# EDGAR Filing Document

**Accession Number:** 0000056873
**File Stem:** 0001104659-25-059269
**Filing Date:** 2025-6
**Character Count:** 30508
**Document Hash:** 2c2cf5bddae28a58c04f1dff906c46cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-059269.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0001104659-25-059269

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KROGER CO
- **CENTRAL INDEX KEY:** 0000056873
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-GROCERY STORES [5411]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 310345740
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0201

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-00303
- **FILM NUMBER:** 251045701

**BUSINESS ADDRESS:**
- **STREET 1:** 1014 VINE ST
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45201
- **BUSINESS PHONE:** 5137624437

**MAIL ADDRESS:**
- **STREET 1:** 1014 VINE ST
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45201

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 11-K**

⌧ **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the fiscal year ended December 31, 2024**

**OR**

□ **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** 

**For the transition period from to**

**Commission file number 1-303**

**The Kroger Co. Savings Plan**

**1014 Vine Street**

**Cincinnati, OH 45202**

(Full title of the plan and the address of the plan)

**The Kroger Co.**

**1014 Vine Street**

**Cincinnati, OH 45202**

(Name of issuer of the securities held pursuant to the

plan and the address of its principal executive office)

**REQUIRED INFORMATION**

Item 4. Plan Financial Statements and Schedules Prepared in Accordance with the Financial Reporting Requirements of ERISA.

**The kroger co. savings plan**

**Financial Statements** 

**August 26, 2024 and December 31, 2023**

**With**

**Report of Independent Registered**

**Public Accounting Firm**

**The kroger co. savings plan**

<u>**Table of Contents**</u>

---

| | | |
|:---|:---|:---|
|  | <u>Page</u> | <u>Page</u> |
| Report of Independent Registered Public Accounting Firm |  | 1 |
| Financial Statements: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets Available for Benefits |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in Net Assets Available for Benefits |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to Financial Statements |  | 4 - 12 |

---

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To Participants and The Kroger Co. Retirement Benefit Plan Management Committee of

The Kroger Co. Savings Plan:

**Opinion on the Financial Statements** 

We have audited the accompanying statements of net assets available for benefits of The Kroger Co. Savings Plan (the Plan) as of August 26, 2024 and December 31, 2023, and the related statements of changes in net assets available for benefits for the period from January 1, 2024 to August 26, 2024 and the year ended December 31, 2023, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of August 26, 2024 and December 31, 2023, and the changes in net assets available for benefits for the period from January 1, 2024 to August 26, 2024 and the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

**Basis for Opinion** 

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Clark, Schaefer, Hackett & Co.

We have served as the Plan's auditor since 2003.

<br> Cincinnati, Ohio

June 13, 2025

**THE KROGER CO. SAVINGS PLAN**

Statements of Net Assets Available for Benefits

August 26, 2024 and December 31, 2023

(In Thousands)

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest in Master Trust | $- | $1820376 |
| &nbsp;&nbsp;&nbsp;Investments, at contract value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest in Master Trust |  | 437025 |
| &nbsp;&nbsp;&nbsp;Receivables: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes receivable from participants | - | 42190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | - | 2299591 |
| Liabilities: |  |  |
| &nbsp;&nbsp;Administrative fees payable | - | 5 |
| Net assets available for benefits | $- | $2299586 |

---

See accompanying notes to financial statements.

**THE KROGER CO. SAVINGS PLAN**

Statements of Changes in Net Assets Available for Benefits

For the period from January 1, 2024 through August 26, 2024

and for the year ended December 31, 2023

(In Thousands)

---

| | | |
|:---|:---|:---|
|  | **2024** | **2023** |
| Additions: |  |  |
| &nbsp;&nbsp;&nbsp;Participant contributions | $67375 | $103125 |
| &nbsp;&nbsp;&nbsp;Investment income – participation in Master Trust | 212711 | 218120 |
| &nbsp;&nbsp;&nbsp;Interest income on notes receivable from participants | 1802 | 2047 |
| Deductions: |  |  |
| &nbsp;&nbsp;&nbsp;Benefits paid to participants | (228893) | (247496) |
| &nbsp;&nbsp;&nbsp;Administrative expenses | (2198) | (2455) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change | 50797 | 73341 |
| Net assets available for benefits: |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 2299586 | 2226245 |
| &nbsp;&nbsp;&nbsp;Transfers to The Kroger Co. 401(k) Retirement Savings Account Plan | (2350383) | - |
| &nbsp;&nbsp;&nbsp;End of year | $- | $2299586 |

---

See accompanying notes to financial statements.

