Albertsons 2010 Annual Report Download - page 74

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UNAUDITED QUARTERLY FINANCIAL INFORMATION
(In millions, except per share data)
Unaudited quarterly financial information for SUPERVALU INC. and subsidiaries is as follows:
First
(16 wks)
Second
(12 wks)
Third
(12 wks)
Fourth
(12 wks)
Fiscal Year
(52 wks)
2010
Net sales $ 12,715 $ 9,461 $ 9,216 $ 9,205 $ 40,597
Gross profit $ 2,847 $ 2,089 $ 2,060 $ 2,157 $ 9,153
Net earnings $ 113
(1)
$ 74 $ 109
(1)
$97
(1)
$ 393
Net earnings per share—diluted $ 0.53 $ 0.35 $ 0.51 $ 0.46 $ 1.85
Dividends declared per share $ 0.1725 $ 0.1750 $ 0.1750 $ 0.0875 $ 0.6100
Weighted average shares—diluted 212 213 213 213 213
First
(16 wks)
Second
(12 wks)
Third
(12 wks)
Fourth
(13 wks)
Fiscal Year
(53 wks)
2009
Net sales $ 13,347 $ 10,226 $ 10,171 $ 10,820 $ 44,564
Gross profit $ 3,065 $ 2,289 $ 2,280 $ 2,479 $ 10,113
Net earnings (loss) $ 162 $ 128 $ (2,944)
(2)
$ (201)
(2)(3)
$ (2,855)
Net earnings (loss) per share—diluted
(4)
$ 0.76 $ 0.60 $ (13.95)
(5)
$ (0.95)
(5)
$ (13.51)
Dividends declared per share $ 0.1700 $ 0.1725 $ 0.1725 $ 0.1725 $ 0.6875
Weighted average shares—diluted 214 213 211 211 211
(1) During fiscal 2010 the Company recorded charges of $39, after tax, related to the planned retail market
exits, closure of non-strategic stores announced in fiscal 2009 and fees received from the early termination
of a supply agreement of which $3, after tax, were recorded in the first quarter of fiscal 2010, $2, after
tax, were recorded in the third quarter of fiscal 2010 and $34, after tax, were recorded in the fourth quarter
of fiscal 2010.
(2) During fiscal 2009 the Company recorded goodwill and intangible asset impairment charges of $3,326,
after tax, of which $3,076, after tax, were recorded in the third quarter of fiscal 2009 and $250, after tax,
were recorded in the fourth quarter of fiscal 2009.
(3) During the fourth quarter of fiscal 2009 the Company recorded charges primarily related to closure of
non-strategic stores announced in fiscal 2009 of $121, after tax, and a pre-Acquisition Albertsons legal set-
tlement of $15, after tax.
(4) The sum of the quarterly Net earnings (loss) per share—diluted amounts does not equal the fiscal year
amount due to rounding.
(5) As a result of the net loss for the third and fourth quarters of fiscal 2009 and fiscal year 2009, all poten-
tially dilutive shares were antidilutive and therefore excluded from the calculation of Net earnings (loss)
per share—diluted.
68