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Consolidated Statements of Cash Flows - 1Q 2006 (Unaudited)
(millions)
| |
13 Weeks Ended |
| |
April 29, 2006 |
April 30, 2005 |
| Cash flows from continuing operating activities: |
| Net income (loss) |
$(52) |
$123 |
| Adjustments to reconcile net income (loss) to net cash provided (used) by continuing operating activities: |
| Income from discontinued operations |
(22) |
- |
| Stock-based compensation |
26 |
3 |
| May integration costs |
129 |
- |
| Depreciation and amortization |
316 |
177 |
| Amortization of financing costs |
(12) |
1 |
| Changes in assets and liabilities: |
Decrease in proprietary and other accounts
receivable not separately identified |
222 |
121 |
| (Increase) decrease in merchandise inventories |
27 |
(294) |
| Increase in supplies and prepaid expenses |
(65) |
(21) |
| Decrease in other assets not separately identified |
8 |
7 |
Increase (decrease) in accounts payable and accrued
liabilities not separately identified |
(312) |
89 |
| Decrease in current income taxes |
(471) |
(97) |
| Increase (decrease) in deferred income taxes |
50 |
(56) |
| Increase in other liabilities not separately identified |
42 |
3 |
Net cash provided (used) by
continuing operating activities |
(114) |
56 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(86) |
(36) |
| Capitalized software |
(17) |
(16) |
| Increase in non-proprietary accounts receivable |
- |
(16) |
| Disposition of property and equipment |
19 |
7 |
| Net cash used by continuing investing activities |
(84) |
(61) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
124 |
- |
| Debt repaid |
(110) |
(18) |
| Dividends paid |
(69) |
(23) |
| Increase (decrease) in outstanding checks |
71 |
(8) |
| Acquisition of treasury stock |
- |
(1) |
| Issuance of common stock |
162 |
105 |
Net cash provided by
continuing financing activities |
178 |
55 |
| |
| Net cash provided (used) by continuing operations |
(20) |
50 |
| Net cash provided by discontinued operating activities |
34 |
– |
| Net cash used by discontinued investing activities |
(33) |
– |
| Net cash provided by discontinued financing activities |
12 |
– |
| Net cash provided by discontinued operations |
13 |
– |
| |
| Net increase (decrease) in cash and cash equivalents |
(7) |
50 |
| Cash and cash equivalents at beginning of period |
248 |
868 |
| |
| Cash and cash equivalents at end of period |
$241 |
$918 |
Notes:
(1) Certain reclassifications were made to prior period amounts to conform with the classifications of such amounts for the most recent period.
(2) Stock-based compensation consists of compensation expense for restricted stock grants, stock credit plans and stock options.
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Consolidated Financial Statements:
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