Albertsons 2011 Annual Report Download - page 39

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SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS
(In millions, except per share data)
February 26, 2011
(52 weeks)
February 27, 2010
(52 weeks)
February 28, 2009
(53 weeks)
Net sales $ 37,534 $ 40,597 $ 44,564
Cost of sales 29,124 31,444 34,451
Gross profit 8,410 9,153 10,113
Selling and administrative expenses 7,516 7,952 8,746
Goodwill and intangible asset impairment
charges 1,870 — 3,524
Operating earnings (loss) (976) 1,201 (2,157)
Interest
Interest expense 554 576 633
Interest income 7 7 11
Interest expense, net 547 569 622
Earnings (loss) before income taxes (1,523) 632 (2,779)
Income tax provision (benefit) (13) 239 76
Net earnings (loss) $ (1,510) $ 393 $ (2,855)
Net earnings (loss) per share—basic $ (7.13) $ 1.86 $ (13.51)
Net earnings (loss) per share—diluted $ (7.13) $ 1.85 $ (13.51)
Weighted average number of shares
outstanding
Basic 212 212 211
Diluted 212 213 211
See Notes to Consolidated Financial Statements.
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