Purchase Agreement, the Company entered into a Tender Offer Agreement (the “Tender Offer Agreement”) with Symphony Investors LLC, which is owned by a Cerberus Capital Management, L.P. (“Cerberus”)-led investor consortium (“Symphony Investors”), and Cerberus, pursuant to which, upon the terms and subject to the conditions of the Tender Offer Agreement, and contingent upon the NAI Banner Sale, Symphony Investors tendered for up to 30 percent of the issued and outstanding common stock of the Company at a purchase price of $4.00 per share in cash (the “Tender Offer”). Approximately 12 shares were validly tendered, representing approximately 5.5 percent of the issued and outstanding shares at the time of the Tender Offer expiration on March 20, 2013. All shares that were validly tendered and not properly withdrawn were accepted as tendered in accordance with the terms of Tender Offer. | |||||||||||||||||||||||||||||||||||||||||
In addition, pursuant to the terms of the Tender Offer Agreement, on March 21, 2013, the Company issued approximately 42 additional shares of common stock (approximately 19.9 percent of outstanding shares prior to the share issuance) to Symphony Investors at the Tender Offer price per share of $4.00, resulting in $170 in cash proceeds to the Company, which brought Symphony Investors ownership percentage to 21.2 percent after the share issuance. The Tender Offer Agreement provides that until the second anniversary of the closing of the Tender Offer, transfers of shares acquired by Symphony Investors in the Tender Offer and from the Company pursuant to the Tender Offer Agreement will be generally restricted, with more limited restrictions thereafter. Following that period, the Company has agreed to customary obligations to register the shares acquired by Symphony Investors with the Securities and Exchange Commission if requested by Symphony Investors. | |||||||||||||||||||||||||||||||||||||||||
Recently Adopted Accounting Standards | ' | ||||||||||||||||||||||||||||||||||||||||
Recently Adopted Accounting Standards | |||||||||||||||||||||||||||||||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued authoritative guidance under ASU 2013-02 surrounding the presentation of items reclassified from accumulated other comprehensive income (loss) to net earnings (loss). This guidance requires entities to disclose, either in the notes to the consolidated financial statements or parenthetically on the face of the statement that reports comprehensive income (loss), items reclassified out of accumulated other comprehensive income (loss) and into net earnings (loss) in their entirety by component, and the effect of the reclassification on each affected Consolidated Statement of Operations line item. In addition, for accumulated other comprehensive income (loss) reclassification items that are not reclassified in their entirety into net earnings (loss), a cross reference to other required accounting standard disclosures is required. The Company adopted ASU 2013-02 in fiscal 2014. Accordingly, additional footnote disclosure is provided within Note 1 – Summary of Significant Accounting Policies in these Notes to Consolidated Financial Statements. The adoption had no effect on the Company’s results of operations or financial position. | |||||||||||||||||||||||||||||||||||||||||
Recently Issued Accounting Standards | ' | ||||||||||||||||||||||||||||||||||||||||
Recently Issued Accounting Standards | |||||||||||||||||||||||||||||||||||||||||
In July 2013, the FASB issued authoritative guidance under ASU 2013-11, which provides guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires entities to present an unrecognized tax benefit as a reduction of a deferred tax asset for a NOL or tax credit carryforward whenever the NOL or tax credit carryforward would be available to reduce the additional taxable income or tax due if the tax position is disallowed. This accounting standard update requires entities to assess whether to net the unrecognized tax benefit with a deferred tax asset as of the reporting date. ASU 2013-11 will be effective for the Company’s first quarter of fiscal 2015. The Company is currently evaluating the impact of this accounting standard update on its Consolidated Financial Statements. |
SUMMARY_OF_SIGNIFICANT_ACCOUNT2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||||||||||||||||
Effect of Revision of Fees Received Under Transitional Services Agreements | ' | ||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the reclassification of fees earned under transition services agreements on the Company’s Consolidated Statements of Operations for the comparative periods being presented in the Consolidated Statements of Operations. | |||||||||||||||||||||||||||||||||||||||||
Year Ended February 23, 2013 | Year Ended February 25, 2012 | ||||||||||||||||||||||||||||||||||||||||
As Originally | % of Net | Revision | As Revised | % of Net | As Originally | % of Net | Revision | As | % of Net | ||||||||||||||||||||||||||||||||
Reported | sales | sales | Reported | sales | Revised | sales | |||||||||||||||||||||||||||||||||||
Net sales | $ | 17,097 | 100 | % | $ | 42 | $ | 17,139 | 100 | % | $ | 17,336 | 100 | % | $ | 47 | $ | 17,383 | 100 | % | |||||||||||||||||||||
Cost of sales | 14,803 | 86.6 | % | — | 14,803 | 86.4 | % | 14,926 | 86.1 | % | — | 14,926 | 85.9 | % | |||||||||||||||||||||||||||
Gross profit | 2,294 | 13.4 | % | 42 | 2,336 | 13.6 | % | 2,410 | 13.9 | % | 47 | 2,457 | 14.1 | % | |||||||||||||||||||||||||||
Selling and administrative expenses | 2,445 | 14.3 | % | 42 | 2,487 | 14.5 | % | 2,222 | 12.8 | % | 47 | 2,269 | 13.1 | % | |||||||||||||||||||||||||||
Goodwill and intangible asset impairment charges | 6 | — | — | 6 | — | 92 | 0.5 | % | — | 92 | 0.5 | % | |||||||||||||||||||||||||||||
Operating (loss) earnings | $ | (157 | ) | (0.9 | )% | $ | — | $ | (157 | ) | (0.9 | )% | $ | 96 | 0.6 | % | $ | — | $ | 96 | 0.6 | % | |||||||||||||||||||
Effect of Segment Revision of Administrative Costs | ' | ||||||||||||||||||||||||||||||||||||||||
The following table represents the effect of the segment revision of certain administrative costs in the Company’s Consolidated Segment Financial for the Quarterly Report on Form 10-Q for the period ended June 15, 2013. | |||||||||||||||||||||||||||||||||||||||||
First Quarter Ended | Year-to-Date Ended | Year-to-Date Ended | |||||||||||||||||||||||||||||||||||||||
June 15, 2013 | September 7, 2013 | November 30, 2013 | |||||||||||||||||||||||||||||||||||||||
As | Revision | As | As | Revision | As | As | Revision | As | |||||||||||||||||||||||||||||||||
Originally | Revised | Originally | Revised | Originally | Revised | ||||||||||||||||||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||||||||||||||||||
Operating earnings | |||||||||||||||||||||||||||||||||||||||||
Independent Business | $ | 55 | $ | — | $ | 55 | $ | 128 | $ | — | $ | 128 | $ | 181 | $ | — | $ | 181 | |||||||||||||||||||||||
% of Independent Business sales | 2.3 | % | — | % | 2.3 | % | 3 | % | — | % | 3 | % | 2.9 | % | — | % | 2.9 | % | |||||||||||||||||||||||
Save-A-Lot | 52 | — | 52 | 84 | — | 84 | 124 | — | 124 | ||||||||||||||||||||||||||||||||
% of Save-A-Lot sales | 4.1 | % | — | % | 4.1 | % | 3.7 | % | — | % | 3.7 | % | 3.8 | % | — | % | 3.8 | % | |||||||||||||||||||||||
Retail Food | 25 | (20 | ) | 5 | 32 | (20 | ) | 12 | 56 | (20 | ) | 36 | |||||||||||||||||||||||||||||
% of Retail Food sales | 1.7 | % | (1.4 | )% | 0.3 | % | 1.3 | % | (0.8 | )% | 0.5 | % | 1.6 | % | (0.6 | )% | 1 | % | |||||||||||||||||||||||
Corporate | (50 | ) | 20 | (30 | ) | (50 | ) | 20 | (30 | ) | (62 | ) | 20 | (42 | ) | ||||||||||||||||||||||||||
Total operating earnings | $ | 82 | $ | — | $ | 82 | $ | 194 | $ | — | $ | 194 | $ | 299 | $ | — | $ | 299 | |||||||||||||||||||||||
% of total net sales | 1.6 | % | — | % | 1.6 | % | 2.1 | % | — | % | 2.1 | % | 2.3 | % | — | % | 2.3 | % | |||||||||||||||||||||||
Changes in the Company's Self-Insurance Liabilities | ' | ||||||||||||||||||||||||||||||||||||||||
Changes in the Company’s insurance liabilities consisted of the following: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 97 | $ | 93 | $ | 96 | |||||||||||||||||||||||||||||||||||
Expense | 39 | 31 | 22 | ||||||||||||||||||||||||||||||||||||||
Claim payments | (33 | ) | (27 | ) | (25 | ) | |||||||||||||||||||||||||||||||||||
Ending balance | 103 | 97 | 93 | ||||||||||||||||||||||||||||||||||||||
Less current portion | (33 | ) | (27 | ) | (26 | ) | |||||||||||||||||||||||||||||||||||
Long-term portion | $ | 70 | $ | 70 | $ | 67 | |||||||||||||||||||||||||||||||||||
Schedule of Changes in Accumulated Other Comprehensive Loss | ' | ||||||||||||||||||||||||||||||||||||||||
Changes in Accumulated other comprehensive loss by component follows below: | |||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at beginning of the fiscal year, net of tax | $ | (612) | $ | (657) | $ | (446) | |||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit of $(85), $18 and $161, respectively | 202 | (20 | ) | (262 | ) | ||||||||||||||||||||||||||||||||||||
Amortization of amounts included in net periodic benefit cost, net of tax (expense) of $(38), $(40) and $(32), respectively | 55 | 65 | 51 | ||||||||||||||||||||||||||||||||||||||
Net current-period Other comprehensive income (loss), net of tax (expense) benefit of $(123), $(22) and $129, respectively | 257 | 45 | (211 | ) | |||||||||||||||||||||||||||||||||||||
Divestiture of NAI pension plan accumulated other comprehensive loss, net of tax (expense) of $(31) | 48 | — | — | ||||||||||||||||||||||||||||||||||||||
Pension and postretirement benefit plan accumulated other comprehensive loss at the end of period, net of tax | $ | (307 | ) | $ | (612 | ) | $ | (657 | ) | ||||||||||||||||||||||||||||||||
GOODWILL_AND_INTANGIBLE_ASSETS1
GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Changes in Company's Goodwill and Intangible Assets | ' | ||||||||||||||||||||||||||||||||||||
Changes in the Company’s Goodwill and Intangible assets, net consisted of the following: | |||||||||||||||||||||||||||||||||||||
February 25, | Additions | Impairments | Other net | February 23, | Additions | Impairments | Other net | February 22, | |||||||||||||||||||||||||||||
2012 | adjustments | 2013 | adjustments | 2014 | |||||||||||||||||||||||||||||||||
Goodwill: | |||||||||||||||||||||||||||||||||||||
Independent Business goodwill | $ | 710 | $ | — | $ | — | $ | — | $ | 710 | $ | — | $ | — | $ | — | $ | 710 | |||||||||||||||||||
Save-A-Lot goodwill | 137 | — | — | — | 137 | — | — | — | 137 | ||||||||||||||||||||||||||||
Total goodwill | $ | 847 | $ | — | $ | — | — | $ | 847 | $ | — | $ | — | — | $ | 847 | |||||||||||||||||||||
February 25, | Additions | Impairments | Other net | February 23, | Additions | Impairments | Other net | February 22, | |||||||||||||||||||||||||||||
2012 | adjustments | 2013 | adjustments | 2014 | |||||||||||||||||||||||||||||||||
Intangible assets: | |||||||||||||||||||||||||||||||||||||
Customer lists, customer relationships, favorable operating leases and other (accumulated amortization of $78 and $65 as of February 22, 2014 and February 23, 2013, respectively) | $ | 105 | $ | 1 | $ | — | $ | — | $ | 106 | $ | — | $ | — | $ | 5 | $ | 111 | |||||||||||||||||||
Trademarks and tradenames—indefinite useful lives | 14 | — | (6 | ) | 1 | 9 | — | — | — | 9 | |||||||||||||||||||||||||||
Non-compete agreements (accumulated amortization of $2 and $2 as of February 22, 2014 and February 23, 2013, respectively) | 3 | — | — | — | 3 | — | — | — | 3 | ||||||||||||||||||||||||||||
Total intangible assets | 122 | 1 | (6 | ) | 1 | 118 | — | — | 5 | 123 | |||||||||||||||||||||||||||
Accumulated amortization | (58 | ) | (8 | ) | — | (1 | ) | (67 | ) | (8 | ) | — | (5 | ) | (80 | ) | |||||||||||||||||||||
Total intangible assets, net | $ | 64 | $ | 51 | $ | 43 | |||||||||||||||||||||||||||||||
RESERVES_FOR_CLOSED_PROPERTIES1
RESERVES FOR CLOSED PROPERTIES AND PROPERTY, PLANT AND EQUIPMENT-RELATED IMPAIRMENT CHARGES (Tables) | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Changes in Company's Reserves | ' | ||||||||||||
Changes in the Company’s reserves for closed properties consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 61 | $ | 72 | $ | 96 | |||||||
Additions | 4 | 16 | 9 | ||||||||||
Payments | (16 | ) | (22 | ) | (26 | ) | |||||||
Adjustments | (2 | ) | (5 | ) | (7 | ) | |||||||
Ending balance | $ | 47 | $ | 61 | $ | 72 |
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (Tables) | 12 Months Ended | ||||||||
Feb. 22, 2014 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Components of Property, Plant and Equipment | ' | ||||||||
Property, plant and equipment, net, consisted of the following: | |||||||||
2014 | 2013 | ||||||||
Land | $ | 97 | $ | 100 | |||||
Buildings | 1,224 | 1,294 | |||||||
Property under construction | 34 | 37 | |||||||
Leasehold improvements | 693 | 688 | |||||||
Equipment | 1,959 | 2,733 | |||||||
Capitalized lease assets | 315 | 335 | |||||||
Total property, plant and equipment | 4,322 | 5,187 | |||||||
Accumulated depreciation | (2,618 | ) | (3,277 | ) | |||||
Accumulated amortization on capitalized lease assets | (207 | ) | (210 | ) | |||||
Total property, plant and equipment, net | $ | 1,497 | $ | 1,700 | |||||
LONGTERM_DEBT_Tables
LONG-TERM DEBT (Tables) | 12 Months Ended | ||||||||
Feb. 22, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt and Capital Lease Obligations | ' | ||||||||
The Company’s long-term debt consisted of the following: | |||||||||
February 22, | February 23, | ||||||||
2014 | 2013 | ||||||||
4.50% Secured Term Loan Facility due March 2019 | $ | 1,474 | $ | — | |||||
8.00% Senior Notes due May 2016 | 628 | 1,000 | |||||||
6.75% Senior Notes due June 2021 | 400 | — | |||||||
2.17% to 4.25% Revolving ABL Credit Facility due March 2018 | — | — | |||||||
8.00% Secured Term Loan Facility due August 2018 | — | 834 | |||||||
7.50% Senior Notes due November 2014 | — | 490 | |||||||
2.21% to 4.25% Revolving ABL Credit Facility due August 2017 | — | 207 | |||||||
Accounts Receivable Securitization Facility | — | 40 | |||||||
Other | 18 | 28 | |||||||
Net discount on debt, using effective interest rates of 4.63% to 8.58% | (16 | ) | (40 | ) | |||||
Total debt | 2,504 | 2,559 | |||||||
Less current maturities of long-term debt | (18 | ) | (19 | ) | |||||
Long-term debt | $ | 2,486 | $ | 2,540 | |||||
Future Maturities of Long-Term Debt, Excluding Net Discount on Debt | ' | ||||||||
Future maturities of long-term debt, excluding the net discount on debt, as of February 22, 2014 consist of the following: | |||||||||
Fiscal Year | |||||||||
2015 | $ | 18 | |||||||
2016 | 15 | ||||||||
2017 | 643 | ||||||||
2018 | 15 | ||||||||
2019 | 15 | ||||||||
Thereafter | 1,814 |
LEASES_Tables
LEASES (Tables) | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Noncancellable Operating Leases and Capital Leases | ' | ||||||||||||
Future minimum lease and subtenant rentals under noncancellable leases as of February 22, 2014, consist of the following: | |||||||||||||
Lease Receipts | |||||||||||||
Fiscal Year | Operating | Direct | |||||||||||
Leases | Financing | ||||||||||||
Leases | |||||||||||||
2015 | $ | 3 | $ | 2 | |||||||||
2016 | 2 | 2 | |||||||||||
2017 | 2 | 1 | |||||||||||
2018 | 2 | — | |||||||||||
2019 | 1 | — | |||||||||||
Thereafter | 1 | — | |||||||||||
Total minimum lease receipts | $ | 11 | 5 | ||||||||||
Less unearned income | (1 | ) | |||||||||||
Net investment in direct financing leases | 4 | ||||||||||||
Less current portion | (1 | ) | |||||||||||
Long-term portion | $ | 3 | |||||||||||
Rent Expense and Subtenant Rentals | ' | ||||||||||||
Rent expense and subtenant rentals under operating leases consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Minimum rent | $ | 129 | $ | 127 | $ | 118 | |||||||
Contingent rent | 5 | 6 | 2 | ||||||||||
Rent expense | 134 | 133 | 120 | ||||||||||
Subtenant rentals | (13 | ) | (13 | ) | (15 | ) | |||||||
Total net rent expense | $ | 121 | $ | 120 | $ | 105 | |||||||
Future Minimum Lease and Subtenant Rentals Under Noncancellable Leases | ' | ||||||||||||
Future minimum lease payments to be made by the Company for noncancellable operating leases and capital leases as of February 22, 2014, consist of the following: | |||||||||||||
Lease Obligations | |||||||||||||
Fiscal Year | Operating | Capital | |||||||||||
Leases | Leases | ||||||||||||
2015 | $ | 122 | $ | 51 | |||||||||
2016 | 116 | 48 | |||||||||||
2017 | 99 | 44 | |||||||||||
2018 | 79 | 41 | |||||||||||
2019 | 60 | 39 | |||||||||||
Thereafter | 150 | 169 | |||||||||||
Total future minimum obligations | $ | 626 | 392 | ||||||||||
Less interest | (119 | ) | |||||||||||
Present value of net future minimum obligations | 273 | ||||||||||||
Less current capital lease obligations | (27 | ) | |||||||||||
Long-term capital lease obligations | $ | 246 | |||||||||||
Carrying Value of Owned Property Leased to Third Parties Under Operating Leases | ' | ||||||||||||
The carrying value of owned property leased to third parties under operating leases was as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Property, plant and equipment | $ | 4 | $ | 4 | |||||||||
