Safeway 1997 Annual Report Download - page 25

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22
53 Weeks 52 Weeks 52 Weeks
(In millions) 1997 1996 1995
■■■■■■■
Cash Flow from Operations
Net income $ 557.4 $ 460.6 $ 326.3
Reconciliation to net cash flow from operations:
Extraordinary loss related to early retirement of debt,
before income tax benefit 105.2 – 3.3
Depreciation and amortization 455.8 338.5 329.7
Amortization of deferred finance costs 1.7 1.8 4.0
Deferred income taxes 55.9 113.9 (15.8)
LIFO (income) expense (6.1) 4.9 9.5
Equity in earnings of unconsolidated affiliates (34.9) (50.0) (26.9)
Net pension (income) expense (4.1) 4.2 7.6
Contributions to Canadian pension plan (10.0) (10.6) (10.3)
Increase (decrease) in accrued claims
and other liabilities (13.9) (17.6) 19.0
Loss (gain) on property retirements (12.4) (12.6) 20.4
Changes in working capital items:
Receivables 25.8 (8.5) (3.8)
Inventories at FIFO cost 37.5 (99.3) (55.4)
Prepaid expenses and other current assets 2.7 (35.1) (2.9)
Payables and accruals 61.0 135.0 53.0
■■■■■■■
Net cash flow from operations 1,221.6 825.2 657.7
■■■■■■■
Cash Flow from Investing Activities
Cash paid for property additions (758.2) (541.8) (450.9)
Proceeds from sale of property and operations 75.6 60.8 54.8
Net cash acquired in acquisition
of The Vons Companies, Inc. 55.3 ––
Other 19.6 (1.3) (29.6)
■■■■■■■
Net cash flow used by investing activities (607.7) (482.3) (425.7)
■■■■■■■
SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows