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GPS » Topics » RECONCILIATION OF GAP INC.S EXPECTATION OF AT LEAST $1 BILLION IN FREE CASH FLOW FOR FISCAL 2005 TO GAAP FINANCIAL MEASURES

This excerpt taken from the GPS 8-K filed Aug 18, 2005.

RECONCILIATION OF GAP INC.’S EXPECTATION OF AT LEAST $1 BILLION IN FREE CASH FLOW FOR FISCAL 2005 TO GAAP FINANCIAL MEASURES

 

(In millions)

   

Fifty-Two Weeks

Ending
January 28, 2006

  

Minimum net cash provided by operating activities

    $ 1,625  

Less: Estimated net purchase of property and equipment

      (625 )
    

Free cash flow (a)

    $ 1,000  
    

 

(a) Free cash flow is a non-GAAP measure. We believe free cash flow is an important metric, as it represents a measure of how profitable a company is on a cash basis after the deduction of capital expenses, as most companies 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.

 

(b) For discussion of the restatement relating to the accounting for operating leases with scheduled rent and tenant allowances, see note B of the Consolidated Financial Statements in the company’s Form 10-K for the year ended January 29, 2005.
This excerpt taken from the GPS 8-K filed May 19, 2005.

RECONCILIATION OF GAP INC.’S EXPECTATION OF AT LEAST $1 BILLION IN FREE CASH FLOW FOR FISCAL 2005, 2006, AND 2007 TO GAAP FINANCIAL MEASURES

 

(In millions)

   

Fifty-Two Weeks
Ending

January 28, 2006

  

Minimum net cash provided by operating activities

    $ 1,625  

Less: Estimated net purchase of property and equipment

      (625 )
    

Free cash flow (a)

    $ 1,000  
    

(In millions)

   

Fifty-Three Weeks
Ended

February 3, 2007

  

Minimum net cash provided by operating activities

    $ 1,725  

Less: Estimated net purchase of property and equipment

      (725 )
    

Free cash flow (a)

    $ 1,000  
    

(In millions)

   

Fifty-Two Weeks
Ended

February 2, 2008

  

Minimum net cash provided by operating activities

    $ 1,725  

Less: Estimated net purchase of property and equipment

      (725 )
    

Free cash flow (a)

    $ 1,000  
    
(a) Free cash flow is a non-GAAP measure. We believe free cash flow is an important metric, as it represents a measure of how profitable a company is on a cash basis after the deduction of capital expenses, as most companies 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.
(b) For discussion of the restatement, see note B of the Consolidated Financial Statements in the company’s Form 10-K for the year ended January 29, 2005.
This excerpt taken from the GPS 8-K filed Apr 21, 2005.

RECONCILIATION OF GAP INC.’S EXPECTATION OF AT LEAST $1 BILLION IN FREE CASH FLOW FOR FISCAL 2005, 2006, AND 2007 TO GAAP FINANCIAL MEASURES

 

(In millions)

   

Fifty-Two Weeks
Ended

January 28, 2006

  

Minimum net cash provided by operating activities

    $ 1,625  

Less: Estimated net purchase of property and equipment

      (625 )
    

Free cash flow (a)

    $ 1,000  
    

(In millions)

   

Fifty-Three Weeks
Ended

February 3, 2007

  

Minimum net cash provided by operating activities

    $ 1,725  

Less: Estimated net purchase of property and equipment

      (725 )
    

Free cash flow (a)

    $ 1,000  
    

(In millions)

   

Fifty-Two Weeks
Ended

February 2, 2008

  

Minimum net cash provided by operating activities

    $ 1,725  

Less: Estimated net purchase of property and equipment

      (725 )
    

Free cash flow (a)

    $ 1,000  
    
(a) Free cash flow is a non-GAAP measure. We believe free cash flow is an important metric, as it represents a measure of how profitable a company is on a cash basis after the deduction of capital expenses, as most companies 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.
This excerpt taken from the GPS 8-K filed Feb 24, 2005.

RECONCILIATION OF GAP INC.’S EXPECTATION OF AT LEAST $1 BILLION IN FREE CASH FLOW FOR FISCAL 2005 TO GAAP FINANCIAL MEASURES

 

(In millions)

   

Fifty-Two Weeks
Ending

January 28, 2006

Minimum net cash provided by operating activities

    $ 1,625

Less: Estimated net purchase of property and equipment

      625
    

Free cash flow (a)

    $ 1,000
    
(a)   Free cash flow is a non-GAAP measure. We believe free cash flow is an important metric, as it represents a measure of how profitable a company is on a cash basis after the deduction of capital expenses, as most companies 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 grow this measure is an important driver of value creation.

EXCERPTS ON THIS PAGE:

8-K
Aug 18, 2005
8-K
May 19, 2005
8-K
Apr 21, 2005
8-K
Feb 24, 2005

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