Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Feb. 01, 2020
Feb. 02, 2019
Feb. 03, 2018
Operating activities      
Net income $ 705,945 $ 658,559 $ 555,234
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 295,599 279,472 252,713
Non-cash lease expense 278,820    
Deferred income taxes 5,503 34,080 (27,095)
Stock-based compensation expense 25,045 26,636 24,399
Loss on disposal of property and equipment 5,850 2,885 7,518
Change in operating assets and liabilities      
Receivables (20,637) (36,387) (11,088)
Merchandise inventories (79,372) (122,019) (152,449)
Prepaid expenses and other current assets 9,289 (39,450) (10,045)
Income taxes 610 (29,609) 3,641
Accounts payable 9,993 78,256 66,240
Accrued liabilities 28,183 29,265 (30,695)
Deferred revenue 38,481 50,684 67,586
Operating lease liabilities (256,910)    
Deferred rent   27,064 41,725
Other assets and liabilities 54,894 (3,309) (8,318)
Net cash provided by operating activities 1,101,293 956,127 779,366
Investing activities      
Purchases of short-term investments (110,000) (386,193) (330,000)
Proceeds from short-term investments   506,193 240,000
Capital expenditures (298,534) (319,400) (440,714)
Acquisitions, net of cash acquired   (13,606)  
Purchases of equity investments (62,946) (2,101)  
Net cash used in investing activities (471,480) (215,107) (530,714)
Financing activities      
Repurchase of common shares (680,979) (616,194) (367,581)
Stock options exercised 43,780 13,121 16,190
Purchase of treasury shares (9,540) (6,141) (4,243)
Debt issuance costs     (583)
Net cash used in financing activities (646,739) (609,214) (356,217)
Net increase (decrease) in cash and cash equivalents (16,926) 131,806 (107,565)
Cash and cash equivalents at beginning of year 409,251 277,445 385,010
Cash and cash equivalents at end of year 392,325 409,251 277,445
Supplemental information      
Income taxes paid, net of refunds 133,861 195,869 254,619
Non-cash capital expenditures $ 26,901 $ 28,746 $ 43,471