| Condensed Consolidating Balance Sheet [Table Text Block] |
Condensed Consolidating Balance Sheet
As of May 2, 2020
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
1,160 |
|
|
$ |
25 |
|
|
$ |
338 |
|
|
$ |
— |
|
|
$ |
1,523 |
|
Receivables |
— |
|
|
23 |
|
|
147 |
|
|
— |
|
|
170 |
|
Merchandise inventories |
— |
|
|
2,072 |
|
|
2,851 |
|
|
— |
|
|
4,923 |
|
Income taxes |
— |
|
|
— |
|
|
3 |
|
|
(3 |
) |
|
— |
|
Prepaid expenses and other current assets |
— |
|
|
102 |
|
|
417 |
|
|
— |
|
|
519 |
|
Total Current Assets |
1,160 |
|
|
2,222 |
|
|
3,756 |
|
|
(3 |
) |
|
7,135 |
|
Property and Equipment – net |
— |
|
|
2,978 |
|
|
3,447 |
|
|
— |
|
|
6,425 |
|
Right of Use Assets |
— |
|
|
600 |
|
|
2,072 |
|
|
— |
|
|
2,672 |
|
Goodwill |
— |
|
|
670 |
|
|
168 |
|
|
— |
|
|
838 |
|
Other Intangible Assets – net |
— |
|
|
4 |
|
|
435 |
|
|
— |
|
|
439 |
|
Other Assets |
418 |
|
|
46 |
|
|
608 |
|
|
— |
|
|
1,072 |
|
Deferred Income Taxes |
11 |
|
|
— |
|
|
— |
|
|
(11 |
) |
|
— |
|
Intercompany Receivable |
1,598 |
|
|
— |
|
|
677 |
|
|
(2,275 |
) |
|
— |
|
Investment in Subsidiaries |
— |
|
|
2,010 |
|
|
— |
|
|
(2,010 |
) |
|
— |
|
Total Assets |
$ |
3,187 |
|
|
$ |
8,530 |
|
|
$ |
11,163 |
|
|
$ |
(4,299 |
) |
|
$ |
18,581 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
739 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
739 |
|
Merchandise accounts payable |
— |
|
|
928 |
|
|
1,268 |
|
|
— |
|
|
2,196 |
|
Accounts payable and accrued liabilities |
14 |
|
|
719 |
|
|
2,024 |
|
|
— |
|
|
2,757 |
|
Income taxes |
65 |
|
|
18 |
|
|
— |
|
|
(3 |
) |
|
80 |
|
Total Current Liabilities |
79 |
|
|
2,404 |
|
|
3,292 |
|
|
(3 |
) |
|
5,772 |
|
Long-Term Debt |
— |
|
|
4,918 |
|
|
— |
|
|
— |
|
|
4,918 |
|
Long-Term Lease Liabilities |
— |
|
|
548 |
|
|
2,375 |
|
|
— |
|
|
2,923 |
|
Intercompany Payable |
— |
|
|
2,275 |
|
|
— |
|
|
(2,275 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
377 |
|
|
578 |
|
|
(11 |
) |
|
944 |
|
Other Liabilities |
25 |
|
|
407 |
|
|
895 |
|
|
— |
|
|
1,327 |
|
Accumulated Losses from Subsidiaries |
386 |
|
|
— |
|
|
— |
|
|
(386 |
) |
|
— |
|
Shareholders' Equity (Deficit) |
2,697 |
|
|
(2,399 |
) |
|
4,023 |
|
|
(1,624 |
) |
|
2,697 |
|
Total Liabilities and Shareholders' Equity |
$ |
3,187 |
|
|
$ |
8,530 |
|
|
$ |
11,163 |
|
|
$ |
(4,299 |
) |
|
$ |
18,581 |
|
Condensed Consolidating Balance Sheet
As of May 4, 2019
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
293 |
|
|
$ |
151 |
|
|
$ |
293 |
|
|
$ |
— |
|
|
$ |
737 |
|
Receivables |
— |
|
|
40 |
|
|
197 |
|
|
— |
|
|
237 |
|
Merchandise inventories |
— |
|
|
2,369 |
|
|
3,129 |
|
|
— |
|
|
5,498 |
|
Prepaid expenses and other current assets |
— |
