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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Feb. 24, 2024
Feb. 25, 2023
Feb. 26, 2022
Cash flows from operating activities:      
Net income $ 1,296.0 $ 1,513.5 $ 1,619.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on property dispositions and impairment losses, net 43.9 (147.5) (15.0)
Depreciation and amortization 1,779.0 1,807.1 1,681.3
Operating lease right-of-use assets amortization 665.2 652.7 623.9
LIFO expense 52.0 268.0 115.2
Deferred income tax (112.6) 12.9 219.0
Pension and post-retirement benefits income (2.9) (21.7) (54.7)
Contributions to pension and post-retirement benefit plans (18.3) (27.3) (29.8)
Gain on interest rate swaps and energy hedges, net (3.2) (8.4) (22.8)
Deferred financing costs 15.6 16.9 23.4
Loss on debt extinguishment 0.0 0.0 3.7
Equity-based compensation expense 104.5 138.3 101.2
Other operating activities 4.6 1.8 (77.0)
Changes in operating assets and liabilities, net of effects of acquisition of businesses:      
Receivables, net (36.3) (127.1) (22.4)
Inventories, net (215.3) (549.1) (313.8)
Accounts payable, accrued salaries and wages and other accrued liabilities 100.5 (164.2) 679.5
Operating lease liabilities (654.1) (637.7) (604.6)
Pension withdrawal liabilities (88.7) (103.4) (131.0)
Self-insurance assets and liabilities 30.6 56.2 18.6
Other operating assets and liabilities (301.0) 172.9 (300.9)
Net cash provided by operating activities 2,659.5 2,853.9 3,513.4
Cash flows from investing activities:      
Payments for property, equipment and intangibles, including payments for lease buyouts (2,031.3) (2,153.9) (1,606.5)
Proceeds from sale of assets 217.6 195.2 51.9
Business acquisitions, net of cash acquired 0.0 0.0 (25.4)
Other investing activities 67.0 (18.6) 41.1
Net cash used in investing activities (1,746.7) (1,977.3) (1,538.9)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt, including ABL facility 150.0 2,150.0 0.0
Payments on long-term borrowings, including ABL facility (950.8) (1,150.8) (330.9)
Payments of obligations under finance leases (69.3) (71.6) (78.0)
Special dividend paid 0.0 (3,916.9) 0.0
Dividends paid on common stock (276.2) (255.1) (207.4)
Dividends paid on convertible preferred stock (0.8) (65.3) (114.6)
Employee tax withholding on vesting of restricted stock units (38.8) (44.0) (29.4)
Other financing activities 2.5 (11.7) (29.2)
Net cash used in financing activities (1,183.4) (3,365.4) (789.5)
Net (decrease) increase in cash and cash equivalents and restricted cash (270.6) (2,488.8) 1,185.0
Cash and cash equivalents and restricted cash at beginning of period 463.8 2,952.6 1,767.6
Cash and cash equivalents and restricted cash at end of period 193.2 463.8 2,952.6
Reconciliation of capital investments:      
Payments for property, equipment and intangibles, including payments for lease buyouts (2,031.3) (2,153.9) (1,606.5)
Lease buyouts (5.3) (2.8) 11.7
Total payments for capital investments, excluding lease buyouts (2,036.6) (2,156.7) (1,594.8)
Non-cash investing and financing activities were as follows:      
Additions of finance lease obligations, excluding business acquisitions 21.6 23.3 81.0
Purchases of property and equipment included in accounts payable 246.8 333.5 499.7
Interest and income taxes paid:      
Interest paid, net of amount capitalized 484.2 395.3 480.3
Income taxes paid $ 405.4 $ 220.9 $ 240.9