|
Consolidated Statements of Cash Flows - 1Q 2009 (Unaudited)
(millions)
| |
13 Weeks Ended |
| |
May 2, 2009 |
May 3, 2008 |
| Cash flows from operating activities: |
| Net loss |
$(88) |
$(59) |
Adjustments to reconcile net loss to net cash
provided (used) by operating activities: |
| Stock-based compensation expense |
27 |
21 |
| Division consolidation costs |
138 |
87 |
| Depreciation and amortization |
303 |
315 |
Amortization of financing costs and premium on
acquired debt |
(6) |
(7) |
| Changes in assets and liabilities: |
| Decrease in receivables |
62 |
78 |
| Increase in merchandise inventories |
(257) |
(224) |
| Increase in supplies and prepaid expenses |
(27) |
(31) |
| Increase in other assets not separately identified |
(3) |
- |
| Increase in merchandise accounts payable |
516 |
586 |
Decrease in accounts payable and accrued
liabilities not separately identified |
(479) |
(353) |
| Decrease in current income taxes |
(234) |
(408) |
| Increase in deferred income taxes |
43 |
22 |
Decrease in other liabilities not
separately identified |
(30) |
(6) |
| Net cash provided (used) by operating activities |
(35) |
21 |
| |
| Cash flows from investing activities: |
| Purchase of property and equipment |
(57) |
(81) |
| Capitalized software |
(18) |
(27) |
| Disposition of property and equipment |
7 |
9 |
| Net cash used by investing activities |
(68) |
(99) |
| |
| Cash flows from financing activities: |
| Debt issued |
- |
- |
| Financing costs |
- |
- |
| Debt repaid |
(837) |
(6) |
| Dividends paid |
(21) |
(55) |
| Decrease in outstanding checks |
(50) |
(83) |
| Acquisition of treasury stock |
- |
- |
| Issuance of common stock |
- |
5 |
| Net cash used by financing activities |
(908) |
(139) |
| |
| Net decrease in cash and cash equivalents |
(1,011) |
(217) |
| |
| Cash and cash equivalents at beginning of period |
1,306 |
583 |
| Cash and cash equivalents at end of period |
$295 |
$366 |
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Consolidated Financial Statements:
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