Albertsons 2016 Annual Report Download - page 66

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64
SUPERVALU INC. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Fiscal Years Ended
February 27,
2016
(52 weeks)
February 28,
2015
(53 weeks)
February 22,
2014
(52 weeks)
Cash flows from operating activities
Net earnings including noncontrolling interests $ 186 $ 199 $ 189
Income from discontinued operations, net of tax 8 72 176
Net earnings from continuing operations 178 127 13
Adjustments to reconcile Net earnings from continuing operations to Net cash provided by
operating activities—continuing operations:
Intangible asset impairment charge 6 — —
Asset impairment and other charges 15 4 19
Loss on debt extinguishment 10 41 175
Net gain on sale of assets and exits of surplus leases (3) (14) (17)
Depreciation and amortization 276 285 302
LIFO charge (credit) 3 8 (9)
Deferred income taxes (1) 4 (39)
Stock-based compensation 26 23 22
Net pension and other postretirement benefits cost 34 96 79
Contributions to pension and other postretirement benefit plans (40) (169) (124)
Other adjustments 26 30 34
Changes in operating assets and liabilities, net of effects from business combinations:
Receivables 22 9 (54)
Inventories (52) (124) 2
Accounts payable and accrued liabilities (30) 75 (127)
Income taxes (8) (15) (79)
Other changes in operating assets and liabilities (41) (47) (68)
Net cash provided by operating activities—continuing operations 421 333 129
Net cash provided by (used in) operating activities—discontinued operations 3 75 (101)
Net cash provided by operating activities 424 408 28
Cash flows from investing activities
Proceeds from sale of assets 7 7 14
Purchases of property, plant and equipment (261) (239) (111)
Payments for business acquisition (9) (55) —
Other (25) 2 11
Net cash used in investing activities—continuing operations (288) (285) (86)
Net cash provided by (used in) investing activities—discontinued operations — — 135
Net cash (used in) provided by investing activities (288) (285) 49
Cash flows from financing activities
Proceeds from issuance of debt 138 350 2,098
Proceeds from the sale of common stock 10 7 177
Payments of debt and capital lease obligations (321) (400) (2,221)
Payments for debt financing costs (9) (42) (151)
Distributions to noncontrolling interests (10) (8) (9)
Other (1) 1 (1)
Net cash used in financing activities—continuing operations (193) (92) (107)
Net cash used in financing activities—discontinued operations — — (36)
Net cash used in financing activities (193) (92) (143)
Net (decrease) increase in cash and cash equivalents (57) 31 (66)
Cash and cash equivalents at beginning of year 114 83 149
Cash and cash equivalents of continuing operations at end of year $ 57 $ 114 $ 83
SUPPLEMENTAL CASH FLOW INFORMATION
The Company’s non-cash activities were as follows:
Purchases of property, plant and equipment included in Accounts payable $ 28 $ 21 $ 19
Capital lease asset additions $ 20 $ 1 $ 2
Interest and income taxes paid:
Interest paid, net of amounts capitalized $ 176 $ 180 $ 227
Income taxes paid (refunded), net $ 91 $ (7) $ 118
See Notes to Consolidated Financial Statements.