Winn-Dixie Stores, Inc. and Subsidiaries - Page 72

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           Scenario 1 - Constant Loan Interest Rate                                                                                                                    
           Balance Sheet Summary                                                                                                                                       
           (dollars in thousands)                                                                                                                                      

                                                                                                                                                                      
                       (A)               (B1)         (B2)                         (B)                (C)               (D)                (E)                         

                                         Gross                                Insurance Net         Accrued          Retained             Annual                       
                       Cash         Cash Surrender    Outstanding            Cash Surrender           Loan           Earnings           Impact on                      
           Year       Amount             Value        (Loan)                      Value             Interest        Gain/(Loss)          Earnings                      
                                                                                                                                                                
        1993      35              119,596             (107,616)            11,980               11,902           113                 113                               
        1994      1,056           246,061             (221,396)            24,665               24,486           1,234               1,121                             
        1995      3,826           368,374             (331,476)            36,898               36,661           4,063               2,828                             
        1996      7,468           368,186             (331,216)            36,970               36,633           7,805               3,743                             
        1997      11,501          367,876             (330,943)            36,933               36,602           11,831              4,026                             
        1998      15,959          367,397             (330,652)            36,745               36,570           16,134              4,303                             
        1999      20,583          367,008             (330,339)            36,669               36,535           20,717              4,582                             
        2000      30,580          518,930             (467,034)            51,896               51,654           30,822              10,106                            
        2001      46,723          686,622             (618,005)            68,618               68,351           46,990              16,168                            
        2002      69,522          871,619             (784,552)            87,066               86,771           69,817              22,827                            
        2003      99,630          1,075,569           (968,163)            107,406              107,079          99,957              30,140                            
        2004      137,610         1,300,113           (1,170,310)          129,803              129,436          137,977             38,019                            
        2005      184,087         1,547,013           (1,392,580)          154,433              154,019          184,501             46,524                            
        2006      239,910         1,818,331           (1,636,831)          181,499              181,034          240,375             55,875                            
        2007      304,388         2,116,279           (1,905,056)          211,223              210,699          304,912             64,537                            
        2008      372,728         2,324,858           (2,092,868)          231,990              231,471          373,247             68,334                            
        2009      439,725         2,552,907           (2,298,156)          254,751              254,176          440,300             67,054                            
        2010      505,341         2,802,162           (2,522,535)          279,628              278,992          505,977             65,676                            
        2011      569,468         3,074,513           (2,767,705)          306,808              306,108          570,168             64,192                            
        2012      631,992         3,372,040           (3,035,541)          336,500              335,731          632,761             62,593                            
        2013      692,788         3,696,994           (3,328,067)          368,927              368,084          693,631             60,870                            
        2014      751,797         4,051,835           (3,647,555)          404,280              403,420          752,657             59,026                            
        2015      810,205         4,440,729           (3,997,694)          443,035              442,145          811,096             58,438                            
        2016      868,002         4,866,820           (4,381,326)          485,495              484,575          868,922             57,826                            
        2017      925,163         5,333,474           (4,801,480)          531,993              531,044          926,113             57,191                            
        2018      981,810         5,844,342           (5,261,448)          582,894              581,916          982,788             56,675                            
        2019      1,038,060       6,403,152           (5,764,585)          638,568              637,563          1,039,065           56,277                            
        2020      1,093,880       7,013,474           (6,314,100)          699,374              698,339          1,094,915           55,849                            
        2021      1,149,233       7,678,773           (6,913,114)          765,659              764,590          1,150,302           55,387                            
        2022      1,204,080       8,402,381           (7,564,627)          837,754              836,648          1,205,186           54,885                            


           All figures are estimates.  Actual results will depend upon mortality, interest rates and dividends.                                                        










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