Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidating Financial Information (Tables)

v3.3.0.814
Condensed Consolidating Financial Information (Tables)
 9 Months Ended
Oct. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet
As of January 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
1,908

 
$
94

 
$
244

 
$
—

 
$
2,246

Receivables
—

 
97

 
327

 
—

 
424

Merchandise inventories
—

 
2,817

 
2,699

 
—

 
5,516

Prepaid expenses and other current assets
—

 
113

 
380

 
—

 
493

Income taxes
88

 
—

 
—

 
(88
)
 
—

Total Current Assets
1,996

 
3,121

 
3,650

 
(88
)
 
8,679

Property and Equipment – net
—

 
4,315

 
3,485

 
—

 
7,800

Goodwill
—

 
3,315

 
428

 
—

 
3,743

Other Intangible Assets – net
—

 
73

 
423

 
—

 
496

Other Assets
1

 
74

 
668

 
—

 
743

Deferred Income Taxes
10

 
—

 
—

 
(10
)
 
—

Intercompany Receivable
—

 
—

 
4,140

 
(4,140
)
 
—

Investment in Subsidiaries
4,655

 
3,526

 
—

 
(8,181
)
 
—

Total Assets
$
6,662

 
$
14,424

 
$
12,794

 
$
(12,419
)
 
$
21,461

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$
—

 
$
75

 
$
1

 
$
—

 
$
76

Merchandise accounts payable
—

 
784

 
909

 
—

 
1,693

Accounts payable and accrued liabilities
42

 
1,360

 
1,707

 
—

 
3,109

Income taxes
—

 
22

 
362

 
(88
)
 
296

Deferred income taxes
—

 
295

 
67

 
—

 
362

Total Current Liabilities
42

 
2,536

 
3,046

 
(88
)
 
5,536

Long-Term Debt
—

 
7,245

 
20

 
—

 
7,265

Intercompany Payable
1,215

 
2,925

 
—

 
(4,140
)
 
—

Deferred Income Taxes
—

 
414

 
677

 
(10
)
 
1,081

Other Liabilities
27

 
593

 
1,581

 
—

 
2,201

Shareholders' Equity:
 
 
 
 
 
 
 
 
 
Macy's, Inc.
5,378

 
711

 
7,470

 
(8,181
)
 
5,378

Noncontrolling Interest
—

 
—

 
—

 
—

 
—

Total Shareholders' Equity
5,378

 
711

 
7,470

 
(8,181
)
 
5,378

Total Liabilities and Shareholders' Equity
$
6,662

 
$
14,424

 
$
12,794

 
$
(12,419
)
 
$
21,461





Condensed Consolidating Balance Sheet
As of November 1, 2014
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
650

 
$
105

 
$
293

 
$
—

 
$
1,048

Receivables
—

 
58

 
234

 
—

 
292

Merchandise inventories
—

 
3,997

 
3,792

 
—

 
7,789

Prepaid expenses and other current assets
—

 
95

 
329

 
—

 
424

Income taxes
—

 
—

 
—

 
—

 
—

Total Current Assets
650

 
4,255

 
4,648

 
—

 
9,553

Property and Equipment – net
—

 
4,447

 
3,340

 
—

 
7,787

Goodwill
—

 
3,315

 
428

 
—

 
3,743

Other Intangible Assets – net
—

 
80

 
424

 
—

 
504

Other Assets
3

 
122

 
700

 
—

 
825

Deferred Income Taxes
15

 
—

 
—

 
(15
)
 
—

Intercompany Receivable
245

 
—

 
3,396

 
(3,641
)
 
—

Investment in Subsidiaries
4,596

 
3,362

 
—

 
(7,958
)
 
—

Total Assets
$
5,509

 
$
15,581

 
$
12,936

 
$
(11,614
)
 
$
22,412

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$
—

 
$
75

 
$
1

 
$
—

 
$
76

Merchandise accounts payable
—

 
1,763

 
2,051

 
—

 
3,814

Accounts payable and accrued liabilities
115

 
1,067

 
1,381

 
—

 
2,563

Income taxes
3

 
38

 
73

 
—

 
114

Deferred income taxes
—

 
310

 
86

 
—

 
396

Total Current Liabilities
118

 
3,253

 
3,592

 
—

 
6,963

Long-Term Debt
—

 
7,110

 
20

 
—

 
7,130

Intercompany Payable
—

 
3,641

 
—

 
(3,641
)
 
—

Deferred Income Taxes
—

 
524

 
805

 
(15
)
 
