| Condensed Consolidating Financial Information |
Condensed Consolidating Financial Information
Certain debt obligations of the Company described in Note 7, which constitute debt obligations of Parent’s wholly-owned subsidiary, Macy’s Retail Holdings, Inc. (“Subsidiary Issuer”) are fully and unconditionally guaranteed by Parent. In the following condensed consolidating financial statements, “Other Subsidiaries” includes all other direct subsidiaries of Parent, including FDS Bank, West 34th Street Insurance Company (prior to a merger, known separately as Leadville Insurance Company and Snowdin Insurance Company), Macy’s Merchandising Group, Inc. and its subsidiary Macy’s Merchandising Group International, LLC. “Subsidiary Issuer” includes operating divisions and non-guarantor subsidiaries of the Subsidiary Issuer on an equity basis. The assets and liabilities and results of operations of the non-guarantor subsidiaries of the Subsidiary Issuer are also reflected in “Other Subsidiaries.”
Condensed Consolidating Balance Sheets as of January 28, 2012 and January 29, 2011, the related Condensed Consolidating Statements of Operations for 2011, 2010 and 2009, and the related Condensed Consolidating Statements of Cash Flows for 2011, 2010, and 2009 are presented on the following pages.
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 28, 2012
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
2,533 |
|
|
$ |
38 |
|
|
$ |
256 |
|
|
$ |
— |
|
|
$ |
2,827 |
|
Receivables |
— |
|
|
58 |
|
|
310 |
|
|
— |
|
|
368 |
|
Merchandise inventories |
— |
|
|
2,722 |
|
|
2,395 |
|
|
— |
|
|
5,117 |
|
Prepaid expenses and other current assets |
— |
|
|
152 |
|
|
313 |
|
|
— |
|
|
465 |
|
Total Current Assets |
2,533 |
|
|
2,970 |
|
|
3,274 |
|
|
— |
|
|
8,777 |
|
Property and Equipment – net |
— |
|
|
4,827 |
|
|
3,593 |
|
|
— |
|
|
8,420 |
|
Goodwill |
— |
|
|
3,315 |
|
|
428 |
|
|
— |
|
|
3,743 |
|
Other Intangible Assets – net |
— |
|
|
153 |
|
|
445 |
|
|
— |
|
|
598 |
|
Other Assets |
4 |
|
|
73 |
|
|
480 |
|
|
— |
|
|
557 |
|
Intercompany Receivable |
520 |
|
|
— |
|
|
2,963 |
|
|
(3,483 |
) |
|
— |
|
Investment in Subsidiaries |
3,210 |
|
|
2,435 |
|
|
— |
|
|
(5,645 |
) |
|
— |
|
Total Assets |
$ |
6,267 |
|
|
$ |
13,773 |
|
|
$ |
11,183 |
|
|
$ |
(9,128 |
) |
|
$ |
22,095 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
1,099 |
|
|
$ |
4 |
|
|
$ |
— |
|
|
$ |
1,103 |
|
Merchandise accounts payable |
— |
|
|
731 |
|
|
862 |
|
|
— |
|
|
1,593 |
|
Accounts payable and accrued liabilities |
248 |
|
|
1,103 |
|
|
1,437 |
|
|
— |
|
|
2,788 |
|
Income taxes |
46 |
|
|
29 |
|
|
296 |
|
|
— |
|
|
371 |
|
Deferred income taxes |
— |
|
|
314 |
|
|
94 |
|
|
— |
|
|
408 |
|
Total Current Liabilities |
294 |
|
|
3,276 |
|
|
2,693 |
|
|
— |
|
|
6,263 |
|
Long-Term Debt |
— |
|
|
6,630 |
|
|
25 |
|
|
— |
|
|
6,655 |
|
Intercompany Payable |
— |
|
|
3,483 |
|
|
— |
|
|
(3,483 |
) |
|
— |
|
Deferred Income Taxes |
4 |
|
|
351 |
|
|
786 |
|
|
— |
|
|
1,141 |
|
Other Liabilities |
36 |
|
|
771 |
|
|
1,296 |
|
|
— |
|
|
2,103 |
|
Shareholders’ Equity (Deficit) |
5,933 |
|
|
(738 |
) |
|
6,383 |
|
|
(5,645 |
) |
|
5,933 |
|
Total Liabilities and Shareholders’ Equity |
$ |
6,267 |
|
|
$ |
13,773 |
|
|
$ |
11,183 |
|
|
$ |
(9,128 |
) |
|
$ |
22,095 |
|
MACY’S, INC.
