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Consolidated Statements of Cash Flows - 2Q 2005 (Unaudited)
(millions)
| |
26 Weeks Ended |
| |
July 30, 2005 |
July 31, 2004 |
| Cash flows from operating activities: |
| Net income |
$271 |
$175 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
| Depreciation and amortization |
355 |
354 |
| Amortization of financing costs |
2 |
4 |
| Amortization of unearned restricted stock |
1 |
1 |
| Changes in assets and liabilities: |
Decrease in proprietary and other accounts receivable
not separately identified |
223 |
241 |
| Increase in merchandise inventories |
(139) |
(140) |
| Increase in supplies and prepaid expenses |
(17) |
(13) |
| Decrease in other assets not separately identified |
10 |
1 |
Increase in accounts payable and accrued liabilities
not separately identified |
64 |
82 |
| Decrease in current income taxes |
(147) |
(168) |
| Increase in deferred income taxes |
26 |
32 |
| Increase in other liabilities not separately identified |
16 |
17 |
| Net cash provided by operating activities |
665 |
586 |
| |
| Cash flows from investing activities: |
| Purchase of property and equipment |
(143) |
(175) |
| Capitalized software |
(32) |
(37) |
| Increase in non-proprietary accounts receivable |
(76) |
(96) |
| Collection of note receivable |
- |
20 |
| Disposition of property and equipment |
14 |
7 |
| Net cash used by investing activities |
(237) |
(281) |
| |
| Cash flows from financing activities: |
| Debt issued |
- |
34 |
| Debt repaid |
(16) |
(361) |
| Dividends paid |
(46) |
(47) |
| Decrease in outstanding checks |
(55) |
(27) |
| Acquisition of treasury stock |
(7) |
(353) |
| Issuance of common stock |
227 |
129 |
| Net cash provided (used) by financing activities |
103 |
(625) |
| |
| Net increase (decrease) in cash |
531 |
(320) |
| Cash at beginning of period |
868 |
925 |
| |
| Cash at end of period |
$1,399 |
$605 |
Note - Certain reclassifications were made to prior year's amounts to reflect increases in non-proprietary accounts receivable as cash used by investing activities instead of operating activities to conform with the classifications of such amounts for the most recent year.
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Consolidated Financial Statements:
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