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, unless otherwise specified
12 Months Ended
Feb. 02, 2013
Jan. 28, 2012
Jan. 29, 2011
Cash flows from operating activities:      
Net income $ 1,335 $ 1,256 $ 847
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Impairments, store closing costs and gain on sale of leases 5 (25) 25
Depreciation and amortization 1,049 1,085 1,150
Stock-based compensation expense 61 70 66
Amortization of financing costs and premium on acquired debt (16) (15) (25)
Changes in assets and liabilities:      
(Increase) decrease in receivables 7 (37) (51)
(Increase) decrease in merchandise inventories (191) (359) (143)
(Increase) decrease in prepaid expenses and other current assets 75 (99) (10)
(Increase) decrease in other assets not separately identified 23 8 2
Increase in merchandise accounts payable 23 143 91
Increase (decrease) in accounts payable and accrued liabilities not separately identified (33) 109 (45)
Increase in current income taxes (16) 188 115
Increase in deferred income taxes 14 153 241
Decrease in other liabilities not separately identified (75) (384) (757)
Net cash provided by operating activities 2,261 2,093 1,506
Cash flows from investing activities:      
Purchase of property and equipment (698) (555) (339)
Capitalized software (244) (209) (166)
Disposition of property and equipment 66 114 74
Proceeds from property insurance claims 0 6 6
Other, net 13 27 (40)
Net cash used by investing activities (863) (617) (465)
Cash flows from financing activities:      
Debt issued 1,000 800 0
Financing costs (11) (20) 0
Debt repaid (1,803) (454) (1,245)
Dividends paid (324) (148) (84)
Increase (decrease) in outstanding checks (88) 49 24
Acquisition of treasury stock (1,397) (502) (1)
Issuance of common stock 234 162 43
Net cash used by financing activities (2,389) (113) (1,263)
Net increase (decrease) in cash and cash equivalents (991) 1,363 (222)
Cash and cash equivalents beginning of period 2,827 1,464 1,686
Cash and cash equivalents end of period 1,836 2,827 1,464
Supplemental cash flow information:      
Interest paid 585 474 627
Interest received 2 4 5
Income taxes paid (net of refunds received) $ 738 $ 401 $ 108