The Gap 2014 Annual Report Download - page 7

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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:
• international expansion, including new Gap and Old Navy stores in Asia, additional international outlet stores,
increased international online sales, and franchise expansion;
• opening additional Athleta stores;
• Intermix opportunities;
• Piperlime closure;
• product acceptance and consistency improvements, in particular at Gap brand;
• investment in digital capabilities and further enhancement of our shopping capabilities;
• attracting, retaining, and training talent;
• impact of foreign exchange rate fluctuations on financial results;
• impact of West Coast port work slowdowns and stoppages on financial results;
• our ability to supplement near-term liquidity, if necessary, with our revolving credit facility;
• target cash balance and ability to provide for our working capital needs and for unexpected business downturns;
• the outcome of proceedings, lawsuits, disputes, and claims;
• returning excess cash to shareholders;
• the 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 capital expenditures;
• cash spending for purchases of property and equipment in fiscal 2015;
• our intent to increase our dividend in fiscal 2015;
• the impact of accounting pronouncements;
• the estimates and assumptions we use in our accounting policies;
• the assumptions used to estimate the grant date fair value of stock options;
• our intention to utilize undistributed earnings of our foreign subsidiaries;
• total gross unrecognized tax benefits;
• expected payments to International Business Machines Corporation (“IBM”); 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;