**THE KROGER CO. SAVINGS PLAN**

Notes to Financial Statements

(All dollar amounts are in thousands)

1. <u>Description of Plan</u>:

The following description of The Kroger Co. Savings Plan (Plan) provides only general information. Participants should refer to the Plan document for a more complete description of Plan provisions.

<u>Plan Merger</u>

On August 26, 2024, the Plan merged into The Kroger Co. 401(k) Retirement Savings Account Plan. An aggregate of $2,350,383 was transferred out of the Plan during the period ended August 26, 2024, and is included on the 2024 statements of changes in net assets available for benefits. As of the date of the merger, the Plan no longer had an interest in The Kroger Defined Contribution Plan Master Trust. The following disclosures apply to the Plan prior to the date of the merger.

<u>General</u>

The Plan is sponsored by The Kroger Co., an Ohio corporation (the Company). The Plan is a defined contribution plan. Employees of the Company and its participating wholly owned subsidiaries who have attained age 18 and completed 30 days of service, excluding those employees eligible to participate under another company sponsored retirement plan, are eligible to participate in the Plan. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

<u>Contributions</u>

Subject to certain limits, participants may contribute up to 75% of compensation per pay period to the Plan. The percentage of compensation for the Plan year may be limited for certain highly compensated employees. It is at the discretion of participants to modify and direct investments. Participants are eligible to make catch-up contributions beginning in the year in which they reach age 50. Participants are also permitted to deposit into the Plan distributions from other qualified plans. The Plan allows for Roth 401(k) contributions in addition to pre-tax contributions.

<u>Participant Accounts</u>

Each participant account is credited with the participant contribution, Company match contribution (if any), and an allocation of Plan earnings or losses. Allocations of earnings or losses are based upon the performance of the investment funds chosen by the participant. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

<u>Vesting</u>

All accounts of a participant are fully vested at all times.

<u>Benefits</u>

Payment of benefits can be made under various methods, depending upon the reason for the distribution, such as termination of service, death, or retirement, as well as other factors. At termination, those participants with a balance of less than or equal to one thousand dollars will receive a single lump sum distribution. Absent specific elections by the participant, those with balances greater than one thousand dollars and less than or equal to seven thousand dollars shall be distributed, in the form of a direct rollover, to an individual retirement account designated by the Plan Administrator. Those with balances greater than seven thousand dollars may elect to leave their funds in the Plan or choose other options. Participants are entitled to benefits beginning at normal retirement age (generally age 65). Benefits are recorded when paid.

<u>Notes Receivable from Participants</u>

The Plan permits participants to borrow from their vested account. The maximum amount that may be borrowed is the lesser of fifty thousand dollars or 50% of the vested balance of the account. Loan terms range from 1-4 years or up to 6 years for the purchase of a primary residence. The loans are collateralized by the balance in the participant's account and bear interest at a rate of Prime plus 1.0%. The rate is changed quarterly, and the Prime rate used for a quarter is the Prime rate on the last business day of the previous quarter. Principal and interest are paid through periodic payroll deductions.

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. No allowance for credit losses has been recorded as of August 26, 2024 and December 31, 2023. If a participant ceases to make loan repayments and the Plan Administrator deems the participant loan to be in default, the participant loan balance is reduced, and a benefit payment is recorded.

<u>Forfeitures</u>

Forfeitures from unclaimed benefits may be used to reduce administrative expenses of the Plan or may be reallocated among eligible participants at the end of the Plan year. The balance of forfeitures was $0 and $12 at August 26, 2024 and December 31, 2023, respectively. During the period of January 1, 2024 through August 26, 2024 and for the year ended December 31, 2023, forfeitures of $5 and $208, respectively, were used to reduce administrative expenses of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Summary of Significant Accounting Policies</u>:

<u>Basis of accounting</u>

The financial statements of the Plan are prepared using the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

<u>Master Trust</u>

The investments of the Plan, along with investments of other defined contribution plans of The Kroger Co. and its subsidiaries, are pooled for investment purposes in a master trust pursuant to an agreement dated October 15, 2008, between The Northern Trust Company, the trustee, and the Company – The Kroger Defined Contribution Plan Master Trust (the Master Trust). Effective August 26, 2024, the date of the merger, the Plan no longer had an interest in the Master Trust.

