Petsmart 2000 Annual Report Download - page 53

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result of favorable settlements of real estate leases on stores identified for closure in conjunction with the fiscal
1997 restructuring charge.
The $10,410,000 balance remaining in the accrued merger, business integration and restructuring costs
liability account as of January 30, 2000 consists of store lease termination costs of $5,600,000, equipment lease
termination costs of $2,500,000, and other real estate and store closure costs of $2,310,000. Lease termination
and real estate costs paid during fiscal 1999 were approximately $9,423,000.
NOTE 6 — INCOME TAXES
Income (loss) before income tax expense (benefit) and cumulative effect of a change in accounting principle is
as follows:
Fis cal Year Ended
January 30, January 31, February 1,
2000 1999 1998
(In thousands)
United States $ 10,828 $ 54,363 $ (33,526)
Foreign (17,645) (15,257) (16,010)
$ (6,817) $ 39,106 $ (49,536)
F-14
PETSMART, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The income tax expense (benefit) before cumulative effect of a change in accounting principle consists of the
following:
Fis cal Year Ended
January 30, January 31, February 1,
2000 1999 1998
(In thous ands )
Current provision (benefit):
Federal $ (3,555) $ 14,673 $ (791)
State 781 2,021 135
(2,774) 16,694 (656)
Deferred provision (benefit):
Federal 29,941 6,924 (10,454)
State 3,392 295 (1,578)
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