Kohl's 2014 Annual Report Download - page 57
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Please find page 57 of the 2014 Kohl's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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At any time, we may be subject to investigations, legal proceedings, or claims related to the on-going operation of our business, including claims both
by and against us. Such proceedings typically involve claims related to various forms of liability, contract disputes, allegations of violations of laws or
regulations or other actions brought by us or others including our employees, consumers, competitors, suppliers or governmental agencies. We routinely
assess the likelihood of any adverse outcomes related to these matters on a case by case basis, as well as the potential ranges of losses and fees. We establish
accruals for our potential exposure, as appropriate, for significant claims against us when losses become probable and reasonably estimable. Where we are
able to reasonably estimate a range of potential losses relating to significant matters, we record the amount within that range that constitutes our best
estimate. We also disclose the nature of and range of loss for claims against us when losses are reasonably possible and material. These accruals and
disclosures are determined based on the facts and circumstances related to the individual cases and require estimates and judgments regarding the
interpretation of facts and laws, as well as the effectiveness of strategies or other factors beyond our control.
Each quarterly period below was a 13-week accounting period.
Net sales
Gross margin
Net income
Basic shares
Basic net income per share
Diluted shares
Diluted net income per share
Net sales $ 4,199
$ 4,289
$ 4,444
$ 6,099
Gross margin $ 1,528
$ 1,676
$ 1,666
$ 2,075
Net income $ 147
$ 231
$ 177
$ 334
Basic shares 222
220
216
213
Basic net income per share $ 0.66
$ 1.05
$ 0.82
$ 1.57
Diluted shares 223
222
218
215
Diluted net income per share $ 0.66
$ 1.04
$ 0.81
$ 1.56
Due to changes in stock prices during the year and timing of share repurchases and issuances, the sum of quarterly net income per share may not equal
the annual net income per share.
One of our directors is also a shareholder of a law firm which performs legal services for us.
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