SAFEWAY INC
CIK:0000086144|SEC Filings
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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
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Jan. 03, 2015
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Dec. 28, 2013
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Dec. 29, 2012
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| Operating Activities: | |||||||||
| Net income before allocation to noncontrolling interests | $ 112.5 | $ 3,522.2 | $ 598.1 | ||||||
| Income from discontinued operations, net of tax | (9.3) | [1] | (3,305.1) | [2] | (348.9) | ||||
| Income from continuing operations, net of tax | 103.2 | 217.1 | 249.2 | ||||||
| Reconciliation to net cash flow from operating activities: | |||||||||
| Depreciation expense | 921.5 | 922.2 | 952.8 | ||||||
| Loss on foreign currency | 131.2 | 57.4 | 0 | ||||||
| Property impairment charges | 56.1 | 35.6 | 33.6 | ||||||
| Share-based employee compensation | 24.7 | 50.4 | 48.4 | ||||||
| LIFO (income) expense | (5.0) | (14.3) | 0.7 | ||||||
| Equity in earnings of unconsolidated affiliate | (16.2) | (17.6) | (17.5) | ||||||
| Net pension and post-retirement benefits expense | 76.2 | 114.8 | 129.0 | ||||||
| Contributions to pension and post-retirement benefit plans | (13.3) | (56.3) | (110.3) | ||||||
| Gain on sale of PDC | (22.0) | 0 | 0 | ||||||
| Gain on property dispositions and lease exit costs, net | (38.8) | (51.2) | (48.3) | ||||||
| Loss on extinguishment of debt | 84.4 | 10.1 | 0 | ||||||
| Increase in accrued claims and other liabilities | 26.2 | 9.2 | 60.5 | ||||||
| Deferred income taxes | 89.6 | (276.6) | (36.1) | ||||||
| Other | 20.8 | 36.9 | 20.2 | ||||||
| Changes in working capital items: | |||||||||
| Receivables | 16.5 | (32.0) | 20.3 | ||||||
| Inventories at FIFO cost | (128.1) | (76.5) | (107.4) | ||||||
| Prepaid expenses and other current assets | 63.4 | (49.5) | (20.5) | ||||||
| Income taxes | (90.6) | 71.0 | (54.3) | ||||||
| Payables and accruals | 87.9 | 120.7 | 106.2 | ||||||
| Net cash flow from operating activities - continuing operations | 1,387.7 | 1,071.4 | 1,226.5 | ||||||
| Net cash flow (used by) from operating activities - discontinued operations | (2,008.9) | 230.1 | 343.2 | ||||||
| Net cash flow (used by) from operating activities | (621.2) | 1,301.5 | 1,569.7 | ||||||
| Investing Activities: | |||||||||
| Cash paid for property additions | (711.2) | (738.2) | (800.1) | ||||||
| Proceeds from sale of PDC | 637.2 | 0 | 0 | ||||||
| Proceeds from sale of property | 99.2 | 220.3 | 263.0 | ||||||
| Proceeds from company-owned life insurance policies | 0 | 68.7 | 0 | ||||||
| Restricted cash proceeds from the sale of PDC | (61.9) | 0 | 0 | ||||||
| Increase in restricted cash | (40.0) | 0 | 0 | ||||||
| Release of restricted cash for payment of mortgage | 40.0 | 0 | 0 | ||||||
| Advances to Blackhawk | (27.7) | 0 | 0 | ||||||
| Other | (51.2) | 6.5 | (56.1) | ||||||
| Net cash flow used by investing activities - continuing operations | (115.6) | (442.7) | (593.2) | ||||||
| Net cash flow from investing activities - discontinued operations | 226.1 | 5,352.3 | 21.2 | ||||||
| Net cash flow from (used by) investing activities | 110.5 | 4,909.6 | (572.0) | ||||||
| Financing Activities: | |||||||||
| Additions to long-term borrowings | 239.8 | 785.5 | 3,508.1 | ||||||
| Proceeds from PDC sale for development properties recorded (See Note D) | 120.1 | 0 | 0 | ||||||
| Principal payments on long-term borrowings | (1,731.7) | (2,171.5) | (3,390.6) | ||||||
| Payments of debt extinguishment costs | (82.0) | (11.0) | 0 | ||||||
| Purchase of treasury stock | 0 | (663.7) | (1,274.5) | ||||||
| Dividends paid | (251.8) | (181.4) | (163.9) | ||||||
| Net proceeds from exercise of stock options | 29.7 | 240.1 | 3.8 | ||||||
