Albertsons 2015 Annual Report Download - page 29

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ITEM 6. SELECTED FINANCIAL DATA
(Dollars and shares in millions,
except per share data and stores)
2015
(53 weeks)
2014(1)
(52 weeks)
2013(1)
(52 weeks)
2012(1)
(52 weeks)
2011(1)
(52 weeks)
Results of Operations
Net sales $ 17,820 $ 17,153 $ 17,136 $ 17,378 $ 17,403
Cost of sales 15,242 14,623 14,803 14,926 14,957
Gross profit 2,578 2,530 2,333 2,452 2,446
Selling and administrative expenses 2,154 2,107 2,477 2,256 2,363
Goodwill and intangible asset impairment charges — — 6 92 110
Operating earnings (loss)(2) 424 423 (150) 104 (27)
Interest expense, net(3) 243 407 269 247 230
Equity earnings in unconsolidated affiliates (4) (2) (3) (5) (4)
Earnings (loss) from continuing operations before income taxes(2)(3) 185 18 (416) (138) (253)
Income tax provision (benefit) 58 5 (163) (41) (60)
Net earnings (loss) from continuing operations 127 13 (253) (97) (193)
Income (loss) from discontinued operations, net of tax 72 176 (1,203) (930) (1,310)
Net earnings (loss) including noncontrolling interests 199 189 (1,456) (1,027) (1,503)
Less net earnings attributable to noncontrolling interests (7) (7) (10) (13) (7)
Net earnings attributable to SUPERVALU INC. $ 192 $ 182 $ (1,466) $ (1,040) $ (1,510)
Net earnings (loss) from continuing operations per share—diluted(2)(3) $ 0.45 $ 0.02 $ (1.24) $ (0.52) $ (0.94)
Financial Position of Continuing Operations
Working capital(4) $ 378 $ 254 $ 38 $ (169) $ (269)
Total assets(5) $ 4,485 $ 4,374 $ 4,563 $ 5,057 $ 5,062
Total debt and capital lease obligations $ 2,728 $ 2,777 $ 2,889 $ 3,226 $ 3,654
Stockholders’ (deficit) equity $ (646) $ (738) $ (1,415) $ 21 $ 1,340
Other Statistics
Dividends declared per share $ — $ — $ 0.0875 $ 0.3500 $ 0.3500
Weighted average shares outstanding—diluted(6) 264 258 212 212 212
Depreciation and amortization $ 285 $ 302 $ 365 $ 355 $ 354
Capital expenditures(7) $ 240 $ 113 $ 241 $ 403 $ 323
Adjusted EBITDA(8) $ 789 $ 772 $ 493 $ 574 $ 526
Stores Supplied and Operated:
Independent Business Primary Stores 1,825 1,819 1,901 1,948 1,902
Independent Business Secondary Stores 208 424 441 765 796
Save-A-Lot licensee stores 903 948 950 935 899
Save-A-Lot corporate stores 431 382 381 397 381
Retail Food stores 194 190 191 191 193
Total number of stores 3,561 3,763 3,864 4,236 4,171
(1) The presentation of noncontrolling interests and equity earnings in unconsolidated affiliates has been revised to conform
with the current year presentation. Refer to Note 1—Summary of Significant Accounting Policies within Part II, Item 8 of
this Annual Report on Form 10-K for additional information.
(2) Pre-tax items recorded in fiscal 2015 included $64 of non-cash pension settlement charges, a $5 benefit plan charge, $3 of
store closure charges, $2 of net information technology intrusion costs and $1 of severance costs.
Pre-tax items recorded in fiscal 2014 included $46 of severance costs and accelerated stock-based compensation charges,
$16 of non-cash asset impairment and other charges, $6 of contract breakage and other costs, a $5 legal settlement charge,
and a $3 multi-employer pension withdrawal charge, offset in part by a $15 gain on sale of property.
Pre-tax items recorded in fiscal 2013 included $227 of non-cash asset impairment and other charges, $36 of severance
costs and a multiemployer pension withdrawal charge, $22 of store closure impairment charges and costs and $6 of non-
cash intangible asset impairment charges, offset in part by $10 in a cash settlement received from credit card companies.
Pre-tax items recorded in fiscal 2012 included $92 of non-cash goodwill impairment charges and severance costs of $15.
Pre-tax items recorded in fiscal 2011 included $110 of non-cash goodwill impairment charges, $49 of store closure and
retail market exit charges and costs, and $38 of charges for severance, labor buyout and other costs.