For the year ending 2026-01-31, GAP had $279M increase in cash & cash equivalents over the period. $823M in free cash flow.
| Cash Flow | 2026-01-31 | 2025-02-01 | 2024-02-03 | 2023-01-28 |
|---|---|---|---|---|
| Net income | 816 | 844 | 502 | -202 |
| Depreciation and amortization | 496 | 500 | 522 | 540 |
| Share-based compensation | 162 | 126 | 80 | 37 |
| Impairment of operating lease assets | - | 0 | 4 | 33 |
| Impairment of store assets | - | 1 | 3 | 18 |
| Impairment of intangible asset | - | - | - | 0 |
| Loss on extinguishment of debt | - | - | 0 | 0 |
| Amortization of debt issuance costs | - | 4 | 4 | 6 |
| Non-cash and other items | -1 | 9 | -28 | 16 |
| Loss on divestiture activity | - | 0 | 0 | - |
| Gain on sale of building | - | 0 | 47 | 83 |
| Deferred income taxes | 69 | 27 | -64 | 42 |
| Merchandise inventory | 129 | 88 | -383 | -554 |
| Other current assets and other long-term assets | 41 | -31 | -179 | -161 |
| Accounts payable | 57 | 137 | 42 | -540 |
| Accrued expenses and other current liabilities | -90 | -25 | 12 | -243 |
| Income taxes payable, net of receivables and other tax-related items | 33 | 46 | 75 | 417 |
| Other long-term liabilities | -9 | -19 | -15 | -45 |
| Operating lease assets and liabilities, net | 72 | 89 | 176 | 107 |
| Net cash provided by operating activities | 1,293 | 1,486 | 1,532 | 607 |
| Purchases of property and equipment | 470 | 447 | 420 | 685 |
| Net proceeds from sale of buildings | - | - | 76 | 458 |
| Proceeds from sale of property, plant, and equipment | 0 | 7 | - | - |
| Purchases of short-term investments | 419 | 409 | 0 | 0 |
| Proceeds from sales and maturities of short-term investments | 289 | 162 | 0 | 0 |
| Payments for acquisition activity, net of cash acquired | - | - | 0 | 0 |
| Proceeds from divestiture activity, net of cash paid | 0 | 0 | 9 | 0 |
| Other | 0 | 5 | -1 | 0 |
| Net cash used for investing activities | -600 | -692 | -334 | -227 |
| Proceeds from revolving credit facility | - | 0 | 0 | 350 |
| Repayments of revolving credit facility | 0 | 0 | 350 | 0 |
| Proceeds from issuance of long-term debt | - | - | 0 | 0 |
| Payments to extinguish debt | - | - | 0 | 0 |
| Payments for debt issuance costs | - | 0 | 0 | 6 |
| Proceeds from issuances under share-based compensation plans | 25 | 32 | 27 | 27 |
| Withholding tax payments related to vesting of stock units | 42 | 50 | 20 | 20 |
| Repurchases of common stock | 155 | 75 | 0 | 123 |
| Cash dividends paid | 247 | 225 | 222 | 220 |
| Proceeds from (payment for) other financing activity | 0 | -3 | -2 | -2 |
| Net cash used for financing activities | -419 | -321 | -567 | 6 |
| Effect of foreign exchange rate fluctuations on cash, cash equivalents, and restricted cash | 5 | -9 | -3 | -15 |
| Net increase in cash, cash equivalents, and restricted cash | 279 | 464 | 628 | 371 |
| Cash, cash equivalents, and restricted cash at beginning of period | 2,365 | 1,901 | 1,273 | 902 |
| Cash, cash equivalents, and restricted cash end of period | 2,644 | 2,365 | 1,901 | 1,273 |
GAP INC (GAP)
GAP INC (GAP)