WeightWatchers 2013 Annual Report Download - page 82

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-US subsidiaries are translated into
US dollars at the exchange rates in effect at the balance sheet date. Revenues and expenses are translated into
US dollars at the 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 US 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-33 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 principal executive officer and principal
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 principal executive officer and
principal 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 principal executive officer and principal financial officer concluded that the design and operation
of our disclosure controls and procedures are effective at the reasonable assurance level.
Internal Control Over Financial Reporting
Management’s Annual 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
December 28, 2013, the end of fiscal 2013. 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 (1992). Based on this assessment, our management, under the supervision and with the
participation of our principal executive officer and principal financial officer, concluded that, as of December 28,
2013, our internal control over financial reporting was effective based on those criteria.
The effectiveness of our internal control over financial reporting as of December 28, 2013 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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