Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Nov. 02, 2013
Oct. 27, 2012
Nov. 02, 2013
Oct. 27, 2012
Cash flows from operating activities        
Net income/(loss) $ (489) $ (123) $ (1,423) $ (433)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:        
Restructuring and management transition 48 12 109 102
Asset impairments and other charges 3 6 12 10
Net gain on sale or redemption of non-operating assets (24) (197) (86) (397)
Net gain on sale of operating assets 0 0 (18) 0
Loss on extinguishment of debt 0 0 114 0
Depreciation and amortization 161 133 440 386
Benefit plans 16 31 57 110
Stock-based compensation 6 12 22 38
Excess tax benefits from stock-based compensation 0 6 0 (17)
Deferred taxes (14) (27) (203) (224)
Change in cash from:        
Inventory (592) (369) (1,406) (446)
Prepaid expenses and other assets (30) (26) 11 (41)
Merchandise accounts payable 133 393 247 386
Current income taxes 2 74 62 108
Accrued expenses and other 43 27 (135) (237)
Net cash provided by/(used in) operating activities (737) (48) (2,197) (655)
Cash flows from investing activities        
Capital expenditures (161) (341) (814) (580)
Net proceeds from sale or redemption of non-operating assets 33 279 88 525
Acquisition 0 0 0 (9)
Net proceeds from sale of operating assets 0 0 19 0
Net cash provided by/(used in) investing activities (128) (62) (707) (64)
Cash flows from financing activities        
Proceeds from short-term borrowings 0 0 850 0
Payment on short-term borrowings (200) 0 (200) 0
Net proceeds from issuance of long-term debt 0 0 2,180 0
Premium on early retirement of debt 0 0 (110) 0
Payments of capital leases and note payable (5) (13) (24) (13)
Payments of Long-term Debt 5 230 250 230
Financing costs (18) 0 (30) (4)
Net proceeds from common stock issued 786 0 786 0
Dividends paid, common 0 0 0 (86)
Proceeds from stock options exercised 0 1 7 70
Excess tax benefits from stock-based compensation 0 (6) 0 17
Tax withholding payments for vested restricted stock (1) (5) (8) (17)
Net cash provided by/(used in) financing activities 557 (253) 3,201 (263)
Net increase/(decrease) in cash and cash equivalents (308) (363) 297 (982)
Cash and cash equivalents at beginning of period 1,535 888 930 1,507
Cash and cash equivalents at end of period 1,227 525 1,227 525
Supplemental cash flow information        
Income taxes received/(paid), net (1) 134 87 185
Interest received/(paid), net (125) (92) (361) (205)
Supplemental non-cash investing and financing activity        
Increase/(decrease) in other accounts payable related to purchases of property and equipment (53) (24) 49 139
Financing costs withheld from proceeds of long-term debt 0 0 70 0
Purchase of property and equipment and software through capital leases and a note payable 1 57 4 106
Issuance costs withheld from proceeds of common stock issued 24 0 24 0
Return of shares of Martha Stewart Living Omnimedia Inc. previously acquired by the Company $ 36 $ 0 $ 36 $ 0