Less accumulated depreciation | (3 | ) | (3 | ) | |||||||||
Property, plant and equipment, net | $ | 1 | $ | 1 |
INCOME_TAXES_Tables
INCOME TAXES (Tables) | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Provision for Income Taxes | ' | ||||||||||||
The provision for income taxes consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current | |||||||||||||
Federal | $ | 30 | $ | -98 | $ | (92) | |||||||
State | 5 | -9 | -8 | ||||||||||
Total current | 35 | -107 | -100 | ||||||||||
Deferred | (30 | ) | -56 | 59 | |||||||||
Total income tax provision (benefit) | $ | 5 | $ | (163) | $ | -41 | |||||||
Difference Between Actual Tax Provision and Tax Provision Computed by Applying Statutory Federal Income Tax Rate to Losses Before Income Taxes | ' | ||||||||||||
The difference between the actual tax provision (benefit) and the tax provision computed by applying the statutory federal income tax rate to Earnings (loss) from continuing operations before income taxes is attributable to the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal taxes based on statutory rate | $ | 4 | $ | (149 | ) | $ | (53 | ) | |||||
State income taxes, net of federal benefit | — | (13 | ) | (9 | ) | ||||||||
Goodwill and intangible asset impairment | — | — | 32 | ||||||||||
Tax contingency | (1 | ) | 1 | (5 | ) | ||||||||
Change in valuation allowance | (1 | ) | (3 | ) | (5 | ) | |||||||
Other | 3 | 1 | (1 | ) | |||||||||
Total income tax provision (benefit) | $ | 5 | $ | (163 | ) | $ | (41 | ) | |||||
Deferred Tax Assets and Liabilities | ' | ||||||||||||
The Company’s deferred tax assets and liabilities consisted of the following: | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Compensation and benefits | $ | 224 | $ | 367 | |||||||||
Self-insurance | 24 | 20 | |||||||||||
Property, plant and equipment and capitalized lease assets | 132 | 110 | |||||||||||
Loss on sale of discontinued operations | 1,339 | 1,341 | |||||||||||
Net operating loss carryforwards | 23 | 22 | |||||||||||
Other | 80 | 104 | |||||||||||
Gross deferred tax assets | 1,822 | 1,964 | |||||||||||
Valuation allowance | (1,356 | ) | (1,358 | ) | |||||||||
Total deferred tax assets | 466 | 606 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment and capitalized lease assets | (147 | ) | (204 | ) | |||||||||
Inventories | (40 | ) | (28 | ) | |||||||||
Intangible assets | (25 | ) | (21 | ) | |||||||||
Other | (16 | ) | (19 | ) | |||||||||
Total deferred tax liabilities | (228 | ) | (272 | ) | |||||||||
Net deferred tax asset | $ | 238 | $ | 334 | |||||||||
Changes in Company's Unrecognized Tax Benefits | ' | ||||||||||||
Changes in the Company’s unrecognized tax benefits consisted of the following: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 187 | $ | 165 | $ | 182 | |||||||
Increase based on tax positions related to the current year | 15 | 5 | 14 | ||||||||||
Decrease based on tax positions related to the current year | — | (1 | ) | (1 | ) | ||||||||
Increase based on tax positions related to prior years | 9 | 83 | 21 | ||||||||||
Decrease based on tax positions related to prior years | (131 | ) | (62 | ) | (46 | ) | |||||||
Decrease due to lapse of statute of limitations | (4 | ) | (3 | ) | (5 | ) | |||||||
Ending balance | $ | 76 | $ | 187 | $ | 165 |
STOCKBASED_AWARDS_Tables
STOCK-BASED AWARDS (Tables) | 12 Months Ended | ||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||
Stock Options Granted, Exercised and Outstanding | ' | ||||||||||||||||
Stock options granted, exercised and outstanding consisted of the following: | |||||||||||||||||
Shares | Weighted | Weighted Average | Aggregate | ||||||||||||||
Under Option | Average | Remaining | Intrinsic Value | ||||||||||||||
(In thousands) | Exercise Price | Contractual Term | (In thousands) | ||||||||||||||
(In years) | |||||||||||||||||
Outstanding, February 23, 2013 | 22,246 | $ | 19.2 | ||||||||||||||
Granted | 10,083 | 6.58 | |||||||||||||||
Exercised | (3,121 | ) | 2.29 | ||||||||||||||
Canceled and forfeited | (5,873 | ) | 23.7 | ||||||||||||||
Outstanding, February 22, 2014 | 23,335 | $ | 14.87 | 5.41 | $ | 15,982 | |||||||||||
Vested and expected to vest in the future as of February 22, 2014 | 21,646 | $ | 15.56 | 5.12 | $ | 15,101 | |||||||||||
Exercisable as of February 22, 2014 | 12,050 | $ | 23.38 | 2.05 | $ | 7,340 | |||||||||||
Restricted Stock Awards Activities | ' | ||||||||||||||||
Restricted stock award activity consisted of the following: | |||||||||||||||||
Restricted | Weighted Average | ||||||||||||||||
Stock | Grant-Date | ||||||||||||||||
(In thousands) | Fair Value | ||||||||||||||||
Outstanding, February 23, 2013 | 1,443 | $ | 7.83 | ||||||||||||||
Granted | 491 | 6.98 | |||||||||||||||
Lapsed | (967 | ) | 6.23 | ||||||||||||||
Canceled and forfeited | (30 | ) | 6.08 | ||||||||||||||
Outstanding, February 22, 2014 | 937 | $ | 9.09 | ||||||||||||||
Components of Pre-Tax Stock-Based Compensation Expense and Related Tax Benefits | ' | ||||||||||||||||
The components of pre-tax stock-based compensation expense are included primarily in Selling and administrative expenses in the Consolidated Statements of Operations, the expense recognized and related tax benefits were as follows: | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation | $ | 22 | $ | 13 | $ | 13 | |||||||||||
Income tax benefits | (8 | ) | (5 | ) | (5 | ) | |||||||||||
Stock-based compensation (net of tax) | $ | 14 | $ | 8 | $ | 8 | |||||||||||
2014 LTIP [Member] | ' | ||||||||||||||||
Assumptions Related to Valuation of Company's LTIP/Stock Options | ' | ||||||||||||||||
The Company used the Black Scholes option pricing model to estimate the fair value of the options at grant date based upon the following assumptions: | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Dividend yield | — | % | 1.0 – 2.1 | % | |||||||||||||
Volatility rate | 49.3 – 51.3 | % | 42.3 – 61.2 | % | |||||||||||||
Risk-free interest rate | 0.6 – 1.0 | % | 0.4 – 0.6 | % | |||||||||||||
Expected option life | 4.0 – 6.0 years | 4.5 – 6.0 years | |||||||||||||||
2013 LTIP [Member] | ' | ||||||||||||||||
Assumptions Related to Valuation of Company's LTIP/Stock Options | ' | ||||||||||||||||
The assumptions related to the valuation of the Company’s 2013 LTIP consisted of the following: | |||||||||||||||||
2013 | |||||||||||||||||
Dividend yield | 4.1 | % | |||||||||||||||
Volatility rate | 45.8 | % | |||||||||||||||
Risk-free interest rate | 0.4 | % | |||||||||||||||
Expected life | 3.0 years |
NET_EARNINGS_LOSS_PER_SHARE_Ta
NET EARNINGS (LOSS) PER SHARE (Tables) | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Calculation of Basic and Diluted Net Earnings (Loss) Per Share | ' | ||||||||||||
The following table reflects the calculation of basic and diluted net earnings (loss) per share: | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Net earnings (loss) per share—basic: | |||||||||||||
Net earnings (loss) from continuing operations available to common stockholders | $ | 6 | $ | (263 | ) | $ | (110 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) from continuing operations per share—basic | $ | 0.02 | $ | (1.24 | ) | $ | (0.52 | ) | |||||
Income (loss) from discontinued operations, net of tax, available to common stockholders | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) from discontinued operations per share—basic | $ | 0.69 | $ | (5.67 | ) | $ | (4.39 | ) | |||||
Net earnings (loss) available to common stockholders | $ | 182 | $ | (1,466 | ) | $ | (1,040 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Net earnings (loss) per share—basic | $ | 0.71 | $ | (6.91 | ) | $ | (4.91 | ) | |||||
Net earnings (loss) per share—diluted: | |||||||||||||
Net earnings (loss) from continuing operations available to common stockholders | $ | 6 | $ | (263 | ) | $ | (110 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) from continuing operations per share—diluted | $ | 0.02 | $ | (1.24 | ) | $ | (0.52 | ) | |||||
Income (loss) from discontinued operations, net of tax, available to common stockholders | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) from discontinued operations per share—diluted | $ | 0.68 | $ | (5.67 | ) | $ | (4.39 | ) | |||||
Net earnings (loss) available to common stockholders | $ | 182 | $ | (1,466 | ) | $ | (1,040 | ) | |||||
Weighted average shares outstanding—basic | 255 | 212 | 212 | ||||||||||
Dilutive impact of stock-based awards | 3 | — | — | ||||||||||
Weighted average shares outstanding—diluted | 258 | 212 | 212 | ||||||||||
Net earnings (loss) per share—diluted | $ | 0.7 | $ | (6.91 | ) | $ | (4.91 | ) |
BENEFIT_PLANS_Tables
BENEFIT PLANS (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Benefit Obligation, Fair Value of Plan Assets and Funded Status of Defined Benefit Pension Plans and Other Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||||
The benefit obligation, fair value of plan assets and funded status of the defined benefit pension plans and other postretirement benefit plans consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Change in Benefit Obligation | |||||||||||||||||||||||||||||
Benefit obligation at beginning of year | $ | 2,893 | $ | 2,745 | $ | 109 | $ | 116 | |||||||||||||||||||||
Plan Amendment | — | — | (11 | ) | — | ||||||||||||||||||||||||
Service cost | — | — | 2 | 2 | |||||||||||||||||||||||||
Interest cost | 121 | 123 | 4 | 5 | |||||||||||||||||||||||||
Actuarial loss (gain) | (141 | ) | 119 | (12 | ) | (9 | ) | ||||||||||||||||||||||
Benefits paid | (147 | ) | (94 | ) | (6 | ) | (5 | ) | |||||||||||||||||||||
Other | — | — | (5 | ) | — | ||||||||||||||||||||||||
Benefit obligation at end of year | 2,726 | 2,893 | 81 | 109 | |||||||||||||||||||||||||
Changes in Plan Assets | |||||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 2,031 | 1,827 | — | — | |||||||||||||||||||||||||
Actual return on plan assets | 259 | 205 | — | — | |||||||||||||||||||||||||
Employer contributions | 118 | 93 | 6 | 5 | |||||||||||||||||||||||||
Plan participants’ contributions | — | — | 3 | 4 | |||||||||||||||||||||||||
Benefits paid | (147 | ) | (94 | ) | (9 | ) | (9 | ) | |||||||||||||||||||||
Fair value of plan assets at end of year | 2,261 | 2,031 | — | — | |||||||||||||||||||||||||
Funded status at end of year | $ | (465 | ) | $ | (862 | ) | $ | (81 | ) | $ | (109 | ) | |||||||||||||||||
Amounts Recognized in Consolidated Balance Sheets | ' | ||||||||||||||||||||||||||||
Amounts recognized in the Consolidated Balance Sheets consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Accrued vacation, compensation and benefits | $ | (3 | ) | $ | (2 | ) | $ | (6 | ) | $ | (7 | ) | |||||||||||||||||
Pension and other postretirement benefit obligations | (462 | ) | (860 | ) | (75 | ) | (102 | ) | |||||||||||||||||||||
$ | (465 | ) | $ | (862 | ) | $ | (81 | ) | $ | (109 | ) | ||||||||||||||||||
Amounts Recognized in Accumulated Other Comprehensive Losses for Defined Benefit Pension Plans and Other Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||||
Amounts recognized in Accumulated other comprehensive loss for the defined benefit pension and other postretirement benefit plans consists of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
Prior service benefit | $ | — | $ | — | $ | 55 | $ | 57 | |||||||||||||||||||||
Net actuarial loss | (567 | ) | (928 | ) | (25 | ) | (46 | ) | |||||||||||||||||||||
Total recognized in Accumulated other comprehensive loss | $ | (567 | ) | $ | (928 | ) | $ | 30 | $ | 11 | |||||||||||||||||||
Total recognized in Accumulated other comprehensive loss, net of tax | $ | (324 | ) | $ | (570 | ) | $ | 17 | $ | 7 | |||||||||||||||||||
Net Periodic Benefit Cost (Income) and Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) for Defined Benefit Pension and Other Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||||
Net periodic benefit cost (income) and other changes in plan assets and benefit obligations recognized in Other comprehensive income (loss) for defined benefit pension and other postretirement benefit plans consisted of the following: | |||||||||||||||||||||||||||||
Pension Benefits | Other Postretirement | ||||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | ||||||||||||||||||||||||
Net Periodic Benefit Cost | |||||||||||||||||||||||||||||
Service cost | $ | — | $ | — | $ | — | $ | 2 | $ | 2 | $ | 2 | |||||||||||||||||
Interest cost | 121 | 123 | 126 | 4 | 5 | 7 | |||||||||||||||||||||||
Expected return on plan assets | (141 | ) | (133 | ) | (114 | ) | — | — | — | ||||||||||||||||||||
Amortization of prior service benefit | — | — | — | (13 | ) | (12 | ) | (9 | ) | ||||||||||||||||||||
Amortization of net actuarial loss | 101 | 111 | 88 | 5 | 6 | 4 | |||||||||||||||||||||||
Settlement | — | — | 2 | — | — | — | |||||||||||||||||||||||
Net periodic benefit cost (income) | 81 | 101 | 102 | (2 | ) | 1 | 4 | ||||||||||||||||||||||
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||
Prior service benefit | — | — | — | (11 | ) | — | (52 | ) | |||||||||||||||||||||
Amortization of prior service benefit | — | — | — | 12 | 13 | 9 | |||||||||||||||||||||||
Net actuarial (gain) loss | (259 | ) | 46 | 417 | (16 | ) | (7 | ) | 16 | ||||||||||||||||||||
Amortization of net actuarial loss | (101 | ) | (110 | ) | (88 | ) | (5 | ) | (6 | ) | (4 | ) | |||||||||||||||||
Total recognized in Other comprehensive (income) loss | (360 | ) | (64 | ) | 329 | (20 | ) | — | (31 | ) | |||||||||||||||||||
Total recognized in net periodic benefit cost (income) and Other comprehensive (income) loss | $ | (279 | ) | $ | 37 | $ | 431 | $ | (22 | ) | $ | 1 | $ | (27 | ) | ||||||||||||||
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost | ' | ||||||||||||||||||||||||||||
Weighted average assumptions used to determine benefit obligations and net periodic benefit cost consisted of the following: | |||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||
Benefit obligation assumptions: | |||||||||||||||||||||||||||||
Discount rate (1) | 4.65 | % | 4.25 | % | 4.55 | % | |||||||||||||||||||||||
Rate of compensation increase | — | % | 2 | % | 2 | % | |||||||||||||||||||||||
Net periodic benefit cost assumptions: (2) | |||||||||||||||||||||||||||||
Discount rate (1) | 4.25 | % | 4.55 | % | 5.6 | % | |||||||||||||||||||||||
Rate of compensation increase | 2 | % | 2 | % | 2 | % | |||||||||||||||||||||||
Expected return on plan assets (3) | 7 | % | 7.25 | % | 7.5 | % | |||||||||||||||||||||||
-1 | The Company reviews and selects the discount rate to be used in connection with its pension and other postretirement obligations annually. In determining the discount rate, the Company uses the yield on corporate bonds (rated AA or better) that coincides with the cash flows of the plans’ estimated benefit payouts. The model uses a yield curve approach to discount each cash flow of the liability stream at an interest rate specifically applicable to the timing of each respective cash flow. The model totals the present values of all cash flows and calculates the equivalent weighted average discount rate by imputing the singular interest rate that equates the total present value with the stream of future cash flows. This resulting weighted average discount rate is then used in evaluating the final discount rate to be used by the Company. | ||||||||||||||||||||||||||||
-2 | Net periodic benefit cost is measured using weighted average assumptions as of the beginning of each year. | ||||||||||||||||||||||||||||
-3 | Expected long-term return on plan assets is estimated by utilizing forward-looking, long-term return, risk and correlation assumptions developed and updated annually by the Company. These assumptions are weighted by the actual or target allocation to each underlying asset class represented in the pension plan asset portfolio. The Company also assesses the expected long-term return on plan assets assumption by comparison to long-term historical performance on an asset class to ensure the assumption is reasonable. Long-term trends are also evaluated relative to market factors such as inflation, interest rates, and fiscal and monetary policies in order to assess the capital market assumptions. | ||||||||||||||||||||||||||||
Asset Allocation Targets and Actual Allocation of Pension Plan Assets | ' | ||||||||||||||||||||||||||||
The asset allocation targets and the actual allocation of pension plan assets are as follows: | |||||||||||||||||||||||||||||
Asset Category | Target | 2014 | 2013 | ||||||||||||||||||||||||||
Domestic equity | 29.6 | % | 30.2 | % | 32.9 | % | |||||||||||||||||||||||
International equity | 13.7 | % | 14.1 | % | 15.3 | % | |||||||||||||||||||||||
Private equity | 5.6 | % | 5.5 | % | 5.4 | % | |||||||||||||||||||||||
Fixed income | 42.3 | % | 41.3 | % | 37.3 | % | |||||||||||||||||||||||
Real estate | 8.8 | % | 8.9 | % | 9.1 | % | |||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||||||||||||||
Fair Value of Assets of Company's Benefit Plans Held in Master Trust | ' | ||||||||||||||||||||||||||||
The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 22, 2014, by asset category, consisted of the following: | |||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Common stock | $ | 579 | $ | — | $ | — | $ | 579 | |||||||||||||||||||||
Common collective trusts—fixed income | — | 253 | — | 253 | |||||||||||||||||||||||||
Common collective trusts—equity | — | 344 | — | 344 | |||||||||||||||||||||||||
Government securities | 92 | 89 | — | 181 | |||||||||||||||||||||||||
Mutual funds | 52 | 243 | — | 295 | |||||||||||||||||||||||||
Corporate bonds | — | 290 | — | 290 | |||||||||||||||||||||||||
Real estate partnerships | — | — | 149 | 149 | |||||||||||||||||||||||||
Private equity | — | — | 125 | 125 | |||||||||||||||||||||||||
Mortgage-backed securities | — | 37 | — | 37 | |||||||||||||||||||||||||
Other | — | 8 | — | 8 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 723 | $ | 1,264 | $ | 274 | $ | 2,261 | |||||||||||||||||||||
The fair value of assets of the Company’s defined benefit pension plans held in a master trust as of February 23, 2013, by asset category, consisted of the following: | |||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||||
Common stock | $ | 554 | $ | — | $ | — | $ | 554 | |||||||||||||||||||||
Common collective trusts—fixed income | — | 247 | — | 247 | |||||||||||||||||||||||||
Common collective trusts—equity | — | 335 | — | 335 | |||||||||||||||||||||||||
Government securities | 60 | 92 | — | 152 | |||||||||||||||||||||||||
Mutual funds | 51 | 221 | — | 272 | |||||||||||||||||||||||||
Corporate bonds | — | 183 | — | 183 | |||||||||||||||||||||||||
Real estate partnerships | — | — | 136 | 136 | |||||||||||||||||||||||||
Private equity | — | — | 110 | 110 | |||||||||||||||||||||||||
Mortgage-backed securities | — | 35 | — | 35 | |||||||||||||||||||||||||
Other | 3 | 4 | — | 7 | |||||||||||||||||||||||||
Total plan assets at fair value | $ | 668 | $ | 1,117 | $ | 246 | $ | 2,031 | |||||||||||||||||||||
Summary of Changes in Fair Value for Level 3 Investments | ' | ||||||||||||||||||||||||||||
The following is a summary of changes in the fair value for Level 3 investments for 2014 and 2013: | |||||||||||||||||||||||||||||
Real Estate | Private Equity | ||||||||||||||||||||||||||||
Partnerships | |||||||||||||||||||||||||||||
Ending balance, February 25, 2012 | $ | 113 | $ | 88 | |||||||||||||||||||||||||
Purchases | 15 | 20 | |||||||||||||||||||||||||||
Sales | — | (7 | ) | ||||||||||||||||||||||||||
Unrealized gains | 8 | 9 | |||||||||||||||||||||||||||
Ending balance, February 23, 2013 | 136 | 110 | |||||||||||||||||||||||||||
Purchases | 22 | 34 | |||||||||||||||||||||||||||
Sales | (26 | ) | (24 | ) | |||||||||||||||||||||||||
Unrealized gains | 10 | 5 | |||||||||||||||||||||||||||
Realized gains and losses | 7 | — | |||||||||||||||||||||||||||
Ending balance, February 22, 2014 | $ | 149 | $ | 125 | |||||||||||||||||||||||||
Estimated Future Benefit Payments to be Paid from Company's Defined Benefit Pension Plans and Other Postretirement Benefit Plans | ' | ||||||||||||||||||||||||||||
The estimated future benefit payments to be paid from the Company’s defined benefit pension plans and other postretirement benefit plans, which reflect expected future service, are as follows: | |||||||||||||||||||||||||||||
Fiscal Year | Pension Benefits | Other Postretirement | |||||||||||||||||||||||||||
Benefits | |||||||||||||||||||||||||||||
2015 | $ | 115 | $ | 6 | |||||||||||||||||||||||||
2016 | 122 | 7 | |||||||||||||||||||||||||||
2017 | 128 | 6 | |||||||||||||||||||||||||||
2018 | 137 | 6 | |||||||||||||||||||||||||||
2019 | 147 | 6 | |||||||||||||||||||||||||||
Years 2020-2024 | 851 | 31 | |||||||||||||||||||||||||||
Schedule of Pension Funds Contributions | ' | ||||||||||||||||||||||||||||
The following table contains information about the Company’s multiemployer plans: | |||||||||||||||||||||||||||||
EIN—Pension | Plan | Pension | FIP/RP | Contributions | Surcharges | Amortization | |||||||||||||||||||||||
Plan Number | Month/Day | Protection Act | Status | Imposed (1) | Provisions | ||||||||||||||||||||||||
End Date | Zone Status | Pending/ | |||||||||||||||||||||||||||
Pension Fund | 2014 | 2013 | Implemented | 2014 | 2013 | 2012 | |||||||||||||||||||||||
Minneapolis Food Distributing Industry Pension Plan | 416047047-001 | 31-Dec | Green | Green | Implemented | $ | 9 | $ | 9 | $ | 9 | No | Yes | ||||||||||||||||
Central States, Southeast and Southwest Areas Pension Fund | 366044243-001 | 31-Dec | Red | Red | Implemented | 8 | 9 | 9 | No | Yes | |||||||||||||||||||
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 410905139-001 | 28-Feb | Yellow | Yellow | Implemented | 8 | 8 | 7 | No | No | |||||||||||||||||||
UFCW Unions and Participating Employers Pension Plan | 526117495-002 | 31-Dec | Red | Red | Implemented | 4 | 3 | 4 | Yes | Yes | |||||||||||||||||||
Western Conference of Teamsters Pension Plan | 916145047-001 | 31-Dec | Green | Green | No | 3 | 2 | 3 | No | Yes | |||||||||||||||||||
UFCW Union Local 655 Food Employers Joint Pension Plan | 436058365-001 | 31-Dec | Green | Red | Implemented | 2 | 2 | 2 | Yes | Yes | |||||||||||||||||||
UFCW Unions and Employers Pension Plan | 396069053-001 | 31-Oct | Red | Red | Implemented | 2 | 2 | 2 | Yes | Yes | |||||||||||||||||||
All Other Multiemployer Pension Plans (2) | 3 | 3 | 2 | ||||||||||||||||||||||||||
Total | $ | 39 | $ | 38 | $ | 38 | |||||||||||||||||||||||
-1 | PPA surcharges are 5 percent or 10 percent of eligible contributions and may not apply to all collective bargaining agreements or total contributions to each plan. | ||||||||||||||||||||||||||||
-2 | All Other Multiemployer Pension Plans includes 11 plans, none of which are individually significant when considering employer’s contributions to the plan, severity of the underfunded status or other factors. The following table describes the expiration of the Company’s collective bargaining agreements associated with the significant multiemployer plans in which the Company participates: | ||||||||||||||||||||||||||||
Schedule of Collective Bargaining Agreements Dates and Contributions to Each Plan | ' | ||||||||||||||||||||||||||||
The following table describes the expiration of the Company’s collective bargaining agreements associated with the significant multiemployer plans in which the Company participates: | |||||||||||||||||||||||||||||
Most Significant Collective | |||||||||||||||||||||||||||||
Bargaining Agreement | |||||||||||||||||||||||||||||
Pension Fund | Range of | Total | Expiration | % of Associates under | Over 5% | ||||||||||||||||||||||||
Collective | Collective | Date | Collective Bargaining | Contribution | |||||||||||||||||||||||||
Bargaining | Bargaining | Agreement (1) | 2014 | ||||||||||||||||||||||||||
Agreement | Agreements | ||||||||||||||||||||||||||||
Expiration Dates | |||||||||||||||||||||||||||||
Minneapolis Food Distributing Industry Pension Plan | 06/01/2013 – 05/31/2015 | 1 | 5/31/15 | 100 | % | Yes | |||||||||||||||||||||||
Central States, Southeast and Southwest Areas Pension Fund | 06/13/2009 – 07/16/2016 | 10 | 5/31/16 | 28.3 | % | No | |||||||||||||||||||||||
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund | 03/02/2013 – 03/01/2014 | 2 | 3/1/14 | 96.5 | % | Yes | |||||||||||||||||||||||
UFCW Unions and Participating Employers Pension Plan | 07/08/2012 – 07/12/2014 | 2 | 7/12/14 | 68.2 | % | Yes | |||||||||||||||||||||||
Western Conference of Teamsters Pension Plan | 04/17/2011 – 09/22/2016 | 8 | 7/12/14 | 42 | % | No | |||||||||||||||||||||||
UFCW Union Local 655 Food Employers Joint Pension Plan | 05/17/2010 – 03/30/2014 | 1 | 3/30/14 | 100 | % | Yes | |||||||||||||||||||||||
UFCW Unions and Employers Pension Plan | 04/07/2013 – 04/05/2014 | 1 | 4/5/14 | 100 | % | Yes | |||||||||||||||||||||||
-1 | Company participating employees in the most significant collective bargaining agreement as a percent of all Company employees participating in the respective fund. |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Net Sales of Retail Food and Independent Segment in Terms of Amounts and Percentage | ' | ||||||||||||||||||||||||
The amounts and percentages of Net sales for each group of similar products sold in the Independent Business, Save-A-Lot and Retail Food segments and Corporate revenue consisted of the following: | |||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||
Independent Business: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 6,000 | 35 | % | $ | 6,140 | 36 | % | $ | 6,222 | 36 | % | |||||||||||||
Perishable grocery products (2) | 1,951 | 11 | 1,935 | 11 | 1,880 | 11 | |||||||||||||||||||
Services to independent retail customers and other | 85 | 1 | 91 | 1 | 92 | — | |||||||||||||||||||
8,036 | 47 | % | 8,166 | 48 | % | 8,194 | 47 | % | |||||||||||||||||
Save-A-Lot: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 2,829 | 17 | % | $ | 2,865 | 17 | % | $ | 2,925 | 17 | % | |||||||||||||
Perishable grocery products (2) | 1,399 | 8 | 1,330 | 8 | 1,296 | 7 | |||||||||||||||||||
4,228 | 25 | % | 4,195 | 25 | % | 4,221 | 24 | % | |||||||||||||||||
Retail Food: | |||||||||||||||||||||||||
Nonperishable grocery products (1) | $ | 2,600 | 15 | % | $ | 2,689 | 16 | % | $ | 2,820 | 17 | % | |||||||||||||
Perishable grocery products (2) | 1,463 | 9 | 1,428 | 8 | 1,461 | 8 | |||||||||||||||||||
Pharmacy products | 491 | 3 | 512 | 3 | 483 | 3 | |||||||||||||||||||
Fuel | 67 | — | 77 | — | 126 | 1 | |||||||||||||||||||
Other | 30 | — | 30 | — | 31 | — | |||||||||||||||||||
4,651 | 27 | % | 4,736 | 27 | % | 4,921 | 29 | % | |||||||||||||||||
Corporate: | |||||||||||||||||||||||||
Transition service revenue | $ | 240 | 1 | % | $ | 42 | — | % | $ | 47 | — | % | |||||||||||||
Net sales | $ | 17,155 | 100 | % | $ | 17,139 | 100 | % | $ | 17,383 | 100 | % | |||||||||||||
-1 | Includes such items as dry goods, general merchandise, health and beauty care, beverages, dairy, frozen foods, and candy | ||||||||||||||||||||||||
-2 | Includes such items as meat, produce, deli and bakery |
DISCONTINUED_OPERATIONS_AND_DI1
DISCONTINUED OPERATIONS AND DIVESTITURES (Tables) | 12 Months Ended | ||||||||||||
Feb. 22, 2014 | |||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||
Summary of Company's Operating Results and Certain Other Directly Attributable Expenses | ' | ||||||||||||
The following is a summary of the Company’s operating results and certain other directly attributable expenses that are included in discontinued operations: | |||||||||||||
February 22, 2014 | February 23, 2013 | February 25, 2012 | |||||||||||
(52 weeks) | (52 weeks) | (52 weeks) | |||||||||||
Net sales | $ | 1,235 | $ | 17,230 | $ | 18,764 | |||||||
Income (loss) before income taxes from discontinued operations | 121 | (1,238 | ) | (876 | ) | ||||||||
Income tax (benefit) provision | (55 | ) | (35 | ) | 54 | ||||||||
Income (loss) from discontinued operations, net of tax | $ | 176 | $ | (1,203 | ) | $ | (930 | ) | |||||
Summary of Assets and Liabilities of Discontinued Operations | ' | ||||||||||||
The following is a summary of the assets and liabilities of discontinued operations as of February 23, 2013: | |||||||||||||
February 23, | |||||||||||||
2013 | |||||||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 77 | |||||||||||
Receivables, net | 215 | ||||||||||||
Inventories, net | 1,155 | ||||||||||||
Other current assets | 47 | ||||||||||||
Total current assets | 1,494 | ||||||||||||
Property, plant and equipment, net | 3,767 | ||||||||||||
Intangible assets, net | 555 | ||||||||||||
Other assets | 655 | ||||||||||||
Total assets | $ | 6,471 | |||||||||||
Liabilities | |||||||||||||
Accounts payable | $ | 652 | |||||||||||
Accrued vacation, compensation and benefits | 217 | ||||||||||||
Current maturities of long-term debt and capital lease obligations | 212 | ||||||||||||
Accrued loss on contract | 1,140 | ||||||||||||
Other current liabilities | 480 | ||||||||||||
Total current liabilities of discontinued operations | 2,701 | ||||||||||||
Long-term debt and capital lease obligations | 2,832 | ||||||||||||
Pension and other postretirement benefit obligations | 109 | ||||||||||||
Other long-term liabilities | 850 | ||||||||||||
Total liabilities | 6,492 | ||||||||||||
Net liabilities of discontinued operations | $ | (21 | ) | ||||||||||
UNAUDITED_QUARTERLY_FINANCIAL_1
UNAUDITED QUARTERLY FINANCIAL INFORMATION (Tables) | 12 Months Ended | ||||||||||||||||||||
Feb. 22, 2014 | |||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Financial information | ' | ||||||||||||||||||||
Unaudited quarterly financial information for SUPERVALU INC. and subsidiaries is as follows: | |||||||||||||||||||||
2014 | |||||||||||||||||||||
First | Second | Third | Fourth | Fiscal Year | |||||||||||||||||
(16 weeks) | (12 weeks) | (12 weeks) | (12 weeks) | (52 weeks) | |||||||||||||||||
Net sales (1) | $ | 5,242 | $ | 3,948 | $ | 4,012 | $ | 3,953 | $ | 17,155 | |||||||||||
Gross profit | $ | 796 | $ | 577 | $ | 569 | $ | 590 | $ | 2,532 | |||||||||||
Net (loss) earnings from continuing operations (2) | $ | (105 | ) | $ | 39 | $ | 32 | $ | 40 | $ | 6 | ||||||||||
Net earnings | $ | 85 | $ | 40 | $ | 31 | $ | 26 | $ | 182 | |||||||||||
Net (loss) earnings per share from continuing operations—diluted (3) | $ | (0.43 | ) | $ | 0.15 | $ | 0.12 | $ | 0.15 | $ | 0.02 | ||||||||||
Net earnings per share—diluted | $ | 0.34 | $ | 0.15 | $ | 0.12 | $ | 0.1 | $ | 0.7 | |||||||||||
Dividends declared per share | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||
Weighted average shares—diluted | 250 | 261 | 262 | 261 | 258 | ||||||||||||||||
2013 | |||||||||||||||||||||
First | Second | Third | Fourth | Fiscal Year | |||||||||||||||||
(16 weeks) | (12 weeks) | (12 weeks) | (12 weeks) | (52 weeks) | |||||||||||||||||
Net sales (1) | $ | 5,250 | $ | 3,939 | $ | 4,051 | $ | 3,899 | $ | 17,139 | |||||||||||
Gross profit | $ | 720 | $ | 529 | $ | 530 | $ | 557 | $ | 2,336 | |||||||||||
Net loss from continuing operations (5) | $ | (18 | ) | $ | (56 | ) | $ | (15 | ) | $ | (174 | ) | $ | (263 | ) | ||||||
Net earnings (loss) | $ | 41 | $ | (111 | ) | $ | 16 | $ | (1,412 | ) | $ | (1,466 | ) | ||||||||
Net loss per share from continuing operations—diluted (3) | $ | (0.08 | ) | $ | (0.26 | ) | $ | (0.07 | ) | $ | (0.82 | ) | $ | (1.24 | ) | ||||||
Net earnings (loss) per share—diluted (4) | $ | 0.19 | $ | (0.52 | ) | $ | 0.08 | $ | (6.65 | ) | $ | (6.91 | ) | ||||||||
Dividends declared per share | $ | 0.0875 | $ | — | $ | — | $ | — | $ | 0.0875 | |||||||||||
Weighted average shares—diluted | 214 | 212 | 214 | 212 | 212 | ||||||||||||||||
-1 | During the second quarter of fiscal 2014, the Company revised its presentation of fees earned under its transition services agreements. The Company historically presented fees earned under its transition services agreements as a reduction of Selling and administrative expenses. The presentation of such fees earned has been revised and they are now reflected as revenue, within Net sales of Corporate, for all periods. The revision had the effect of increasing both Net sales and Gross profit, with a corresponding increase in Selling and administrative expenses. These revisions did not impact Operating earnings (loss), Loss from continuing operations before income taxes, Net earnings (loss), cash flows, or financial position for any period reported. | ||||||||||||||||||||
-2 | Results from continuing operations for the fiscal year ended February 22, 2014 include net costs and charges of $235 before tax ($144 after tax, or $0.56 per diluted share), comprised of charges for the write-off of non-cash unamortized financing costs and original issue discount acceleration of $99 before tax ($60 after tax, or $0.24 per diluted share) and debt refinancing costs of $75 before tax ($47 after tax, or $0.18 per diluted share) recorded in Interest expense, net, severance costs and accelerated stock-based compensation charges of $46 before tax ($29 after tax, or $0.11 per diluted share), non-cash asset impairment and other charges of $16 before tax ($11 after tax, or $0.04 per diluted share), contract breakage and other costs of $6 before tax ($2 after tax, or $0.01 per diluted share) and a legal settlement charge of $5 before tax ($3 after tax, or $0.01 per diluted share) recorded in Selling and administrative expenses, and a multi-employer pension withdrawal charge of $3 before tax ($2 after tax, or $0.01 per diluted share) recorded in Gross profit, offset in part by a gain on sale of property of $15 before tax ($10 after tax, or $0.04 per diluted share) recorded in Selling and administrative expenses. | ||||||||||||||||||||
-3 | As a result of the net loss for the first quarter during fiscal 2014 and four quarters of fiscal 2013, all potentially dilutive shares were antidilutive and therefore excluded from the calculation of Net loss per share from continuing operations—diluted for these periods. | ||||||||||||||||||||
-4 | As a result of the net loss for the second and fourth quarters during fiscal 2013, all potentially dilutive shares were antidilutive and therefore excluded from the calculation of Net loss per share—diluted for these periods. | ||||||||||||||||||||
-5 | Results from continuing operations for the fiscal year ended February 23, 2013 included net charges and costs of $303 before tax ($187 after tax, or $0.88 per diluted share), comprised of non-cash asset impairment and other charges of $227 before tax ($140 after tax, or $0.66 per diluted share) and multi-employer pension withdrawal liability and severance costs of $36 before tax ($23 after tax, or $0.10 per diluted share) recorded in Selling and administrative expenses, a non-cash charge for the write-off unamortized financing costs of $22 before tax ($14 after tax, or $0.07 per diluted share) recorded in Interest expense, net, and store closure impairment charges of $22 before tax ($13 after tax, or $0.06 per diluted share) and intangible asset impairment charges of $6 before tax ($3 after tax, or $0.02 per diluted share), offset in part by a cash settlement received from credit card companies of $10 before tax ($6 after tax or, $0.03 per diluted share) recorded in Selling and administrative expenses. |
Recovered_Sheet1
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 22, 2014 |
Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Symphony Investors [Member] | NAI Banners [Member] | NAI Banners [Member] | Asset under Construction [Member] | Asset under Construction [Member] | Asset under Construction [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Retail Food and Save-A-Lot [Member] | Retail Food and Save-A-Lot [Member] | Retail Food and Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||
Markets | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Store | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Markets | Store | Revision [Member] | Revision [Member] | Revision [Member] | Building Improvements [Member] | Equipment [Member] | Building Improvements [Member] | Equipment [Member] | |||||||||||||||||||||||||||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of weeks in first quarter | '16 weeks | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of weeks in second, third and fourth quarter | '12 weeks | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Historical fees recognized under the existing TSA as a reduction of selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | $42 | $47 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating earnings (loss) | 418 | -157 | 96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 72 | -160 | -36 | -20 | -20 | -20 | 20 | -56 | -339 | -352 | 20 | 20 | 20 | 20 | ' | ' | ' | 167 | 143 | 230 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retail food advertising expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63 | 86 | 69 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net book overdrafts | 134 | 131 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for losses on receivables | 9 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bad debt expense | 16 | 11 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of inventory valued under LIFO | 57.00% | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of LIFO inventory valued under replacement cost method | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of LIFO inventory valued under retail inventory method and weighted average | 52.00% | 55.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of FIFO inventory valued under cost, weighted average cost and retail inventory method | 25.00% | 23.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of FIFO inventory valued under replacement cost method | 18.00% | 17.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales decreased due to certain LIFO layers were reduced | 14 | 6 | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value increase in inventory by changing the method from LIFO to FIFO | 202 | 211 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining lease term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | ' | '15 years | ' | ' | ' | ' |
Estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '3 years | ' | ' | ' | '40 years | '10 years |
Interest capitalized during period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 4 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of geographic market | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of individual corporate stores | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of long-lived assets related to store closures | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of non-strategic stores closed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discount rate | 4.65% | 4.25% | 4.55% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.30% | 0.40% | 0.40% | ' | ' | 5.10% | 5.10% | 5.10% | ' | ' |
Discount on self-insurance reserve | 7 | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss | 48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage on issued and outstanding common stock | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock Purchase price | ' | ' | ' | ' | ' | ' | ' | ' | $4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Validly tendered shares | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage on issued and outstanding common stock | ' | ' | ' | ' | ' | ' | ' | ' | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tender offer expiration date | ' | ' | ' | ' | ' | ' | ' | ' | 20-Mar-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | 42 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding shares | ' | ' | ' | ' | ' | ' | ' | ' | 19.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tender offer price per share | ' | ' | ' | ' | ' | ' | ' | ' | $4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash proceeds from the issuance of shares | $177 | ' | ' | ' | ' | ' | ' | ' | $170 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage after share issuance | ' | ' | ' | ' | ' | ' | ' | ' | 21.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet2
Summary of Significant Accounting Policies - Effect of Revision of Fees Received Under Transitional Services Agreements (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Nov. 30, 2013 | Sep. 07, 2013 | Feb. 23, 2013 | Dec. 01, 2012 | Sep. 08, 2012 | Jun. 15, 2013 | Jun. 16, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 |
As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | ||||||||||||
Accounting Policies And General Information (Textual) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $3,953 | $4,012 | $3,948 | $3,899 | $4,051 | $3,939 | $5,242 | $5,250 | $17,155 | $17,139 | $17,383 | ' | ' | ' | $17,097 | $17,336 | ' | ' | ' | $42 | $47 | ' | ' | ' | $17,139 | $17,383 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 14,623 | 14,803 | 14,926 | ' | ' | ' | 14,803 | 14,926 | ' | ' | ' | ' | ' | ' | ' | ' | 14,803 | 14,926 |
Gross profit | 590 | 569 | 577 | 557 | 530 | 529 | 796 | 720 | 2,532 | 2,336 | 2,457 | ' | ' | ' | 2,294 | 2,410 | ' | ' | ' | 42 | 47 | ' | ' | ' | 2,336 | 2,457 |
Selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,114 | 2,487 | 2,269 | ' | ' | ' | 2,445 | 2,222 | ' | ' | ' | 42 | 47 | ' | ' | ' | 2,487 | 2,269 |
Goodwill and intangible asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 92 | ' | ' | ' | 6 | 92 | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 92 |
Operating (loss) earnings | ' | ' | ' | ' | ' | ' | ' | ' | $418 | ($157) | $96 | $82 | $194 | $299 | ($157) | $96 | ' | ' | ' | ' | ' | $82 | $194 | $299 | ($157) | $96 |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% | ' | ' | ' | 100.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86.60% | 86.10% | ' | ' | ' | ' | ' | ' | ' | ' | 86.40% | 85.90% |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13.40% | 13.90% | ' | ' | ' | ' | ' | ' | ' | ' | 13.60% | 14.10% |
Selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.30% | 12.80% | ' | ' | ' | ' | ' | ' | ' | ' | 14.50% | 13.10% |
Goodwill and intangible asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% |
Operating (loss) earnings | ' | ' | ' | ' | ' | ' | ' | ' | 2.40% | -0.90% | 0.60% | ' | ' | ' | -0.90% | 0.60% | ' | ' | ' | ' | ' | ' | ' | ' | -0.90% | 0.60% |
Recovered_Sheet3
Summary of Significant Accounting Policies - Effect of Segment Revision of Administrative Costs (Detail) (USD $) | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 4 Months Ended | 6 Months Ended | 9 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 | Feb. 22, 2014 | Jun. 15, 2013 | Sep. 07, 2013 | Nov. 30, 2013 |
As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Independent Business [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Save-A-Lot [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Retail Food [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | Corporate [Member] | ||||
As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Originally Reported [Member] | As Originally Reported [Member] | As Originally Reported [Member] | Revision [Member] | Revision [Member] | Revision [Member] | Revision [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | |||||||||||||||||||||||||||||||
Operating earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating earnings (loss) | $418 | ($157) | $96 | $82 | $194 | $299 | ($157) | $96 | ' | ' | ' | ' | ' | $82 | $194 | $299 | ($157) | $96 | $235 | $199 | $254 | $55 | $128 | $181 | ' | ' | ' | $55 | $128 | $181 | $167 | $143 | $230 | $52 | $84 | $124 | ' | ' | ' | $52 | $84 | $124 | $72 | ($160) | ($36) | $25 | $32 | $56 | ($20) | ($20) | ($20) | $20 | $5 | $12 | $36 | ($56) | ($339) | ($352) | ($50) | ($50) | ($62) | $20 | $20 | $20 | $20 | ($30) | ($30) | ($42) |
% of sales | ' | ' | ' | 1.60% | 2.10% | 2.30% | ' | ' | ' | ' | ' | ' | ' | 1.60% | 2.10% | 2.30% | ' | ' | 2.90% | 2.40% | 3.10% | 2.30% | 3.00% | 2.90% | ' | ' | ' | 2.30% | 3.00% | 2.90% | 3.90% | 3.40% | 5.40% | 4.10% | 3.70% | 3.80% | ' | ' | ' | 4.10% | 3.70% | 3.80% | 1.60% | -3.40% | -0.70% | 1.70% | 1.30% | 1.60% | -1.40% | -0.80% | -0.60% | ' | 0.30% | 0.50% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Changes in the Company's Self-Insurance Liabilities (Detail) (USD $) | 12 Months Ended | 52 Months Ended | |
In Millions, unless otherwise specified | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 |
Accounting Policies [Abstract] | ' | ' | ' |
Beginning balance | $93 | $96 | $97 |
Expense | 31 | 22 | 39 |
Claim payments | -27 | -25 | -33 |
Ending balance | 97 | 93 | 103 |
Less current portion | -27 | -26 | -33 |
Long-term portion | $70 | $67 | $70 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Schedule of Changes in Accumulated Other Comprehensive Loss (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Equity [Abstract] | ' | ' | ' |
Pension and postretirement benefit plan accumulated other comprehensive loss at beginning of the fiscal year, net of tax | ($612) | ($657) | ($446) |
Other comprehensive income (loss) before reclassifications, net of tax (expense) benefit of $(85), $18 and $161, respectively | 202 | -20 | -262 |
Amortization of amounts included in net periodic benefit cost, net of tax (expense) of $(38), $(40) and $(32), respectively | 55 | 65 | 51 |
Net current-period Other comprehensive income (loss), net of tax (expense) benefit of $(149), $(22) and $129, respectively | 257 | 45 | -211 |
Divestiture of NAI pension plan accumulated other comprehensive loss, net of tax (expense) of $(31) | 48 | ' | ' |
Pension and postretirement benefit plan accumulated other comprehensive loss at the end of period, net of tax | ($307) | ($612) | ($657) |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Schedule of Changes in Accumulated Other Comprehensive Loss (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Equity [Abstract] | ' | ' | ' |
Other comprehensive income (loss) before reclassifications, amount of tax expense (benefit) | ($85) | $18 | $161 |
Amortization of amounts included in net periodic benefit cost, amount of tax (expense) | -38 | -40 | -32 |
Other comprehensive income (loss), tax | -123 | -22 | 129 |
Pension plan accumulated other comprehensive loss, tax | $31 | $31 | $31 |
Recovered_Sheet4
Goodwill and Intangible Assets - Change in Company's Goodwill and Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | $847 | $847 | ' |
Additions | ' | ' | ' |
Impairments | ' | ' | ' |
Other net adjustments | ' | ' | ' |
Goodwill, Ending Balance | 847 | 847 | 847 |
Intangible assets excluding amortization, Beginning Balance | 118 | 122 | ' |
Addition to finite lived intangible assets | ' | 1 | ' |
Impairment | ' | -6 | ' |
Intangible assets other adjustments | 5 | 1 | ' |
Intangible assets excluding amortization, Ending Balance | 123 | 118 | 122 |
Accumulated amortization, Beginning balance | -67 | -58 | ' |
Amortization Expense of intangible assets | -8 | -8 | -8 |
Intangible assets other adjustments | -5 | -1 | ' |
Accumulated amortization, Ending Balance | -80 | -67 | -58 |
Intangible assets, Beginning Balance | 51 | 64 | ' |
Intangible assets, Ending Balance | 43 | 51 | 64 |
Independent Business [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 710 | 710 | ' |
Additions | ' | ' | ' |
Impairments | ' | ' | ' |
Other net adjustments | ' | ' | ' |
Goodwill, Ending Balance | 710 | 710 | ' |
Save-A-Lot [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Beginning Balance | 137 | 137 | ' |
Additions | ' | ' | ' |
Impairments | ' | ' | ' |
Other net adjustments | ' | ' | ' |
Goodwill, Ending Balance | 137 | 137 | ' |
Trademarks and Tradenames - Indefinite Useful Lives [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Indefinite-lived Intangible Assets, Beginning Balance | 9 | 14 | ' |
Additions | ' | ' | ' |
Impairments | ' | -6 | ' |
Other net adjustments | ' | 1 | ' |
Indefinite-lived Intangible Assets, Ending Balance | 9 | 9 | ' |
Customer lists, customer relationships, favorable operating leases and other [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Beginning Balance | 106 | 105 | ' |
Addition to finite lived intangible assets | ' | 1 | ' |
Impairment of Intangible Assets, Finite-lived | ' | ' | ' |
Finite Lived Intangible Assets Other Net Adjustments | ' | ' | ' |
Finite-Lived Intangible Assets, Ending Balance | 111 | 106 | ' |
Accumulated amortization, Beginning balance | 65 | ' | ' |
Accumulated amortization, Ending Balance | 78 | 65 | ' |
Non-Compete Agreements [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Beginning Balance | 3 | 3 | ' |
Addition to finite lived intangible assets | ' | ' | ' |
Impairment of Intangible Assets, Finite-lived | ' | ' | ' |
Finite Lived Intangible Assets Other Net Adjustments | ' | ' | ' |
Finite-Lived Intangible Assets, Ending Balance | 3 | 3 | ' |
Accumulated amortization, Beginning balance | 2 | ' | ' |
Accumulated amortization, Ending Balance | $2 | $2 | ' |
Recovered_Sheet5
Goodwill and Intangible Assets - Change in Company's Goodwill and Intangible Assets (Parenthetical) (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
In Millions, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Finite-Lived intangible Assets, Accumulated Amortization | ($80) | ($67) | ($58) |
Customer lists, customer relationships, favorable operating leases and other [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-Lived intangible Assets, Accumulated Amortization | 78 | 65 | ' |
Non-Compete Agreements [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Finite-Lived intangible Assets, Accumulated Amortization | $2 | $2 | ' |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Impairment of goodwill | ' | ' | ' |
Amortization Expense of intangible assets | 8 | 8 | 8 |
Future amortization expense, Year One | 5 | ' | ' |
Future amortization expense, Year Two | 5 | ' | ' |
Future amortization expense, Year Three | 5 | ' | ' |
Future amortization expense, Year Four | 5 | ' | ' |
Future amortization expense, Year Five | 5 | ' | ' |
Independent Business [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Percentage by which fair value of good will exceeded carrying value | 75.00% | ' | ' |
Impairment of goodwill | ' | ' | ' |
Independent Business [Member] | Tradename [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Pre-tax non-cash impairment charge | ' | 6 | ' |
Save-A-Lot [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Minimum percentage by which fair value of good will exceeded carrying value | 100.00% | ' | ' |
Retail Food [Member] | ' | ' | ' |
Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Impairment of goodwill | ' | ' | $92 |
Recovered_Sheet6
Reserves for Closed Properties and Property, Plant and Equipment-Related Impairment Charges - Changes in Company's Reserves (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Restructuring And Related Activities [Abstract] | ' | ' | ' |
Beginning balance | $61 | $72 | $96 |
Additions | 4 | 16 | 9 |
Payments | -16 | -22 | -26 |
Adjustments | -2 | -5 | -7 |
Ending balance | $47 | $61 | $72 |
Recovered_Sheet7
Reserves for Closed Properties and Property, Plant and Equipment-Related Impairment Charges - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Significant Activity In Property Plant And Equipment [Line Items] | ' | ' | ' |
Property, Plant and equipment related assets carrying value | $45 | $291 | $10 |
Impairment charges | 24 | 251 | 3 |
Property, plant and equipment related assets fair value | 21 | 40 | 7 |
Save-A-Lot [Member] | ' | ' | ' |
Significant Activity In Property Plant And Equipment [Line Items] | ' | ' | ' |
Impairment charges | ' | $10 | ' |
Number of non - strategic stores closed | ' | 22 | ' |
Property_Plant_and_Equipment_C
Property, Plant and Equipment - Components of Property, Plant and Equipment (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | $4,322 | $5,187 |
Accumulated depreciation | -2,618 | -3,277 |
Accumulated amortization on capitalized lease assets | -207 | -210 |
Total property, plant and equipment, net | 1,497 | 1,700 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | 97 | 100 |
Building [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | 1,224 | 1,294 |
Property under construction [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | 34 | 37 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | 693 | 688 |
Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | 1,959 | 2,733 |
Capitalized lease assets [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property, plant and equipment | $315 | $335 |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $275 | $333 | $321 |
Amortization expense related to capitalized lease assets | $19 | $23 | $26 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Difference between fair value and book value of notes receivable | $2 | $2 |
Difference between fair value and book value of long-term debt | $83 | $57 |
LongTerm_Debt_LongTerm_Debt_an
Long-Term Debt - Long-Term Debt and Capital Lease Obligations (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | $2,486 | $2,540 |
Accounts Receivable Securitization Facility | ' | 40 |
Other | 18 | 28 |
Net discount on debt, using an effective interest rate of 4.63% to 8.58% | -16 | -40 |
Total debt and capital lease obligations | 2,504 | 2,559 |
Less current maturities of long-term debt and capital lease obligations | -18 | -19 |
Long-term debt and capital lease obligations | 2,486 | 2,540 |
4.50% Secured Term Loan Facility due March 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | 1,474 | ' |
8.00% Senior Notes due May 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | 628 | 1,000 |
6.75% Senior Notes due June 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | 400 | ' |
2.17% to 4.25% Revolving ABL Credit Facility due March 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | ' | ' |
8.00% Secured Term Loan Facility due August 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | ' | 834 |
7.50% Senior Notes due November 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | 0 | 490 |
2.21% to 4.75% Revolving ABL Credit Facility due August 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long Term Debentures and Notes due | ' | $207 |
LongTerm_Debt_LongTerm_Debt_an1
Long-Term Debt - Long-Term Debt and Capital Lease Obligations (Parenthetical) (Detail) | 12 Months Ended | |
Feb. 22, 2014 | Feb. 23, 2013 | |
Minimum [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Effective interest rate | 4.63% | ' |
Maximum [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Effective interest rate | 8.58% | ' |
4.50% Secured Term Loan Facility due March 2019 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 4.50% | 4.50% |
8.00% Senior Notes due May 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 8.00% | 8.00% |
6.75% Senior Notes due June 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 6.75% | 6.75% |
2.17% to 4.25% Revolving ABL Credit Facility due March 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Minimum | 2.17% | 2.17% |
Debt Instrument, Interest Rate, Maximum | 4.25% | 4.25% |
8.00% Secured Term Loan Facility due August 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 8.00% | 8.00% |
7.50% Senior Notes due November 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument, interest rate | 7.50% | 7.50% |
2.21% to 4.75% Revolving ABL Credit Facility due August 2017 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt Instrument, Interest Rate, Minimum | 2.21% | 2.21% |
Debt Instrument, Interest Rate, Maximum | 4.25% | 4.25% |
LongTerm_Debt_Future_Maturitie
Long-Term Debt - Future Maturities of Long-Term Debt, Excluding Net Discount on Debt (Detail) (USD $) | Feb. 22, 2014 |
In Millions, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2015 | $18 |
2016 | 15 |
2017 | 643 |
2018 | 15 |
2019 | 15 |
Thereafter | $1,814 |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 4 Months Ended | 12 Months Ended | 0 Months Ended | 4 Months Ended | 0 Months Ended | 4 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 23, 2013 | Mar. 22, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 22, 2014 | Feb. 23, 2013 | Mar. 22, 2013 | Feb. 22, 2014 | Mar. 22, 2013 | Mar. 22, 2013 | Feb. 23, 2013 | 16-May-13 | Jun. 15, 2013 | Feb. 22, 2014 | 21-May-13 | Jun. 15, 2013 | Feb. 22, 2014 | 21-May-13 | Jun. 15, 2013 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Mar. 22, 2013 | Feb. 22, 2014 | Jan. 31, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Jan. 31, 2014 | 16-May-13 | Jun. 15, 2013 | Feb. 22, 2014 | Jan. 31, 2014 | Jan. 31, 2014 |
Secured Term Loan Facility August 2018 [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Revolving ABL Credit Facility [Member] | Revolving ABL Credit Facility [Member] | Senior Secured Asset Based Revolving Credit Facility [Member] | Senior Secured Asset Based Revolving Credit Facility [Member] | Senior Secured Asset Based Revolving Credit Facility [Member] | Senior Secured Asset Based Revolving Credit Facility [Member] | Revolving ABL Credit Facility Due March 2018 [Member] | 8.00% Secured Term Loan Facility due August 2018 [Member] | 8.00% Secured Term Loan Facility due August 2018 [Member] | 8.00% Secured Term Loan Facility due August 2018 [Member] | 2021 Senior Notes [Member] | 2021 Senior Notes [Member] | 2021 Senior Notes [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | Term Loan Credit Facility [Member] | subject to the agreement [Member] | 7.50% Notes due November 2014 [Member] | Secured Term Loan Facility Due March 2019 [Member] | Secured Term Loan Facility Due March 2019 [Member] | Secured Term Loan Facility Due March 2019 [Member] | Secured Term Loan Facility Due March 2019 [Member] | Term Loan Amended Facility [Member] | Term Loan Amended Facility [Member] | Term Loan Amended Facility [Member] | Term Loan Amended Facility [Member] | Term Loan Amended Facility [Member] | Term Loan Amended Facility [Member] | ||||
Property, Plant and Equipment [Member] | Assets [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Senior Secured Asset Based Revolving Credit Facility [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||
Proforma Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility amount outstanding | ' | $40 | ' | $850 | ' | $834 | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 'March 2018 | ' | ' | ' | ' | ' | ' | ' | 'March 2019 | 'March 2019 | ' | ' | ' | ' | ' | ' | ' | 'August 2018 | ' | ' | ' | ' | ' | ' | 'March 2019 | ' | ' | ' | ' | ' |
Interest rate at the rate of ("LIBOR") | ' | ' | ' | ' | ' | 6.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | 3.50% | 4.00% |
LIBOR floor rate | ' | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.25% | ' | ' | ' | ' |
Line of credit facility amount outstanding, current | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ground-leased real estate and associated equipment pledged as collateral | 704 | ' | ' | ' | ' | ' | 302 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term assets of discontinued operations | ' | 4,977 | ' | ' | ' | ' | ' | 767 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset-based revolving facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,650 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of credit facility | ' | ' | ' | ' | '6 years | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility amount | ' | 200 | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR Plus interest rate | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate at the rate of ("Prime plus") | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Existing term loan | ' | ' | ' | ' | 1,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR floor interest rate | ' | ' | ' | ' | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable securitization facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Refinancing of bond | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 490 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | ' | ' | 8.00% | ' | 8.00% | ' | ' | ' | 7.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes maturity period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2021 | '2021 | ' | '2016 | ' | ' | ' | ' | ' | '2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility fees | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 101 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum letter of credit fee | ' | ' | ' | ' | ' | ' | ' | ' | 2.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets collateralized by the ABL Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' | 786 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused credit | ' | ' | ' | ' | ' | ' | ' | ' | 1,066 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date of revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250 | ' | ' | ' | ' | 1,474 | ' | ' | 250 | ' | ' | ' | ' | ' |
Revolving ABL credit facility borrowing | ' | ' | ' | ' | ' | ' | ' | ' | 3,803 | 4,010 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving ABL credit facility prepayment | ' | ' | ' | ' | ' | ' | ' | ' | 2,291 | 2,111 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net cash proceeds to prepay outstanding loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum period for prepayment of loans outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of aggregate principal amount to prepay outstanding loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 50.00% | ' | ' | ' | ' | ' | ' |
Remaining principal balance, classified as current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment of loans outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Financing cost | 151 | 66 | 8 | ' | ' | ' | ' | ' | ' | ' | ' | 76 | ' | ' | ' | ' | ' | ' | ' | 52 | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | 17 | ' | ' | ' |
Financing cost, capitalized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 61 | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' |
Financing cost, expensed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | 49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' | ' | ' |
Recognize non cash charge for write-off of existing unamortized financing costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recognize non cash charge for accelerated amortization of original issue discount on the existing term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 372 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' | ' |
Refinancing premium paid to lenders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of discount on the Secured Term Loan Facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 1 | ' | ' |
Maturity date description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Springing maturity provision that would have accelerated the maturity of the facility to 90 days prior to May 1, 2016 | ' | ' | ' | ' | ' |
Aggregate principal amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 372 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, issued amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes contain operating covenants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400 | ' | ' | 628 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of outstanding borrowings | ' | 1.98% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Facility fee in accordance of current credit rating | ' | 0.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Account receivable pledged as collateral | ' | 282 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt with current maturities that are classified in Long-term debt | $18 | $19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leases_Noncancellable_Operatin
Leases - Noncancellable Operating Leases and Capital Leases (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Operating Leases | ' | ' |
2015 | $122 | ' |
2016 | 116 | ' |
2017 | 99 | ' |
2018 | 79 | ' |
2019 | 60 | ' |
Thereafter | 150 | ' |
Total future minimum obligations | 626 | ' |
Capital Leases | ' | ' |
2015 | 51 | ' |
2016 | 48 | ' |
2017 | 44 | ' |
2018 | 41 | ' |
2019 | 39 | ' |
Thereafter | 169 | ' |
Total future minimum obligations | 392 | ' |
Less interest | -119 | ' |
Present value of net future minimum obligations | 273 | ' |
Less current capital lease obligations | -27 | ' |
Long-term capital lease obligations | $246 | $275 |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Feb. 22, 2014 |
Leases [Abstract] | ' |
Future minimum subtenant rentals | $69 |
Term of lease minimum | '1 year |
Term of lease maximum | '6 years |
Leases_Rent_Expense_and_Subten
Leases - Rent Expense and Subtenant Rentals (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Leases [Abstract] | ' | ' | ' |
Minimum rent | $129 | $127 | $118 |
Contingent rent | 5 | 6 | 2 |
Rent expense | 134 | 133 | 120 |
Subtenant rentals | -13 | -13 | -15 |
Total net rent expense | $121 | $120 | $105 |
Leases_Future_Minimum_Lease_an
Leases - Future Minimum Lease and Subtenant Rentals Under Noncancellable Leases (Detail) (USD $) | Feb. 22, 2014 |
In Millions, unless otherwise specified | |
Operating Leases | ' |
2015 | $3 |
2016 | 2 |
2017 | 2 |
2018 | 2 |
2019 | 1 |
Thereafter | 1 |
Total minimum lease receipts | 11 |
Direct Financing Leases | ' |
2015 | 2 |
2016 | 2 |
2017 | 1 |
2018 | ' |
2019 | ' |
Thereafter | ' |
Total minimum lease receipts | 5 |
Less unearned income | -1 |
Net investment in direct financing leases | 4 |
Less current portion | -1 |
Long-term portion | $3 |
Leases_Carrying_Value_of_Owned
Leases - Carrying Value of Owned Property Leased to Third Parties Under Operating Leases (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Leases [Abstract] | ' | ' |
Property, plant and equipment | $4 | $4 |
Less accumulated depreciation | -3 | -3 |
Property, plant and equipment, net | $1 | $1 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Current | ' | ' | ' |
Federal | $30 | ($98) | ($92) |
State | 5 | -9 | -8 |
Total current | 35 | -107 | -100 |
Deferred | -30 | -56 | 59 |
Total income tax provision (benefit) | $5 | ($163) | ($41) |
Income_Taxes_Difference_Betwee
Income Taxes - Difference Between Actual Tax Provision and Tax Provision Computed by Applying Statutory Federal Income Tax Rate to Losses Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Federal taxes based on statutory rate | $4 | ($149) | ($53) |
State income taxes, net of federal benefit | ' | -13 | -9 |
Goodwill and intangible asset impairment | ' | ' | 32 |
Tax contingency | -1 | 1 | -5 |
Change in valuation allowance | -1 | -3 | -5 |
Other | 3 | 1 | -1 |
Total income tax provision (benefit) | $5 | ($163) | ($41) |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Compensation and benefits | $224 | $367 |
Self-insurance | 24 | 20 |
Property, plant and equipment and capitalized lease assets | 132 | 110 |
Loss on sale of discontinued operations | 1,339 | 1,341 |
Net operating loss carryforwards | 23 | 22 |
Other | 80 | 104 |
Gross deferred tax assets | 1,822 | 1,964 |
Valuation allowance | -1,356 | -1,358 |
Total deferred tax assets | 466 | 606 |
Deferred tax liabilities: | ' | ' |
Property, plant and equipment and capitalized lease assets | -147 | -204 |
Inventories | -40 | -28 |
Intangible assets | -25 | -21 |
Other | -16 | -19 |
Total deferred tax liabilities | -228 | -272 |
Net deferred tax asset | $238 | $334 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Net deferred tax asset | $238 | $334 | ' |
Long-term deferred tax assets | 287 | 345 | ' |
Current deferred tax liabilities | 49 | 11 | ' |
State net operating loss carryforwards | 475 | ' | ' |
State net operating loss carryforwards expiration dates | 'Expire beginning in 2015 and continuing through 2033 | ' | ' |
Valuation allowance | 16 | ' | ' |
Capital loss expiration date | '2019 | ' | ' |
Unrecognized tax benefits that would impact effective tax rate if recognized | 48 | 60 | 67 |
Unrecognized tax benefits expects to resolve within the next 12 months | 8 | ' | ' |
Recognized expense related to interest and penalties | 4 | 0 | 0 |
Unrecognized tax benefits, related to accrued interest and penalties | 31 | 60 | ' |
Payments of interest and penalties | $14 | $0 | ' |
Income_Taxes_Changes_in_Compan
Income Taxes - Changes in Company's Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Beginning balance | $187 | $165 | $182 |
Increase based on tax positions related to the current year | 15 | 5 | 14 |
Decrease based on tax positions related to the current year | ' | -1 | -1 |
Increase based on tax positions related to prior years | 9 | 83 | 21 |
Decrease based on tax positions related to prior years | -131 | -62 | -46 |
Decrease due to lapse of statute of limitations | -4 | -3 | -5 |
Ending balance | $76 | $187 | $165 |
StockBased_Awards_Additional_I
Stock-Based Awards - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Contractual term | '5 years 4 months 28 days | ' | ' |
Award units grant to certain employees | 9,000,000 | 8,000,000 | ' |
Fair value of the options at grant date | $2.78 | $0.98 | ' |
Number of stock options granted during the period | ' | ' | 0 |
Term for payout of awards over achievement of financial goals | ' | '3 years | ' |
Excess tax benefits realized related to the stock based awards | $1 | $2 | $2 |
Unrecognized compensation expense related to the unvested stock based awards | 18 | ' | ' |
Weighted average remaining vesting period of expenses expected to be recognized | '2 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Exercise price at which stock options granted to key salaried employees and non employee directors as compare to fair market value | 100.00% | ' | ' |
Chief Executive Officer [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Fair value of the options at grant date | ' | $1.40 | ' |
Number of stock options granted during the period | ' | 2,000,000 | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Period of stock options vested | '3 years | '4 years | ' |
Stock Options Prior 2006 Fiscal [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Contractual term | '10 years | ' | ' |
Stock Options from 2006 Fiscal to 2012 Fiscal [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based awards granted contractual term maximum | '7 years | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Accelerated stock compensation resulted by deemed change-in-control | 3 | ' | ' |
Award units grant to certain employees | 491,000 | ' | ' |
Restricted Stock [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restrictions on the restricted stock awards lapse | '1 year | ' | ' |
Restricted Stock [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Restrictions on the restricted stock awards lapse | '5 years | ' | ' |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award units grant to certain employees | ' | 1,000,000 | ' |
Term for payout of awards over achievement of financial goals | '3 years | ' | ' |
Share granted to certain employees at a fair value | ' | $6.15 | ' |
Stock Options and Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Accelerated stock compensation resulted by deemed change-in-control | 9 | ' | ' |
Long Term Incentive Program [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Accelerated stock compensation resulted by deemed change-in-control | 5 | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Accelerated stock compensation resulted by deemed change-in-control | $1 | ' | ' |
2012 Stock Awards Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Period of stock options vested | '10 years | ' | ' |
Number of reserved shares | 12,000,000 | ' | ' |
2013 LTIP [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Award units grant to certain employees | ' | 5,000,000 | ' |
Fair value of the options at grant date | $1.38 | ' | ' |
StockBased_Awards_Stock_Option
Stock-Based Awards - Stock Options Granted, Exercised and Outstanding (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Feb. 22, 2014 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Beginning Balance, Shares Under Option, Outstanding | 22,246 |
Shares Under Option, Granted | 10,083 |
Shares Under Option, Exercised | -3,121 |
Shares Under Option, Canceled and forfeited | -5,873 |
Ending Balance, Shares Under Option, Outstanding | 23,335 |
Shares Under Option, Vested and expected to vest in the future | 21,646 |
Shares Under Option, Exercisable | 12,050 |
Beginning Balance, Weighted Average Exercise Price , Outstanding | $19.20 |
Weighted Average Exercise Price, Granted | $6.58 |
Weighted Average Exercise Price, Exercised | $2.29 |
Weighted Average Exercise Price, Canceled and forfeited | $23.70 |
Ending Balance, Weighted Average Exercise Price ,Outstanding | $14.87 |
Weighted Average Exercise Price, Vested and expected to vest in the future | $15.56 |
Weighted Average Exercise Price, Exercisable | $23.38 |
Weighted Average Remaining Contractual Term, Outstanding | '5 years 4 months 28 days |
Weighted Average Remaining Contractual Term, Vested and expected to vest in the future | '5 years 1 month 13 days |
Weighted Average Remaining Contractual Term, Exercisable | '2 years 18 days |
Aggregate Intrinsic Value, Outstanding | $15,982 |
Aggregate Intrinsic Value, Vested and expected to vest in the future | 15,101 |
Aggregate Intrinsic Value, Exercisable | $7,340 |
StockBased_Awards_Assumptions_
Stock-Based Awards - Assumptions Related to Valuation of Company's LTIP/Stock Options (Detail) | 12 Months Ended | |
Feb. 22, 2014 | Feb. 23, 2013 | |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Dividend yield | ' | 1.00% |
Volatility rate | 49.30% | 42.30% |
Risk-free interest rate | 0.60% | 0.40% |
Expected life | '4 years | '4 years 6 months |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Dividend yield | ' | 2.10% |
Volatility rate | 51.30% | 61.20% |
Risk-free interest rate | 1.00% | 0.60% |
Expected life | '6 years | '6 years |
2013 LTIP [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Dividend yield | ' | 4.10% |
Volatility rate | ' | 45.80% |
Risk-free interest rate | ' | 0.40% |
Expected life | ' | '3 years |
StockBased_Awards_Restricted_S
Stock-Based Awards - Restricted Stock Awards Activities (Detail) (USD $) | 12 Months Ended | |
Feb. 22, 2014 | Feb. 23, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Restricted Stock | 9,000,000 | 8,000,000 |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Outstanding Beginning Balance, Restricted Stock | 1,443,000 | ' |
Granted, Restricted Stock | 491,000 | ' |
Lapsed, Restricted Stock | -967,000 | ' |
Canceled and forfeited, Restricted Stock | -30,000 | ' |
Outstanding Ending Balance, Restricted Stock | 937,000 | ' |
Outstanding Beginning Balance, Weighted Average Grant-Date | 7.83 | ' |
Granted, Weighted Average Grant-Date | 6.98 | ' |
Lapsed, Weighted Average Grant-Date | 6.23 | ' |
Canceled and forfeited, Weighted Average Grant-Date | 6.08 | ' |
Outstanding Ending Balance, Weighted Average Grant-Date | 9.09 | ' |
StockBased_Awards_Components_o
Stock-Based Awards - Components of Pre-Tax Stock-Based Compensation Expense and Related Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Stock-based compensation | $22 | $13 | $13 |
Income tax benefits | -8 | -5 | -5 |
Stock-based compensation (net of tax) | $14 | $8 | $8 |
Net_Earnings_Loss_Per_Share_Ca
Net Earnings (Loss) Per Share - Calculation of Basic and Diluted Net Earnings (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 22, 2014 | Nov. 30, 2013 | Sep. 07, 2013 | Feb. 23, 2013 | Dec. 01, 2012 | Sep. 08, 2012 | Jun. 15, 2013 | Jun. 16, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Net earnings (loss) per share-basic: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (loss) from continuing operations available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | $6 | ($263) | ($110) |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Net earnings (loss) from continuing operations per share-basic | ' | ' | ' | ' | ' | ' | ' | ' | $0.02 | ($1.24) | ($0.52) |
Income (loss) from discontinued operations, net of tax, available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 176 | -1,203 | -930 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Net earnings (loss) from discontinued operations per share-basic | ' | ' | ' | ' | ' | ' | ' | ' | $0.69 | ($5.67) | ($4.39) |
Net earnings (loss) available to common stockholders | 26 | 31 | 40 | -1,412 | 16 | -111 | 85 | 41 | 182 | -1,466 | -1,040 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Net earnings (loss) per share-basic | ' | ' | ' | ' | ' | ' | ' | ' | $0.71 | ($6.91) | ($4.91) |
Net earnings (loss) per share-diluted: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (loss) from continuing operations available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 6 | -263 | -110 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Dilutive impact of stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Weighted average shares outstanding-diluted | 261 | 262 | 261 | 212 | 214 | 212 | 250 | 214 | 258 | 212 | 212 |
Net earnings (loss) from continuing operations per share-diluted | $0.15 | $0.12 | $0.15 | ' | ' | ' | ($0.43) | ' | $0.02 | ($1.24) | ($0.52) |
Income (loss) from discontinued operations, net of tax, available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | 176 | -1,203 | -930 |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Dilutive impact of stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Weighted average shares outstanding-diluted | 261 | 262 | 261 | 212 | 214 | 212 | 250 | 214 | 258 | 212 | 212 |
Net earnings (loss) from discontinued operations per share-diluted | ' | ' | ' | ' | ' | ' | ' | ' | $0.68 | ($5.67) | ($4.39) |
Net earnings (loss) available to common stockholders | ' | ' | ' | ' | ' | ' | ' | ' | $182 | ($1,466) | ($1,040) |
Weighted average shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 255 | 212 | 212 |
Dilutive impact of stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Weighted average shares outstanding-diluted | 261 | 262 | 261 | 212 | 214 | 212 | 250 | 214 | 258 | 212 | 212 |
Net earnings (loss) per share-diluted | $0.10 | $0.12 | $0.15 | ($6.65) | $0.08 | ($0.52) | $0.34 | $0.19 | $0.70 | ($6.91) | ($4.91) |
Net_Earnings_Loss_Per_Share_Ad
Net Earnings (Loss) Per Share - Additional Information (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 18 | 25 | 21 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 21, 2014 | Aug. 23, 2011 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Employees | |||||
Agreement | |||||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Reduction in postretirement benefit obligation | $11 | $39 | ' | ' | ' |
Accumulated other Comprehensive loss, net of tax, recognized | ' | ' | 257 | 45 | -211 |
Actuarial loss | ' | ' | 63 | ' | ' |
Contribution to other postretirement benefits plan | ' | ' | 3 | ' | ' |
Defined benefit plan periodic cost increased in next fiscal year | ' | ' | ' | ' | 10 |
Defined benefit plan assets unrecognized gain loss recognized period | ' | ' | '3 years | ' | ' |
Assumed healthcare cost trend rate | ' | ' | 7.50% | ' | ' |
Specified age of employee for post retirement benefit plans | ' | ' | '65 years | ' | ' |
Assumed healthcare cost trend rate description | ' | ' | 'The assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation before age 65 was 7.50 percent as of February 22, 2014. The assumed healthcare cost trend rate for retirees before age 65 will decrease by 0.25 percent for each year through fiscal 2026, until it reaches the ultimate trend rate of 4.50 percent. For those retirees whose health plans provide for variable employer contributions, the assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation after age 65 was 6.00 percent as of February 22, 2014. The assumed healthcare cost trend rate for retirees after age 65 will decrease through fiscal 2026, until it reaches the ultimate trend rate of 4.50 percent | ' | ' |
Company's service and interest cost would impact due to a 100 basis point change in the trend rate | ' | ' | 1 | ' | ' |
Company's accumulated postretirement benefit obligation would impact due to a 100 basis point decrease in the trend rate | ' | ' | 5 | ' | ' |
Company's accumulated postretirement benefit obligation would impact due to a 100 basis point increase in the trend rate | ' | ' | 6 | ' | ' |
Contribute in excess of minimum required amounts by additional contributions end of fiscal 2015 | ' | ' | 25 | ' | ' |
Contribute in excess of minimum required amounts by additional contributions end of fiscal 2016 | ' | ' | 25 | ' | ' |
Contribute in excess of minimum required amounts by additional contributions end of fiscal 2017 | ' | ' | 50 | ' | ' |
Total contribution expenses of defined contribution plans | ' | ' | 11 | 17 | 23 |
Shares in plan assets | ' | ' | 3 | 7 | ' |
Obligation for post-employment benefits | ' | ' | 24 | ' | ' |
Post-employment benefits included in accrued vacation, compensation and benefits | ' | ' | 9 | ' | ' |
Post-employment benefits included in other liabilities | ' | ' | 15 | ' | ' |
Contribution to Pension Plans | ' | ' | 39 | 38 | 38 |
Description of multi-employer plans | ' | ' | 'Among other factors, red zone status plans are generally less than 65 percent funded and are considered in critical status, plans in yellow zone or orange zone status are less than 80 percent funded and are considered in endangered or seriously endangered status, and green zone plans are at least 80 percent funded | ' | ' |
Company's number of employees | ' | ' | 35,800 | ' | ' |
Number of collective bargaining agreements covering employees renegotiated | ' | ' | 20 | ' | ' |
Number of employees renegotiated collective bargaining agreement | ' | ' | 8,200 | ' | ' |
Number of employees expired without renegotiated collective bargaining agreement | ' | ' | 100 | ' | ' |
Number of collective bargaining agreements covering employees expired without renegotiated | ' | ' | 2 | ' | ' |
Number of collective bargaining agreements covering employees expired | ' | ' | 23 | ' | ' |
Red Zone [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Maximum percentage of funded status | ' | ' | 65.00% | ' | ' |
Yellow Zone [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Maximum percentage of funded status | ' | ' | 80.00% | ' | ' |
Green Zone [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Maximum percentage of funded status | ' | ' | 80.00% | ' | ' |
Number of Employees Covered by Collective Bargaining Agreements [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Number of employees covered by collective bargaining agreements | ' | ' | 15,300 | ' | ' |
Collective Bargaining Agreements Covering Employees Expire Within One Year [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Number of employee expire collective bargaining agreement | ' | ' | 11,800 | ' | ' |
Shaw Banner [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Accumulated other Comprehensive loss, net of tax, recognized | ' | ' | ' | 48 | ' |
Unfunded benefit obligations of divested defined benefit pension plan | ' | ' | ' | 108 | ' |
Pension Benefits [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Accumulated benefit obligation for the defined benefit pension plans | ' | ' | 2,726 | 2,893 | ' |
Unfunded benefit obligations of divested defined benefit pension plan | ' | ' | 2,726 | 2,893 | 2,745 |
Actuarial loss | ' | ' | 141 | -119 | ' |
Defined benefit plan periodic cost increased | ' | ' | ' | ' | 2 |
Contribution to Pension Plans | ' | ' | 118 | 93 | ' |
Pension Benefits [Member] | Minimum [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Contribution to pension plans | ' | ' | 130 | ' | ' |
Pension Benefits [Member] | Maximum [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Contribution to pension plans | ' | ' | 140 | ' | ' |
Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Reduction in postretirement benefit obligation | ' | ' | 11 | ' | ' |
Unfunded benefit obligations of divested defined benefit pension plan | ' | ' | 81 | 109 | 116 |
Actuarial loss | ' | ' | 12 | 9 | ' |
Defined benefit plan periodic cost increased | ' | ' | ' | ' | 1 |
Contribution to Pension Plans | ' | ' | 6 | 5 | ' |
Multiemployer Postretirement Benefit Plans Other than Pensions [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Contribution to Multi-Employer Plans | ' | ' | $87 | $90 | $90 |
Retirees Before Age 65 [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Assumed healthcare cost trend rate | ' | ' | 0.25% | ' | ' |
Assumed healthcare cost ultimate trend rate | ' | ' | 4.50% | ' | ' |
Retirees After Age 65 [Member] | ' | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Assumed healthcare cost trend rate | ' | ' | 6.00% | ' | ' |
Assumed healthcare cost ultimate trend rate | ' | ' | 4.50% | ' | ' |
Benefit_Plans_Benefit_Obligati
Benefit Plans - Benefit Obligation, Fair Value of Plan Assets and Funded Status of Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Detail) (USD $) | 0 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Feb. 21, 2014 | Aug. 23, 2011 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Change in Benefit Obligation | ' | ' | ' | ' | ' |
Plan Amendment | ($11) | ($39) | ' | ' | ' |
Actuarial loss (gain) | ' | ' | -63 | ' | ' |
Changes in Plan Assets | ' | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | ' | ' | 2,031 | ' | ' |
Employer contributions | ' | ' | 39 | 38 | 38 |
Fair value of plan assets at end of year | ' | ' | 2,261 | 2,031 | ' |
Pension Benefits [Member] | ' | ' | ' | ' | ' |
Change in Benefit Obligation | ' | ' | ' | ' | ' |
Benefit obligation at beginning of year | ' | ' | 2,893 | 2,745 | ' |
Service cost | ' | ' | ' | ' | ' |
Interest cost | ' | ' | 121 | 123 | 126 |
Actuarial loss (gain) | ' | ' | -141 | 119 | ' |
Benefits paid | ' | ' | -147 | -94 | ' |
Benefit obligation at end of year | ' | ' | 2,726 | 2,893 | 2,745 |
Changes in Plan Assets | ' | ' | ' | ' | ' |
Fair value of plan assets at beginning of year | ' | ' | 2,031 | 1,827 | ' |
Actual return on plan assets | ' | ' | 259 | 205 | ' |
Employer contributions | ' | ' | 118 | 93 | ' |
Benefits paid | ' | ' | -147 | -94 | ' |
Fair value of plan assets at end of year | ' | ' | 2,261 | 2,031 | 1,827 |
Funded status at end of year | ' | ' | -465 | -862 | ' |
Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' |
Change in Benefit Obligation | ' | ' | ' | ' | ' |
Benefit obligation at beginning of year | ' | ' | 109 | 116 | ' |
Plan Amendment | ' | ' | -11 | ' | ' |
Service cost | ' | ' | 2 | 2 | 2 |
Interest cost | ' | ' | 4 | 5 | 7 |
Actuarial loss (gain) | ' | ' | -12 | -9 | ' |
Benefits paid | ' | ' | -6 | -5 | ' |
Other | ' | ' | -5 | ' | ' |
Benefit obligation at end of year | ' | ' | 81 | 109 | 116 |
Changes in Plan Assets | ' | ' | ' | ' | ' |
Employer contributions | ' | ' | 6 | 5 | ' |
Plan participants' contributions | ' | ' | 3 | 4 | ' |
Benefits paid | ' | ' | -9 | -9 | ' |
Funded status at end of year | ' | ' | ($81) | ($109) | ' |
Benefit_Plans_Amounts_Recogniz
Benefit Plans - Amounts Recognized in Consolidated Balance Sheets (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 |
In Millions, unless otherwise specified | ||
Pension Benefits [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Accrued vacation, compensation and benefits | ($3) | ($2) |
Pension and other postretirement benefit obligations | -462 | -860 |
Funded status at end of year | -465 | -862 |
Other Postretirement Benefits [Member] | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' |
Accrued vacation, compensation and benefits | -6 | -7 |
Pension and other postretirement benefit obligations | -75 | -102 |
Funded status at end of year | ($81) | ($109) |
Benefit_Plans_Amounts_Recogniz1
Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Losses for Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 26, 2011 |
In Millions, unless otherwise specified | ||||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Total recognized in Accumulated other comprehensive loss | ($307) | ($612) | ($657) | ($446) |
Total recognized in Accumulated other comprehensive loss, net of tax | -307 | -612 | ' | ' |
Pension Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Prior service benefit | ' | ' | ' | ' |
Net actuarial loss | -567 | -928 | ' | ' |
Total recognized in Accumulated other comprehensive loss | -567 | -928 | ' | ' |
Total recognized in Accumulated other comprehensive loss, net of tax | -324 | -570 | ' | ' |
Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Prior service benefit | 55 | 57 | ' | ' |
Net actuarial loss | -25 | -46 | ' | ' |
Total recognized in Accumulated other comprehensive loss | 30 | 11 | ' | ' |
Total recognized in Accumulated other comprehensive loss, net of tax | $17 | $7 | ' | ' |
Benefit_Plans_Net_Periodic_Ben
Benefit Plans - Net Periodic Benefit Cost (Income) and Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) for Defined Benefit Pension and Other Postretirement Benefit Plans (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Pension Benefits [Member] | ' | ' | ' |
Net Periodic Benefit Cost | ' | ' | ' |
Service cost | ' | ' | ' |
Interest cost | 121 | 123 | 126 |
Expected return on plan assets | -141 | -133 | -114 |
Amortization of prior service benefit | ' | ' | ' |
Amortization of net actuarial loss | 101 | 111 | 88 |
Settlement | ' | ' | 2 |
Net periodic benefit cost (income) | 81 | 101 | 102 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | ' | ' | ' |
Prior service benefit | ' | ' | ' |
Amortization of prior service benefit | ' | ' | ' |
Net actuarial (gain) loss | -259 | 46 | 417 |
Amortization of net actuarial gain | -101 | -110 | -88 |
Total recognized in Other comprehensive (income) loss | -360 | -64 | 329 |
Total recognized in net periodic benefit (cost) income and Other comprehensive income (loss) | 279 | 37 | 431 |
Other Postretirement Benefits [Member] | ' | ' | ' |
Net Periodic Benefit Cost | ' | ' | ' |
Service cost | 2 | 2 | 2 |
Interest cost | 4 | 5 | 7 |
Expected return on plan assets | ' | ' | ' |
Amortization of prior service benefit | -13 | -12 | -9 |
Amortization of net actuarial loss | 5 | 6 | 4 |
Settlement | ' | ' | ' |
Net periodic benefit cost (income) | -2 | 1 | 4 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) | ' | ' | ' |
Prior service benefit | -11 | ' | -52 |
Amortization of prior service benefit | 12 | 13 | 9 |
Net actuarial (gain) loss | -16 | -7 | 16 |
Amortization of net actuarial gain | -5 | -6 | -4 |
Total recognized in Other comprehensive (income) loss | -20 | ' | -31 |
Total recognized in net periodic benefit (cost) income and Other comprehensive income (loss) | $22 | $1 | ($27) |
Benefit_Plans_Weighted_Average
Benefit Plans - Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Cost (Detail) | 12 Months Ended | ||
Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | |
Benefit obligation assumptions: | ' | ' | ' |
Discount rate | 4.65% | 4.25% | 4.55% |
Rate of compensation increase | ' | 2.00% | 2.00% |
Net periodic benefit cost assumptions: | ' | ' | ' |
Discount rate | 4.25% | 4.55% | 5.60% |
Rate of compensation increase | 2.00% | 2.00% | 2.00% |
Expected return on plan assets | 7.00% | 7.25% | 7.50% |
Benefit_Plans_Asset_Allocation
Benefit Plans - Asset Allocation Targets and Actual Allocation of Pension Plan Assets (Detail) | 12 Months Ended | |
Feb. 22, 2014 | Feb. 23, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 100.00% | 100.00% |
Target allocation percentage of assets | 100.00% | ' |
Domestic equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 30.20% | 32.90% |
Target allocation percentage of assets | 29.60% | ' |
International equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 14.10% | 15.30% |
Target allocation percentage of assets | 13.70% | ' |
Private equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 5.50% | 5.40% |
Target allocation percentage of assets | 5.60% | ' |
Fixed income [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 41.30% | 37.30% |
Target allocation percentage of assets | 42.30% | ' |
Real estate [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Plan assets allocation, Total | 8.90% | 9.10% |
Target allocation percentage of assets | 8.80% | ' |
Benefit_Plans_Fair_Value_of_As
Benefit Plans - Fair Value of Assets of Company's Benefit Plans Held in Master Trust (Detail) (USD $) | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
In Millions, unless otherwise specified | |||
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | $2,261 | $2,031 | ' |
Common Stock [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 579 | 554 | ' |
Common collective trusts - fixed income [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 253 | 247 | ' |
Common collective trusts - equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 344 | 335 | ' |
Government securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 181 | 152 | ' |
Mutual funds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 295 | 272 | ' |
Corporate bonds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 290 | 183 | ' |
Real estate partnerships [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 149 | 136 | ' |
Private equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 125 | 110 | ' |
Mortgage-backed securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 37 | 35 | ' |
Other [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 8 | 7 | ' |
Level 1 [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 723 | 668 | ' |
Level 1 [Member] | Common Stock [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 579 | 554 | ' |
Level 1 [Member] | Common collective trusts - fixed income [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Common collective trusts - equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Government securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 92 | 60 | ' |
Level 1 [Member] | Mutual funds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 52 | 51 | ' |
Level 1 [Member] | Corporate bonds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Real estate partnerships [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Private equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 1 [Member] | Other [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | 3 | ' |
Level 2 [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 1,264 | 1,117 | ' |
Level 2 [Member] | Common Stock [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 2 [Member] | Common collective trusts - fixed income [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 253 | 247 | ' |
Level 2 [Member] | Common collective trusts - equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 344 | 335 | ' |
Level 2 [Member] | Government securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 89 | 92 | ' |
Level 2 [Member] | Mutual funds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 243 | 221 | ' |
Level 2 [Member] | Corporate bonds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 290 | 183 | ' |
Level 2 [Member] | Real estate partnerships [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 2 [Member] | Private equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 2 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 37 | 35 | ' |
Level 2 [Member] | Other [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 8 | 4 | ' |
Level 3 [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 274 | 246 | ' |
Level 3 [Member] | Common Stock [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Common collective trusts - fixed income [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Common collective trusts - equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Government securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Mutual funds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Corporate bonds [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Real estate partnerships [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 149 | 136 | 113 |
Level 3 [Member] | Private equity [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | 125 | 110 | 88 |
Level 3 [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Level 3 [Member] | Other [Member] | ' | ' | ' |
Changes in Plan Assets | ' | ' | ' |
Total plan assets at fair value | ' | ' | ' |
Benefit_Plans_Summary_of_Chang
Benefit Plans - Summary of Changes in Fair Value for Level 3 Investments (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at end of year | $2,261 | $2,031 | ' |
Real estate partnerships [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at end of year | 149 | 136 | ' |
Private equity [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at end of year | 125 | 110 | ' |
Level 3 [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Fair value of plan assets at end of year | 274 | 246 | ' |
Level 3 [Member] | Real estate partnerships [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Purchases | 22 | 15 | ' |
Sales | -26 | ' | ' |
Unrealized gains | 10 | 8 | ' |
Realized gains and losses | 7 | ' | ' |
Fair value of plan assets at end of year | 149 | 136 | 113 |
Level 3 [Member] | Private equity [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Purchases | 34 | 20 | ' |
Sales | -24 | -7 | ' |
Unrealized gains | 5 | 9 | ' |
Fair value of plan assets at end of year | $125 | $110 | $88 |
Benefit_Plans_Estimated_Future
Benefit Plans - Estimated Future Benefit Payments to be Paid from Company's Defined Benefit Pension Plans and Other Postretirement Benefit Plans (Detail) (USD $) | Feb. 22, 2014 |
In Millions, unless otherwise specified | |
Pension Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | $115 |
2016 | 122 |
2017 | 128 |
2018 | 137 |
2019 | 147 |
Years 2020-2024 | 851 |
Other Postretirement Benefits [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
2015 | 6 |
2016 | 7 |
2017 | 6 |
2018 | 6 |
2019 | 6 |
Years 2020-2024 | $31 |
Benefit_Plans_Schedule_of_Pens
Benefit Plans - Schedule of Pension Funds Contributions (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contribution to Pension Plans | $39 | $38 | $38 |
Minneapolis Food Distributing Industry Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '416047047 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--12-31 | ' | ' |
Pension Protection Act Zone Status | 'Green | 'Green | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 9 | 9 | 9 |
Surcharges Imposed | 'No | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
Central States, Southeast and Southwest Areas Pension Fund [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '366044243 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--12-31 | ' | ' |
Pension Protection Act Zone Status | 'Red | 'Red | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 8 | 9 | 9 |
Surcharges Imposed | 'No | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '410905139 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--02-28 | ' | ' |
Pension Protection Act Zone Status | 'Yellow | 'Yellow | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 8 | 8 | 7 |
Surcharges Imposed | 'No | ' | ' |
Amortization Provisions | 'No | ' | ' |
UFCW Unions and Participating Employers Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '526117495 | ' | ' |
Pension Plan Number | '002 | ' | ' |
Plan Month/ Day End Date | '--12-31 | ' | ' |
Pension Protection Act Zone Status | 'Red | 'Red | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 4 | 3 | 4 |
Surcharges Imposed | 'Yes | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
Western Conference of Teamsters Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '916145047 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--12-31 | ' | ' |
Pension Protection Act Zone Status | 'Green | 'Green | ' |
FIP/RP Status | 'No | ' | ' |
Contribution to Pension Plans | 3 | 2 | 3 |
Surcharges Imposed | 'No | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
UFCW Union Local 655 Food Employers Joint Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '436058365 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--12-31 | ' | ' |
Pension Protection Act Zone Status | 'Green | 'Red | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 2 | 2 | 2 |
Surcharges Imposed | 'Yes | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
UFCW Unions and Employers Pension Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
EIN | '396069053 | ' | ' |
Pension Plan Number | '001 | ' | ' |
Plan Month/ Day End Date | '--10-31 | ' | ' |
Pension Protection Act Zone Status | 'Red | 'Red | ' |
FIP/RP Status | 'Implemented | ' | ' |
Contribution to Pension Plans | 2 | 2 | 2 |
Surcharges Imposed | 'Yes | ' | ' |
Amortization Provisions | 'Yes | ' | ' |
All Other Multiemployer Pension Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Contribution to Pension Plans | $3 | $3 | $2 |
Benefit_Plans_Schedule_of_Pens1
Benefit Plans - Schedule of Pension Funds Contributions (Parenthetical) (Detail) | 12 Months Ended |
Feb. 22, 2014 | |
Minimum [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage representing PPA surcharges | 5.00% |
Maximum [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Percentage representing PPA surcharges | 10.00% |
Benefit_Plans_Schedule_of_Coll
Benefit Plans - Schedule of Collective Bargaining Agreement Dates and Contributions to Each Plant (Detail) | 12 Months Ended |
Feb. 22, 2014 | |
Agreement | |
Minneapolis Food Distributing Industry Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 1 |
Expiration Date Regarding Collective Bargaining Agreement | 31-May-15 |
Percentage of associates under collective bargaining agreement | 100.00% |
Over 5% Contribution | 'Yes |
Central States, Southeast and Southwest Areas Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 10 |
Expiration Date Regarding Collective Bargaining Agreement | 31-May-16 |
Percentage of associates under collective bargaining agreement | 28.30% |
Over 5% Contribution | 'No |
Minneapolis Retail Meat Cutters and Food Handlers Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 2 |
Expiration Date Regarding Collective Bargaining Agreement | 1-Mar-14 |
Percentage of associates under collective bargaining agreement | 96.50% |
Over 5% Contribution | 'Yes |
UFCW Unions and Participating Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 2 |
Expiration Date Regarding Collective Bargaining Agreement | 12-Jul-14 |
Percentage of associates under collective bargaining agreement | 68.20% |
Over 5% Contribution | 'Yes |
Western Conference of Teamsters Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 8 |
Expiration Date Regarding Collective Bargaining Agreement | 12-Jul-14 |
Percentage of associates under collective bargaining agreement | 42.00% |
Over 5% Contribution | 'No |
UFCW Union Local 655 Food Employers Joint Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 1 |
Expiration Date Regarding Collective Bargaining Agreement | 30-Mar-14 |
Percentage of associates under collective bargaining agreement | 100.00% |
Over 5% Contribution | 'Yes |
UFCW Unions and Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Total Collective Bargaining Agreements | 1 |
Expiration Date Regarding Collective Bargaining Agreement | 5-Apr-14 |
Percentage of associates under collective bargaining agreement | 100.00% |
Over 5% Contribution | 'Yes |
Minimum [Member] | Minneapolis Food Distributing Industry Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 1-Jun-13 |
Minimum [Member] | Central States, Southeast and Southwest Areas Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 13-Jun-09 |
Minimum [Member] | Minneapolis Retail Meat Cutters and Food Handlers Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 2-Mar-13 |
Minimum [Member] | UFCW Unions and Participating Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 8-Jul-12 |
Minimum [Member] | Western Conference of Teamsters Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 17-Apr-11 |
Minimum [Member] | UFCW Union Local 655 Food Employers Joint Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 17-May-10 |
Minimum [Member] | UFCW Unions and Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 7-Apr-13 |
Maximum [Member] | Minneapolis Food Distributing Industry Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 31-May-15 |
Maximum [Member] | Central States, Southeast and Southwest Areas Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 16-Jul-16 |
Maximum [Member] | Minneapolis Retail Meat Cutters and Food Handlers Pension Fund [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 1-Mar-14 |
Maximum [Member] | UFCW Unions and Participating Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 12-Jul-14 |
Maximum [Member] | Western Conference of Teamsters Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 22-Sep-16 |
Maximum [Member] | UFCW Union Local 655 Food Employers Joint Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 30-Mar-14 |
Maximum [Member] | UFCW Unions and Employers Pension Plan [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Range of Collective Bargaining Agreement Expiration Dates | 5-Apr-14 |
Recovered_Sheet8
Commitments, Contingencies and Off-Balance Sheet Arrangements - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Jan. 24, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 28, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 |
Retailer | 2015 [Member] | 2016 [Member] | 2017 [Member] | Minimum [Member] | Maximum [Member] | Subsequent Event [Member] | Subsequent Event [Member] | AB Acquisition [Member] | American Stores Inc [Member] | New Albertsons Inc [Member] | ||
NAI Banners [Member] | NAI Banners [Member] | |||||||||||
Guarantor Obligations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining terms for guarantees for other debt obligation minimum (less than given term in years) | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining terms for guarantees for other debt obligation maximum (in years) | '16 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining term for guarantee for other debt obligation weighted average (in years) | '9 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company's guarantee for debt obligations on outstanding indenture in connection with stock purchase agreement | $78 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $467 | $331 |
Guarantor obligation maximum exposure discounted | 57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 297 |
Cash depositions into escrow account | ' | 5 | ' | ' | ' | ' | ' | ' | ' | 467 | ' | ' |
Notes outstanding | ' | 467 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tendered notes | ' | 462 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cancelable future purchase obligations | 283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum contribution to company Retirement Plan | 450 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum required contributions to company retirement plan through the fiscal years | ' | ' | ' | ' | ' | '2015 | '2017 | ' | ' | ' | ' | ' |
Excess pension contributions required | ' | ' | 25 | 25 | 50 | ' | ' | ' | ' | ' | ' | ' |
Number of other retailers who have filed similar complaints in other jurisdictions | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation settlement charge before tax | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' |
Litigation settlement charge after tax | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' |
Settlement fund | ' | ' | ' | ' | ' | ' | ' | $5 | ' | ' | ' | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 12 Months Ended |
Feb. 22, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of retail operating segments | 3 |
Segment_Information_Net_Sales_
Segment Information - Net Sales of Retail Food and Independent Segment in Terms of Amounts and Percentage (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Nov. 30, 2013 | Sep. 07, 2013 | Feb. 23, 2013 | Dec. 01, 2012 | Sep. 08, 2012 | Jun. 15, 2013 | Jun. 16, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $3,953 | $4,012 | $3,948 | $3,899 | $4,051 | $3,939 | $5,242 | $5,250 | $17,155 | $17,139 | $17,383 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | 100.00% |
Independent Business [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 8,036 | 8,166 | 8,194 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 46.80% | 47.60% | 47.10% |
Independent Business [Member] | Nonperishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 6,000 | 6,140 | 6,222 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | 36.00% | 36.00% |
Independent Business [Member] | Perishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,951 | 1,935 | 1,880 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 11.00% | 11.00% |
Independent Business [Member] | Services to independent retail customers and other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 85 | 91 | 92 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' |
Save-A-Lot [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,228 | 4,195 | 4,221 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 24.60% | 24.50% | 24.30% |
Save-A-Lot [Member] | Nonperishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,829 | 2,865 | 2,925 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 17.00% | 17.00% | 17.00% |
Save-A-Lot [Member] | Perishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,399 | 1,330 | 1,296 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | 8.00% | 7.00% |
Retail Food [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,651 | 4,736 | 4,921 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 27.10% | 27.70% | 28.30% |
Retail Food [Member] | Nonperishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,600 | 2,689 | 2,820 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 16.00% | 17.00% |
Retail Food [Member] | Perishable grocery products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,463 | 1,428 | 1,461 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | 8.00% | 8.00% |
Retail Food [Member] | Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 30 | 30 | 31 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retail Food [Member] | Pharmacy products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 491 | 512 | 483 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.00% | 3.00% |
Retail Food [Member] | Fuel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 67 | 77 | 126 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% |
Corporate [Member] | Transition services revenues [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting, Revenue Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $240 | $42 | $47 |
% of total | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 0.20% | 0.30% |
Recovered_Sheet9
Discontinued Operations and Divestitures - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 | Feb. 22, 2014 | Feb. 25, 2012 | Feb. 25, 2012 |
New Albertsons Inc [Member] | Contracts [Member] | Property, Plant and Equipment [Member] | NAI Banners [Member] | NAI Banners [Member] | NAI Banners [Member] | NAI Banners [Member] | Transitional TSA [Member] | Transitional TSA [Member] | Transitional TSA [Member] | Transition Services Agreement [Member] | Fuel Centers [Member] | Fuel Centers [Member] | ||
Minimum [Member] | Maximum [Member] | Fiscal Year 2014 [Member] | Fuel_Center | Retail food [Member] | ||||||||||
Fuel_Center | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from divestiture of businesses | ' | ' | ' | ' | $100 | ' | ' | ' | ' | ' | ' | ' | $89 | ' |
Note receivable | ' | ' | ' | ' | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from assumed debt and capital leases | ' | ' | ' | ' | 3,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unfunded status estimated before tax | ' | ' | ' | ' | ' | 1,138 | ' | ' | ' | ' | ' | ' | ' | ' |
Initial terms of arrangements | ' | ' | ' | ' | ' | ' | '12 months | '5 years | ' | ' | ' | ' | ' | ' |
TSA fees recognized | ' | ' | ' | ' | ' | ' | ' | ' | 240 | 42 | 47 | ' | ' | ' |
Incremental fees under transitional TSA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60 | ' | ' |
Discontinued operation, gain (loss) from disposal of preliminary estimated pre-tax loss on contract | ' | 1,150 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued operation, gain (loss) from disposal of pre-tax property, plant and equipment related impairment | ' | 203 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on sale of NAI | ' | 1,263 | 1,081 | 182 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued operation, gain (loss) from disposal of discontinued operation, before income tax | 90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | ' |
Discrete tax benefits (expenses) | ' | ' | ' | ' | 105 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amounts of the inter company sales, which approximate related costs | ' | ' | ' | ' | 19 | 236 | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales with NAI post disposal | ' | ' | ' | ' | 209 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of fuel centers sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107 |
Number of discontinued operations fuel centers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 97 | ' |
Pre-tax loss presented as continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' |
Pre-tax loss presented as discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6 | ' |
Recovered_Sheet10
Discontinued Operations and Divestitures - Summary of Company's Operating Results and Certain Other Directly Attributable Expenses (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income (loss) from discontinued operations, net of tax | $176 | ($1,203) | ($930) |
NAI Banners [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Net sales | 1,235 | 17,230 | 18,764 |
Income (loss) before income taxes from discontinued operations | 121 | -1,238 | -876 |
Income tax (benefit) provision | -55 | -35 | 54 |
Income (loss) from discontinued operations, net of tax | $176 | ($1,203) | ($930) |
Discontinued_Operations_and_Di2
Discontinued Operations and Divestitures - Summary of Assets and Liabilities of Discontinued Operations (Detail) (USD $) | Feb. 23, 2013 | Feb. 25, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $77 | $93 |
Total current assets | 1,494 | ' |
Liabilities | ' | ' |
Total current liabilities of discontinued operations | 2,701 | ' |
NAI Banners [Member] | ' | ' |
Assets | ' | ' |
Cash and cash equivalents | 77 | ' |
Receivables, net | 215 | ' |
Inventories, net | 1,155 | ' |
Other current assets | 47 | ' |
Total current assets | 1,494 | ' |
Property, plant and equipment, net | 3,767 | ' |
Intangible assets, net | 555 | ' |
Other assets | 655 | ' |
Total assets | 6,471 | ' |
Liabilities | ' | ' |
Accounts payable | 652 | ' |
Accrued vacation, compensation and benefits | 217 | ' |
Current maturities of long-term debt and capital lease obligations | 212 | ' |
Accrued loss on contract | 1,140 | ' |
Other current liabilities | 480 | ' |
Total current liabilities of discontinued operations | 2,701 | ' |
Long-term debt and capital lease obligations | 2,832 | ' |
Pension and other postretirement benefit obligations | 109 | ' |
Other long-term liabilities | 850 | ' |
Total liabilities | 6,492 | ' |
Net liabilities of discontinued operations | ($21) | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 22, 2014 | 21-May-13 | Apr. 30, 2014 | Apr. 17, 2014 | Apr. 30, 2014 | Apr. 17, 2014 | Apr. 17, 2014 | Apr. 17, 2014 |
Revolving ABL Credit Facility [Member] | 2016 Senior Notes [Member] | 2016 Senior Notes [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Minimum [Member] | Maximum [Member] | |
Revolving ABL Credit Facility [Member] | Revolving ABL Credit Facility [Member] | Asset Backed Revolving Credit Amended Facility [Member] | 2016 Senior Notes [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||
Revolving ABL Credit Facility [Member] | Revolving ABL Credit Facility [Member] | ||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LIBOR Plus interest rate | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.00% |
Interest rate at the rate of ("Prime plus") | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% |
Maturity date of revolving credit facility | '90 days | ' | ' | ' | '90 days | ' | ' | ' | ' |
Maturity date | 'March 2018 | ' | ' | ' | 'March 2018 | ' | 'May 2016 | ' | ' |
Debt instrument, interest rate | ' | 8.00% | 8.00% | ' | ' | ' | 8.00% | ' | ' |
Aggregate principal amount outstanding | ' | ' | $372 | ' | ' | ' | $250 | ' | ' |
Maturity date description | ' | ' | ' | ' | ' | ' | 'Springing maturity provision that would have accelerated the maturity of the facility to 90 days prior to May 1, 2016 | ' | ' |
Aggregate principal amount | ' | ' | ' | $250 | ' | $500 | ' | ' | ' |
Revolving credit facility maturity period | ' | ' | ' | ' | ' | '30 days | ' | ' | ' |
UNAUDITED_QUARTERLY_FINANCIAL_2
UNAUDITED QUARTERLY FINANCIAL INFORMATION - Schedule of Quarterly Financial information (Detail) (USD $) | 3 Months Ended | 4 Months Ended | 12 Months Ended | ||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 22, 2014 | Nov. 30, 2013 | Sep. 07, 2013 | Feb. 23, 2013 | Dec. 01, 2012 | Sep. 08, 2012 | Jun. 15, 2013 | Jun. 16, 2012 | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $3,953 | $4,012 | $3,948 | $3,899 | $4,051 | $3,939 | $5,242 | $5,250 | $17,155 | $17,139 | $17,383 |
Gross profit | 590 | 569 | 577 | 557 | 530 | 529 | 796 | 720 | 2,532 | 2,336 | 2,457 |
Net (loss) earnings from continuing operations | 40 | 32 | 39 | -174 | -15 | -56 | -105 | -18 | 6 | -263 | -110 |
Net earnings | $26 | $31 | $40 | ($1,412) | $16 | ($111) | $85 | $41 | $182 | ($1,466) | ($1,040) |
Net (loss) earnings per share from continuing operations-diluted | $0.15 | $0.12 | $0.15 | ' | ' | ' | ($0.43) | ' | $0.02 | ($1.24) | ($0.52) |
Net loss per share from continuing operations-diluted | ' | ' | ' | ($0.82) | ($0.07) | ($0.26) | ' | ($0.08) | ' | ($1.24) | ' |
Net earnings (loss) per share-diluted | $0.10 | $0.12 | $0.15 | ($6.65) | $0.08 | ($0.52) | $0.34 | $0.19 | $0.70 | ($6.91) | ($4.91) |
Dividends declared per share | ' | ' | ' | ' | ' | ' | ' | $0.09 | ' | $0.09 | ' |
Weighted average shares-diluted | 261 | 262 | 261 | 212 | 214 | 212 | 250 | 214 | 258 | 212 | 212 |
UNAUDITED_QUARTERLY_FINANCIAL_3
UNAUDITED QUARTERLY FINANCIAL INFORMATION - Schedule of Quarterly Financial information (Parenthetical) (Detail) (USD $) | 12 Months Ended | |||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 23, 2013 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 | Feb. 22, 2014 |
Asset Impairment and Other Charges [Member] | Severance And Related Costs [Member] | Write Off Unamortized Financing Costs [Member] | Interest Expense Net and Store Closure Impairment Charges [Member] | Goodwill Impairment Charges [Member] | Offset Cash Settlement [Member] | Net Costs And Charges [Member] | Non-cash Unamortized Financing Costs And Original Issue Discount Acceleration [Member] | Debt Refinancing Costs [Member] | Severance Cost And Accelerated Stock Based Compensation Charges [Member] | Non Cash Asset Impairment And Other Charges [Member] | Contract Breakage And Other Costs [Member] | Legal Settlement Charge [Member] | Multi Employer Pension Withdrawal Charge [Member] | Gain On Sale Of Property [Member] | ||
Effect of Fourth Quarter Events [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net charges before tax | $303 | $227 | $36 | $22 | $22 | $6 | $10 | $235 | $99 | $75 | $46 | $16 | $6 | $5 | $3 | $15 |
Net charges after tax | $187 | $140 | $23 | $14 | $13 | $3 | $6 | $144 | $60 | $47 | $29 | $11 | $2 | $3 | $2 | $10 |
Net charges per diluted share | $0.88 | $0.66 | $0.10 | $0.07 | $0.06 | $0.02 | $0.03 | $0.56 | $0.24 | $0.18 | $0.11 | $0.04 | $0.01 | $0.01 | $0.01 | $0.04 |
Valuation_and_Qualifying_Accou1
Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Detail) (Allowance for Losses on Receivables [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Feb. 22, 2014 | Feb. 23, 2013 | Feb. 25, 2012 |
Allowance for Losses on Receivables [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Fiscal Year | $5 | $3 | $4 |
Additions | 16 | 11 | 6 |
Deductions | -12 | -9 | -7 |
Balance at End of Fiscal Year | $9 | $5 | $3 |