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
6 Months Ended
Jul. 31, 2021
Aug. 01, 2020
Cash flows from operating activities:    
Net income (loss) $ 448 $ (4,012)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:    
Impairment, restructuring and other costs 21 3,426
Settlement charges 81 38
Depreciation and amortization 444 472
Stock-based compensation expense 22 13
Gains on sale of real estate (12) (16)
Benefit plans 19 23
Amortization of financing costs and premium on acquired debt 14 4
Deferred income taxes (36) (265)
Changes in assets and liabilities:    
Decrease in receivables 55 222
(Increase) decrease in merchandise inventories (525) 1,598
(Increase) decrease in prepaid expenses and other current assets (41) 31
Increase (decrease) in merchandise accounts payable 647 (188)
Decrease in accounts payable and accrued liabilities (78) (605)
Increase (decrease) in current income taxes 12 (695)
Change in other assets, liabilities, and other items not separately identified (106) (53)
Net cash provided (used) by operating activities 965 (7)
Cash flows from investing activities:    
Purchase of property and equipment (142) (228)
Capitalized software (88) (61)
Disposition of property and equipment 34 31
Other, net 52 (14)
Net cash used by investing activities (144) (272)
Cash flows from financing activities:    
Debt issued 500 2,780
Debt issuance costs (9) (98)
Debt repurchase premium and expenses (15) 0
Debt repaid (518) (1,504)
Dividends paid 0 (117)
Decrease in outstanding checks (318) (111)
Net cash provided (used) by financing activities (360) 950
Net increase in cash, cash equivalents and restricted cash 461 671
Cash, cash equivalents and restricted cash beginning of period 1,754 731
Cash, cash equivalents and restricted cash end of period 2,215 1,402
Supplemental cash flow information:    
Interest paid 152 104
Interest received 0 4
Income taxes paid (net of refunds received) $ 166 $ 86