Safeway 2000 Annual Report Download - page 25

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23
Sales $ 31,976.9 $ 28,859.9 $ 24,484.2
Cost of goods sold (22,482.4) (20,349.2) (17,359.7)
Gross profit 9,494.5 8,510.7 7,124.5
Operating and administrative expense (7,086.6) (6,411.4) (5,466.5)
Goodwill amortization (126.2) (101.4) (56.3)
Operating profit 2,281.7 1,997.9 1,601.7
Interest expense (457.2) (362.2) (235.0)
Equity in earnings of unconsolidated affiliate 31.2 34.5 28.5
Other income, net 10.8 3.8 1.7
Income before income taxes 1,866.5 1,674.0 1,396.9
Income taxes (774.6) (703.1) (590.2)
Net income $ 1,091.9 $ 970.9 $ 806.7
Basic earnings per share $ 2.19 $ 1.95 $ 1.67
Diluted earnings per share $ 2.13 $ 1.88 $ 1.59
Weighted average shares outstanding – basic 497.9 498.6 482.8
Weighted average shares outstanding – diluted 511.6 515.4 508.8
See accompanying notes to consolidated financial statements.
52 Weeks 52 Weeks 52 Weeks
(In millions, except per-share amounts) 2000 1999 1998
Safeway Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF INCOME