Condensed Consolidating Statement of Operations
For 2011
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
13,405 |
|
|
$ |
21,312 |
|
|
$ |
(8,312 |
) |
|
$ |
26,405 |
|
Cost of sales |
— |
|
|
(8,274 |
) |
|
(15,721 |
) |
|
8,257 |
|
|
(15,738 |
) |
Gross margin |
— |
|
|
5,131 |
|
|
5,591 |
|
|
(55 |
) |
|
10,667 |
|
Selling, general and administrative expenses |
5 |
|
|
(4,585 |
) |
|
(3,756 |
) |
|
55 |
|
|
(8,281 |
) |
Gain on sale of properties, impairments, store closing costs and division consolidation costs |
— |
|
|
28 |
|
|
(3 |
) |
|
— |
|
|
25 |
|
Operating income (loss) |
5 |
|
|
574 |
|
|
1,832 |
|
|
— |
|
|
2,411 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
1 |
|
|
(443 |
) |
|
(1 |
) |
|
— |
|
|
(443 |
) |
Intercompany |
(1 |
) |
|
(191 |
) |
|
192 |
|
|
— |
|
|
— |
|
Equity in earnings of subsidiaries |
1,253 |
|
|
548 |
|
|
— |
|
|
(1,801 |
) |
|
— |
|
Income before income taxes |
1,258 |
|
|
488 |
|
|
2,023 |
|
|
(1,801 |
) |
|
1,968 |
|
Federal, state and local income tax benefit (expense) |
(2 |
) |
|
27 |
|
|
(737 |
) |
|
— |
|
|
(712 |
) |
Net income |
$ |
1,256 |
|
|
$ |
515 |
|
|
$ |
1,286 |
|
|
$ |
(1,801 |
) |
|
$ |
1,256 |
|
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2011
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income |
$ |
1,256 |
|
|
$ |
515 |
|
|
$ |
1,286 |
|
|
$ |
(1,801 |
) |
|
$ |
1,256 |
|
Gain on sale of properties, impairments, store closing costs and division consolidation costs |
— |
|
|
(28 |
) |
|
3 |
|
|
— |
|
|
(25 |
) |
Equity in earnings of subsidiaries |
(1,253 |
) |
|
(548 |
) |
|
— |
|
|
1,801 |
|
|
— |
|
Dividends received from subsidiaries |
612 |
|
|
175 |
|
|
— |
|
|
(787 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
517 |
|
|
568 |
|
|
— |
|
|
1,085 |
|
(Increase) decrease in working capital |
5 |
|
|
(110 |
) |
|
50 |
|
|
— |
|
|
(55 |
) |
Other, net |
(18 |
) |
|
(166 |
) |
|
16 |
|
|
— |
|
|
(168 |
) |
Net cash provided by operating activities |
602 |
|
|
355 |
|
|
1,923 |
|
|
(787 |
) |
|
2,093 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(171 |
) |
|
(473 |
) |
|
— |
|
|
(644 |
) |
Other, net |
38 |
|
|
16 |
|
|
(27 |
) |
|
— |
|
|
27 |
|
Net cash provided (used) by
investing activities |
38 |
|
|
(155 |
) |
|
(500 |
) |
|
— |
|
|
(617 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt issued, net of debt repaid |
— |
|
|
349 |
|
|
(3 |
) |
|
— |
|
|
346 |
|
Dividends paid |
(148 |
) |
|
— |
|
|
(787 |
) |
|
787 |
|
|
(148 |
) |
Common stock acquired, net of
issuance of common stock |
(340 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(340 |
) |
Intercompany activity, net |
