|
Consolidated Statements of Cash Flows - 2Q 2007 (Unaudited)
(millions)
| |
26 Weeks Ended |
| |
August 4, 2007 |
July 29, 2006 |
| Cash flows from continuing operating activities: |
| Net income |
$110 |
$265 |
Adjustments to reconcile net income to net cash
provided by continuing operating activities: |
| (Income) loss from discontinued operations |
16 |
(57) |
| Gains on the sale of accounts receivable |
- |
(191) |
| Stock-based compensation expense |
32 |
43 |
| May integration costs |
133 |
306 |
| Depreciation and amortization |
656 |
630 |
Amortization of financing costs and premium on
acquired debt |
(17) |
(37) |
| Changes in assets and liabilities: |
Proceeds from the sale of proprietary accounts
receivable |
- |
1,860 |
Decrease in proprietary and other accounts
receivable not separately identified |
26 |
227 |
| Decrease in merchandise inventories |
117 |
157 |
| Increase in supplies and prepaid expenses |
(16) |
(45) |
(Increase) decrease in other assets not separately
identified |
13 |
(7) |
Decrease in accounts payable and accrued
liabilities not separately identified |
(310) |
(727) |
| Decrease in current income taxes |
(299) |
(21) |
| Decrease in deferred income taxes |
(89) |
(203) |
| Increase in other liabilities not separately identified |
40 |
81 |
Net
cash provided by continuing
operating activities |
412 |
2,281 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(403) |
(353) |
| Capitalized software |
(50) |
(39) |
| Proceeds from the disposition of After Hours Formalwear |
66 |
- |
| Proceeds from hurricane insurance claims |
1 |
7 |
| Repurchase of accounts receivable |
- |
(1,141) |
| Proceeds from the sale of repurchased accounts receivable |
- |
1,323 |
| Disposition of property and equipment |
71 |
443 |
Net cash provided (used) by continuing
investing activities |
(315) |
240 |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
2,253 |
46 |
| Financing Costs |
(15) |
- |
| Debt repaid |
(416) |
(1,512) |
| Dividends paid |
(117) |
(139) |
| Decrease in outstanding checks |
(97) |
(45) |
| Acquisition of treasury stock |
(2,919) |
(287) |
| Issuance of common stock |
253 |
195 |
Net
cash used by continuing
financing activities |
(1,058) |
(1,742) |
| |
| Net cash provided (used) by continuing operations |
(961) |
779 |
| Net cash provided by discontinued operating activities |
7 |
99 |
| Net cash used by discontinued investing activities |
(7) |
(41) |
| Net cash used by discontinued financing activities |
(1) |
(23) |
| Net cash provided (used) by discontinued operations |
(1) |
35 |
| |
| Net increase (decrease) in cash and cash equivalents |
(962) |
814 |
| Cash and cash equivalents at beginning of period |
1,211 |
248 |
| |
| Cash and cash equivalents at end of period |
$249 |
$1,062 |
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Consolidated Financial Statements:
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