The Gap 2014 Annual Report Download

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2014 ANNUAL REPORT

Table of contents

  • Page 1
    2014 ANNUAL REPORT

  • Page 2
    ... priorities for 2015 and beyond: Global Growtp, Product, Experience, and Talent. Let me start witp growtp. Around tpe world, we continued to make progress witp our long-term global growtp strategy in 2014, adding almost 40 new stores in greater Cpina, including seven Old Navy stores and Gap's 100tp...

  • Page 3
    .... To bridge tpe digital and ppysical spopping experiences for customers, we've continued to break tprougp witp new capabilities across a wide range of areas, including mobile, personalization, omni-cpannel, loyalty and customer relationspip management. A number of programs-sucp as Order in Store and...

  • Page 4
    ... years of service. And last year, employees at tpis company volunteered more tpan 500,000 pours. Tpat must make you feel proud. Doris: It does make me incredibly proud tpat our employees care so mucp about giving back and want to support tpe communities tpey live in. An employee at Old Navy recently...

  • Page 5
    ... to Commission File Number 1-7562 THE GAP, INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorporation) Two Folsom Street, San Francisco, California (Address of principal executive offices) 94-1697231 (I.R.S. Employer Identification No.) 94105 (Zip code) Registrant...

  • Page 6
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  • Page 7
    ... number of new store openings and store closings in fiscal 2015; • net square footage change in fiscal 2015; • the number of new franchise stores in fiscal 2015; • current cash balances and cash flows being sufficient to support our business operations, including growth initiatives and planned...

  • Page 8
    ...• the risk that our investments in omni-channel shopping initiatives may not deliver the results we anticipate; • the risk that comparable sales and margins will experience fluctuations; • the risk that changes in our credit profile or deterioration in market conditions may limit our access to...

  • Page 9
    Future economic and industry trends that could potentially impact net sales and profitability are difficult to predict. These forward-looking statements are based on information as of March 23, 2015, and we assume no obligation to publicly update or revise our forward-looking statements even if ...

  • Page 10
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  • Page 11
    ... About Market Risk ...Item 8. Item 9. Financial Statements and Supplementary Data ...Changes in and Disagreements With Accountants on Accounting and Financial Disclosure... Item 9A. Controls and Procedures ...Item 9B. Other Information ...PART III Item 10. Directors, Executive Officers and Corporate...

  • Page 12
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  • Page 13
    ...Piperlime brand. We expect to close the online platform and the store in New York by the end of the first half of fiscal 2015. Gap Inc. has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China, Hong Kong, and as of March 2014, Taiwan. We also...

  • Page 14
    ... store in 1994, making current American essentials accessible to every family. The brand brings a fun, energizing shopping environment to its customers, offering on-trend clothing and accessories for adults and children at great prices. In 2012, Old Navy opened its first store outside North America...

  • Page 15
    ... in our business and enhance the customer experience through significant investments in marketing and our omni-channel capabilities, enhancement of our online shopping sites, international expansion, remodeling of existing stores, and investments in our supply chain. Trademarks and Service Marks Gap...

  • Page 16
    ...2013 to January 2015; Senior Vice President, Enterprise Product Management from March 2012 to February 2013; Vice President, International E-Commerce and Product Management from March 2009 to March 2012; Vice President, Growth, Innovation, and Digital Product Management from March 2006 to March 2009...

  • Page 17
    ..., Old Navy International from February 2013 to November 2013; Senior Vice President and Managing Director, Europe from May 2011 to February 2013; Senior Vice President and General Manager, International Outlets from January 2010 to May 2011; Vice President of Global Production, Supply Chain - Outlet...

  • Page 18
    ...expansion in a number of countries around the world through a number of channels. We currently plan to open additional Old Navy stores outside of North America, including in Japan and China, open additional Gap stores in China, open additional international outlet stores, and continue to grow online...

  • Page 19
    ... by our vendors in the manufacture of our products, our vendors might not be able to locate alternative suppliers of materials of comparable quality at an acceptable price. Any delays, interruption, or increased costs in the manufacture of our products could result in lower sales and net income. In...

  • Page 20
    ... real estate is competitive. Our ability to effectively obtain real estate - to open new stores, distribution centers, and corporate offices nationally and internationally - depends on the availability of real estate that meets our criteria for traffic, square footage, co-tenancies, lease economics...

