Sears 2015 Annual Report Download - page 118

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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
€
SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
118