|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
|
12 Months Ended |
|
Jan. 28, 2012
|
Jan. 29, 2011
|
Jan. 30, 2010
|
| Cash flows from operating activities: |
|
|
|
| Net (loss)/income |
$ (152) |
$ 389 |
$ 251 |
| (Income) from discontinued operations |
|
(11) |
(2) |
| Adjustments to reconcile net (loss)/income to net cash (used in) operating activities: |
|
|
|
| Restructuring and management transition |
314 |
24 |
|
| Asset impairments and other charges |
67 |
8 |
48 |
| Depreciation and amortization |
518 |
511 |
495 |
| Net (gains) on sale of assets |
(6) |
(8) |
(2) |
| Benefit plans expense |
55 |
197 |
276 |
| Pension contribution |
|
(392) |
|
| Stock-based compensation |
46 |
53 |
40 |
| Excess tax benefits from stock-based compensation |
(10) |
(2) |
|
| Deferred taxes |
(153) |
126 |
76 |
| Change in cash from: |
|
|
|
| Inventory |
297 |
(189) |
235 |
| Prepaid expenses and other assets |
(67) |
27 |
36 |
| Merchandise accounts payable |
(111) |
(93) |
32 |
| Current income taxes payable |
(15) |
33 |
(54) |
| Accrued expenses and other |
37 |
(81) |
142 |
| Net cash provided by operating activities |
820 |
592 |
1,573 |
| Cash flows from investing activities: |
|
|
|
| Capital expenditures |
(634) |
(499) |
(600) |
| Proceeds from sale of assets |
15 |
14 |
13 |
| Proceeds from joint venture cash distribution |
53 |
|
|
| Acquisition |
(268) |
|
|
| Cost investment, net |
(36) |
|
|
| Net cash (used in) investing activities |
(870) |
(485) |
(587) |
| Cash flows from financing activities: |
|
|
|
| Proceeds from issuance of long-term debt |
|
392 |
|
| Payments of long-term debt |
|
(693) |
(113) |
| Financing costs |
(20) |
(14) |
(32) |
| Dividends paid, common |
(178) |
(189) |
(183) |
| Proceeds from issuance of stock warrant |
50 |
|
|
| Stock repurchase program |
(900) |
|
|
| Proceeds from stock options exercised |
18 |
8 |
4 |
| Excess tax benefits from stock-based compensation |
10 |
2 |
|
| Tax withholding payments reimbursed by restricted stock |
(45) |
(2) |
(3) |
| Net cash (used in) financing activities |
(1,065) |
(496) |
(327) |
| Net (decrease)/increase in cash and cash equivalents |
(1,115) |
(389) |
659 |
| Cash and cash equivalents at beginning of year |
2,622 |
3,011 |
2,352 |
| Cash and cash equivalents at end of year |
1,507 |
2,622 |
3,011 |
| Supplemental cash flow information: |
|
|
|
| Income taxes paid |
91 |
50 |
130 |
| Interest paid |
227 |
258 |
264 |
| Interest received |
2 |
5 |
5 |
| Significant non-cash transactions: |
|
|
|
| Pension contribution of Company common stock |
|
|
$ 340 |