Albertsons 2002 Annual Report Download - page 36

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34
Independent Auditors’ Report
The Board of Directors and Stockholders
SUPERVALU INC.
Eden Prairie, Minnesota
We have audited the accompanying consolidated balance sheets
of SUPERVALU INC. and subsidiaries as of February 23, 2002 and
February 24, 2001, and the related consolidated statements of earnings,
stockholders’ equity and cash flows for each of the fiscal years in the
three-year period ended February 23, 2002. These consolidated financial
statements are the responsibility of the Company’s management. Our
responsibility is to express an opinion on these consolidated financial state-
ments based on our audits.
We conducted our audits in accordance with auditing standards generally
accepted in the United States of America. Those standards require that
we plan and perform the audits to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the consolidated financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, the consolidated financial statements referred to above
present fairly, in all material respects, the consolidated financial position
of SUPERVALU INC. and subsidiaries as of February 23, 2002 and
February 24, 2001, and the results of their operations and their cash
flows for each of the fiscal years in the three-year period ended
February 23, 2002, in conformity with accounting principles generally
accepted in the United States of America.
Minneapolis, Minnesota
April 3, 2002