see(3)
see(3)
Delhaize Group Annual Report 2014 95
Year ended December 31, 2014 (in millions of
United States
Belgium(2)
Corporate
Total
Revenues(1)
13 360
4 919
3 082
21 361
Cost of sales
(9 898)
(3 985)
(2 339)
(16 222)
Gross profit
3 462
934
743
5 139
Gross margin
25.9%
19.0%
24.1%
N/A
24.1%
Other operating income
58
43
16
2
119
Selling, general and administrative expenses
(2 970)
(864)
(632)
(37)
(4 503)
Other operating expenses
(17)
(152)
(163)
(332)
Operating profit (loss)
533
(39)
(36)
(35)
423
Operating margin
4.0%
(0.8%)
(1.2%)
N/A
2.0%
Adjustments:
Impairment losses (reversals)
8
2
156
166
Reorganization expenses (reversals)
137
137
Store closing expenses (reversals)
(2)
(2)
(Gains) losses on disposal of assets
3
3
1
7
Other
15
14
2
31
Underlying operating profit (loss)
542
118
135
(33)
762
Underlying operating margin
4.1%
2.4%
4.4%
N/A
3.6%
Other information (incl. discontinued operations and assets held for sale)
Assets
7 095
1 889
2 047
1 096(5)
12 127
Liabilities
2 506
1 604
865
1 699
6 674
Capital expenditures
281
129
167
29
606
Non-cash operating activities:
Depreciation and amortization
376
121
82
14
593
Impairment losses(4)
134
2
170
306
Share-based compensation
9
1
2
12
Operating result of discontinued operations
1
(9)
(8)
Year ended December 31, 2013 (in millions of
United States
Belgium12'
Corporate
Total
Revenues(1)
12 536
5 072
2 985
20 593
Cost of sales
(9 259)
(4 046)
(2 274)
(15 579)
Gross profit
3 277
1 026
711
5 014
Gross margin
26.1%
20.2%
23.8%
N/A
24.3%
Other operating income
56
44
27
127
Selling, general and administrative expenses
(2 835)
(866)
(598)
(48)
(4 347)
Other operating expenses
(41)
(17)
(200)
1
(257)
Operating profit (loss)
457
187
(60)
(47)
537
Operating margin
3.6%
37%
(2.0%)
N/A
2.6%
Adjustments:
Impairment losses (reversals)
13
2
191
206
Reorganization expenses (reversals)
18
18
Store closing expenses (reversals)
5
5
(Gains) losses on disposal of assets
(2)
8
2
2
10
(Gains) losses on disposal of businesses
(9)
(9)
Other
10
10
(3)
5
22
Underlying operating profit (loss)
501
198
130
(40)
789
Underlying operating margin
4.0%
3.9%
4.4%
N/A
3.8%
Other information (incl. discontinued operations and assets held for sale)
Assets
6 983
1 867
2 105
639(5)
11 594
Liabilities
2 482
1 399
807
1 833
6 521
Capital expenditures
276
140
127
22
565
Non-cash operating activities:
Depreciation and amortization
391
115
83
10
599
Impairment losses(4)
23
2
206
231
Share-based compensation
13
1
2
16
Operating result of discontinued operations
(58)
(28)
(86)
