Consolidated Statements of Oper

Consolidated Statements of Oper

Consolidated Statements of Operations – USD ($) shares in Millions, $ in Millions 12 Months Ended
Feb. 03, 2018 Jan. 28, 2017 Jan. 30, 2016
Income Statement [Abstract]
Sales $ 71,879 $ 69,495 $ 73,785
Cost of sales (a) [1] 51,125 49,145 52,241
Gross margin 20,754 20,350 21,544
Selling, general and administrative expenses 14,248 13,356 14,665
Depreciation and amortization (exclusive of depreciation included in cost of sales) [1] 2,194 2,025 1,969
Gain on sale 0 0 (620)
Earnings from continuing operations before interest expense and income taxes 4,312 4,969 5,530
Net interest expense 666 1,004 607
Earnings from continuing operations before income taxes 3,646 3,965 4,923
Provision for income taxes 718 1,296 1,602
Net earnings from continuing operations 2,928 2,669 3,321
Discontinued operations, net of tax 6 68 42
Net earnings $ 2,934 $ 2,737 $ 3,363
4.1% 3.9% 4.6%
Basic earnings per share
Continuing operations (in dollars per share) $ 5.35 $ 4.62 $ 5.29
Discontinued operations (in dollars per share) 0.01 0.12 0.07
Net earnings/(loss) per share (in dollars per share) 5.36 4.74 5.35
Diluted earnings per share
Continuing operations (in dollars per share) 5.32 4.58 5.25
Discontinued operations (in dollars per share) 0.01 0.12 0.07
Net earnings/(loss) per share (in dollars per share) $ 5.33 $ 4.70 $ 5.31
Weighted average common shares outstanding
Basic (in shares) 546.8 577.6 627.7
Dilutive effect of share-based awards (in shares) 3.5 4.9 5.2
Diluted (in shares) 550.3 582.5 632.9
Antidilutive shares (in shares) 4.1 0.1 0
Dividends declared per share (in dollars per share) $ 2.46 $ 2.36 $ 2.20

Consolidated Statements of Fina

Consolidated Statements of Financial Position – USD ($) $ in Millions Feb. 03, 2018 Jan. 28, 2017
Assets
Cash and cash equivalents $ 2,643 $ 2,512
Inventory 8,657 8,309
Inventory as % of Total Assets 22.2% 22.2%
Other current assets 1,264 1,169
Total current assets 12,564 11,990
Property and equipment
Land 6,095 6,106
Buildings and improvements 28,396 27,611
Fixtures and equipment 5,623 5,503
Computer hardware and software 2,645 2,651
Construction-in-progress 440 200
Total Property and Equipment Cost 43,199 42,071
Accumulated depreciation (18,181) (17,413)
Property and equipment, net 25,018 24,658
P&E as % of Total Assets 64.2% 65.9%
Other noncurrent assets 1,417 783
Total assets 38,999 37,431
Liabilities and shareholders’ investment
Accounts payable 8,677 7,252
Accrued and other current liabilities 4,254 3,737
Current portion of long-term debt and other borrowings 270 1,718
Total current liabilities 13,201 12,707
Long-term debt and other borrowings 11,317 11,031
Deferred income taxes 713 861
Other noncurrent liabilities 2,059 1,879
Total noncurrent liabilities 14,089 13,771
Shareholders’ investment
Common stock 45 46
Additional paid-in capital 5,858 5,661
Retained earnings 6,553 5,884
Accumulated other comprehensive loss (747) (638)
Total shareholders’ investment 11,709 10,953
Total liabilities and shareholders’ investment $ 38,999 $ 37,431
Common Stock Authorized 6,000,000,000 shares, $0.0833 par value; 541,681,670 shares issued and
outstanding at February 3, 2018; 556,156,228 shares issued and outstanding at January 28, 2017.
Preferred Stock Authorized 5,000,000 shares, $0.01 par value; no shares were issued or outstanding
at February 3, 2018 or January 28, 2017.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows – USD ($) $ in Millions 12 Months Ended
Feb. 03, 2018 Jan. 28, 2017 Jan. 30, 2016
Operating activities
Net earnings $ 2,934 $ 2,737 $ 3,363
Earnings from discontinued operations, net of tax 6 68 42
Net earnings from continuing operations 2,928 2,669 3,321
Adjustments to reconcile net earnings to cash provided by operations:
Depreciation and amortization 2,445 2,298 2,213
Share-based compensation expense 112 113 115
Deferred income taxes (192) 41 (322)
Gain on sale 0 0 (620)
Loss on debt extinguishment 123 422 0
Noncash (gains) / losses and other, net 192 (21) 57
Changes in operating accounts:
Inventory (348) 293 (316)
Other assets 168 (30) (221)
Accounts payable 1,307 (166) (362)
Accrued and other liabilities 450 (350) 947
Cash provided by operating activities—continuing operations 6,849 5,329 5,254
Cash provided by operating activities—discontinued operations 74 107 704
Cash provided by operations 6,923 5,436 5,958
Investing activities
Expenditures for property and equipment (2,533) (1,547) (1,438)
Proceeds from disposal of property and equipment 31 46 28
Proceeds from sale of businesses 0 0 1,875
Cash paid for acquisitions, net of cash assumed (518) 0 0
Other investments (55) 28 24
Cash (required for) / provided by investing activities—continuing operations (3,075) (1,473) 489
Cash provided by investing activities—discontinued operations 0 0 19
Cash (required for) / provided by investing activities (3,075) (1,473) 508
Financing activities
Additions to long-term debt 739 1,977 0
Reductions of long-term debt (2,180) (2,641) (85)
Dividends paid (1,338) (1,348) (1,362)
Repurchase of stock (1,046) (3,706) (3,483)
Stock option exercises 108 221 300
Cash required for financing activities (3,717) (5,497) (4,630)
Net increase / (decrease) in cash and cash equivalents 131 (1,534) 1,836
Cash and cash equivalents at beginning of period 2,512 4,046 2,210
Cash and cash equivalents at end of period 2,643 2,512 4,046
Supplemental information
Interest paid, net of capitalized interest 678 999 604
Income taxes paid / (refunded) 934 1,514 (127)
Property and equipment acquired through capital lease obligations $ 173 $ 238 $ 126

