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Segment Information
 12 Months Ended
Sep. 28, 2013
Segment Information [Abstract]  
Segment Information

11. Segment Information 

 

The Company operates one primary business segment, retail grocery sales (representing the aggregation of individual retail stores).   The “Other” segment includes our remaining operations -- fluid dairy and shopping center rentals.  The Company previously presented the fluid dairy and shopping center rentals as separate segments; however, these have now been combined as neither meets the criteria for separate disclosure in any year presented.  Prior year data has been recast to reflect the current segment presentation.  In addition, the Company has historically presented the revenue and expense of the shopping center rental segment “net” on the consolidated statement of income.  In 2013, the Company concluded that the income and expense amounts associated with shopping center rentals should be presented as “gross” rather than “net”.  Accordingly the prior year consolidated statements of income have been revised to eliminate the amounts presented as rental income, net while increasing net sales and cost of goods sold by $8.9 million and $7.4 million, respectively, in 2012 and $9.1 million and $7.2 million, respectively, in 2011.  Management does not believe that these corrections are material to the financial statements.  Information about the Company’s operations by lines of business (amounts in thousands) is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

2012

 

2011

Revenues from unaffiliated customers:

 

 

 

 

 

 

 

 

 

Grocery sales

 

$
3,599,820 

 

$
3,577,510 

 

$
3,428,730 

Other

 

 
138,720 

 

 
140,805 

 

 
140,293 

Total revenues from unaffiliated customers

 

$
3,738,540 

 

$
3,718,315 

 

$
3,569,023 

 

 

 

 

 

 

 

 

 

 

Income before income taxes:

 

 

 

 

 

 

 

 

 

Grocery sales

 

$
114,380 

 

$
111,540 

 

$
105,648 

Other

 

 
11,194 

 

 
12,307 

 

 
12,869 

        Total income from operations

 

 
125,574 

 

 
123,847 

 

 
118,517 

        Other income, net

 

 
2,900 

 

 
3,527 

 

 
4,159 

        Interest expense

 

 
59,142 

 

 
60,027 

 

 
61,966 

        Loss on early extinguishment of debt

 

 
43,089 

 

 

—

 

 

—

Income before income taxes

 

$
26,243 

 

$
67,347 

 

$
60,710 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

Grocery sales

 

$
1,528,483 

 

$
1,486,109 

 

$
1,471,086 

Other

 

 
143,237 

 

 
158,267 

 

 
149,698 

Elimination of intercompany receivable

 

 
(2,392)

 

 
(2,267)

 

 
(2,434)

Total assets

 

$
1,669,328 

 

$
1,642,109 

 

$
1,618,350 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Grocery sales

 

$
99,995 

 

$
175,835 

 

$
83,169 

Other

 

 
1,458 

 

 
4,794 

 

 
14,337 

Total capital expenditures

 

$
101,453 

 

$
180,629 

 

$
97,506 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

Grocery sales

 

$
87,331 

 

$
82,584 

 

$
78,236 

Other

 

 
7,558 

 

 
7,947 

 

 
7,172 

Total depreciation and amortization

 

$
94,889 

 

$
90,531 

 

$
85,408 

 

 

 

Sales by product category for fiscal years 2013, 2012 and 2011, respectively, are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended September

 

 

(dollars in thousands)

 

 

2013

 

2012

 

2011

Grocery

 

$
1,424,869 

 

$
1,447,520 

 

$
1,397,944 

Non-foods

 

 
707,294 

 

 
709,959 

 

 
690,199 

Perishables

 

 
898,956 

 

 
866,252 

 

 
825,068 

Gasoline

 

 
568,701 

 

 
553,779 

 

 
515,519 

 Total grocery segment

 

$
3,599,820 

 

$
3,577,510 

 

$
3,428,730 

 

The grocery category includes grocery, dairy, and frozen foods.

The non-foods category includes alcoholic beverages, tobacco, pharmacy, health and video.

The perishable category includes meat, produce, deli and bakery.

 

The fluid dairy operation had $58.3  million, $58.5 million and $59.6 million in sales to the grocery sales segment in fiscal 2013,  2012 and 2011, respectively. These sales were eliminated in consolidation.