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QUARTERLY DATA (UNAUDITED) | 12 Months Ended
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Feb. 02, 2019
QUARTERLY DATA (UNAUDITED) |
QUARTERLY DATA (UNAUDITED) | 21.QUARTERLY DATA (UNAUDITED) The two tables that follow reflect the unaudited results of operations for 2018 and 2017.
|  | Quarter |  |  |  |
|  | First |  | Second |  | Third |  | Fourth |  | Total Year |
2018 |  | (16 Weeks) |  |  | (12 Weeks) |  |  | (12 Weeks) |  |  | (12 Weeks) |  |  | (52 Weeks) |
Sales |  | $ | 37,530 |  | $ | 27,869 |  | $ | 27,672 |  | $ | 28,091 |  | $ | 121,162 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below |  |  | 29,362 |  |  | 21,930 |  |  | 21,699 |  |  | 21,902 |  |  | 94,894 |
Operating, general and administrative |  |  | 6,122 |  |  | 4,612 |  |  | 4,556 |  |  | 5,013 |  |  | 20,305 |
Rent |  |  | 276 |  |  | 204 |  |  | 200 |  |  | 204 |  |  | 884 |
Depreciation and amortization |  |  | 741 |  |  | 574 |  |  | 570 |  |  | 581 |  |  | 2,465 |
Operating profit |  |  | 1,029 |  |  | 549 |  |  | 647 |  |  | 391 |  |  | 2,614 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (192) |  |  | (144) |  |  | (142) |  |  | (142) |  |  | (620) |
Non-service component of company sponsored pension plan costs |  |  | (10) |  |  | (4) |  |  | (6) |  |  | (7) |  |  | (26) |
Mark to market gain (loss) on Ocado securities |  |  | 36 |  |  | 216 |  |  | (100) |  |  | 75 |  |  | 228 |
Gain on sale of business |  |  | 1,771 |  |  | 11 |  |  | — |  |  | — |  |  | 1,782 |
Net earnings before income tax expense |  |  | 2,634 |  |  | 628 |  |  | 399 |  |  | 317 |  |  | 3,978 |
Income tax expense |  |  | 616 |  |  | 127 |  |  | 91 |  |  | 66 |  |  | 900 |
Net earnings including noncontrolling interests |  |  | 2,018 |  |  | 501 |  |  | 308 |  |  | 251 |  |  | 3,078 |
Net loss attributable to noncontrolling interests |  |  | (8) |  |  | (7) |  |  | (9) |  |  | (8) |  |  | (32) |
Net earnings attributable to The Kroger Co. |  | $ | 2,026 |  | $ | 508 |  | $ | 317 |  | $ | 259 |  | $ | 3,110 |
Net earnings attributable to The Kroger Co. per basic common share |  | $ | 2.39 |  | $ | 0.63 |  | $ | 0.39 |  | $ | 0.32 |  | $ | 3.80 |
Average number of shares used in basic calculation |  |  | 839 |  |  | 797 |  |  | 797 |  |  | 798 |  |  | 810 |
Net earnings attributable to The Kroger Co. per diluted common share |  | $ | 2.37 |  | $ | 0.62 |  | $ | 0.39 |  | $ | 0.32 |  | $ | 3.76 |
Average number of shares used in diluted calculation |  |  | 846 |  |  | 805 |  |  | 807 |  |  | 806 |  |  | 818 |
Dividends declared per common share |  | $ | 0.125 |  | $ | 0.140 |  | $ | 0.140 |  | $ | 0.140 |  | $ | 0.545 |
Annual amounts may not sum due to rounding. Net earnings for the first quarter of 2018 include a reduction to OG&A expenses of $13, $10 net of tax, for adjustments to obligations related to certain local unions withdrawing from the Central States multi-employer pension fund, a reduction to depreciation and amortization expenses of $14, $11 net of tax, related to held for sale assets, gains in other income (expense) of $1,771, $1,352 net of tax, related to the sale of the convenience store business unit and $36, $27 net of tax, for the mark to market gain on Ocado securities. Net earnings for the second quarter of 2018 include gains in other income (expense) of $11, $8 net of tax, related to the sale of the convenience store business unit and $216, $164 net of tax, for the mark to market gain on Ocado securities. Net earnings for the third quarter of 2018 include a loss in other income (expense) of $100, $77 net of tax, for the mark to market loss on Ocado securities. Net earnings for the fourth quarter of 2018 include charges to OG&A expenses of $168, $131 net of tax, for obligations related to certain local unions withdrawing from the Central States multi-employer pension fund, $33, $26 net of tax, for the revaluation of contingent consideration and $42, $33 net of tax, for an impairment of financial instrument, a gain in other income (expense) of $75, $59 net of tax, for the mark to market gain on Ocado securities.
|  | Quarter |  |  |  |
|  | First |  | Second |  | Third |  | Fourth |  | Total Year |
2017 |  | (16 Weeks) |  | (12 Weeks) |  | (12 Weeks) |  | (13 Weeks) |  | (53 Weeks) |
Sales |  | $ | 36,285 |  | $ | 27,597 |  | $ | 27,749 |  | $ | 31,031 |  | $ | 122,662 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below |  |  | 28,281 |  |  | 21,609 |  |  | 21,532 |  |  | 24,240 |  |  | 95,662 |
Operating, general and administrative |  |  | 6,367 |  |  | 4,517 |  |  | 4,701 |  |  | 5,456 |  |  | 21,041 |
Rent |  |  | 270 |  |  | 225 |  |  | 196 |  |  | 220 |  |  | 911 |
Depreciation and amortization |  |  | 736 |  |  | 562 |  |  | 573 |  |  | 565 |  |  | 2,436 |
Operating profit |  |  | 631 |  |  | 684 |  |  | 747 |  |  | 550 |  |  | 2,612 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (177) |  |  | (138) |  |  | (136) |  |  | (148) |  |  | (601) |
Non-service component of company sponsored pension plan costs |  |  | (9) |  |  | (6) |  |  | (7) |  |  | (506) |  |  | (527) |
Net earnings (loss) before income tax (benefit) expense |  |  | 445 |  |  | 540 |  |  | 604 |  |  | (104) |  |  | 1,484 |
Income tax expense (benefit) |  |  | 148 |  |  | 189 |  |  | 215 |  |  | (957) |  |  | (405) |
Net earnings including noncontrolling interests |  |  | 297 |  |  | 351 |  |  | 389 |  |  | 853 |  |  | 1,889 |
Net loss attributable to noncontrolling interests |  |  | (6) |  |  | (2) |  |  | (8) |  |  | (1) |  |  | (18) |
Net earnings attributable to The Kroger Co. |  | $ | 303 |  | $ | 353 |  | $ | 397 |  | $ | 854 |  | $ | 1,907 |
Net earnings attributable to The Kroger Co. per basic common share |  | $ | 0.33 |  | $ | 0.39 |  | $ | 0.44 |  | $ | 0.97 |  | $ | 2.11 |
Average number of shares used in basic calculation |  |  | 914 |  |  | 897 |  |  | 887 |  |  | 875 |  |  | 895 |
Net earnings attributable to The Kroger Co. per diluted common share |  | $ | 0.32 |  | $ | 0.39 |  | $ | 0.44 |  | $ | 0.96 |  | $ | 2.09 |
Average number of shares used in diluted calculation |  |  | 925 |  |  | 905 |  |  | 893 |  |  | 884 |  |  | 904 |
Dividends declared per common share |  | $ | 0.120 |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.125 |  | $ | 0.495 |
Annual amounts may not sum due to rounding. Net earnings for the first quarter of 2017 include $199, $126 net of tax, related to the withdrawal liability for certain multi-employer pension funds and $184, $117 net of tax, related to the voluntary retirement offering. Net earnings for the fourth quarter of 2017 include charges to OG&A expenses of $351, $234 net of tax, related to obligations from withdrawing from and settlements of withdrawal liabilities for certain multi-employer pension funds, $110, $74 net of tax, related to the Kroger Specialty Pharmacy goodwill impairment and $502, $335 net of tax, related to a company-sponsored pension plan termination. Net earnings for the fourth quarter of 2017 include a reduction to depreciation and amortization expenses of $19, $13 net of tax, related to held for sale assets, a reduction to income tax expense of $922 primarily due to the re-measurement of deferred tax liabilities and the reduction of the statutory rate for the last five weeks of the fiscal year from the Tax Cuts and Jobs Act. In addition, net earnings include $119, $79 net of tax, due to a 53 rd week in fiscal year 2017.

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