Sears 2011 Annual Report Download - page 107

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
Condensed Consolidating Statement of Cash Flows
For the Year Ended January 29, 2011
millions Parent
Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Net cash provided by (used in) operating
activities—continuing operations ............ $ — $(1,115) $ 1,192 $ — $ 77
Net cash provided by operating activities—
discontinued operations ................... — — 46 — 46
Net cash provided by (used in) operating
activities ............................... — (1,115) 1,238 — 123
Proceeds from sales of property and
investments ............................. — 16 19 — 35
Net decrease (increase) in investments and
restricted cash ........................... — 3 (3) — —
Purchases of property and equipment ........... — (369) (57) — (426)
Net investing with Affiliates .................. — — (288) 288 —
Net cash provided by (used in) investing
activities—continuing operations ............ — (350) (329) 288 (391)
Net cash used in investing activities—
discontinued operations ................... — — (15) — (15)
Net cash provided by (used in) investing
activities ............................... — (350) (344) 288 (406)
Proceeds from debt issuances ................. 1,246 — 107 — 1,353
Repayments of long-term debt ................ — (51) (307) — (358)
Increase in short-term borrowings, primarily 90
days or less ............................. — 35 — — 35
Debt issuance costs ......................... — (18) (10) — (28)
Purchase of Sears Canada shares .............. — (560) (43) — (603)
Sears Canada dividends paid to minority
shareholders ............................ — 639 (708) — (69)
Purchase of treasury stock ................... — (394) — — (394)
Net borrowing with Affiliates ................. (1,106) 2,207 (813) (288) —
Net cash provided by (used in) financing
activities—continuing operations ............ 140 1,858 (1,774) (288) (64)
Net cash provided by (used in) financing
activities—discontinued operations .......... — 15 (46) — (31)
Net cash provided by (used in) financing
activities ............................... 140 1,873 (1,820) (288) (95)
Effect of exchange rate changes on cash and cash
equivalents ............................... — — 57 — 57
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS ..................... 140 408 (869) — (321)
CASH AND CASH EQUIVALENTS, BEGINNING
OF YEAR ................................ — 370 1,310 — 1,680
CASH AND CASH EQUIVALENTS, END OF
YEAR ................................... $ 140 $ 778 $ 441 $ — $1,359
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