Safeway 2001 Annual Report Download - page 45

Download and view the complete annual report

Please find page 45 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

43
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 29, 2001 and
December 30, 2000, and the related consolidated statements of
income, stockholders’ equity and of cash flows for each of the
three fiscal years in the period ended December 29, 2001. 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 stan-
dards 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 pre-
sent fairly, in all material respects, the financial position of
Safeway Inc. and subsidiaries as of December 29, 2001 and
December 30, 2000, and the results of their operations and their
cash flows for each of the three fiscal years in the period ended
December 29, 2001 in conformity with accounting principles
generally accepted in the United States of America.
San Francisco, California
March 8, 2002
SAFEWAY INC. AND SUBSIDIARIES
Independent Auditors’ Report