WeightWatchers 2008 Annual Report Download - page 62

Fluctuations in currency exchange rates, particularly with respect to the euro and pound sterling, may
impact our shareholders’ equity. The assets and liabilities of our non-U.S. subsidiaries are translated into U.S.
dollars at the exchange rates in effect at the balance sheet date. Revenues and expenses are translated into U.S.
dollars at the weighted average exchange rate for the period. The resulting translation adjustments are recorded in
shareholders’ equity as a component of accumulated other comprehensive income (loss). In addition, exchange
rate fluctuations will cause the U.S. dollar translated amounts to change in comparison to prior periods.
Item 8. Financial Statements and Supplementary Data
This information is incorporated by reference to our consolidated financial statements on pages F-1 through
F-29 and our financial statement schedule on page S-1, including the report thereon of PricewaterhouseCoopers
LLP on page F-2.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Item 9A. Controls and Procedures
Disclosure Controls and Procedures
We maintain disclosure controls and procedures that are designed to ensure that information required to be
disclosed in our reports under the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is
accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial
Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and procedures, no
matter how well designed and operated, can provide only reasonable assurance of achieving the desired control
objectives. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer,
has evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the
end of the period covered by this report. Based upon that evaluation and subject to the foregoing, our Chief
Executive Officer and Chief Financial Officer concluded that the design and operation of our disclosure controls
are effective at the reasonable assurance level.
Internal Control over Financial Reporting
Management’s Report on Internal Control Over Financial Reporting
Our management is responsible for establishing and maintaining adequate internal control over financial
reporting. Internal control over financial reporting is a process designed under the supervision and with the
participation of our management, including our principal executive officer and principal financial officer, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with accounting principles generally accepted in the United States
of America.
Our management assessed the effectiveness of our internal control over financial reporting as of January 3,
2009, the end of fiscal 2008. In making this assessment, our management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control-Integrated
Framework. Based on this assessment, management, under the supervision and with the participation of our
principal executive officer and principal financial officer, concluded that, as of January 3, 2009, our internal
control over financial reporting was effective based on those criteria.
The effectiveness of our internal control over financial reporting as of January 3, 2009 has been audited by
PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which
appears on page F-2 to our consolidated financial statements.
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