Albertsons 2007 Annual Report Download - page 40

(4) The Company’s benefit obligations include obligations related to sponsored defined benefit pension an
d
postret
i
rement
b
ene
fi
tp
l
ans an
dd
e
f
erre
d
compensat
i
on p
l
ans. T
h
e
d
e
fi
ne
db
ene
fi
t pens
i
on p
l
an
h
as p
l
a
n
assets of approximatel
y
$1,735 at the end of fiscal 2007. The postretirement plan obli
g
ations exclude an
y
Medicare Part D subsidies that might be received from the federal government
.
(
5
) The Company’s purchase obligations include various obligations that have annual purchase commitments of
$
1 or greater. As of February 24, 2007, future purchase obligations existed that primarily related to suppl
y
c
ontracts. In the ordinar
y
course of business, the Compan
y
enters into suppl
y
contracts to purchase product
s
for resale. These supply contracts typically include either volume commitments or fixed expiration dates,
term
i
nat
i
on prov
i
s
i
ons an
d
ot
h
er stan
d
ar
d
contractua
l
cons
id
erat
i
ons. T
h
e supp
l
y contracts t
h
at are
c
ancelable have not been included above.
CO
MM
O
N
S
T
OC
K PRI
CE
SUPERVALU’s common stock is listed on the New York Stock Exchange under the symbol SVU. At fiscal 2007
year end, there were 31,
6
14 shareholders of record compared with
6
,20
6
at the end of fiscal 200
6.
C
ommon
S
tock Price Rang
e
Dividends Per
S
hare
200
7
2006
2007
2006
Fiscal Hig
h
Low
Hig
h
Low
First
Q
uarter
$
32.28
$
28.24
$
34.72
$
30.64
$
0.1625
$
0.152
5
S
econd Quarter 31.13 26.14 3
5
.88 30.90 0.16
5
0 0.162
5
T
hird Quarter 34.
5
7 29.09 33.93 29.
55
0.16
5
0 0.162
5
Fourth Quarter 39.02 34.03 34.75 30.60 0.1650 0.162
5
Year 3
9
.02 26.14 3
5
.88 2
9
.
55
0.6
5
7
5
0.640
0
Dividend payment dates are on or about the 15th day of March, June, September and December, subject to the
B
oard of Directors a
pp
roval.
NEW A
CCOU
NTIN
GS
TANDARD
S
I
n December 2004, the Financial Accounting Standards Board (“FASB”) SFAS No. 123(R). SFAS No. 123(R)
add
resses t
h
e account
i
ng
f
or s
h
are-
b
ase
d
payments,
i
nc
l
u
di
ng grants o
f
emp
l
oyee stoc
k
opt
i
ons. Un
d
er t
h
ene
w
standard, companies are no lon
g
er able to account for share-based compensation transactions usin
g
the intrinsi
c
v
alue method in accordance with Accounting Principles Board (“APB”) Opinion No. 2
5
, “Accounting for Stock
I
ssued to Employees” (“APB Opinion No. 25”). Instead, companies are required to account for such transactions
u
sin
g
a fair-value method and reco
g
nize the expense in their consolidated statements of earnin
g
s. SFA
S
No. 123(R) and related FASB Staff Positions became effective for the Company on February 26, 2006. Th
e
ad
opt
i
on o
f
SFAS No. 123(R) an
di
ts e
ff
ects are
d
escr
ib
e
di
n Note 12—Stoc
k
-Base
d
Compensat
i
on,
i
nt
h
e Note
s
to Consolidated Financial Statements
.
I
n November 2004, the FASB issued SFAS No. 151, “Inventory Costs, an Amendment of ARB No. 43, Chapter
4” (“SFAS No. 1
5
1”). SFAS No. 1
5
1 clarifies that inventor
y
costs that are “abnormal” are required to be char
g
e
d
to expense as incurred as opposed to being capitalized into inventory as a product cost. SFAS No. 1
5
1 provide
s
examp
l
es o
f
“a
b
norma
l
” costs to
i
nc
l
u
d
e costs o
f idl
e
f
ac
ili
t
i
es, excess
f
re
i
g
h
tan
dh
an
dli
ng costs, an
d
waste
d
materials (spoila
g
e). SFAS No. 1
5
1 became effective for the Compan
y
on Februar
y
26, 2006 and did not have
a
material effect on the Company’s consolidated financial statements.
I
n December 2004, the FASB issued SFAS No. 1
5
3, “Exchan
g
es of Nonmonetar
y
Assets, an amendment of AP
B
O
p
inion No. 29” (“SFAS No. 1
5
3”). SFAS No. 1
5
3 amends APB O
p
inion No. 29 to eliminate the exce
p
tion fo
r
34