SEGMENT INFORMATION (Tables)

The following table presents segment information for Net sales and other revenue, significant segment expenses and Retail segment EBITDA (in millions):


	Fiscal 2025		Fiscal 2024		Fiscal 2023
Retail segment sales	$	82,359.4	$	79,633.2	$	78,494.4
Other revenue (1)	813.1		757.7		743.3
Net sales and other revenue	$	83,172.5	$	80,390.9	$	79,237.7

Retail segment expenses:
Merchandise costs, including advertising, distribution and freight	58,789.1		56,674.1		55,807.2
Employee costs (2)	12,218.8		11,734.9		11,411.5
Other segment expenses (3)	6,950.5		6,668.5		6,482.8
Retail segment EBITDA	$	4,401.0	$	4,555.7	$	4,792.9

Reconciliation to Income before income taxes:
Corporate adjustments (4)	(499.5)		(551.0)		(475.2)
Depreciation and amortization	(1,913.7)		(1,817.9)		(1,779.0)
Interest expense, net	(504.2)		(459.8)		(492.1)

Business transformation (5)	(153.7)		(105.2)		(45.1)
Equity-based compensation expense	(95.5)		(106.2)		(104.5)
Gain (loss) on property dispositions and impairment losses, net	12.2		(95.8)		(43.9)
LIFO expense	(66.0)		(28.6)		(52.0)
Merger-related costs (6)	(84.1)		(254.8)		(180.6)
Certain legal and regulatory accruals and settlements, net (7)	(802.9)		(6.1)		6.7
Miscellaneous adjustments (8)	(25.8)		(0.6)		(38.2)
Income before income taxes	$	267.8	$	1,129.7	$	1,589.0

(1) Primarily includes wholesale sales to third parties and other miscellaneous revenue not included in Retail segment sales.

(2) Includes wages, salaries, benefits, insurance and other employee-related costs.

(3) Primarily includes rent and occupancy costs, debit and credit card fees, supplies, divisional support costs and allocated corporate costs.

(4) Primarily includes bonus compensation, unallocated corporate costs and contribution from the Company's wholesale and other sales.

(5) Primarily includes costs associated with third-party consulting fees related to the Company's business transformation strategy and costs related to employee terminations.

(6) Fiscal 2025 primarily relates to litigation costs and retention program expense related to the terminated merger. Fiscal 2024 and fiscal 2023 primarily include third-party legal and advisor fees and retention program expense related to the merger.

(7) Includes the $773.8 million charge in the fourth quarter of fiscal 2025 related to the Opioid Settlement Framework. Refer to Note 12 for additional information.

(8) Primarily includes pension settlement gains and losses, adjustments for closed stores and surplus properties, net realized and unrealized gains and losses related to non-operating investments, non-cash rent expense, gains and losses on energy hedges and other items not allocated to the segment.