CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)

12 Months Ended

Jan. 30, 2016

Organization Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Statements of Comprehensive Income

Condensed Consolidating Statements of Comprehensive Income

	Year ended January 30, 2016
				Guarantor			Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries			Subsidiaries			Adjustments			Company
Net sales	$	—		$	15,312.2		$	737.6		$	(551.4	)	$	15,498.4
Cost of sales	—			10,715.6			664.1			(538.0		)	10,841.7
Gross profit	—			4,596.6			73.5			(13.4		)	4,656.7
Selling, general and administrative expenses	48.4			3,505.5			62.5			(9.4		)	3,607.0
Operating (loss) income	(48.4		)	1,091.0			11.0			(4.0		)	1,049.7
Interest expense (income), net	464.4			139.1			(4.1		)	—			599.4
Other (income) expense, net	4.0			(0.2		)	2.3			(4.0		)	2.1
Income (loss) before income taxes	(516.8		)	952.2			12.8			—			448.2
Provision for income taxes	(213.3		)	361.6			17.5			—			165.8
Equity in earnings of subsidiaries	(585.9		)	(31.1		)	—			617.0			—
Net income (loss)	282.4			621.7			(4.7		)	(617.0		)	282.4
Other comprehensive loss	—			—			(9.0		)	—			(9.0		)
Comprehensive income	$	282.4		$	621.7		$	(13.7	)	$	(617.0	)	$	273.4

	Year ended January 31, 2015
				Guarantor		Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries		Subsidiaries			Adjustments			Company
Net sales	$	—		$	8,420.3	$	184.0		$	(2.1	)	$	8,602.2
Cost of sales	—			5,427.7		142.6			(2.1		)	5,568.2
Gross profit	—			2,992.6		41.4			—			3,034.0
Selling, general and administrative expenses	33.7			1,904.0		58.3			(2.2		)	1,993.8
Operating (loss) income	(33.7		)	1,088.6		(16.9		)	2.2			1,040.2
Interest expense (income), net	35.7			44.5		(0.1		)	—			80.1
Other (income) expense, net	(2.1		)	5.5		0.4			2.1			5.9
Income (loss) before income taxes	(67.3		)	1,038.6		(17.2		)	0.1			954.2
Provision for income taxes	(27.4		)	387.2		(4.8		)	—			355.0
Equity in earnings of subsidiaries	(639.1		)	—		—			639.1			—
Net income (loss)	599.2			651.4		(12.4		)	(639.0		)	599.2
Other comprehensive loss	—			—		(17.2		)	—			(17.2		)
Comprehensive income	$	599.2		$	651.4	$	(29.6	)	$	(639.0	)	$	582.0

	Year ended February 1, 2014
				Guarantor		Non-Guarantor			Consolidation			Consolidated
(in millions)	Parent			Subsidiaries		Subsidiaries			Adjustments			Company
Net sales	$	—		$	7,676.0	$	167.2		$	(2.9	)	$	7,840.3
Cost of sales	—			4,927.2		126.2			(2.9		)	5,050.5
Gross profit	—			2,748.8		41.0			—			2,789.8
Selling, general and administrative expenses	4.7			1,761.2		55.9			(2.3		)	1,819.5
Operating (loss) income	(4.7		)	987.6		(14.9		)	2.3			970.3
Interest (income) expense, net	(1.6		)	17.2		(0.2		)	—			15.4
Other (income) expense, net	(2.3		)	0.4		0.2			2.3			0.6
Income (loss) before income taxes	(0.8		)	970.0		(14.9		)	—			954.3
Provision for income taxes	(1.2		)	363.0		(4.2		)	—			357.6
Equity in earnings of subsidiaries	(596.3		)	—		—			596.3			—
Net income (loss)	596.7			607.0		(10.7		)	(596.3		)	596.7
Other comprehensive loss	—			—		(15.4		)	—			(15.4		)
Comprehensive income	$	596.7		$	607.0	$	(26.1	)	$	(596.3	)	$	581.3

Condensed Consolidated Balance Sheets

Condensed Consolidated Balance Sheets

	January 30, 2016
(in millions)	Parent		Guarantor  Subsidiaries		Non-Guarantor  Subsidiaries		Consolidating  Adjustments			Consolidated  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	1.1		308.7		0.6		—			310.3
Total current assets	263.2		4,343.9		358.9		(1,110.6		)	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	—		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	7,714.4		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

	January 31, 2015
(in millions)	Parent			Guarantor  Subsidiaries		Non-Guarantor  Subsidiaries		Consolidating  Adjustments			Consolidated  Company
ASSETS
Current assets:
Cash and cash equivalents	$	193.5		$	664.3	$	6.3	$	—		$	864.1
Merchandise inventories, net	—			997.2		38.5		—			1,035.7
Current deferred tax assets, net	3.1			25.1		0.1		—			28.3
Due from intercompany, net	38.6			0.6		—		(39.2		)	—
Other current assets	0.2			63.9		3.6		(1.2		)	66.5
Total current assets	235.4			1,751.1		48.5		(40.4		)	1,994.6
Property, plant and equipment, net	—			1,168.8		41.7		—			1,210.5
Goodwill	—			133.3		31.3		—			164.6
Deferred tax assets, net	0.7			14.7		15.1		—			30.6
Favorable lease rights, net	—			0.3		—		0.1			0.3
Other intangible assets, net	—			0.2		1.0		—			1.2
Investment in subsidiaries	1,214.5			—		—		(1,214.5		)	—
Intercompany note receivable	416.8			—		—		(416.8		)	—
Other assets	—			90.7		0.2		—			90.9
Total assets	$	1,867.4		$	3,159.1	$	137.8	$	(1,671.6	)	$	3,492.7
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	0.1			423.8		10.8		(1.1		)	433.6
Due to intercompany, net	0.6			38.6		—		(39.2		)	—
Other current liabilities	112.0			269.1		4.2		—			385.3
Income taxes payable	39.8			2.9		—		—			42.7
Total current liabilities	152.5			734.4		15.0		(40.3		)	861.6
Long-term debt, net, excluding current portion	(70.2		)	752.9		—		—			682.7
Intercompany note payable	—			416.8		—		(416.8		)	—
Other liabilities	—			155.0		8.3		0.1			163.4
Total liabilities	82.3			2,059.1		23.3		(457.0		)	1,707.7
Shareholders’ equity	1,785.1			1,100.0		114.5		(1,214.6		)	1,785.0
Total liabilities and equity	$	1,867.4		$	3,159.1	$	137.8	$	(1,671.6	)	$	3,492.7

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows

	Year ended January 30, 2016
(in millions)	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Company
Net cash provided by (used in) operating activities	$	743.5		$	720.8		$	(19.4	)	$	(664.0	)	$	780.9
Cash flows from investing activities:
Capital expenditures	—			(475.7		)	(4.8		)	—			(480.5		)
Acquisition of Family Dollar, net of cash acquired	(6,833.0		)	207.3			98.0			—			(6,527.7		)
Other	—			(7.5		)	37.3			—			29.8
Net cash provided by (used in) investing activities	(6,833.0		)	(275.9		)	130.5			—			(6,978.4		)
Cash flows from financing activities:
Proceeds from long-term debt, net of discount	12,130.2			—			—			—			12,130.2
Net intercompany note activity	(1,109.6		)	1,109.6			—			—			—
Principal payments for long-term debt	(4,991.5		)	(935.2		)	—			—			(5,926.7		)
Dividends paid	—			(646.7		)	—			646.7			—
Debt issuance costs	(159.8		)	—			—			—			(159.8		)
Other	26.7			—			—			—			26.7
Net cash provided by (used in) financing activities	5,896.0			(472.8		)	—			646.7			6,070.4
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.9		)	—			(0.9		)
Net (decrease) increase in cash and cash equivalents	(193.5		)	(27.4		)	110.2			(17.3		)	(128.0		)
Cash and cash equivalents at beginning of period	193.5			664.3			6.3			—			864.1
Cash and cash equivalents at end of period	$	—		$	636.9		$	116.5		$	(17.3	)	$	736.1

	Year ended January 31, 2015
(in millions)	Parent			Guarantor  Subsidiaries			Non- Guarantor  Subsidiaries			Consolidating  Adjustments			Consolidated  Company
Net cash provided by (used in) operating activities	$	23.9		$	911.9		$	(11.5	)	$	2.5		$	926.8
Cash flows from investing activities:
Capital expenditures	—			(312.2		)	(13.4		)	—			(325.6		)
Other	—			10.6			—			—			10.6
Net cash used in investing activities	—			(301.6		)	(13.4		)	—			(315.0		)
Cash flows from financing activities:
Debt issuance costs	(11.8		)	—			—			—			(11.8		)
Net intercompany note	8.2			(8.2		)	—			—			—
Principal payments for long-term debt	—			(12.8		)	—			—			(12.8		)
Other	10.0			2.5			—			(2.5		)	10.0
Net cash provided by (used in) financing activities	6.4			(18.5		)	—			(2.5		)	(14.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(0.8		)	—			(0.8		)
Net (decrease) increase in cash and cash equivalents	30.3			591.8			(25.7		)	—			596.4
Cash and cash equivalents at beginning of period	163.2			72.5			32.0			—			267.7
Cash and cash equivalents at end of period	$	193.5		$	664.3		$	6.3		$	—		$	864.1

	Year ended February 1, 2014
(in millions)	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Company
Net cash provided by (used in) operating activities	$	1,055.8		$	746.0		$	(9.4	)	$	(998.3	)	$	794.1
Cash flows from investing activities:
Capital expenditures	—			(308.5		)	(21.6		)	—			(330.1		)
Other	—			5.4			(0.4		)	0.1			5.1
Net cash used in investing activities	—			(303.1		)	(22.0		)	0.1			(325.0		)
Cash flows from financing activities:
Payments for share repurchases	(1,112.1		)	—			—			—			(1,112.1		)
Dividends paid	—			(998.2		)	—			998.2			—
Proceeds from long-term debt, net of discount	—			770.0			—			—			770.0
Net intercompany note	(57.6		)	57.6			—			—			—
Contribution (to) from affiliates	(43.7		)	—			43.7			—			—
Principal payments for long-term debt	—			(271.5		)	—			—			(271.5		)
Other	15.8			—			—			—			15.8
Net cash provided by (used in) financing activities	(1,197.6		)	(442.1		)	43.7			998.2			(597.8		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(3.5		)	—			(3.5		)
Net (decrease) increase in cash and cash equivalents	(141.8		)	0.8			8.8			—			(132.2		)
Cash and cash equivalents at beginning of period	305.0			71.7			23.2			—			399.9
Cash and cash equivalents at end of period	$	163.2		$	72.5		$	32.0		$	—		$	267.7