Albertsons 2013 Annual Report Download - page 82

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NOTE 10—TREASURY STOCK PURCHASE PROGRAM
On June 24, 2010, the Board of Directors of the Company adopted and announced a new annual share purchase
program authorizing the Company to purchase up to $70 of the Company’s common stock. Stock purchases will
be made primarily from the cash generated from the settlement of stock options. This annual authorization
program replaced the previously existing share purchase program and expired June 30, 2011.
During fiscal 2011, the Company purchased 0.2 shares under the previously existing share purchase program at
an average cost of $12.97 per share. The Company did not purchase any shares during fiscal 2013 or 2012.
NOTE 11—NET LOSS PER SHARE
The following table reflects the calculation of basic and diluted net loss per share:
2013 2012 2011
Net loss per share from continuing operations—basic:
Net loss from continuing operations available to common stockholders $ (263) $ (110) $ (200)
Weighted average shares outstanding—basic 212 212 212
Net loss per share from continuing operations—basic $ (1.24) $ (0.52) $ (0.94)
Net loss per share from continuing operations—diluted:
Net loss from continuing operations used for diluted net earnings per
share calculation $ (263) $ (110) $ (200)
Weighted average shares outstanding—basic 212 212 212
Dilutive impact of options and restricted stock outstanding — — —
Weighted average shares outstanding—diluted 212 212 212
Net loss per share from continuing operations—diluted $ (1.24) $ (0.52) $ (0.94)
Options and restricted stock of 25, 21 and 24 shares were outstanding during fiscal 2013, 2012 and 2011,
respectively, but were excluded from the computation of diluted net loss per share because they were antidilutive.
NOTE 12—BENEFIT PLANS
Substantially all employees of the Company and its subsidiaries are covered by various contributory and non-
contributory pension, profit sharing or 401(k) plans. Most union employees participate in multiemployer
retirement plans under collective bargaining agreements, unless the collective bargaining agreement provides for
participation in plans sponsored by the Company. In addition to sponsoring both defined benefit and defined
contribution pension plans, the Company provides healthcare and life insurance benefits for eligible retired
employees under postretirement benefit plans. The Company also provides certain health and welfare benefits,
including short-term and long-term disability benefits to inactive disabled employees prior to retirement. The
terms of the postretirement benefit plans vary based on employment history, age and date of retirement. For
many retirees, the Company provides a fixed dollar contribution and retirees pay contributions to fund the
remaining cost.
Effective December 31, 2007, the Company authorized amendments to the SUPERVALU Retirement Plan and
certain supplemental executive retirement benefit plans whereby service crediting ended in these plans and no
employees will become eligible to participate in these plans after December 31, 2007. Pay increases continued to
be reflected in the amount of benefit earned in these plans until December 31, 2012.
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