10-Q Filing

ALBERTSONS COMPANIES, INC. CIK: 1646972 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001646972-22-000055`
Period End Date	20220630
Filing Date	20220727
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	aci-20220618_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 38 Cash Flow Statement 68 Stockholders Equity 29

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.90B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.21B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$565.30M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$560.60M	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.57B	USD	Point-in-time
Inventories, net	`InventoryNet`	$4.50B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$326.60M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$403.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.68B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.37B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.07B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.35B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.91B	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$5.91B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.29B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.31B	USD	Point-in-time
Goodwill	`Goodwill`	$1.20B	USD	Point-in-time
Goodwill	`Goodwill`	$1.20B	USD	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockCommonShares`	99.64M	shares	Point-in-time
Treasury stock, at cost (in shares)	`TreasuryStockCommonShares`	58.78M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.05B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.01B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$28.22B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$28.12B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.24B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.97B	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$1.35B	USD	Point-in-time
Accrued salaries and wages	`AccruedSalariesCurrent`	$1.55B	USD	Point-in-time
Current maturities of long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$828.80M	USD	Point-in-time
Current maturities of long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$825.40M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$647.00M	USD	Point-in-time
Current maturities of operating lease obligations	`OperatingLeaseLiabilityCurrent`	$640.60M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.12B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.09B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.35B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.91B	USD	Point-in-time
Long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$7.12B	USD	Point-in-time
Long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$7.14B	USD	Point-in-time
Long-term operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$5.50B	USD	Point-in-time
Long-term operating lease obligations	`OperatingLeaseLiabilityNoncurrent`	$5.42B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$799.80M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$806.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.18B	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.12B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.03B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.00B	USD	Point-in-time
Treasury stock, at cost, 58,776,088 and 99,640,065 shares held as of June 18, 2022 and February 26, 2022, respectively	`TreasuryStockCommonValue`	$971.80M	USD	Point-in-time
Treasury stock, at cost, 58,776,088 and 99,640,065 shares held as of June 18, 2022 and February 26, 2022, respectively	`TreasuryStockCommonValue`	$1.65B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$69.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$66.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.97B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.56B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.70B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.07B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.02B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$28.12B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$28.22B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales and other revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$23.31B	USD	1 Quarter
Net sales and other revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$21.27B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$16.77B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$15.08B	USD	1 Quarter
Gross margin	`GrossProfit`	$6.54B	USD	1 Quarter
Gross margin	`GrossProfit`	$6.19B	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.50B	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.86B	USD	1 Quarter
(Gain) loss on property dispositions and impairment losses, net	`GainLossOnPropertyDispositionsAssetImpairmentAndExitCosts`	$79.40M	USD	1 Quarter
(Gain) loss on property dispositions and impairment losses, net	`GainLossOnPropertyDispositionsAssetImpairmentAndExitCosts`	$-300.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$760.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$687.10M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-138.90M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-153.30M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$43.50M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$6.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$627.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$577.30M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$143.30M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$132.50M	USD	1 Quarter
Net income	`NetIncomeLoss`	$444.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$484.20M	USD	1 Quarter
Recognition of pension gain	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-100.00K	USD	1 Quarter
Recognition of pension gain	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-200.00K	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	$-3.00M	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	-	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.80M	USD	1 Quarter
Other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$481.40M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$444.90M	USD	1 Quarter
Basic net income per class A common share (in dollars per share)	`EarningsPerShareBasic`	$0.86	USD	1 Quarter
Basic net income per class A common share (in dollars per share)	`EarningsPerShareBasic`	$0.80	USD	1 Quarter
Diluted net income per class A common share (in dollars per share)	`EarningsPerShareDiluted`	$0.84	USD	1 Quarter
Diluted net income per class A common share (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	465.10M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	513.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	571.40M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	576.30M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$444.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$484.20M	USD	1 Quarter
(Gain) loss on property dispositions and impairment losses, net	`GainLossOnPropertyDispositionsAssetImpairmentAndExitCosts`	$79.40M	USD	1 Quarter
(Gain) loss on property dispositions and impairment losses, net	`GainLossOnPropertyDispositionsAssetImpairmentAndExitCosts`	$-300.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$547.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$504.20M	USD	1 Quarter
Operating lease right-of-use assets amortization	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$198.80M	USD	1 Quarter
Operating lease right-of-use assets amortization	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$189.30M	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$14.50M	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$62.10M	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	$-17.90M	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxExpenseBenefit`	$2.80M	USD	1 Quarter
Contributions to pension and post-retirement benefit plans, net of (income) expense	`PensionAndOtherPostretirementBenefitContributions`	$14.50M	USD	1 Quarter
Contributions to pension and post-retirement benefit plans, net of (income) expense	`PensionAndOtherPostretirementBenefitContributions`	$9.50M	USD	1 Quarter
Gain on interest rate swaps and energy hedges, net	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$18.50M	USD	1 Quarter
Gain on interest rate swaps and energy hedges, net	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$6.30M	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$35.30M	USD	1 Quarter
Equity-based compensation expense	`ShareBasedCompensation`	$22.20M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$22.90M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-25.20M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$5.40M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$74.70M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-14.80M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$134.40M	USD	1 Quarter
Accounts payable, accrued salaries and wages and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-123.20M	USD	1 Quarter
Accounts payable, accrued salaries and wages and other accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-31.30M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-109.50M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-118.10M	USD	1 Quarter
Self-insurance assets and liabilities	`IncreaseDecreaseInSelfInsuranceReserve`	$27.50M	USD	1 Quarter
Self-insurance assets and liabilities	`IncreaseDecreaseInSelfInsuranceReserve`	$24.50M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-99.80M	USD	1 Quarter
Other operating assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-118.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.06B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$991.90M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$23.50M	USD	1 Quarter
Business acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Payments for property, equipment and intangibles, including payments for lease buyouts	`PaymentsToAcquireProductiveAssets`	$613.80M	USD	1 Quarter
Payments for property, equipment and intangibles, including payments for lease buyouts	`PaymentsToAcquireProductiveAssets`	$513.40M	USD	1 Quarter
Proceeds from sale of long-lived assets	`ProceedsFromSaleOfProductiveAssets`	$15.20M	USD	1 Quarter
Proceeds from sale of long-lived assets	`ProceedsFromSaleOfProductiveAssets`	$71.80M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$9.40M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-28.70M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-493.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-551.40M	USD	1 Quarter
Payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$300.00K	USD	1 Quarter
Payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$100.00K	USD	1 Quarter
Payments of obligations under finance leases	`FinanceLeasePrincipalPayments`	$13.10M	USD	1 Quarter
Payments of obligations under finance leases	`FinanceLeasePrincipalPayments`	$14.10M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$46.50M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$63.00M	USD	1 Quarter
Dividends paid on convertible preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$22.80M	USD	1 Quarter
Dividends paid on convertible preferred stock	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$29.50M	USD	1 Quarter
Employee tax withholding on vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$37.30M	USD	1 Quarter
Employee tax withholding on vesting of restricted stock units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.00M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.80M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$6.80M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-129.50M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-109.20M	USD	1 Quarter
Net increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$311.00M	USD	1 Quarter
Net increase in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$456.80M	USD	1 Quarter
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.77B	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22B	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.95B	USD	Point-in-time
Cash and cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.26B	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.77B	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.22B	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.95B	USD	Point-in-time
Cash and cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.26B	USD	Point-in-time

