Kroger Co. Files Q1 2024 10-Q: Financial Snapshot
Ticker: KR · Form: 10-Q · Filed: Jun 28, 2024 · CIK: 56873
Sentiment: neutral
Topics: 10-Q, financials, retail
TL;DR
Kroger's Q1 10-Q is in: Equity up, liabilities detailed. Solid financials.
AI Summary
Kroger Co. filed its 10-Q for the period ending May 25, 2024. The filing details financial performance and positions, including significant equity and retained earnings figures. Key financial statement components like treasury stock and noncontrolling interest are also reported, providing a snapshot of the company's financial health during the quarter.
Why It Matters
This filing provides investors with a detailed look at Kroger's financial standing, including changes in equity and liabilities, which can influence investment decisions and stock performance.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks disclosed.
Key Numbers
- 20240525 — Reporting Period End Date (Marks the end of the fiscal quarter covered by the report.)
- 20240628 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
- 0000056873 — Central Index Key (Unique identifier for Kroger Co. in SEC filings.)
Key Players & Entities
- KROGER CO (company) — Filer of the 10-Q
- 20240525 (date) — End of the reporting period
- 0000056873 (company) — Central Index Key for Kroger Co.
- OH (location) — State of incorporation and business address
- 5137624000 (dollar_amount) — Business phone number
FAQ
What was Kroger's total equity as of May 25, 2024?
The filing indicates various equity components such as Treasury Stock, Retained Earnings, Noncontrolling Interest, and Additional Paid-In Capital as of May 25, 2024, but a single total equity figure is not explicitly stated in the provided snippet.
What is the significance of the 'Noncontrolling Interest' mentioned in the filing?
Noncontrolling Interest represents the portion of equity in a subsidiary that is not attributable to the parent company (Kroger Co.), as seen in the balances reported for May 25, 2024, and other dates.
What does 'Treasury Stock Common Member' refer to?
Treasury Stock Common Member refers to shares of Kroger's own common stock that the company has repurchased, as indicated by the balances reported for May 25, 2024, and other dates.
When was the previous fiscal year's comparable period reported?
The filing references data points from May 20, 2023, and January 29, 2023, indicating these are comparable periods from the prior fiscal year.
What is the company's primary industry classification?
Kroger Co. is classified under 'RETAIL-GROCERY STORES' with the Standard Industrial Classification code [5411].
Filing Stats: 4,834 words · 19 min read · ~16 pages · Grade level 17.3 · Accepted 2024-06-28 16:16:18
Key Financial Figures
- $1.00 — h exchange on which registered Common, $1.00 Par Value KR New York Stock Exchang
Filing Documents
- kr-20240525x10q.htm (10-Q) — 1743KB
- kr-20240525xex31d1.htm (EX-31.1) — 14KB
- kr-20240525xex31d2.htm (EX-31.2) — 14KB
- kr-20240525xex32d1.htm (EX-32.1) — 9KB
- kr-20240525x10q004.jpg (GRAPHIC) — 3KB
- 0001558370-24-009615.txt ( ) — 5976KB
- kr-20240525.xsd (EX-101.SCH) — 38KB
- kr-20240525_cal.xml (EX-101.CAL) — 68KB
- kr-20240525_def.xml (EX-101.DEF) — 157KB
- kr-20240525_lab.xml (EX-101.LAB) — 386KB
- kr-20240525_pre.xml (EX-101.PRE) — 251KB
- kr-20240525x10q_htm.xml (XML) — 791KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements. THE KROGER CO. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) First Quarter Ended May 25, May 20, (In millions, except per share amounts) 2024 2023 Sales $ 45,269 $ 45,165 Operating expenses Merchandise costs, including advertising, warehousing, and transportation, excluding items shown separately below 35,124 35,080 Operating, general and administrative 7,604 7,393 Rent 269 265 Depreciation and amortization 978 957 Operating profit 1,294 1,470 Other income (expense) Interest expense ( 123 ) ( 153 ) Non-service component of company-sponsored pension plan benefits 4 9 Gain (loss) on investments 16 ( 78 ) Net earnings before income tax expense 1,191 1,248 Income tax expense 235 286 Net earnings including noncontrolling interests 956 962 Net income attributable to noncontrolling interests 9 — Net earnings attributable to The Kroger Co. $ 947 $ 962 Net earnings attributable to The Kroger Co. per basic common share $ 1.30 $ 1.33 Average number of common shares used in basic calculation 721 717 Net earnings attributable to The Kroger Co. per diluted common share $ 1.29 $ 1.32 Average number of common shares used in diluted calculation 727 724 The accompanying notes are an integral part of the Consolidated Financial Statements. 2 THE KROGER CO. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) First Quarter Ended May 25, May 20, (In millions) 2024 2023 Net earnings including noncontrolling interests $ 956 $ 962 Other comprehensive (loss) income Change in pension and other postretirement defined benefit plans, net of income tax (1) ( 2 ) ( 4 ) Unrealized gains and losses on cash flow hedging activities, net of income tax (2) 70 91 Amortization of unrealized gains and losses on cash flow hedging activities, net of income tax (3) 2 1 Total other comprehensive income 70 88 Comprehen