Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Cash flows from operating activities      
Net income/(loss) $ 1 $ (513) $ (717)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Restructuring and management transition (1) 10 32
Asset impairments and other charges 3 25 39
Net gain on sale or redemption of non-operating assets (5) (9) (25)
Net gain from sale of operating assets (73) (9) (92)
Loss on extinguishment of debt 30 10 34
Depreciation and amortization 609 616 631
Benefit plans (39) 127 (78)
Stock-based compensation [1] 35 44 33
Other comprehensive income tax benefits (12) 0 0
Deferred taxes 9 0 3
Change in cash from:      
Inventory (133) (69) 283
Prepaid expenses and other assets 11 19 (1)
Merchandise accounts payable 52 (72) 49
Current income taxes (6) 4 (10)
Accrued expenses and other (147) 257 58
Net cash provided by/(used in) operating activities 334 440 239
Cash flows from investing activities      
Capital expenditures (427) (320) (252)
Proceeds from sale or redemption of non-operating assets 2 13 35
Proceeds from sale of operating assets 96 11 70
Joint venture return of investment 13 0 5
Net cash provided by/(used in) investing activities (316) (296) (142)
Cash flows from financing activities      
Payment on short-term borrowings 0 0 (650)
Proceeds from issuance of long-term debt 2,188 0 893
Proceeds from borrowings under the credit facility 667 0 0
Payments of borrowings under the credit facility (667)    
Net proceeds from financing obligation 216 0 0
Premium on early retirement of debt 0 0 (33)
Payments of capital leases, financing obligation and note payable (29) (33) (26)
Payments of long-term debt (2,349) (520) (412)
Financing costs (49) (4) (65)
Proceeds from stock options exercised 2 0 0
Excess tax benefits from stock-based compensation 0 0 0
Tax withholding payments for vested restricted stock (10) (5) (1)
Net cash provided by/(used in) financing activities (31) (562) (294)
Net increase/(decrease) in cash and cash equivalents (13) (418) (197)
Cash and cash equivalents at beginning of period 900 1,318 1,515
Cash and cash equivalents at end of period $ 887 $ 900 $ 1,318
[1] Excludes $0 million, $9 million and $3 million for 2016, 2015 and 2014, respectively, of stock-based compensation costs reported in restructuring and management transition charges (Note 16).