Better Food. Better Future.
Reconciliation - Adjusted EBITDA
13-Week Period Ended
26-Week Period Ended
(20)
120
(3)
144
3
The non-GAAP adjusted EBITDA measure is defined as a consolidated measure
inclusive of continuing and discontinued operations results, which we reconcile
by adding Net income (loss) from continuing operations, less net income
attributable to noncontrolling interests, plus non-operating income and
expenses, including Net periodic benefit income, excluding service cost,
Interest expense, net and Other, net, plus Provision (benefit) for income taxes
and Depreciation and amortization all calculated in accordance with GAAP,
plus adjustments for Share-based compensation, Restructuring, acquisition
and integration related expenses, Goodwill impairment charges, (Gain) loss on
sale of assets, certain legal charges and gains, certain other non-cash charges
or other items, as determined by management, plus Adjusted EBITDA of
discontinued operations calculated in a manner consistent with the results of
continuing operations, outlined above.
(in millions)
Net income from continuing operations
Adjustments to continuing operations net income:
Less net income attributable to noncontrolling interests
Net periodic benefit income, excluding service cost
Interest expense, net
Other, net
Provision for income taxes
January 29,
2022
January 30,
2021
January 29,
January 30,
2022
2021
S
68
S
58
S
145 $
58
(2)
(2)
(3)
(10)
44
(2)
(17)
51
(2)
25
17
Depreciation and amortization
69
67
Share-based compensation
12
13
Restructuring, acquisition and integration related expenses"
(1)
5
18
Loss on sale of assets
1
Multi-employer pension plan withdrawal benefit(2)
Other retail (benefit) expenses
(8)
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(8)
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(34)
(3)
(1)
(1)
Adjusted EBITDA of continuing operations
Adjusted EBITDA of discontinued operations
Adjusted EBITDA
201
204
390
362
(4)
3
S
201
S
206 S
390
365
Income from discontinued operations, net of tax
S
3 S
$
3
Adjustments to discontinued operations net income:
Benefit for income taxes
Restructuring, store closure and other charges, net
Adjusted EBITDA of discontinued operations
S
(2)
1
S
(1)
1
3
12
(1) Fiscal 2021 primarily reflects costs associated with advisory and transformational activities as we position our business for further
value-creation following the Supervalu acquisition.
(2) Reflects an adjustment to multi-employer withdrawal charge estimates.
(3) Reflects expenses associated with event-specific damages to certain retail stores and store closure costs.
(4) The last two remaining retail stores in discontinued operations were sold in the second quarter of fiscal 2022.
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