1,186 |
|
|
(529 |
) |
|
(657 |
) |
|
— |
|
|
— |
|
Other, net |
21 |
|
|
(23 |
) |
|
31 |
|
|
— |
|
|
29 |
|
Net cash provided (used) by
financing activities |
719 |
|
|
(203 |
) |
|
(1,416 |
) |
|
787 |
|
|
(113 |
) |
Net increase (decrease) in cash and cash equivalents |
1,359 |
|
|
(3 |
) |
|
7 |
|
|
— |
|
|
1,363 |
|
Cash and cash equivalents at beginning of period |
1,174 |
|
|
41 |
|
|
249 |
|
|
— |
|
|
1,464 |
|
Cash and cash equivalents at end of period |
$ |
2,533 |
|
|
$ |
38 |
|
|
$ |
256 |
|
|
$ |
— |
|
|
$ |
2,827 |
|
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 29, 2011
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
1,174 |
|
|
$ |
41 |
|
|
$ |
249 |
|
|
$ |
— |
|
|
$ |
1,464 |
|
Receivables |
— |
|
|
89 |
|
|
249 |
|
|
— |
|
|
338 |
|
Merchandise inventories |
— |
|
|
2,589 |
|
|
2,169 |
|
|
— |
|
|
4,758 |
|
Prepaid expenses and other current assets |
— |
|
|
98 |
|
|
241 |
|
|
— |
|
|
339 |
|
Total Current Assets |
1,174 |
|
|
2,817 |
|
|
2,908 |
|
|
— |
|
|
6,899 |
|
Property and Equipment – net |
— |
|
|
5,013 |
|
|
3,800 |
|
|
— |
|
|
8,813 |
|
Goodwill |
— |
|
|
3,315 |
|
|
428 |
|
|
— |
|
|
3,743 |
|
Other Intangible Assets – net |
— |
|
|
184 |
|
|
453 |
|
|
— |
|
|
637 |
|
Other Assets |
4 |
|
|
133 |
|
|
402 |
|
|
— |
|
|
539 |
|
Deferred Income Tax Assets |
19 |
|
|
— |
|
|
— |
|
|
(19 |
) |
|
— |
|
Intercompany Receivable |
1,651 |
|
|
— |
|
|
2,737 |
|
|
(4,388 |
) |
|
— |
|
Investment in Subsidiaries |
2,908 |
|
|
2,598 |
|
|
— |
|
|
(5,506 |
) |
|
— |
|
Total Assets |
$ |
5,756 |
|
|
$ |
14,060 |
|
|
$ |
10,728 |
|
|
$ |
(9,913 |
) |
|
$ |
20,631 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
451 |
|
|
$ |
3 |
|
|
$ |
— |
|
|
$ |
454 |
|
Merchandise accounts payable |
— |
|
|
680 |
|
|
741 |
|
|
— |
|
|
1,421 |
|
Accounts payable and accrued liabilities |
144 |
|
|
1,031 |
|
|
1,350 |
|
|
— |
|
|
2,525 |
|
Income taxes |
29 |
|
|
18 |
|
|
135 |
|
|
— |
|
|
182 |
|
Deferred income taxes |
— |
|
|
299 |
|
|
110 |
|
|
— |
|
|
409 |
|
Total Current Liabilities |
173 |
|
|
2,479 |
|
|
2,339 |
|
|
— |
|
|
4,991 |
|
Long-Term Debt |
— |
|
|
6,942 |
|
|
29 |
|
|
— |
|
|
6,971 |
|
Intercompany Payable |
— |
|
|
4,388 |
|
|
— |
|
|
(4,388 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
387 |
|
|
832 |
|
|
(19 |
) |
|
1,200 |
|
Other Liabilities |
53 |
|
|
786 |
|
|
1,100 |
|
|
— |
|
|
1,939 |
|
Shareholders’ Equity (Deficit) |
5,530 |
|
|
(922 |
) |
|
6,428 |
|
|
(5,506 |
) |
|
5,530 |
|
Total Liabilities and Shareholders’ Equity |
$ |
5,756 |
|
|
$ |
14,060 |
|
|
$ |
10,728 |
|
|
$ |
(9,913 |
) |
|
$ |
20,631 |
|
MACY’S, INC.
