XML 21 R11.htm IDEA: XBRL DOCUMENT v3.23.3
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS
6 Months Ended
Sep. 09, 2023
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS LONG-TERM DEBT AND FINANCE LEASE OBLIGATIONS
The Company's long-term debt and finance lease obligations as of September 9, 2023 and February 25, 2023, net of unamortized debt discounts of $35.3 million and $37.5 million, respectively, and deferred financing costs of $47.6 million and $53.2 million, respectively, consisted of the following (in millions):
September 9,
2023
February 25,
2023
Senior Unsecured Notes due 2026 to 2030, interest rate range of 3.25% to 7.50%
$6,501.7 $6,496.4 
Safeway Inc. Notes due 2027 to 2031, interest rate range of 7.25% to 7.45%
375.2 374.9 
New Albertsons L.P. Notes due 2026 to 2031, interest rate range of 6.52% to 8.70%
478.3 476.2 
ABL Facility550.0 1,000.0 
Other financing obligations29.9 28.8 
Mortgage notes payable, secured16.5 16.7 
Finance lease obligations 498.0 517.1 
Total debt8,449.6 8,910.1 
Less current maturities(638.8)(1,075.7)
Long-term portion$7,810.8 $7,834.4 

ABL Facility

As of September 9, 2023, $550.0 million remained outstanding under the ABL Facility as the Company repaid $500.0 million and borrowed $50.0 million during the 28 weeks ended September 9, 2023, and letters of credit ("LOC") issued under the LOC sub-facility was $47.9 million. As of February 25, 2023, there was $1,000.0 million outstanding under the ABL Facility and LOC issued under the LOC sub-facility was $53.3 million. During the 12 and 28 weeks ended September 9, 2023, the average interest rate on the ABL Facility was approximately 6.7% and 6.4%, respectively.