Albertsons 2008 Annual Report Download - page 39

(4) Represents the minimum payments under capital leases, offset by minimum subtenant rentals of $86, $14,
$23, $19 and $30, respectively.
(5) The Company’s benefit obligations include the undiscounted obligations related to sponsored defined
benefit pension and postretirement benefit plans and deferred compensation plans. The defined benefit
pension plan has plan assets of approximately $1,700 at the end of fiscal 2008. The postretirement plan
obligations exclude any Medicare Part D subsidies that might be received from the federal government.
(6) The Company’s purchase obligations include various obligations that have annual purchase commitments of
$1 or greater. As of February 23, 2008, future purchase obligations existed that primarily related to supply
contracts. In the ordinary course of business, the Company enters into supply contracts to purchase products
for resale. These supply contracts typically include either volume commitments or fixed expiration dates,
termination provisions and other standard contractual considerations. The supply contracts that are
cancelable have not been included above.
Effective February 25, 2007, the first day of the 2008 fiscal year, the Company adopted the provisions of FIN 48.
The amount of unrecognized tax benefits at February 23, 2008 was $146. This amount was not included in the
contractual obligations table presented above, because the timing of the settlement of unrecognized tax benefits
cannot be fully determined. However, the Company expects to resolve $5, net, of unrecognized tax benefits
within the next 12 months.
COMMON STOCK PRICE
SUPERVALU’s common stock is listed on the New York Stock Exchange under the symbol SVU. At the end of
fiscal 2008, there were 28,890 stockholders of record compared with 31,614 at the end of fiscal 2007.
Common Stock Price Range Dividends Per Share
2008 2007 2008 2007
Fiscal High Low High Low
First Quarter $49.29 $36.20 $32.28 $28.24 $0.1650 $0.1625
Second Quarter 49.78 37.03 31.13 26.14 0.1700 0.1650
Third Quarter 43.30 35.02 34.57 29.09 0.1700 0.1650
Fourth Quarter 41.89 26.01 39.02 34.03 0.1700 0.1650
Year 49.78 26.01 39.02 26.14 $0.6750 $0.6575
Dividend payment dates are on or about the 15th day of March, June, September and December, subject to the
Board of Directors approval.
NEW ACCOUNTING STANDARDS
In September 2006, the FASB issued SFAS No. 157, “Fair Value Measurements.” SFAS No. 157 clarifies the
principle that fair value should be based on the assumptions that market participants would use when pricing an
asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those
assumptions. Under SFAS No. 157, fair value measurements would be separately disclosed by level within the
fair value hierarchy. In February 2008, the FASB approved FASB Staff Position FAS 157-2 (“FSP 157-2”) that
permits companies to partially defer the effective date of SFAS No. 157 for one year for nonfinancial assets and
nonfinancial liabilities that are recognized or disclosed at fair value in the financial statements on a nonrecurring
basis. FSP 157-2 did not permit companies to defer recognition and disclosure requirements for financial assets
and financial liabilities or for nonfinancial assets and nonfinancial liabilities that are remeasured at least
annually. SFAS No. 157 is effective for financial assets and financial liabilities and for nonfinancial assets and
nonfinancial liabilities that are remeasured at least annually for the Company’s fiscal year beginning
February 24, 2008. The Company will defer adoption of SFAS No. 157 for one year for nonfinancial assets and
nonfinancial liabilities that are recognized or disclosed at fair value in the financial statements on a nonrecurring
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