Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
May 03, 2025
May 04, 2024
Cash flows from operating activities:    
Net income $ 343.4 $ 300.1
Income from discontinued operations, net of tax 29.9 32.4
Income from continuing operations 313.5 267.7
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 151.1 119.0
Provision for deferred income taxes 14.1 20.8
Stock-based compensation expense 17.2 24.0
Impairments 0.1 0.0
Gain on insurance proceeds related to fixed assets (41.0) 0.0
Other non-cash adjustments to income from continuing operations 3.1 0.5
Changes in operating assets and liabilities:    
Merchandise inventories (27.6) (32.5)
Other current assets 18.6 7.0
Other assets (0.7) (1.0)
Accounts payable (135.9) 138.6
Income taxes payable 92.5 62.2
Other current liabilities (13.0) (81.2)
Other liabilities 2.6 (2.1)
Operating lease right-of-use assets and liabilities, net 19.7 (5.8)
Net cash provided by operating activities of continuing operations 378.5 505.2
Cash flows from investing activities:    
Capital expenditures (248.8) (316.5)
Proceeds from insurance recoveries 50.0 0.0
Payments for fixed asset disposition (0.1) (0.2)
Net cash used in investing activities of continuing operations (198.9) (316.7)
Cash flows from financing activities:    
Debt-issuance costs (3.8) 0.0
Proceeds from stock issued pursuant to stock-based compensation plans 2.8 3.9
Cash paid for taxes on exercises/vesting of stock-based compensation (10.7) (19.5)
Payments for repurchase of stock (427.7) (272.2)
Net cash used in financing activities (439.4) (287.8)
Cash flows from discontinued operations:    
Net cash provided by operating activities of discontinued operations 104.5 190.5
Net cash used in investing activities of discontinued operations (45.4) (156.3)
Net cash provided by discontinued operations 59.1 34.2
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.7 (0.4)
Net change in cash, cash equivalents and restricted cash (200.0) (65.5)
Cash, cash equivalents and restricted cash at beginning of period 1,511.2 757.2
Cash, cash equivalents and restricted cash at end of period 1,311.2 691.7
Cash paid for:    
Interest, net of amounts capitalized [1] 0.4 0.4
Income taxes [1] 4.3 5.3
Non-cash transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities [1] 293.6 346.8
Accrued capital expenditures [1] 48.8 103.9
Losses on property, plant and equipment recorded in insurance receivables [1] $ 0.0 $ 47.0
[1]
(1) Supplemental disclosures are inclusive of activity for both continuing and discontinued operations.