Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Aug. 02, 2025
Aug. 03, 2024
Cash flows from operating activities:    
Net income $ 531.8 $ 432.5
Income (loss) from discontinued operations, net of tax 62.8 22.5
Income from continuing operations 469.0 410.0
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:    
Depreciation and amortization 313.1 241.6
Provision for deferred income taxes 158.7 31.1
Stock-based compensation expense 31.6 46.9
Impairments 0.1 0.2
Gain on insurance proceeds related to fixed assets (41.0) 0.0
Other non-cash adjustments to income from continuing operations 14.6 (1.0)
Changes in operating assets and liabilities:    
Merchandise inventories (7.4) (103.3)
Income taxes receivable (18.0) 0.0
Other current assets 52.7 24.3
Other assets 17.3 33.7
Accounts payable (114.0) 179.2
Income taxes payable (121.0) (13.4)
Other current liabilities 41.1 8.8
Other liabilities 15.5 6.2
Operating lease right-of-use assets and liabilities, net (33.1) (10.6)
Net cash provided by operating activities of continuing operations 639.2 737.7
Cash flows from investing activities:    
Capital expenditures (493.9) (664.3)
Proceeds from sale of discontinued operations 668.0 0.0
Cash divested from sale of discontinued operations (246.0) 0.0
Proceeds from insurance recoveries 50.0 25.8
Proceeds from (payments for) fixed asset disposition 0.7 (0.4)
Net cash used in investing activities of continuing operations (21.2) (638.9)
Cash flows from financing activities:    
Principal payments for long-term debt (1,000.0) 0.0
Debt-issuance costs (3.8) 0.0
Proceeds from commercial paper notes 3,692.9 2,307.2
Repayments of commercial paper notes (3,393.7) (2,057.5)
Proceeds from stock issued pursuant to stock-based compensation plans 4.9 5.7
Cash paid for taxes on exercises/vesting of stock-based compensation (12.1) (20.3)
Payments for repurchase of stock (924.2) (400.0)
Net cash used in financing activities (1,636.0) (164.9)
Cash flows from discontinued operations:    
Net cash provided by operating activities of discontinued operations 343.3 264.9
Net cash used in investing activities of discontinued operations (79.8) (311.1)
Net cash provided by (used in) discontinued operations 263.5 (46.2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 0.6 (0.5)
Net change in cash, cash equivalents and restricted cash (753.9) (112.8)
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 757.3 644.4
Cash paid for:    
Interest, net of amounts capitalized [1] 71.3 67.1
Income taxes [1] 144.1 115.6
Non-cash transactions:    
Right-of-use assets obtained in exchange for new operating lease liabilities [1] 780.1 953.5
Accrued capital expenditures [1] 40.6 78.7
Losses on property, plant and equipment recorded in insurance receivables [1] $ 0.0 $ 20.9
[1]
(1) Supplemental disclosures are inclusive of activity for both continuing and discontinued operations.