1,314

Other Liabilities
40

 
520

 
1,094

 
—

 
1,654

Shareholders' Equity:
 
 
 
 
 
 
 
 
 
Macy's, Inc.
5,351

 
533

 
7,425

 
(7,958
)
 
5,351

Noncontrolling Interest
—

 
—

 
—

 
—

 
—

Total Shareholders' Equity
5,351

 
533

 
7,425

 
(7,958
)
 
5,351

Total Liabilities and Shareholders' Equity
$
5,509

 
$
15,581

 
$
12,936

 
$
(11,614
)
 
$
22,412


Condensed Consolidating Balance Sheet
As of October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
11

 
$
94

 
$
369

 
$
—

 
$
474

Receivables
—

 
38

 
162

 
—

 
200

Merchandise inventories
—

 
4,053

 
4,092

 
—

 
8,145

Prepaid expenses and other current assets
—

 
92

 
333

 
—

 
425

Income taxes
32

 
—

 
—

 
(32
)
 
—

Total Current Assets
43

 
4,277

 
4,956

 
(32
)
 
9,244

Property and Equipment – net
—

 
4,112

 
3,517

 
—

 
7,629

Goodwill
—

 
3,315

 
582

 
—

 
3,897

Other Intangible Assets – net
—

 
59

 
459

 
—

 
518

Other Assets
2

 
74

 
722

 
—

 
798

Deferred Income Taxes
17

 
—

 
—

 
(17
)
 
—

Intercompany Receivable
—

 
—

 
3,413

 
(3,413
)
 
—

Investment in Subsidiaries
4,644

 
3,621

 
—

 
(8,265
)
 
—

Total Assets
$
4,706

 
$
15,458

 
$
13,649

 
$
(11,727
)
 
$
22,086

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$
—

 
$
856

 
$
1

 
$
—

 
$
857

Merchandise accounts payable
—

 
1,825

 
1,951

 
—

 
3,776

Accounts payable and accrued liabilities
103

 
1,118

 
1,471

 
—

 
2,692

Income taxes
—

 
4

 
130

 
(32
)
 
102

Deferred income taxes
—

 
304

 
71

 
—

 
375

Total Current Liabilities
103

 
4,107

 
3,624

 
(32
)
 
7,802

Long-Term Debt
—

 
7,087

 
19

 
—

 
7,106

Intercompany Payable
601

 
2,812

 
—

 
(3,413
)
 
—

Deferred Income Taxes
—

 
396

 
699

 
(17
)
 
1,078

Other Liabilities
31

 
580

 
1,514

 
—

 
2,125

Shareholders' Equity:
 
 
 
 
 
 
 
 
 
Macy's, Inc.
3,971

 
476

 
7,789

 
(8,265
)
 
3,971

Noncontrolling Interest
—

 
—

 
4

 
—

 
4

Total Shareholders' Equity
3,971

 
476

 
7,793

 
(8,265
)
 
3,975

Total Liabilities and Shareholders' Equity
$
4,706

 
$
15,458

 
$
13,649

 
$
(11,727
)
 
$
22,086

Condensed Consolidating Statement of Comprehensive Income [Table Text Block]
Condensed Consolidating Statement of Comprehensive Income
For the 13 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$
—

 
$
2,654

 
$
6,366

 
$
(3,146
)
 
$
5,874

Cost of sales
—

 
(1,761
)
 
(4,922
)
 
3,146

 
(3,537
)
Gross margin
—

 
893

 
1,444

 
—

 
2,337

Selling, general and administrative expenses
—

 
(957
)
 
(1,011
)
 
—

 
(1,968
)
Asset impairments
—

 
(102
)
 
(9
)
 
—

 
(111
)
Operating income (loss)
—

 
(166
)
 
424

 
—

 
258

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
—

 
(79
)
 
(1
)
 
—

 
(80
)
Intercompany
—

 
(58
)
 
58

 
—

 
—

Equity in earnings of subsidiaries
117

 
(9
)
 
—

 
(108
)
 
—

Income (loss) before income taxes
117

 
(312
)
 
481

 
(108
)
 
178

Federal, state and local income
tax benefit (expense)
1

 
84

 
(146
)
 
—

 
(61
)
Net income (loss)
118

 
(228
)
 
335

 
(108
)
 
117

Net loss attributable to noncontrolling interest
—

 
—

 
1

 
—

 
1

Net income (loss) attributable to
Macy's, Inc. shareholders
$
118

 
$
(228
)
 
$
336

 
$
(108
)
 
$
118

Comprehensive income (loss)
$
125

 
$
(221
)
 
