Condensed Consolidated
Statements of Cash Flows
(Dollars in millions)
|
 |
| |
2008 |
|
2007 |
|
|
| Cash flows from continuing operating activities: |
|
|
|
|
|
| Income (loss) from continuing operations |
$ (4,803 |
) |
$ 893 |
|
|
| Depreciation and amortization |
1,278 |
|
1,304 |
|
|
| Division consolidation costs |
187 |
|
- |
|
|
| Asset impairment charges |
211 |
|
- |
|
|
| Goodwill impairment charges |
5,382 |
|
- |
|
|
| May integration costs |
- |
|
219 |
|
|
| Decrease in working capital and other, net |
(376 |
) |
(201 |
) |
|
| Net cash provided by continuing operating activities |
1,879 |
|
2,231 |
|
|
|
|
| Cash flows from continuing investing activities: |
|
|
|
|
|
Capital expenditures for property and equipment
and capitalized software |
(897 |
) |
(1,105 |
) |
|
| Disposition of property and equipment |
38 |
|
227 |
|
|
| Proceeds from the disposition of After Hours Formalwear |
- |
|
66 |
|
|
| Other, net |
68 |
|
23 |
|
|
| Net cash used by continuing investing activities |
(791 |
) |
(789 |
) |
|
|
|
| Cash flows from continuing financing activities: |
|
|
|
|
|
| Debt issued |
650 |
|
1,950 |
|
|
| Debt repaid |
(666 |
) |
(649 |
) |
|
| Dividends paid |
(221 |
) |
(230 |
) |
|
| Acquisition of treasury stock |
(1 |
) |
(3,322 |
) |
|
| Issuance of common stock |
7 |
|
257 |
|
|
| Other, net |
(134 |
) |
(75 |
) |
|
| Net cash used by continuing financing activities |
(365 |
) |
(2,069 |
) |
|
|
| Net cash provided (used) by continuing operations |
723 |
|
(627 |
) |
|
| Net cash provided (used) by discontinued operations |
- |
|
(1 |
) |
|
| Net increase (decrease) in cash and cash equivalents |
723 |
|
(628 |
) |
|
| Cash and cash equivalents at beginning of period |
583 |
|
1,211 |
|
|
| Cash and cash equivalents at end of period |
$ 1,306 |
|
$ 583 |
|