Safeway 2009 Annual Report Download - page 58

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SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In millions)
52 Weeks
2009
53 Weeks
2008
52 Weeks
2007
Operating Activities:
Net (loss) income $ (1,097.5) $ 965.3 $ 888.4
Reconciliation to net cash flow from operating activities:
Goodwill impairment charge 1,974.2 ––
Depreciation expense 1,171.2 1,141.1 1,071.2
Property impairment charges 73.7 40.3 27.1
Stock option expense 57.4 62.3 48.4
Excess tax benefit from exercise of stock options (0.1) (1.5) (38.3)
LIFO (income) expense (35.2) 34.9 13.9
Equity in (earnings) losses of unconsolidated affiliate (8.5) 2.5 (8.7)
Net pension expense 130.2 84.6 72.1
Contributions to pension plans (16.7) (33.8) (33.0)
Loss (gain) on property retirements and lease exit costs, net 12.7 (19.0) (42.3)
(Decrease) increase in accrued claims and other liabilities (32.1) 24.4 (5.8)
Deferred income taxes (142.1) 171.7 130.8
Amortization of deferred finance costs 4.8 5.1 5.3
Other 31.0 (1.5) 15.8
Changes in working capital items:
Receivables 26.0 11.7 (3.0)
Inventories at FIFO cost 173.5 95.2 (102.1)
Prepaid expenses and other current assets (30.4) 13.7 (22.7)
Income taxes 188.6 (96.8) (8.7)
Payables and accruals (101.4) (273.2) 98.0
Payables related to third-party gift cards, net of receivables 170.4 23.9 84.1
Net cash flow from operating activities 2,549.7 2,250.9 2,190.5
Investing Activities:
Cash paid for property additions (851.6) (1,595.7) (1,768.7)
Proceeds from sale of property 22.9 97.8 140.0
Other (60.3) (48.1) (57.7)
Net cash used by investing activities (889.0) (1,546.0) (1,686.4)
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