Condensed Consolidating Statement of Operations
For 2010
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
13,124 |
|
|
$ |
19,900 |
|
|
$ |
(8,021 |
) |
|
$ |
25,003 |
|
Cost of sales |
— |
|
|
(8,006 |
) |
|
(14,782 |
) |
|
7,964 |
|
|
(14,824 |
) |
Gross margin |
— |
|
|
5,118 |
|
|
5,118 |
|
|
(57 |
) |
|
10,179 |
|
Selling, general and administrative expenses |
(8 |
) |
|
(4,519 |
) |
|
(3,790 |
) |
|
57 |
|
|
(8,260 |
) |
Gain on sale of properties, impairments, store closing costs and division consolidation costs. |
— |
|
|
(21 |
) |
|
(4 |
) |
|
— |
|
|
(25 |
) |
Operating income (loss) |
(8 |
) |
|
578 |
|
|
1,324 |
|
|
— |
|
|
1,894 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
2 |
|
|
(575 |
) |
|
(1 |
) |
|
— |
|
|
(574 |
) |
Intercompany |
(2 |
) |
|
(165 |
) |
|
167 |
|
|
— |
|
|
— |
|
Equity in earnings of subsidiaries |
852 |
|
|
417 |
|
|
— |
|
|
(1,269 |
) |
|
— |
|
Income before income taxes |
844 |
|
|
255 |
|
|
1,490 |
|
|
(1,269 |
) |
|
1,320 |
|
Federal, state and local income tax benefit (expense) |
3 |
|
|
65 |
|
|
(541 |
) |
|
— |
|
|
(473 |
) |
Net income |
$ |
847 |
|
|
$ |
320 |
|
|
$ |
949 |
|
|
$ |
(1,269 |
) |
|
$ |
847 |
|
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2010
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income |
$ |
847 |
|
|
$ |
320 |
|
|
$ |
949 |
|
|
$ |
(1,269 |
) |
|
$ |
847 |
|
Gain on sale of properties, impairments, store closing costs and division consolidation costs |
— |
|
|
21 |
|
|
4 |
|
|
— |
|
|
25 |
|
Equity in earnings of subsidiaries |
(852 |
) |
|
(417 |
) |
|
— |
|
|
1,269 |
|
|
— |
|
Dividends received from subsidiaries |
541 |
|
|
250 |
|
|
— |
|
|
(791 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
566 |
|
|
584 |
|
|
— |
|
|
1,150 |
|
(Increase) decrease in working capital |
179 |
|
|
(454 |
) |
|
232 |
|
|
— |
|
|
(43 |
) |
Other, net |
8 |
|
|
(526 |
) |
|
45 |
|
|
— |
|
|
(473 |
) |
Net cash provided (used) by operating activities |
723 |
|
|
(240 |
) |
|
1,814 |
|
|
(791 |
) |
|
1,506 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(178 |
) |
|
(247 |
) |
|
— |
|
|
(425 |
) |
Other, net |
— |
|
|
— |
|
|
(40 |
) |
|
— |
|
|
(40 |
) |
Net cash used by investing activities |
— |
|
|
(178 |
) |
|
(287 |
) |
|
— |
|
|
(465 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt repaid |
— |
|
|
(1,242 |
) |
|
(3 |
) |
|
— |
|
|
(1,245 |
) |
Dividends paid |
(84 |
) |
|
— |
|
|
(791 |
) |
|
791 |
|
|
(84 |
) |
Issuance of common stock, net of common stock acquired |
42 |
|
|
— |
|
|
— |
|
|
— |
|
|
42 |
|
Intercompany activity, net |
(710 |
) |
|
1,656 |
|
|
(946 |
) |
|
— |
|
|
— |
|
Other, net |
(115 |
) |
|
(15 |
) |
|
154 |
|
|
— |
|
|
24 |
|
Net cash provided (used) by
financing activities |
(867 |
) |
|
399 |
|
|
(1,586 |
) |
|
791 |
|
|
(1,263 |
) |
Net decrease in cash and cash equivalents |
(144 |
) |
|
(19 |
) |
|
(59 |
) |
|
— |
|
|
(222 |
) |
Cash and cash equivalents at beginning of period |
1,318 |
|
|
60 |
|
|
308 |
|
|
— |
|
|
1,686 |
|
Cash and cash equivalents at end of period |
$ |
1,174 |
|
|
$ |
41 |
|
|
$ |
249 |
|
|
$ |
— |
|
|
$ |
1,464 |
|
MACY’S, INC.
