Albertsons 2016 Annual Report Download - page 62

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60
SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share data)
Fiscal Years Ended
February 27, 2016
(52 weeks) February 28, 2015
(53 weeks) February 22, 2014
(52 weeks)
Net sales $ 17,529 $ 17,917 $ 17,252
Cost of sales 14,945 15,329 14,712
Gross profit 2,584 2,588 2,540
Selling and administrative expenses 2,124 2,164 2,117
Intangible asset impairment charge 6——
Operating earnings 454 424 423
Interest expense, net 196 243 407
Equity in earnings of unconsolidated affiliates (5) (4) (2)
Earnings from continuing operations before income taxes 263 185 18
Income tax provision 85 58 5
Net earnings from continuing operations 178 127 13
Income from discontinued operations, net of tax 8 72 176
Net earnings including noncontrolling interests 186 199 189
Less net earnings attributable to noncontrolling interests (8) (7) (7)
Net earnings attributable to SUPERVALU INC. $ 178 $ 192 $ 182
Basic net earnings per share attributable to SUPERVALU INC.:
Continuing operations $ 0.64 $ 0.46 $ 0.02
Discontinued operations $ 0.03 $ 0.28 $ 0.69
Basic net earnings per share $ 0.68 $ 0.74 $ 0.71
Diluted net earnings per share attributable to SUPERVALU INC.:
Continuing operations $ 0.63 $ 0.45 $ 0.02
Discontinued operations $ 0.03 $ 0.27 $ 0.68
Diluted net earnings per share $ 0.66 $ 0.73 $ 0.70
Weighted average number of shares outstanding:
Basic 263 260 255
Diluted 268 264 258
See Notes to Consolidated Financial Statements.