Walmart 2016 Annual Report Download - page 41

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39Only Walmart
Fiscal Years Ended January 31,
(Amounts in millions) 2016 2015 2014
Cash flows from operating activities:
Consolidated net income $ 15,080 $ 17,099 $ 16,695
Income from discontinued operations, net of income taxes — (285) (144)
Income from continuing operations 15,080 16,814 16,551
Adjustments to reconcile income from continuing operations to net cash
provided by operating activities:
Depreciation and amortization 9,454 9,173 8,870
Deferred income taxes (672) (503) (279)
Other operating activities 1,410 785 938
Changes in certain assets and liabilities, net of effects of acquisitions:
Receivables, net (19) (569) (566)
Inventories (703) (1,229) (1,667)
Accounts payable 2,008 2,678 531
Accrued liabilities 1,303 1,249 103
Accrued income taxes (472) 166 (1,224)
Net cash provided by operating activities 27,389 28,564 23,257
Cash flows from investing activities:
Payments for property and equipment (11,477) (12,174) (13,115)
Proceeds from disposal of property and equipment 635 570 727
Proceeds from disposal of certain operations 246 671 —
Other investing activities (79) (192) (138)
Net cash used in investing activities (10,675) (11,125) (12,526)
Cash flows from financing activities:
Net change in short-term borrowings 1,235 (6,288) 911
Proceeds from issuance of long-term debt 39 5,174 7,072
Payments of long-term debt (4,432) (3,904) (4,968)
Dividends paid (6,294) (6,185) (6,139)
Purchase of Company stock (4,112) (1,015) (6,683)
Dividends paid to noncontrolling interest (719) (600) (426)
Purchase of noncontrolling interest (1,326) (1,844) (296)
Other financing activities (513) (409) (260)
Net cash used in financing activities (16,122) (15,071) (10,789)
Effect of exchange rates on cash and cash equivalents (1,022) (514) (442)
Net increase (decrease) in cash and cash equivalents (430) 1,854 (500)
Cash and cash equivalents at beginning of year 9,135 7,281 7,781
Cash and cash equivalents at end of period $ 8,705 $ 9,135 $ 7,281
Supplemental disclosure of cash flow information:
Income taxes paid 8,111 8,169 8,641
Interest paid 2,540 2,433 2,362
See accompanying notes.
Consolidated Statements of Cash Flows