Home Depot 2006 Annual Report Download - page 47

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THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal Year Ended(1)
January 28, January 29, January 30,
amounts in millions 2007 2006 2005
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings $ 5,761 $ 5,838 $ 5,001
Reconciliation of Net Earnings to Net Cash Provided by Operating
Activities:
Depreciation and Amortization 1,886 1,579 1,319
Impairment Related to Disposition of EXPO Real Estate —78 —
Stock-Based Compensation Expense 297 175 125
Changes in Assets and Liabilities, net of the effects of acquisitions:
Decrease (Increase) in Receivables, net 96 (358) (266)
Increase in Merchandise Inventories (563) (971) (849)
(Increase) Decrease in Other Current Assets (225) 16 29
Increase in Accounts Payable and Accrued Liabilities 531 148 645
(Decrease) Increase in Deferred Revenue (123) 209 263
(Decrease) Increase in Income Taxes Payable (172) 175 2
Increase (Decrease) in Deferred Income Taxes 46 (609) 319
(Decrease) Increase in Other Long-Term Liabilities (51) 151 119
Other 178 189 (75)
Net Cash Provided by Operating Activities 7,661 6,620 6,632
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures, net of $49, $51 and $38 of non-cash capital
expenditures in fiscal 2006, 2005 and 2004, respectively (3,542) (3,881) (3,948)
Payments for Businesses Acquired, net (4,268) (2,546) (727)
Proceeds from Sales of Property and Equipment 138 164 96
Purchases of Investments (5,409) (18,230) (25,890)
Proceeds from Sales and Maturities of Investments 5,434 19,907 25,990
Net Cash Used in Investing Activities (7,647) (4,586) (4,479)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments of) Proceeds from Short-Term Borrowings, net (900) 900 —
Proceeds from Long-Term Borrowings, net of discount 8,935 995 995
Repayments of Long-Term Debt (509) (24) (510)
Repurchases of Common Stock (6,684) (3,040) (3,106)
Proceeds from Sale of Common Stock 381 414 285
Cash Dividends Paid to Stockholders (1,395) (857) (719)
Other Financing Activities (31) (136) 272
Net Cash Used in Financing Activities (203) (1,748) (2,783)
(Decrease) Increase in Cash and Cash Equivalents (189) 286 (630)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (4) 133
Cash and Cash Equivalents at Beginning of Year 793 506 1,103
Cash and Cash Equivalents at End of Year $ 600 $ 793 $ 506
SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR:
Interest, net of interest capitalized $ 270 $ 114 $ 78
Income Taxes $ 3,963 $ 3,860 $ 2,793
(1) Fiscal years ended January 28, 2007, January 29, 2006 and January 30, 2005 include 52 weeks.
See accompanying Notes to Consolidated Financial Statements.
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