| Excess tax benefit from share-based employee compensation | 15.4 | 6.7 | 1.3 | ||||||
| Other | (11.6) | (8.6) | (13.3) | ||||||
| Net cash flow used by financing activities - continuing operations | (1,672.1) | (2,003.9) | (1,329.1) | ||||||
| Net cash flow (used by) from financing activities - discontinued operations | (54.9) | 157.7 | (44.7) | ||||||
| Net cash flow used by financing activities | (1,727.0) | (1,846.2) | (1,373.8) | ||||||
| Effect of changes in exchange rates on cash | (154.5) | (69.8) | (1.1) | ||||||
| (Decrease) increase in cash and equivalents | (2,392.2) | 4,295.1 | (377.2) | ||||||
| Cash and Equivalents: | |||||||||
| Beginning of year | 4,647.3 | 352.2 | 729.4 | ||||||
| End of year | 2,255.1 | 4,647.3 | 352.2 | ||||||
| Other Cash Information - Continuing and Discontinued Operations: | |||||||||
| Interest | 218.5 | 289.2 | 322.3 | ||||||
| Income taxes, net of refunds | 1,397.7 | 497.2 | 380.9 | ||||||
| Non-Cash Investing and Financing Activities - Continuing and Discontinued Operations: | |||||||||
| Capital lease obligations entered into | 180.0 | 78.0 | 48.1 | ||||||
| Purchases of property, plant and equipment included in accounts payable | 71.8 | 128.3 | 107.8 | ||||||
| Mortgage notes assumed in property additions | $ 0 | $ 0 | $ 42.9 | ||||||
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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified |
Jan. 03, 2015
|
Dec. 28, 2013
|
|---|---|---|
| Current assets: | ||
| Cash and equivalents | $ 2,255.1 | $ 4,647.3 |
| Receivables | 373.4 | 1,211.4 |
| Merchandise inventories, net of LIFO reserve of $53.1 and $58.1 | 2,187.9 | 2,089.6 |
| Income tax receivable | 476.1 | 0 |
| Prepaid expenses and other current assets | 277.1 | 371.5 |
| Assets held for sale | 39.5 | 143.9 |
| Total current assets | 5,609.1 | 8,463.7 |
| Property: | ||
| Land | 1,376.8 | 1,583.2 |
| Buildings | 5,666.7 | 5,774.0 |
| Leasehold improvements | 2,804.1 | 2,836.2 |
| Fixtures and equipment | 6,517.9 | 6,979.1 |
| Property under capital leases | 708.3 | 550.2 |
| Total property, gross | 17,073.8 | 17,722.7 |
| Less accumulated depreciation and amortization | (10,297.3) | (10,185.2) |
| Total property, net | 6,776.5 | 7,537.5 |
| Goodwill | 330.9 | 464.5 |
| Investment in unconsolidated affiliate | 205.8 | 196.1 |
| Other assets | 454.7 | 557.7 |
| Total assets | 13,377.0 | 17,219.5 |
| Current liabilities: | ||
| Current maturities of notes and debentures | 3.2 | 252.9 |
| Current obligations under capital leases | 94.7 | 49.3 |
| Accounts payable | 1,609.6 | 3,376.4 |
| Accrued salaries and wages | 449.8 | 419.4 |
| Deferred income taxes | 29.4 | 0 |
| Income taxes payable | 0 | 1,135.2 |
| Other accrued liabilities | 566.8 | 623.2 |
| Total current liabilities | 2,753.5 | 5,856.4 |
| Long-term debt: | ||
| Notes and debentures | 2,472.9 | 3,515.3 |
| Obligations under capital leases | 429.1 | 375.5 |
| Total long-term debt | 2,902.0 | 3,890.8 |
| Dominick's multiemployer pension plan withdrawal liability | 455.0 | 294.8 |
| Pension and post-retirement benefit obligations | 765.0 | 451.4 |
| Accrued claims and other liabilities | 1,051.1 | 851.0 |
| Total liabilities | 7,926.6 | 11,344.4 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Common stock: par value $0.01 per share; 1,500 shares authorized; 245.8 and 244.2 shares issued | 2.5 | 2.4 |
| Additional paid-in capital | 2,051.3 | 1,981.9 |
| Treasury stock at cost: 14.4 and 14.1 shares | (491.8) | (480.6) |
| Accumulated other comprehensive loss | (421.7) | (271.1) |
| Retained earnings | 4,310.1 | 4,586.9 |
| Total Safeway Inc. equity | 5,450.4 | 5,819.5 |
| Noncontrolling interest | 0 | 55.6 |
| Total equity | 5,450.4 | 5,875.1 |
| Total liabilities and stockholders’ equity | $ 13,377.0 | $ 17,219.5 |