Harris Teeter 2007 Annual Report Download - page 52

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48
RUDDICK CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (continued)
INDUSTRY SEGMENT INFORMATION
The Company operates primarily in two businesses: retail grocery (including the real estate and store
development activities of the Company) - Harris Teeter and industrial thread (textile primarily), including technical
textiles and embroidery thread - American & Efird. Harris Teeter operates a regional chain of supermarkets in
the southeastern United States. American & Efird manufactures and distributes sewing thread for the apparel
and other markets, technical textiles and embroidery thread throughout their global operations. The Company
evaluates performance of its two businesses utilizing various measures which are based on operating profit.
Summarized financial information for fiscal years 2007, 2006 and 2005 is as follows (in millions):
Industrial
Thread
Retail
Grocery Corporate (1) Consolidated
2007
Net Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 339.8 $ 3,299.4 $ 3,639.2
Gross Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.6 1,021.7 1,096.3
Operating Profit (Loss) . . . . . . . . . . . . . . . . . . . . 1.4 154.1 $ (7.3 ) 148.2
Assets Employed at Year End . . . . . . . . . . . . . . . 284.3 1,150.5 94.9 1,529.7
Depreciation and Amortization . . . . . . . . . . . . . . 19.1 81.1 0.6 100.8
Capital Expenditures . . . . . . . . . . . . . . . . . . . . . . 7.7 205.5 6.7 219.9
2006
Net Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 343.2 $ 2,922.7 $ 3,265.9
Gross Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74.3 897.6 971.9
Operating Profit (Loss) . . . . . . . . . . . . . . . . . . . . 1.6 127.6 $ (6.1 ) 123.1
Assets Employed at Year End . . . . . . . . . . . . . . . 297.1 980.1 85.7 1,362.9
Depreciation and Amortization . . . . . . . . . . . . . . 18.1 69.6 1.2 88.9
Capital Expenditures . . . . . . . . . . . . . . . . . . . . . . 7.6 210.3 0.6 218.5
2005
Net Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 319.7 $ 2,645.0 $ 2,964.7
Gross Profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78.2 787.9 866.1
Operating Profit (Loss) . . . . . . . . . . . . . . . . . . . . 9.0 113.6 $ (7.3 ) 115.3
Assets Employed at Year End . . . . . . . . . . . . . . . 286.0 793.8 123.8 1,203.6
Depreciation and Amortization . . . . . . . . . . . . . . 16.9 59.6 1.4 77.9
Capital Expenditures . . . . . . . . . . . . . . . . . . . . . . 13.6 115.4 — 129.0
(1) Corporate Operating Profit (Loss) includes a portion of compensation and benefits of holding company
employees and certain other costs that are not related to the operating companies. Operating profit of
the operating companies include all direct expenses and the common expenses incurred by the holding
company on behalf of its operating subsidiaries. Corporate Assets Employed include property, equipment,
cash and investment assets, and net cash surrender value of Company-owned life insurance.