Home Depot 2010 Annual Report Download - page 41

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THE HOME DEPOT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal Year Ended(1)
amounts in millions January 30,
2011 January 31,
2010 February 1,
2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Earnings $ 3,338 $ 2,661 $ 2,260
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities:
Depreciation and Amortization 1,718 1,806 1,902
Impairment Related to Rationalization Charges —— 580
Impairment of Investment —163 163
Stock-Based Compensation Expense 214 201 176
Changes in Assets and Liabilities:
(Increase) Decrease in Receivables, net (102) (23) 121
(Increase) Decrease in Merchandise Inventories (355) 625 743
Decrease (Increase) in Other Current Assets 12 4 (7)
(Decrease) Increase in Accounts Payable and Accrued Expenses (133) 59 (646)
Increase (Decrease) in Deferred Revenue 10 (21) (292)
(Decrease) Increase in Income Taxes Payable (85) (174) 262
Increase (Decrease) in Deferred Income Taxes 104 (227) (282)
(Decrease) Increase in Other Long-Term Liabilities (61) (19) 306
Other (75) 70 242
Net Cash Provided by Operating Activities 4,585 5,125 5,528
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures, net of $62, $10 and $37 of non-cash capital
expenditures in fiscal 2010, 2009 and 2008, respectively (1,096) (966) (1,847)
Proceeds from Sales of Property and Equipment 84 178 147
Purchases of Investments —— (168)
Proceeds from Sales and Maturities of Investments —33 139
Net Cash Used in Investing Activities (1,012) (755) (1,729)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of Short-Term Borrowings, net —— (1,732)
Proceeds from Long-Term Borrowings, net of discount 998 ——
Repayments of Long-Term Debt (1,029) (1,774) (313)
Repurchases of Common Stock (2,608) (213) (70)
Proceeds from Sales of Common Stock 104 73 84
Cash Dividends Paid to Stockholders (1,569) (1,525) (1,521)
Other Financing Activities (347) (64) (128)
Net Cash Used in Financing Activities (4,451) (3,503) (3,680)
(Decrease) Increase in Cash and Cash Equivalents (878) 867 119
Effect of Exchange Rate Changes on Cash and Cash Equivalents 235 (45)
Cash and Cash Equivalents at Beginning of Year 1,421 519 445
Cash and Cash Equivalents at End of Year $ 545 $ 1,421 $ 519
SUPPLEMENTAL DISCLOSURE OF CASH PAYMENTS MADE FOR:
Interest, net of interest capitalized $ 579 $ 664 $ 622
Income Taxes $ 2,067 $ 2,082 $ 1,265
(1) Fiscal years ended January 30, 2011, January 31, 2010 and February 1, 2009 include 52 weeks.
See accompanying Notes to Consolidated Financial Statements.
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