2. Change in Presentation of Consolidated Statement of Cash Flows

3 Months Ended

May 04, 2014

Disclosure Text Block Supplement [Abstract]

Accounting Changes [Text Block]

2.           Change in Presentation of Consolidated Statement of Cash Flows

U.S. generally accepted accounting principles permit the direct or indirect methods of computing cash flows. We have elected to change the presentation of our cash flow statement from the direct to indirect method of computing cash flows. We believe the indirect method is preferable because:

§   it provides a more straight-forward presentation of the reconciliation between consolidated net income and consolidated cash flows;

§   it helps financial statement users to better understand how non-cash transactions are factors of consolidated net income but not sources of consolidated cash flows; and

§   it helps financial statement users to better understand the different linkages among our consolidated financial statements.

Consequently, we have recast our prior-year condensed consolidated statements of cash flows to conform to the fiscal 2015 presentation under the indirect method.