|
CONSOLIDATED STATEMENTS of CASH FLOWS (Unaudited) (USD $)
In Millions, unless otherwise specified
|
9 Months Ended |
|
Oct. 29, 2011
|
Oct. 30, 2010
|
| Cash flows from operating activities: |
|
|
| Net (loss)/income |
$ (65) |
$ 118 |
| Adjustments to reconcile net (loss)/income to net cash (used in) operating activities: |
|
|
| Restructuring and management transition |
257 |
|
| Asset impairments and other charges |
8 |
4 |
| Depreciation and amortization |
383 |
379 |
| Benefit plans expense |
46 |
149 |
| Voluntary pension contribution |
|
(392) |
| Stock-based compensation |
33 |
36 |
| Excess tax benefits from stock-based compensation |
(5) |
(1) |
| Deferred taxes |
(96) |
79 |
| Change in cash from: |
|
|
| Inventory |
(1,163) |
(1,243) |
| Prepaid expenses and other assets |
(90) |
7 |
| Merchandise accounts payable |
698 |
540 |
| Current income taxes payable |
(34) |
(72) |
| Accrued expenses and other |
(105) |
(122) |
| Net cash (used in) operating activities |
(133) |
(518) |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(469) |
(380) |
| Proceeds from sale of assets |
1 |
4 |
| Proceeds from joint venture cash distribution |
53 |
|
| Net cash (used in) investing activities |
(415) |
(376) |
| 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 |
(135) |
(142) |
| Proceeds from issuance of stock warrant |
50 |
|
| Stock repurchase program |
(900) |
|
| Proceeds from stock options exercised |
12 |
7 |
| Excess tax benefits from stock-based compensation |
5 |
1 |
| Tax withholding payments reimbursed by restricted stock |
(6) |
(2) |
| Net cash (used in) financing activities |
(989) |
(451) |
| Net (decrease) in cash and cash equivalents |
(1,537) |
(1,345) |
| Cash and cash equivalents at beginning of year |
2,622 |
3,011 |
| Cash and cash equivalents at end of period |
1,085 |
1,666 |
| Supplemental cash flow information: |
|
|
| Income taxes paid |
96 |
55 |
| Interest paid |
204 |
235 |
| Interest received |
$ 2 |
$ 4 |