Find the most recent annual report for the following companies: Costco (2019), Walmart (2020), Home Depot (2019), and Nordstroms (2019). The easiest way to do this is to go to the company website and find the link for investo relations (usually found at the bottom of the website under about us, company, investor relations, etc.). Another approach would be to Google each of the company's annual reports (example: Costco Annual Report 2019). If you have any trouble finding the annual reports, contact your instructor and he will help you. Find the Consolidated Financial Statements for each company and do the following: When you post, show your computations and answers for each company as a separate paragraph. 1. Compute inventory turnover ratio for the most current year. Be sure to Show Your Work! Round to one decimal place. 2. Compute the number of days' sales in inventory for the most current year. Show your work! Round to one decimal place. 3. Compute Gross Profit and Gross Profit as a percentage of Sales (total revenues) for the most current year. Show your work and round to one decimal place. 4. Read about inventories in the summary of significant accounting policies (the first note after the financial statements) and briefly explain what you have found. Highlight one similarity and one difference. 5. In a separate paragraph, comment on any significant differences and/or similarities you see in the ratios you've computed. What would account for the differences? Why would one company have a higher or lower number? Explain. This should be your last paragraph. September 2, 2018 $ 6,055 1,204 1,669 11,040 321 20,289 COSTCO WHOLESALE CORPORATION CONSOLIDATED BALANCE SHEETS (amounts in millions, except par value and share data) September 1, 2019 ASSETS CURRENT ASSETS Cash and cash equivalents 8,384 Short-term investments 1,060 Receivables, net 1,535 Merchandise inventories 11,395 Other current assets 1.111 Total current assets 23,485 PROPERTY AND EQUIPMENT Land 6,417 Buildings and improvements 17,136 Equipment and foxtures 7,801 Construction in progress 1,272 32,626 Less accumulated depreciation and amortization (11,736) Net property and equipment 20,890 OTHER ASSETS 1,025 TOTAL ASSETS 45,400 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable 11,679 Accrued salaries and benefits 3,176 Accrued member rewards 1.180 Deferred membership fees 1,711 Current portion of long-term debt 1.690 Other current liabilities 3,792 Total current liabilities 23.237 LONG-TERM DEBT, excluding current portion 5,124 OTHER LIABILITIES 1,455 Total Babies 29,816 COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.01 par value: 100,000,000 shares authorized no shares issued and outstanding 0 Common stock $0.01 par value: 900,000,000 shares authorized 439.625,000 and 438,189,000 shares issued and outstanding 4 Additional paid in capital 8,417 Rocumulated other comprehensive loss (1.436) Retained cering 10.258 Total Cosio stockholders' equity 15,243 Noncontrolling interests 341 Total equity 15 584 TOTAL LIABILITIES AND EQUITY 45.400 6,193 16,107 7,274 1.140 30.714 (11,033) 19,681 860 40.830 $ $ 11,237 2,994 1.053 1,624 90 2,924 19,926 6,487 1,314 27.727 0 6, 107 (1.190) 7,887 12.799 304 13.103 40,830 The accompanying notes are an integral part of these consolidated financial statements COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME (amounts in millions, except per share data) 52 Weeks Ended 52 Weeks Ended 53 Weeks Ended September 1, September 2, September 3, 2019 2018 2017 REVENUE Net sales $ 149,351 $ 138,434 $ 126,172 Membership fees 3,352 3.142 2,853 Total revenue 152,703 141,576 129,025 OPERATING EXPENSES Merchandise costs 132,886 123,152 111.882 Selling, general and administrative 14.994 13,876 12,950 Preopening expenses 86 68 82 Operating income 4.737 4,480 4,111 OTHER INCOME (EXPENSE) Interest expense (150) (159) (134) Interest income and other, net 178 121 62 INCOME BEFORE INCOME TAXES 4.765 4,442 4,039 Provision for income taxes 1,061 1,263 1,325 Net income including noncontrolling interests.. 3,704 3,179 2,71% Net income attributable to noncontrolling interests. (45) (45) (35) NET INCOME ATTRIBUTABLE TO COSTCO $ 3,659 $ 3,134 5 2,679 NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic $ 8.32 $ 7.15 $ 6.11 Diluted $ 8.26 $ 7.09 $ 6.08 Shares used in calculation (000's) Basic 439.755 438,515 438,437 Diluted 442.923 441.834 440,937 1971 COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (amounts in millions) 52 Weeks Ended September 1, 2019 52 Weeks Ended September 2, 2018 53 Weeks Ended September 3, 2017 $ 3,704 $ 3,179 $ 2,714 98 NET INCOME INCLUDING NONCONTROLLING INTERESTS Foreign-currency translation adjustment and other, net Comprehensive income Less: Comprehensive income attributable to noncontrolling interests COMPREHENSIVE INCOME ATTRIBUTABLE TO COSTCO (245) 3,459 (192) 2,987 2,812 37 38 48 3.422 $ 2,949 2.764 COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF EQUITY (amounts in millions) - 1 1 - - 2017 Common Stock Accumulated Additional Other Total Costco Shares Pald-in Comprehensive Retained Stockholders' Noncontrolling Total (000's) Amount Capital Income Loss) Earnings Equity Interests Equity BALANCE AT AUGUST 28, 2016 437,524 $ 2 $ 5.490 5 (1,099) $ 7.686 5 12.079 5 253 $ 12,332 Not income 2.679 2,679 35 2,714 Foreign currency translation adjustment and other net 85 85 13 98 Stock-based compensation 518 518 518 Release of vested restricted stock units (RSUS), including tax effects 2,673 (165) (165) (165) Conversion of convertible notes... 5 Repurchases of common stock (2.998) (41) (432) (473) Canh dividends deciared and other.. 2 (2) (3.945) (3.945) (3.945) BALANCE AT SEPTEMBER 3, 437,204 4 5,800 (1.014) 5.988 10.778 301 11.079 Net income 3,134 3,134 45 3,179 Foreign-currency translation adjustment and other, net (185) (185) Stock-based compensation 547 547 547 Release of vested RSUS, including tax effects 2,741 (217) (217) Ropurchases of common stock (1.756) (26) (295) (322) Cash dividends declared and other 3 (939) (935) (35) (971) BALANCE AT SEPTEMBER 2 2018 438,189 6,107 (1.199) 7.887 12.799 304 13.103 Net income 3,659 3,659 45 3.704 Foreign currency translation adjustment and other net (237) (237) (245) Stock-based compensation 598 590 5 Release of veste RSUS including taxeles 2.633 (272) (272) Repurchases of common stock (1.097) (16) (231) (247 Cash dividends dodared and other (1.057) (1.05 1.057 BALANCE AT SEPTEMBER 1. 2019 4386955 4 S 5.417 (1.436) 10.2585 15.2435 - 1 C I 1. COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (amounts in millions) 52 Weeks Ended September 1, 2019 52 Weeks Ended September 2 2018 53 Weeks Ended September 3, 2017 $ 3,704 3.179 $ 2,714 1492 595 9 147 1.437 544 (5) 1.370 514 (14) (29) (536) 322 623 6,356 (1.313) 1.561 421 5.774 (894) 2.258 807 6,726 CASH FLOWS FROM OPERATING ACTIVITIES Net Income including noncontrolling interests Adjustments to reconcile net income including noncontrolling interests to net cash provided by operating activities Depreciation and amortization Stock-based compensation Other non-cash operating activities, net Deferred income taxes. Changes in operating assets and liabilities: Merchandise inventories Accounts payable Other operating assets and liabilities, not Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES Purchases of short-term investments Maturities and sales of short-term investments Additions to property and equipment Other investing activities, net. Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Change in bank payments outstanding Proceeds from issuance of long-term debt. Repayments of long-term debt... Tax withholdings on sock-based awards Repurchases of common stock Cash dividend payments Other financing activities, net Netch used in financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS Net change in cash and cash equivalents CASH AND CASH EQUIVALENTS BEGINNING OF YEAR CASH AND CASH EQUIVALENTS END OF YEAR SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Cash paid during the year for (1.094) 1.231 12.998) (1.060) 1.078 12.989) 4 2.947) (1.279) 1.385 12.5017 3 (2.366) 2.885) 210 80 (89) (272) 207 1.038) (9 320) (69) (41) (236) 3.782 2.200) (202) 1409) (3.04) 11 3.218 2.129 