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Consolidated Statements of Cash Flows - 1Q 2005 (Unaudited)
(millions)
| |
13 Weeks Ended |
| |
April 30, 2005 |
May 1, 2004 |
| Cash flows from operating activities: |
| Net income |
$123 |
$97 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
| Depreciation and amortization |
177 |
176 |
| Amortization of financing costs |
1 |
1 |
| Amortization of unearned restricted stock |
1 |
1 |
| Changes in assets and liabilities: |
Decrease in proprietary and other accounts receivable
not separately identified |
121 |
152 |
| Increase in merchandise inventories |
(294) |
(282) |
| Increase in supplies and prepaid expenses |
(21) |
(22) |
| Decrease in other assets not separately identified |
7 |
- |
Increase in accounts payable and accrued liabilities
not separately identified |
89 |
128 |
| Decrease in current income taxes |
(97) |
(209) |
| Increase (decrease) in deferred income taxes |
(56) |
29 |
| Increase in other liabilities not separately identified |
5 |
2 |
| Net cash provided by operating activities |
56 |
73 |
| |
| Cash flows from investing activities: |
| Purchase of property and equipment |
(36) |
(72) |
| Capitalized software |
(16) |
(17) |
| Increase in non-proprietary accounts receivable |
(16) |
(39) |
| Collection of notes receivable |
- |
17 |
| Disposition of property and equipment |
7 |
1 |
| Net cash used by investing activities |
(61) |
(110) |
| |
| Cash flows from financing activities: |
| Debt issued |
- |
9 |
| Debt repaid |
(18) |
(2) |
| Dividends paid |
(23) |
(22) |
| Increase (decrease) in outstanding checks |
(8) |
9 |
| Acquisition of treasury stock |
(1) |
(90) |
| Issuance of common stock |
105 |
121 |
| Net cash used by financing activities |
55 |
25 |
| |
| Net increase (decrease) in cash and cash equivalents |
50 |
(12) |
| Cash and cash equivalents at beginning of period |
868 |
925 |
| |
| Cash and cash equivalents at end of period |
$918 |
$913 |
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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