  • Page 21
    ...omni-channel shopping experience for our customers through the integration of our store and digital shopping channels. Examples of our recent omni-channel initiatives include our ship-from-store, reserve-in-store, and order-in-store programs. We continue to explore additional ways to develop an omni...

  • Page 22
    ... diverse customer base, managing inventory effectively, using effective pricing strategies, and optimizing store performance. Failure to meet the expectations of investors, securities analysts, or credit rating agencies in one or more future periods could reduce the market price of our common stock...

  • Page 23
    ... million square feet of corporate office space located in San Francisco, Rocklin, Petaluma, Pleasanton, and Los Angeles, California; New York, New York; Albuquerque, New Mexico; and Toronto, Ontario, Canada. We also lease regional offices in North America and in various international locations. We...

  • Page 24
    ..., or resolutions may occur and impact income in the quarter of such development, settlement, or resolution. However, we do not believe that the outcome of any current Action would have a material effect on our Consolidated Financial Statements. Item 4. Mine Safety Disclosures. Not applicable. 12

  • Page 25
    ... is the New York Stock Exchange. The number of holders of record of our stock as of March 17, 2015 was 7,264. The table below sets forth the market prices and dividends declared and paid for each of the fiscal quarters in fiscal 2014 and 2013. Market Prices Fiscal 2014 High Low Fiscal 2013 High Low...

  • Page 26
    ...28/2012 2/2/2013 2/1/2014 1/31/2015 The Gap, Inc. S&P 500 Dow Jones U.S. Apparel Retailers $ $ $ 100.00 100.00 100.00 $ $ $ 102.59 122.19 124.04 $ $ $ 103.57 127.34 147.67 $ $ $ 183.44 148.71 184.91 $ $ $ 215.72 180.70 210.27 $ $ $ 238.34 206.41 254.63 Source: Research Data Group, Inc...

  • Page 27
    ... purchases of common stock of the Company made during the thirteen weeks ended January 31, 2015 by The Gap, Inc. or any affiliated purchaser, as defined in Exchange Act Rule 10b-18(a)(3): Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or approximate...

  • Page 28
    ... the Company's Consolidated Financial Statements and related notes in Item 8. Fiscal Year (number of weeks) 2014 (52) 2013 (52) 2012 (53) 2011 (52) 2010 (52) Operating Results ($ in millions) Net sales Gross margin Operating margin Net income Cash dividends paid Per Share Data (number of shares in...

  • Page 29
    ... all of the outstanding capital stock of Intermix, a multi-brand specialty retailer of luxury and contemporary apparel and accessories, for an aggregate purchase price of $129 million. Includes the associated comparable online sales. Includes Company-operated and franchise store locations. 17

  • Page 30
    ... apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. We have Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China, Hong Kong, and...

  • Page 31
    ... Consolidated Financial Statements for net sales by brand and region. Comparable Sales The percentage change in Comp sales by global brand and for total Company, as compared with the preceding year, is as follows: Fiscal Year 2014 2013 Gap Global Old Navy Global Banana Republic Global The Gap, Inc...

  • Page 32
    ... current year and prior year Comp sales to achieve a consistent basis for comparison. Store Count and Square Footage Information Net sales per average square foot is as follows: 2014 Fiscal Year 2013 2012 Net sales per average square foot (1) _____ (1) Excludes net sales associated with our online...

  • Page 33
    ...and square footage for our stores are as follows: February 1, 2014 Number of Store Locations Fiscal 2014 Number of Number of Stores Opened Stores Closed January 31, 2015 Number of Square Footage Store Locations (in millions) Gap North America Gap Asia Gap Europe Old Navy North America Old Navy Asia...

  • Page 34
    ...net sales in fiscal 2014 compared with fiscal 2013, primarily driven by increased promotional activities and markdowns; partially offset by the reclassification of a portion of income related to our credit card program... expansion of Company-operated stores in international markets, which generally...

  • Page 35
    ...a percentage of net sales, in fiscal 2013 compared with fiscal 2012. The decrease in operating expenses was primarily due to lower corporate overhead expenses and store payroll, as well as a decrease in marketing expenses. Interest Expense ($ in millions) 2014 Fiscal Year 2013 2012 Interest expense...

