(3) Compensated absences (paid vacation) - We identified and corrected errors to record liabilities for compensated absences (paid vacation) which were not previously recorded.(4) Leased department commissions - We corrected the presentation of leased department commissions in the Consolidated Statements of Income. Leased department commissions were presented in Other income, net of related expenses and have been corrected to report Net sales (increase of $19.1 million for 2011) and SG&A expenses (increase of $6.4 million for 2011) on a gross basis. There was no impact to Net income related to this change.
Stein Mart, Inc. Reports 2012 Results, Completion Of Restatement And Plans For 2013
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