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, unless otherwise specified
12 Months Ended
Jan. 28, 2012
Jan. 29, 2011
Jan. 30, 2010
Cash flows from operating activities:      
Net (loss)/income $ (152) $ 389 $ 251
(Income) from discontinued operations   (11) (2)
Adjustments to reconcile net (loss)/income to net cash (used in) operating activities:      
Restructuring and management transition 314 24  
Asset impairments and other charges 67 8 48
Depreciation and amortization 518 511 495
Net (gains) on sale of assets (6) (8) (2)
Benefit plans expense 55 197 276
Pension contribution   (392)  
Stock-based compensation 46 53 40
Excess tax benefits from stock-based compensation (10) (2)  
Deferred taxes (153) 126 76
Change in cash from:      
Inventory 297 (189) 235
Prepaid expenses and other assets (67) 27 36
Merchandise accounts payable (111) (93) 32
Current income taxes payable (15) 33 (54)
Accrued expenses and other 37 (81) 142
Net cash provided by operating activities 820 592 1,573
Cash flows from investing activities:      
Capital expenditures (634) (499) (600)
Proceeds from sale of assets 15 14 13
Proceeds from joint venture cash distribution 53    
Acquisition (268)    
Cost investment, net (36)    
Net cash (used in) investing activities (870) (485) (587)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt   392  
Payments of long-term debt   (693) (113)
Financing costs (20) (14) (32)
Dividends paid, common (178) (189) (183)
Proceeds from issuance of stock warrant 50    
Stock repurchase program (900)    
Proceeds from stock options exercised 18 8 4
Excess tax benefits from stock-based compensation 10 2  
Tax withholding payments reimbursed by restricted stock (45) (2) (3)
Net cash (used in) financing activities (1,065) (496) (327)
Net (decrease)/increase in cash and cash equivalents (1,115) (389) 659
Cash and cash equivalents at beginning of year 2,622 3,011 2,352
Cash and cash equivalents at end of year 1,507 2,622 3,011
Supplemental cash flow information:      
Income taxes paid 91 50 130
Interest paid 227 258 264
Interest received 2 5 5
Significant non-cash transactions:      
Pension contribution of Company common stock     $ 340