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Albertsons Companies, Inc. (ACI) SEC Filing 10-K Annual Report for the fiscal year ending Saturday, February 25, 2023

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Albertsons Companies, Inc.

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CIK: 1646972 Ticker: ACI

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Albertsons Companies, Inc. Reports Fourth Quarter and Full Year Results

Boise, ID - April 11, 2023
Albertsons Companies, Inc. (NYSE: ACI) (the "Company") today reported results for the fourth quarter of fiscal 2022 and full year fiscal 2022, which ended February 25, 2023.
Fourth Quarter of Fiscal 2022 Highlights
•Identical sales increased 5.6%
•Digital sales increased 16%
•Loyalty members increased 15% to over 34 million
•Net income of $311 million, or $0.54 per share
•Adjusted net income of $460 million, or $0.79 per share
•Adjusted EBITDA of $1,050 million
Fiscal 2022 Highlights
•Identical sales increased 6.9%
•Digital sales increased 28%
•Net income of $1,514 million, or $2.27 per share
•Adjusted net income of $1,965 million, or $3.37 per share
•Adjusted EBITDA of $4,677 million

"We are pleased with our fourth quarter financial results and the suite of capabilities we continue to build in our business," said Vivek Sankaran, CEO. "We want to thank all our teams for their commitment to bringing people together around the joys of food and inspiring well-being, and for serving our customers and communities."

Mr. Sankaran continued, "These results, and our results for fiscal 2022 overall, were fueled by the rollout of our Customers for Life transformation strategy, which places the customer at the center of everything we do, with the ultimate goal of supporting them every day, every week, and for a lifetime. Against this backdrop, throughout the year, we invested in the following initiatives: digitally connecting and engaging our customers through a frictionless omnichannel experience, differentiating our store experience, enhancing what we offer and where we offer it, modernizing our operational capabilities, and further embedding ESG throughout our operations."

"As we look ahead to fiscal 2023, we believe we are well-positioned to drive top-line growth by deepening relationships with our customers even as inflation continues. However, we also believe that the economic backdrop is uncertain and is likely to be more challenging later in the year. We have prepared our business for a more difficult consumer environment, and are expecting significant labor investments and inflationary cost increases. Additionally, we expect further declines in COVID-19 vaccination and at-home test kit revenue. These headwinds are expected to be partially offset by the ongoing growth in our core business and the benefits from the next phase of our productivity initiatives."


The following information was filed by Albertsons Companies, Inc. (ACI) on Tuesday, April 11, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Albertsons Companies, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Commitments And Contingencies And Off Balance Sheet Arrangements
Commitments And Contingencies And Off Balance Sheet Arrangements - Legal Contingencies (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Narrative (Details)
Derivative Financial Instruments - Schedule Of Derivative Instruments Designated As Cash Flow Hedges (Details)
Description Of Business, Basis Of Presentation And Summar Of Significant Accounting Policies - Equity-Based Compensation (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Cash And Cash Equivalents (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Company-Owned Life Insurance And Self-Insurance Liabilities (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Description Of Business (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Inventories (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Investments (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Leases (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Property And Equipment, Intangible Assets And Cloud Computing Arrangements (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Revenue Recognition And Costs Of Sales And Vendor Allowances (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Sales Revenue By Product Type (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Self-Insurance Liabilities (Details)
Description Of Business, Basis Of Presentation And Summary Of Significant Accounting Policies - Segments (Details)
Employee Benefit Plans And Collective Bargaining Agreements
Employee Benefit Plans And Collective Bargaining Agreements (Tables)
Employee Benefit Plans And Collective Bargaining Agreements - Narrative (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Accumulated Benefit Obligation In Excess Of Plan Assets (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Amounts Recognized In Accumulated Other Comprehensive Income (Loss) (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Assumptions Used (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Changes In Retirement Plan's Benefit Obligation And Fair Value Of Plan Assets (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Components Of Net Pension And Post-Retirement Expense (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Expected Future Benefit Payments (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Fair Value Of Plan Assets (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Multiemployer Plan (Details)
Employee Benefit Plans And Collective Bargaining Agreements - Schedule Of Plan Assets Allocation (Details)
Equity-Based Compensation
Equity-Based Compensation (Tables)
Equity-Based Compensation - Narrative (Details)
Equity-Based Compensation - Schedule Of Equity-Based Compensation Expense (Details)
Equity-Based Compensation - Schedule Of Rsu And Rsa Activity (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Narrative (Details)
Income Taxes - Schedule Of Components Of Income Tax Expense (Details)
Income Taxes - Schedule Of Deferred Tax Assets And Liabilities (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Schedule Of Unrecognized Tax Benefits (Details)
Income Taxes - Summary Of Valuation Allowance Activity (Details)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Narrative (Details)
Intangible Assets - Schedule Future Amortization Expense (Details)
Intangible Assets - Schedule Of Intangible Assets (Details)
Leases
Leases (Tables)
Leases - Narrative (Details)
Leases - Schedule Of Balance Sheet Information (Details)
Leases - Schedule Of Components Of Lease Expense And Supplemental Cash Flow Information (Details)
Leases - Schedule Of Future Minimum Lease Payments To Be Made (Details)
Leases - Supplemental Cash Flow Information (Details)
Long-Term Debt And Finance Lease Obligations
Long-Term Debt And Finance Lease Obligations (Tables)
Long-Term Debt And Finance Lease Obligations - Asset-Based Loan Facilities (Details)
Long-Term Debt And Finance Lease Obligations - Deferred Financing Costs And Interest Expense, Net (Details)
Long-Term Debt And Finance Lease Obligations - Schedule Of Future Maturities Of Long-Term Debt (Details)
Long-Term Debt And Finance Lease Obligations - Schedule Of Interest Expense (Details)
Long-Term Debt And Finance Lease Obligations - Schedule Of Long-Term Debt (Details)
Long-Term Debt And Finance Lease Obligations - Senior Unsecured, Safeway Notes And Nalp Notes (Details)
Mergers And Acquisitions
Mergers And Acquisitions - Narrative (Details)
Net Income Per Class A Common Share - Schedule Of Computation Of Basic And Diluted Net Income Per Share (Details)
Net Income Per Common Share
Net Income Per Common Share (Tables)
Net Income Per Common Share - Narrative (Details)
Other Comprehensive Income Or Loss
Other Comprehensive Income Or Loss (Details)
Other Comprehensive Income Or Loss (Tables)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Narrative (Details)
Property And Equipment - Schedule Of Property And Equipment (Details)
Related Parties
Related Parties - Narrative (Details)
Stockholders' Equity And Convertible Preferred Stock
Stockholders' Equity And Convertible Preferred Stock (Details)
Ticker: ACI
CIK: 1646972
Form Type: 10-K Annual Report
Accession Number: 0001646972-23-000045
Submitted to the SEC: Tue Apr 25 2023 4:10:00 PM EST
Accepted by the SEC: Tue Apr 25 2023
Period: Saturday, February 25, 2023
Industry: Retail Grocery Stores

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