XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.19.1

INCOME TAXES | 9 Months Ended
--- | ---
Apr. 27, 2019
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Effective Tax Rate Our effective income tax rate for continuing operations was (32.4)% compared to 33.3% on pre-tax income for the 13-week periods ended April 27, 2019 and April 28, 2018, respectively, and 22.8% and 20.3% for the 39-week periods ended April 27, 2019 and April 28, 2018, respectively. The decrease in the rate for the quarter was primarily driven by purchase accounting adjustments that impacted the goodwill impairment charge adjustment that was recorded in the quarter. The Company also realized the full benefit of the reduced federal income tax rate due to tax reform during the 39-week period ended April 27, 2019. The total (benefit) provision for income taxes included in the Condensed Consolidated Statements of Income consisted of the following:
|  | 13-Week Period Ended |  | 39-Week Period Ended
(in thousands) |  | April 27, 2019 |  | April 28, 2018 |  | April 27, 2019 |  | April 28, 2018
Continuing operations |  | $ | (8,027 | ) |  | $ | 25,943 |  |  | $ | (104,091 | ) |  | $ | 33,831 |
Discontinued operations |  | 7,772 |  |  | — |  |  | 13,759 |  |  | — |
Total |  | $ | (255 | ) |  | $ | 25,943 |  |  | $ | (90,332 | ) |  | $ | 33,831 |
Effects of the Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (“TCJA”) was enacted on December 22, 2017. Given the significance of the legislation, the Securities and Exchange Commission (“SEC”) staff issued SAB 118, which allowed registrants to record provisional or estimated amounts concerning TCJA impacts during a one year “measurement period” similar to that used when accounting for business combinations. The measurement period was deemed to end when the registrant has obtained, prepared and analyzed the information necessary to finalize its accounting. As of the current quarterly period, the Company has closed the measurement period relating to the effects of TCJA. The final amounts the Company has reported may change further only in the event of return to provision adjustments. Uncertain Tax Positions A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
| 39-Week Period Ended
(in thousands) | April 27, 2019
Unrecognized tax benefits at beginning of period | $ | 1,104 |
Unrecognized tax benefits assumed in a business combination | 49,566 |
Decreases in unrecognized tax benefits due to statute expiration | (10,033 | )
Unrecognized tax benefits at end of period | $ | 40,637 |
In addition, the Company has $14 million paid on deposit to various governmental agencies to cover the above liability. The Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. For the 13-week period ended April 27, 2019, total gross interest and penalties were $0.6 million. For the 39-week period ended April 27, 2019, total accrued interest and penalties was $15.1 million. The Company is currently under examination in several taxing jurisdictions and remains subject to examination until the statute of limitations expires for the respective taxing jurisdiction or an agreement is reached between the taxing jurisdiction and the Company. As of April 27, 2019, the Company is no longer subject to federal income tax examinations for fiscal years before 2015 and in most states is no longer subject to state income tax examinations for fiscal years before 2008 and 2014 for Supervalu and United Natural Foods, Inc., respectively. Based on the possibility of the closing of pending audits and appeals, or expiration of the statute of limitations, it is reasonably possible that the amount of unrecognized tax benefits will decrease by up to $1 million during the next 12 months. Other Under ASU 2016-09, the Company accounts for excess tax benefits or tax deficiencies related to share-based payments in its provision for income taxes as opposed to additional paid-in capital. The Company recognized $1.5 million of income tax expense related to excess tax deficiencies for share-based payments for the 39-week period ended April 27, 2019 and $0.9 million of income tax expense related to tax deficiencies for share-based payments for the 39-week period ended April 28, 2018.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration