CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

9 Months Ended

Oct. 29, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Statement of Comprehensive Income

Condensed Consolidating Statements of Comprehensive Income

	13 Weeks Ended October 29, 2016
				Guarantor			Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net sales	$	—		$	4,931.4		$	223.3		$	(153.1	)	$	5,001.6
Cost of sales	—			3,427.3			153.2			(99.4		)	3,481.1
Gross profit	—			1,504.1			70.1			(53.7		)	1,520.5
Selling, general and administrative    expenses	2.0			1,160.2			65.2			(49.3		)	1,178.1
Operating income (loss)	(2.0		)	343.9			4.9			(4.4		)	342.4
Interest expense (income), net	96.9			17.2			(1.9		)	(0.1		)	112.1
Other (income) expense, net	4.6			(0.2		)	0.3			(4.6		)	0.1
Income (loss) before income taxes	(103.5		)	326.9			6.5			0.3			230.2
Income tax expense (benefit)	(53.1		)	111.0			0.8			(0.1		)	58.6
Equity in earnings of subsidiaries	(222.0		)	(2.7		)	—			224.7			—
Net income	171.6			218.6			5.7			(224.3		)	171.6
Other comprehensive loss	(2.5		)	(0.7		)	(2.5		)	3.3			(2.4		)
Comprehensive income	$	169.1		$	217.9		$	3.2		$	(221.0	)	$	169.2

	13 Weeks Ended October 31, 2015
				Guarantor			Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net sales	$	—		$	4,899.1		$	281.1		$	(235.0	)	$	4,945.2
Cost of sales	—			3,542.7			255.8			(253.3		)	3,545.2
Gross profit	—			1,356.4			25.3			18.3			1,400.0
Selling, general and administrative    expenses	17.5			1,146.6			16.2			(4.0		)	1,176.3
Operating income (loss)	(17.5		)	209.8			9.1			22.3			223.7
Interest expense (income), net	88.8			11.5			(1.8		)	(0.1		)	98.4
Other (income) expense, net	(3.7		)	1.0			(0.5		)	3.8			0.6
Income (loss) before income taxes	(102.6		)	197.3			11.4			18.6			124.7
Income tax expense (benefit)	(53.7		)	95.8			0.7			—			42.8
Equity in earnings of subsidiaries	(112.0		)	(13.5		)	—			125.5			—
Net income	63.1			115.0			10.7			(106.9		)	81.9
Other comprehensive income (loss)	(0.1		)	—			(0.1		)	0.3			0.1
Comprehensive income	$	63.0		$	115.0		$	10.6		$	(106.6	)	$	82.0

Condensed Consolidating Statements of Comprehensive Income (Continued)

	39 Weeks Ended October 29, 2016
				Guarantor			Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net sales	$	—		$	14,916.6		$	638.4		$	(471.3	)	$	15,083.7
Cost of sales	—			10,385.9			524.0			(413.6		)	10,496.3
Gross profit	—			4,530.7			114.4			(57.7		)	4,587.4
Selling, general and administrative    expenses	5.9			3,423.3			96.0			(56.1		)	3,469.1
Operating income (loss)	(5.9		)	1,107.4			18.4			(1.6		)	1,118.3
Interest expense (income), net	242.5			50.0			(5.7		)	(0.1		)	286.7
Other (income) expense, net	1.6			(0.5		)	0.5			(1.7		)	(0.1		)
Income (loss) before income taxes	(250.0		)	1,057.9			23.6			0.2			831.7
Income tax expense (benefit)	(117.2		)	369.9			4.6			—			257.3
Equity in earnings of subsidiaries	(707.1		)	(11.5		)	—			718.6			—
Net income	574.3			699.5			19.0			(718.4		)	574.4
Other comprehensive income	4.2			1.3			4.2			(5.5		)	4.2
Comprehensive income	$	578.5		$	700.8		$	23.2		$	(723.9	)	$	578.6

