Safeway 1999 Annual Report Download - page 26

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24
SAFEWAY INC. AND SUBSIDIARIES
CONSOLIDATED STATEM ENTS OF CASH FLOWS
Cash Flow from Operations:
Net income $ 970.9 $ 806.7 $ 557.4
Reconciliation to net cash flow from operations:
Extraordinary loss related to early retirement of debt,
before income tax benefit ––105.2
Depreciation and amortization 695.6 531.4 455.8
Amortization of deferred finance costs 4.8 1.6 1.7
Deferred income taxes 244.7 59.4 55.9
LIFO expense (income) 1.2 7.1 (6.1)
Equity in earnings of unconsolidated affiliates (34.5) (28.5) (34.9)
Net pension income (35.1) (18.3) (4.1)
Contributions to Canadian pension plan (0.9) (6.8) (10.0)
Decrease in accrued claims and other liabilities (8.4) (17.5) (13.9)
(Gain) loss on property retirements (30.6) 13.3 (12.4)
Changes in working capital items:
Receivables (31.9) (5.5) 25.8
Inventories at FIFO cost (283.1) (48.0) 37.5
Prepaid expenses and other current assets 23.0 (36.9) 2.7
Payables and accruals (27.3) (5.3) 61.0
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Net cash flow from operations 1,488.4 1,252.7 1,221.6
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Cash Flow from Investing Activities:
Cash paid for property additions (1,333.6) (1,075.2) (758.2)
Proceeds from sale of property 143.5 47.6 75.6
Net cash used to acquire Randall’s(729.8) ––
Net cash used to acquire Carrs (94.4) ––
Net cash used to acquire Dominick’s–(1,144.9) –
Net cash acquired in merger with Vons ––55.3
Other (50.0) (13.9) 19.6
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Net cash flow used by investing activities (2,064.3) (2,186.4) (607.7)
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52 Weeks 52 Weeks 53 Weeks
(In millions) 1999 1998 1997