Consolidated Statements of Cash Flows - 3Q 2005 (Unaudited)
(millions)
| |
39 Weeks Ended |
| |
October 29, 2005 |
October 30, 2004 |
| Cash flows from continuing operating activities: |
| Net income |
$707 |
$249 |
| Adjustments to reconcile net income to net cash provided by continuing operating activities: |
| Income from discontinued operations |
(3) |
- |
| Gain on the sale of accounts receivable |
(480) |
- |
| Business integration and consolidation expenses |
63 |
- |
| Depreciation and amortization |
647 |
531 |
| Amortization of financing costs |
(7) |
5 |
| Amortization of intangible assets |
3 |
- |
| Amortization of unearned restricted stock |
1 |
2 |
| Changes in assets and liabilities: |
Decrease in proprietary and other accounts receivable
not separately identified |
137 |
196 |
| Increase in merchandise inventories |
(1,430) |
(1,044) |
| Increase in supplies and prepaid expenses |
(29) |
(18) |
| Decrease in other assets not separately identified |
24 |
- |
Increase in accounts payable and accrued liabilities
not separately identified |
694 |
712 |
| Decrease in current income taxes |
(99) |
(198) |
| Increase (decrease) in deferred income taxes |
(21) |
61 |
| Increase (decrease) in other liabilities not separately identified |
(88) |
27 |
| Net cash provided by continuing operating activities |
119 |
523 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(321) |
(316) |
| Capitalized software |
(59) |
(59) |
| Increase in non-proprietary accounts receivable |
(131) |
(142) |
| Acquisition of The May Department Stores Company, net of cash acquired |
(5,339) |
- |
| Proceeds from sale of accounts receivable |
3,583 |
- |
| Collection of notes receivable |
- |
30 |
| Disposition of property and equipment |
18 |
21 |
| Net cash used by continuing investing activities |
(2,249) |
(466) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
4,580 |
189 |
| Financing costs |
(2) |
- |
| Debt repaid |
(3,338) |
(364) |
| Dividends paid |
(89) |
(70) |
| Increase in outstanding checks |
90 |
26 |
| Acquisition of treasury stock |
(7) |
(689) |
| Issuance of common stock |
250 |
138 |
| Net cash provided (used) by continuing financing activities |
1,484 |
(770) |
| |
| Net cash used by continuing operations |
(646) |
(713) |
| Net cash provided by discontinued operations |
18 |
- |
| |
| Net decrease in cash and cash equivalents |
(628) |
(713) |
| Cash and cash equivalents at beginning of period |
868 |
925 |
| |
| Cash and cash equivalents at end of period |
$240 |
$212 |
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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Historical Data:
Consolidated Financial Statements: