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
Feb. 01, 2014
Feb. 02, 2013
Jan. 28, 2012
Cash flows from operating activities      
Net income/(loss) $ (1,388) $ (985) $ (152)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:      
Restructuring and management transition 132 121 314
Asset impairments and other charges 30 117 67
Net gain on sale or redemption of non-operating assets (132) (397) 0
Net gain on sale of operating assets (17) 0 (6)
Loss on extinguishment of debt 114 0 0
Depreciation and amortization 601 543 518
Benefit plans 70 272 55
Stock-based compensation 28 [1] 50 [1] 46 [1]
Excess tax benefits from stock-based compensation 0 (12) (10)
Other comprehensive income tax benefits (303) 0 0
Deferred taxes (164) (467) (153)
Change in cash from:      
Inventory (594) 575 297
Prepaid expenses and other assets 74 (5) (67)
Merchandise accounts payable (214) 140 (111)
Current income taxes 50 117 (15)
Accrued expenses and other (101) (79) 37
Net cash provided by/(used in) operating activities (1,814) (10) 820
Cash flows from investing activities      
Capital expenditures (951) (810) (634)
Proceeds from sale or redemption of non-operating assets 143 526 0
Acquisition 0 (9) (268)
Proceeds from sale of operating assets 19 0 15
Cost investment, net 0 0 (36)
Proceeds from joint venture cash distribution 0 0 53
Net cash provided by/(used in) investing activities (789) (293) (870)
Cash flows from financing activities      
Proceeds from short-term borrowings 850 0 0
Payment on short-term borrowings (200) 0 0
Net proceeds from issuance of long-term debt 2,180 0 0
Premium on early retirement of debt (110) 0 0
Payments of capital leases and note payable (29) (20) 0
Payments of long-term debt (256) (230) 0
Financing costs (31) (4) (20)
Net proceeds from common stock issued 786 0 0
Dividends paid, common 0 (86) (178)
Stock repurchase program 0 0 (900)
Proceeds from issuance of stock warrant 0 0 50
Proceeds from stock options exercised 7 71 18
Excess tax benefits from stock-based compensation 0 12 10
Tax withholding payments for vested restricted stock (9) (17) (45)
Net cash provided by/(used in) financing activities 3,188 (274) (1,065)
Net increase/(decrease) in cash and cash equivalents 585 (577) (1,115)
Cash and cash equivalents at beginning of period 930 1,507 2,622
Cash and cash equivalents at end of period $ 1,515 $ 930 $ 1,507
[1] Excludes $18 million, $11 million and $79 million for 2013, 2012 and 2011, respectively, of stock-based compensation costs reported in restructuring and management transition charges (see Note 16).