Petsmart 2011 Annual Report Download - page 82
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SCHEDULE II
PetSmart, Inc. and Subsidiaries
Valuation and Qualifying Accounts
Description
Balance at
Beginning
of Period
Charged to
Expense Deductions(1)
Balance at
End of
Period
(In thousands)
Valuation reserves deducted in the Consolidated Balance Sheets
from the asset to which it applies:
Merchandise inventories:
Lower of cost or market
2009 ......................................... $ 7,777 $ 9,652 $ (4,865) $12,564
2010 ......................................... $12,564 $ 6,493 $(12,243) $ 6,814
2011 ......................................... $ 6,814 $11,927 $(10,073) $ 8,668
Shrink
2009 ......................................... $ 6,822 $24,250 $(27,205) $ 3,867
2010 ......................................... $ 3,867 $30,046 $(30,723) $ 3,190
2011 ......................................... $ 3,190 $30,617 $(30,922) $ 2,885
(1) Deductions to the lower of cost or market reserve include recoveries of inventory previously written off as a
result of sales activity. Deductions to the shrink reserve represent adjustments to the reserve resulting from
physical inventory counts and improvements in shrink results.
A-2