Consolidated Statements of Cash Flows - 4Q 2005 (Unaudited)
(millions)
| |
52 Weeks Ended |
| |
January 28, 2006 |
January 29, 2005 |
| Cash flows from continuing operating activities: |
| Net income |
$1,406 |
$689 |
| Adjustments to reconcile net income to net cash provided by continuing operating activities: |
| Income from discontinued operations |
(33) |
- |
| Gain on the sale of accounts receivable |
(480) |
– |
| May integration costs |
194 |
- |
| Depreciation and amortization |
943 |
734 |
| Amortization of financing costs |
(20) |
6 |
| Amortization of intangible assets |
33 |
– |
| Amortization of unearned restricted stock |
2 |
3 |
| Changes in assets and liabilities: |
(Increase) decrease in proprietary and other accounts
receivable not separately identified |
(147) |
17 |
| Decrease in merchandise inventories |
495 |
95 |
| (Increase) decrease in supplies and prepaid expenses |
122 |
(5) |
| Increase in other assets not separately identified |
(2) |
(1) |
Decrease in accounts payable and accrued liabilities
not separately identified |
(444) |
(24) |
| (Increase) decrease in current income taxes |
49 |
(6) |
| Increase (decrease) in deferred income taxes |
(36) |
59 |
| Decrease in other liabilities not separately identified |
(132) |
(60) |
| Net cash provided by continuing operating activities |
1,950 |
1,507 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(568) |
(467) |
| Capitalized software |
(88) |
(81) |
| Increase in non-proprietary accounts receivable |
(131) |
(236) |
| Acquisition of The May Department Stores Company, net of cash acquired |
(5,321) |
-– |
| Proceeds from sale of accounts receivable |
3,583 |
– |
| Collection of notes receivable |
– |
30 |
| Disposition of property and equipment |
19 |
27 |
| Net cash used by continuing investing activities |
(2,506) |
(727) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
4,580 |
186 |
| Financing costs |
(2) |
– |
| Debt repaid |
(4,755) |
(365) |
| Dividends paid |
(157) |
(93) |
| Increase (decrease) in outstanding checks |
(53) |
38 |
| Acquisition of treasury stock |
(7) |
(901) |
| Issuance of common stock |
336 |
298 |
| Net cash used by continuing financing activities |
(58) |
(837) |
| |
| Net cash used by continuing operations |
(614) |
(57) |
| Net cash provided by discontinued operating activities |
63 |
– |
| Net cash used by discontinued investing activities |
(61) |
– |
| Net cash used by discontinued financing activities |
(8) |
– |
| Net cash used by discontinued operations |
(6) |
– |
| |
| Net decrease in cash and cash equivalents |
(620) |
(57) |
| Cash and cash equivalents at beginning of period |
868 |
925 |
| |
| Cash and cash equivalents at end of period |
$248 |
$868 |
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Historical Data:
Consolidated Financial Statements: