Sears 2014 Annual Report Download - page 128

Download and view the complete annual report

Please find page 128 of the 2014 Sears annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 143

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143

SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
128
Condensed Consolidating Statement of Cash Flows
For the Year Ended January 31, 2015
millions Parent Guarantor
Subsidiaries
Non-
Guarantor
Subsidiaries Eliminations Consolidated
Net cash provided by (used in) operating
activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 386 $ (2,229) $ 897 $ (441) $ (1,387)
Proceeds from sales of property and investments — 358 66 — 424
Purchases of property and equipment . . . . . . . . . — (229) (41) — (270)
Sears Canada de-consolidation . . . . . . . . . . . . . . — — (207) — (207)
Proceeds from Sears Canada rights offering . . . . 380 — — — 380
Net investing with Affiliates . . . . . . . . . . . . . . . . (1,391) — (720) 2,111 —
Net cash provided by (used in) investing
activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,011) 129 (902) 2,111 327
Proceeds from debt issuances. . . . . . . . . . . . . . . . 625 400 — — 1,025
Repayments of long-term debt. . . . . . . . . . . . . . . — (69) (11) — (80)
Increase in short-term borrowings, primarily 90
days or less. . . . . . . . . . . . . . . . . . . . . . . . . . . . — (1,117) — — (1,117)
Lands' End pre-separation funding . . . . . . . . . . . — 515 — — 515
Separation of Lands' End, Inc. . . . . . . . . . . . . . . . — (31) — — (31)
Debt issuance costs . . . . . . . . . . . . . . . . . . . . . . . — (27) — — (27)
Intercompany dividend. . . . . . . . . . . . . . . . . . . . . — — (441) 441 —
Net borrowing with Affiliates . . . . . . . . . . . . . . . — 2,111 — (2,111) —
Net cash provided by (used in) financing
activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 625 1,782 (452) (1,670) 285
Effect of exchange rate changes on cash and cash
equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — (3) — (3)
NET DECREASE IN CASH AND CASH
EQUIVALENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . — (318) (460) — (778)
CASH AND CASH EQUIVALENTS, BEGINNING
OF YEAR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 537 491 — 1,028
CASH AND CASH EQUIVALENTS, END OF
YEAR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ 219 $ 31 $ — $ 250