<u>Investment valuation and income recognition</u>

The Plan's investments within the Master Trust are stated at fair value, except for fully benefit-responsive investment contracts which are reported at contract value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan's Retirement Benefit Plan Management Committee determines the Plan's valuation policies utilizing information provided by the investment advisors and custodian. See Note 5 for discussion of fair value measurements.

Purchases and sales of securities are recorded on a trade date basis. Gains or losses on sales of securities are based on average cost. Dividends are recorded on the ex-dividend date. Income from other investments is recorded as earned. Net appreciation includes the Plan's gains and losses on investments bought and sold as well as held during the year.

Investment contracts held by a defined contribution plan are required to be reported at fair value, except for fully benefit-responsive investment contracts. Contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate a permitted transaction under the terms of the Plan. The Plan invests in investment contracts through the Master Trust.

<u>Estimates</u>

The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results may differ from those estimates.

<u>Administrative expenses</u>

The Plan will pay the administrative costs and expenses of the Plan, including the custodian and management fees. Any expenses that are unable to be allocated to participants are paid by the Company and are excluded from these financial statements. Fees related to the administration of notes receivable from participants and distributions to participants are charged directly to the participant's account and are included in administrative expenses.

<u>Subsequent events</u>

The Company evaluates events and transactions occurring subsequent to the date of the financial statements for matters requiring recognition or disclosure in the financial statements. The accompanying financial statements consider events through June 13, 2025, the date on which the financial statements were available to be issued.

3. <u>Investment Contracts</u>:

The Master Trust holds several synthetic investment contracts which are managed by investment fund managers. The key difference between a synthetic investment contract and a traditional investment contract is that the Master Trust holds the underlying assets in a synthetic investment contract. The Master Trust also purchases wrapper contracts from financial institutions which provide assurance that crediting rates will never be less than zero. All plans have an undivided interest in each investment contract. The investment contracts are fully benefit-responsive and are therefore reported at contract value. A fully benefit-responsive investment provides a liquidity guarantee by a financially responsible third party of principal and previously accrued interest for liquidations, transfers, loans, or withdrawals initiated by Plan participants under the terms of the ongoing Plan. Certain employer-initiated events (i.e. layoffs, mergers, bankruptcy, Plan termination) are not eligible for the liquidity guarantee.

In general, issuers may terminate the investment contracts and settle at other than contract value if the qualification status of the employer or Plan changes, if there is a breach of material obligations under the contract and misrepresentation by the contract holder, or failure of the underlying portfolio to conform to the pre-established investment guidelines.

The Plan Administrator does not believe that the occurrence of any such event, which would limit the Plan's ability to transact at contract value with participants, is probable.

4. <u>Master Trust</u>:

At August 26, 2024 and December 31, 2023, the Plan's ownership interest in the Master Trust was 0% and 20.94%, respectively. The following is financial information with respect to the Master Trust as of December 31, 2023 as the Plan no longer held an interest in the Master Trust at August 26, 2024, which was the effective date of the merger:

December 31, 2023 investment holdings:

---

| | | |
|:---|:---|:---|
|  | 2023 | 2023 |
|  |  | Plan's Interest |
|  | Master Trust | in Master Trust |
|  | <u>Balance</u> | <u>Balances</u> |
| Investments at Fair Value: |  |  |
| Cash and Cash Equivalents | $13718 | $2581 |
| Corporate Stocks | 2631853 | 495140 |
| Corporate Bonds | 425 | 80 |
| Collective Trusts/Comingled Funds | 7029981 | 1322575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investments at Fair Value | $9675977 | $1820376 |
| Investments at Contract Value: |  |  |
| Cash and Equivalents | $27852 | $11013 |
| Fixed Maturity Synthetic GICS | 46642 | 18442 |
| Constant Duration Synthetic GICS | 1030763 | 407570 |
| &nbsp;&nbsp;&nbsp;Total Investments at Contract Value: | $1105257 | $437025 |
| &nbsp;&nbsp;&nbsp;Total Investments: | $10781234 | $2257401 |

---

The underlying investments within the synthetic contracts include corporate, government and mortgage-backed debt securities.

