Safeway 2000 Annual Report Download - page 47

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Safeway Inc. and Subsidiaries
45
THE BOARD OF DIRECTORS AND
STOCKHOLDERS OF SAFEWAY INC:
We have audited the accompanying consolidated balance
sheets of Safeway Inc. and subsidiaries as of December 30,
2000 and January 1, 2000, and the related consolidated
statements of income, stockholders’ equity and cash flows for
each of the three fiscal years in the period ended December
30, 2000. These financial statements are the responsibility of
the Company’s management. Our responsibility is to express
an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing
standards generally accepted in the United States of America.
Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used
and significant estimates made by management, as well as
evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for
our opinion.
In our opinion, such consolidated financial statements
present fairly, in all material respects, the financial position
of Safeway Inc. and subsidiaries as of December 30, 2000
and January 1, 2000, and the results of their operations
and their cash flows for each of the three fiscal years in
the period ended December 30, 2000 in conformity with
accounting principles generally accepted in the United
States of America.
San Francisco, California
February 22, 2001
INDEPENDENT AUDITORS’REPORT