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Consolidated Statements of Cash Flows - 3Q 2009 (Unaudited)
(millions)
| |
39 Weeks Ended
October 31, 2009 |
39 Weeks Ended
November 1, 2008 |
| Cash flows from operating activities: |
| Net loss |
$(116) |
$(30) |
Adjustments to reconcile net loss to net cash
provided by operating activities: |
| Division consolidation costs |
205 |
129 |
| Asset impairment charges |
– |
50 |
| Depreciation and amortization |
905 |
950 |
| Stock-based compensation expense |
65 |
32 |
Amortization of financing costs and premium on
acquired debt |
(17) |
(20) |
| Changes in assets and liabilities: |
| Decrease in receivables |
68 |
84 |
| Increase in merchandise inventories |
(1,637) |
(1,855) |
| (Increase) decrease in supplies and prepaid expenses |
10 |
(28) |
| Increase in other assets not separately identified |
(14) |
– |
| Increase in merchandise accounts payable |
1,691 |
1,633 |
Decrease in accounts payable and accrued
liabilities not separately identified |
(461) |
(313) |
| Decrease in current income taxes |
(56) |
(343) |
| Increase (decrease) in deferred income taxes |
(90) |
8 |
Increase (decrease) in other liabilities not
separately identified |
(169) |
20 |
| Net cash provided by operating activities |
384 |
317 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(238) |
(546) |
| Capitalized software |
(64) |
(104) |
| Proceeds from hurricane insurance claims |
17 |
19 |
| Disposition of property and equipment |
10 |
25 |
| Net cash used by investing activities |
(275) |
(606) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
– |
770 |
| Financing costs |
– |
(5) |
| Debt repaid |
(964) |
(663) |
| Dividends paid |
(63) |
(166) |
| Increase in outstanding checks |
94 |
64 |
| Acquisition of treasury stock |
(1) |
(1) |
| Issuance of common stock |
8 |
7 |
| Net cash provided (used) by continuing financing activities |
(926) |
6 |
| |
| Net decrease in cash and cash equivalents |
(817) |
(283) |
| Cash and cash equivalents at beginning of period |
1,306 |
583 |
| |
| Cash and cash equivalents at end of period |
$489 |
$300 |
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