|
CONSOLIDATED STATEMENTS of CASH FLOWS (Unaudited) (USD $)
In Millions
|
6 Months Ended |
|
Jul. 30, 2011
|
Jul. 31, 2010
|
| Cash flows from operating activities: |
 |
 |
| Net income |
$ 78 |
$ 74 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: |
 |
 |
| Restructuring and other charges |
24 |
4 |
| Depreciation and amortization |
256 |
251 |
| Benefit plans expense |
28 |
97 |
| Voluntary pension contribution |
 |
(392) |
| Stock-based compensation |
26 |
26 |
| Excess tax benefits from stock-based compensation |
(4) |
(1) |
| Deferred taxes |
(36) |
117 |
| Change in cash from: |
 |
 |
| Inventory |
(359) |
(466) |
| Prepaid expenses and other assets |
3 |
21 |
| Merchandise accounts payable |
253 |
184 |
| Current income taxes payable |
5 |
(127) |
| Accrued expenses and other |
(102) |
(167) |
| Net cash provided by/(used in) operating activities |
172 |
(379) |
| Cash flows from investing activities: |
 |
 |
| Capital expenditures |
(295) |
(229) |
| Proceeds from sale of assets |
 |
4 |
| Net cash (used in) investing activities |
(295) |
(225) |
| Cash flows from financing activities: |
 |
 |
| Proceeds from issuance of long-term debt |
 |
392 |
| Payments of long-term debt |
 |
(693) |
| Financing costs |
(15) |
(14) |
| Dividends paid, common |
(92) |
(94) |
| Proceeds from issuance of stock warrant |
50 |
 |
| Stock repurchase program |
(900) |
 |
| Proceeds from stock options exercised |
11 |
5 |
| Excess tax benefits from stock-based compensation |
4 |
1 |
| Tax withholding payments reimbursed by restricted stock |
(6) |
(1) |
| Net cash (used in) financing activities |
(948) |
(404) |
| Net (decrease) in cash and cash equivalents |
(1,071) |
(1,008) |
| Cash and cash equivalents at beginning of year |
2,622 |
3,011 |
| Cash and cash equivalents at end of period |
1,551 |
2,003 |
| Supplemental cash flow information: |
 |
 |
| Income taxes paid |
81 |
50 |
| Interest paid |
113 |
144 |
| Interest received |
$ 1 |
$ 3 |