Stockholders Equity 29 line items

Line Item	Tag	Value	Unit	Period
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter
Dividends declared (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Beginning AOCI balance	`StockholdersEquity`	$1.70B	USD	Point-in-time
Beginning AOCI balance	`StockholdersEquity`	$1.32B	USD	Point-in-time
Beginning AOCI balance	`StockholdersEquity`	$4.07B	USD	Point-in-time
Beginning AOCI balance	`StockholdersEquity`	$3.02B	USD	Point-in-time
Treasury stock, beginning balance (in shares)	`TreasuryStockCommonShares`	99.64M	shares	Point-in-time
Treasury stock, beginning balance (in shares)	`TreasuryStockCommonShares`	58.78M	shares	Point-in-time
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$22.20M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$35.30M	USD	1 Quarter
Shares issued and employee tax withholding on vesting of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-37.30M	USD	1 Quarter
Shares issued and employee tax withholding on vesting of restricted stock units	`RestrictedStockValueSharesIssuedNetOfTaxWithholdings`	$-10.00M	USD	1 Quarter
Convertible preferred stock conversions	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$643.10M	USD	1 Quarter
Cash dividends declared on common stock	`DividendsCommonStock`	$46.50M	USD	1 Quarter
Cash dividends declared on common stock	`DividendsCommonStock`	$63.00M	USD	1 Quarter
Dividends accrued on convertible preferred stock	`DividendsPreferredStockStock`	$13.70M	USD	1 Quarter
Dividends accrued on convertible preferred stock	`DividendsPreferredStockStock`	$36.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$444.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$484.20M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$100.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-2.80M	USD	1 Quarter
Other activity	`StockholdersEquityOther`	$100.00K	USD	1 Quarter
Other activity	`StockholdersEquityOther`	$-200.00K	USD	1 Quarter
Ending AOCI balance	`StockholdersEquity`	$1.70B	USD	Point-in-time
Ending AOCI balance	`StockholdersEquity`	$1.32B	USD	Point-in-time
Ending AOCI balance	`StockholdersEquity`	$4.07B	USD	Point-in-time
Ending AOCI balance	`StockholdersEquity`	$3.02B	USD	Point-in-time
Treasury stock, ending balance (in shares)	`TreasuryStockCommonShares`	99.64M	shares	Point-in-time
Treasury stock, ending balance (in shares)	`TreasuryStockCommonShares`	58.78M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.