$
339

 
$
(119
)
 
$
124

Comprehensive loss attributable to
noncontrolling interest
—

 
—

 
1

 
—

 
1

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
125

 
$
(221
)
 
$
340

 
$
(119
)
 
$
125






 

Condensed Consolidating Statement of Comprehensive Income
For the 39 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$
—

 
$
8,191

 
$
17,106

 
$
(7,087
)
 
$
18,210

Cost of sales
—

 
(5,258
)
 
(12,776
)
 
7,087

 
(10,947
)
Gross margin
—

 
2,933

 
4,330

 
—

 
7,263

Selling, general and administrative expenses
(1
)
 
(2,962
)
 
(3,086
)
 
—

 
(6,049
)
Asset impairments
—

 
(102
)
 
(9
)
 
—

 
(111
)
Operating income (loss)
(1
)
 
(131
)
 
1,235

 
—

 
1,103

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
—

 
(267
)
 
(1
)
 
—

 
(268
)
Intercompany
—

 
(173
)
 
173

 
—

 
—

Equity in earnings of subsidiaries
528

 
137

 
—

 
(665
)
 
—

Income (loss) before income taxes
527

 
(434
)
 
1,407

 
(665
)
 
835

Federal, state and local income
tax benefit (expense)
1

 
163

 
(472
)
 
—

 
(308
)
Net income (loss)
528

 
(271
)
 
935

 
(665
)
 
527

Net loss attributable to noncontrolling interest
—

 
—

 
1

 
—

 
1

Net income (loss) attributable to
Macy's, Inc. shareholders
$
528

 
$
(271
)
 
$
936

 
$
(665
)
 
$
528

Comprehensive income (loss)
$
550

 
$
(249
)
 
$
948

 
$
(700
)
 
$
549

Comprehensive loss attributable to
noncontrolling interest
—

 
—

 
1

 
—

 
1

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
550

 
$
(249
)
 
$
949

 
$
(700
)
 
$
550



Condensed Consolidating Statement of Comprehensive Income
For the 13 Weeks Ended November 1, 2014
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$
—

 
$
2,920

 
$
6,365

 
$
(3,090
)
 
$
6,195

Cost of sales
—

 
(1,916
)
 
(4,940
)
 
3,090

 
(3,766
)
Gross margin
—

 
1,004

 
1,425

 
—

 
2,429

Selling, general and administrative expenses
—

 
(1,069
)
 
(938
)
 
—

 
(2,007
)
Operating income (loss)
—

 
(65
)
 
487

 
—

 
422

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
—

 
(96
)
 
—

 
—

 
(96
)
Intercompany
—

 
(56
)
 
56

 
—

 
—

Equity in earnings of subsidiaries
217

 
21

 
—

 
(238
)
 
—

Income (loss) before income taxes
217

 
(196
)
 
543

 
(238
)
 
326

Federal, state and local income
tax benefit (expense)
—

 
60

 
(169
)
 
—

 
(109
)
Net income (loss)
217

 
(136
)
 
374

 
(238
)
 
217

Net loss attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net income (loss) attributable to
Macy's, Inc. shareholders
$
217

 
$
(136
)
 
$
374

 
$
(238
)
 
$
217

Comprehensive income (loss)
$
220

 
$
(133
)
 
$
377

 
$
(244
)
 
$
220

Comprehensive loss attributable to
noncontrolling interest
—

 
—

 
—

 
—

 
—

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
220

 
$
(133
)
 
$
377

 
$
(244
)
 
$
220







Condensed Consolidating Statement of Comprehensive Income
For the 39 Weeks Ended November 1, 2014
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$
—

 
$
8,799

 
$
16,816

 
$
(6,874
)
 
$
18,741

Cost of sales
—

 
(5,580
)
 
(12,568
)
 
6,874

 
(11,274
)
Gross margin
—


3,219

 
4,248

 
—

 
7,467

Selling, general and administrative expenses
(2
)
 
(3,122
)
 
(2,907
)
 
—

 
(6,031
)
Operating income (loss)
(2
)

97

 
1,341

 
—

 
1,436

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
—

 
(296
)
 
—

 
—

 
(296
)
Intercompany
—

 
(172
)
 
172

 
—

 
—

Equity in earnings of subsidiaries
735

 
200

 
—

 
(935
)
 
—

Income (loss) before income taxes
733

 
(171
)
 
1,513

 
(935
)
 
1,140

Federal, state and local income
tax benefit (expense)
—

 
102

 
(509
)
 