|
|
163 |
|
|
470 |
|
|
— |
|
|
633 |
|
Total Current Assets |
293 |
|
|
2,723 |
|
|
4,089 |
|
|
— |
|
|
7,105 |
|
Property and Equipment – net |
— |
|
|
3,202 |
|
|
3,297 |
|
|
— |
|
|
6,499 |
|
Right of Use Assets |
— |
|
|
677 |
|
|
1,954 |
|
|
— |
|
|
2,631 |
|
Goodwill |
— |
|
|
3,326 |
|
|
582 |
|
|
— |
|
|
3,908 |
|
Other Intangible Assets – net |
— |
|
|
5 |
|
|
436 |
|
|
— |
|
|
441 |
|
Other Assets |
— |
|
|
28 |
|
|
684 |
|
|
— |
|
|
712 |
|
Deferred Income Taxes |
6 |
|
|
— |
|
|
— |
|
|
(6 |
) |
|
— |
|
Intercompany Receivable |
2,436 |
|
|
— |
|
|
886 |
|
|
(3,322 |
) |
|
— |
|
Investment in Subsidiaries |
3,776 |
|
|
3,061 |
|
|
— |
|
|
(6,837 |
) |
|
— |
|
Total Assets |
$ |
6,511 |
|
|
$ |
13,022 |
|
|
$ |
11,928 |
|
|
$ |
(10,165 |
) |
|
$ |
21,296 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
41 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
41 |
|
Merchandise accounts payable |
— |
|
|
845 |
|
|
1,105 |
|
|
— |
|
|
1,950 |
|
Accounts payable and accrued liabilities |
73 |
|
|
786 |
|
|
1,987 |
|
|
— |
|
|
2,846 |
|
Income taxes |
87 |
|
|
61 |
|
|
34 |
|
|
— |
|
|
182 |
|
Total Current Liabilities |
160 |
|
|
1,733 |
|
|
3,126 |
|
|
— |
|
|
5,019 |
|
Long-Term Debt |
— |
|
|
4,680 |
|
|
— |
|
|
— |
|
|
4,680 |
|
Long-Term Lease Liabilities |
— |
|
|
607 |
|
|
2,216 |
|
|
— |
|
|
2,823 |
|
Intercompany Payable |
— |
|
|
3,322 |
|
|
— |
|
|
(3,322 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
626 |
|
|
573 |
|
|
(6 |
) |
|
1,193 |
|
Other Liabilities |
28 |
|
|
341 |
|
|
889 |
|
|
— |
|
|
1,258 |
|
Shareholders' Equity |
6,323 |
|
|
1,713 |
|
|
5,124 |
|
|
(6,837 |
) |
|
6,323 |
|
Total Liabilities and Shareholders' Equity |
$ |
6,511 |
|
|
$ |
13,022 |
|
|
$ |
11,928 |
|
|
$ |
(10,165 |
) |
|
$ |
21,296 |
|
Condensed Consolidating Balance Sheet
As of February 1, 2020
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
413 |
|
|
$ |
59 |
|
|
$ |
213 |
|
|
$ |
— |
|
|
$ |
685 |
|
Receivables |
— |
|
|
83 |
|
|
326 |
|
|
— |
|
|
409 |
|
Merchandise inventories |
— |
|
|
2,239 |
|
|
2,949 |
|
|
— |
|
|
5,188 |
|
Prepaid expenses and other current assets |
— |
|
|
118 |
|
|
410 |
|
|
— |
|
|
528 |
|
Total Current Assets |
413 |
|
|
2,499 |
|
|
3,898 |
|
|
— |
|
|
6,810 |
|
Property and Equipment – net |
— |
|
|
3,103 |
|
|
3,530 |
|
|
— |
|
|
6,633 |
|
Right of Use Assets |
— |
|
|
611 |
|
|
2,057 |
|
|
— |
|
|
2,668 |
|
Goodwill |
— |
|
|
3,326 |
|
|
582 |
|
|
— |
|
|
3,908 |
|
Other Intangible Assets – net |
— |
|
|
4 |
|
|
435 |
|
|
— |
|
|
439 |
|
Other Assets |
— |
|
|
37 |
|
|
677 |
|
|
— |
|
|
714 |
|
Deferred Income Taxes |
12 |
|
|
— |
|
|
— |
|
|
(12 |
) |
|
— |
|
Intercompany Receivable |
2,675 |
|
|
— |
|
