Safeway 2004 Annual Report Download - page 20

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18 SAFEWAY INC. 2004 ANNUAL REPORT
52 Weeks 53 Weeks 52 Weeks 52 Weeks 52 Weeks
(Dollars in millions, except per-share amounts) 2004 2003 2002 2001 2000
Results of Operations (Note 1)
Sales and other revenue $35,822.9 $35,727.2 $34,917.2 $34,434.5 $32,103.3
Gross profit 10,595.3 10,724.2 10,996.4 10,776.6 9,666.1
Operating and administrative expense (9,422.5) (9,421.2) (8,760.8) (8,047.4) (7,258.2)
Goodwill impairment charges –(729.1) (1,288.0) – –
Goodwill amortization –– – (140.4) (126.2)
Operating profit 1,172.8 573.9 947.6 2,588.8 2,281.7
Interest expense (411.2) (442.4) (430.8) (446.9) (457.2)
Other income (expense), net 32.3 9.6 15.5 (46.9) 42.0
Income before income taxes and cumulative
effect of accounting change 793.9 141.1 532.3 2,095.0 1,866.5
Income taxes (233.7) (310.9) (660.4) (841.1) (774.6)
Income (loss) before cumulative effect
of accounting change 560.2 (169.8) (128.1) 1,253.9 1,091.9
Cumulative effect of accounting change –– (700.0) – –
Net income (loss) $ 560.2 $ (169.8) $ (828.1) $ 1,253.9 $ 1,091.9
Basic earnings (loss) per share:
Income (loss) before cumulative effect
of accounting change $ 1.26 $ (0.38) $ (0.27) $ 2.49 $ 2.19
Cumulative effect of accounting change –– (1.50) – –
Net income (loss) $ 1.26 $ (0.38) $ (1.77) $ 2.49 $ 2.19
Diluted earnings (loss) per share:
Income (loss) before cumulative effect
of accounting change $ 1.25 $ (0.38) $ (0.27) $ 2.44 $ 2.13
Cumulative effect of accounting change – – (1.50) – –
Net income (loss) $ 1.25 $ (0.38) $ (1.77) $ 2.44 $ 2.13
Five-Year Summary Financial Information
SAFEWAY INC. AND SUBSIDIARIES