|
|
 | | | |
- close
- close
- close
- close
These excerpts taken from the SWY 10-K filed Mar 3, 2009. Note C: Store Closing and Impairment Charges Impairment Write-Downs Safeway recognized impairment charges on the write-down of long-lived assets of $40.3 million in 2008, $27.1 million in 2007 and $39.2 million in 2006. These charges are included as a component of operating and administrative expense.
51
Table of ContentsSAFEWAY INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements
Store Lease Exit Costs The reserve for store lease exit costs includes the following activity for 2008, 2007 and 2006 (in millions):
Store lease exit costs are included as a component of operating and administrative expense, and the liability is included in accrued claims and other liabilities. Note C: Store Closing and Impairment Charges million in 2007 and $39.2 million in 2006. These charges are included as a component of operating and administrative expense.
51 Table of ContentsSAFEWAY INC. AND SUBSIDIARIES ALIGN="center">Notes to Consolidated Financial Statements
Store Lease Exit Costs The reserve for store lease exit costs includes the following
Store lease exit costs are included as a These excerpts taken from the SWY 10-K filed Feb 26, 2008. Note C: Store Closing and Impairment Charges Impairment Write-Downs Safeway recognized impairment charges on the write-down of long-lived assets of $27.1 million in 2007, $39.2 million in 2006 and $78.9 million in 2005. This includes Randall’s impairment charges of $54.7 million in 2005. These charges are included as a component of operating and administrative expense. Store Lease Exit Costs The reserve for store lease exit costs includes the following activity for 2007, 2006 and 2005 (in millions):
Store lease exit costs are included as a component of operating and administrative expense, and the liability is included in accrued claims and other liabilities.
47
Table of ContentsSAFEWAY INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements
Note C: Store Closing and Impairment Charges SIZE="2">Impairment Write-Downs Safeway recognized impairment charges on the write-down of long-lived assets of $27.1 million in 2007, $39.2 million in 2006 and $78.9 million in 2005. This includes Randall’s Store Lease Exit
Store lease exit costs are included as a
47 Table of ContentsSAFEWAY INC. AND SUBSIDIARIES ALIGN="center">Notes to Consolidated Financial Statements
This excerpt taken from the SWY 10-K filed Feb 26, 2007. Note C: Store Closing and Impairment Charges Impairment Write-Downs Safeway recognized impairment charges on the write-down of long-lived assets of $39.2 million in 2006, $78.9 million in 2005 and $39.4 million in 2004. This includes Randall’s impairment charges of $54.7 million in 2005. These charges are included as a component of operating and administrative expense. Store Lease Exit Costs The reserve for store lease exit costs includes the following activity for 2006, 2005 and 2004 (in millions):
Store lease exit costs are included as a component of operating and administrative expense, and the liability is included in accrued claims and other liabilities.
46
Table of ContentsSAFEWAY INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements
This excerpt taken from the SWY 10-K filed Mar 10, 2006. Note C: Store Closing and Impairment Charges Impairment Write-Downs Safeway recognized impairment charges on the write-down of long-lived assets of $78.9 million in 2005, $39.4 million in 2004 and $344.9 million in 2003. This includes Randall’s impairment charges of $54.7 million in 2005 and Dominick’s impairment charges of $311.4 million in 2003. These charges are included as a component of operating and administrative expense. In November 2002, Safeway announced the decision to sell Dominick’s and exit the Chicago market due to labor issues. In the first 36 weeks of 2003, Safeway reduced the carrying value of Dominick’s in part by writing down $120.7 million of long-lived assets, based on indications of value received during the sale process. In November 2003, Safeway announced that it was taking Dominick’s off the market. Safeway reclassified Dominick’s from an “asset held for sale” to “asset held and used” and adjusted Dominick’s individual long-lived assets to the lower of cost or fair value. As a result, in the fourth quarter of 2003, Safeway incurred a pre-tax, long-lived asset impairment charge of $190.7 million. Store Lease Exit Costs The reserve for store lease exit costs includes the following activity for 2005, 2004 and 2003 (in millions):
Store lease exit costs are included as a component of operating and administrative expense and the liability is included in accrued claims and other liabilities. Store lease exit costs related to the Furr’s and Homeland bankruptcies are not included above but are discussed in Note K.
45
Table of ContentsSAFEWAY INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements
This excerpt taken from the SWY 10-K filed Mar 16, 2005. Note C: Store Closing and Impairment Charges
IMPAIRMENT WRITE-DOWNS Safeway recognized impairment charges on the write-down of long-lived assets of $39.4 million in 2004, $344.9 million in 2003 and $213.1 million in 2002. This includes Dominick’s impairment charges of $311.4 million in 2003 and $201.3 million in 2002. These charges are included as a component of operating and administrative expense.
In November 2002, Safeway announced the decision to sell Dominick’s and exit the Chicago market due to labor issues. In accordance with SFAS No. 144, Safeway recorded a pre-tax charge for the impairment of long-lived assets of $201.3 million in the fourth quarter of 2002 to adjust Dominick’s to its estimated fair market value less cost to sell.
In the first 36 weeks of 2003, Safeway reduced the carrying value of Dominick’s in part by writing down an additional $120.7 million of long-lived assets, based on indications of value received during the sale process. In November 2003, Safeway announced that it was taking Dominick’s off the market. Safeway reclassified Dominick’s from an “asset held for sale” to “asset held and used” and adjusted Dominick’s individual long-lived assets to the lower of cost or fair value. As a result, in the fourth quarter of 2003, Safeway incurred a pre-tax, long-lived asset impairment charge of $190.7 million.
STORE LEASE EXIT COSTS The reserve for store lease exit costs includes the following activity for 2004, 2003 and 2002 (in millions):
40
SAFEWAY INC. AND SUBSIDIARIES
Store lease exit costs are included as a component of operating and administrative expense and the liability is included in accrued claims and other liabilities.
Store lease exit costs related to the Furr’s and Homeland bankruptcies are not included above but are discussed in Note L.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for SWY: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
