Condensed Consolidating Financial Information (Tables)
|
12 Months Ended |
Jan. 30, 2016 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Consolidating Balance Sheet |
MACY’S, INC.
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 |
— |
|
|
2,762 |
|
|
2,655 |
|
|
— |
|
|
5,417 |
|
Prepaid expenses and other current assets |
— |
|
|
113 |
|
|
380 |
|
|
— |
|
|
493 |
|
Income taxes |
88 |
|
|
— |
|
|
— |
|
|
(88 |
) |
|
— |
|
Total Current Assets |
1,996 |
|
|
3,066 |
|
|
3,606 |
|
|
(88 |
) |
|
8,580 |
|
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 |
|
|
42 |
|
|
668 |
|
|
— |
|
|
711 |
|
Deferred Income Taxes |
10 |
|
|
— |
|
|
— |
|
|
(10 |
) |
|
— |
|
Intercompany Receivable |
— |
|
|
— |
|
|
4,140 |
|
|
(4,140 |
) |
|
— |
|
Investment in Subsidiaries |
4,655 |
|
|
3,526 |
|
|
— |
|
|
(8,181 |
) |
|
— |
|
Total Assets |
$ |
6,662 |
|
|
$ |
14,337 |
|
|
$ |
12,750 |
|
|
$ |
(12,419 |
) |
|
$ |
21,330 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
75 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
76 |
|
Merchandise accounts payable |
— |
|
|
729 |
|
|
865 |
|
|
— |
|
|
1,594 |
|
Accounts payable and accrued liabilities |
42 |
|
|
1,360 |
|
|
1,707 |
|
|
— |
|
|
3,109 |
|
Income taxes |
— |
|
|
22 |
|
|
362 |
|
|
(88 |
) |
|
296 |
|
Total Current Liabilities |
42 |
|
|
2,186 |
|
|
2,935 |
|
|
(88 |
) |
|
5,075 |
|
Long-Term Debt |
— |
|
|
7,213 |
|
|
20 |
|
|
— |
|
|
7,233 |
|
Intercompany Payable |
1,215 |
|
|
2,925 |
|
|
— |
|
|
(4,140 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
709 |
|
|
744 |
|
|
(10 |
) |
|
1,443 |
|
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 |
|
|
$ |
14,337 |
|
|
$ |
12,750 |
|
|
$ |
(12,419 |
) |
|
$ |
21,330 |
|
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 30, 2016
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
ASSETS: |
|
|
|
|
|
|
|
|
|
Current Assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
741 |
|
|
$ |
91 |
|
|
$ |
277 |
|
|
$ |
— |
|
|
$ |
1,109 |
|
Receivables |
— |
|
|
217 |
|
|
341 |
|
|
— |
|
|
558 |
|
Merchandise inventories |
— |
|
|
2,702 |
|
|
2,804 |
|
|
— |
|
|
5,506 |
|
Prepaid expenses and other current assets |
— |
|
|
135 |
|
|
344 |
|
|
— |
|
|
479 |
|
Income taxes |
44 |
|
|
— |
|
|
— |
|
|
(44 |
) |
|
— |
|
Total Current Assets |
785 |
|
|
3,145 |
|
|
3,766 |
|
|
(44 |
) |
|
7,652 |
|
Property and Equipment – net |
— |
|
|
3,925 |
|
|
3,691 |
|
|
— |
|
|
7,616 |
|
Goodwill |
— |
|
|
3,315 |
|
|
582 |
|
|
— |
|
|
3,897 |
|
Other Intangible Assets – net |
— |
|
|
52 |
|
|
462 |
|
|
— |
|
|
514 |
|
Other Assets |
— |
|
|
154 |
|
|
743 |
|
|
— |
|
|
897 |
|
Deferred Income Taxes |
14 |
|
|
— |
|
|
— |
|
|
(14 |
) |
|
— |
|
Intercompany Receivable |
— |
|
|
— |
|
|
3,800 |
|
|
(3,800 |
) |
|
— |
|
Investment in Subsidiaries |
4,725 |
|
|
3,804 |
|
|
— |
|
|
(8,529 |
) |
|
— |
|
Total Assets |
$ |
5,524 |
|
|
$ |
14,395 |
|
|
$ |
13,044 |
|
|
$ |
(12,387 |
) |
|
$ |
20,576 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
