Banana Republic 2014 Annual Report Download - page 38

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26
The following table reconciles free cash flow, a non-GAAP financial measure, from a GAAP financial measure.
Fiscal Year
($ in millions) 2014 2013 2012
Net cash provided by operating activities $ 2,129 $ 1,705 $ 1,936
Less: Purchases of property and equipment (714) (670) (659)
Free cash flow $ 1,415 $ 1,035 $ 1,277
Long-Term Debt and Credit Facilities
Certain financial information about the Company's long-term debt and credit facilities is set forth under the
headings "Long-Term Debt" and "Credit Facilities" in Notes 5 and 6, respectively, of Notes to Consolidated
Financial Statements included in Part II, Item 8 of this Form 10-K.
Dividend Policy
In determining whether and at what level to declare a dividend, we consider a number of factors including
sustainability, operating performance, liquidity, and market conditions.
We increased our annual dividend from $0.80 per share as of the end of fiscal 2013 to $0.88 per share for fiscal
2014. We intend to increase our annual dividend to $0.92 per share for fiscal 2015.
Share Repurchases
Certain financial information about the Company's share repurchases is set forth under the heading "Share
Repurchases" in Note 9 of Notes to Consolidated Financial Statements included in Part II, Item 8 of this Form 10-
K.