Safeway 2007 Annual Report Download - page 61

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SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In millions)
52 Weeks
2007
52 Weeks
2006
52 Weeks
2005
Operating Activities:
Net income $ 888.4 $ 870.6 $ 561.1
Reconciliation to net cash flow from operating activities:
Depreciation and amortization 1,071.2 991.4 932.7
Property impairment charges 27.1 39.2 78.9
Stock-based employee compensation 48.4 51.2 59.7
Excess tax benefit from exercise of stock options (38.3) (6.3) (8.0)
LIFO expense (income) 13.9 1.2 (0.2)
Equity in earnings of unconsolidated affiliates (8.7) (21.1) (15.8)
Net pension expense 72.1 83.1 115.6
Contributions to pension plans (33.0) (29.2) (18.1)
(Gain) loss on property retirements and lease exit costs, net (42.3) (17.8) 13.6
(Decrease) increase in accrued claims and other liabilities (5.8) 10.8 44.1
Deferred income taxes 130.8 1.1 (215.9)
Amortization of deferred finance costs 5.3 5.8 7.5
Other 15.8 7.3 6.9
Changes in working capital items:
Receivables (3.0) (45.1) (1.0)
Inventories at FIFO cost (102.1) 96.9 (7.7)
Prepaid expenses and other current assets (22.7) (9.3) 37.1
Income taxes (8.7) (14.9) (120.8)
Payables and accruals 98.0 89.0 363.1
Payables related to third-party gift cards, net of receivables 84.1 71.1 48.2
Net cash flow from operating activities 2,190.5 2,175.0 1,881.0
Investing Activities:
Cash paid for property additions (1,768.7) (1,674.2) (1,383.5)
Proceeds from sale of property 140.0 80.1 105.1
Cash used to acquire businesses –(83.8) –
Other (57.7) (56.8) (35.1)
Net cash used by investing activities (1,686.4) (1,734.7) (1,313.5)
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