Albertsons 2011 Annual Report Download - page 2

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Net Sales
(In billions)
Adjusted Net Earnings
Per Diluted Share(2)
2011
$37.5
28.9
2010
$40.6
31.6
2010
$2.03
2011
$1.39
Total Debt
(In billions)
2010
$7.635
2011
$6.751
Retail
Supply Chain
9.0 8.6
52 Weeks Ended
February 27, 2010
52 Weeks Ended
February 26, 2011
Net Sales
Retail $31,637 $28,911
Supply Chain $8,960 $8,623
Total Net Sales $40,597 $37,534
Operating Earnings (Loss)
Retail $989 ($1,212)
Supply Chain $299 $337
Total Operating Earnings (Loss) $1,201 ($976)
Impairment and Other Charges (1) $63 $1,987
Adjusted Operating Earnings (2) $1,264 $1,011
Net Earnings (Loss) $393 ($1,510)
Net Earnings (Loss) Per Diluted Share $1.85 ($7.13)
Impairment and Other Charges Per Share (1) $0.18 $8.52)
Adjusted Net Earnings Per Diluted Share (2) $2.03 $1.39)
(1) Fiscal 2010 charges included costs related to the closure of non-strategic stores ($21 million pre-tax or $0.06 per share),
charges for retail market exits in Cincinnati and Connecticut ($55 milliion pre-tax or $0.16 per share), and fees received from
the early termination of a supply agreement ($13 million pre-tax or $0.04 per share). Fiscal 2011 charges included impairment
charges ($1,870 million pre-tax or $8.23 per share), costs for store closures and retail market exits ($99 million pre-tax or $0.37
per share), severance, labor buyout, and other costs including the impact of a strike at Shaw’s® ($80 million pre-tax or $0.23
per share) and the gain on sale of Total Logistic Control ($62 million pre-tax or $0.31 per share).
(2) Comparison of GAAP to Non-GAAP Adjusted Financial Measures. The Non-GAAP adjusted operating earnings and
adjusted net earnings per diluted share are provided to assist in understanding the impact of the impairment and other
charges on actual results when compared with prior periods. We believe that adjusting for the impairment and other charges
will assist investors in making an evaluation of our performance. This information should not be construed as an alternative
to the reported results, which have been determined in accordance with accounting principles generally accepted in the
United States of America.
Financial Highlights
(In millions except per share data)