Best Buy 2014 Annual Report Download - page 64

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59
Consolidated Statements of Cash Flows
$ in millions
12 Months
Ended 11 Months Ended 12 Months
Ended
Fiscal Years Ended February 1,
2014 February 2,
2013 January 28,
2012 March 3,
2012
(Unaudited
recast)
Operating Activities
Net earnings (loss) including noncontrolling interests $ 523 $ (420) $ (177) $ 22
Adjustments to reconcile net earnings (loss) to total cash provided by operating
activities:
Depreciation 701 794 811 897
Amortization of definite-lived intangible assets 15 38 42 48
Restructuring charges 259 449 280 287
Goodwill impairments — 822 1,207 1,207
Loss on sale of business 143 — — —
Stock-based compensation 90 107 110 120
Realized gain on sale of investment — — (55) (55)
Deferred income taxes (28) (19) 110 28
Other, net 62 41 20 26
Changes in operating assets and liabilities, net of assets and liabilities acquired or sold:
Receivables 7 (551) (342) 41
Merchandise inventories 597 (912) (1,067) 120
Other assets (70) (65) 29 (24)
Accounts payable (986) 1,735 2,095 574
Other liabilities (273) (339) 82 (23)
Income taxes 54 (226) (48) 25
Total cash provided by operating activities 1,094 1,454 3,097 3,293
Investing Activities
Additions to property and equipment, net of $13, $29, $13 and $18 non-cash capital
expenditures (547) (705) (709) (766)
Purchases of investments (230) (13) (111) (112)
Sales of investments 50 69 290 290
Acquisition of businesses, net of cash acquired — (31) (174) (174)
Proceeds from sale of business, net of cash transferred 206 25 1 —
Change in restricted assets 5 101 58 40
Other, net (1) 16 (2) (2)
Total cash used in investing activities (517) (538) (647) (724)
Financing Activities
Repurchase of common stock — (122) (1,368) (1,500)
Issuance of common stock under employee stock purchase plan and for the exercise of
stock options 171 25 66 67
Dividends paid (233) (224) (228) (228)
Repayments of debt (2,033) (1,614) (3,192) (3,412)
Proceeds from issuance of debt 2,414 1,741 3,911 3,921
Payment to noncontrolling interest (Note 3) — — (1,303) (1,303)
Other, net — (17) (27) (23)
Total cash provided by (used in) financing activities 319 (211) (2,141) (2,478)
Effect of Exchange Rate Changes on Cash (44) (4) (6) 5
Increase in Cash and Cash Equivalents 852 701 303 96
Adjustment for Fiscal Year-end Change (Note 2) — (74) (5) —
Increase in Cash and Cash Equivalents After Adjustment 852 627 298 96
Cash and Cash Equivalents at Beginning of Year 1,826 1,199 1,103 1,103
Cash and Cash Equivalents at End of Year $ 2,678 $ 1,826 $ 1,401 $ 1,199
Supplemental Disclosure of Cash Flow Information
Income taxes paid $ 332 $ 478 $ 476 $ 568
Interest paid 82 106 86 89
See Notes to Consolidated Financial Statements.