Albertsons 2014 Annual Report Download - page 113
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The following is a summary of the assets and liabilities of discontinued operations as of February 23, 2013:
February 23,
2013
Assets
Cash and cash equivalents $ 77
Receivables, net 215
Inventories, net 1,155
Other current assets 47
Total current assets 1,494
Property, plant and equipment, net 3,767
Intangible assets, net 555
Other assets 655
Total assets $ 6,471
Liabilities
Accounts payable $ 652
Accrued vacation, compensation and benefits 217
Current maturities of long-term debt and capital lease obligations 212
Accrued loss on contract 1,140
Other current liabilities 480
Total current liabilities of discontinued operations 2,701
Long-term debt and capital lease obligations 2,832
Pension and other postretirement benefit obligations 109
Other long-term liabilities 850
Total liabilities 6,492
Net liabilities of discontinued operations $ (21)
Divestitures
During fiscal 2012, the Company sold 107 fuel centers which were part of the Retail Food segment, including 97
discontinued operations fuel centers. The Company received $89 in cash, primarily through discontinued
operations, and recognized a pre-tax loss of $7, of which $1 and $6 of the pre-tax loss is presented as continuing
operations and discontinued operations, respectively, related to the sale of the fuel centers.
NOTE 15—SUBSEQUENT EVENTS
On April 17, 2014, the Company entered into an amendment to the Revolving ABL Credit Facility due March
2018 (the “ABL Amendment”) that reduced the interest rates for the facility, among other things. The new rates
will be LIBOR plus 1.50 percent to LIBOR plus 2.00 percent or prime plus 0.50 percent to 1.00 percent,
depending on utilization. The ABL Amendment also eliminated the springing maturity provision that would have
accelerated the maturity of the facility to 90 days prior to May 1, 2016 if more than $250 of the Company’s 8.00
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