  • Page 36
    ... activities during fiscal 2014 increased $424 million compared with fiscal 2013, primarily due to the following: • an increase of $284 million related to other current assets and other long-term assets primarily due to the change in timing of payments received related to our credit card program...

  • Page 37
    ... regular capital expenditures to build and maintain stores and purchase new equipment to improve our business. We use this metric internally, as we believe our sustained ability to generate free cash flow is an important driver of value creation. However, this non-GAAP financial measure is not...

  • Page 38
    ... millions) 2014 Fiscal Year 2013 2012 Net cash provided by operating activities Less: Purchases of property and equipment Free cash flow Long-Term Debt and Credit Facilities $ $ 2,129 $ (714) 1,415 $ 1,705 $ (670) 1,035 $ 1,936 (659) 1,277 Certain financial information about the Company's long...

  • Page 39
    ..., taxes, and contingent rent obligations. See Note 12 of Notes to Consolidated Financial Statements for discussion of our operating leases. Represents estimated open purchase orders to purchase inventory as well as commitments for products and services used in the normal course of business. There...

  • Page 40
    ..., including forecasting future sales and expenses and estimating useful lives of the assets. These estimates can be affected by factors such as future store results, real estate demand, and economic conditions that can be difficult to predict. We have not made any material changes in the methodology...

  • Page 41
    ... an important accounting policy. We recognize revenue and the related cost of goods sold at the time the products are received by the customers. For sales transacted at stores, revenue is recognized when the customer receives and pays for the merchandise at the register. For sales where we ship the...

  • Page 42
    ... three fiscal years. Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers Upon issuance of a gift card, gift certificate, or credit voucher, a liability is established for its cash value. The liability is relieved and net sales are recorded upon redemption by the customer. Over time, some...

  • Page 43
    ...interest rate risk associated with a 15 billion Japanese yen ($128 million as of January 31, 2015), four-year, unsecured term loan as of January 31, 2015 is as follows: Expected Maturity Date (Fiscal Year) (Â¥ in billions) 2015 2016 2017 2018 Total Fair Value (1) Principal payments Average interest...

  • Page 44
    ...8. Financial Statements and Supplementary Data. THE GAP, INC. INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Report of Independent Registered Public Accounting Firm ...Consolidated Balance Sheets as of January 31, 2015 and February 1, 2014 ...Consolidated Statements of Income for the fiscal years...

  • Page 45
    ... 31, 2015 and February 1, 2014, and the related consolidated statements of income, comprehensive income, stockholders' equity, and cash flows, for each of the three fiscal years in the period ended January 31, 2015. We also have audited the Company's internal control over financial reporting as of...

  • Page 46
    THE GAP, INC. CONSOLIDATED BALANCE SHEETS January 31, 2015 February 1, 2014 ($ and shares in millions except par value) ASSETS Current assets: Cash and cash equivalents Merchandise inventory Other current assets Total current assets Property and equipment, net Other long-term assets Total assets ...

  • Page 47
    ... GAP, INC. CONSOLIDATED STATEMENTS OF INCOME Fiscal Year ($ and shares in millions except per share amounts) 2014 2013 2012 Net sales Cost of goods sold and occupancy expenses Gross profit Operating expenses Operating income Interest expense Interest income Income before income taxes Income taxes...

  • Page 48
    THE GAP, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal Year ($ in millions) 2014 2013 2012 Net income Other comprehensive income (loss), net of tax: Foreign currency translation, net of tax (tax benefit) of $(2), $5, and $Change in fair value of derivative financial instruments, net ...

  • Page 49
    ... stock under share-based compensation plans, net of shares withheld for employee taxes Tax benefit from exercise of stock options and vesting of stock units Share-based compensation, net of estimated forfeitures Common stock cash dividends ($0.70 per share) Balance as of February 1, 2014 Net...

  • Page 50
    ...Fiscal Year 2013 ($ in millions) 2014 2012 Cash flows from operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Amortization of lease incentives Share-based compensation Tax benefit from exercise of stock...

  • Page 51
    ... apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. We have Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, Italy, China, Hong Kong, and...

  • Page 52
    ...using the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows: Category Term Leasehold improvements Furniture and equipment Buildings and building improvements Software Shorter of remaining lease term or economic life, up to 15 years Up...