Consolidated Statements of Shar

Consolidated Statements of Shareholders’ Investment – USD ($) $ in Millions 12 Months Ended
Feb. 03, 2018 Jan. 28, 2017 Jan. 30, 2016
Increase (Decrease) in Stockholders’ Equity
Beginning balance (in shares) 556,156,228
Beginning balance $ 10,953 $ 12,957 $ 13,997
Net earnings / (loss) 2,934 2,737 3,363
Other comprehensive income / (loss) 8 (9) (30)
Dividends declared $ (1,356) $ (1,359) $ (1,378)
Repurchase of stock (in shares) (17,600,000) (50,900,000) (44,700,000)
Repurchase of stock $ (1,027) $ (3,686) $ (3,445)
Stock options and awards 197 313 450
Ending balance $ 11,709 $ 10,953 $ 12,957
Ending balance (in shares) 541,681,670 556,156,228
Common Stock
Increase (Decrease) in Stockholders’ Equity
Beginning balance (in shares) 556,200,000 602,200,000 640,200,000
Beginning balance $ 46 $ 50 $ 53
Repurchase of stock (in shares) (17,600,000) (50,900,000) (44,700,000)
Repurchase of stock $ (1) $ (4) $ (4)
Stock options and awards (in shares) 3,100,000 4,900,000 6,700,000
Stock options and awards $ 0 $ 0 $ 1
Ending balance $ 45 $ 46 $ 50
Ending balance (in shares) 541,700,000 556,200,000 602,200,000
Additional Paid-in Capital
Increase (Decrease) in Stockholders’ Equity
Beginning balance $ 5,661 $ 5,348 $ 4,899
Stock options and awards 197 313 449
Ending balance 5,858 5,661 5,348
Retained Earnings
Increase (Decrease) in Stockholders’ Equity
Beginning balance 5,884 8,188 9,644
Net earnings / (loss) 2,934 2,737 3,363
Dividends declared (1,356) (1,359) (1,378)
Repurchase of stock (1,026) (3,682) (3,441)
Reclassification of tax effects to Retained Earnings [1] 117
Ending balance 6,553 5,884 8,188
Accumulated Other Comprehensive (Loss) / Income
Increase (Decrease) in Stockholders’ Equity
Beginning balance (638) (629) (599)
Other comprehensive income / (loss) 8 (9) (30)
Reclassification of tax effects to Retained Earnings [1] (117)
Ending balance $ (747) $ (638) $ (629)

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