Walmart 1998 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 1998 Walmart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 40

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40

29
(Amounts in millions)
Fiscal years ended January 31, 1998 1997 1996
Cash flows from operating activities
Net Income $3,526 $3,056 $ 2,740
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 1,634 1,463 1,304
Increase in accounts receivable (78) (58) (61)
(Increase)/decrease in inventories (365) 99 (1,850)
Increase in accounts payable 1,048 1,208 448
Increase in accrued liabilities 1,329 430 29
Deferred income taxes 20 (180) 76
Other 9(88) (303)
Net cash provided by operating activities 7,123 5,930 2,383
Cash flows from investing activities
Payments for property, plant and equipment (2,636) (2,643) (3,566)
Proceeds from sale of photo finishing plants 464
Acquisitions (1,865)
Other investing activities 80 111 234
Net cash used in investing activities (4,421) (2,068) (3,332)
Cash flows from financing activities
(Decrease)/increase in commercial paper (2,458) 660
Proceeds from issuance of long-term debt 547 1,004
Net proceeds from formation of Real Estate
Investment Trust (REIT) 632
Purchase of Company stock (1,569) (208) (105)
Dividends paid (611) (481) (458)
Payment of long-term debt (554) (541) (126)
Payment of capital lease obligations (94) (74) (81)
Other financing activities 143 68 93
Net cash (used in)/provided by financing activities (2,138) (3,062) 987
Net increase in cash and cash equivalents 564 800 38
Cash and cash equivalents at beginning of year 883 83 45
Cash and cash equivalents at end of year $ 1,447 $883 $ 83
Supplemental disclosure of cash flow information
Income tax paid $ 1,971 $1,791 $ 1,785
Interest paid 796 851 866
Capital lease obligations incurred 309 326 365
Investment in unconsolidated subsidiary exchanged
in acquisition 226
See accompanying notes.
CONSOLIDATED STATEMENTS OF CASH FLOWS