|
Consolidated Statements of Cash Flows - 1Q 2007 (Unaudited)
(millions)
| |
13 Weeks Ended |
| |
May 5, 2007 |
April 29, 2006 |
| Cash flows from continuing operating activities: |
| Net income (loss) |
$36 |
$(52) |
| Adjustments to reconcile
net income (loss) to net cash used by continuing operating activities: |
| (Income) loss from discontinued operations |
16 |
(22) |
| Stock-based compensation expense |
28 |
26 |
| May integration costs |
36 |
129 |
| Depreciation and amortization |
329 |
316 |
| Amortization of financing costs and premium on acquired debt |
(9) |
(12) |
| Changes in assets and liabilities: |
Decrease in proprietary and other accounts
receivable not separately identified |
12 |
222 |
| (Increase) decrease in merchandise inventories |
(182) |
27 |
| Increase in supplies and prepaid expenses |
(30) |
(65) |
| Decrease in other assets not separately identified |
9 |
8 |
Decrease in accounts payable and accrued
liabilities not separately identified |
(220) |
(312) |
| Decrease in current income taxes |
(342) |
(471) |
| Increase (decrease) in deferred income taxes |
(77) |
50 |
| Increase in other liabilities not separately identified |
24 |
42 |
Net
cash used by
continuing operating activities |
(370) |
(114) |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(125) |
(86) |
| Capitalized software |
(25) |
(17) |
| Proceeds from the disposition of After Hours Formalwear |
66 |
- |
| Proceeds from hurricane insurance claim |
1 |
- |
| Disposition of property and equipment |
52 |
19 |
| Net cash used by continuing investing activities |
(31) |
(84) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
1,600 |
124 |
| Financing Costs |
(15) |
- |
| Debt repaid |
(8) |
(110) |
| Dividends paid |
(58) |
(69) |
| Increase (decrease) in outstanding checks |
(63) |
71 |
| Acquisition of treasury stock |
(1,991) |
- |
| Issuance of common stock |
226 |
162 |
Net
cash provided (used) by
continuing financing activities |
(309) |
178 |
| |
| Net cash used by continuing operations |
(710) |
(20) |
| Net cash provided by discontinued operating activities |
7 |
34 |
| Net cash used by discontinued investing activities |
(7) |
(33) |
| Net cash provided (used) by discontinued financing activities |
(1) |
12 |
| Net cash provided (used) by discontinued operations |
(1) |
13 |
| |
| Net decrease in cash and cash equivalents |
(711) |
(7) |
| Cash and cash equivalents at beginning of period |
1,211 |
248 |
| |
| Cash and cash equivalents at end of period |
$500 |
$241 |
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Consolidated Financial Statements:
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