Fair Value Measurements

4 Months Ended

Jan. 19, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements

The Company holds money market fund investments that are classified as cash equivalents that are measured at fair value on a recurring basis based on quoted prices in active markets for identical assets. The Company also holds available-for-sale securities generally consisting of state and local municipal obligations and variable rate demand notes which hold high credit ratings. These instruments are valued using a series of multi-dimensional relational models and series of matrices with standard inputs obtained from readily available pricing sources and other observable market data, such as benchmark yields and base spread.

The carrying amounts of accrued payroll, bonuses and other benefits due team members, and other accrued expenses approximate fair value because of their short maturities. Store closure reserves and estimated workers’ compensation claims are recorded at net present value to approximate fair value.

The Company held the following financial assets measured at fair value on a recurring basis based on the hierarchy levels indicated (in millions):

January 19, 2014	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Cash equivalents:
Money market fund	$	20	$	—	$	—	$	20
Commercial paper	—		93		—		93
Marketable securities - available-for-sale:
Commercial paper	—		110		—		110
Corporate bonds	—		5		—		5
Municipal bonds	—		941		—		941
Variable rate demand notes	—		17		—		17
Total	$	20	$	1,166	$	—	$	1,186

September 29, 2013	Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Cash equivalents:
Money market fund	$	73	$	—	$	—	$	73
Commercial paper	—		104		—		104
Municipal bonds	—		17		—		17
Marketable securities - available-for-sale:
Corporate bonds	—		5		—		5
Municipal bonds	—		1,010		—		1,010
Variable rate demand notes	—		20		—		20
Total	$	73	$	1,156	$	—	$	1,229