Albertsons 2015 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2015 Albertsons annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

61
SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Fiscal Years Ended
February 28,
2015
(53 weeks)
February 22,
2014
(52 weeks)
February 23,
2013
(52 weeks)
Cash flows from operating activities
Net earnings (loss) including noncontrolling interests $ 199 $ 189 $ (1,456)
Income (loss) from discontinued operations, net of tax 72 176 (1,203)
Net earnings (loss) from continuing operations 127 13 (253)
Adjustments to reconcile Net earnings (loss) from continuing operations to Net cash
provided by operating activities—continuing operations:
Goodwill and intangible asset impairment charges — — 6
Asset impairment and other charges 45 194 283
Net gain on sale of assets and exits of surplus leases (14) (17) (6)
Depreciation and amortization 285 302 365
LIFO charge (credit) 8 (9) 4
Deferred income taxes 4 (39) (50)
Stock-based compensation 23 22 13
Net pension and other postretirement benefits cost 96 79 102
Contributions to pension and other postretirement benefit plans (169) (124) (98)
Other adjustments 30 34 26
Changes in operating assets and liabilities, net of effects from business combinations:
Receivables 9 (54) 30
Inventories (124) 2 51
Accounts payable and accrued liabilities 75 (127) (69)
Income taxes (15) (79) 75
Other changes in operating assets and liabilities (47) (68) (52)
Net cash provided by operating activities—continuing operations 333 129 427
Net cash provided by (used in) operating activities—discontinued operations 75 (101) 481
Net cash provided by operating activities 408 28 908
Cash flows from investing activities
Proceeds from sale of assets 7 14 38
Purchases of property, plant and equipment (239) (111) (228)
Payments for business acquisition (55) — —
Other 2 11 1
Net cash used in investing activities—continuing operations (285) (86) (189)
Net cash provided by (used in) investing activities—discontinued operations — 135 (175)
Net cash (used in) provided by investing activities (285) 49 (364)
Cash flows from financing activities
Proceeds from issuance of debt 350 2,098 1,713
Proceeds from the sale of common stock 7 177 —
Payments of debt and capital lease obligations (400) (2,221) (2,099)
Payments for debt financing costs (42) (151) (66)
Distributions to noncontrolling interests (8) (9) (10)
Dividends paid — — (37)
Other 1 (1) (7)
Net cash used in financing activities—continuing operations (92) (107) (506)
Net cash used in financing activities—discontinued operations — (36) (46)
Net cash used in financing activities (92) (143) (552)
Net increase (decrease) in cash and cash equivalents 31 (66) (8)
Cash and cash equivalents at beginning of year 83 149 157
Cash and cash equivalents at end of year $ 114 $ 83 $ 149
Less cash and cash equivalents of discontinued operations at end of year — — (77)
Cash and cash equivalents of continuing operations at end of year $ 114 $ 83 $ 72
SUPPLEMENTAL CASH FLOW INFORMATION
The Company’s non-cash activities were as follows:
Capital lease asset additions $ 1 $ 2 $ 13
Purchases of property, plant and equipment included in Accounts payable $ 21 $ 19 $ 10
Interest and income taxes paid:
Interest paid, net of amounts capitalized $ 180 $ 227 $ 232
Income taxes (refunded) paid, net $ (7) $ 118 $ 31
See Notes to Consolidated Financial Statements.