Consolidated Statements of Cash Flows - 2Q 2008 (Unaudited)
(millions)
| |
26 Weeks Ended |
26 Weeks Ended |
| |
August 2, 2008 |
August 4, 2007 |
| Cash flows from continuing operating activities: |
| Net income |
$14 |
$110 |
Adjustments to reconcile net income to net cash
provided by continuing operating activities: |
| Loss from discontinued operations |
- |
16 |
| Stock-based compensation expense |
26 |
32 |
| Division consolidation costs |
113 |
- |
| May integration costs |
- |
133 |
| Asset impairment charges |
50 |
- |
| Depreciation and amortization |
630 |
656 |
Amortization of financing costs and premium on
acquired debt |
(14) |
(17) |
| Changes in assets and liabilities: |
| Decrease in receivables |
109 |
26 |
| Decrease in merchandise inventories |
52 |
117 |
| Increase in supplies and prepaid expenses |
(25) |
(16) |
Decrease in other assets not separately
identified |
- |
13 |
Decrease in accounts payable and accrued
liabilities not separately identified |
(37) |
(310) |
| Decrease in current income taxes |
(371) |
(299) |
| Increase (decrease) in deferred income taxes |
20 |
(89) |
Increase in other liabilities not
separately identified |
25 |
40 |
Net cash provided by continuing
operating activities |
592 |
412 |
| |
| Cash flows from continuing investing activities: |
| Purchase of property and equipment |
(284) |
(403) |
| Capitalized software |
(63) |
(50) |
| Proceeds from hurricane insurance claims |
13 |
1 |
| Disposition of property and equipment |
22 |
71 |
| Proceeds from the disposition of After Hours Formalwear |
- |
66 |
Net cash used by continuing
investing activities |
(312) |
(315) |
| |
| Cash flows from continuing financing activities: |
| Debt issued |
650 |
2,253 |
| Financing costs |
(5) |
(15) |
| Debt repaid |
(9) |
(416) |
| Dividends paid |
(110) |
(117) |
| Decrease in outstanding checks |
(101) |
(97) |
| Acquisition of treasury stock |
(1) |
(2,919) |
| Issuance of common stock |
6 |
253 |
Net cash provided (used) by continuing
financing activities |
430 |
(1,058) |
| |
| Net cash provided (used) by continuing operations |
710 |
(961) |
| |
| Net cash provided by discontinued operating activities |
- |
7 |
| Net cash used by discontinued investing activities |
- |
(7) |
| Net cash used by discontinued financing activities |
- |
(1) |
| Net cash used by discontinued operations |
- |
(1) |
| |
| Net increase (decrease) in cash and cash equivalents |
710 |
(962) |
| Cash and cash equivalents at beginning of period |
583 |
1,211 |
| |
| Cash and cash equivalents at end of period |
$1,293 |
$249 |
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Historical Data:
Consolidated Financial Statements: