Albertsons 2002 Annual Report Download - page 21

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19
February 23, 2002 February 24, 2001 February 26, 2000
(In thousands, except percent data) (52 weeks) (52 weeks) (52 weeks)
Net sales
Retail food $ 9,549,068 $ 9,353,992 $ 8,069,767
45.7% 40.3% 39.7%
Food distribution 11,359,454 13,840,287 12,269,312
54.3% 59.7% 60.3%
Total net sales $20,908,522 $23,194,279 $20,339,079
100.0% 100.0% 100.0%
Operating earnings
Retail food $ 375,009 $ 301,287 $ 340,707
Food distribution 227,013 251,009 223,429
General corporate expenses (39,245) (35,840) (41,356)
Gain on sale of Hazelwood Farms Bakeries ——163,662
Restructure and other charges (46,300) (171,264) (103,596)
Total operating earnings 516,477 345,192 582,846
Interest expense, net (172,774) (190,835) (135,392)
Earnings before income taxes $ 343,703 $ 154,357 $ 447,454
Identifiable assets
Retail food $ 3,127,110 $ 3,098,916 $ 3,077,134
Food distribution 2,683,486 3,247,172 3,408,866
Corporate 14,186 13,892 9,353
Total $ 5,824,782 $ 6,359,980 $ 6,495,353
Depreciation and amortization
Retail food $ 177,585 $ 173,418 $ 149,574
Food distribution 160,718 167,253 124,161
Corporate 2,447 3,108 3,327
Total $ 340,750 $ 343,779 $ 277,062
Capital expenditures
Retail food $ 310,738 $ 347,540 $ 352,428
Food distribution 74,860 158,591 180,968
Corporate 3,060 5,542 5,868
Total $ 388,658 $ 511,673 $ 539,264
Reportable segment operating earnings were computed as total revenue less associated operating expenses.
Fiscal 2002 operating earnings reflect pre-tax charges of $12.5 million in retail food for store closing reserves.
Fiscal 2001 operating earnings reflect pre-tax charges of $44.5 million in retail food for store closing reserves and $24.3 million in food distribution for inventory markdowns and provisions for
certain uncollectible receivables.
Identifiable assets are those assets of the Company directly associated with the reportable segments.
See notes to consolidated financial statements.
Consolidated Composition of Net Sales and Operating Earnings