EX-99.2 4 dex992.txt CONSOLIDATED STATEMENTS OF INCOME FOR THE 39 WEEKS EXHIBIT 99.2 DELHAIZE AMERICA, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the 39 and 36 Weeks ended Sept 29, 2001 and Sept 9, 2000 (Dollars in thousands)
Pro forma 39 Weeks 39 Weeks 36 Weeks Sep 29,2001 Sep 30,2000 Sep 9,2000 (D) (E) (F) D% E% F% -------------------------------------------- --------------------------- Net sales and other revenues $11,152,237 $10,623,118 $8,185,224 100.00 100.00 100.00 Cost of goods sold 8,331,984 8,020,517 6,191,262 74.71 75.50 75.64 Selling and administrative expenses 2,303,564 2,164,422 1,609,009 20.65 20.38 19.66 Asset impairment provision - 26,961 26,961 0.00 0.25 0.33 Store closing provision 5,250 42,734 45,872 0.05 0.40 0.56 Merger expense 39,713 29,461 13,864 0.36 0.28 0.17 -------------------------------------------- --------------------------- Operating income 471,726 339,023 298,256 4.23 3.19 3.64 Interest expense 259,900 250,135 109,996 2.33 2.35 1.34 -------------------------------------------- --------------------------- Income before income taxes 211,826 88,888 188,260 1.90 0.84 2.30 Provision for income taxes 102,337 57,801 74,241 0.92 0.55 0.91 -------------------------------------------- --------------------------- Net income $109,489 $31,087 $114,019 0.98 0.29 1.39 ============================================ =========================== EBITDA (FIFO) $909,434 $809,809 $610,331 8.15 7.62 7.46
Note: Pro forma consolidated statements of income for the thirteen and thirty-nine week periods ended Sept 30, 2000 are presented to reflect the impact of the calendar change to a thirteen week calendar quarter and to include the results of operations of Hannaford Bros. Co. which was acquired on July 31, 2000. EBITDA is defined by our company as earnings before interest, taxes, depreciation, amortization, LIFO income/expense, merger expense, store closing provision and asset impairment provision. We do not represent EBITDA as an alternative measure to net income or cash flow from operations, which is determined in accordance with U.S. GAAP. Investors should note that our calculation of EBITDA might differ from similarly titled measures for other companies.