KOHLS Corp
For the period ended Jan 31, 2026. Filed Mar 19, 2026.
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FY2026 · Filed Mar 19, 2026
KSS$24.75-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| (Dollars in Millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Operating activities | |||
| Net income | $272 | $109 | $317 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 700 | 743 | 749 |
| Share-based compensation | 34 | 30 | 42 |
| Deferred income taxes | 69 | (85) | (8) |
| Impairments, store closing, and other costs | 11 | 36 | — |
| Non-cash lease expense | 87 | 89 | 92 |
| Other non-cash items | (18) | 1 | 6 |
| Changes in operating assets and liabilities: | |||
| Merchandise inventories | 203 | (60) | 315 |
| Other current and long-term assets | 91 | (50) | 11 |
| Accounts payable | 130 | (92) | (196) |
| Accrued and other long-term liabilities | (103) | 20 | (67) |
| Operating lease liabilities | (96) | (93) | (93) |
| Net cash provided by operating activities | 1,380 | 648 | 1,168 |
| Investing activities | |||
| Acquisition of property and equipment | (372) | (466) | (577) |
| Proceeds from sale of property and equipment | 54 | 6 | 26 |
| Other | (15) | (7) | (11) |
| Net cash used in investing activities | (333) | (467) | (562) |
| Financing activities | |||
| Proceeds from issuance of debt, net of discount | 357 | — | — |
| Deferred financing costs | (11) | — | — |
| Net (repayments) borrowings under revolving credit facility | (290) | 198 | 7 |
| Shares withheld for taxes on vested restricted shares | (5) | (10) | (16) |
| Dividends paid | (56) | (222) | (220) |
| Repayment of long-term borrowings | (440) | (113) | (275) |
| Discount (premium paid) on redemption of debt | 11 | (5) | — |
| Finance lease and financing obligation payments | (83) | (79) | (93) |
| Proceeds from financing obligations | 10 | 1 | 21 |
| Net cash used in financing activities | (507) | (230) | (576) |
| Net increase (decrease) in cash and cash equivalents | 540 | (49) | 30 |
| Cash and cash equivalents at beginning of period | 134 | 183 | 153 |
| Cash and cash equivalents at end of period | $674 | $134 | $183 |
| Supplemental information | |||
| Interest paid, net of capitalized interest | $295 | $312 | $331 |
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