1.509 4546 8.055 354 5 4.540 141 $ $ 5 5 204 5 Income SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES Cath widende, but you Walmart Inc. Consolidated Statements of Income Fiscal Years Ended January 31, 2018 2020 2019 $ 519,9265 4,038 523,964 $10,3295 4,076 514 405 495,761 4.582 500.343 394.605 108,791 20 568 385 301 107,147 21,957 373396 106.510 20,437 (Amour in million, repper share data) Revenues Net sales Membership and other income Total revenues Costs and expenses: Cost of sales Operating, selling general and administrative expenses Operating income Interest: Debt Finance, capital lease and financing obligations Interest income Interest, Det Loss on extinguishment of debt Other (gains) and losses Income before income taxes Provision for income taxes Consolidated met Income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart 2,262 1.978 337 (189) 2,410 1,975 371 (217) 2,129 (152) 2,178 3.136 (1.958) 20.116 4,915 15.201 (320 14,881 S 8.365 11.460 4,281 7.179 (509) 15,123 4.600 10.523 (661) $ Net income per common share: Basic net income per common share attributable to Walmart Diluted net income per common share attributable to Walmart 5:22S 5,19 228 5 2.26 3.29 3.28 Weighted average common shares outstanding: Basic Diluted 2.850 2.868 2.929 2,945 2.995 3,010 2.08 2.12 S $ 2.04 Dividends declared per common share See accompanying notes Walmart Inc. Consolidated Statements of Comprehensive Income 3 Fiscal Years Ended January 31, 2020 2019 2018 15,201 $ 7,1795 10.523 (320) (509) (661) 14881 6,670 9,862 (Amounts in millions) Consolidated net income Consolidated net income attributable to noncontrolling interest Consolidated net income attributable to Walmart Other comprehensive income (los), net of income taxes Currency translation and other Net investment hedges Cash flow hedges Minimum pension liability Unrealized gain on available-for-sale securities Other comprehensive income (loss), net of income taxes Other comprehensive (income) loss attributable to noncontrolling interest Other comprehensive Income (less) attributable to Walmart 286 (226) 272 (290) 131 (399) (1,244) 2.540 (405) 407 147 1.501 4,220 (169) 4,051 (1.235) (28) (1.263) (113) 188 75 7,056 13,966 (348) 136188 (830) 13.913 Comprehensive income, net of income taxes Comprehensive income attributable to noncontrolling interest Comprehensive income attributable to Walmart See accompanying notes 67455 Walmart Inc. Consolidated Balance Sheets As of January 31, 2020 2019 7,722 mount in million) ASSETS Current assets: Cath and cash equivalents Receivables, ne Inventories Prepaid expenses and other Total current 9,4655 6,284 44,435 44.269 3,623 61,897 51,805 106,317 105.208 17.424 4.417 Property and equipment, net Operating lease right-of-use sets Finance le right of se, net Property under capital as und financing obligations, net Goodwill Other long-term Total 31,073 16.567 236,4955 7,078 31,181 14232 219.95 LIABILITIES AND EQUITY Current abilities Short-term borrowings Accounts payable Accredibilities Accredincome taxes Longterm debt de within one year Operating lese obligations doe within one year Finance les obligation due within one year Capital and financing eligations de within one year Total current liabilities 5755 46.973 22.295 20 22.159 1.793 311 729 77,790 Lope debe Long term penting lase obligation Long-term finance laste obligation Long term capital and financing obligations Deferenceder 14 16.171 4503 1,931 74 Walmart Inc. Consolidated Statements of Shareholders' Equity 1 1 1 1 496 Accumulated Total Capital in Other Walmart Common Stock Excess of Retained Comprehensive Shareholders' Noncontrolling Total Amounts in million) Shares Amount Par Value Earning Income (Low) Equity Interest Equity Balances of February 1, 2017 3,0485 3055 2,371 589,354 $ (14.232) 5 77,7985 2,737 5 80,515 Consolidated set income 9.862 661 10.523 Other comprehensive income 4,051 4,051 169 4220 (loss), net of income taxes Cash dividends declared (52.04 per share) (6,124) (6,124) Purchase of Company stock (103) (10) (219) (7,975) 10 Cash dividend declared to noncontrolling interest (687) (687) Other 