Albertsons 2009 Annual Report Download - page 40

COMMON STOCK PRICE
SUPERVALU’s common stock is listed on the New York Stock Exchange under the symbol SVU. As of the
end of fiscal 2009, there were 20,990 stockholders of record compared with 28,890 as of the end of fiscal
2008.
Fiscal High Low High Low
2009 2008 2009 2008
Common Stock Price Range Dividends Per Share
First Quarter $ 35.91 $ 26.09 $ 49.29 $ 36.20 $ 0.1700 $ 0.1650
Second Quarter 33.65 22.95 49.78 37.03 0.1725 0.1700
Third Quarter 25.70 8.59 43.30 35.02 0.1725 0.1700
Fourth Quarter 20.38 10.52 41.89 26.01 0.1725 0.1700
Year 35.91 8.59 49.78 26.01 $ 0.6875 $ 0.6750
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 are separately disclosed by level within the fair
value hierarchy. In February 2008, the FASB approved FASB Staff Position (“FSP”) FAS 157-2, “Effective
Date of FASB Statement No. 157,” 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 FAS 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 became effective for the Company
on February 24, 2008 for financial assets and financial liabilities and for nonfinancial assets and nonfinancial
liabilities that are remeasured at least annually and did not have a material effect on the Company’s
consolidated financial statements. 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 basis. The Company is evaluating the effect the implementation of FSP
FAS 157-2 will have on the consolidated financial statements.
In December 2007, the FASB issued SFAS No. 141 (revised 2007), “Business Combinations”
(“SFAS No. 141(R)”). SFAS No. 141(R) expands the definition of a business combination and requires the fair
value of the purchase price of an acquisition, including the issuance of equity securities, to be determined on
the acquisition date. SFAS No. 141(R) also requires that all assets, liabilities and any non-controlling interest
in an acquired business be recorded at fair value at the acquisition date. In addition, SFAS No. 141(R) requires
that acquisition costs generally be expensed as incurred, restructuring costs generally be expensed in periods
subsequent to the acquisition date and changes in accounting for deferred tax asset valuation allowances and
acquired income tax uncertainties after the measurement period impact income tax expense. SFAS No. 141(R)
is effective for the Company’s fiscal year beginning March 1, 2009 on a prospective basis for all business
combinations for which the acquisition date is on or after the effective date, with the exception of the
accounting for adjustments to income tax-related amounts, which is applied to acquisitions that closed prior to
the effective date. The adoption of SFAS No. 141(R) to prior acquisitions is not expected to have a material
effect on the Company’s consolidated financial statements.
In December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in Consolidated Financial
Statements—an Amendment of ARB No. 51.” SFAS No. 160 changes the accounting and reporting for
minority interests such that minority interests will be recharacterized as noncontrolling interests and will be
required to be reported as a component of equity, and requires that purchases or sales of equity interests that
do not result in a change in control be accounted for as equity transactions and, upon a loss of control,
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