Best Buy 2013 Annual Report Download - page 64

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64
Consolidated Statements of Cash Flows
$ in millions
11 Months Ended 12 Months Ended
Fiscal Years Ended February 2,
2013 January 28,
2012 March 3,
2012 February 26,
2011
(Unaudited
recast)
Operating Activities
Net earnings (loss) including noncontrolling interests $ (420) $ (177) $ 22 $ 1,366
Adjustments to reconcile net earnings (loss) to total cash provided by operating
activities:
Depreciation 794 811 897 896
Amortization of definite-lived intangible assets 38 42 48 82
Restructuring charges 449 280 287 222
Goodwill impairments 822 1,207 1,207 —
Stock-based compensation 107 110 120 121
Realized gain on sale of investment — (55) (55) —
Deferred income taxes (19) 110 28 (134)
Excess tax benefits from stock-based compensation — — — (11)
Other, net 41 20 26 11
Changes in operating assets and liabilities, net of acquired assets and liabilities:
Receivables (551) (342) 41 (371)
Merchandise inventories (912) (1,067) 120 (400)
Other assets (65) 29 (24) 40
Accounts payable 1,735 2,095 574 (443)
Other liabilities (339) 82 (23) (156)
Income taxes (226) (48) 25 (33)
Total cash provided by operating activities 1,454 3,097 3,293 1,190
Investing Activities
Additions to property and equipment, net of $29, $13, $18 and $81 non-cash capital
expenditures (705) (709) (766) (744)
Purchases of investments (13) (111) (112) (267)
Sales of investments 69 290 290 415
Acquisition of businesses, net of cash acquired (31) (174) (174) —
Proceeds from sale of business, net of cash transferred 25 1 — 21
Change in restricted assets 101 58 40 (2)
Settlement of net investment hedges — — — 12
Other, net 16 (2) (2) (4)
Total cash used in investing activities (538) (647) (724) (569)
Financing Activities
Repurchase of common stock (122) (1,368) (1,500) (1,193)
Issuance of common stock under employee stock purchase plan and for the exercise of
stock options 25 66 67 179
Dividends paid (224) (228) (228) (237)
Repayments of debt (1,614) (3,192) (3,412) (3,120)
Proceeds from issuance of debt 1,741 3,911 3,921 3,021
Payment to noncontrolling interest (Note 3) — (1,303) (1,303) —
Acquisition of noncontrolling interests — — — (21)
Excess tax benefits from stock-based compensation — — — 11
Other, net (17) (27) (23) 3
Total cash used in financing activities (211) (2,141) (2,478) (1,357)
Effect of Exchange Rate Changes on Cash (4) (6) 5 13
Increase (Decrease) in Cash and Cash Equivalents 701 303 96 (723)
Adjustment for Fiscal Year-End Change (Note 2) (74) (5) — —
Increase (Decrease) in Cash and Cash Equivalents After Adjustment 627 298 96 (723)
Cash and Cash Equivalents at Beginning of Year 1,199 1,103 1,103 1,826
Cash and Cash Equivalents at End of Year $ 1,826 $ 1,401 $ 1,199 $ 1,103
Supplemental Disclosure of Cash Flow Information
Income taxes paid $ 478 $ 476 $ 568 $ 882
Interest paid 106 86 89 68
See Notes to Consolidated Financial Statements.
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