Albertsons 2006 Annual Report Download - page 53

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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
(In thousands, except per share data)
February 25, 2006
(52 weeks)
February 26, 2005
(52 weeks)
February 28, 2004
(53 weeks)
Net sales $19,863,599 $19,543,240 $20,209,679
Costs and expenses
Cost of sales 16,977,352 16,681,472 17,372,429
Selling and administrative expenses 2,446,634 2,228,944 2,220,329
Gain on sale of WinCo Foods, Inc. — (109,238) —
Restructure and other charges 4,455 26,416 15,523
Operating earnings 435,158 715,646 601,398
Interest
Interest expense 138,928 137,500 165,581
Interest income 32,918 22,718 19,063
Interest expense, net 106,010 114,782 146,518
Earnings before income taxes 329,148 600,864 454,880
Provision for income taxes
Current 168,108 168,586 123,026
Deferred (45,129) 46,455 51,716
Income tax expense 122,979 215,041 174,742
Net earnings $ 206,169 $ 385,823 $ 280,138
Net earnings per common share—basic $ 1.52 $ 2.86 $ 2.09
Net earnings per common share—diluted $ 1.46 $ 2.71 $ 2.01
Weighted average number of common shares outstanding
Basic 136,077 135,003 133,975
Diluted 145,699 144,924 143,236
See Notes to Consolidated Financial Statements.
F-8