Statement of Changes in Net Assets of the Master Trust for the period January 1, 2024 to August 26, 2024 and the year ended December 31, 2023:

---

| | | |
|:---|:---|:---|
|  | <u>2024</u> | <u>2023</u> |
| Net appreciation | $1215665 | $1249474 |
| Dividends | 33560 | 61909 |
| &nbsp;&nbsp;&nbsp;Net investment income | 1249225 | 1311383 |
| Transfers in (out): |  |  |
| &nbsp;&nbsp;&nbsp;Contributions | 430006 | 760631 |
| &nbsp;&nbsp;&nbsp;Interest from loans | 5559 | 6469 |
| &nbsp;&nbsp;&nbsp;Benefit payments | (827264) | (897185) |
| &nbsp;&nbsp;&nbsp;Administrative expenses | (7344) | (11823) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers out | (399043) | (141908) |
| &nbsp;&nbsp;&nbsp;Net increase | 850182 | 1169475 |
| Net assets: |  |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 10781234 | 9611759 |
| &nbsp;&nbsp;&nbsp;End of year | $11631416 | $10781234 |

---

5. <u>Fair Value Measurements</u>:

For financial statement elements currently required to be measured at fair value, Financial Accounting Standards Board (FASB) defines fair value and establishes a framework for measuring fair value, and expands disclosures about the fair value measurements. The standards define fair value as the price that would be received to sell an asset or paid to transfer a liability (exit price) regardless of whether an observable liquid market price exists.

FASB establishes a fair value hierarchy that categorizes the inputs to valuation techniques that are used to measure fair value into three levels:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 includes observable inputs which reflect quoted prices for identical assets or liabilities in
active markets at the measurement date.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 includes observable inputs for assets or liabilities other than quoted prices included in Level
1 and it includes valuation techniques which use prices for similar assets and liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 includes unobservable inputs which reflect the reporting entity's estimates of the assumptions
that market participants would use in pricing the asset or liability, including assumptions about risk.

The asset's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Participants may direct their investments into Kroger common stock, retirement date funds, or separately managed accounts. The underlying investments in the retirement date funds and separately managed accounts include cash and cash equivalents, corporate bonds, collective trusts/comingled funds, and guaranteed investment contracts as described herein.

The following are descriptions of the valuation methods used for assets measured at fair value. There has been no change in the methodologies used at December 31, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;• Cash and Cash Equivalents: The carrying value approximates fair value.

&nbsp;&nbsp;&nbsp;&nbsp;• Corporate Stocks: The fair values of these securities are based on observable market quotations for identical assets and are valued at the closing price reported on the active market on which the individual securities are traded.

&nbsp;&nbsp;&nbsp;&nbsp;• Corporate Bonds: The fair values of these securities are primarily based on observable market quotations for identical or similar bonds, valued at the closing price reported on the active market on which the individual securities are traded. When such quoted prices are not available, the bonds are valued using a discounted cash flows approach using current yields on similar instruments of issuers with similar credit ratings, including adjustments for certain risks that may not be observable, such as credit and liquidity risks.

&nbsp;&nbsp;&nbsp;&nbsp;• Collective Trusts/Comingled Funds: The collective trust/comingled funds are public investment vehicles valued using a NAV as a practical expedient provided by the manager of each fund. The NAV is based on the underlying net assets owned by the fund, divided by the number of shares outstanding. The NAV's unit price is quoted on a private market that is not active. However, the NAV is based on the fair value of the underlying securities within the fund, which are traded on an active market, and valued at the closing price reported on the active market on which those individual securities are traded. The significant investment strategies of the funds are as described in the financial statements provided by each fund. There are no restrictions on redemptions from these funds.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement.

While all the investments of the participating plans are deemed part of the Master Trust, each plan does maintain a separate accounting of its share of the investments in the Master Trust. As of August 26, 2024, the Plan no longer has a share of investments in the Master Trust and has no assets in the Plan.

The following table set forth by level, within the fair value hierarchy, the Master Trust's assets at fair value as of December 31, 2023:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Fair Value Measurements: |  |  |  |  |  |
|  | Assets at Fair Value at December 31, 2023: | Assets at Fair Value at December 31, 2023: | Assets at Fair Value at December 31, 2023: | Assets at Fair Value at December 31, 2023: | Assets at Fair Value at December 31, 2023: |
| Investments in Master Trust: | <u>Total</u> | <u>Level 1</u> | <u>Level 2</u> | <u>Level 3</u> | <u>Assets at <br> NAV</u> |
| Cash and Cash Equivalents | $13718 | $13718 | $- | $- | $- |
| Corporate Stocks | 2631853 | 2631853 |  |  |  |
| Corporate Bonds | 425 |  | 425 |  |  |
| Collective Trusts/Comingled Funds | 7029981 | - | - | - | 7029981 |
| Total investments in Master Trust |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;measured at fair value | $9675977 | $2645571 | $425 | $- | $7029981 |

