Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.21.1
Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Jan. 30, 2021
USD ($)
Feb. 01, 2020
USD ($)
Feb. 02, 2019
USD ($)
Cash flows from operating activities:      
Net income (loss) $ (3,944) $ 564 $ 1,098
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Restructuring, impairment, store closing and other costs 3,579 354 136
Settlement charges 84 58 88
Depreciation and amortization 959 981 962
Benefit plans 47 31 30
Stock-based compensation expense 31 38 63
Gains on sale of real estate (60) (162) (389)
Deferred income taxes (327) (6) 112
Amortization of financing costs and premium on acquired debt 18 4 (15)
Changes in assets and liabilities:      
(Increase) decrease in receivables 132 (9) (61)
(Increase) decrease in merchandise inventories 1,406 75 (87)
Decrease in prepaid expenses and other current assets 51 89 21
Increase in merchandise accounts payable 237 40 55
Increase (decrease) in accounts payable and accrued liabilities (759) (257) 14
Decrease in current income taxes (617) (60) (136)
Change in other assets and liabilities (188) (132) (156)
Net cash provided by operating activities 649 1,608 1,735
Cash flows from investing activities:      
Purchase of property and equipment (338) (902) (657)
Capitalized software (128) (255) (275)
Disposition of property and equipment 113 185 474
Other, net 28 (30) 2
Net cash used by investing activities (325) (1,002) (456)
Cash flows from financing activities:      
Debt issued 2,780 0 0
Debt issuance costs (95) (3) 0
Debt repaid (2,049) (597) (1,149)
Dividends paid (117) (466) (463)
Increase (decrease) in outstanding checks 181 (62) 16
Acquisition of treasury stock (1) (1) 0
Issuance of common stock 0 6 45
Proceeds from noncontrolling interest 0 0 7
Net cash provided (used) by financing activities 699 (1,123) (1,544)
Net increase (decrease) in cash, cash equivalents and restricted cash 1,023 (517) (265)
Cash, cash equivalents and restricted cash beginning of period 731 1,248 1,513
Cash, cash equivalents and restricted cash end of period 1,754 731 1,248
Supplemental cash flow information:      
Interest paid 257 242 328
Interest received 5 20 25
Income taxes paid (net of refunds received) 98 229 345
Restricted cash, end of period $ 75 $ 46 $ 86