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Consolidated Statements of Cash Flows - 4Q 2004 (Unaudited)
(millions)
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52 Weeks Ended
January 29, 2005 |
52 Weeks Ended
January 31, 2004 |
| Cash flows from operating activities: |
| Net income |
$689 |
$693 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
| Depreciation and amortization |
734 |
706 |
| Amortization of financing costs |
6 |
3 |
| Amortization of unearned restricted stock |
3 |
4 |
| Changes in assets and liabilities: |
(Increase) decrease in proprietary and other accounts receivable
not separately identified |
17 |
(71) |
| Decrease in merchandise inventories |
95 |
143 |
| (Increase) decrease in supplies and prepaid expenses |
(5) |
25 |
| (Increase) decrease in other assets not separately identified |
(1) |
2 |
Increase (decrease) in accounts payable and accrued liabilities
not separately identified |
(24) |
60 |
| Increase (decrease) in current income taxes |
(6) |
284 |
| Increase in deferred income taxes |
59 |
3 |
| Decrease in other liabilities not separately identified |
(60) |
(76) |
| Net cash provided by operating activities |
1,507 |
1,776 |
| |
| Cash flows from investing activities: |
| Purchase of property and equipment |
(467) |
(508) |
| Capitalized software |
(81) |
(60) |
| Increase in non-proprietary accounts receivable |
(236) |
(186) |
| Collection of notes receivable |
30 |
- |
| Disposition of property and equipment |
27 |
6 |
| Net cash used by investing activities |
(727) |
(748) |
| |
| Cash flows from financing activities: |
| Debt issued |
186 |
164 |
| Debt repaid |
(365) |
(457) |
| Dividends paid |
(93) |
(69) |
| Increase (decrease) in outstanding checks |
38 |
(5) |
| Acquisition of treasury stock |
(901) |
(645) |
| Issuance of common stock |
298 |
193 |
| Net cash used by financing activities |
(837) |
(819) |
| |
| Net increase (decrease) in cash |
(57) |
209 |
| Cash at beginning of period |
925 |
716 |
| |
| Cash at end of period |
$868 |
$925 |
Note - Certain reclassifications were made to prior year's amounts to reflect increases in non-proprietary accounts receivable as cash used by investing activities instead of operating activities to conform with the classifications of such amounts for the most recent year.
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Consolidated Financial Statements:
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