Pep Boys 2010 Annual Report Download - page 74

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credit. During the second quarter of fiscal 2010, the formal settlement agreement between the
Company and the EPA became effective and the Company paid the monetary penalty.
The Company is also party to various other actions and claims arising in the normal course of
business. The Company believes that amounts accrued for awards or assessments in connection with all
such matters are adequate and that the ultimate resolution of these matters will not have a material
adverse effect on the Company’s financial position. However, there exists a possibility of loss in excess
of the amounts accrued, the amount of which cannot currently be estimated. While the Company does
not believe that the amount of such excess loss could be material to the Company’s financial position,
any such loss could have a material adverse effect on the Company’s results of operations in the
period(s) during which the underlying matters are resolved.
ITEM 4 (REMOVED AND RESERVED)
16