NET INCOME PER CLASS A COMMON SHARE (Tables)

4 Months Ended

Jun. 19, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The components of basic and diluted net income per Class A common share were as follows (in millions, except per share data):

	16 weeks ended
	June 19, 2021		June 20, 2020
Basic net income per Class A common share
Net income	$	444.8	$	586.2
Accrued dividends on Convertible Preferred Stock	(36.4)		(3.9)
Earnings allocated to Convertible Preferred Stock	(36.2)		—
Net income allocated to Class A common stockholders - Basic	$	372.2	$	582.3
Weighted average Class A common shares outstanding - Basic (1)	465.1		568.0
Basic net income per Class A common share	$	0.80	$	1.03
Diluted net income per Class A common share
Net income allocated to Class A common stockholders - Basic	$	372.2	$	582.3
Accrued dividends on Convertible Preferred Stock	36.4		3.9
Earnings allocated to Convertible Preferred Stock	36.2		—
Net income allocated to Class A common stockholders - Diluted	$	444.8	$	586.2
Weighted average Class A common shares outstanding - Basic (1)	465.1		568.0
Dilutive effect of:
Restricted stock units and awards	4.7		4.8
Convertible preferred stock (2)	101.6		10.9
Weighted average Class A common shares outstanding - Diluted (3)	571.4		583.7
Diluted net income per Class A common share	$	0.78	$	1.00

(1) There were 20,048 Class A common shares remaining to be issued for the 16 weeks ended June 19, 2021 compared to no Class A common shares remaining to be issued for the 16 weeks ended June 20, 2020.

(2) Reflects the number of shares of Convertible Preferred Stock issued, if converted into common stock for the period outstanding.

(3) There were no potential Class A common shares outstanding that were antidilutive for the 16 weeks ended June 19, 2021 and June 20, 2020, respectively.