Consolidated Statements of Cash Flows - 4Q 2008 (Unaudited)
(millions)
| |
52 Weeks Ended |
52 Weeks Ended |
| |
January 31, 2009 |
February 2, 2008 |
| Cash flows from continuing operating activities: |
| Net income |
$280 |
$893 |
Adjustments to reconcile net income to net cash
provided by continuing operating activities: |
| Loss from discontinued operations |
– |
16 |
| Stock-based compensation expense |
43 |
60 |
| Division consolidation costs |
187 |
– |
| Asset impairment charges |
211 |
– |
| May integration costs |
– |
219 |
| Depreciation and amortization |
1,278 |
1,304 |
Amortization of financing costs and premium on
acquired debt |
(27) |
(31) |
| Changes in assets and liabilities: |
| Decrease in receivables |
12 |
28 |
| Decrease in merchandise inventories |
291 |
256 |
| (Increase) decrease in supplies and prepaid expenses |
(7) |
33 |
Decrease in other assets not separately
identified |
1 |
3 |
| Decrease in merchandise accounts payable |
(90) |
(132) |
Decrease in accounts payable and accrued
liabilities not separately identified |
(227) |
(396) |
| Increase (decrease) in current income taxes |
(146) |
14 |
| Increase (decrease) in deferred income taxes |
8 |
(2) |
Increase (decrease) in other liabilities not
separately identified |
65 |
(34) |
| Net cash provided by continuing operating activities |
1,879 |
2,231 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(761) |
(994) |
| Capitalized software |
(136) |
(111) |
| Proceeds from hurricane insurance claims |
68 |
23 |
| Disposition of property and equipment |
38 |
227 |
| Proceeds from the disposition of After Hours Formalwear |
– |
66 |
Net cash used by
continuing investing activities |
(791) |
(789) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
650 |
1,950 |
| Financing costs |
(18) |
(18) |
| Debt repaid |
(666) |
(649) |
| Dividends paid |
(221) |
(230) |
| Decrease in outstanding checks |
(116) |
(57) |
| Acquisition of treasury stock |
(1) |
(3,322) |
| Issuance of common stock |
7 |
257 |
Net cash used by continuing
financing activities |
(365) |
(2,069) |
| |
| Net cash provided (used) by continuing operations |
723 |
(627) |
| |
| 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 increase (decrease) in cash and cash equivalents |
723 |
(628) |
| Cash and cash equivalents at beginning of period |
583 |
1,211 |
| |
| Cash and cash equivalents at end of period |
$1,306 |
$583 |
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Historical Data:
Consolidated Financial Statements: