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GPS » Topics » RECONCILIATION OF FISCAL YEAR 2007 EXPECTED NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXPECTED FREE CASH FLOW

This excerpt taken from the GPS 8-K filed May 24, 2007.

RECONCILIATION OF FISCAL YEAR 2007 EXPECTED NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXPECTED FREE CASH FLOW

 

($ in millions)

    Expected
52 Weeks Ending
February 2, 2008		  
        

Expected net cash provided by operating activities

    $ 1,200  

Less: Expected purchase of property and equipment

      (700 )
        

Expected free cash flow (b)

    $ 500  
        
(b) Free cash flow is a non-GAAP financial measure. We believe free cash flow is an important metric as it represents a measure of how much cash a company has available after the deduction of capital expenditures and we require regular capital expenditures to build and maintain stores and purchase new equipment to keep the business growing. We use this metric internally, as we believe our sustained ability to increase free cash flow is an important driver of value creation.
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