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 6 Months Ended
Aug. 02, 2014
Aug. 03, 2013
Aug. 02, 2014
Aug. 03, 2013
Cash flows from operating activities        
Net income/(loss) $ (172) $ (586) $ (524) $ (934)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:        
Restructuring and management transition 1 24 3 61
Asset impairments and other charges 2 7 4 9
Net gain on sale of non-operating assets (9) (62) (21) (62)
Net gain on sale of operating assets 0 (2) (1) (18)
Loss on extinguishment of debt 0 (114) 0 (114)
Depreciation and amortization 160 143 318 279
Benefit plans (4) 24 (13) 41
Stock-based compensation 9 11 16 16
Deferred taxes (14) (25) (19) (189)
Change in cash from:        
Inventory (13) (357) 87 (814)
Prepaid expenses and other assets 8 (9) (19) 41
Merchandise accounts payable 143 29 36 114
Current income taxes (6) 5 4 60
Accrued expenses and other 32 (24) (5) (178)
Net cash provided by/(used in) operating activities 137 (708) (134) (1,460)
Cash flows from investing activities        
Capital expenditures (61) (439) (141) (653)
Net proceeds from sale of non-operating assets 11 55 26 55
Net proceeds from sale of operating assets 0 1 2 19
Joint venture return of investment 8   8  
Net cash provided by/(used in) investing activities (42) (383) (105) (579)
Cash flows from financing activities        
Proceeds from short-term borrowings 0 0 0 850
Payment on short-term borrowings 650 0 650 0
Net proceeds from issuance of long-term debt 500 2,180 500 2,180
Premium on early retirement of debt 0 110 0 110
Payments of capital leases and note payable (13) (14) (18) (19)
Payments of long-term debt (6) (245) (11) (245)
Financing costs (60) (4) (60) (12)
Proceeds from stock options exercised 0 2 0 7
Tax withholding payments for vested restricted stock 0 (4) (1) (7)
Net cash provided by/(used in) financing activities (229) 1,805 (240) 2,644
Net increase/(decrease) in cash and cash equivalents (134) 714 (479) 605
Cash and cash equivalents at beginning of period 1,170 821 1,515 930
Cash and cash equivalents at end of period 1,036 1,535 1,036 1,535
Supplemental cash flow information        
Income taxes received/(paid), net (16) (2) (19) 88
Interest received/(paid), net (57) (152) (183) (236)
Supplemental non-cash investing and financing activity        
Property contributed to joint venture 0 0 30 0
Increase/(decrease) in other accounts payable related to purchases of property and equipment (6) (178) (5) 102
Financing costs withheld from proceeds of long-term debt $ 0 $ 70 $ 0 $ 70