Kroger 2014 Annual Report Download - page 138

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A-73
NO T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S , CO N T I N U E D
19 . Q U A R T E R L Y D A T A ( U N A U D I T E D )
The two tables that follow reflect the unaudited results of operations for 2014 and 2013.
Quarter
2014
First
(16 Weeks)
Second
(12 Weeks)
Third
(12 Weeks)
Fourth
(12 Weeks)
Total Year
(52 Weeks)
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $32,961 $25,310 $24,987 $25,207 $108,465
Merchandise costs, including advertising,
warehousing, and transportation, excluding
items shown separately below . . . . . . . . . . . . . . 26,065 20,136 19,764 19,547 85,512
Operating, general and administrative . . . . . . . . . . 5,168 3,920 3,954 4,119 17,161
Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217 166 162 162 707
Depreciation and amortization . . . . . . . . . . . . . . . . 581 444 456 467 1,948
Operating profit . . . . . . . . . . . . . . . . . . . . . . . . . . 930 644 651 912 3,137
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 112 114 115 488
Earnings before income tax expense . . . . . . . . . 783 532 537 797 2,649
Income tax expense . . . . . . . . . . . . . . . . . . . . . . . . . 274 182 172 274 902
Net earnings including noncontrolling interests . . . 509 350 365 523 1,747
Net earnings attributable to
noncontrolling interests . . . . . . . . . . . . . . . . . . . . 8 3 3 5 19
Net earnings attributable to The Kroger Co. . . . . . . $ 501 $ 347 $ 362 $ 518 $ 1,728
Net earnings attributable to The Kroger Co. per
basic common share . . . . . . . . . . . . . . . . . . . . . . $ 0.99 $ 0.71 $ 0.74 $ 1.06 $ 3.49
Average number of shares used in
basic calculation . . . . . . . . . . . . . . . . . . . . . . . . . . 501 485 486 486 490
Net earnings attributable to The Kroger Co. per
diluted common share . . . . . . . . . . . . . . . . . . . . . $ 0.98 $ 0.70 $ 0.73 $ 1.04 $ 3.44
Average number of shares used in
diluted calculation . . . . . . . . . . . . . . . . . . . . . . . . 507 491 492 493 497
Dividends declared per common share . . . . . . . . . $ 0.165 $ 0.165 $ 0.185 $ 0.185 $ 0.700
Annual amounts may not sum due to rounding.
In the first quarter of 2014, the Company incurred a $87 charge to OG&A expenses due to commitments
and withdrawal liabilities arising from restructuring of certain pension plan agreements to help stabilize
associates’ future benefits.
In the third quarter of 2014, the Company incurred a $25 charge to OG&A expenses due to contributions
to the Company’s charitable foundation and a $17 benefit to income tax expense due to certain tax items.
In the fourth quarter of 2014, the Company incurred a $60 charge to OG&A expenses due to contributions
to the Company’s charitable foundation and a $55 charge to OG&A expenses for contributions to the UFCW
Consolidated Pension Plan.