Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jan. 30, 2016
Jan. 31, 2015
Feb. 01, 2014
Cash flows from operating activities      
Net income/(loss) $ (513) $ (717) [1] $ (1,278) [1]
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Restructuring and management transition 10 32 [1] 132 [1]
Asset impairments and other charges 25 39 [1] 30 [1]
Net gain on sale or redemption of non-operating assets (9) (25) [1] (132) [1]
Net gain from sale of operating assets (9) (92) [1] (17) [1]
Loss on extinguishment of debt 10 34 [1] 114 [1]
Depreciation and amortization 616 631 [1] 601 [1]
Benefit plans 127 (78) [1] (108) [1]
Stock-based compensation [2] 44 33 [1] 28 [1]
Other comprehensive income tax benefits 0 0 [1] (250) [1]
Deferred taxes 0 3 [1] (149) [1]
Change in cash from:      
Inventory (69) 283 [1] (594) [1]
Prepaid expenses and other assets 19 (1) [1] 74 [1]
Merchandise accounts payable (72) 49 [1] (214) [1]
Current income taxes 4 (10) [1] 50 [1]
Accrued expenses and other 257 58 [1] (101) [1]
Net cash provided by/(used in) operating activities 440 239 [1] (1,814) [1]
Cash flows from investing activities      
Capital expenditures (320) (252) [1] (951) [1]
Proceeds from sale or redemption of non-operating assets 13 35 [1] 143 [1]
Proceeds from sale of operating assets 11 70 [1] 19 [1]
Joint venture return of investment 0 5 [1] 0 [1]
Net cash provided by/(used in) investing activities (296) (142) [1] (789) [1]
Cash flows from financing activities      
Proceeds from short-term borrowings 0 0 [1] 850 [1]
Payment on short-term borrowings 0 (650) [1] (200) [1]
Net proceeds from issuance of long-term debt 0 893 [1] 2,180 [1]
Premium on early retirement of debt 0 (33) [1] (110) [1]
Payments of capital leases and note payable (33) (26) [1] (29) [1]
Payments of long-term debt (520) (412) [1] (256) [1]
Financing costs (4) (65) [1] (31) [1]
Net proceeds from common stock issued 0 0 [1] 786 [1]
Proceeds from stock options exercised 0 0 [1] 7 [1]
Excess tax benefits from stock-based compensation 0 0 0
Tax withholding payments for vested restricted stock (5) (1) [1] (9) [1]
Net cash provided by/(used in) financing activities (562) (294) [1] 3,188 [1]
Net increase/(decrease) in cash and cash equivalents (418) (197) [1] 585 [1]
Cash and cash equivalents at beginning of period [1] 1,318 1,515 930
Cash and cash equivalents at end of period $ 900 $ 1,318 [1] $ 1,515 [1]
[1] As Adjusted
[2] Excludes $9 million, $3 million and $18 million for 2015, 2014 and 2013, respectively, of stock-based compensation costs reported in restructuring and management transition charges (Note 17).