Walmart 1999 Annual Report Download - page 29

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29
(Amounts in millions)
Fiscal years ended January 31, 1999 1998 1997
Cash flows from operating activities
Net Income $ 4,430 $ 3,526 $ 3,056
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 1,872 1,634 1,463
Increase in accounts receivable (148) (78) (58)
(Increase)/decrease in inventories (379) (365) 99
Increase in accounts payable 1,108 1,048 1,208
Increase in accrued liabilities 1,259 1,329 430
Deferred income taxes (640) 20 (180)
Other 78 9(88)
Net cash provided by operating activities 7,580 7,123 5,930
Cash flows from investing activities
Payments for property, plant and equipment (3,734) (2,636) (2,643)
Proceeds from sale of photo finishing plants – – 464
Acquisitions (855) (1,865) –
Other investing activities 171 80 111
Net cash used in investing activities (4,418) (4,421) (2,068)
Cash flows from financing activities
Decrease in commercial paper – – (2,458)
Proceeds from issuance of long-term debt 536 547 –
Net proceeds from formation of Real Estate
Investment Trust – – 632
Purchase of Company stock (1,202) (1,569) (208)
Dividends paid (693) (611) (481)
Payment of long-term debt (1,075) (554) (541)
Payment of capital lease obligations (101) (94) (74)
Other financing activities (195) 143 68
Net cash used in financing activities (2,730) (2,138) (3,062)
Net increase in cash and cash equivalents 432 564 800
Cash and cash equivalents at beginning of year 1,447 883 83
Cash and cash equivalents at end of year $ 1,879 $ 1,447 $ 883
Supplemental disclosure of cash flow information
Income tax paid $ 3,458 $ 1,971 $ 1,791
Interest paid 805 796 851
Capital lease obligations incurred 347 309 326
Investment in unconsolidated subsidiary exchanged
in acquisition –226 –
See accompanying notes.
CONSOLIDATED STATEMENTS OF CASH FLOWS