Albertsons 2005 Annual Report Download - page 54
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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
February 26, 2005
(52 weeks)
February 28, 2004
(53 weeks)
February 22, 2003
(52 weeks)
Net sales $19,543,240 $20,209,679 $19,160,368
Costs and expenses
Cost of sales 16,681,472 17,372,429 16,567,397
Selling and administrative expenses 2,228,944 2,220,329 2,020,110
Gain on sale of WinCo Foods, Inc. (109,238) — —
Restructure and other charges 26,416 15,523 2,918
Operating earnings 715,646 601,398 569,943
Interest
Interest expense 137,500 165,581 182,499
Interest income 22,718 19,063 20,560
Interest expense, net 114,782 146,518 161,939
Earnings before income taxes 600,864 454,880 408,004
Provision for income taxes
Current 168,586 123,026 89,754
Deferred 46,455 51,716 61,208
Income tax expense 215,041 174,742 150,962
Net earnings $ 385,823 $ 280,138 $ 257,042
Net earnings per common share—basic $ 2.86 $ 2.09 $ 1.92
Net earnings per common share—diluted $ 2.71 $ 2.01 $ 1.86
Weighted average number of common shares outstanding
Basic 135,003 133,975 133,730
Diluted 144,924 143,236 142,695
See Notes to Consolidated Financial Statements.
F-8