Albertsons 2016 Annual Report Download - page 74

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72
Revisions
In the first quarter of fiscal 2016, the Company completed an assessment of its revenue and expense presentation primarily
related to professional services and certain other transactions. Expenses related to transactions in which the Company
determined it was the principal were previously presented net of related revenues within Net sales in the Consolidated
Statements of Operations. The presentation of these expenses has been revised to include them within Cost of sales and Selling
and administrative expenses. These revisions had the effect of increasing Net sales with a corresponding increase to Cost of
sales and Selling and administrative expenses. These revisions did not impact Operating earnings, Earnings from continuing
operations before income taxes, Net earnings attributable to SUPERVALU INC., cash flows, or financial position for any
period reported. These revisions have similarly impacted the Company's Consolidated Financial Statements across fiscal
periods. Management determined that these revisions are not material to any period reported. Prior period amounts have been
revised to conform to the current period presentation as shown below.
The following tables present the impact of these revisions on the Company's previously reported results, and the revised
amounts as reported in this Annual Report on Form 10-K:
February 28, 2015
(53 weeks) February 22, 2014
(52 weeks)
As
Originally
Reported Revision As Revised
As
Originally
Reported Revision As Revised
Net sales $ 17,820 $ 97 $ 17,917 $ 17,153 $ 99 $ 17,252
Cost of sales 15,242 87 15,329 14,623 89 14,712
Gross profit 2,578 10 2,588 2,530 10 2,540
Selling and administrative expenses 2,154 10 2,164 2,107 10 2,117
Operating earnings $ 424 $ — $ 424 $ 423 $ — $ 423
February 28, 2015
(53 weeks) February 22, 2014
(52 weeks)
As
Originally
Reported Revision As Revised
As
Originally
Reported Revision As Revised
Net sales
Wholesale $ 8,134 $ 64 $ 8,198 $ 8,036 $ 66 $ 8,102
% of total 45.6% 0.2 % 45.8% 46.9% 0.1 % 47.0%
Save-A-Lot 4,613 28 4,641 4,228 27 4,255
% of total 25.9% (0.1)% 25.8% 24.6% — % 24.6%
Retail 4,879 5 4,884 4,649 6 4,655
% of total 27.4% (0.1)% 27.3% 27.1% (0.1)% 27.0%
Corporate 194 — 194 240 — 240
% of total 1.1% — % 1.1% 1.4% — % 1.4%
Total net sales $ 17,820 $ 97 $ 17,917 $ 17,153 $ 99 $ 17,252
100.0% — % 100.0% 100.0% — % 100.0%
Reclassifications
In fiscal 2016, losses on the early termination of debt are included in the Consolidated Statements of Cash Flows as a separate
line item entitled Loss on debt extinguishment. In prior years, losses on the early termination of debt were classified as Asset
impairment and other charges. Prior year amounts have been reclassified to conform to current year presentation. These
reclassifications did not impact net cash provided by operating activities or net cash from investing activities or financing
activities for any period presented.