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ACCOUNTING POLICIES (Policies) | 9 Months Ended
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Nov. 05, 2022
ACCOUNTING POLICIES |
Basis of Presentation and Principles of Consolidation | ​ Basis of Presentation and Principles of Consolidation ​ The accompanying financial statements include the consolidated accounts of The Kroger Co., its wholly-owned subsidiaries and other consolidated entities. The January 29, 2022 balance sheet was derived from audited financial statements and, due to its summary nature, does not include all disclosures required by generally accepted accounting principles (“GAAP”). Significant intercompany transactions and balances have been eliminated. References to the “Company” in these Consolidated Financial Statements mean the consolidated company. ​ In the opinion of management, the accompanying unaudited Consolidated Financial Statements include adjustments, all of which are of a normal, recurring nature that are necessary for a fair statement of results of operations for such periods but should not be considered as indicative of results for a full year. The financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted, pursuant to SEC regulations. Accordingly, the accompanying Consolidated Financial Statements should be read in conjunction with the financial statements in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2022. ​ The unaudited information in the Consolidated Financial Statements for the third quarters and three quarters ended November 5, 2022 and November 6, 2021 includes the results of operations of the Company for the 12 and 40 week periods then ended.
Fair Value Measurements | Fair Value Measurements ​ Fair value measurements are classified and disclosed in one of the following three categories: ​ Level 1 – Quoted prices are available in active markets for identical assets or liabilities; ​ Level 2 – Pricing inputs are other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable; ​ Level 3 – Unobservable pricing inputs in which little or no market activity exists, therefore requiring an entity to develop its own assumptions about the assumptions that market participants would use in pricing an asset or liability. ​ The Company records cash and temporary cash investments, store deposits in-transit, receivables, prepaid and other current assets, trade accounts payable, accrued salaries and wages and other current liabilities at approximated fair value. Certain other investments and derivatives are recorded as Level 1, 2 or 3 instruments. ​ The equity investment in Ocado is measured at fair value through net earnings. The fair value of all shares owned, which is measured using Level 1 inputs, was $332 and $987 as of November 5, 2022 and January 29, 2022, respectively, and is included in “Other assets” in the Company’s Consolidated Balance Sheets. An unrealized loss for this Ocado investment of approximately $655 and $694 for the first three quarters of 2022 and 2021, respectively, is included in “Loss on investments” in the Company’s Consolidated Statements of Operations. An unrealized loss of $225 and $94 for this Level 1 investment was recorded for the third quarters of 2022 and 2021, respectively, and is included in “Loss on investments” in the Company’s Consolidated Statements of Operations. ​ The Company's forward-starting interest rate swaps are considered a Level 2 instrument. The Company values interest rate hedges using observable forward yield curves. These forward yield curves are classified as Level 2 inputs. As of November 5, 2022, the fair value of the interest rate swaps was recorded in other assets and other long-term liabilities for $67 and $1, respectively, and accumulated other comprehensive income for $37 net of tax.

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- Definition Disclosure of accounting policy related to the basis of presentation and principles of consolidation. + References No definition available. + Details
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- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. + References No definition available. + Details
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