Kohl's 2009 Annual Report Download - page 48

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Table of Contents



  

Net income  $885 $1,084
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization, including debt discount and deferred
financing fees  543 453
Share-based compensation expense  55 54
Excess tax benefits from share-based compensation expense   — (6)
Deferred income taxes  84 (12)
Other non-cash revenues and expenses  47 34
Changes in operating assets and liabilities:
Merchandise inventories  60 (275)
Other current and long-term assets  (40) (78)
Accounts payable  48 (98)
Accrued and other long-term liabilities  42 152
Income taxes  (26) (103)
Net cash provided by operating activities  1,698 1,205

Acquisition of property and equipment and favorable lease rights  (1,014) (1,542)
Purchases of investments in auction rate securities   (53) (6,521)
Sales of investments in auction rate securities  93 6,441
Other  11 26
Net cash used in investing activities  (963) (1,596)

Treasury stock purchases  (262) (748)
Capital lease payments  (16) (20)
Proceeds from issuance of debt, net of deferred financing costs   — 989
Proceeds from stock option exercises  5 98
Excess tax benefits from share-based compensation expense  — 6
Net cash provided by (used in) financing activities  (273) 325
Net change in cash and cash equivalents  462 (66)
Cash and cash equivalents at beginning of year  181 247
Cash and cash equivalents at end of year  $643 $ 181
See accompanying Notes to Consolidated Financial Statements
F-6