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 Thousands
 3 Months Ended
May 04, 2024
Apr. 29, 2023
Cash flows from operating activities:    
Net income $ 300,100 $ 299,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 234,000 196,400
Provision for deferred income taxes 61,400 3,000
Stock-based compensation expense 29,600 28,300
Impairments 0 800
Other non-cash adjustments to net income 2,500 35,500
Changes in operating assets and liabilities:    
Merchandise inventories 32,400 335,900
Other current assets 2,800 7,900
Other assets (1,500) 1,800
Accounts payable 203,400 (301,800)
Income taxes payable 30,300 86,000
Other current liabilities (175,900) 104,500
Other liabilities 900 5,200
Operating lease right-of-use assets and liabilities, net (21,700) (31,100)
Net cash provided by operating activities 695,700 752,000
Cash flows from investing activities:    
Capital expenditures (472,200) (350,400)
Payments for fixed asset disposition (800) (2,300)
Net cash used in investing activities (473,000) (352,700)
Cash flows from financing activities:    
Proceeds from stock issued pursuant to stock-based compensation plans 3,900 2,900
Cash paid for taxes on exercises/vesting of stock-based compensation (19,500) (27,100)
Payments for repurchase of stock (272,200) (143,400)
Net cash used in financing activities (287,800) (167,600)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (400) (1,000)
Net increase (decrease) in cash, cash equivalents and restricted cash (65,500) 230,700
Cash, cash equivalents and restricted cash at beginning of period 757,200 711,300
Cash, cash equivalents and restricted cash at end of period 691,700 942,000
Cash paid for:    
Interest, net of amounts capitalized 400 400
Income taxes 5,300 5,600
Non-cash transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities 346,800 416,800
Accrued capital expenditures 103,900 68,600
Losses on property, plant and equipment recorded in insurance receivables $ 47,000 $ 0