|
1,128 |
|
|
(3,803 |
) |
|
— |
|
Investment in Subsidiaries |
3,433 |
|
|
2,796 |
|
|
— |
|
|
(6,229 |
) |
|
— |
|
Total Assets |
$ |
6,533 |
|
|
$ |
12,376 |
|
|
$ |
12,307 |
|
|
$ |
(10,044 |
) |
|
$ |
21,172 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
539 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
539 |
|
Merchandise accounts payable |
— |
|
|
702 |
|
|
980 |
|
|
— |
|
|
1,682 |
|
Accounts payable and accrued liabilities |
126 |
|
|
909 |
|
|
2,413 |
|
|
— |
|
|
3,448 |
|
Income taxes |
5 |
|
|
11 |
|
|
65 |
|
|
— |
|
|
81 |
|
Total Current Liabilities |
131 |
|
|
2,161 |
|
|
3,458 |
|
|
— |
|
|
5,750 |
|
Long-Term Debt |
— |
|
|
3,621 |
|
|
— |
|
|
— |
|
|
3,621 |
|
Long-Term Lease Liabilities |
— |
|
|
543 |
|
|
2,375 |
|
|
— |
|
|
2,918 |
|
Intercompany Payable |
— |
|
|
3,803 |
|
|
— |
|
|
(3,803 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
595 |
|
|
586 |
|
|
(12 |
) |
|
1,169 |
|
Other Liabilities |
25 |
|
|
414 |
|
|
898 |
|
|
— |
|
|
1,337 |
|
Shareholders' Equity |
6,377 |
|
|
1,239 |
|
|
4,990 |
|
|
(6,229 |
) |
|
6,377 |
|
Total Liabilities and Shareholders' Equity |
$ |
6,533 |
|
|
$ |
12,376 |
|
|
$ |
12,307 |
|
|
$ |
(10,044 |
) |
|
$ |
21,172 |
|
|
| Condensed Consolidating Statement of Cash Flows [Table Text Block] |
Condensed Consolidating Statement of Cash Flows
For the 13 Weeks Ended May 2, 2020
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net loss |
$ |
(3,581 |
) |
|
$ |
(3,650 |
) |
|
$ |
(727 |
) |
|
$ |
4,377 |
|
|
$ |
(3,581 |
) |
Impairment, restructuring and other costs |
— |
|
|
2,722 |
|
|
462 |
|
|
— |
|
|
3,184 |
|
Equity in loss of subsidiaries |
3,582 |
|
|
795 |
|
|
— |
|
|
(4,377 |
) |
|
— |
|
Dividends received from subsidiaries |
251 |
|
|
— |
|
|
— |
|
|
(251 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
77 |
|
|
160 |
|
|
— |
|
|
237 |
|
Gains on sale of real estate |
— |
|
|
— |
|
|
(16 |
) |
|
— |
|
|
(16 |
) |
Changes in assets, liabilities and other items not separately identified |
(353 |
) |
|
151 |
|
|
214 |
|
|
— |
|
|
12 |
|
Net cash provided (used) by operating activities |
(101 |
) |
|
95 |
|
|
93 |
|
|
(251 |
) |
|
(164 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net of dispositions |
— |
|
|
(34 |
) |
|
(105 |
) |
|
— |
|
|
(139 |
) |
Other, net |
— |
|
|
— |
|
|
26 |
|
|
— |
|
|
26 |
|
Net cash used by investing activities |
— |
|
|
(34 |
) |
|
(79 |
) |
|
— |
|
|
(113 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt issued, net of debt repaid |
— |
|
|
1,497 |
|
|
(1 |
) |
|
— |
|
|
1,496 |
|
Dividends paid |
(117 |
) |
|
— |
|
|
(251 |
) |
|
251 |
|
|
(117 |
) |
Intercompany activity, net |
1,082 |
|
|
(1,529 |
) |
|
447 |
|
|
— |
|
|
— |