|
Current Liabilities: |
|
|
|
|
|
|
|
|
|
Short-term debt |
$ |
— |
|
|
$ |
641 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
642 |
|
Merchandise accounts payable |
— |
|
|
667 |
|
|
859 |
|
|
— |
|
|
1,526 |
|
Accounts payable and accrued liabilities |
35 |
|
|
1,439 |
|
|
1,859 |
|
|
— |
|
|
3,333 |
|
Income taxes |
— |
|
|
41 |
|
|
230 |
|
|
(44 |
) |
|
227 |
|
Total Current Liabilities |
35 |
|
|
2,788 |
|
|
2,949 |
|
|
(44 |
) |
|
5,728 |
|
Long-Term Debt |
— |
|
|
6,976 |
|
|
19 |
|
|
— |
|
|
6,995 |
|
Intercompany Payable |
1,218 |
|
|
2,582 |
|
|
— |
|
|
(3,800 |
) |
|
— |
|
Deferred Income Taxes |
— |
|
|
693 |
|
|
798 |
|
|
(14 |
) |
|
1,477 |
|
Other Liabilities |
21 |
|
|
558 |
|
|
1,544 |
|
|
— |
|
|
2,123 |
|
Shareholders’ Equity: |
|
|
|
|
|
|
|
|
|
|
Macy's, Inc. |
4,250 |
|
|
798 |
|
|
7,731 |
|
|
(8,529 |
) |
|
4,250 |
|
Noncontrolling Interest |
— |
|
|
— |
|
|
3 |
|
|
— |
|
|
3 |
|
Total Shareholders’ Equity |
4,250 |
|
|
798 |
|
|
7,734 |
|
|
(8,529 |
) |
|
4,253 |
|
Total Liabilities and Shareholders’ Equity |
$ |
5,524 |
|
|
$ |
14,395 |
|
|
$ |
13,044 |
|
|
$ |
(12,387 |
) |
|
$ |
20,576 |
|
|
| Condensed Consolidating Statement of Comprehensive Income |
MACY’S, INC.
Condensed Consolidating Statement of Comprehensive Income
For 2015
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
11,959 |
|
|
$ |
24,037 |
|
|
$ |
(8,917 |
) |
|
$ |
27,079 |
|
Cost of sales |
— |
|
|
(7,670 |
) |
|
(17,743 |
) |
|
8,917 |
|
|
(16,496 |
) |
Gross margin |
— |
|
|
4,289 |
|
|
6,294 |
|
|
— |
|
|
10,583 |
|
Selling, general and administrative expenses |
(2 |
) |
|
(3,980 |
) |
|
(4,274 |
) |
|
— |
|
|
(8,256 |
) |
Impairments, store closing and other costs |
— |
|
|
(170 |
) |
|
(118 |
) |
|
— |
|
|
(288 |
) |
Operating income (loss) |
(2 |
) |
|
139 |
|
|
1,902 |
|
|
— |
|
|
2,039 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
1 |
|
|
(361 |
) |
|
(1 |
) |
|
— |
|
|
(361 |
) |
Intercompany |
— |
|
|
(230 |
) |
|
230 |
|
|
— |
|
|
— |
|
Equity in earnings of subsidiaries |
1,072 |
|
|
421 |
|
|
— |
|
|
(1,493 |
) |
|
— |
|
Income before income taxes |
1,071 |
|
|
(31 |
) |
|
2,131 |
|
|
(1,493 |
) |
|
1,678 |
|
Federal, state and local income
tax benefit (expense) |
1 |
|
|
120 |
|
|
(729 |
) |
|
— |
|
|
(608 |
) |
Net income |
1,072 |
|
|
89 |
|
|
1,402 |
|
|
(1,493 |
) |
|
1,070 |
|
Net loss attributable to noncontrolling interest |
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
2 |
|
|
Net income attributable to
Macy's, Inc. shareholders
|
$ |
1,072 |
|
|
$ |
89 |
|
|
$ |
1,404 |
|
|
$ |
(1,493 |
) |
|
$ |
1,072 |
|
Comprehensive income |
$ |
1,101 |
|
|
$ |
118 |
|
|
$ |
1,415 |
|
|
$ |
(1,535 |
) |
|
$ |
1,099 |
|
|
Comprehensive loss attributable to
noncontrolling interest
|
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
2 |
|
|
Comprehensive income attributable to
Macy's, Inc. shareholders
|
$ |
1,101 |
|
|
$ |
118 |
|
|
$ |
1,417 |
|
|
$ |
(1,535 |
) |
|
$ |
1,101 |
|
MACY’S, INC.
