Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jul. 29, 2023
Jul. 30, 2022
Cash flows from operating activities:    
Net income $ 499.4 $ 896.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 399.0 382.4
Provision for deferred income taxes 3.8 78.8
Stock-based compensation expense 53.2 66.1
Amortization of debt discount and debt-issuance costs 2.3 2.3
Other non-cash adjustments to net income 37.6 18.8
Changes in operating assets and liabilities:    
Merchandise inventories 120.5 (1,055.3)
Income taxes receivable (22.0) 0.0
Other current assets 18.5 10.0
Other assets 15.9 4.9
Accounts payable (123.8) 127.4
Income taxes payable (48.0) (55.2)
Other current liabilities 35.7 83.5
Other liabilities 4.8 (0.1)
Operating lease right-of-use assets and liabilities, net (4.3) (9.5)
Net cash provided by operating activities 923.8 520.6
Cash flows from investing activities:    
Capital expenditures (775.8) (529.6)
Payments for fixed asset disposition (5.2) (3.8)
Net cash used in investing activities (781.0) (533.4)
Cash flows from financing activities:    
Proceeds from stock issued pursuant to stock-based compensation plans 5.5 4.8
Cash paid for taxes on exercises/vesting of stock-based compensation (27.7) (38.1)
Payments for repurchase of stock (250.0) (250.0)
Net cash used in financing activities (272.2) (283.3)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.9 0.2
Net decrease in cash, cash equivalents and restricted cash (128.5) (295.9)
Cash, cash equivalents and restricted cash at beginning of period 711.3 1,038.3
Cash, cash equivalents and restricted cash at end of period 582.8 742.4
Cash paid for:    
Interest, net of amounts capitalized 64.5 64.3
Income taxes 223.6 253.2
Non-cash transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities 959.7 726.1
Accrued capital expenditures $ 86.3 $ 96.1