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QUARTERLY DATA (UNAUDITED) | 12 Months Ended
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Feb. 01, 2020
QUARTERLY DATA (UNAUDITED) |
QUARTERLY DATA (UNAUDITED) | ​
20. | QUARTERLY DATA (UNAUDITED)
​ The two tables that follow reflect the unaudited results of operations for 2019 and 2018. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter | ​ | ​ | ​ |
​ |  | First |  | Second |  | Third |  | Fourth |  | Total Year |
2019 | ​ | (16 Weeks) | ​ | ​ | (12 Weeks) | ​ | ​ | (12 Weeks) | ​ | ​ | (12 Weeks) | ​ | ​ | (52 Weeks) |
Sales | ​ | $ | 37,251 | ​ | $ | 28,168 | ​ | $ | 27,974 | ​ | $ | 28,893 | ​ | $ | 122,286 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below | ​ |  | 28,983 | ​ |  | 22,007 | ​ |  | 21,798 | ​ |  | 22,507 | ​ |  | 95,294 | ​
Operating, general and administrative | ​ |  | 6,314 | ​ |  | 4,811 | ​ |  | 5,097 | ​ |  | 4,985 | ​ |  | 21,208 | ​
Rent | ​ |  | 274 | ​ |  | 200 | ​ |  | 201 | ​ |  | 209 | ​ |  | 884 | ​
Depreciation and amortization | ​ |  | 779 | ​ |  | 591 | ​ |  | 624 | ​ |  | 655 | ​ |  | 2,649 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating profit | ​ |  | 901 | ​ |  | 559 | ​ |  | 254 | ​ |  | 537 | ​ |  | 2,251 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other income (expense) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (197) | ​ |  | (130) | ​ |  | (137) | ​ |  | (140) | ​ |  | (603) | ​
Non-service component of company sponsored pension plan costs | ​ | ​ | 3 | ​ | ​ | (4) | ​ | ​ | (1) | ​ | ​ | 2 | ​ | ​ | — | ​
Mark to market gain (loss) on Ocado securities | ​ | ​ | 106 | ​ | ​ | (45) | ​ | ​ | 106 | ​ | ​ | (9) | ​ | ​ | 157 | ​
Gain on sale of business | ​ | ​ | 176 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 176 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net earnings before income tax expense | ​ |  | 989 | ​ |  | 380 | ​ |  | 222 | ​ |  | 390 | ​ |  | 1,981 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense | ​ |  | 226 | ​ |  | 93 | ​ |  | 79 | ​ |  | 71 | ​ |  | 469 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net earnings including noncontrolling interests | ​ |  | 763 | ​ |  | 287 | ​ |  | 143 | ​ |  | 319 | ​ |  | 1,512 | ​
Net loss attributable to noncontrolling interests | ​ |  | (9) | ​ |  | (10) | ​ |  | (120) | ​ |  | (8) | ​ |  | (147) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net earnings attributable to The Kroger Co. | ​ | $ | 772 | ​ | $ | 297 | ​ | $ | 263 | ​ | $ | 327 | ​ | $ | 1,659 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net earnings attributable to The Kroger Co. per basic common share | ​ | $ | 0.96 | ​ | $ | 0.37 | ​ | $ | 0.32 | ​ | $ | 0.40 | ​ | $ | 2.05 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average number of shares used in basic calculation | ​ |  | 798 | ​ |  | 800 | ​ |  | 802 | ​ |  | 797 | ​ |  | 799 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net earnings attributable to The Kroger Co. per diluted common share | ​ | $ | 0.95 | ​ | $ | 0.37 | ​ | $ | 0.32 | ​ | $ | 0.40 | ​ | $ | 2.04 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average number of shares used in diluted calculation | ​ |  | 805 | ​ |  | 805 | ​ |  | 807 | ​ |  | 804 | ​ |  | 805 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends declared per common share | ​ | $ | 0.14 | ​ | $ | 0.16 | ​ | $ | 0.16 | ​ | $ | 0.16 | ​ | $ | 0.62 | ​
​ Annual amounts may not sum due to rounding. ​ Net earnings for the first quarter of 2019 include charges to OG&A expenses of $59, $44 net of tax, for obligations related to withdrawal liabilities for certain local unions of the Central States multi-employer pension fund and a reduction to OG&A of $24, $18 net of tax, for the revaluation of Home Chef contingent consideration. Gains in other income of $106, $80 net of tax, related to the sale of Turkey Hill Dairy; $70, $52 net of tax, related to the sale of You Technology; and $106, $80 net of tax, for the mark to market gain on Ocado Group plc (“Ocado”) securities. ​ Net earnings for the second quarter of 2019 include charges to OG&A of $27, $22 net of tax, for obligations related to withdrawal liabilities for a certain multi-employer pension fund and $2, $2 net of tax, for the revaluation of Home Chef contingent consideration. A charge in other income (expense) of $45, $36 net of tax, for the mark to market loss on Ocado securities. ​ Net earnings for the third quarter of 2019 include a charge to OG&A of $45, $35 net of tax, for obligations related to withdrawal liabilities for a certain multi-employer pension fund; $80, $61 net of tax, for a severance charge and related benefits; $238 including $131 attributable to the Kroger Co., $100 net of tax, for impairment of Lucky’s Market; and $4, $3 net of tax, for the revaluation of Home Chef contingent consideration. A gain in other income of $106, $81 net of tax, for the mark to market gain on Ocado securities. ​ Net earnings for the fourth quarter of 2019 include charges to OG&A of $4, $3 net of tax, for obligations related to withdrawal liabilities for certain multi-employer pension funds; $174, $125 net of tax, for deconsolidation and impairment of Lucky’s Market; $52, $37 net of tax, for transformation costs, primarily including 35 planned store closures; and a reduction to OG&A of $51, $36 net of tax, for the revaluation of Home Chef contingent consideration. Loss in other income (expense) of $9, $6 net of tax, for the mark to market loss on Ocado securities. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter | ​ | ​ | ​ |
​ |  | First |  | Second |  | Third |  | Fourth |  | Total Year |
2018 | ​ | (16 Weeks) | ​ | (12 Weeks) | ​ | (12 Weeks) | ​ | (12 Weeks) | ​ | (52 Weeks) |
Sales | ​ | $ | 37,722 | ​ | $ | 28,014 | ​ | $ | 27,831 | ​ | $ | 28,286 | ​ | $ | 121,852 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating Expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below | ​ |  | 29,419 | ​ |  | 21,976 | ​ |  | 21,753 | ​ |  | 21,955 | ​ |  | 95,103 | ​
Operating, general and administrative | ​ |  | 6,257 | ​ |  | 4,711 | ​ |  | 4,661 | ​ |  | 5,155 | ​ |  | 20,786 | ​
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.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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