DSW 2015 Annual Report Download - page 22

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Table of Contents
(13) A store or affiliated shoe department is considered comparable when in operation for at least 14 months at the beginning of the fiscal year. Stores or
affiliated business departments, as the case may be, are added to the comparable base at the beginning of the year and are dropped for comparative
purposes in the quarter they are closed.
(14) The Company previously classified income tax interest and penalties as part of operating expenses in its statement of operations. Beginning in the first
quarter of fiscal 2015, the Company elected to reflect interest and penalties from income taxes through the income tax provision in its statement of
operations. The change in accounting policy has been applied retrospectively by adjusting the statement of operations for the prior periods presented.
The change to historical periods was limited to classifications within the consolidated statement of operations and has no effect on net income or
earnings per share.
(15) In November 2015, the Financial Accounting Standards Board ("FASB") released Accounting Standards Update ("ASU") 2015-17, which requires entities
to present deferred tax assets and deferred tax liabilities as non-current in a classified balance sheet. The Company elected to early adopt the standard in
the fourth quarter of fiscal 2015 and applied the amendments retrospectively to maintain comparability of its balance sheet and related ratios. The
change in accounting standard has been applied retrospectively by adjusting the balance sheet for the prior periods presented.
18
Source: DSW Inc., 10-K, March 24, 2016 Powered by Morningstar® Document Research℠
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