Kroger 2015 Annual Report Download - page 108

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A-34
THE KROGER CO.
CONSOLIDATED STATEMEN TS oF CASH FLOWS
Years Ended January 30, 2016, January 31, 2015 and February 1, 2014
(In millions)
2015
(52 weeks)
2014
(52 weeks)
2013
(52 weeks)
Cash Flows From Operating Activities:
Net earnings including noncontrolling interests $ 2,049 $ 1,747 $ 1,531
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 2,089 1,948 1,703
Asset impairment charge 46 37 39
LIFO charge 28 147 52
Stock-based employee compensation 165 155 107
Expense for Company-sponsored pension plans 103 55 74
Deferred income taxes 317 73 72
Other 54 72 47
Changes in operating assets and liabilities net of effects from mergers
of businesses:
Store deposits in-transit 95 (27) 25
Receivables (59) (141) (8)
Inventories (184) (147) (131)
Prepaid and other current assets (28) 2 (49)
Trade accounts payable 440 135 196
Accrued expenses 191 197 77
Income taxes receivable and payable (359) (68) (47)
Contribution to Company-sponsored pension plans (5) — (100)
Other (109) (22) (15)
Net cash provided by operating activities 4,833 4,163 3,573
Cash Flows From Investing Activities:
Payments for property and equipment, including payments for lease buyouts (3,349) (2,831) (2,330)
Proceeds from sale of assets 45 37 24
Payments for mergers (168) (252) (2,344)
Other (98) (14) (121)
Net cash used by investing activities (3,570) (3,060) (4,771)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt 1,181 576 3,548
Payments on long-term debt (1,245) (375) (1,060)
Net (payments) borrowings on commercial paper (285) 25 (395)
Dividends paid (385) (338) (319)
Excess tax benefits on stock based awards 97 52 32
Proceeds from issuance of capital stock 120 110 196
Treasury stock purchases (703) (1,283) (609)
Investment in the remaining equity of a noncontrolling interest (26) — —
Other (8) (3) (32)
Net cash provided (used) by financing activities (1,254) (1,236) 1,361
Net increase (decrease) in cash and temporary cash investments 9 (133) 163
Cash and temporary cash investments:
Beginning of year 268 401 238
End of year $ 277 $ 268 $ 401
Reconciliation of capital investments:
Payments for property and equipment, including payments for lease buyouts $(3,349) $(2,831) $(2,330)
Payments for lease buyouts 35 135 108
Changes in construction-in-progress payables (35) (56) (83)
Total capital investments, excluding lease buyouts $(3,349) $(2,752) $(2,305)
Disclosure of cash flow information:
Cash paid during the year for interest $ 474 $ 477 $ 401
Cash paid during the year for income taxes $ 1,001 $ 941 $ 679
The accompanying notes are an integral part of the consolidated financial statements.