Kohl's 2009 Annual Report Download - page 48
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Net income $885 $1,084
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization, including debt discount and deferred
financing fees 543 453
Share-based compensation expense 55 54
Excess tax benefits from share-based compensation expense — (6)
Deferred income taxes 84 (12)
Other non-cash revenues and expenses 47 34
Changes in operating assets and liabilities:
Merchandise inventories 60 (275)
Other current and long-term assets (40) (78)
Accounts payable 48 (98)
Accrued and other long-term liabilities 42 152
Income taxes (26) (103)
Net cash provided by operating activities 1,698 1,205
Acquisition of property and equipment and favorable lease rights (1,014) (1,542)
Purchases of investments in auction rate securities (53) (6,521)
Sales of investments in auction rate securities 93 6,441
Other 11 26
Net cash used in investing activities (963) (1,596)
Treasury stock purchases (262) (748)
Capital lease payments (16) (20)
Proceeds from issuance of debt, net of deferred financing costs — 989
Proceeds from stock option exercises 5 98
Excess tax benefits from share-based compensation expense — 6
Net cash provided by (used in) financing activities (273) 325
Net change in cash and cash equivalents 462 (66)
Cash and cash equivalents at beginning of year 181 247
Cash and cash equivalents at end of year $643 $ 181
See accompanying Notes to Consolidated Financial Statements
F-6