The Gap 2011 Annual Report Download - page 16

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Special Note on Forward-looking Statements
This Annual Report on Form 10-K contains forward-looking statements within the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are
forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,”
and similar expressions also identify forward-looking statements. Forward-looking statements include, but are not
limited to, statements regarding the following:
• our international expansion plans, including our plans to open Old Navy stores outside of North America, open
additional Gap stores in China, and open additional international outlet stores;
• continued growth of online sales internationally;
• the outcome of proceedings, lawsuits, disputes, and claims;
• improving sales with healthy merchandise margins;
• investing in our business while maintaining discipline;
• returning excess cash to shareholders;
• the number of new store openings and store closings in fiscal 2012;
• net square footage change in fiscal 2012;
• the number of new franchise stores in fiscal 2012;
• the number of future stores, including Gap stores in North America and Athleta stores;
• the effective tax rate in fiscal 2012;
• current cash balances and cash flows being sufficient to support our business operations, including growth
initiatives and planned capital expenditures;
• ability to supplement near-term liquidity, if necessary, with our revolving credit facility;
• capital expenditures in fiscal 2012;
• our plan to increase our dividend in fiscal 2012;
• the estimates and assumptions we use in our accounting policies;
• the assumptions used to value share-based compensation expense;
• the assumptions used to estimate the grant date fair value of stock options issued;
• our intention to utilize undistributed earnings of our foreign subsidiaries;
• total gross unrecognized tax benefits;
• expected payments to IBM;
• the maximum potential amount of future lease payments; and
• the impact of losses due to indemnification obligations.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could
cause our actual results to differ materially from those in the forward-looking statements. These factors include,
without limitation, the following:
• the risk that the adoption of new accounting pronouncements will impact future results;
2Gap Inc. Form 10-K