Kroger 2015 Annual Report Download - page 150
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A-76
In the fourth quarter of 2015, the Company incurred a $30 charge to OG&A expenses for
contributions to the UFCW Consolidated Pension Plan.
Quarter
2014
First
(16 Weeks)
Second
(12 Weeks)
Third
(12 Weeks)
Fourth
(12 Weeks)
Total Year
(52 Weeks)
Sales $32,961 $25,310 $24,987 $ 25,207 $108,465
Merchandise costs, including advertising,
warehousing, and transportation, excluding
items shown separately below 26,065 20,136 19,764 19,547 85,512
Operating, general and administrative 5,168 3,920 3,954 4,119 17,161
Rent 217 166 162 162 707
Depreciation and amortization 581 444 456 467 1,948
Operating profit 930 644 651 912 3,137
Interest expense 147 112 114 115 488
Earnings before income tax expense 783 532 537 797 2,649
Income tax expense 274 182 172 274 902
Net earnings including noncontrolling interests 509 350 365 523 1,747
Net earnings attributable to
noncontrolling interests 8 3 3 5 19
Net earnings attributable to The Kroger Co. $ 501 $ 347 $ 362 $ 518 $ 1,728
Net earnings attributable to The Kroger Co.
per basic common share $ 0.50 $ 0.35 $ 0.37 $ 0.53 $ 1.74
Average number of shares used in
basic calculation 1,002 970 972 972 981
Net earnings attributable to The Kroger Co.
per diluted common share $ 0.49 $ 0.35 $ 0.36 $ 0.52 $ 1.72
Average number of shares used in diluted
calculation 1,014 982 984 987 993
Dividends declared per common share $ 0.083 $ 0.083 $ 0.093 $ 0.093 $ 0.350
Annual amounts may not sum due to rounding.
In the first quarter of 2014, the Company incurred a $87 charge to OG&A expenses due to
commitments and withdrawal liabilities arising from restructuring of certain pension plan agreements to
help stabilize associates’ future benefits.
In the third quarter of 2014, the Company incurred a $25 charge to OG&A expenses due to
contributions to the Company’s charitable foundation and a $17 benefit to income tax expense due to
certain tax items.
In the fourth quarter of 2014, the Company incurred a $60 charge to OG&A expenses due
to contributions to the Company’s charitable foundation and a $55 charge to OG&A expenses for
contributions to the UFCW Consolidated Pension Plan.
20. SUBSEQUENT EVENT
In anticipation of future debt refinancing in fiscal years 2017 and 2018, the Company, in the first
quarter of 2016, entered into additional forward-starting interest rate swap agreements with an aggregate
notional amount totaling $1,300. After entering into these additional forward-starting interest rate swaps,
the Company has a total of $1,700 notional amount of forward-starting interest rate swaps outstanding.
The forward-starting interest rate swaps entered into in the first quarter of 2016 were designated as cash-
flow hedges as defined by GAAP.