If our long-lived assets, goodwill or other intangible assets become impaired, we may need to record significant non-cash impairment charges. for Foot

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Foot Locker (FL)

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FL » Topics » If our long-lived assets, goodwill or other intangible assets become impaired, we may need to record significant non-cash impairment charges.

These excerpts taken from the FL 10-K filed Mar 30, 2009.

If our long-lived assets, goodwill or other intangible assets become impaired, we may need to record significant non-cash impairment charges.

We review our long-lived assets, goodwill and other intangible assets when events indicate that the carrying value of such assets may be impaired. Goodwill and other indefinite lived intangible assets are reviewed for impairment if impairment indicators arise and, at a minimum, annually. We determine fair value based on a combination of a discounted cash flow approach and market-based approach. If an impairment trigger is identified, the carrying value is compared to its estimated fair value and provisions for impairment are recorded as appropriate. Impairment losses are significantly affected by estimates of future operating cash flows and estimates of fair value. Our estimates of future operating cash flows are identified from our three-year plans, which are based upon our experience, knowledge and expectations; however, these estimates can be affected by such factors as our future operating results, future store profitability, and future economic conditions, all of which can be difficult to predict.

Similar to others in our industry, the recent macroeconomic conditions have affected both our performance, as well as our stock price and market capitalization, and it is difficult to predict how long these economic conditions will continue, whether they will continue to deteriorate, and which aspects of our business may be adversely affected. These conditions and the continuation of these conditions could affect the fair value of our long-lived assets, goodwill and other intangible assets and could result in future impairment charges, which would adversely affect our results of operations.

If our long-lived assets, goodwill
or other intangible assets become impaired, we may need to record significant
non-cash impairment charges.

We
review our long-lived assets, goodwill and other intangible assets when events
indicate that the carrying value of such assets may be impaired. Goodwill and
other indefinite lived intangible assets are reviewed for impairment if
impairment indicators arise and, at a minimum, annually. We determine fair value
based on a combination of a discounted cash flow approach and market-based
approach. If an impairment trigger is identified, the carrying value is compared
to its estimated fair value and provisions for impairment are recorded as
appropriate. Impairment losses are significantly affected by estimates of future
operating cash flows and estimates of fair value. Our estimates of future
operating cash flows are identified from our three-year plans, which are based
upon our experience, knowledge and expectations; however, these estimates can be
affected by such factors as our future operating results, future store
profitability, and future economic conditions, all of which can be difficult to
predict.

Similar
to others in our industry, the recent macroeconomic conditions have affected
both our performance, as well as our stock price and market
capitalization, and it is difficult to predict how long these economic
conditions will continue, whether they will continue to deteriorate, and which
aspects of our business may be adversely affected. These conditions and the
continuation of these conditions could affect the fair value of our long-lived
assets, goodwill and other intangible assets and could result in future
impairment charges, which would adversely affect our results of
operations.

If our long-lived assets, goodwill
or other intangible assets become impaired, we may need to record significant
non-cash impairment charges.

We
review our long-lived assets, goodwill and other intangible assets when events
indicate that the carrying value of such assets may be impaired. Goodwill and
other indefinite lived intangible assets are reviewed for impairment if
impairment indicators arise and, at a minimum, annually. We determine fair value
based on a combination of a discounted cash flow approach and market-based
approach. If an impairment trigger is identified, the carrying value is compared
to its estimated fair value and provisions for impairment are recorded as
appropriate. Impairment losses are significantly affected by estimates of future
operating cash flows and estimates of fair value. Our estimates of future
operating cash flows are identified from our three-year plans, which are based
upon our experience, knowledge and expectations; however, these estimates can be
affected by such factors as our future operating results, future store
profitability, and future economic conditions, all of which can be difficult to
predict.

Similar
to others in our industry, the recent macroeconomic conditions have affected
both our performance, as well as our stock price and market
capitalization, and it is difficult to predict how long these economic
conditions will continue, whether they will continue to deteriorate, and which
aspects of our business may be adversely affected. These conditions and the
continuation of these conditions could affect the fair value of our long-lived
assets, goodwill and other intangible assets and could result in future
impairment charges, which would adversely affect our results of
operations.

EXCERPTS ON THIS PAGE:

10-K (3 sections)	Mar 30, 2009

Foot Locker (FL)

FL » Topics » If our long-lived assets, goodwill or other intangible assets become impaired, we may need to record significant non-cash impairment charges.

EXCERPTS ON THIS PAGE:

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