Kroger 2014 Annual Report Download - page 98

A-33
THE KROGER CO.
CO N S O L I D A T E D S T A T E M E N T S O F C A S H F L O W S
Years Ended January 31, 2015, February 1, 2014 and February 2, 2013
(In millions)
2014
(52 weeks)
2013
(52 weeks)
2012
(53 weeks)
Cash Flows From Operating Activities:
Net earnings including noncontrolling interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,747 $ 1,531 $ 1,508
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,948 1,703 1,652
Asset impairment charge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 39 18
LIFO charge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 52 55
Stock-based employee compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 155 107 82
Expense for Company-sponsored pension plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 74 89
Deferred income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 72 176
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 47 23
Changes in operating assets and liabilities net of effects from acquisitions
of businesses:
Store deposits in-transit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (27) 25 (169)
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (147) (131) (78)
Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (141) (8) (126)
Prepaid and other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 (49) (257)
Trade accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 196 188
Accrued expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 77 67
Income taxes receivable and payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (68) (47) 164
Contribution to Company-sponsored pension plans . . . . . . . . . . . . . . . . . . . . . . . . . — (100) (71)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (22) (15) (367)
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,163 3,573 2,954
Cash Flows From Investing Activities:
Payments for property and equipment, including payments for lease buyouts . . . . . . . . . (2,831) (2,330) (2,062)
Proceeds from sale of assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 24 49
Payments for acquisitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (252) (2,344) (122)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (14) (121) (48)
Net cash used by investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3,060) (4,771) (2,183)
Cash Flows From Financing Activities:
Proceeds from issuance of long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 576 3,548 863
Payments on long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (375) (1,060) (1,445)
Net borrowings (payments) of commercial paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 (395) 1,275
Proceeds from issuance of capital stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 196 110
Treasury stock purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,283) (609) (1,261)
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (338) (319) (267)
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 — 4
Net cash provided (used) by financing activities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,236) 1,361 (721)
Net increase (decrease) in cash and temporary cash investments. . . . . . . . . . . . . . . . . . . . . . . (133) 163 50
Cash and temporary cash investments:
Beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 401 238 188
End of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 268 $401 $ 238
Reconciliation of capital investments:
Payments for property and equipment, including payments for lease buyouts . . . . . . . . . . . $(2,831) $(2,330) $(2,062)
Payments for lease buyouts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 108 73
Changes in construction-in-progress payables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (56) (83) (1)
Total capital investments, excluding lease buyouts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(2,752) $(2,305) $(1,990)
Disclosure of cash flow information:
Cash paid during the year for interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 477 $ 401 $ 438
Cash paid during the year for income taxes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 941 $ 679 $ 468
The accompanying notes are an integral part of the consolidated financial statements.