Exhibit 99.2
FEDERATED DEPARTMENT STORES, INC.
Consolidated Statements of Cash Flows
(Unaudited)
(millions)
13 Weeks Ended 13 Weeks Ended
April 29, 2000 May 1, 1999
Cash flows from operating activities:
Net income $ 89 $ 87
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization 161 158
Amortization of intangible assets 21 15
Amortization of financing costs 2 1
Amortization of unearned restricted stock 3 -
Changes in assets and liabilities:
Decrease in accounts receivable 284 158
Increase in merchandise inventories (277) (175)
Decrease in supplies and prepaid expenses 13 2
(Increase) decrease in other assets not
separately identified (13) 43
Decrease in accounts payable and accrued
liabilities not separately identified (78) (114)
Decrease in current income taxes (142) (23)
Increase in deferred income taxes 1 1
Decrease in other liabilities not
separately identified (6) (7)
Net cash provided by operating
activities 58 146
Cash flows from investing activities:
Purchase of property and equipment (69) (52)
Capitalized software (15) (6)
Investments in companies (35) (9)
Acquisition of Fingerhut Companies, Inc.,
net of cash acquired - (1,539)
Disposition of property and equipment - 3
Net cash used by investing activities (119) (1,603)
Cash flows from financing activities:
Debt issued 237 1,326
Financing costs - (10)
Debt repaid (1) (1)
Increase in outstanding checks 36 69
Acquisition of treasury stock (218) -
Issuance of common stock 38 5
Net cash provided by financing
activities 92 1,389
(Continued)
FEDERATED DEPARTMENT STORES, INC.
Consolidated Statements of Cash Flows
(Unaudited)
(millions)
13 Weeks Ended 13 Weeks Ended
April 29, 2000 May 1, 1999
Net increase (decrease) in cash 31 (68)
Cash at beginning of period 218 307
Cash at end of period $ 249 $ 239
Supplemental cash flow information:
Interest paid $ 108 $ 73
Interest received 1 3
Income taxes paid (net of refunds received) 210 84
Schedule of noncash investing and financing
activities:
Debt assumed in acquisition - 125
Equity issued in acquisition - 12