—

 
(407
)
Net income (loss)
733

 
(69
)
 
1,004

 
(935
)
 
733

Net loss attributable to noncontrolling interest
—

 
—

 
—

 
—

 
—

Net income (loss) attributable to
Macy's, Inc. shareholders
$
733

 
$
(69
)
 
$
1,004

 
$
(935
)
 
$
733

Comprehensive income (loss)
$
744

 
$
(58
)
 
$
1,011

 
$
(953
)
 
$
744

Comprehensive loss attributable to
noncontrolling interest
—

 
—

 
—

 
—

 
—

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
744

 
$
(58
)
 
$
1,011

 
$
(953
)
 
$
744


Condensed Consolidating Statement of Cash Flows [Table Text Block]

Condensed Consolidating Statement of Cash Flows
For the 39 Weeks Ended November 1, 2014
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
733

 
$
(69
)
 
$
1,004

 
$
(935
)
 
$
733

Equity in earnings of subsidiaries
(735
)
 
(200
)
 
—

 
935

 
—

Dividends received from subsidiaries
775

 
1

 
—

 
(776
)
 
—

Depreciation and amortization
—

 
331

 
439

 
—

 
770

(Increase) decrease in working capital
99

 
(250
)
 
(542
)
 
—

 
(693
)
Other, net
(14
)
 
(29
)
 
74

 
—

 
31

Net cash provided (used) by operating
activities
858

 
(216
)
 
975

 
(776
)
 
841

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net
—

 
(209
)
 
(449
)
 
—

 
(658
)
Other, net
—

 
6

 
(8
)
 
—

 
(2
)
Net cash used by investing activities
—

 
(203
)
 
(457
)
 
—

 
(660
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt issued, net of debt repaid
—

 
39

 
(1
)
 
—

 
38

Dividends paid
(314
)
 
—

 
(776
)
 
776

 
(314
)
Common stock acquired, net of
issuance of common stock
(1,248
)
 
—

 
—

 
—

 
(1,248
)
Intercompany activity, net
(553
)
 
416

 
137

 
—

 
—

Other, net
(48
)
 
(15
)
 
181

 
—

 
118

Net cash provided (used) by
financing activities
(2,163
)
 
440

 
(459
)
 
776

 
(1,406
)
Net increase (decrease) in cash and
cash equivalents
(1,305
)
 
21

 
59

 
—

 
(1,225
)
Cash and cash equivalents at beginning of period
1,955

 
84

 
234

 
—

 
2,273

Cash and cash equivalents at end of period
$
650

 
$
105

 
$
293

 
$
—

 
$
1,048



Condensed Consolidating Statement of Cash Flows
For the 39 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
528

 
$
(271
)
 
$
935

 
$
(665
)
 
$
527

Asset impairments
—

 
102

 
9

 
—

 
111

Equity in earnings of subsidiaries
(528
)
 
(137
)
 
—

 
665

 
—

Dividends received from subsidiaries
597

 
—

 
—

 
(597
)
 
—

Depreciation and amortization
—

 
330

 
461

 
—

 
791

(Increase) decrease in working capital
55

 
(329
)
 
(867
)
 
—

 
(1,141
)
Other, net
(3
)
 
2

 
(9
)
 
—

 
(10
)
Net cash provided (used) by operating activities
649

 
(303
)
 
529

 
(597
)
 
278

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net
—

 
(216
)
 
(530
)
 
—

 
(746
)
Other, net
—

 
14

 
(129
)
 
—

 
(115
)
Net cash used by investing activities
—

 
(202
)
 
(659
)
 
—

 
(861
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt issued, net of debt repaid
—

 
640

 
(1
)
 
—

 
639

Dividends paid
(344
)
 
—

 
(597
)
 
597

 
(344
)
Common stock acquired, net of
issuance of common stock
(1,625
)
 
—

 
—

 
—

 
(1,625
)
Proceeds from noncontrolling interest
—

 
—

 
5

 
—

 
5

Intercompany activity, net
(587
)
 
(73
)
 
660

 
—

 
—

Other, net
10

 
(62
)
 
188

 
—

 
136

Net cash provided (used) by
financing activities
(2,546
)
 
505

 
255

 
597

 
(1,189
)
Net increase (decrease) in cash
and cash equivalents
(1,897
)
 
—

 
125

 
—

 
(1,772
)
Cash and cash equivalents at beginning of period
1,908

 
94

 
244

 
—

 
2,246

Cash and cash equivalents at end of period
$
11

 
$
94

 
$
369

 
$
—

 
$
474