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2011 Ruddick Annual Report and Proxy Statement 0.30 7,103

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2011 Ruddick Annual Report and Proxy Statement 0.30 7,103 Subsidiary of Ruddick Corporation Ruddick Corporation is a holding company with one primary operating subsidiary– Harris Teeter, a leading regional supermarket chain. 301 S. Tryon Street, Suite 1800, Charlotte, NC 28202 • 704-372-5404 • www.ruddickcorp.com 2011 RUDDICK ANNUAL REPORT AND PROXY STATEMENT 1787_cov_r2.indd 2 Eleven-Year Financial and Operating summary (dollars in thousands, except share and per share data) 2011 2010 (1) 2009 2008 2007 2006 2005 2004 (1) 2003 2002 (2) 2001 (2) Net sales $ 4,285,565 4,099,353 3,827,005 3,664,804 3,299,377 2,922,679 2,644,976 2,572,367 2,431,632 2,349,650 2,416,799 Cost of Sales 3,015,517 2,871,907 2,657,564 2,525,947 2,277,638 2,025,042 1,857,129 1,816,446 1,728,454 1,671,982 1,740,864 Gross Profit 1,270,048 1,227,446 1,169,441 1,138,857 1,021,739 897,637 787,847 755,921 703,178 677,668 675,935 selling, General and Administrative Expenses Harris Teeter 1,078,978 1,045,860 993,850 961,092 867,656 770,000 674,267 651,515 609,556 588,895 644,133 Corporate 10,364 4,730 7,477 7,864 9,268 8,379 9,398 6,767 6,984 9,446 7,103 1,089,342 1,050,590 1,001,327 968,956 876,924 778,379 683,665 658,282 616,540 598,341 651,236 Operating Profit $ 180,706 $ 176,856 $ 168,114 $169,901 $ 144,815 $ 119,258 $ 104,182 $ 97,639 $ 86,638 $ 79,327 $ 24,699 Earnings (loss) From Continuing Operations $ 111,458 98,652 93,597 93,577 80,006 70,334 61,731 56,686 50,699 43,839 (14,592) Earnings (loss) From Discontinued Operations (20,211) 13,389 (7,633) 3,175 682 2,002 6,867 7,973 9,183 8,144 13,865 Net Earnings (loss) $ 91,247 $ 112,041 $ 85,964 $ 96,752 $ 80,688 $ 72,336 $ 68,598 $ 64,659 $ 59,882 $ 51,983 $ (727) Earnings Per share - Diluted: Continuing Operations $ 2.28 $ 2.03 $ 1.94 $ 1.94 $ 1.66 $ 1.47 $ 1.29 $ 1.21 $ 1.09 $ 0.94 $ (0.31) Discontinued Operations (0.41) 0.28 (0.16) 0.07 0.01 0.04 0.14 0.17 0.20 0.17 0.30 Net Earnings (loss) 1.87 2.31 1.78 2.00 1.68 1.52 1.44 1.38 1.29 1.12 (0.02) Dividends Per share $ 0.52 $ 0.48 $ 0.48 $ 0.48 $ 0.44 $ 0.44 $ 0.44 $ 0.40 $ 0.36 $ 0.36 $ 0.36 shareholders’ Equity - ruddick $ 969,275 $ 892,449 $ 811,590 $ 823,159 $ 736,250 $ 670,517 $ 608,942 $ 549,710 $ 495,265 $ 457,688 $ 445,353 Percent return on Beginning Equity 10.2% 13.8% 10.4% 13.1% 12.0% 11.9% 12.5% 13.1% 13.1% 11.7% (0.2%) Book Value Per share $ 19.72 $ 18.25 $ 16.72 $ 17.05 $ 15.30 $ 14.10 $ 12.82 $ 11.76 $ 10.71 $ 9.85 $ 9.61 Capital Expenditures (3) $ 147,993 128,183 206,703 192,231 212,237 210,910 115,448 83,988 64,384 71,283 68,552 Depreciation and Amortization (3) 128,717 121,731 109,907 96,516 81,702 70,778 60,966 59,950 59,344 56,391 60,444 Working Capital 280,300 144,385 71,421 66,353 73,494 98,119 130,811 187,971 165,192 165,911 112,272 Total Assets 1,984,424 1,893,671 1,844,321 1,696,407 1,529,689 1,362,936 1,203,640 1,109,097 1,065,022 1,039,271 940,064 long-term Debt - including Current Portion 287,330 306,096 365,087 320,578 264,392 237,731 163,445 166,287 189,095 185,892 157,113 long-term Debt as a Percent of Capital Employed 22.8% 25.4% 30.8% 27.9% 26.3% 26.0% 21.0% 23.0% 27.3% 28.5% 25.7% Number of Employees 24,500 25,200 24,800 25,500 24,800 22,400 20,400 18,200 17,500 17,650 17,100 Common shares Outstanding 49,147,817 48,901,482 48,545,080 48,278,136 48,127,252 47,557,894 47,488,979 46,730,758 46,223,233 46,454,188 46,319,696 Note: On November 7, 2011, the Company sold all of its ownership interest in its thread manufacturing business, American and Efird (“A&E”). As such, the sales and operating results of A&E are included within earnings (loss) from discontinued operations in the table above. Prior years have been reclassified to conform to the presentation used in fiscal 2011. 1. 53-week year 2. selling, General and Administrative Expenses, Earnings From Continuing Operations, Net income, Earnings Per share - Diluted and related returns include the following exit and impairment charges and tax settlement charges, which have been previously disclosed in the Company’s annual reports on Form 10-K: Fiscal 2002: Exit and impairment credits of $710 ($431 after taxes, or $0.01 per diluted share). Fiscal 2001: Exit and impairment charges of $45,035 ($27,370 after taxes, or $0.59 per diluted share) and a tax settlement with the irs for $20,000 ($0.43 per diluted share). 3. Excludes amounts related to discontinued operations. Charlotte, NC KPMG P I Charlotte, NC McGuireWoods G 704-844-3100 Matthews, NC28105 701 Harris S 704-372-5404 Charlotte, NC28202 s 301 C Ruddick Corporation President andCEO, Chairman oftheBoard, Dickson Thomas W. The CatoCorporation and CEO, Chairman, President DerhamCato John P. Belk, Inc. Operating Officer, President and John R.Belk D NDEPENDEN uite 1800 u UBSI OR ENE IRECTORS B C S . li restdale P t T ORATE ORATE ll r eeter, eeter, D C ryon A IARY A P l CCO S C C i R treet nc. hief oad O ll t ADD u u P R N N s E t RESS E G AN l ISTERE ts Managing Partner, Patrick Bailey W. Spangler Companies,Inc. President Vice Executive C Nelson Anna Spangler Hynes, Inc. of theBoard, Former James E.S.Hynes Merrifield Patrick Vermillion, LLC Merrifield Patrick Incorporated Industries, Bassett Furniture President andCEO, Robert H.Spilman,Jr. hairman and D S C Directors andOfficers hareholder hairman 704-372-5404 t Charlotte, NC28202 s Company (A 301 r i requestsmaybedirectedto: Written request orbytelephone. uponwritten available withoutcharge Annual Additional copiesoftheCompany’s ON A A on thisplanmaybeobtainedbycalling for shareholdersofrecord. r t AND D American AND S Common stocksymbol: (NY N nvestor elephone inquiriesmaybedirected to: uite 1800 he CompanymaintainsaDividend uddick Corporation einvestment and st TOCK TOCK E NN i V W F S s at866-662-3940. i S R . E) OR DEND u Y T TOCK TOCK E r ryon A l r ORK G eport onForm10-Kare M T isting l l s elations Department ISTRAR tock 10- r R st S AN R S treet E P ), Brooklyn,NY K P TOCK TOCK t E URCHASE s ransfer & ORTS s i I FE NVE tock PurchasePlan nformation Lowes Companies,Inc. Administration, President, Vice Former Executive Jr. Warden, C. William A. Bank,N. Wachovia President, Vice Director andExecutive Management Wealth Former Georgia Isaiah Tidwell Canal Holdings,LLC Former PresidentandCEO, Stowe-Monier Management,LLC; Managing Member, C.Stowe Harold r E r st A x DK i GEN CHANGE nformation t MEN rust P l t t AN (In Dollars) F C ‘07 is Harris Teeter, Inc. Harris Teeter, Operations &Merchandising, President, Vice Executive Rodney C. Antolock President, J.Morganthall,II Frederick Financial Officer Finance andChief President– Vice John B. Woodlief President and Chairman oftheBoard, Dickson Thomas W. E l O x 33.54 CA si EC l l ‘08 NG uti 33.65 Y Harris Teeter, Inc. Harris Teeter, EAR S VE ‘09 TOCK TOCK 26.62 CEO O E FF ‘10 ND 34.88 P i CE RICE ‘11 38.99 rs 12/22/11 8:12 PM UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended: October 2, 2011 OR []TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 1-6905 RUDDICK CORPORATION (Exact name of registrant as specified in its charter) North Carolina 56-0905940 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification Number) 301 S. Tryon St., Suite 1800, Charlotte, North Carolina 28202 (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code: (704) 372-5404 Securities registered pursuant to Section 12(b) of the Act: Title of each class: Name of exchange on which registered: Common Stock New York Stock Exchange, Inc. Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes H No h Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes h No H Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
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