Consolidated Statements of Cash Flows - 3Q 2006 (Unaudited)
(millions)
| |
39 Weeks Ended |
| |
October 28, 2006 |
October 29, 2005 |
| Cash flows from continuing operating activities: |
| Net income |
$262 |
$707 |
Adjustments to reconcile net income to net cash
provided by continuing operating activities: |
| Income from discontinued operations |
(34) |
(12) |
| Gains on the sale of accounts receivable |
(191) |
(480) |
| Stock-based compensation |
73 |
7 |
| May integration costs |
451 |
63 |
| Depreciation and amortization |
945 |
639 |
Amortization of financing costs and
premium on acquired debt |
(48) |
(7) |
| Changes in assets and liabilities: |
Proceeds from the sale of proprietary accounts
Receivable |
1,860 |
2,195 |
Decrease in proprietary and other accounts
receivable not separately identified |
235 |
153 |
| Increase in merchandise inventories |
(1,757) |
(1,389) |
| (Increase) decrease in supplies and prepaid expenses |
(58) |
119 |
| Decrease in other assets not separately identified |
18 |
24 |
Increase in accounts payable and accrued
liabilities not separately identified |
560 |
661 |
| Decrease in current income taxes |
(305) |
(263) |
| Decrease in deferred income taxes |
(36) |
(34) |
| Decrease in other liabilities not separately identified |
(4) |
(67) |
| Net cash provided by continuing operating activities |
1,971 |
2,316 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(804) |
(321) |
| Capitalized software |
(61) |
(59) |
| Proceeds from the the disposition of discontinued operations |
1,047 |
- |
| Repurchase of accounts receivable |
(1,141) |
- |
| Proceeds from the sale of repurchased accounts receivable |
1,323 |
- |
| Proceeds from hurricane insurance claims |
7 |
- |
| Proceeds from the sale of non-proprietary accounts receivable |
- |
1,388 |
Acquisition of The May Department Stores Company,
net of cash acquired |
- |
(5,339) |
| Increase in non-proprietary accounts receivable |
- |
(131) |
| Disposition of property and equipment |
494 |
16 |
Net cash provided (used) by
continuing investing activities |
865 |
(4,446) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
46 |
4,580 |
| Financing costs |
(1) |
(2) |
| Debt repaid |
(1,521) |
(3,338) |
| Dividends paid |
(208) |
(89) |
| Increase in outstanding checks |
105 |
90 |
| Acquisition of treasury stock |
(1,118) |
(7) |
| Issuance of common stock |
352 |
250 |
| Net cash provided (used) by continuing financing activities |
(2,345) |
1,484 |
| |
| Net cash provided (used) by continuing operations |
491 |
(646) |
| Net cash provided by discontinued operating activities |
79 |
10 |
| Net cash used by discontinued investing activities |
(78) |
(7) |
| Net cash provided by discontinued financing activities |
31 |
44 |
| Net cash provided by discontinued operations |
32 |
47 |
| |
| Net increase (decrease) in cash and cash equivalents |
523 |
(599) |
| Cash and cash equivalents at beginning of period |
248 |
868 |
| |
| Cash and cash equivalents at end of period |
$771 |
$269 |
Notes:
(1) Certain reclassifications were made to prior period amounts to conform with the classifications of such amounts for the most recent period.
(2) Stock-based compensation consists of compensation expense for restricted stock grants, stock credit plans and stock options.
Download Excel spreadsheet
Go to top of page
Historical Data:
Consolidated Financial Statements: