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
Jan. 28, 2012
Jan. 29, 2011
Jan. 30, 2010
Cash flows from operating activities:      
Net income (loss) $ 1,256 $ 847 $ 329
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Gain on sale of properties, impairments, store closing costs and division consolidation costs (25) 25 391
Depreciation and amortization 1,085 1,150 1,210
Stock-based compensation expense 70 66 76
Amortization of financing costs and premium on acquired debt (15) (25) (23)
Changes in assets and liabilities:      
(Increase) decrease in receivables (37) (51) 7
(Increase) decrease in merchandise inventories (359) (143) 154
(Increase) decrease in prepaid expenses and other current assets (99) (10) 3
(Increase) decrease in other assets not separately identified 8 2 (16)
Increase in merchandise accounts payable 143 91 29
Increase (decrease) in accounts payable and accrued liabilities not separately identified 109 (45) (201)
Increase in current income taxes 188 115 40
Increase in deferred income taxes 153 241 123
Decrease in other liabilities not separately identified (384) (757) (372)
Net cash provided by operating activities 2,093 1,506 1,750
Cash flows from investing activities:      
Purchase of property and equipment (555) (339) (355)
Capitalized software (209) (166) (105)
Disposition of property and equipment 114 74 60
Proceeds from property insurance claims 6 6 26
Other, net 27 (40) (3)
Net cash used by investing activities (617) (465) (377)
Cash flows from financing activities:      
Debt issued 800 0 0
Financing costs (20) 0 0
Debt repaid (454) (1,245) (966)
Dividends paid (148) (84) (84)
Increase (decrease) in outstanding checks 49 24 (29)
Acquisition of treasury stock (502) (1) (1)
Issuance of common stock 162 43 8
Net cash used by financing activities (113) (1,263) (1,072)
Net increase (decrease) in cash and cash equivalents 1,363 (222) 301
Cash and cash equivalents beginning of period 1,464 1,686 1,385
Cash and cash equivalents end of period 2,827 1,464 1,686
Supplemental cash flow information:      
Interest paid 474 627 601
Interest received 4 5 9
Income taxes paid (net of refunds received) $ 401 $ 108 $ 35