	39 Weeks Ended October 31, 2015
				Guarantor			Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net sales	$	—		$	9,998.5		$	464.5		$	(329.9	)	$	10,133.1
Cost of sales	—			7,058.6			397.8			(327.4		)	7,129.0
Gross profit	—			2,939.9			66.7			(2.5		)	3,004.1
Selling, general and administrative    expenses	46.9			2,335.1			44.6			(2.4		)	2,424.2
Operating income (loss)	(46.9		)	604.8			22.1			(0.1		)	579.9
Interest expense (income), net	358.5			128.3			(2.2		)	—			484.6
Other (income) expense, net	—			(0.7		)	0.3			—			(0.4		)
Income (loss) before income taxes	(405.4		)	477.2			24.0			(0.1		)	95.7
Income tax expense (benefit)	(160.5		)	198.2			4.6			—			42.3
Equity in earnings of subsidiaries	(298.2		)	(31.2		)	—			329.4			—
Net income	53.3			310.2			19.4			(329.5		)	53.4
Other comprehensive loss	(3.5		)	—			(3.5		)	3.5			(3.5		)
Comprehensive income	$	49.8		$	310.2		$	15.9		$	(326.0	)	$	49.9

Condensed Balance Sheet

Condensed Consolidating Balance Sheets

	October 29, 2016
			Guarantor			Non-Guarantor		Consolidating			Consolidated
(in millions)	Parent		Subsidiaries			Subsidiaries		Adjustments			Company
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	930.4		$	129.0	$	(325.6	)	$	733.8
Short-term investments	—		—			4.0		—			4.0
Merchandise inventories, net	—		3,222.3			47.4		4.2			3,273.9
Current deferred tax assets, net	—		(10.6		)	10.6		—			—
Due from intercompany, net	67.9		674.9			116.7		(859.5		)	—
Other current assets	117.3		209.3			5.7		(1.6		)	330.7
Total current assets	185.2		5,026.3			313.4		(1,182.5		)	4,342.4
Property, plant and equipment, net	—		3,143.5			32.8		—			3,176.3
Assets available for sale	—		11.6			—		—			11.6
Goodwill	—		4,993.1			29.8		—			5,022.9
Favorable lease rights, net	—		493.8			—		—			493.8
Tradename intangible asset	—		3,100.0			—		—			3,100.0
Other intangible assets, net	—		5.2			—		—			5.2
Investment in subsidiaries	9,107.7		102.1			—		(9,209.8		)	—
Intercompany note receivable	1,526.4		—			188.8		(1,715.2		)	—
Due from intercompany, net	1,699.1		—			—		(1,699.1		)	—
Other assets	—		42.4			4.0		(3.6		)	42.8
Total assets	$	12,518.4	$	16,918.0		$	568.8	$	(13,810.2	)	$	16,195.0
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	145.8	$	—		$	—	$	—		$	145.8
Accounts payable	325.7		1,211.7			52.1		(323.1		)	1,266.4
Due to intercompany, net	343.2		451.7			64.6		(859.5		)	—
Other current liabilities	28.8		485.6			207.6		—			722.0
Income taxes payable	3.5		(9.0		)	5.5		—			—
Total current liabilities	847.0		2,140.0			329.8		(1,182.6		)	2,134.2
Long-term debt, net, excluding    current portion	6,621.7		316.3			—		—			6,938.0
Unfavorable lease rights, net	—		130.2			—		—			130.2
Deferred tax liabilities, net	1.9		1,493.6			—		—			1,495.5
Income taxes payable, long-term	—		72.3			—		—			72.3
Due to intercompany, net	—		1,699.1			—		(1,699.1		)	—
Intercompany note payable	—		1,715.2			—		(1,715.2		)	—
Other liabilities	—		372.3			8.2		(3.4		)	377.1
Total liabilities	7,470.6		7,939.0			338.0		(4,600.3		)	11,147.3
Shareholders' equity	5,047.8		8,979.0			230.8		(9,209.9		)	5,047.7
Total liabilities and equity	$	12,518.4	$	16,918.0		$	568.8	$	(13,810.2	)	$	16,195.0

Condensed Consolidating Balance Sheets (Continued)