Condensed Consolidating Statement of Comprehensive Income
For 2014
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
13,078 |
|
|
$ |
23,522 |
|
|
$ |
(8,495 |
) |
|
$ |
28,105 |
|
Cost of sales |
— |
|
|
(8,127 |
) |
|
(17,231 |
) |
|
8,495 |
|
|
(16,863 |
) |
Gross margin |
— |
|
|
4,951 |
|
|
6,291 |
|
|
— |
|
|
11,242 |
|
Selling, general and administrative expenses |
(3 |
) |
|
(4,351 |
) |
|
(4,001 |
) |
|
— |
|
|
(8,355 |
) |
Impairments, store closing and other costs |
— |
|
|
(45 |
) |
|
(42 |
) |
|
— |
|
|
(87 |
) |
Operating income (loss) |
(3 |
) |
|
555 |
|
|
2,248 |
|
|
— |
|
|
2,800 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
1 |
|
|
(394 |
) |
|
— |
|
|
— |
|
|
(393 |
) |
Intercompany |
— |
|
|
(230 |
) |
|
230 |
|
|
— |
|
|
— |
|
Premium on early retirement of debt |
— |
|
|
(17 |
) |
|
— |
|
|
— |
|
|
(17 |
) |
Equity in earnings of subsidiaries |
1,528 |
|
|
624 |
|
|
— |
|
|
(2,152 |
) |
|
— |
|
Income before income taxes |
1,526 |
|
|
538 |
|
|
2,478 |
|
|
(2,152 |
) |
|
2,390 |
|
Federal, state and local income
tax benefit (expense) |
— |
|
|
25 |
|
|
(889 |
) |
|
— |
|
|
(864 |
) |
Net income |
1,526 |
|
|
563 |
|
|
1,589 |
|
|
(2,152 |
) |
|
1,526 |
|
Net loss attributable to noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net income attributable to
Macy's, Inc. shareholders |
$ |
1,526 |
|
|
$ |
563 |
|
|
$ |
1,589 |
|
|
$ |
(2,152 |
) |
|
$ |
1,526 |
|
Comprehensive income |
$ |
1,119 |
|
|
$ |
156 |
|
|
$ |
1,338 |
|
|
$ |
(1,494 |
) |
|
$ |
1,119 |
|
Comprehensive loss attributable to
noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Comprehensive income attributable to
Macy's, Inc. shareholders |
$ |
1,119 |
|
|
$ |
156 |
|
|
$ |
1,338 |
|
|
$ |
(1,494 |
) |
|
$ |
1,119 |
|
MACY’S, INC.
Condensed Consolidating Statement of Comprehensive Income
For 2013
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Net sales |
$ |
— |
|
|
$ |
13,233 |
|
|
$ |
23,417 |
|
|
$ |
(8,719 |
) |
|
$ |
27,931 |
|
Cost of sales |
— |
|
|
(8,168 |
) |
|
(17,276 |
) |
|
8,719 |
|
|
(16,725 |
) |
Gross margin |
— |
|
|
5,065 |
|
|
6,141 |
|
|
— |
|
|
11,206 |
|
Selling, general and administrative expenses |
(8 |
) |
|
(4,443 |
) |
|
(3,989 |
) |
|
— |
|
|
(8,440 |
) |
Impairments, store closing and other costs |
— |
|
|
(37 |
) |
|
(51 |
) |
|
— |
|
|
(88 |
) |
Operating income (loss) |
(8 |
) |
|
585 |
|
|
2,101 |
|
|
— |
|
|
2,678 |
|
Interest (expense) income, net: |
|
|
|
|
|
|
|
|
|
External |
1 |
|
|
(388 |
) |
|
(1 |
) |
|
— |
|
|
(388 |
) |
Intercompany |
(2 |
) |
|
(176 |
) |
|
178 |
|
|
— |
|
|
— |
|
Equity in earnings of subsidiaries |
1,492 |
|
|
557 |
|
|
— |
|
|
(2,049 |
) |
|
— |
|
Income before income taxes |
1,483 |
|
|
578 |
|
|
2,278 |
|
|
(2,049 |
) |
|
2,290 |
|
Federal, state and local income
tax benefit (expense) |
3 |
|
|
33 |
|
|
(840 |
) |
|
— |
|
|
(804 |
) |
Net income |
1,486 |
|
|
611 |
|
|
1,438 |
|
|
(2,049 |
) |
|
1,486 |
|
Net loss attributable to noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Net income attributable to
Macy's, Inc. shareholders |
$ |
1,486 |
|
|
$ |
611 |
|
|
$ |
1,438 |
|
|
$ |
(2,049 |
) |
|
$ |
1,486 |
|
Comprehensive income |
$ |
1,752 |
|
|
$ |
877 |
|
|
$ |
1,434 |
|
|
$ |
(2,311 |
) |
|
$ |
1,752 |
|
Comprehensive loss attributable to
noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Comprehensive income attributable to
Macy's, Inc. shareholders |
$ |
1,752 |
|
|
$ |
877 |
|
|
$ |
1,434 |
|
|
$ |
(2,311 |
) |
|
$ |
1,752 |
|
|
| Condensed Consolidating Statement of Cash Flows |
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2015
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income |
$ |
1,072 |
|
|
$ |
89 |
|
|
$ |
1,402 |
|
|
$ |
(1,493 |
) |
|
$ |
1,070 |
|
Impairments, store closing and other costs |
— |
|
|
170 |
|
|
118 |
|
|
— |
|
|
288 |
|
Equity in earnings of subsidiaries |
(1,072 |
) |
|
(421 |
) |
|
— |
|
|
1,493 |
|
|
— |
|
Dividends received from subsidiaries |
1,086 |
|
|
— |
|
|
— |
|
|
(1,086 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
440 |
|
|
621 |
|
|
— |
|
|
1,061 |
|
(Increase) decrease in working capital |
25 |
|
|
(340 |
) |
|
(81 |
) |
|
— |
|
|
(396 |
) |
Other, net |
(8 |
) |
|
(78 |
) |
|
47 |
|
|
— |
|
|
(39 |
) |
Net cash provided (used) by
operating activities |
1,103 |
|
|
(140 |
) |
|
2,107 |
|
|
(1,086 |
) |
|
1,984 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(88 |
) |
|
(821 |
) |
|
— |
|
|
(909 |
) |
Other, net |
— |
|
|
83 |
|
|
(266 |
) |
|
— |
|
|
(183 |
) |
Net cash used by investing activities |
— |
|
|
(5 |
) |
|
(1,087 |
) |
|
— |
|
|
(1,092 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt issued, net of debt repaid |
— |
|
|
348 |
|
|
(1 |
) |
|
— |
|
|
347 |
|
Dividends paid |
(456 |
) |
|
— |
|
|
(1,086 |
) |
|
1,086 |
|
|
(456 |
) |
Common stock acquired, net of
issuance of common stock |
(1,838 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,838 |
) |
Proceeds from noncontrolling interest |
— |
|
|
— |
|
|
5 |
|
|
— |
|
|
5 |
|
Intercompany activity, net |
12 |
|
|
(243 |
) |
|
231 |
|
|
— |
|
|
— |
|
Other, net |
12 |
|
|
37 |
|
|
(136 |
) |
|
— |
|
|
(87 |
) |
Net cash provided (used) by
financing activities |
(2,270 |
) |
|
142 |
|
|
(987 |
) |
|
1,086 |
|
|
(2,029 |
) |
Net increase (decrease) in cash
and cash equivalents |
(1,167 |
) |
|
(3 |
) |
|
33 |
|
|
— |
|
|
(1,137 |
) |
Cash and cash equivalents at
beginning of period |
1,908 |
|
|
94 |
|
|
244 |
|
|
— |
|
|
2,246 |
|
Cash and cash equivalents at
end of period |
$ |
741 |
|
|
$ |
91 |
|
|
$ |
277 |
|
|
$ |
— |
|
|
$ |
1,109 |
|
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2014
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income |
$ |
1,526 |
|
|
$ |
563 |
|
|
$ |
1,589 |
|
|
$ |
(2,152 |
) |
|
$ |
1,526 |
|
Impairments, store closing and other costs |
— |
|
|
45 |
|
|
42 |
|
|
— |
|
|
87 |
|
Equity in earnings of subsidiaries |
(1,528 |
) |
|
(624 |
) |
|
— |
|
|
2,152 |
|
|
— |
|
Dividends received from subsidiaries |
1,088 |
|
|
1 |
|
|
— |
|
|
(1,089 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
454 |
|
|
582 |
|
|
— |
|
|
1,036 |
|
(Increase) decrease in working capital |
9 |
|
|
74 |
|
|
(69 |
) |
|
— |
|
|
14 |
|
Other, net |
(20 |
) |
|
(177 |
) |
|
243 |
|
|
— |
|
|
46 |
|
Net cash provided by
operating activities |
1,075 |
|
|
336 |
|
|
2,387 |
|
|
(1,089 |
) |
|
2,709 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(260 |
) |
|
(636 |
) |
|
— |
|
|
(896 |
) |
Other, net |
— |
|
|
(12 |
) |
|
(62 |
) |
|
— |
|
|
(74 |
) |
Net cash used by
