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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Feb. 26, 2022
Feb. 27, 2021
Feb. 29, 2020
Cash flows from operating activities:      
Net income $ 1,619.6 $ 850.2 $ 466.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on property dispositions and impairment losses, net (15.0) (38.8) (484.8)
Depreciation and amortization 1,681.3 1,536.9 1,691.3
Operating lease right-of-use assets amortization 623.9 581.5 570.3
LIFO expense 115.2 58.7 18.4
Deferred income tax 219.0 (112.3) (5.9)
Pension and post-retirement benefits income (54.7) (36.4) (2.0)
Contributions to pension and post-retirement benefit plans (29.8) (60.0) (11.0)
(Gain) loss on interest rate swaps and commodity hedges, net (22.8) 16.9 50.6
Deferred financing costs 23.4 20.9 39.8
Loss on debt extinguishment 3.7 85.3 111.4
Equity-based compensation expense 101.2 59.0 32.8
Other operating activities (77.0) (143.0) 2.5
Changes in operating assets and liabilities, net of effects of acquisition of businesses:      
Receivables, net (22.4) 0.4 60.8
Inventories, net (313.8) 9.2 (38.1)
Accounts payable, accrued salaries and wages and other accrued liabilities 679.5 787.4 85.3
Operating lease liabilities (604.6) (563.3) (584.4)
Pension withdrawal liabilities (131.0) 672.3 (62.3)
Self-insurance assets and liabilities 18.6 6.5 (4.0)
Other operating assets and liabilities (300.9) 171.1 (33.2)
Net cash provided by operating activities 3,513.4 3,902.5 1,903.9
Cash flows from investing activities:      
Business acquisitions, net of cash acquired (25.4) (97.9) 0.0
Proceeds from sale of assets 51.9 161.6 1,096.7
Other investing activities 41.1 (5.5) (0.1)
Net cash used in investing activities (1,538.9) (1,572.0) (378.5)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 0.0 4,094.0 3,874.0
Payments on long-term borrowings (330.9) (4,446.7) (5,676.6)
Payments of obligations under finance leases (78.0) (79.9) (109.3)
Payment of redemption premium on debt extinguishment (2.9) (71.6) 0.0
Payments for debt financing costs (11.0) (21.9) (53.2)
Dividends paid on common stock (207.4) (93.7) 0.0
Dividends paid on convertible preferred stock (114.6) (66.0) 0.0
Proceeds from convertible preferred stock 0.0 1,680.0 0.0
Third party issuance costs on convertible preferred stock 0.0 (80.9) 0.0
Treasury stock purchase, at cost 0.0 (1,881.2) 0.0
Employee tax withholding on vesting of restricted stock units (29.4) (14.1) (18.8)
Other financing activities (15.3) (59.8) (30.3)
Net cash used in financing activities (789.5) (1,041.8) (2,014.2)
Net increase (decrease) in cash and cash equivalents and restricted cash 1,185.0 1,288.7 (488.8)
Cash and cash equivalents and restricted cash at beginning of period 1,767.6 478.9 967.7
Cash and cash equivalents and restricted cash at end of period 2,952.6 1,767.6 478.9
Reconciliation of capital investments:      
Payments for property, equipment and intangibles, including payments for lease buyouts (1,606.5) (1,630.2) (1,475.1)
Lease buyouts 11.7 (13.0) 7.7
Total payments for capital investments, excluding lease buyouts (1,594.8) (1,643.2) (1,467.4)
Non-cash investing and financing activities were as follows:      
Additions of finance lease obligations, excluding business acquisitions 81.0 38.8 0.0
Purchases of property and equipment included in accounts payable 499.7 360.8 230.8
Interest and income taxes paid:      
Interest paid, net of amount capitalized 480.3 574.3 718.5
Income taxes paid $ 240.9 $ 366.2 $ 228.8