Consolidated Statements of Cash Flows - 1Q 2008 (Unaudited)
(millions)
| |
13 Weeks Ended |
| |
May 3, 2008 |
May 5, 2007 |
| Cash flows from continuing operating activities: |
| Net income (loss) |
$(59) |
$36 |
| Adjustments to reconcile net income (loss) to net cash
provided by continuing operating activities: |
| Loss from discontinued operations |
- |
16 |
| Stock-based compensation expense |
21 |
28 |
| Division consolidation costs |
87 |
- |
| May integration costs |
- |
36 |
| Depreciation and amortization |
315 |
329 |
| Amortization of financing costs and premium on acquired debt |
(7) |
(9) |
| Changes in assets and liabilities: |
| Decrease in receivables |
78 |
12 |
| Increase in merchandise inventories |
(224) |
(182) |
| Increase in supplies and prepaid expenses |
(31) |
(30) |
| Decrease in other assets not separately identified |
- |
9 |
Increase (decrease) in accounts payable and accrued
liabilities not separately identified |
233 |
(220) |
| Decrease in current income taxes |
(408) |
(342) |
| Increase (decrease) in deferred income taxes |
22 |
(77) |
| Increase (decrease) in other liabilities not separately identified |
(6) |
24 |
Net cash provided (used) by continuing
operating activities |
21 |
(370) |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(81) |
(125) |
| Capitalized software |
(27) |
(25) |
| Proceeds from the disposition of After Hours Formalwear |
- |
66 |
| Proceeds from hurricane insurance claims |
- |
1 |
| Disposition of property and equipment |
9 |
52 |
| Net cash used by continuing investing activities |
(99) |
(31) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
- |
1,600 |
| Financing costs |
- |
(15) |
| Debt repaid |
(6) |
(8) |
| Dividends paid |
(55) |
(58) |
| Decrease in outstanding checks |
(83) |
(63) |
| Acquisition of treasury stock |
- |
(1,991) |
| Issuance of common stock |
5 |
226 |
Net cash used by continuing
financing activities |
(139) |
(309) |
| |
| Net cash used by continuing operations |
(217) |
(710) |
| |
| Net cash provided by discontinued operating activities |
- |
7 |
| Net cash used by discontinued investing activities |
- |
(7) |
| Net cash used by discontinued financing activities |
- |
(1) |
| Net cash used by discontinued operations |
- |
(1) |
| |
| Net decrease in cash and cash equivalents |
(217) |
(711) |
| Cash and cash equivalents at beginning of period |
583 |
1,211 |
| |
| Cash and cash equivalents at end of period |
$366 |
$500 |
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Historical Data:
Consolidated Financial Statements: