Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Cash flows from operating activities:      
Net income $ 611 $ 1,070 $ 1,526
Adjustments to reconcile net income to net cash provided by operating activities:      
Impairments, store closing and other costs 479 288 87
Settlement charges 98 0 0
Depreciation and amortization 1,058 1,061 1,036
Stock-based compensation expense 61 65 73
Gains on sale of real estate (209) (212) (92)
Amortization of financing costs and premium on acquired debt (14) (14) (5)
Changes in assets and liabilities:      
(Increase) decrease in receivables (1) (45) 22
(Increase) decrease in merchandise inventories 107 (60) 44
Increase in prepaid expenses and other current assets (8) 0 (3)
Increase in other assets not separately identified 0 (1) (61)
Increase (decrease) in merchandise accounts payable (132) (78) (21)
Increase (decrease) in accounts payable, accrued liabilities and other items not separately identified (162) 68 129
Increase (decrease) in current income taxes 125 (69) (65)
Increase (decrease) in deferred income taxes (139) (1) 29
Increase (decrease) in other liabilities not separately identified (73) (88) 10
Net cash provided by operating activities 1,801 1,984 2,709
Cash flows from investing activities:      
Purchase of property and equipment (596) (777) (770)
Capitalized software (316) (336) (298)
Acquisition of Bluemercury, Inc., net of cash acquired 0 (212) 0
Disposition of property and equipment 673 204 172
Other, net 52 29 (74)
Net cash used by investing activities (187) (1,092) (970)
Cash flows from financing activities:      
Proceeds from Issuance of Commercial Paper 2 499 1,044
Financing costs (3) (4) (9)
Debt repaid (751) (152) (870)
Dividends paid (459) (456) (421)
Increase (decrease) in outstanding checks 61 (83) 133
Acquisition of treasury stock (316) (2,001) (1,901)
Issuance of common stock 36 163 258
Proceeds from noncontrolling interest 4 5 0
Net cash used by financing activities (1,426) (2,029) (1,766)
Net increase (decrease) in cash and cash equivalents 188 (1,137) (27)
Cash and cash equivalents beginning of period 1,109 2,246 2,273
Cash and cash equivalents end of period 1,297 1,109 2,246
Supplemental cash flow information:      
Interest paid 396 383 413
Interest received 4 2 2
Income taxes paid (net of refunds received) $ 352 $ 635 $ 834