Winn-Dixie Stores, Inc. and Subsidiaries - Page 71

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           Scenario 1 - Constant Loan Interest Rate                                                                                                                    
           Cash Flow Detail                                                                                                                                            
           (dollars in thousands)                                                                                                                                      

             Corporate Cash Outflow         Corporate Cash Inflow                   Net Cash Flow           Surplus                                                    
               (A)             (B)         (C)          (D)          (E)          (F)            (G)         (H)         (I)         (J)           (K)                 
                                                                                                                                  Cumulative                           
                                                                                                                                     Cash                              
                                        After-Tax  Policy Loan                                Tax-Free       Net      Cumulative     Flow       Cumulative             
                              Loan       Admin.         Tax         Policy       Policy         Death        Cash        Cash      at 4.35%        Net                 
        Year   Premium      Interest       Fee        Savings        Loan      Withdrawal     Benefits       Flow        Flow      Pre-Tax*     Equity[1]              
                                                                                                                                                           

        2023      0       (836,648)   (171)        72,154        789,772       0              29,184   54,291        1,258,371  1,697,489      1,151                   
        2024      0       (914,804)   (169)        71,396        865,114       0              32,146   53,683        1,312,054  1,797,047      1,201                   
        2025      0       (999,303)   (168)        70,560        946,382       0              35,546   53,017        1,365,071  1,898,574      1,258                   
        2026      0       (1,090,314)   (166)      69,634        1,033,725     0              39,410   52,289        1,417,360  2,002,054      1,322                   
        2027      0       (1,187,917)   (163)      68,607        1,127,225     0              43,740   51,492        1,468,851  2,107,465      1,393                   
        2028      0       (1,292,076)   (161)      67,468        1,226,943     0              48,446   50,620        1,519,472  2,214,778      1,469                   
        2029      0       (1,402,677)   (158)      66,210        1,332,873     0              53,415   49,664        1,569,135  2,323,956      1,548                   
        2030      0       (1,519,519)   (155)      64,829        1,444,941     0              58,634   48,730        1,617,866  2,435,071      1,508                   
        2031      0       (1,642,320)   (151)      63,321        1,562,850     0              64,628   48,327        1,666,193  2,548,711      685                     
        2032      0       (1,770,698)   (148)      61,688        1,685,629     0              68,762   45,233        1,711,426  2,662,208      1,729                   
        2033      0       (1,904,072)   (144)      59,930        1,815,248     0              73,819   44,780        1,756,207  2,778,260      1,858                   
        2034      0       (2,041,845)   (139)      58,044        1,948,220     0              79,081   43,361        1,799,568  2,895,941      1,933                   
        2035      0       (2,182,737)   (135)      56,027        2,084,057     0              84,576   41,789        1,841,357  3,015,138      2,010                   
        2036      0       (2,325,080)   (130)      53,872        2,221,133     0              90,329   40,124        1,881,481  3,135,794      2,089                   
        2037      0       (2,466,685)   (125)      51,574        2,357,313     0              96,292   38,369        1,919,850  3,257,856      2,168                   
        2038      0       (2,604,815)   (119)      49,130        2,490,097     0              102,236    36,529      1,956,379  3,381,277      2,243                   
        2039      0       (2,736,378)   (113)      46,545        2,616,674     0              107,873    34,601      1,990,980  3,506,008      2,309                   
        2040      0       (2,858,051)   (107)      43,829        2,733,964     0              112,947    32,582      2,023,562  3,632,001      2,362                   
        2041      0       (2,966,346)   (100)      41,001        2,838,725     0              117,200    30,479      2,054,041  3,759,218      2,397                   
        2042      0       (3,057,756)    (93)      38,084        2,927,665     0              122,567    30,466      2,084,507  3,889,822      169                     
        2043      0       (3,128,893)    (86)      35,105        2,986,788     0              136,378   29,291       2,113,799  4,022,599                              
        2044      0       (3,175,595)    (79)      32,098        3,016,051     0              151,298   23,772       2,137,571  4,153,131                              
        2045      0       (3,194,629)    (72)      29,099        3,021,226     0              165,738   21,361       2,158,932  4,284,556                              
        2046      0       (3,184,372)    (65)      26,145        2,998,071     0              179,192    18,971      2,177,903  4,416,931      (4,341)                 
        2047      0       (3,143,787)    (58)      23,269        2,945,592     0              191,639    16,655      2,194,558  4,550,372      (4,598)                 
        2048      0       (3,071,784)    (52)      20,501        2,863,415     0              202,343    14,423      2,208,980  4,685,016      (4,796)                 
        2049      0       (2,968,747)    (45)      17,868        2,752,205     0              211,032    12,313      2,221,293  4,821,045      (4,928)                 
        2050      0       (2,835,702)    (39)      15,392        2,613,208     0              217,487    10,347      2,231,639  4,958,675      (4,991)                 
        2051      0       (2,674,269)    (34)      13,094        2,448,575     0              221,162    8,529       2,240,168  5,098,134      (4,975)                 
        2052      0       (2,487,427)    (28)      10,988        2,305,443     0              177,288    6,264       2,246,432  5,239,658      (4,941)                 
                                                                                                                                                                      
   *Assumes deaths occur midyear.                                                                                                                                      
   All figures are estimates.  Actual results will depend upon mortality, interest rates and dividends.                                                                
                                                                                                                                                                      
   __________________________________                                                                                                                                  
   1Blank space indicates that there was no legible figure in underlying exhibit.                                                                                      






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