EFTA Document EFTA01382528

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, 2013 February 23. 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 hill). UN% W. sce.go% Archk edgar data' 1646972 000119312515335826'd900395ds Itt.htm110 14'2015 9:03:02 AM1 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0081919 SDNY_GM_00228103 EFTA01382528