Devaluation of Venezuelan Bolivar Fuerte  ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND  FINANCIAL DISCLOSURE ITEM 9A. CONTROLS AND PROCEDURES Evaluation of Disclosure Controls and Procedures  Management’s Annual Report on Internal Control Over Financial Reporting The company accounts for its operations in Venezuela using the U.S. dollar as its functional currency. In  January 2010, the Venezuelan government announced a devaluation of the Venezuelan bolivar fuerte which  modified the official fixed rate from 2.15 Venezuelan bolivar fuerte per U.S. dollar to 4.3 bolivar fuertes per  U.S. dollar. In connection with the revaluation of its Venezuelan bolivar fuerte denominated net liability  position, the company recorded an $11.0 million foreign exchange gain in its fiscal 2010 fourth quarter. For additional disclosure on the company’s currency exchange risk, including a discussion on the  company’s Venezuelan operations, refer to Note 10 of Notes to Consolidated Financial Statements included  in Item 8 of this report. For additional disclosure on the company’s derivative financial instruments refer to  Note 11 of Notes to Consolidated Financial Statements included in Item 8 of this report. The information required by this Item is included in Part IV of this report.  None. Disclosure controls and procedures are designed with the objective of ensuring that all information required  to be disclosed in our reports filed under the Securities Exchange Act of 1934 ("Exchange Act'), such as this  report, is recorded, processed, summarized and reported within the time periods specified in the Securities  and Exchange Commission rules. Disclosure controls and procedures include, without limitation, controls  and procedures designed to ensure that information required to be disclosed by an issuer in the reports that  it files or submits under the Exchange Act is accumulated and communicated to the issuer's management,  including its chief executive and chief financial officers, or person performing similar functions, as  appropriate to allow timely decisions regarding required disclosure. However, any control system, no matter  how well conceived and followed, can provide only reasonable, and not absolute, assurance that the  objectives of the control system are met. The company evaluated, under the supervision and with the participation of the company’s management,  including the company’s Chairman of the Board, President and Chief Executive Officer and Chief Financial  Officer, the effectiveness of the design and operation of the company’s disclosure controls and procedures  (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the  “Exchange Act”)) as of the end of the period covered by this report. Based on that evaluation, the  company’s Chairman of the Board, President and Chief Executive Officer along with the company’s Chief  Financial Officer concluded that the company’s disclosure controls and procedures are effective in timely  alerting them to material information relating to the company (including its consolidated subsidiaries)  required to be disclosed in the reports the company files and submits under the Exchange Act.  Management’s assessment of the effectiveness of the company’s internal control over financial reporting is  discussed in “Management’s Report on Internal Control Over Financial Reporting” which is included in  Item 15. “Exhibits, Financial Statement Schedules” to this Annual Report on Form 10-K and appears on  page F-2. -62- 