Albertsons 2003 Annual Report Download - page 22

Download and view the complete annual report

Please find page 22 of the 2003 Albertsons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

The following table represents the company’s total commitments and total off-balance sheet arrangements at
February 22, 2003:
Amount of Commitment Expiration Per Period
Total
Amount
Committed
Fiscal
2004
Fiscal
2005-2006
Fiscal
2007-2008 Thereafter
(in thousands)
Commitments:
Notes Payable $ 80,000 $ 80,000 $ — $ — $ —
Debt 1,506,053 31,124 335,061 78,627 1,061,241
Capital and Direct Financing
Leases 575,185 30,456 89,637 86,562 368,530
Total Commitments $2,161,238 $141,580 $424,698 $165,189 $1,429,771
Off-Balance Sheet Arrangements:
Retailer Loan and Lease
Guarantees $ 305,946 $ 46,758 $ 71,691 $ 49,186 $ 138,311
Construction Loan Commitments 26,300 26,300 — — —
Limited Recourse Liability on
Notes Receivable 10,969 523 5,123 5,323 —
Purchase Options on Synthetic
Leases 85,000 60,000 — 25,000 —
Operating Leases 1,007,170 141,612 235,662 179,335 450,561
Total Off-Balance Sheet
Arrangements $1,435,385 $275,193 $312,476 $258,844 $ 588,872
COMMON STOCK PRICE
SUPERVALU’s common stock is listed on the New York Stock Exchange under the symbol SVU. At fiscal
2003 year end, there were 6,960 shareholders of record compared with 7,155 at the end of fiscal 2002.
Common Stock Price Range Dividends Per Share
Fiscal
2003 2002 2003 2002
High Low High Low
First Quarter $30.81 $24.60 $16.46 $12.60 $0.1400 $0.1375
Second Quarter 28.94 19.18 21.80 15.00 0.1425 0.1400
Third Quarter 21.59 14.75 24.10 18.81 0.1425 0.1400
Fourth Quarter 18.12 14.01 24.96 18.85 0.1425 0.1400
Year $30.81 $14.01 $24.96 $12.60 $0.5675 $0.5575
Dividend payment dates are on or about the 15th day of March, June, September and December, subject to
the Board of Directors approval.
NEW ACCOUNTING STANDARDS
Recently Adopted Accounting Standards
In June 2001, the Financial Accounting Standards Board (FASB) approved SFAS No. 142. SFAS No. 142
requires companies to cease amortizing goodwill and test at least annually for impairment. Amortization of
goodwill ceased on February 24, 2002, at which time goodwill was tested for impairment. Each of the company’s
22