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Amendment No. 3 to Form S-1
Table of Contents
NEW ALBERTSON'S BUSINESS OF SUPERVALU INC.
AND SUBSIDIARIES
Notes to Combined Financial Statements
February 21, 2013 and February 23, 2012
(Dollars in millions)
The carrying value of owned property leased to third parties under operating leases was as follows:
February 21, February 23.
2013 2012
Property, plant and equipment 18 19
Less accumulated depreciation (6) (4)
Property, plant and equipment, net 12 15
Future minimum lease receipts due under these noncancelable operating leases as of February 21, 2013, consist of the following:
Fiscal year:
2013 $13
2014 10
2015 8
2016 7
2017 5
Thereafter 7
Total minimum receipts $50
(9) Income Taxes
The provision for income taxes (benefit) consisted of the following:
2012 2011 2010
Current:
Federal $ 19 38 34
State 3 6 5
Total current 22 44 39
Deferred (38) (152) 252
Total income tax provision (benefit) $(16) (108) 291
The difference between the actual tax provision and the tax provision computed by applying the statutory U.S. federal income tax
rate to losses before income taxes is attributable to the following:
2012 2011 2010
Federal taxes based on statutory rate $(193) (384) (619)
State income taxes, net of federal benefit (31) (60) (93)
Goodwill impairment 286 567
Change in valuation allowance 210 46 432
Change in long-term tax liabilities 1 9 13
Charitable contributions (3) (5)
IRS settlement (2)
Other (3) (4)
Total income tax provision (benefit) $ (16) (108) 291
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CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0081919
CONFIDENTIAL SDNY_GM_00228103
EFTA01382528
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