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
Feb. 03, 2018
Jan. 28, 2017
Jan. 30, 2016
Cash flows from operating activities      
Net income/(loss) $ (116) $ 1 $ (513)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Restructuring and management transition 74 (1) 10
Asset impairments and other charges 6 3 25
Net gain on sale of non-operating assets 0 (5) (9)
Net gain from sale of operating assets (119) (73) (9)
Loss on extinguishment of debt 33 30 10
Depreciation and amortization 570 609 616
Benefit plans 106 (39) 127
Stock-based compensation [1] 25 35 44
Other comprehensive income tax benefits (60) (12) 0
Deferred taxes (63) 9 0
Change in cash from:      
Inventory 92 (133) (69)
Prepaid expenses and other assets (15) 11 19
Merchandise accounts payable (4) 52 (72)
Income taxes (12) (6) 4
Accrued expenses and other (63) (147) 257
Net cash provided by/(used in) operating activities 454 334 440
Cash flows from investing activities      
Capital expenditures (395) (427) (320)
Proceeds from sale of non-operating assets 0 2 13
Proceeds from sale of operating assets 154 96 11
Joint venture return of investment 9 13 0
Insurance proceeds received for damage to property and equipment 3 0 0
Net cash provided by/(used in) investing activities (229) (316) (296)
Cash flows from financing activities      
Proceeds from issuance of long-term debt 0 2,188 0
Proceeds from borrowings under the credit facility 804 667 0
Payments of borrowings under the credit facility (804) (667) 0
Net proceeds from financing obligation 0 216 0
Premium on early retirement of debt (30) 0 0
Payments of capital leases, financing obligation and note payable (16) (29) (33)
Payments of long-term debt (599) (2,349) (520)
Financing costs (9) (49) (4)
Proceeds from stock issued under stock plans 5 2 0
Excess tax benefits from stock-based compensation 0 0 0
Tax withholding payments for vested restricted stock (5) (10) (5)
Net cash provided by/(used in) financing activities (654) (31) (562)
Net increase/(decrease) in cash and cash equivalents (429) (13) (418)
Cash and cash equivalents at beginning of period 887 900 1,318
Cash and cash equivalents at end of period $ 458 $ 887 $ 900
[1] Excludes $2 million, $0 million and $9 million for 2017, 2016 and 2015, respectively, of stock-based compensation costs reported in restructuring and management transition charges (Note 17).