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Interim Financial Results (Unaudited) (Tables)
 12 Months Ended
Mar. 02, 2019
Interim Financial Results (Unaudited)  
Schedule of interim financial results (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2019

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

 

    

Quarter(a)

    

Quarter(a)

    

Quarter

    

Quarter

    

Year

Revenues

    

$

5,388,490

 

$

5,421,362

 

$

5,450,060

 

$

5,379,645

 

$

21,639,557

Cost of revenues

 

 

4,219,741

 

 

4,260,211

 

 

4,267,972

 

 

4,215,281

 

 

16,963,205

Selling, general and administrative expenses

 

 

1,152,627

 

 

1,153,991

 

 

1,142,555

 

 

1,143,202

 

 

4,592,375

Lease termination and impairment charges

 

 

9,859

 

 

39,609

 

 

2,628

 

 

55,898

 

 

107,994

Goodwill and intangible asset impairment charges

 

 

—

 

 

375,190

 

 

 —

 

 

 —

 

 

375,190

Interest expense

 

 

62,792

 

 

56,233

 

 

56,008

 

 

52,695

 

 

227,728

Loss on debt retirements, net

 

 

 554

 

 

 —

 

 

 —

 

 

 —

 

 

 554

Gain on sale of assets, net

 

 

(5,859)

 

 

(4,965)

 

 

(382)

 

 

(26,806)

 

 

(38,012)

 

 

 

5,439,714

 

 

5,880,269

 

 

5,468,781

 

 

5,440,270

 

 

22,229,034

Loss from continuing operations before income taxes

 

 

(51,224)

 

 

(458,907)

 

 

(18,721)

 

 

(60,625)

 

 

(589,477)

Income tax (benefit) expense

 

 

(9,497)

 

 

(106,559)

 

 

(1,471)

 

 

195,004

 

 

77,477

Loss from continuing operations

 

 

(41,727)

 

 

(352,348)

 

 

(17,250)

 

 

(255,629)

 

 

(666,954)

Net income (loss) from discontinued operations, net of tax

 

 

256,143

 

 

(6,792)

 

 

12,740

 

 

(17,350)

 

 

244,741

Net income (loss)

 

 

214,416

 

 

(359,140)

 

 

(4,510)

 

 

(272,979)

 

 

(422,213)

Basic and diluted income (loss) per share(a):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.79)

 

$

(6.67)

 

$

(0.33)

 

$

(4.83)

 

$

(12.62)

Discontinued operations

 

$

4.86

 

$

(0.13)

 

$

0.24

 

$

(0.32)

 

$

4.63

Net basic and diluted income (loss) per share

 

$

4.07

 

$

(6.80)

 

$

(0.09)

 

$

(5.15)

 

$

(7.99)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year 2018

 

 

First

 

Second

 

Third

 

Fourth

 

 

 

 

    

Quarter

    

Quarter

    

Quarter

    

Quarter

    

Year

Revenues

 

$

5,436,523

 

$

5,345,011

 

$

5,353,170

 

$

5,394,264

 

$

21,528,968

Cost of revenues

 

 

4,274,580

 

 

4,183,338

 

 

4,166,447

 

 

4,124,498

 

 

16,748,863

Selling, general and administrative expenses

 

 

1,160,940

 

 

1,141,844

 

 

1,166,514

 

 

1,181,964

 

 

4,651,262

Lease termination and impairment charges

 

 

4,038

 

 

3,113

 

 

3,939

 

 

47,675

 

 

58,765

Goodwill impairment

 

 

 —

 

 

 —

 

 

 —

 

 

261,727

 

 

261,727

Interest expense

 

 

51,000

 

 

50,857

 

 

50,308

 

 

50,603

 

 

202,768

Walgreens Boots Alliance merger termination fee

 

 

 —

 

 

(325,000)

 

 

 —

 

 

 —

 

 

(325,000)

Loss (gain) on sale of assets, net

 

 

(5,877)

 

 

(14,951)

 

 

205

 

 

(5,249)

 

 

(25,872)

 

 

 

5,484,681

 

 

5,039,201

 

 

5,387,413

 

 

5,661,218

 

 

21,572,513

(Loss) income from continuing operations before income taxes

 

 

(48,158)

 

 

305,810

 

 

(34,243)

 

 

(266,954)

 

 

(43,545)

Income tax (benefit) expense

 

 

(12,121)

 

 

117,450

 

 

(16,061)

 

 

216,719

 

 

305,987

Net (loss) income from continuing operations

 

 

(36,037)

 

 

188,360

 

 

(18,182)

 

 

(483,673)

 

 

(349,532)

Net (loss) income from discontinued operations, net of tax

 

 

(39,312)

 

 

(17,644)

 

 

99,213

 

 

1,250,745

 

 

1,293,002

Net (loss) income

 

$

(75,349)

 

$

170,716

 

$

81,031

 

$

767,072

 

$

943,470

Basic (loss) income per share(a):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.69)

 

$

3.59

 

$

(0.35)

 

$

(9.18)

 

$

(6.66)

Discontinued operations

 

$

(0.75)

 

$

(0.33)

 

$

1.90

 

$

23.74

 

$

24.64

Net  basic (loss)  income per share

 

$

(1.44)

 

$

3.26

 

$

1.55

 

$

14.56

 

$

17.98

Diluted (loss) income per share(a):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.69)

 

$

3.53

 

$

(0.35)

 

$

(9.18)

 

$

(6.66)

Discontinued operations

 

$

(0.75)

 

$

(0.33)

 

$

1.90

 

$

23.74

 

$

24.64

Net diluted (loss) income per share

 

$

(1.44)

 

$

3.20

 

$

1.55

 

$

14.56

 

$

17.98

(a)

Income per share amounts for each quarter may not necessarily total to the yearly income per share due to the weighting of shares outstanding on a quarterly and year-to-date basis.