---

**Fair Value of Investments in Entities that Use NAV per Share Practical Expedient**

The following table summarizes investments for which fair value is measured using the NAV per share practical expedient as of December 31, 2023:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;Redemption |  |
|  |  | &nbsp;&nbsp;Unfunded | &nbsp;&nbsp;Frequency (if | &nbsp;&nbsp;Redemption |
| &nbsp;&nbsp;<u>December 31, 2023</u> | &nbsp;&nbsp;<u>Fair Value</u> | &nbsp;&nbsp;<u>Commitments</u> | &nbsp;&nbsp;<u>currently eligible)</u> | &nbsp;&nbsp;<u>Notice Period</u> |
| &nbsp;&nbsp;Collective trusts/ |  |  |  |  |
| &nbsp;&nbsp;Comingled funds | &nbsp;&nbsp;$7029981 | &nbsp;&nbsp;n/a | &nbsp;&nbsp;Daily - Weekly | &nbsp;&nbsp;2 to 5 days |

---

6. <u>Income Tax Status</u>:

The Plan obtained its latest determination letter dated July 22, 2016, in which the Internal Revenue Service (IRS) stated that the Plan, as then designed, complied with the applicable requirements of the Internal Revenue Code (IRC). Although the Plan has been amended since receiving the determination letter, the Plan Administrator believes that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plan's financial statements.

7. <u>Risks and Uncertainties</u>:

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits.

8. <u>Related-party and Party-in-interest Transactions</u>:

The Plan's portion of its interest in the Master Trust included $0 and $774,318 of The Kroger Co. common shares at August 26, 2024 and December 31, 2023, respectively, at fair value.

The Plan purchased 315,092 and 662,643 common shares of The Kroger Co. at a cost of $16,126 and $29,935 for the period January 1, 2024 through August 26, 2024 and the year ended December 31, 2023, respectively, through its interest in the Master Trust.

The Plan sold 1,149,683 and 1,477,038 common shares of The Kroger Co. for $60,176 and $68,560 with a realized gain of $39,955 and $42,736 for the period January 1, 2024 through August 26, 2024 and the year ended December 31, 2023, respectively, through its interest in the Master Trust.

Bank of America, N.A. and Merrill Lynch provide recordkeeping and investment management services to the Plan. Therefore, transactions with Bank of America, N.A. and Merrill Lynch qualify as party-in-interest transactions.

9. <u>Plan Amendments:</u> 

Effective January 1, 2023, employees of the Company became eligible to participate when they have attained age 18 and completed 30 days of service.

Effective January 1, 2024, absent specific elections by the participant, those with balances greater than one thousand dollars and less than or equal to seven thousand dollars shall be distributed, in the form of a direct rollover, to an individual retirement account designated by the Plan Administrator.

10. <u>Plan Correction:</u> 

The Company had identified operational errors in the administration of the Plan during 2023. Management determined the scope of the errors to be immaterial, but corrections were needed to fund the impacted participants' accounts. Management funded the corrections during 2023.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit No.** |  |
| [23.1](tm2517939d1_ex23-1.htm) | [Consent of Independent Registered Public Accounting Firm](tm2517939d1_ex23-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | THE KROGER CO. SAVINGS PLAN | THE KROGER CO. SAVINGS PLAN |
| Date: June 13, 2025 | By: | */s/ Theresa Monti* |
|  |  | Theresa Monti |
|  |  | Chairman of the Administrative Committee |

---

## Exhibit 23.1

Exhibit 23.1

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

To The Kroger Co. Retirement Benefit Plan Management Committee of The

Kroger Co. Savings Plan:

We consent to incorporation by reference in the Registration Statement (No. 333-206532) on Form S-8 of The Kroger Co. of our report dated June 13, 2025, relating to the statements of net assets available for benefits of The Kroger Co. Savings Plan as of August 26, 2024 and December 31, 2023, and the related statements of changes in net assets available for benefits for the period January 1, 2024 to August 26, 2024 and the year ended December 31, 2023, which report appears in the August 26, 2024 annual report on Form 11-K of The Kroger Co. Savings Plan.

/s/ Clark, Schaefer, Hackett & Co.

Cincinnati, Ohio

June 13, 2025