Home Depot 2002 Annual Report Download - page 33

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CONSOLIDATED STATEMENTS OF CASH FLOWS
THE HOME DEPOT, INC. AND SUBSIDIARIES
Fiscal Year Ended(1)
February 2, February 3, January 28,
amounts in millions 2003 2002 2001
CASH FLOWS FROM OPERATIONS:
Net Earnings $3,664 $3,044 $2,581
Reconciliation of Net Earnings to Net Cash Provided by Operations:
Depreciation and Amortization 903 764 601
Increase in Receivables, net (38) (119) (246)
Increase in Merchandise Inventories (1,592) (166) (1,075)
Increase in Accounts Payable and Accrued Liabilities 1,394 1,878 268
Increase in Deferred Revenue 147 200 486
Increase in Income Taxes Payable 83 272 151
Increase (Decrease) in Deferred Income Taxes 173 (6) 108
Other 68 96 (78)
Net Cash Provided by Operations 4,802 5,963 2,796
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures, net of $49, $5 and $16 of non-cash
capital expenditures in fiscal 2002, 2001 and 2000, respectively (2,749) (3,393) (3,558)
Payments for Businesses Acquired, net (235) (190) (26)
Proceeds from Sales of Businesses, net 22 64 –
Proceeds from Sales of Property and Equipment 105 126 95
Purchases of Investments (583) (85) (39)
Proceeds from Maturities of Investments 506 25 30
Other –(13) (32)
Net Cash Used in Investing Activities (2,934) (3,466) (3,530)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments) Issuances of Commercial Paper Obligations, net –(754) 754
Proceeds from Long-Term Debt 1532 32
Repayments of Long-Term Debt –– (29)
Repurchase of Common Stock (2,000) ––
Proceeds from Sale of Common Stock, net 326 445 351
Cash Dividends Paid to Stockholders (492) (396) (371)
Net Cash (Used in) Provided by Financing Activities (2,165) (173) 737
Effect of Exchange Rate Changes on Cash and Cash Equivalents 8(14) (4)
(Decrease) Increase in Cash and Cash Equivalents (289) 2,310 (1)
Cash and Cash Equivalents at Beginning of Year 2,477 167 168
Cash and Cash Equivalents at End of Year $2,188 $2,477 $ 167
SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR:
Interest, net of interest capitalized $50 $18 $16
Income Taxes $1,951 $ 1,685 $ 1,386
(1) Fiscal years ended February 2, 2003, and January 28, 2001, include 52 weeks. Fiscal year ended February 3, 2002, includes 53 weeks.
See accompanying notes to consolidated financial statements.
THE HOME DEPOT, INC. 2002 ANNUAL REPORT 31