Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Feb. 01, 2020
USD ($)
Feb. 02, 2019
USD ($)
Feb. 03, 2018
USD ($)
Cash flows from operating activities:      
Net income $ 564 $ 1,098 $ 1,555
Adjustments to reconcile net income to net cash provided by operating activities:      
Restructuring, impairment, store closing and other costs 354 136 186
Settlement charges 58 88 105
Depreciation and amortization 981 962 991
Benefit plans 31 30 35
Stock-based compensation expense 38 63 58
Gains on sale of real estate (162) (389) (544)
Deferred income taxes (6) 112 (421)
Amortization of financing costs and premium on acquired debt 4 (15) (45)
Changes in assets and liabilities:      
(Increase) decrease in receivables (9) (61) 120
(Increase) decrease in merchandise inventories 75 (87) 221
Decrease in prepaid expenses and other current assets 89 21 17
Increase in merchandise accounts payable 40 55 162
Increase (decrease) in accounts payable and accrued liabilities (257) 14 (221)
Decrease in current income taxes (60) (136) (114)
Change in other assets and liabilities (132) (156) (129)
Net cash provided by operating activities 1,608 1,735 1,976
Cash flows from investing activities:      
Purchase of property and equipment (902) (657) (487)
Capitalized software (255) (275) (273)
Disposition of property and equipment 185 474 411
Other, net (30) 2 (2)
Net cash used by investing activities (1,002) (456) (351)
Cash flows from financing activities:      
Debt issuance costs (3) 0 0
Debt repaid (597) (1,149) (988)
Dividends paid (466) (463) (461)
Increase (decrease) in outstanding checks (62) 16 (15)
Acquisition of treasury stock (1) 0 (1)
Issuance of common stock 6 45 6
Proceeds from noncontrolling interest 0 7 13
Net cash used by financing activities (1,123) (1,544) (1,446)
Net increase (decrease) in cash, cash equivalents and restricted cash (517) (265) 179
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period 1,248 1,513 1,334
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period 731 1,248 1,513
Supplemental cash flow information:      
Interest paid 242 328 361
Interest received 20 25 12
Income taxes paid (net of refunds received) 229 345 496
Restricted cash, end of period $ 46 $ 86 $ 58