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GPS » Topics » RECONCILIATION OF EXPECTED MINIMUM NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXPECTED MINIMUM FREE CASH FLOW

This excerpt taken from the GPS 8-K filed Aug 23, 2007.

RECONCILIATION OF EXPECTED MINIMUM NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXPECTED MINIMUM FREE CASH FLOW

 

($ in millions)

   

Expected

52 Weeks Ending

February 2, 2008

  

Expected minimum net cash provided by operating activities

    $ 1,200  

Less: expected purchase of property and equipment

      (700 )
        

Expected minimum 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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