Safeway 2012 Annual Report Download - page 50

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38
SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Income
(In millions, except per-share amounts)
52 Weeks
2012
52 Weeks
2011
52 Weeks
2010
Sales and other revenue $ 44,206.5 $ 43,630.2 $ 41,050.0
Cost of goods sold (32,486.5) (31,836.5) (29,442.5)
Gross profit 11,720.0 11,793.7 11,607.5
Operating and administrative expense (10,615.9) (10,659.1) (10,448.1)
Operating profit 1,104.1 1,134.6 1,159.4
Interest expense (304.0) (272.2) (298.5)
Other income, net 28.3 19.7 20.3
Income before income taxes 828.4 882.1 881.2
Income taxes (262.2) (363.9) (290.6)
Income from continuing operations, net of tax 566.2 518.2 590.6
Gain from discontinued operations, net of tax 31.9 ——
Net income before allocation to noncontrolling interests 598.1 518.2 590.6
Less noncontrolling interests (1.6) (1.5) (0.8)
Net income attributable to Safeway Inc. $ 596.5 $ 516.7 $ 589.8
Basic earnings per share:
Continuing operations $2.28$ 1.49 $ 1.56
Discontinued operations $0.13$—$—
Total $2.41$ 1.49 $ 1.56
Diluted earnings per share:
Continuing operations $2.27$ 1.49 $ 1.55
Discontinued operations $0.13$—$—
Total $2.40$ 1.49 $ 1.55
Weighted average shares outstanding – basic 245.6 343.4 378.3
Weighted average shares outstanding – diluted 245.9 343.8 379.6
See accompanying notes to consolidated financial statements.