  • Page 53
    ... and pays for the merchandise at the register. For sales where we ship the merchandise to the customer from the distribution center or store, revenue is recognized at the time the customer receives the product. Amounts related to shipping and handling that are billed to customers are recorded in net...

  • Page 54
    ...expenses and distribution center general and administrative expenses recorded in operating expenses were $255 million, $243 million, and $231 million in fiscal 2014, 2013, and 2012, respectively. We receive payments from third parties that provide our customers with private label credit cards and/or...

  • Page 55
    ... loss in an amount equal to the excess, not to exceed the carrying amount. A reporting unit is an operating segment or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. We have deemed Athleta...

  • Page 56
    ... to provide service in exchange for stock options and Stock Units. Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers Upon issuance of a gift card, gift certificate, or credit voucher, a liability is established for its cash value. The liability is relieved and net sales are recorded...

  • Page 57
    ... Republic, or Old Navy and can be used at any of our U.S. or Canadian store locations and online. The co-branded credit card is a VISA credit card bearing the logo of Gap, Banana Republic, or Old Navy and can be used everywhere VISA credit cards are accepted. A third-party financing company is the...

  • Page 58
    ... Financial Statements. Note 2. Additional Financial Statement Information Cash and Cash Equivalents Cash and cash equivalents consist of the following: ($ in millions) January 31, 2015 February 1, 2014 Cash (1) Bank certificates of deposit and time deposits Money market funds Cash equivalents Cash...

  • Page 59
    ... 2014, 2013, or 2012. Other Current Assets Other current assets consist of the following: ($ in millions) January 31, 2015 February 1, 2014 Accounts receivable Prepaid minimum rent and occupancy expenses Prepaid income taxes Current portion of deferred tax assets Derivative financial instruments...

  • Page 60
    ... Balance Sheets. Note 3. Acquisition On December 31, 2012, we acquired all of the outstanding capital stock of Intermix Holdco Inc. ("Intermix"), a multi-brand retailer of luxury and contemporary women's apparel and accessories based in New York, New York, for an aggregate purchase price...

  • Page 61
    ... adjustments did not have a material impact on our Consolidated Financial Statements for any period reported, and therefore, we have not retrospectively adjusted our Consolidated Balance Sheet as of February 2, 2013. Purchase Price Allocation as of Acquisition Date (1) Measurement Period Adjustments...

  • Page 62
    ..., net of the unamortized discount. As of January 31, 2015 and February 1, 2014, the estimated fair value of the Notes was $1.44 billion and $1.39 billion, respectively, and was based on the quoted market price of the Notes (level 1 inputs) as of the last business day of the respective fiscal year...

  • Page 63
    ...2 during fiscal 2014 or 2013. Financial Assets and Liabilities Financial assets and liabilities measured at fair value on a recurring basis and cash equivalents held at amortized cost are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets...

  • Page 64
    ... at Reporting Date Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) ($ in millions) February 1, 2014 Assets: Cash equivalents Derivative financial instruments Deferred compensation plan...

  • Page 65
    ... exchange forward contracts to hedge the net assets of international subsidiaries to offset the foreign currency translation and economic exposures related to our investment in the subsidiaries. There were no material amounts recorded in income for fiscal 2014, 2013, or 2012 as a result of hedge...

  • Page 66
    ... of our derivative financial instruments in the Consolidated Balance Sheets, and as such, the fair values shown above represent gross amounts. The amounts subject to enforceable master netting arrangements are $1 million and $1 million as of January 31, 2015 and February 1, 2014, respectively. If we...

  • Page 67
    ...in the Consolidated Statements of Income, on a pre-tax basis are as follows: Fiscal Year ($ in millions) 2014 2013 2012 Gain recognized in operating expenses $ 20 $ 5 $ 5 Note 9. Common Stock Common and Preferred Stock The Company is authorized to issue 2.3 billion shares of common stock. We...

  • Page 68
    ... in accumulated OCI by component, net of tax, are as follows: Foreign Currency Translation Cash Flow Hedges ($ in millions) Total Balance at February 1, 2014 Foreign currency translation Change in fair value of derivative financial instruments Amounts reclassified from accumulated OCI Other...

