Foot Locker 2013 Annual Report Download - page 55

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Recent Accounting Pronouncements
During 2013, the Company adopted Accounting Standards Update 2013−02, Comprehensive Income (Topic 220):
Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income (‘‘ASU 2013−02’’).
ASU 2013−02 amended existing guidance by requiring additional disclosure either on the face of the income state-
ment or in the notes to the financial statements of significant amounts reclassified out of accumulated other
comprehensive income. The provisions of this new guidance were effective prospectively as of the beginning of
2013. Accordingly, enhanced footnote disclosure is included in Note 17, Accumulated Other Comprehensive Loss.
The adoption of ASU 2013−02 had no effect on our results of operations or financial position.
Other recently issued accounting pronouncements did not, or are not believed by management to, have a
material effect on the Company’s present or future consolidated financial statements.
Disclosure Regarding Forward-Looking Statements
This report contains forward-looking statements within the meaning of the federal securities laws. Other than
statements of historical facts, all statements which address activities, events, or developments that the Com-
pany anticipates will or may occur in the future, including, but not limited to, such things as future capital
expenditures, expansion, strategic plans, financial objectives, dividend payments, stock repurchases, growth of
the Company’s business and operations, including future cash flows, revenues, and earnings, and other such
matters, are forward-looking statements. These forward-looking statements are based on many assumptions
and factors which are detailed in the Company’s filings with the Securities and Exchange Commission, including
the effects of currency fluctuations, customer demand, fashion trends, competitive market forces, uncertainties
related to the effect of competitive products and pricing, customer acceptance of the Company’s merchandise
mix and retail locations, the Company’s reliance on a few key vendors for a majority of its merchandise pur-
chases (including a significant portion from one key vendor), pandemics and similar major health concerns,
unseasonable weather, deterioration of global financial markets, economic conditions worldwide, deterioration
of business and economic conditions, any changes in business, political and economic conditions due to the
threat of future terrorist activities in the United States or in other parts of the world and related U.S. military
action overseas, the ability of the Company to execute its business and strategic plans effectively with regard
to each of its business units, and risks associated with global product sourcing, including political instability,
changes in import regulations, and disruptions to transportation services and distribution.
For additional discussion on risks and uncertainties that may affect forward-looking statements, see ‘‘Risk Fac-
tors’’ in Part I, Item 1A. Any changes in such assumptions or factors could produce significantly different results.
The Company undertakes no obligation to update forward-looking statements, whether as a result of new
information, future events, or otherwise.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Information regarding foreign exchange risk management is included in the Financial Instruments and Risk
Management note under ‘‘Item 8. Consolidated Financial Statements and Supplementary Data.’’
Item 8. Consolidated Financial Statements and Supplementary Data
32