Kohl's 2014 Annual Report Download - page 45

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Table of Contents







Net income  
$ 889
$ 986
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
889
833
Share-based compensation
55
50
Excess tax benefits from share-based compensation 
(3)
(4)
Deferred income taxes
(11)
(79)
Other non-cash expenses, net
43
29
Changes in operating assets and liabilities:
Merchandise inventories
(116)
(523)
Other current and long-term assets 
(19)
(37)
Accounts payable
58
74
Accrued and other long-term liabilities
149
(60)
Income taxes
(50)
(4)
Net cash provided by operating activities 
1,884
1,265

Acquisition of property and equipment 
(643)
(785)
Sales of investments in auction rate securities
1
109
Other
19
16
Net cash used in investing activities 
(623)
(660)

Treasury stock purchases
(799)
(1,284)
Shares withheld for taxes on vested restricted shares 
(13)
(9)
Dividends paid 
(302)
(300)
Proceeds from issuance of debt, net of deferred financing costs
296
347
Proceeds from financing obligations
1
12
Capital lease and financing obligation payments 
(115)
(111)
Proceeds from stock option exercises
102
68
Excess tax benefits from share-based compensation
3
4
Net cash used in financing activities
(827)
(1,273)
Net increase (decrease) in cash and cash equivalents
434
(668)
Cash and cash equivalents at beginning of period
537
1,205
Cash and cash equivalents at end of period  
$ 971
$ 537

Interest paid, net of capitalized interest  
$ 326
$ 318
Income taxes paid
561
654

Property and equipment acquired through capital lease and financing obligations  
$ 121
$ 63
See accompanying Notes to Consolidated Financial Statements
F-6