Refer to the financial statements of The Home Depot in Appendix A at the end of this book, or download the annual report from the Cases section in the Connect library.

Required:
1. Which of the two basic reporting approaches for the cash flows from operating activities did The Home Depot use?

a. Direct
b. Indirect

2. What amount of income tax payments did The Home Depot make during the year ended February 2, 2014?

a. $639 million
b. $2,839 million
c. $3,082 million
d. $12 million

3. In the fiscal year ended February 2, 2014, The Home Depot generated $7,628 million from operating activities. Indicate where this cash was spent by listing the two largest cash outflows.

a. Amortization ($1,757 million) and Capital Expenditures ($1,389 million)
b. Share Repurchase ($8,546 million) and Capital Expenditures ($1,389 million)
c. Amortization ($1,757 million) and Share Repurchase ($8,546 million)
d. Dividends ($2,243 million) and Share Repurchase ($8,546 million)

Data From Appendix A: