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## 4. COMMITMENTS AND CONTINGENCIES (Continued) 

## THE CHILDREN’S PLACE RETAIL STORES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 

Future minimum annual lease payments under the Company’ operating leases at February 2, 2002, are as follows (dollars in thousands): 

## 5. LITIGATION 

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The Company is involved in various legal proceedings arising in the normal course of its business. In the opinion of management, any ultimate liability arising out of such proceedings, will not have a material adverse effect on the Company’ financial position or results of operations. 

## 6. INCOME TAXES 

Components of the Company’ provision for income taxes consisted of the following (dollars in thousands): 

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