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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Aug. 04, 2018
Jul. 29, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (932) $ (5)
Adjustments to reconcile net loss to net cash used in operating activities:    
Deferred tax valuation allowance 0 (200)
Tax benefit resulting from Other Comprehensive Income allocation (27) 0
Depreciation and amortization 133 170
Impairment charges 91 20
Gain on sales of assets (268) (1,121)
Pension and postretirement plan contributions (343) (134)
Pension plan settlements 108 200
Payment for insurance transaction (208) 0
Proceeds from Citibank amendment 425 0
Mark-to-market adjustments of financial instruments 0 17
Amortization of deferred gain on sale-leaseback (34) (40)
Amortization of debt issuance costs and accretion of debt discount 64 62
Non-cash PIK interest 37 0
Other 0 (36)
Change in operating assets and liabilities (net of acquisitions and dispositions):    
Deferred income taxes (8) 99
Merchandise inventories 84 509
Merchandise payables (89) (378)
Income and other taxes (22) (24)
Other operating assets 65 52
Other operating liabilities (112) (329)
Net cash used in operating activities (1,036) (1,138)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of property and investments 322 569
Proceeds from Craftsman Sale 0 572
Proceeds from sales of receivables [1] 0 293
Purchases of property and equipment (32) (41)
Net cash provided by investing activities 290 1,393
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from debt issuances [2] 1,235 330
Repayments of debt [3] (869) (717)
Increase in short-term borrowings, primarily 90 days or less 389 216
Proceeds from sale-leaseback financing 130 89
Debt issuance costs [4] (34) (17)
Net cash provided by (used in) financing activities 851 (99)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 105 156
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH BEGINNING OF YEAR 336 286
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH END OF PERIOD 441 442
Supplemental Cash Flow Data:    
Income taxes paid, net of refunds 12 28
Cash interest paid [5] 223 196
Unpaid liability to acquire equipment and software 10 6
PIK interest included within other operating liabilities $ 11 $ 0
[1] Proceeds in 2017 include $63 million from JPP, LLC and JPP II, LLC, entities affiliated with ESL (as defined in Note 1), for the sale of receivables.
[2] Proceeds in 2018 include $891 million from related parties in connection with the Consolidated Secured Loan Facility, FILO Loan, Mezzanine Loan, Additional Mezzanine Loans, Line of Credit Loans and additional borrowings from the 2017 Secured Loan Facility. Proceeds in 2017 include $245 million from related parties in connection with the Line of Credit Loans. See Notes 2 and 11 for further information.
[3] Repayments in 2018 include $67 million to related parties in connection with the Term Loan Facility, 2017 Secured Loan Facility, Incremental Loans and 2016 Secured Loan Facility. Repayments in 2017 include $183 million to related parties in connection with the 2017 Secured Loan Facility, 2016 Secured Loan Facility and 2016 Term Loan. See Notes 2 and 11 for further information.
[4] Includes fees related to our borrowings of $13 million paid to related parties during the 26 weeks ended August 4, 2018. Includes a one-time extension fee equal to $4 million to JPP, LLC and JPP II, LLC, entities affiliated with ESL (as defined in Note 1) during the 26 weeks ended July 29, 2017. See Note 2 for further information.
[5] Cash interest paid includes $103 million and $82 million interest paid to related parties related to our borrowings during the 26 weeks ended August 4, 2018 and July 29, 2017, respectively. See Notes 2 and 11 for further information.