Albertsons 2003 Annual Report Download - page 41

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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
February 22, 2003
(52 weeks)
February 23, 2002
(52 weeks)
February 24, 2001
(52 weeks)
Net sales $19,160,368 $20,293,040 $22,520,384
Costs and expenses
Cost of sales 16,567,397 17,704,197 19,976,436
Selling and administrative expenses 2,020,110 2,037,771 2,042,259
Restructure and other charges 2,918 46,300 171,264
Operating earnings 569,943 504,772 330,425
Interest
Interest expense 182,499 194,294 212,898
Interest income 20,560 21,520 22,063
Interest expense, net 161,939 172,774 190,835
Earnings before income taxes 408,004 331,998 139,590
Provision for income taxes
Current 89,754 57,312 105,200
Deferred 61,208 76,360 (38,480)
Income tax expense 150,962 133,672 66,720
Net earnings $ 257,042 $ 198,326 $ 72,870
Weighted average number of common shares outstanding
Diluted 134,877 133,978 132,829
Basic 133,730 132,940 132,251
Net earnings per common share—diluted $ 1.91 $ 1.48 $ 0.55
Net earnings per common share—basic $ 1.92 $ 1.49 $ 0.55
See notes to consolidated financial statements.
F-6