  • Page 69
    ... Year ($ in millions) 2014 2013 2012 Stock units Stock options Employee stock purchase plan Share-based compensation expense Less: Income tax benefit Share-based compensation expense, net of tax $ $ 86 $ 9 5 100 (37) 63 $ 99 $ 12 5 116 (45) 71 $ 92 17 4 113 (44) 69 No material share-based...

  • Page 70
    ... based on the grant-date fair value and the probability that the pre-determined financial target will be achieved. A summary of Stock Unit activity under the 2011 Plan for fiscal 2014 is as follows: Weighted-Average Grant-Date Fair Value Shares Balance as of February 1, 2014 Granted Granted, with...

  • Page 71
    ... Year 2013 2012 Expected term (in years) Expected volatility Dividend yield Risk-free interest rate 4.4 27.3% 2.1% 1.3% 4.5 31.5% 1.7% 0.7% 4.6 33.6% 2.1% 1.0% A summary of stock option activity under the 2011 Plan and the 2002 Plan for fiscal 2014 is as follows: WeightedAverage Exercise Price...

  • Page 72
    ... the future under non-cancelable sublease agreements. Rent expense related to our store premises, corporate facilities, and distribution centers under operating leases is as follows: ($ in millions) 2014 Fiscal Year 2013 2012 Minimum rent expense Contingent rent expense Less: Sublease income Total...

  • Page 73
    ... the Company's overall cash position and anticipated cash needs, we made a $473 million distribution of certain foreign earnings in fiscal 2014, resulting in an overall net tax benefit of approximately $41 million. The benefit is primarily due to the recognition of foreign tax credits which exceeded...

  • Page 74
    ...of current year earnings was in excess of the amount we expect to utilize in certain foreign operations for an indefinite period of time and we have recorded related tax expense of $28 million in fiscal 2014. U.S. income tax has not been recognized on the excess of the amount for financial reporting...

  • Page 75
    ... Plan and the GapShare Puerto Rico Plan (the "Plans"), which are available to employees who meet the eligibility requirements. The Plans permit eligible employees to make contributions up to the maximum limits allowable under the applicable Internal Revenue Codes. Under the Plans, we match, in cash...

  • Page 76
    ...fiscal 2014, 2013, and 2012 were not material. Note 15. Earnings per Share Weighted-average number of shares used for earnings per share is as follows: (shares in millions) 2014 Fiscal Year 2013 2012 Weighted-average number of shares-basic Common stock equivalents Weighted-average number of shares...

  • Page 77
    ... material effect on our Consolidated Financial Statements taken as a whole. Note 17. Segment Information We identify our operating segments according to how our business activities are managed and evaluated. As of January 31, 2015, we had four operating segments: Gap Global, Old Navy Global, Banana...

  • Page 78
    ... 2014, 2013, and 2012, respectively. Net sales by region are allocated based on the location in which the sale was originated. This is determined based on the location of the store where the customer paid for and received the merchandise or the distribution center or store from which the products...

  • Page 79
    ... financial instruments in an asset position and long-term deferred tax assets, by geographic location are as follows: ($ in millions) January 31, 2015 February 1, 2014 U.S. (1) Canada Total North America Other regions Total long-lived assets _____ (1) U.S. includes the United States, Puerto Rico...

  • Page 80
    ...code of ethics, our Code of Business Conduct, which applies to all employees including our principal executive officer, principal financial officer, controller, and persons performing similar functions. Our Code of Business Conduct is available on our website, gapinc.com, under "Investors, Corporate...

  • Page 81
    ... and Management and Related Stockholder Matters. The information required by this item is incorporated herein by reference to the sections entitled "Executive Compensation and Related Information-Equity Compensation Plan Information" and "Beneficial Ownership of Shares" in the 2015 Proxy Statement...

  • Page 82
    ..." in Part II, Item 8 of this Form 10K. Financial Statement Schedules: Schedules are included in the Consolidated Financial Statements or notes of this Form 10-K or are not required. Exhibits: The exhibits listed in the accompanying index to exhibits are filed or incorporated by reference as part of...

  • Page 83
    ...THE GAP, INC. Date: March 23, 2015 By /s/ ARTHUR PECK Arthur Peck Chief Executive Officer (Principal Executive Officer) Date: March 23, 2015 By /s/ SABRINA L. SIMMONS Sabrina L. Simmons Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) Pursuant...

  • Page 84
    ... to Registrant's Annual Report on Form 10-K for year ended January 29, 2000, Commission File No. 1-7562. Amended and Restated Bylaws of the Company (effective February 1, 2015), filed as Exhibit 3(ii) to Registrant's Form 8-K on November 14, 2014, Commission File No. 1-7562. Indenture, dated as of...

  • Page 85
    .... (1) Amended and Restated Consumer Credit Card Program Agreement by and among Registrant, Gap (Puerto Rico), Inc., GPS Consumer Direct, Inc., Gap (Apparel), LLC, Gap (ITM) Inc., GE Capital Retail Bank and GE Capital Retail Finance Corporation, dated as of February 28, 2014, filed as Exhibit 10.1 to...

  • Page 86
    ... Commission File No. 33-54690. Management Incentive Restricted Stock Plan II, filed as Exhibit 4.1 to Registrant's Registration Statement on Form S-8, Commission File No. 33-54686. 1996 Stock Option and Award Plan, filed as Exhibit A to Registrant's definitive proxy statement for its annual meeting...

  • Page 87
    .... UK Employee Stock Purchase Plan, filed as Exhibit 4.1 to Registrant's Registration Statement on Form S-8, Commission File No. 333-47508. 2002 Stock Option Plan, as amended (formerly the 1999 Stock Option Plan as amended and Stock Up On Success, The Gap, Inc.'s Stock Option Bonus Program), filed as...

  • Page 88
    ...'s 2002 Stock Option Plan, as amended, filed as Exhibit 4.7 to Registrant's Registration Statement on Form S-8, Commission File No. 333-72921. Non-Employee Director Retirement Plan, dated October 27, 1992, filed as Exhibit 10.43 to Registrant's Annual Report on Form 10-K for the year ended January...

  • Page 89
    ... No. 1 to Registrant's 2006 Long-Term Incentive Plan, filed as Exhibit 10.62 to Registrant's Form 10-K for the year ended February 3, 2007, Commission File No. 1-7562. 2011 Long-Term Incentive Plan, filed as Appendix A to Registrant's definitive proxy statement for its annual meeting of stockholders...

  • Page 90
    ...for the year ended February 2, 2013, Commission File No. 1-7562. Form of Performance Share Agreement under the 2011 Long-Term Incentive Plan, filed as Exhibit 10.4 to Registrant's form 8-K on March 6, 2014, Commission File No. 1.7562. Form of Restricted Stock Unit Award Agreement under the 2006 Long...

  • Page 91
    ...7562. Form of Director Stock Unit Agreement and Stock Unit Deferral Election Form under the 2011 LongTerm Incentive Plan, filed as Exhibit 10.5 to Registrant's Form 8-K on March 6, 2014, Commission File No. 1-7562. Summary of Revised Timing of Annual Board Member Stock Unit Grants, effective August...

  • Page 92
    ... of Arrangement with Glenn Murphy for Corporate Jet Usage and Reimbursement for Commercial Travel, filed as Exhibit 101 to Registrant's Form 10-K for the year ended February 2, 2008, Commission File No. 1-7562. CEO Performance Share Agreement dated May 4, 2012, filed as Exhibit 10.1 to Registrant...

  • Page 93
    ... to the Amended Service Agreement with Stephen Sunnucks dated August 25, 2011, filed as Exhibit 10.118 to Registrant's Form 10-K for the year ended February 2, 2013, Commission File No. 1-7562. Amendment to the Amended Service Agreement with Stephen Sunnucks dated May 30, 2012, filed as Exhibit 10...

  • Page 94
    ... Chief Financial Officer of The Gap, Inc. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (3) The following materials from The Gap, Inc.'s Annual Report on Form 10-K for the year ended January 31, 2015, formatted in XBRL (eXtensible Business...

  • Page 95
    ... SVP, Global Real Estate, Store Development and Franchise Services Bobbi Silten SVP, Global Sustainability and President, Gap Foundation CORPORATE AND SHAREHOLDER INFORMATION Gap Inc. Investor Relations Please see the Investors tab on www.gapinc.com. 2 Folsom Street San Francisco, CA 94105 415...

  • Page 96
    Celebrate 2014 witp us by exploring some of our favorite moments, remixed for a fresp take. gapinc.com/remix