trend in the net cash used in investing activities. Is it increasing, decreasing, or holding steady? Can you tell why this trend is occurring?Describe the trend in the net cash used in (provided by) financing activities. Is it increasing, decreasing, or holding steady? Can you tell why this trend is occurring? STAPLES, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (Dollar Amounts in Millions) 470 1 Fiscal Year Ended January 28, 2017 January 30, 2016 January 31, 2015 Operating Activities: Net (loss) income $11.497 $379 $135 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation 378 389 405 Amortization of intangibles 58 67 62 Loss (gain) on sale of businesses and assets, net 168 5 27 Interest and fees paid from restricted cash account, net 66 Impairment of goodwill and long-lived assets 1.700 50 Inventory write-downs related to restructuring activities 26 Stock-based compensation 61 63 Excess tax benefits from stock based compensation arrangements (5) (1) Deferred income tax expense benefit) 57 28 (49) Other 19 11 12 Changes in assets and abilities: Decrease increase) in receivables 21 (19) (184) Decrease in merchandise inventories 63 18 62 Decrease increase) in prepaid expenses and other assets 34 (41) 138 Increase (decrease) in accounts payable 4 63 (59) Decrease) increase in accrued expenses and other liabilities (140) 110 (Decrease) increase in other long-term obligations (58) (140) 13 Net cash provided by operating activities 934 978 1,043 24 (381) 27 2 (361) 5 59 Investing Activities: Acquisition of property and equipment Proceeds from the sale of property and equipment Sale of businesses, net Increase in restricted cash Acquisition of businesses, net of cash acquired Cost method investments Net cash used in investing activities (255) 14 55 166 (44) (15) (311) (22) 78 (374) (375 41 7 187 49 23 50 (307 1 Financing Activities: Proceeds from the exercise of stock options and sale of stock under employee stock purchase plans 30 Proceeds from borrowings Payments on borrowings, including payment of deferred financing fees and capital lease obligations (211) Cash dividends paid (311) Excess tax benefits from stock-based compensation arrangements Repurchase of common stock (13) Net cash used in financing activities (318) Effect of exchange rate changes on cash and cash equivalents 7 Net increase in cash and cash equivalents 312 Cash and cash equivalents at beginning of period 825 Cash and cash equivalents at end of period 1.137 Add: Cash and cash equivalents attributed to disposal group held for sale at February 1, 2014 Cash and cash equivalents at the end of the period $1,137 See notes to consolidated financial statements. (99) (308 5 (24) (378 (28) 198 627 (208) (493 127 492 619 825 $825 $627