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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Supervalu Inc. (delisted) | NYSE:SVU | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 32.49 | 0.00 | 01:00:00 |
|
|
Delaware
|
1-5418
|
41-0617000
|
(State or other jurisdiction
of incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
11840 Valley View Road
Eden Prairie, Minnesota
|
55344
|
(Address of principal executive offices)
|
(Zip Code)
|
|
N/A
|
|
|
(Former name or former address, if changed since last report)
|
|
|
|
RECONCILIATION OF PROJECTED NET EARNINGS FROM CONTINUING OPERATIONS TO PROJECTED ADJUSTED EBITDA AND PRO FORMA ADJUSTED EBITDA
|
||||
|
|
|
||
|
|
For the Fiscal Year Ended
|
||
(In millions)
|
|
February 25,
2017
(52 weeks)
|
||
Results of operations, as projected
|
|
|
||
Net earnings from continuing operations
|
|
$
|
38
|
|
Income tax (benefit) provision
|
|
(3
|
)
|
|
Equity in earnings of unconsolidated affiliates
|
|
(4
|
)
|
|
Interest expense, net
|
|
181
|
|
|
Total operating earnings
|
|
$
|
212
|
|
Add Equity in earnings of unconsolidated affiliates
|
|
4
|
|
|
Less net earnings attributable to noncontrolling interests
|
|
(5
|
)
|
|
Depreciation and amortization
|
|
206
|
|
|
LIFO charge
|
|
5
|
|
|
Pension settlement charge
|
|
41
|
|
|
Goodwill and intangible asset impairment charge
|
|
15
|
|
|
Supply agreement termination fee
|
|
(9
|
)
|
|
Other
(1)
|
|
3
|
|
|
Adjusted EBITDA
|
|
$
|
472
|
|
Pro forma adjustments:
|
|
|
||
Net sales
(2)
|
|
33
|
|
|
Cost of sales
(3)
|
|
(9
|
)
|
|
Total pro forma adjustments
|
|
24
|
|
|
Pro forma adjusted EBITDA
|
|
$
|
496
|
|
(1)
|
Includes store closure charges and costs of $5, severance costs of $(1) and a sales and use tax refund of $(2).
|
(2)
|
This adjustment reflects (1) the fees that the Company expects to recognize in connection with performing services for Save-A-Lot under the Services Agreement and (2) Wholesale distribution sales to Save-A-Lot pursuant to a customer agreement between the Company and Save-A-Lot that had historically been intercompany sales. Actual Services Agreement fees are subject to adjustments pursuant to the terms of the Services Agreement including for changes in service levels. This adjustment only applies to time periods prior to the sale of Save-A-Lot on December 5, 2016.
|
(3)
|
This adjustment reflects the Cost of sales related to Wholesale’s distribution to Save-A-Lot, which was previously eliminated on an intercompany basis. No adjustment for expenses related to the Services Agreement has been included within Cost of sales because the shared service center costs incurred to support back office functions related to the Services Agreement represent administrative overhead costs that have been included within Selling and administrative expenses within the Company's historical consolidated financial statements. This adjustment only applies to time periods prior to the sale of Save-A-Lot on December 5, 2016.
|
Exhibit Number
|
|
Description
|
99.1
|
|
News Release of SUPERVALU INC., dated January 11, 2017
|
Dated:
|
January 11, 2017
|
|
|
|
|
|
|
|
|
SUPERVALU INC.
|
|
|
|
|
|
|
|
By:
/s/ Bruce H. Besanko
|
|
|
|
|
|
|
|
Bruce H. Besanko
|
|
|
|
Executive Vice President, Chief Operating Officer and Chief Financial Officer
|
|
|
|
(Authorized Officer of Registrant)
|
|
|
|
|
|
Exhibit Number
|
|
Description
|
99.1
|
|
News Release of SUPERVALU INC., dated January 11, 2017
|
1 Year Supervalu Chart |
1 Month Supervalu Chart |
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