Condensed Consolidating Statement of Operations
For 2009
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
12,791 |
|
|
$ |
16,700 |
|
|
$ |
(6,002 |
) |
|
$ |
23,489 |
|
Cost of sales |
— |
|
|
(7,836 |
) |
|
(12,073 |
) |
|
5,936 |
|
|
(13,973 |
) |
Gross margin |
— |
|
|
4,955 |
|
|
4,627 |
|
|
(66 |
) |
|
9,516 |
|
Selling, general and administrative expenses |
(8 |
) |
|
(4,616 |
) |
|
(3,504 |
) |
|
66 |
|
|
(8,062 |
) |
Gain on sale of properties, impairments, store closing costs and division consolidation costs. |
— |
|
|
(226 |
) |
|
(165 |
) |
|
— |
|
|
(391 |
) |
Operating income (loss) |
(8 |
) |
|
113 |
|
|
958 |
|
|
— |
|
|
1,063 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
3 |
|
|
(558 |
) |
|
(1 |
) |
|
— |
|
|
(556 |
) |
Intercompany |
(2 |
) |
|
(153 |
) |
|
155 |
|
|
— |
|
|
— |
|
Equity in earnings of subsidiaries |
333 |
|
|
201 |
|
|
— |
|
|
(534 |
) |
|
— |
|
Income (loss) before income taxes |
326 |
|
|
(397 |
) |
|
1,112 |
|
|
(534 |
) |
|
507 |
|
Federal, state and local income tax benefit (expense) |
3 |
|
|
232 |
|
|
(413 |
) |
|
— |
|
|
(178 |
) |
Net income (loss) |
$ |
329 |
|
|
$ |
(165 |
) |
|
$ |
699 |
|
|
$ |
(534 |
) |
|
$ |
329 |
|
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2009
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income (loss) |
$ |
329 |
|
|
$ |
(165 |
) |
|
$ |
699 |
|
|
$ |
(534 |
) |
|
$ |
329 |
|
Gain on sale of properties, impairments, store closing costs and division consolidation costs |
— |
|
|
226 |
|
|
165 |
|
|
— |
|
|
391 |
|
Equity in earnings of subsidiaries |
(333 |
) |
|
(201 |
) |
|
— |
|
|
534 |
|
|
— |
|
Dividends received from subsidiaries |
436 |
|
|
60 |
|
|
— |
|
|
(496 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
619 |
|
|
591 |
|
|
— |
|
|
1,210 |
|
(Increase) decrease in working capital |
114 |
|
|
163 |
|
|
(245 |
) |
|
— |
|
|
32 |
|
Other, net |
73 |
|
|
(96 |
) |
|
(189 |
) |
|
— |
|
|
(212 |
) |
Net cash provided by operating activities |
619 |
|
|
606 |
|
|
1,021 |
|
|
(496 |
) |
|
1,750 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(147 |
) |
|
(227 |
) |
|
— |
|
|
(374 |
) |
Other, net |
— |
|
|
— |
|
|
(3 |
) |
|
— |
|
|
(3 |
) |
Net cash used by investing activities |
— |
|
|
(147 |
) |
|
(230 |
) |
|
— |
|
|
(377 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt repaid |
— |
|
|
(963 |
) |
|
(3 |
) |
|
— |
|
|
(966 |
) |
Dividends paid |
(84 |
) |
|
— |
|
|
(496 |
) |
|
496 |
|
|
(84 |
) |
Issuance of common stock, net of common stock acquired |
7 |
|
|
— |
|
|
— |
|
|
— |
|
|
7 |
|
Intercompany activity, net |
(247 |
) |
|
493 |
|
|
(246 |
) |
|
— |
|
|
— |
|
Other, net |
(24 |
) |
|
3 |
|
|
(8 |
) |
|
— |
|
|
(29 |
) |
Net cash used by financing activities |
(348 |
) |
|
(467 |
) |
|
(753 |
) |
|
496 |
|
|
(1,072 |
) |
Net increase (decrease) in cash and cash equivalents |
271 |
|
|
(8 |
) |
|
38 |
|
|
— |
|
|
301 |
|
Cash and cash equivalents at beginning of period |
1,047 |
|
|
68 |
|
|
270 |
|
|
— |
|
|
1,385 |
|
Cash and cash equivalents at end of period |
$ |
1,318 |
|
|
$ |
60 |
|
|
$ |
308 |
|
|
$ |
— |
|
|
$ |
1,686 |
|
|