Consolidated Statements of Cash Flows - 3Q 2008 (Unaudited)
(millions)
| |
39 Weeks Ended |
39 Weeks Ended |
| |
November 1, 2008 |
November 3, 2007 |
| Cash flows from continuing operating activities: |
| Net income (loss) |
$(30) |
$143 |
Adjustments to reconcile net income (loss) to net cash
provided by continuing operating activities: |
| Loss from discontinued operations |
- |
16 |
| Stock-based compensation expense |
32 |
48 |
| Division consolidation costs |
129 |
- |
| May integration costs |
- |
150 |
| Asset impairment charges |
50 |
- |
| Depreciation and amortization |
950 |
977 |
Amortization of financing costs and premium on
acquired debt |
(20) |
(24) |
| Changes in assets and liabilities: |
| Decrease in receivables |
84 |
57 |
| Increase in merchandise inventories |
(1,855) |
(1,695) |
| Increase in supplies and prepaid expenses |
(28) |
(10) |
Decrease in other assets not separately
identified |
- |
2 |
Increase in accounts payable and accrued
liabilities not separately identified |
1,320 |
948 |
| Decrease in current income taxes |
(343) |
(328) |
| Increase (decrease) in deferred income taxes |
8 |
(17) |
Increase in other liabilities not
separately identified |
20 |
18 |
Net cash provided by continuing
operating activities |
317 |
285 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(546) |
(700) |
| Capitalized software |
(104) |
(81) |
| Proceeds from hurricane insurance claims |
19 |
1 |
| Disposition of property and equipment |
25 |
96 |
| Proceeds from the disposition of After Hours Formalwear |
- |
66 |
Net cash used by continuing
investing activities |
(606) |
(618) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
770 |
2,918 |
| Financing costs |
(5) |
(18) |
| Debt repaid |
(663) |
(647) |
| Dividends paid |
(166) |
(173) |
| Increase in outstanding checks |
64 |
65 |
| Acquisition of treasury stock |
(1) |
(3,003) |
| Issuance of common stock |
7 |
256 |
Net cash provided (used) by continuing
financing activities |
6 |
(602) |
| |
| Net cash used by continuing operations |
(283) |
(935) |
| |
| 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 |
(283) |
(936) |
| Cash and cash equivalents at beginning of period |
583 |
1,211 |
| |
| Cash and cash equivalents at end of period |
$300 |
$275 |
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Historical Data:
Consolidated Financial Statements: