Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jan. 31, 2015
Feb. 01, 2014
Feb. 02, 2013
Operating activities:      
Net income $ 217us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 243us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 200us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Adjustments:      
Depreciation and amortization 111us-gaap_DepreciationDepletionAndAmortization 106us-gaap_DepreciationDepletionAndAmortization 97us-gaap_DepreciationDepletionAndAmortization
Share-based compensation 19us-gaap_ShareBasedCompensation 34us-gaap_ShareBasedCompensation 21us-gaap_ShareBasedCompensation
Debt issuance costs amortization 10us-gaap_AmortizationOfFinancingCosts 10us-gaap_AmortizationOfFinancingCosts 14us-gaap_AmortizationOfFinancingCosts
Accretion of long-term debt (1)us-gaap_AmortizationOfDebtDiscountPremium (1)us-gaap_AmortizationOfDebtDiscountPremium  
Losses on early extinguishments of debt and refinancing costs 74us-gaap_GainsLossesOnExtinguishmentOfDebt 14us-gaap_GainsLossesOnExtinguishmentOfDebt 33us-gaap_GainsLossesOnExtinguishmentOfDebt
Impairment of intangible assets     8us-gaap_AssetImpairmentCharges
Loss on disposition of property and equipment 4us-gaap_GainLossOnDispositionOfAssets    
Excess tax benefit from share-based compensation (5)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities    
Changes in operating assets and liabilities:      
Merchandise inventories (60)us-gaap_IncreaseDecreaseInInventories (38)us-gaap_IncreaseDecreaseInInventories (21)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other 11us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (8)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (7)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Deferred income taxes 15us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (4)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (2)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Accounts payable 77us-gaap_IncreaseDecreaseInAccountsPayable 102us-gaap_IncreaseDecreaseInAccountsPayable (35)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued interest (46)us-gaap_IncreaseDecreaseInInterestPayableNet 23us-gaap_IncreaseDecreaseInInterestPayableNet (10)us-gaap_IncreaseDecreaseInInterestPayableNet
Accrued liabilities and other 14mik_IncreaseDecreaseInAccruedAndOtherCurrentLiabilities (28)mik_IncreaseDecreaseInAccruedAndOtherCurrentLiabilities (16)mik_IncreaseDecreaseInAccruedAndOtherCurrentLiabilities
Income taxes 1us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable (7)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 18us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Other long-term liabilities   3us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities (1)us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities
Net cash provided by operating activities 441us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 449us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 299us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:      
Additions to property and equipment (138)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (112)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (124)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Financing activities:      
Issuance of PIK Notes   800mik_ProceedsFromPaymentInKindPikNotes  
Payment of PIK notes (627)mik_EarlyRepaymentOfPaymentInKindPikNotes    
Borrowings on Restated Term Loan Credit Facility 846us-gaap_ProceedsFromIssuanceOfSecuredDebt   1,640us-gaap_ProceedsFromIssuanceOfSecuredDebt
Repayments on Restated Term Loan Credit Facility (21)us-gaap_RepaymentsOfSecuredDebt (12)us-gaap_RepaymentsOfSecuredDebt (1,996)us-gaap_RepaymentsOfSecuredDebt
Borrowings on Restated Revolving Credit Facility 23us-gaap_ProceedsFromLinesOfCredit 389us-gaap_ProceedsFromLinesOfCredit 322us-gaap_ProceedsFromLinesOfCredit
Payments on Restated Revolving Credit Facility (23)us-gaap_RepaymentsOfLinesOfCredit (390)us-gaap_RepaymentsOfLinesOfCredit (321)us-gaap_RepaymentsOfLinesOfCredit
Issuance of 2018 Senior Notes     213us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Payment of 2018 Senior Notes (1,057)us-gaap_EarlyRepaymentOfSeniorDebt    
Payments of Subordinated Discount Notes     (315)us-gaap_EarlyRepaymentOfSubordinatedDebt
Payment of 2016 Senior Subordinated Notes   (403)mik_EarlyRepaymentsOfSeniorSubordinatedDebt  
Issuance of 2020 Senior Subordinated Notes 255us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt 260us-gaap_ProceedsFromIssuanceOfSubordinatedLongTermDebt  
Issuance of common stock 446us-gaap_ProceedsFromIssuanceOfCommonStock    
Payment of debt issuance costs (12)us-gaap_PaymentsOfDebtIssuanceCosts (21)us-gaap_PaymentsOfDebtIssuanceCosts (25)us-gaap_PaymentsOfDebtIssuanceCosts
Payments of dividends (1)us-gaap_PaymentsOfDividends (766)us-gaap_PaymentsOfDividends  
Change in cash overdraft (2)us-gaap_IncreaseDecreaseInOutstandingChecksFinancingActivities (5)us-gaap_IncreaseDecreaseInOutstandingChecksFinancingActivities (5)us-gaap_IncreaseDecreaseInOutstandingChecksFinancingActivities
Proceeds from stock options exercised 27us-gaap_ProceedsFromStockOptionsExercised 5us-gaap_ProceedsFromStockOptionsExercised  
Common stock repurchased (21)us-gaap_PaymentsForRepurchaseOfCommonStock (8)us-gaap_PaymentsForRepurchaseOfCommonStock  
Excess tax benefits from share-based compensation 5us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities    
Other financing activities (2)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (3)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (3)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash used in financing activities (164)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (154)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (490)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net change in cash and equivalents 139us-gaap_NetCashProvidedByUsedInContinuingOperations 183us-gaap_NetCashProvidedByUsedInContinuingOperations (315)us-gaap_NetCashProvidedByUsedInContinuingOperations
Cash and equivalents at beginning of period 239us-gaap_CashAndCashEquivalentsAtCarryingValue 56us-gaap_CashAndCashEquivalentsAtCarryingValue 371us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and equivalents at end of period $ 378us-gaap_CashAndCashEquivalentsAtCarryingValue $ 239us-gaap_CashAndCashEquivalentsAtCarryingValue $ 56us-gaap_CashAndCashEquivalentsAtCarryingValue