Safeway 2001 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2001 Safeway annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 48

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48

SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Income
19
52 Weeks 52 Weeks 52 Weeks
(In millions, except per-share amounts) 2001 2000 1999
Sales $ 34,301.0 $ 31,976.9 $ 28,859.9
Cost of goods sold (23,696.7) (22,482.4) (20,349.2)
Gross profit 10,604.3 9,494.5 8,510.7
Operating and administrative expense (7,875.1) (7,086.6) (6,411.4)
Goodwill amortization (140.4) (126.2) (101.4)
Operating profit 2,588.8 2,281.7 1,997.9
Interest expense (446.9) (457.2) (362.2)
Other (loss) income, net (46.9) 42.0 38.3
Income before income taxes 2,095.0 1,866.5 1,674.0
Income taxes (841.1) (774.6) (703.1)
Net income $ 1,253.9 $ 1,091.9 $ 970.9
Basic earnings per share $ 2.49 $ 2.19 $ 1.95
Diluted earnings per share $ 2.44 $ 2.13 $ 1.88
Weighted average shares outstanding — basic 503.3 497.9 498.6
Weighted average shares outstanding — diluted 513.2 511.6 515.4
See accompanying notes to consolidated financial statements.