7 (10) 73 Balances as of January 31, 2018 2,952 295 2,648 85.107 (10.181) 77.869 2,953 80.622 Adoption of new accounting standards on February 1 2,361 2018, net of income taxes (1.436) (1) Consolidated net income 6,670 6,670 7,179 Other comprehensive income (Loss),met of income taxes 75 75 (188) (113) Cash dividends declared (52.08 per share) (6,102) (6.102) (6,102) Purchase of Company stock (80) (245) (47) Cash dividend declared to to controlling interest Noncontrolling interest of acquired entity 345 Other 562 (17) 545 3 Balances as of January 31, 2019 2,878 288 2,965 30,75 (115) 72,496 Adoption of new accounting andanden Fry 1, 2019, set of income taxes (266) 3001 Considdet income 15201 Other comprehensive income (los), e of income taxes Cash dividenda dered (6,048) Purchase of Company stock (5) (199) (5.435) Cash dividende der Doncaroling 475) Other 7 481 26 94 414 Balances as allery 31, 3.347 5,90 1 - THE HOME DEPOT, INC CONSOLIDATED BALANCE SHEETS Fabry 1 2920 Fuary Insharee Assets Current Cash and cash equivalent Receivables.net Merchandise inventories Other current assets Total current assets Net property and equipment Operating teaserM-of-use wets Goodwill Other asset Total assets 1.778 1.536 13.025 800 2.133 5 2.100 14,591 1040 19,810 22.770 5,595 2.254 BOT 51,2365 T 539 22.375 2.252 847 44,003 1.330 7.755 1.505 556 1782 Liabilities and Stockholders' Equity Current liabilities Short-term dett Accounts payable Accrued laies and related expenses Sales taxes payable Deferred revenue Income taxes payable Current statiments of long-term debit Current operating laseliabilities Other rundt Total currenties Long-term debit, excluding current installmente Long-term operating slabities Deferred Income taxes Other long term bites Tutales 1056 574 5 7.787 1.494 605 2,116 55 1.839 820 2,677 18.375 28,670 5,068 708 1.535 54352 2811 16,718 26 NOT 491 1,867 45.881 Common stock par 1008, authorized 10,000 shares, issued 1.786 shares shares atbrary2.2000 and 1105 shares at February 2010 February 2.2020 and 1.72 shares at February 2, 2018, standing 1077 Pald-in capital Retained earnings Accumulated other comprehensive loss Treasury to to, 709 February 2, 2020 and 677 sharus at February 3, 2019 Total stockholderit quty Total Babies and stockholders equly B9 11.001 51,729 (739 83 10.373 40.423 (7723 105.10 2.110 (30100 (1) a Fiscal 2018 108,203 $ 71,043 37,160 Fiscal 2017 100,904 66,548 34,356 17,864 1,811 THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF EARNINGS Fiscal In millons, except per share data 2019 Net sales $ 110,225 $ Cost of sales 72,653 Gross profit 37,572 Operating expenses: Selling, general and administrative 19,740 Depreciation and amortization 1,989 Impairment loss Total operating expenses 21,729 Operating income 15,843 Interest and other (income) expense: Interest and investment income (73) Interest expense 1,201 Other Interest and other, net 1,1212 Earnings before provision for income taxes 14,715 Provision for income taxes 3,473 Net earnings 11,242 $ 19,513 1,870 247 21,630 15,530 19,675 14,681 (74) 1,057 (93) 1,051 16 974 14,556 3,435 11.121 $ 983 13,698 5,068 8,630 1,093 10.29 $ 1,137 9.78 1,178 7.33 Basic weighted average common shares Basic earings per share Diluted weighted average common shares Diluted earnings per share 1,097 10.25 $ 1,143 9.73 $ 1,184 7.29 Fiscal 2019 and fiscal 2017 include 52 weeks. Fiscal 2018 includes 53 weeks. See accompanying notes to consolidated financial statements, Fiscal 2017 8,630 THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Fiscal Fiscal In millions 2019 2018 Net earnings $ 11,242 $ 11,121 $ Other comprehensive income (loss): Foreign currency translation adjustments 53 (267) Cash flow hedges, net of tax 8 53 Other 3 Total other comprehensive income (loss) 64 (206) Comprehensive income $ 11,306 $ 10,915 $ 311 (9) 301 8,931 Fiscal 2019 and fiscal 2017 include 52 weeks. Fiscal 2018 includes 53 weeks See accompanying notes to consolidated financial statements. 