|
Other, net |
(117 |
) |
|
(68 |
) |
|
(46 |
) |
|
— |
|
|
(231 |
) |
Net cash provided (used) by financing activities |
848 |
|
|
(100 |
) |
|
149 |
|
|
251 |
|
|
1,148 |
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
747 |
|
|
(39 |
) |
|
163 |
|
|
— |
|
|
871 |
|
Cash, cash equivalents and restricted cash at beginning of period |
413 |
|
|
64 |
|
|
254 |
|
|
— |
|
|
731 |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
1,160 |
|
|
$ |
25 |
|
|
$ |
417 |
|
|
$ |
— |
|
|
$ |
1,602 |
|
Condensed Consolidating Statement of Cash Flows
For the 13 Weeks Ended May 4, 2019
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
136 |
|
|
$ |
(43 |
) |
|
$ |
145 |
|
|
$ |
(102 |
) |
|
$ |
136 |
|
Impairment and other costs |
— |
|
|
— |
|
|
1 |
|
|
— |
|
|
1 |
|
Equity in loss (earnings) of subsidiaries |
(132 |
) |
|
30 |
|
|
— |
|
|
102 |
|
|
— |
|
Dividends received from subsidiaries |
225 |
|
|
— |
|
|
— |
|
|
(225 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
85 |
|
|
151 |
|
|
— |
|
|
236 |
|
Gains on sale of real estate |
— |
|
|
(24 |
) |
|
(19 |
) |
|
— |
|
|
(43 |
) |
Changes in assets, liabilities and other items not separately identified |
78 |
|
|
(118 |
) |
|
(328 |
) |
|
— |
|
|
(368 |
) |
Net cash provided (used) by operating activities |
307 |
|
|
(70 |
) |
|
(50 |
) |
|
(225 |
) |
|
(38 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net of dispositions |
— |
|
|
(52 |
) |
|
(178 |
) |
|
— |
|
|
(230 |
) |
Other, net |
— |
|
|
— |
|
|
(7 |
) |
|
— |
|
|
(7 |
) |
Net cash used by investing activities |
— |
|
|
(52 |
) |
|
(185 |
) |
|
— |
|
|
(237 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt repaid |
— |
|
|
(3 |
) |
|
— |
|
|
— |
|
|
(3 |
) |
Dividends paid |
(116 |
) |
|
— |
|
|
(225 |
) |
|
225 |
|
|
(116 |
) |
Issuance of common stock |
6 |
|
|
— |
|
|
— |
|
|
— |
|
|
6 |
|
Intercompany activity, net |
(700 |
) |
|
214 |
|
|
486 |
|
|
— |
|
|
— |
|
Other, net |
(93 |
) |
|
28 |
|
|
20 |
|
|
— |
|
|
(45 |
) |
Net cash provided (used) by financing activities |
(903 |
) |
|
239 |
|
|
281 |
|
|
225 |
|
|
(158 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
(596 |
) |
|
117 |
|
|
46 |
|
|
— |
|
|
(433 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
889 |
|
|
64 |
|
|
295 |
|
|
— |
|
|
1,248 |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
293 |
|
|
$ |
181 |
|
|
$ |
341 |
|
|
$ |
— |
|
|
$ |
815 |
|
|
| Condensed Consolidating Statement of Comprehensive Income [Table Text Block] |
Condensed Consolidating Statement of Comprehensive Income (Loss)
For the 13 Weeks Ended May 2, 2020
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
867 |
|
|
$ |
2,955 |
|
|
$ |
(805 |
) |
|
$ |
3,017 |
|
