Consolidated Statements of Cash Flows - 2Q 2009 (Unaudited)
(millions)
| |
26 Weeks Ended |
| |
August 1, 2009 |
August 2, 2008 |
| Cash flows from operating activities: |
| Net income (loss) |
$(81) |
$14 |
Adjustments to reconcile net income (loss) to net cash
provided by operating activities: |
| Stock-based compensation expense |
42 |
26 |
| Division consolidation costs |
172 |
113 |
| Asset impairment charges |
- |
50 |
| Depreciation and amortization |
604 |
630 |
Amortization of financing costs and premium on
acquired debt |
(12) |
(14) |
| Changes in assets and liabilities: |
| Decrease in receivables |
40 |
109 |
| Decrease in merchandise inventories |
135 |
52 |
| Increase in supplies and prepaid expenses |
(5) |
(25) |
| Increase in other assets not separately identified |
(3) |
- |
| Increase in merchandise accounts payable |
379 |
437 |
Decrease in accounts payable and accrued
liabilities not separately identified |
(658) |
(474) |
| Decrease in current income taxes |
(51) |
(371) |
| Increase (decrease) in deferred income taxes |
(36) |
20 |
Increase (decrease) in other liabilities not
separately identified |
(90) |
25 |
| Net cash provided by operating activities |
436 |
592 |
| |
| Cash flows from investing activities: |
| Purchase of property and equipment |
(150) |
(284) |
| Capitalized software |
(41) |
(63) |
| Proceeds from hurricane insurance claims |
– |
13 |
| Disposition of property and equipment |
9 |
22 |
| Net cash used by investing activities |
(182) |
(312) |
| |
| Cash flows from financing activities: |
| Debt issued |
- |
650 |
| Financing costs |
- |
(5) |
| Debt repaid |
(958) |
(9) |
| Dividends paid |
(42) |
(110) |
| Decrease in outstanding checks |
(44) |
(101) |
| Acquisition of treasury stock |
(1) |
(1) |
| Issuance of common stock |
- |
6 |
| Net cash provided (used) by financing activities |
(1,045) |
430 |
| |
| Net incease (decrease) in cash and cash equivalents |
(791) |
710 |
| |
| Cash and cash equivalents at beginning of period |
1,306 |
583 |
| Cash and cash equivalents at end of period |
$515 |
$1,293 |
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