Foot Locker 2013 Annual Report Download - page 61

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Foot Locker, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
2013 2012 2011
(in millions)
From Operating Activities
Net income $ 429 $ 397 $ 278
Adjustments to reconcile net income to net cash provided by operating
activities:
Non-cash impairment charges —12 5
Depreciation and amortization 133 118 110
Share-based compensation expense 25 20 18
Deferred tax provision 19 20 29
Qualified pension plan contributions (2) (26) (28)
Excess tax benefits on share-based compensation (8) (9) (5)
Change in assets and liabilities:
Merchandise inventories (20) (91) (17)
Accounts payable (48) 57 19
Accrued and other liabilities (10) (4) 38
Income tax receivables and payables 38 (34) 24
Other, net (26) (44) 26
Net cash provided by operating activities 530 416 497
From Investing Activities
Gain from lease terminations 2—2
Gain from insurance recoveries ——1
Purchases of short-term investments (23) (88) —
Sales and maturities of short-term investments 60 39 —
Purchase of business, net of cash acquired (81) ——
Capital expenditures (206) (163) (152)
Net cash used in investing activities (248) (212) (149)
From Financing Activities
Reduction in long-term debt and obligations under capital leases (1) (2) —
Dividends paid on common stock (118) (109) (101)
Issuance of common stock 27 43 18
Purchase of treasury shares (229) (129) (104)
Treasury stock reissued under employee stock plan 354
Excess tax benefits on share-based compensation 911 5
Net cash used in financing activities (309) (181) (178)
Effect of Exchange Rate Fluctuations on Cash and
Cash Equivalents 5 6 (15)
Net Change in Cash and Cash Equivalents (22) 29 155
Cash and Cash Equivalents at Beginning of Year 880 851 696
Cash and Cash Equivalents at End of Year $ 858 $ 880 $ 851
Cash Paid During the Year:
Interest $11 $11 $12
Income taxes $ 175 $230 $ 143
See Accompanying Notes to Consolidated Financial Statements.
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