Credit card revenues (expense), net |
— |
|
|
(5 |
) |
|
136 |
|
|
— |
|
|
131 |
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
— |
|
|
(796 |
) |
|
(2,510 |
) |
|
805 |
|
|
(2,501 |
) |
Selling, general and administrative expenses |
— |
|
|
(562 |
) |
|
(1,036 |
) |
|
— |
|
|
(1,598 |
) |
Gains on sale of real estate |
— |
|
|
— |
|
|
16 |
|
|
— |
|
|
16 |
|
Impairment, restructuring and other costs |
— |
|
|
(2,722 |
) |
|
(462 |
) |
|
— |
|
|
(3,184 |
) |
Operating loss |
— |
|
|
(3,218 |
) |
|
(901 |
) |
|
— |
|
|
(4,119 |
) |
Benefit plan income, net |
— |
|
|
3 |
|
|
6 |
|
|
— |
|
|
9 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
1 |
|
|
(49 |
) |
|
1 |
|
|
— |
|
|
(47 |
) |
Intercompany |
— |
|
|
(18 |
) |
|
18 |
|
|
— |
|
|
— |
|
Equity in loss of subsidiaries |
(3,582 |
) |
|
(795 |
) |
|
— |
|
|
4,377 |
|
|
— |
|
Loss before income taxes |
(3,581 |
) |
|
(4,077 |
) |
|
(876 |
) |
|
4,377 |
|
|
(4,157 |
) |
Federal, state and local income
tax benefit |
— |
|
|
427 |
|
|
149 |
|
|
— |
|
|
576 |
|
Net loss |
$ |
(3,581 |
) |
|
$ |
(3,650 |
) |
|
$ |
(727 |
) |
|
$ |
4,377 |
|
|
$ |
(3,581 |
) |
|
|
|
|
|
|
|
|
|
|
Comprehensive loss |
$ |
(3,572 |
) |
|
$ |
(3,641 |
) |
|
$ |
(721 |
) |
|
$ |
4,362 |
|
|
$ |
(3,572 |
) |
Condensed Consolidating Statement of Comprehensive Income
For the 13 Weeks Ended May 4, 2019
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
2,154 |
|
|
$ |
4,768 |
|
|
$ |
(1,418 |
) |
|
$ |
5,504 |
|
Credit card revenues, net |
— |
|
|
(2 |
) |
|
174 |
|
|
— |
|
|
172 |
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
— |
|
|
(1,341 |
) |
|
(3,480 |
) |
|
1,418 |
|
|
(3,403 |
) |
Selling, general and administrative expenses |
— |
|
|
(803 |
) |
|
(1,309 |
) |
|
— |
|
|
(2,112 |
) |
Gains on sale of real estate |
— |
|
|
24 |
|
|
19 |
|
|
— |
|
|
43 |
|
Impairment and other costs |
— |
|
|
— |
|
|
(1 |
) |
|
— |
|
|
(1 |
) |
Operating income |
— |
|
|
32 |
|
|
171 |
|
|
— |
|
|
203 |
|
Benefit plan income, net |
— |
|
|
3 |
|
|
4 |
|
|
— |
|
|
7 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
|
External |
5 |
|
|
(53 |
) |
|
1 |
|
|
— |
|
|
(47 |
) |
Intercompany |
— |
|
|
(19 |
) |
|
19 |
|
|
— |
|
|
— |
|
Equity in earnings (loss) of subsidiaries |
132 |
|
|
(30 |
) |
|
— |
|
|
(102 |
) |
|
— |
|
Income (loss) before income taxes |
137 |
|
|
(67 |
) |
|
195 |
|
|
(102 |
) |
|
163 |
|
Federal, state and local income
tax benefit (expense) |
(1 |
) |
|
24 |
|
|
(50 |
) |
|
— |
|
|
(27 |
) |
Net income (loss) |
$ |
136 |
|
|
$ |
(43 |
) |
|
$ |
145 |
|
|
$ |
(102 |
) |
|
$ |
136 |
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) |
$ |
142 |
|
|
$ |
(38 |
) |
|
$ |
149 |
|
|
$ |
(111 |
) |
|
$ |
142 |
|
|