Kroger 2012 Annual Report Download - page 94

A-36
THE KROGER CO.
CO N S O L I D A T E D S T A T E M E N T S O F C A S H F L O W S
Years Ended February 2, 2013, January 28, 2012 and January 29, 2011
(In millions)
2012
(53 weeks)
2011
(52 weeks)
2010
(52 weeks)
Cash Flows From Operating Activities:
Net earnings including noncontrolling interests .................................. $ 1,508 $ 596 $ 1,133
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization............................................ 1,652 1,638 1,600
Goodwill impairment charge ............................................. —— 18
Asset impairment charge ................................................ 18 37 25
LIFO charge .......................................................... 55 216 57
Stock-based employee compensation ...................................... 82 81 79
Expense for Company-sponsored pension plans .............................. 89 70 65
Deferred income taxes.................................................. 176 31 37
Other ............................................................... 17 8 8
Changes in operating assets and liabilities net of effects from acquisitions
of businesses:
Store deposits in-transit ............................................... (169) (120) (12)
Inventories ......................................................... (78) (361) (88)
Receivables......................................................... (126) (63) (11)
Prepaid expenses .................................................... (257) 52 290
Trade accounts payable ............................................... 58 82 315
Accrued expenses ................................................... 76 216 71
Income taxes receivable and payable..................................... 164 (106) 133
Contribution to Company-sponsored pension plans ......................... (71) (52) (141)
Other ............................................................. (361) 333 (213)
Net cash provided by operating activities ................................... 2,833 2,658 3,366
Cash Flows From Investing Activities:
Payments for capital investments............................................ (2,062) (1,898) (1,919)
Proceeds from sale of assets................................................ 49 51 55
Payments for acquisitions.................................................. (122) (51) (7)
Other ................................................................. (48) (10) (90)
Net cash used by investing activities ....................................... (2,183) (1,908) (1,961)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt..................................... 863 453 381
Payments on long-term debt ............................................... (1,445) (547) (553)
Net borrowings of commercial paper ........................................ 1,275 370 —
Proceeds from issuance of capital stock ...................................... 110 118 29
Treasury stock purchases .................................................. (1,261) (1,547) (545)
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (267) (257) (250)
Investment in the remaining interest of a variable interest entity ................... —— (86)
Other ................................................................. 125 23 20
Net cash used by financing activities ....................................... (600) (1,387) (1,004)
Net increase (decrease) in cash and temporary cash investments ..................... 50 (637) 401
Cash and temporary cash investments:
Beginning of year ........................................................ 188 825 424
End of year ............................................................. $ 238 $ 188 $ 825
Reconciliation of capital investments:
Payments for capital investments .............................................. $(2,062) $(1,898) $(1,919)
Changes in construction-in-progress payables .................................... (1) (60) 22
Total capital investments .................................................. $(2,063) $(1,958) $(1,897)
Disclosure of cash flow information:
Cash paid during the year for interest ........................................ $ 438 $ 457 $ 486
Cash paid during the year for income taxes.................................... $ 468 $ 296 $ 664
The accompanying notes are an integral part of the consolidated financial statements.