Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
May 01, 2021
May 02, 2020
Cash flows from operating activities:    
Net income (loss) $ 103 $ (3,581)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Impairment, restructuring and other costs 19 3,184
Depreciation and amortization 224 237
Stock-based compensation expense 11 6
Gains on sale of real estate (6) (16)
Benefit plans 10 12
Amortization of financing costs and premium on acquired debt 8 0
Deferred income taxes (43) (225)
Changes in assets and liabilities:    
Decrease in receivables 71 236
(Increase) decrease in merchandise inventories (457) 265
(Increase) decrease in prepaid expenses and other current assets (56) 12
Increase in merchandise accounts payable 674 629
Decrease in accounts payable and accrued liabilities (114) (531)
(Increase) decrease in current income taxes 75 (353)
Change in other assets, liabilities, and other items not separately identified (25) (39)
Net cash provided (used) by operating activities 494 (164)
Cash flows from investing activities:    
Purchase of property and equipment (61) (122)
Capitalized software (38) (38)
Disposition of property and equipment 8 21
Other, net 17 26
Net cash used by investing activities (74) (113)
Cash flows from financing activities:    
Debt issued 500 1,500
Debt issuance costs (9) 0
Debt repurchase premium and expenses (12) 0
Debt repaid (503) (4)
Dividends paid 0 (117)
Decrease in outstanding checks (276) (231)
Net cash provided (used) by financing activities (300) 1,148
Net increase in cash, cash equivalents and restricted cash 120 871
Cash, cash equivalents and restricted cash beginning of period 1,754 731
Cash, cash equivalents and restricted cash end of period 1,874 1,602
Supplemental cash flow information:    
Interest paid 52 38
Interest received 0 3
Income taxes paid (net of refunds received) $ 5 $ 2