XML 18 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jan. 26, 2019
Jan. 27, 2018
Jan. 26, 2019
Jan. 27, 2018
Income Statement [Abstract]        
Net sales $ 6,149,206 [1] $ 2,528,011 $ 9,017,362 $ 4,985,556
Cost of sales 5,387,423 2,156,489 7,843,248 4,246,818
Gross profit 761,783 371,522 1,174,114 738,738
Operating expenses 751,922 320,076 1,115,087 632,185
Goodwill and asset impairment charges 370,871 11,242 370,871 11,242
Restructuring, acquisition, and integration related expenses 47,125 0 115,129 0
Operating (loss) income (408,135) 40,204 (426,973) 95,311
Other expense (income):        
Net periodic benefit income, excluding service cost (10,906) 0 (11,750) 0
Interest expense 58,707 4,137 66,232 7,713
Other, net (824) (418) (727) (1,281)
Total other expense, net 46,977 3,719 53,755 6,432
(Loss) income from continuing operations before income taxes (455,112) 36,485 (480,728) 88,879
(Benefit) provision for income taxes (91,809) (14,001) (96,064) 7,888
Net (loss) income from continuing operations (363,303)   (384,664) 80,991
Income from discontinued operations, net of tax 21,407 0 23,477 [2] 0
Net (loss) income including noncontrolling interests (341,896) 50,486 (361,187) 80,991
Less net loss (income) attributable to noncontrolling interests $ 171 $ 0 168 0
Net Income (Loss) Attributable to Parent     $ (361,019) $ 80,991
Basic per share data:        
Continuing operations (usd per share) $ (7.15) $ 1.00 $ (7.59) $ 1.60
Discontinued operations (usd per share) [3] 0.42 0.00 0.46 0.00
Basic (loss) earnings per share (usd per share) (6.72) 1.00 (7.12) 1.60
Diluted per share data:        
Continuing operations (usd per share) (7.15) 0.99 (7.59) 1.59
Discontinued operations (usd per share) [3] 0.42 0.00 0.46 0.00
Diluted (loss) earnings per share (usd per share) $ (6.72) $ 0.99 $ (7.12) $ 1.59
Weighted average share outstanding:        
Basic (shares) 50,815 50,449 50,699 50,633
Diluted (shares) [3] 50,815 50,741 50,699 50,849
[1] For the second quarter of fiscal 2019, the Company recorded $265.2 million within Net sales in its wholesale reportable segment attributable to discontinued operations inter-company product purchases from its Retail operating segment, which it expects will continue subsequent to the sale of certain retail banners.
[2] These results reflect retail operations from the Supervalu acquisition date of October 22, 2018 to January 26, 2019.
[3] The computation of diluted earnings per share from discontinued operations is calculated using diluted weighted average shares outstanding which includes the net effect of dilutive stock awards, or approximately 107 thousand shares for the 13-week period ended January 26, 2019 and 353 thousand shares for the 26-week period ended January 26, 2019.