Petsmart 2002 Annual Report Download - page 79

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PETsMART, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
(2) We adopted SFAS No. 145, ""Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB
Statement No. 13, and Technical Corrections as of April 2002,'' that among other things, rescinded SFAS
No. 4, ""Reporting Gains and Losses from Extinguishment of Debt'' as of August 4, 2002, and as a result,
reclassiÑed the gain on early extinguishment of debt of $1.2 million and $4.7 million for 2001 and 2000,
respectively, as a reduction to general and administrative expenses. We also reclassiÑed the related
income tax expense of $0.5 million and $1.9 million for 2001 and 2000, respectively, to income tax
expense.
F-31