|
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
|
3 Months Ended |
9 Months Ended |
|
Nov. 01, 2014
|
Nov. 02, 2013
|
Nov. 01, 2014
|
Nov. 02, 2013
|
| Cash flows from operating activities |
|
|
|
|
| Net income/(loss) |
$ (188) |
$ (489) |
$ (712) |
$ (1,423) |
| Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities: |
|
|
|
|
| Restructuring and management transition |
2 |
48 |
5 |
109 |
| Asset impairments and other charges |
5 |
3 |
9 |
12 |
| Net gain on sale of non-operating assets |
(2) |
(24) |
(23) |
(86) |
| Net gain on sale of operating assets |
(90) |
0 |
(91) |
(18) |
| Loss on extinguishment of debt |
(34) |
0 |
(34) |
(114) |
| Depreciation and amortization |
156 |
161 |
474 |
440 |
| Benefit plans |
(5) |
16 |
(18) |
57 |
| Stock-based compensation |
8 |
6 |
24 |
22 |
| Deferred taxes |
(5) |
(14) |
(24) |
(203) |
| Change in cash from: |
|
|
|
|
| Inventory |
(510) |
(592) |
(423) |
(1,406) |
| Prepaid expenses and other assets |
(15) |
(30) |
(34) |
11 |
| Merchandise accounts payable |
305 |
133 |
341 |
247 |
| Current income taxes |
2 |
2 |
6 |
62 |
| Accrued expenses and other |
(17) |
43 |
(22) |
(135) |
| Net cash provided by/(used in) operating activities |
(320) |
(737) |
(454) |
(2,197) |
| Cash flows from investing activities |
|
|
|
|
| Capital expenditures |
(61) |
(161) |
(202) |
(814) |
| Net proceeds from sale of non-operating assets |
2 |
33 |
28 |
88 |
| Net proceeds from sale of operating assets |
66 |
0 |
68 |
19 |
| Joint venture return of investment |
0 |
0 |
8 |
0 |
| Net cash provided by/(used in) investing activities |
7 |
(128) |
(98) |
(707) |
| Cash flows from financing activities |
|
|
|
|
| Proceeds from short-term borrowings |
0 |
0 |
0 |
850 |
| Payments on short-term borrowings |
0 |
200 |
650 |
200 |
| Net proceeds from issuance of long-term debt |
393 |
0 |
893 |
2,180 |
| Premium on early retirement of debt |
33 |
0 |
33 |
110 |
| Payments of capital leases and note payable |
(4) |
(5) |
(22) |
(24) |
| Payments of long-term debt |
(394) |
(5) |
(405) |
(250) |
| Financing costs |
(1) |
(18) |
(61) |
(30) |
| Net proceeds from common stock issued |
0 |
786 |
0 |
786 |
| Proceeds from stock options exercised |
0 |
0 |
0 |
7 |
| Tax withholding payments for vested restricted stock |
0 |
(1) |
(1) |
(8) |
| Net cash provided by/(used in) financing activities |
(39) |
557 |
(279) |
3,201 |
| Net increase/(decrease) in cash and cash equivalents |
(352) |
(308) |
(831) |
297 |
| Cash and cash equivalents at beginning of period |
1,036 |
1,535 |
1,515 |
930 |
| Cash and cash equivalents at end of period |
684 |
1,227 |
684 |
1,227 |
| Supplemental cash flow information |
|
|
|
|
| Income taxes received/(paid), net |
(1) |
(1) |
(20) |
87 |
| Interest received/(paid), net |
(160) |
(125) |
(343) |
(361) |
| Supplemental non-cash investing and financing activity |
|
|
|
|
| Property contributed to joint venture |
0 |
0 |
30 |
0 |
| Increase/(decrease) in other accounts payable related to purchases of property and equipment |
(2) |
(53) |
(7) |
49 |
| Financing costs withheld from proceeds of long-term debt |
7 |
0 |
7 |
70 |
| Purchase of property and equipment and software through capital leases and a note payable |
0 |
1 |
3 |
4 |
| Issuance costs withheld from proceeds of common stock issued |
0 |
24 |
0 |
24 |
| Return of shares of Martha Stewart Living Omnimedia Inc. previously acquired by the Company |
$ 0 |
$ 36 |
$ 0 |
$ 36 |