Kroger 2015 Annual Report Download - page 103
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A-29
• During the first three quarters of each fiscal year, our LIFO charge and the recognition of LIFO
expense is affected primarily by estimated year-end changes in product costs. Our fiscal year LIFO
charge is affected primarily by changes in product costs at year-end.
• If actual results differ significantly from anticipated future results for certain reporting units including
variable interest entities, an impairment loss for any excess of the carrying value of the reporting
units’ goodwill over the implied fair value would have to be recognized.
• Our effective tax rate may differ from the expected rate due to changes in laws, the status of
pending items with various taxing authorities, and the deductibility of certain expenses.
• Changes in our product mix may negatively affect certain financial indicators. For example, we
continue to add supermarket fuel centers to our store base. Since fuel generates lower profit
margins than our supermarket sales, we expect to see our FIFO gross margins decline as fuel sales
increase.
We cannot fully foresee the effects of changes in economic conditions on Kroger’s business. We
have assumed economic and competitive situations will not change significantly in 2016.
Other factors and assumptions not identified above could also cause actual results to differ
materially from those set forth in the forward-looking information. Accordingly, actual events and results
may vary significantly from those included in, contemplated or implied by forward-looking statements
made by us or our representatives. We undertake no obligation to update the forward-looking information
contained in this filing.