2019 THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Fiscal Fiscal In millions Common Stock: Balance at beginning of year 89 $ 89 $ Shares issued under employee stock plans Balance at end of year 89 Fiscal 2017 2018 88 1 89 89 Paid-in Capital: Balance at beginning of year Shares issued under employee stock plans Stock-based compensation expense Balance at end of year 10,578 172 251 11,001 10,192 104 282 10,578 9,787 132 273 10,192 35,519 I 46,423 26 11,242 (5,958) (4) 51,729 39,935 75 11.121 (4.704) 8,630 (4.212) (2) 39,935 46,423 (566) (867) Retained Earnings: Balance at beginning of year Cumulative effect of accounting changes Net eamings Cash dividends Other Balance at end of year Accumulated Other Comprehensive Income (Loss): Balance at beginning of year Cumulative effect of accounting changes Foreign currency translation adjustments Cash flow hedges, net of tax Other Balance at end of year Treasury Stock: Balance at beginning of year Repurchases of common stock Balance at end of year Total stockholders' (deficit) equity 2019 and 2017 include 52 wcw 2018 includes 53 weeks See coming notes to consolidated Brands (772) (31) 53 8 3 (739) (267) 53 8 (772) 311 (1) (9) (566) (58,196) (7.000) (65,196) (3.116) $ (48,196) (10,000) (58,196) (1.878) $ (40,194) (8.002) (48.196 1,454 $ Fiscal 2018 Fiscal 2017 11,121 $ 8,630 2,062 273 2,152 282 247 33 (1,244) (257) 743 80 (42) 26 (103) 13,038 139 (84) (10) 352 128 29 92 420 12,031 THE HOME DEPOT, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Fiscal In millions 2019 Cash Flows from Operating Activities: Net earnings 11,242 $ Reconciliation of net earnings to net cash provided by operating activities: Depreciation and amortization 2.296 Stock-based compensation expense 251 Impairment loss Changes in receivables, net (170) Changes in merchandise inventories (593) Changes in other current assets (135) Changes in accounts payable and accrued expenses 68 Changes in deferred revenue 334 Changes in income taxes payable 44 Changes in deferred income taxes 202 Other operating activities 184 Net cash provided by operating activities 13,743 Cash Flows from Investing Activities: Capital expenditures (2,678) Payments for businesses acquired, net Proceeds from sales of property and equipment 37 Other investing activities (12) Net cash used in investing activities (2.653) Cash Flows from Financing Activities: (Repayments of) proceeds from short-term debt, net (365) Proceeds from long-term debt, net of discounts and premiums 3.420 Repayments of long-term debt (1.070) Repurchases of common stock (5.965) Proceeds from sales of common stock 280 Cash dividends (5.958) Other financing activities (176) Net cash used in financing activities (10,834) Change in cash and cash equivalents 236 Effect of exchange rate changes on cash and cash equivalents 119 Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 2.133 $ Supplemental Disclosures Cash paid for income taxes Cash paid for interest, net of interest capitalized 1.112 Non-cash capital expenditures (2.442) (21) (1,897) (374) 33 47 14 (2.416) (2.228) (220) 3,466 (1,209) (9.963) 236 (4.704) (26) (12.420) (1.798) (19) 3.595 1.778 5 850 2,991 (543) (8.000) 255 (4.212) (211) (8.870) 933 124 2,538 3,595 1,778 $ $ 3.220 5 3.774 5 1.035 248 4,732 991 150 136 See accompanying notes de Nerdinanduses 35 2016 $14.498 259 Nordstrom, Inc. Consolidated Statements of Earnings (In millions except per share amounts) Fiscal year Net sales Credit card revenues, net Total revenues Cost of sales and related buying and occupancy costs Seling general and administrative expenses Goodwill impairment Esmings before interest and income taxes Interest expense, net Earnings before income taxes Income tax expense Net earnings 2018 $15,480 380 15,850 (10,155) (4,868) 2017 $15,137 341 15,478 19,890) (4,662 837 (104) 733 (169) $564 926 (136) 790 (353) 5437 14,757 (9,440) (4315) (197) 805 (121) 684 (330) $354 Earings per share Basic Diluted $3.37 $3.32 $262 $259 $2.05 $2.02 1673 170,0 1668 1689 1732 1756 Weighted average shares outstanding Basic Diluted The accompanying Noles to Consolidated Financial Statements are an integral part of these financial statements. Nordstrom, Inc. Consolidated Statements of Comprehensive