Albertsons 2006 Annual Report Download - page 52

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SUPERVALU INC. and Subsidiaries
CONSOLIDATED COMPOSITION OF NET SALES AND OPERATING EARNINGS
(In thousands, except percent data)
February 25, 2006
(52 weeks)
February 26, 2005
(52 weeks)
February 28, 2004
(53 weeks)
Net sales
Retail food $10,634,954 $10,549,478 $10,551,235
53.5% 54.0% 52.2%
Supply chain services 9,228,645 8,993,762 9,658,444
46.5% 46.0% 47.8%
Total net sales $19,863,599 $19,543,240 $20,209,679
100.0% 100.0% 100.0%
Operating earnings
Retail food operating earnings $ 268,820 $ 446,303 $ 443,968
Supply chain services operating earnings 214,371 234,585 222,462
General corporate expenses (43,578) (48,064) (49,509)
Gain on sale of WinCo Foods, Inc. — 109,238 —
Restructure and other charges (4,455) (26,416) (15,523)
Total operating earnings 435,158 715,646 601,398
Interest expense, net (106,010) (114,782) (146,518)
Earnings before income taxes $ 329,148 $ 600,864 $ 454,880
Identifiable assets
Retail food $ 2,826,098 $ 3,269,793 $ 3,448,117
Supply chain services 2,543,093 2,550,535 2,440,692
Corporate 669,080 453,634 272,962
Total $ 6,038,271 $ 6,273,962 $ 6,161,771
Depreciation and amortization
Retail food $ 216,480 $ 207,523 $ 200,367
Supply chain services 93,535 94,943 99,322
Corporate 663 573 1,900
Total $ 310,678 $ 303,039 $ 301,589
Capital expenditures
Retail food $ 247,823 $ 219,069 $ 304,774
Supply chain services 116,816 105,435 65,878
Corporate 693 1,184 812
Total $ 365,332 $ 325,688 $ 371,464
The company’s business is classified by management into two reportable segments: Retail food and supply
chain services. Retail food operations include three retail formats: extreme value stores, regional price
superstores and regional supermarkets. The retail formats include results of food stores owned and results of
sales to extreme value stores licensed by the company. Supply chain services operations include results of sales
to affiliated food stores, mass merchants and other customers and logistics arrangements. Substantially all of the
company’s operations are domestic. Management utilizes more than one measurement and multiple views of data
to assess segment performance and to allocate resources to the segments. However, the dominant measurements
are consistent with the consolidated financial statements.
F-7