Home Depot 2008 Annual Report Download - page 36

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THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
amounts in millions February 1,
2009 February 3,
2008 January 28,
2007
Fiscal Year Ended
(1)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings $ 2,260 $ 4,395 $ 5,761
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization 1,902 1,906 1,886
Impairment Related to Rationalization Charges 580 ——
Impairment of Investment 163 ——
Stock-Based Compensation Expense 176 207 297
Changes in Assets and Liabilities, net of the effects of acquisitions and disposition:
Decrease in Receivables, net 121 116 96
Decrease (Increase) in Merchandise Inventories 743 (491) (563)
(Increase) Decrease in Other Current Assets (7) 109 (225)
(Decrease) Increase in Accounts Payable and Accrued Liabilities (646) (465) 531
Decrease in Deferred Revenue (292) (159) (123)
Increase (Decrease) in Income Taxes Payable 262 — (172)
(Decrease) Increase in Deferred Income Taxes (282) (348) 46
Increase (Decrease) in Other Long-Term Liabilities 306 186 (51)
Other 242 271 178
Net Cash Provided by Operating Activities 5,528 5,727 7,661
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures, net of $37, $19 and $49 of non-cash capital expenditures
in fiscal 2008, 2007 and 2006, respectively (1,847) (3,558) (3,542)
Proceeds from Sale of Business, net — 8,337 —
Payments for Businesses Acquired, net — (13) (4,268)
Proceeds from Sales of Property and Equipment 147 318 138
Purchases of Investments (168) (11,225) (5,409)
Proceeds from Sales and Maturities of Investments 139 10,899 5,434
Net Cash (Used in) Provided by Investing Activities (1,729) 4,758 (7,647)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Repayments of) Proceeds from Short-Term Borrowings, net (1,732) 1,734 (900)
Proceeds from Long-Term Borrowings, net of discount — — 8,935
Repayments of Long-Term Debt (313) (20) (509)
Repurchases of Common Stock (70) (10,815) (6,684)
Proceeds from Sale of Common Stock 84 276 381
Cash Dividends Paid to Stockholders (1,521) (1,709) (1,395)
Other Financing Activities (128) (105) (31)
Net Cash Used in Financing Activities (3,680) (10,639) (203)
Increase (Decrease) in Cash and Cash Equivalents 119 (154) (189)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (45) (1) (4)
Cash and Cash Equivalents at Beginning of Year 445 600 793
Cash and Cash Equivalents at End of Year $ 519 $ 445 $ 600
SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR:
Interest, net of interest capitalized $ 622 $ 672 $ 270
Income Taxes $ 1,265 $ 2,524 $ 3,963
(1) Fiscal years ended February 1, 2009 and January 28, 2007 include 52 weeks. Fiscal year ended February 3, 2008
includes 53 weeks.
See accompanying Notes to Consolidated Financial Statements.
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