Albertsons 2004 Annual Report Download - page 53
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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
February 28, 2004
(53 weeks)
February 22, 2003
(52 weeks)
February 23, 2002
(52 weeks)
Net sales $20,209,679 $19,160,368 $20,293,040
Costs and expenses
Cost of sales 17,372,429 16,567,397 17,704,197
Selling and administrative expenses 2,220,329 2,020,110 2,037,771
Restructure and other charges 15,523 2,918 46,300
Operating earnings 601,398 569,943 504,772
Interest
Interest expense 165,581 182,499 194,294
Interest income 19,063 20,560 21,520
Interest expense, net 146,518 161,939 172,774
Earnings before income taxes 454,880 408,004 331,998
Provision for income taxes
Current 123,026 89,754 57,312
Deferred 51,716 61,208 76,360
Income tax expense 174,742 150,962 133,672
Net earnings $ 280,138 $ 257,042 $ 198,326
Weighted average number of common shares outstanding
Diluted 135,418 134,877 133,978
Basic 133,975 133,730 132,940
Net earnings per common share—diluted $ 2.07 $ 1.91 $ 1.48
Net earnings per common share—basic $ 2.09 $ 1.92 $ 1.49
See notes to consolidated financial statements.
F-6