Earnings (in millions) Fiscal year 2018 5564 Postererent plan adjustments, set of tax of (55). $2 and (51) Foreign contrastonument (17 Comprehensive net earnings $561 The company Noles to Contes Financial Statements are an integral part of these francis statements 14 2017 5437 (5) 20 $451 2016 3354 1 14 Nordstrom, Inc. Consolidated Balance Sheets (In millions) February 2, 2019 February 3, 2018 Assets Current assets Cash and cash equivalents Accounts receivable, net Merchandise inventones Prepaid expenses and other Total current assets $957 148 1.978 291 3,374 $1,181 145 2027 150 3.503 Land property and equipment net Goodwill Other stets Total assets 3,921 249 342 $7,886 3,939 238 435 $8.115 $1,409 380 1.124 Liabilities and Shareholders' Equity Current les Accounts payable Accrued salaries, wages and related benefits Other current habilities Current portion of long-term debt Total current abaties Long term debt, net Deferred property incentives, net Other abilities 55.409 578 1.246 56 3.289 3.381 2,677 457 498 2,681 195 673 Commitments and contingencies (No. 1) Shareholders' equity Common stock now volo 1.000 shores authorized, 1576 and 1670 shares ined and outstanding Accumulated delict Accumulated other comprehensive loon Total and equity Total abilities and shareholders' equity The companying ches to Coraldited Financial Statements are an integral part of these financial statements, 3.048 (2.138) (37) 73 57.100 2,810 11810) 1291 977 38115 Norton, and 37 Nordstrom, Inc. Consolidated Statements of Shareholders' Equity (In milions except per share amounts) Common Stock Shares Amount 1735 $2.539 Accumulated Deficit ($1610) 354 Accumulated Other Comprehensive Loss (558) 15 (256) 21 03 (5.9) 1700 (282) (1.796) 437 (43) 14 Balance at January 30, 2016 Net earnings Other comprehensive earnings Dividends ($148 per share) Issuance of common stock under stock compensation plans Stock-based compensation Repurchase of common stock Balance at January 28, 2017 Netcamings Other comprehensive earnings Dividendo ($1.48 per share Issuance of common stock under stock compensation plans Stock-based compensation Repurchase of common stock Balance at February 3, 2018 Cumdative efect of adopted accounting standards Netings Other comprehensive loss Dividends ($1.48 per share) Incs of common stock under lock compensation plans Stock based compensation Repurchase of common stock Balance at February 2, 2019 (247) Total $871 354 15 (256) 83 85 (282) 870 437 14 (247) 39 70 (206) 977 55 564 (3) (250) 163 69 (702) $873 1.1 0.5 I s IIIIISIIIIII 1670 (205) (1.810) 50 564 (3) (250) 40 09 163 69 (143) 1576 $3.048 (702) (2,138) The companying to Consolidated Financial Statements are an integral part of these francial statements (537) 2018 2017 2016 $564 5437 $354 669 Nordstrom, Inc. Consolidated Statements of Cash Flows (In millions) Fiscal year Operating Activities Net camings Adjustments to reconcile net earings to net cash provided by operating activities Depreciation and amortization expenses Goodwill impairment Amortization of deferred property incentives and other net Deferred income taxes, net Stock-based compensation expense Change in operating assets and abilities: Accounts receivable Proceeds from sale of credit card receivables originated at Nordstrom Merchandise inventories Prepaid expenses and other assets Accounts payable Accrued salaries, wages and related benefits Other current abilities Deferred property incentives Oherbes Netcash provided by operating activities 175) (34) 90 823 11 77 545 197 761 (15) 91 15 (3) 12 1 15 53 (2 1296 1 39 62 (21) 77 121 48 64 31 100 16 38 181 65 34 1.658 1400 Investing Activities Capital expenditures Prooved from sale of credit card cables originated at third parties 1654) 846) (731) 16 31 1653 55 Financing Activities Proceeds from long tamborowings, net of discounts Price person og tembonowing Deci in cash book overras Cash vidends paid Payments formouse of common stock Posto sono stock compensation plans wwg on the based 635 (56) (10) 4 (250) 678) (55) 20 (211) 277 020 5 en cash and cash gives 542 0224 Supplements Cash Flow information 595