Albertsons 2015 Annual Report Download - page 100

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98
UNAUDITED QUARTERLY FINANCIAL INFORMATION
(In millions, except per share data)
Unaudited quarterly financial information for SUPERVALU INC. and subsidiaries is as follows:
2015
First
(16 weeks)
Second
(12 weeks)
Third
(12 weeks)
Fourth
(13 weeks)
Fiscal Year
(53 weeks)
Net sales $ 5,234 $ 4,018 $ 4,204 $ 4,364 $ 17,820
Gross profit $ 752 $ 572 $ 593 $ 661 $ 2,578
Net earnings from continuing operations(1) $ 48 $ 31 $ 12 $ 36 $ 127
Net earnings attributable to SUPERVALU INC. $ 43 $ 31 $ 79 $ 39 $ 192
Net earnings per share from continuing operations
attributable to SUPERVALU INC.—diluted(1) $ 0.18 $ 0.11 $ 0.04 $ 0.13 $ 0.45
Net earnings per share attributable to SUPERVALU INC.
—diluted $ 0.17 $ 0.11 $ 0.30 $ 0.14 $ 0.73
Dividends declared per share $ — $ — $ — $ — $ —
Weighted average shares—diluted 262 264 265 266 264
2014
First
(16 weeks)
Second
(12 weeks)
Third
(12 weeks)
Fourth
(12 weeks)
Fiscal Year
(52 weeks)
Net sales(2) $ 5,241 $ 3,947 $ 4,012 $ 3,953 $ 17,153
Gross profit(2) $ 795 $ 576 $ 569 $ 590 $ 2,530
Net loss from continuing operations(2)(4) $(102) $ 40 $ 33 $ 42 $ 13
Net earnings attributable to SUPERVALU INC. $ 85 $ 40 $ 31 $ 26 $ 182
Net (loss) earnings per share from continuing operations
attributable to SUPERVALU INC.—diluted(3)(4) $(0.43) $ 0.15 $ 0.12 $ 0.15 $ 0.02
Net earnings per share attributable to SUPERVALU INC.
—diluted $ 0.34 $ 0.15 $ 0.12 $ 0.10 $ 0.70
Dividends declared per share $ — $ — $ — $ — $ —
Weighted average shares—diluted 250 261 262 261 258
(1) Results from continuing operations for the fiscal year ended February 28, 2015 include net charges and costs of $118
before tax ($70 after tax, or $0.27 per diluted share), comprised of pension settlement charges of $64 before tax ($36 after
tax, or $0.14 per diluted share), a benefit plan charge of $5 before tax ($3 after tax, or $0.01 per diluted share), store
closure charges of $3 before tax ($2 after tax, or $0.01 per diluted share), information technology intrusion costs, net of
insurance recoverable, of $2 before tax ($1 after tax, or $0.01 per diluted share) and severance costs of $1 before tax ($1
after tax, or $0.00 per diluted share) included within Selling and administrative expenses, and debt refinancing costs of $37
before tax ($23 after tax, or $0.08 per diluted share) and unamortized financing cost charges of $6 before tax ($4 after tax,
or $0.02 per diluted share) included within Interest expense, net.
(2) In the first quarter of fiscal 2015, the Company revised the presentation of noncontrolling interests and equity in earnings
of unconsolidated affiliates as reflected in the Consolidated Financial Statements. Prior period information has been
revised to conform with the current year presentation. Refer to Note 1—Summary of Significant Accounting Policies for
additional information.
(3) As a result of the net loss for the first quarter during fiscal 2014, all potentially dilutive shares were antidilutive and
therefore excluded from the calculation of Net loss per share from continuing operations—diluted for this quarter.
(4) Results from continuing operations for the fiscal year ended February 22, 2014 include net costs and charges of $235
before tax ($144 after tax, or $0.56 per diluted share), comprised of charges for the write-off of non-cash unamortized
financing costs and original issue discount acceleration of $99 before tax ($60 after tax, or $0.24 per diluted share) and
debt refinancing costs of $75 before tax ($47 after tax, or $0.18 per diluted share) recorded in Interest expense, net,
severance costs and accelerated stock-based compensation charges of $46 before tax ($29 after tax, or $0.11 per diluted
share), non-cash asset impairment and other charges of $16 before tax ($11 after tax, or $0.04 per diluted share), contract
breakage and other costs of $6 before tax ($2 after tax, or $0.01 per diluted share) and a legal settlement charge of $5
before tax ($3 after tax, or $0.01 per diluted share) recorded in Selling and administrative expenses, and a multi-employer
pension withdrawal charge of $3 before tax ($2 after tax, or $0.01 per diluted share) recorded in Gross profit, offset in part