Kohl's 2015 Annual Report Download - page 45

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Table of Contents







Net income  
$ 867
$ 889
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 
886
889
Share-based compensation 
48
55
Excess tax benefits from share-based compensation 
(3)
(3)
Deferred income taxes 
49
(4)
Other non-cash expenses, net
31
43
Loss on extinguishment of debt 
—
—
Changes in operating assets and liabilities:
Merchandise inventories 
68
(116)
Other current and long-term assets
(30)
(7)
Accounts payable 
146
58
Accrued and other long-term liabilities
30
142
Income taxes
(68)
(62)
Net cash provided by operating activities 
2,024
1,884

Acquisition of property and equipment 
(682)
(643)
Sales of investments in auction rate securities
82
1
Other
7
19
Net cash used in investing activities 
(593)
(623)

Treasury stock purchases 
(677)
(799)
Shares withheld for taxes on vested restricted shares 
(19)
(13)
Dividends paid 
(317)
(302)
Proceeds from issuance of debt 
—
300
Deferred financing costs 
—
(4)
Reduction of long-term borrowings 
—
—
Premium paid on redemption of debt 
—
—
Capital lease and financing obligation payments 
(114)
(115)
Proceeds from stock option exercises 
123
102
Excess tax benefits from share-based compensation
3
3
Proceeds from financing obligations
6
1
Net cash used in financing activities 
(995)
(827)
Net (decrease) increase in cash and cash equivalents 
436
434
Cash and cash equivalents at beginning of period 
971
537
Cash and cash equivalents at end of period  
$ 1,407
$ 971

Interest paid, net of capitalized interest  
$ 329
$ 326
Income taxes paid 
502
561

Property and equipment acquired through capital lease and financing obligations  
$ 41
$ 121
See accompanying Notes to Consolidated Financial Statements
F-6