	January 30, 2016
			Guarantor		Non-Guarantor		Consolidating			Consolidated
(in millions)	Parent		Subsidiaries		Subsidiaries		Adjustments			Company
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	636.9	$	116.5	$	(17.3	)	$	736.1
Short-term investments	—		—		4.0		—			4.0
Merchandise inventories, net	—		2,850.0		51.4		(15.9		)	2,885.5
Due from intercompany, net	262.2		548.3		186.4		(996.9		)	—
Other current assets	1.0		308.7		0.6		—			310.3
Total current assets	263.2		4,343.9		358.9		(1,030.1		)	3,935.9
Property, plant and equipment, net	—		3,089.5		36.0		—			3,125.5
Assets available for sale	—		12.1		—		—			12.1
Goodwill	—		4,993.2		28.5		—			5,021.7
Deferred tax assets, net	0.5		—		9.6		(10.1		)	—
Favorable lease rights, net	—		569.4		—		—			569.4
Tradename intangible asset	—		3,100.0		—		—			3,100.0
Other intangible assets, net	—		5.5		0.3		—			5.8
Investment in subsidiaries	8,403.9		74.4		—		(8,478.3		)	—
Intercompany note receivable	1,526.4		—		188.8		(1,715.2		)	—
Due from intercompany, net	1,930.3		—		—		(1,930.3		)	—
Other assets	—		130.6		4.6		(4.4		)	130.8
Total assets	$	12,124.3	$	16,318.6	$	626.7	$	(13,168.4	)	$	15,901.2
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	108.0	$	—	$	—	$	—		$	108.0
Accounts payable	17.5		1,136.3		131.2		(33.1		)	1,251.9
Due to intercompany, net	582.5		369.2		45.2		(996.9		)	—
Other current liabilities	84.9		433.5		204.2		—			722.6
Income taxes payable	3.8		1.9		7.2		—			12.9
Total current liabilities	796.7		1,940.9		387.8		(1,030.0		)	2,095.4
Long-term debt, net, excluding    current portion	6,920.7		317.7		—		—			7,238.4
Unfavorable lease rights, net	—		149.3		—		—			149.3
Deferred tax liabilities, net	—		1,596.7		—		(10.1		)	1,586.6
Due to intercompany, net	—		1,930.3		—		(1,930.3		)	—
Intercompany note payable	—		1,715.2		—		(1,715.2		)	—
Other liabilities	—		421.0		8.0		(4.4		)	424.6
Total liabilities	7,717.4		8,071.1		395.8		(4,690.0		)	11,494.3
Shareholders' equity	4,406.9		8,247.5		230.9		(8,478.4		)	4,406.9
Total liabilities and equity	$	12,124.3	$	16,318.6	$	626.7	$	(13,168.4	)	$	15,901.2

Condensed Consolidating Balance Sheets (Continued)

	October 31, 2015
			Guarantor			Non-Guarantor			Consolidating			Consolidated
(in millions)	Parent		Subsidiaries			Subsidiaries			Adjustments			Company
ASSETS
Current assets:
Cash and cash equivalents	$	851.5	$	149.1		$	106.3		$	—		$	1,106.9
Short-term investments	—		—			4.0			—			4.0
Merchandise inventories, net	—		3,156.0			47.4			(18.1		)	3,185.3
Current deferred tax assets, net	0.1		86.3			10.2			—			96.6
Intercompany note receivable	17.1		—			—			(17.1		)	—
Due from intercompany, net	21.3		188.6			192.8			(402.7		)	—
Other current assets	39.4		224.9			(5.6		)	(23.5		)	235.2
Total current assets	929.4		3,804.9			355.1			(461.4		)	4,628.0
Property, plant and equipment, net	—		3,100.0			41.0			—			3,141.0
Assets available for sale	—		10.1			—			—			10.1
Goodwill	—		4,993.6			30.5			—			5,024.1
Deferred tax assets, net	0.8		—			19.2			(0.8		)	19.2
Favorable lease rights, net	—		595.0			—			—			595.0
Tradename intangible asset	—		3,100.0			—			—			3,100.0
Other intangible assets, net	—		5.6			0.5			—			6.1
Investment in subsidiaries	8,043.7		161.9			—			(8,205.6		)	—
Intercompany note receivable	1,482.8		—			188.8			(1,671.6		)	—
Due from intercompany, net	1,946.0		—			—			(1,946.0		)	—
Other assets	—		140.8			5.1			29.6			175.5
Total assets	$	12,402.7	$	15,911.9		$	640.2		$	(12,255.8	)	$	16,699.0
LIABILITIES AND EQUITY
Current liabilities:
Current portion of long-term debt	$	95.5	$	—		$	—		$	—		$	95.5
Accounts payable	3.3		1,179.4			94.6			(18.0		)	1,259.3
Due to intercompany, net	126.0		174.3			102.4			(402.7		)	—
Intercompany note payable	—		—			17.1			(17.1		)	—
Other current liabilities	25.0		575.6			150.9			33.8			785.3
Income taxes payable	81.1		(42.1		)	5.5			(23.4		)	21.1
Total current liabilities	330.9		1,887.2			370.5			(427.4		)	2,161.2
Long-term debt, net, excluding    current portion	7,929.8		318.2			—			—			8,248.0
Unfavorable lease rights, net	—		155.5			—			—			155.5
Deferred tax liabilities, net	—		1,635.5			—			(0.8		)	1,634.7
Income taxes payable, long-term	—		33.9			—			—			33.9
Due to intercompany, net	—		1,946.0			—			(1,946.0		)	—
Intercompany note payable	—		1,671.6			—			(1,671.6		)	—
Other liabilities	—		319.6			8.5			(4.6		)	323.5
Total liabilities	8,260.7		7,967.5			379.0			(4,050.4		)	12,556.8
Shareholders' equity	4,142.0		7,944.4			261.2			(8,205.4		)	4,142.2
Total liabilities and equity	$	12,402.7	$	15,911.9		$	640.2		$	(12,255.8	)	$	16,699.0