investing activities |
— |
|
|
(272 |
) |
|
(698 |
) |
|
— |
|
|
(970 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt issued, net of debt repaid |
— |
|
|
177 |
|
|
(3 |
) |
|
— |
|
|
174 |
|
Dividends paid |
(421 |
) |
|
— |
|
|
(1,089 |
) |
|
1,089 |
|
|
(421 |
) |
Common stock acquired, net of
issuance of common stock |
(1,643 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,643 |
) |
Proceeds from noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Intercompany activity, net |
927 |
|
|
(283 |
) |
|
(644 |
) |
|
— |
|
|
— |
|
Other, net |
15 |
|
|
52 |
|
|
57 |
|
|
— |
|
|
124 |
|
Net cash used by financing activities |
(1,122 |
) |
|
(54 |
) |
|
(1,679 |
) |
|
1,089 |
|
|
(1,766 |
) |
Net increase (decrease) in
cash and cash equivalents |
(47 |
) |
|
10 |
|
|
10 |
|
|
— |
|
|
(27 |
) |
Cash and cash equivalents at
beginning of period |
1,955 |
|
|
84 |
|
|
234 |
|
|
— |
|
|
2,273 |
|
Cash and cash equivalents at
end of period |
$ |
1,908 |
|
|
$ |
94 |
|
|
$ |
244 |
|
|
$ |
— |
|
|
$ |
2,246 |
|
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2013
(millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
Subsidiary
Issuer
|
|
Other
Subsidiaries
|
|
Consolidating
Adjustments
|
|
Consolidated |
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net income |
$ |
1,486 |
|
|
$ |
611 |
|
|
$ |
1,438 |
|
|
$ |
(2,049 |
) |
|
$ |
1,486 |
|
Impairments, store closing and other costs |
— |
|
|
37 |
|
|
51 |
|
|
— |
|
|
88 |
|
Equity in earnings of subsidiaries |
(1,492 |
) |
|
(557 |
) |
|
— |
|
|
2,049 |
|
|
— |
|
Dividends received from subsidiaries |
911 |
|
|
4 |
|
|
— |
|
|
(915 |
) |
|
— |
|
Depreciation and amortization |
— |
|
|
467 |
|
|
553 |
|
|
— |
|
|
1,020 |
|
Increase in working capital |
(54 |
) |
|
12 |
|
|
(111 |
) |
|
— |
|
|
(153 |
) |
Other, net |
(25 |
) |
|
158 |
|
|
(25 |
) |
|
— |
|
|
108 |
|
Net cash provided by
operating activities |
826 |
|
|
732 |
|
|
1,906 |
|
|
(915 |
) |
|
2,549 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Purchase of property and equipment and capitalized software, net |
— |
|
|
(289 |
) |
|
(442 |
) |
|
— |
|
|
(731 |
) |
Other, net |
— |
|
|
(6 |
) |
|
(51 |
) |
|
— |
|
|
(57 |
) |
Net cash used by
investing activities |
— |
|
|
(295 |
) |
|
(493 |
) |
|
— |
|
|
(788 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Debt repaid, net of debt issued |
— |
|
|
278 |
|
|
(2 |
) |
|
— |
|
|
276 |
|
Dividends paid |
(359 |
) |
|
— |
|
|
(915 |
) |
|
915 |
|
|
(359 |
) |
Common stock acquired, net of
issuance of common stock |
(1,256 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,256 |
) |
Proceeds from noncontrolling interest |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Intercompany activity, net |
1,310 |
|
|
(728 |
) |
|
(582 |
) |
|
— |
|
|
— |
|
Other, net |
(104 |
) |
|
56 |
|
|
63 |
|
|
— |
|
|
15 |
|
Net cash used by
financing activities |
(409 |
) |
|
(394 |
) |
|
(1,436 |
) |
|
915 |
|
|
(1,324 |
) |
Net increase (decrease) in cash
and cash equivalents |
417 |
|
|
43 |
|
|
(23 |
) |
|
— |
|
|
437 |
|
Cash and cash equivalents at
beginning of period |
1,538 |
|
|
41 |
|
|
257 |
|
|
— |
|
|
1,836 |
|
Cash and cash equivalents at
end of period |
$ |
1,955 |
|
|
$ |
84 |
|
|
$ |
234 |
|
|
$ |
— |
|
|
$ |
2,273 |
|
|