Albertsons 2014 Annual Report Download - page 96

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2014 2013 2012
Net earnings (loss) available to common stockholders $ 182 $ (1,466) $ (1,040)
Weighted average shares outstanding—basic 255 212 212
Dilutive impact of stock-based awards 3 — —
Weighted average shares outstanding—diluted 258 212 212
Net earnings (loss) per share—diluted $ 0.70 $ (6.91) $ (4.91)
Stock-based awards of 18, 25 and 21 were outstanding during fiscal 2014, 2013 and 2012, respectively, but were
excluded from the calculation of Net earnings (loss) from continuing operations per share—diluted, Net earnings
(loss) from discontinued operations per share—diluted and Net earnings (loss) per share—diluted for the periods
because their inclusion would be antidilutive.
NOTE 11—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. The Company’s primary defined benefit pension plan, the
SUPERVALU Retirement Plan, and certain supplemental executive retirement plans were closed to new
participants and service crediting ended for all participants as of December 31, 2007. Pay increases were
reflected in the amount of benefit earned in these plans until December 31, 2012. 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 February 21, 2014, the Company amended the SUPERVALU Retiree Benefit Plan to modify the
Company’s subsidies for all participants (current and former employees) who are not subject to a collective
bargaining agreement which specifies a different benefit and who terminate employment on or after January 1,
2016. The result of this amendment was a reduction in the other postretirement benefit obligations of $11 with a
corresponding decrease to Accumulated other comprehensive loss, net of tax.
Effective August 23, 2011, the Company amended the SUPERVALU Retiree Benefit Plan to modify benefits
provided by the plan. The result of this amendment was a reduction in the other postretirement benefit obligation
of $39 with a corresponding decrease to Accumulated other comprehensive loss, net of tax.
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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