Bed, Bath and Beyond 2011 Annual Report Download - page 15
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BED BATH & BEYOND 2011 ANNUAL REPORT
The Company is required to record stock-based compensation expense net of estimated forfeitures. The Company’s forfeiture rate
assumption used in determining its stock-based compensation expense is estimated based on historical data. The actual forfeiture
rate could differ from these estimates.
Taxes: The Company accounts for its income taxes using the asset and liability method. Deferred tax assets and liabilities are
recognized for the future tax consequences attributable to the differences between the financial statement carrying amounts of
existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets
and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which those temporary
differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is
recognized in earnings in the period that includes the enactment date.
The Company intends to reinvest the unremitted earnings of its Canadian subsidiary. Accordingly, no provision has been made
The Company recognizes the tax benefit from an uncertain tax position only if it is at least more likely than not that the tax
position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits
recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than
fifty percent likelihood of being realized upon settlement with the taxing authorities.
The Company expects continued volatility in the effective tax rate from year to year because the Company is required each year
to determine whether new information changes the assessment of both the probability that a tax position will effectively be
sustained and the appropriateness of the amount of recognized benefit.
The Company also accrues for certain other taxes as required by their operations.
liabilities. In the ordinary course of business, there are transactions and calculations where the ultimate tax outcome is uncertain.
Additionally, the Company’s various tax returns are subject to audit by various tax authorities. Although the Company believes
that its estimates are reasonable, actual results could differ from these estimates.
FORWARD-LOOKING STATEMENTS
This Annual Report, and in particular Management’s Discussion and Analysis of Financial Condition and Results of Operations
expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general
economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in
accounting standards. The Company does not undertake any obligation to update its forward-looking statements.