Bed, Bath and Beyond 2014 Annual Report Download - page 17

Potential volatility in the effective tax rate from year to year may occur as 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.
Judgment is required in determining the provision for income and other taxes and related accruals, deferred tax assets and
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
and the Shareholder Letter, contain forward-looking statements within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended. The Company’s actual results and future financial condition may differ materially from those
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
the retailing environment; consumer preferences, spending habits and adoption of new technologies; demographics and other
macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil
disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential
competitors; competition from other channels of distribution; pricing pressures; liquidity; the ability to attract and retain
qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; the ability to
find suitable locations at acceptable occupancy costs and other terms to support the Company’s growth; the ability to assess
and implement technologies in support of the Company’s development of its omnichannel capabilities; uncertainty in financial
markets; disruptions to the Company’s information technology systems including but not limited to security breaches of
systems protecting consumer and employee information; reputational risk arising from challenges to the Company’s or a
third party supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety,
privacy or the environment; changes to statutory, regulatory and legal requirements; new, or developments in existing,
litigation, claims or assessments; changes to, or new, tax laws or interpretation of existing tax laws; changes to, or new,
accounting standards including, without limitation, changes to lease accounting standards; foreign currency exchange rate
fluctuations; and the integration of acquired businesses. The Company does not undertake any obligation to update its
forward-looking statements.
BED BATH & BEYOND 2014 ANNUAL REPORT
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