Amtrak 2013 Annual Report Download - page 49

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
1411-1359280 10
2. Restatement of 2012 Financial Statements (continued)
Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 250-10-
S99-2, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in
Current Year Financial Statements and concluded based on qualitative and quantitative
considerations that the effects of the corrections in each of the periods in which the related
misstatements originated were not material. The Company has concluded that the amounts, if
only corrected in fiscal year 2013, would have been material to the consolidated financial
statements for that year. The cumulative impact on the Company’ s Consolidated Statements of
Operations for periods prior to those presented herein ($271.6 million) has been recorded as an
adjustment to accumulated deficit as of September 30, 2011.