Albertsons 2003 Annual Report Download - page 44

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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
February 22,
2003
(52 weeks)
February 23,
2002
(52 weeks)
February 24,
2001
(52 weeks)
Cash flows from operating activities
Net earnings $ 257,042 $ 198,326 $ 72,870
Adjustments to reconcile net earnings to net cash provided by operating
activities:
Depreciation and amortization 297,056 340,750 343,779
LIFO expense 4,741 143 4,991
Provision for losses on receivables 15,719 19,898 23,107
(Gain) loss on sale of property, plant and equipment (5,564) 4,649 (1,164)
Restructure and other charges 2,918 46,300 171,264
Deferred income taxes 14,184 76,360 (38,480)
Equity in earnings of unconsolidated subsidiaries (39,724) (29,156) (21,526)
Other adjustments, net 3,675 (1,228) (3,496)
Changes in assets and liabilities
Receivables (46,890) 120,613 (66,482)
Inventories (15,974) 298,150 130,657
Accounts payable 97,783 (386,504) (13,845)
Other assets and liabilities (11,390) 4,241 10,129
Net cash provided by operating activities 573,576 692,542 611,804
Cash flows from investing activities
Additions to long-term notes receivable (61,963) (37,372) (69,875)
Proceeds received on long-term notes receivable 57,869 47,794 66,572
Proceeds from sale of assets 65,986 57,798 43,839
Purchases of property, plant and equipment (382,581) (292,927) (397,715)
Net cash used in investing activities (320,689) (224,707) (357,179)
Cash flows from financing activities
Net issuance (reduction) of notes payable 56,000 (551,574) 2,526
Proceeds from issuance of long-term debt 296,535 218,014 60,000
Repayment of long-term debt (472,448) (19,863) (171,692)
Reduction of obligations under capital leases (29,767) (25,988) (28,220)
Dividends paid (75,648) (74,024) (72,244)
Net proceeds from the sale of common stock under option plans 31,617 19,458 3,085
Payment for purchase of treasury shares (42,159) (32,083) (48,604)
Net cash used in financing activities (235,870) (466,060) (255,149)
Net increase (decrease) in cash and cash equivalents 17,017 1,775 (524)
Cash and cash equivalents at beginning of year 12,171 10,396 10,920
Cash and cash equivalents at end of year $ 29,188 $ 12,171 $ 10,396
SUPPLEMENTAL CASH FLOW INFORMATION
The company’s non-cash activities were as follows:
Leased asset additions and related obligations $ 42,829 $ 95,730 $ 113,958
Minimum pension liability, net of deferred taxes of $47.1 million $ 72,328 $ — $ —
Interest and income taxes paid:
Interest paid (net of amount capitalized) $ 171,089 $ 184,719 $ 213,572
Income taxes paid $ 84,674 $ 102,123 $ 75,266
See notes to consolidated financial statements.
F-9