Safeway 2004 Annual Report Download - page 31

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SAFEWAY INC. 2004 ANNUAL REPORT 29
SAFEWAY INC. AND SUBSIDIARIES
52 Weeks 53 Weeks 52 Weeks
(In millions, except per-share amounts) 2004 2003 2002
Sales and other revenue $ 35,822.9 $ 35,727.2 $ 34,917.2
Cost of goods sold (25,227.6) (25,003.0) (23,920.8)
Gross profit 10,595.3 10,724.2 10,996.4
Operating and administrative expense (9,422.5) (9,421.2) (8,760.8)
Goodwill impairment charges –(729.1) (1,288.0)
Operating profit 1,172.8 573.9 947.6
Interest expense (411.2) (442.4) (430.8)
Other income, net 32.3 9.6 15.5
Income before income taxes and
cumulative effect of accounting change 793.9 141.1 532.3
Income taxes (233.7) (310.9) (660.4)
Income (loss) before cumulative effect of
accounting change 560.2 (169.8) (128.1)
Cumulative effect of accounting change ––(700.0)
Net income (loss) $ 560.2 $ (169.8) $ (828.1)
Basic earnings (loss) per share:
Income (loss) before cumulative effect of
accounting change $ 1.26 $ (0.38) $ (0.27)
Cumulative effect of accounting change ––(1.50)
Net income (loss) $ 1.26 $ (0.38) $ (1.77)
Diluted earnings (loss) per share:
Income (loss) before cumulative effect of
accounting change $ 1.25 $ (0.38) $ (0.27)
Cumulative effect of accounting change ––(1.50)
Net income (loss) $ 1.25 $ (0.38) $ (1.77)
Weighted average shares outstanding – basic 445.6 441.9 467.3
Weighted average shares outstanding – diluted 449.1 441.9 467.3
See accompanying notes to consolidated financial statements.
Consolidated Statements of Operations