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows

	39 Weeks Ended October 29, 2016
				Guarantor			Non-Guarantor			Consolidating			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net cash provided by (used in) operating    activities	$	290.0		$	660.5		$	36.1		$	(331.3	)	$	655.3
Cash flows from investing activities:
Capital expenditures	—			(450.2		)	(1.3		)	—			(451.5		)
Purchase of restricted investments	—			(36.1		)	—			—			(36.1		)
Proceeds from sale of restricted    investments	—			118.1			—			—			118.1
Other	—			1.2			—			—			1.2
Net cash used in investing activities	—			(367.0		)	(1.3		)	—			(368.3		)
Cash flows from financing activities:
Principal payments for long-term debt	(3,258.5		)	—			—			—			(3,258.5		)
Proceeds from long-term debt, net of    discount	2,962.5			—			—			—			2,962.5
Repayments of revolving credit facility	(140.0		)	—			—			—			(140.0		)
Proceeds from revolving credit facility	140.0			—			—			—			140.0
Dividends paid	—			—			(23.0		)	23.0			—
Proceeds from stock issued pursuant to    stock-based compensation plans	33.3			—			—			—			33.3
Cash paid for taxes on exercises/vesting of    stock-based compensation	(21.2		)	—			—			—			(21.2		)
Other	(6.1		)	—			—			—			(6.1		)
Net cash provided by (used in)    financing activities	(290.0		)	—			(23.0		)	23.0			(290.0		)
Effect of exchange rate changes on cash and    cash equivalents	—			—			0.7			—			0.7
Net (decrease) increase in cash and cash    equivalents	—			293.5			12.5			(308.3		)	(2.3		)
Cash and cash equivalents at beginning of    period	—			636.9			116.5			(17.3		)	736.1
Cash and cash equivalents at end of period	$	—		$	930.4		$	129.0		$	(325.6	)	$	733.8

Condensed Consolidating Statements of Cash Flows (continued)

	39 Weeks Ended October 31, 2015
				Guarantor			Non-Guarantor			Consolidating			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net cash provided by (used in) operating    activities	$	489.9		$	68.2		$	(10.1	)	$	(577.0	)	$	(29.0	)
Cash flows from investing activities:
Capital expenditures	—			(332.2		)	(4.3		)	—			(336.5		)
Acquisition of Family Dollar, net of    common stock issued, equity    compensation and cash acquired	(6,832.9		)	207.4			97.8			—			(6,527.7		)
Other	—			(12.4		)	—			—			(12.4		)
Net cash provided by (used in)    investing activities	(6,832.9		)	(137.2		)	93.5			—			(6,876.6		)
Cash flows from financing activities:
Principal payments for long-term debt	(20.8		)	(935.2		)	—			—			(956.0		)
Proceeds from long-term debt, net of    discount	8,200.0			—			—			—			8,200.0
Net intercompany note activity	(1,083.1		)	1,066.0			17.1			—			—
Dividends paid	—			(577.0		)	—			577.0			—
Debt-issuance costs	(90.0		)	—			—			—			(90.0		)
Cash paid for taxes on exercises/vesting of    stock-based compensation	(21.5		)	—			—			—			(21.5		)
Other	16.4			—			—			—			16.4
Net cash provided by (used in)    financing activities	7,001.0			(446.2		)	17.1			577.0			7,148.9
Effect of exchange rate changes on cash and    cash equivalents	—			—			(0.5		)	—			(0.5		)
Net (decrease) increase in cash and cash    equivalents	658.0			(515.2		)	100.0			—			242.8
Cash and cash equivalents at beginning of    period	193.5			664.3			6.3			—			864.1
Cash and cash equivalents at end of period	$	851.5		$	149.1		$	106.3		$	—		$	1,106.9