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SWY » Topics » TABLE 2: RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA

This excerpt taken from the SWY 8-K filed Feb 25, 2010.

TABLE 2: RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA

 

      Year Ended
January 2,
2010		  

Net loss

    $ (1,097.5 ) 

Add (subtract):

   

Income taxes

      144.2   

Interest expense

      331.7   

Depreciation expense

      1,171.2   

LIFO income

      (35.2 ) 

Stock option expense

      57.4   

Property impairment charges

      73.7   

Goodwill impairment charge

      1,974.2   

Equity in earnings of unconsolidated affiliate

      (8.5 ) 
        

Adjusted EBITDA

    $ 2,611.2   
        

Total debt at January 2, 2010

    $ 4,901.7   

Less cash and equivalents in excess of $75.0 at January 2, 2010

      396.5   
        

Adjusted Debt

    $ 4,505.2   
        

Adjusted EBITDA as a multiple of interest expense

      7.87 x 

Minimum Adjusted EBITDA as a multiple of interest expense under bank credit agreement

      2.00 x 

Adjusted Debt to Adjusted EBITDA

      1.73 x 

Maximum Adjusted Debt to Adjusted EBITDA under bank credit agreement

      3.50 x 

 

8

SAFEWAY INC. AND SUBSIDIARIES

SUPPLEMENTAL INFORMATION

(Dollars in millions)

(Unaudited)

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