Financial Information For The Company And Its Subsidiaries (Tables)

12 Months Ended

Feb. 02, 2013

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets:
Cash and cash equivalents	$	–	$	32,060	$	36,163	$	–	$	68,223
Receivables		70,308		18,088		37,287		–		125,683
Inventories		94,817		421,914		16,544		–		533,275
Prepaid expenses and other current assets		15,099		29,136		1,012		–		45,247
Total current assets		180,224		501,198		91,006		–		772,428
Other assets		99,527		19,739		848		–		120,114
Goodwill and intangible assets, net		37,270		19,901		75,457		–		132,628
Property and equipment, net		27,931		109,457		8,701		–		146,089
Investment in subsidiaries		765,729		91,136		113,033		(969,898)		–
Total assets	$	1,110,681	$	741,431	$	289,045	$	(969,898)	$	1,171,259
Current liabilities:
Borrowings under revolving credit agreement	$	105,000	$	–	$	–	$	–	$	105,000
Trade accounts payable		54,126		126,293		42,323		–		222,742
Other accrued expenses		54,729		79,492		7,146		–		141,367
Total current liabilities		213,855		205,785		49,469		–		469,109
Other liabilities:
Long-term debt		198,823		–		–		–		198,823
Other liabilities		15,897		46,658		14,871		–		77,426
Intercompany payable (receivable)		256,977		(389,774)		132,797		–		–
Total other liabilities		471,697		(343,116)		147,668		–		276,249
Equity:
Brown Shoe Company, Inc. shareholders’ equity		425,129		878,762		91,136		(969,898)		425,129
Noncontrolling interests		–		–		772		–		772
Total equity		425,129		878,762		91,908		(969,898)		425,901
Total liabilities and equity	$	1,110,681	$	741,431	$	289,045	$	(969,898)	$	1,171,259

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JANUARY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets:
Cash and cash equivalents	$	(4,386)	$	34,332	$	17,736	$	–	$	47,682
Receivables		78,129		24,082		51,811		–		154,022
Inventories		129,776		418,264		13,757		–		561,797
Prepaid expenses and other current assets		35,625		14,685		1,327		–		51,637
Total current assets		239,144		491,363		84,631		–		815,138
Other assets		115,515		23,844		918		–		140,277
Goodwill and intangible assets, net		47,765		16,160		76,665		–		140,590
Property and equipment, net		23,621		97,887		9,963		–		131,471
Investment in subsidiaries		813,602		68,057		–		(881,659)		–
Total assets	$	1,239,647	$	697,311	$	172,177	$	(881,659)	$	1,227,476
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement	$	201,000	$	–	$	–	$	–	$	201,000
Trade accounts payable		49,238		92,431		48,942		–		190,611
Other accrued expenses		60,079		65,676		7,214		–		132,969
Total current liabilities		310,317		158,107		56,156		–		524,580
Other liabilities:
Long-term debt		198,633		–		–		–		198,633
Other liabilities		29,702		46,717		14,128		–		90,547
Intercompany payable (receivable)		288,326		(321,115)		32,789		–		–
Total other liabilities		516,661		(274,398)		46,917		–		289,180
Equity:
Brown Shoe Company, Inc. shareholders’ equity		412,669		813,602		68,057		(881,659)		412,669
Noncontrolling interests		–		–		1,047		–		1,047
Total equity		412,669		813,602		69,104		(881,659)		413,716
Total liabilities and equity	$	1,239,647	$	697,311	$	172,177	$	(881,659)	$	1,227,476

Schedule of Condensed Consolidating Statement Of Earnings

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	732,350	$	1,882,809	$	191,994	$	(209,088)	$	2,598,065
Cost of goods sold		566,045		1,076,068		154,681		(209,088)		1,587,706
Gross profit		166,305		806,741		37,313		–		1,010,359
Selling and administrative expenses		193,763		714,434		10,760		–		918,957
Restructuring and other special charges, net		12,533		11,485		–		–		24,018
Impairment of intangible assets		5,777		–		–		–		5,777
Equity in (earnings) loss of subsidiary		(65,160)		(23,079)		–		88,239		–
Operating earnings (loss)		19,392		103,901		26,553		(88,239)		61,607
Interest expense		(23,378)		(4)		–		–		(23,382)
Interest income		10		258		54		–		322
Intercompany interest income (expense)		13,073		(13,525)		452		–		–
Earnings (loss) before income taxes from continuing operations		9,097		90,630		27,059		(88,239)		38,547
Income tax benefit (provision)		18,394		(25,470)		(4,267)		–		(11,343)
Net earnings (loss) from continuing operations		27,491		65,160		22,792		(88,239)		27,204
Net loss attributable to noncontrolling interests		–		–		(287)		–		(287)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	27,491	$	65,160	$	23,079	$	(88,239)	$	27,491

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	691,008	$	1,857,192	$	219,939	$	(185,315)	$	2,582,824
Cost of goods sold		529,087		1,061,312		181,100		(185,315)		1,586,184
Gross profit		161,921		795,880		38,839		–		996,640
Selling and administrative expenses		168,414		715,987		53,018		–		937,419
Restructuring and other special charges, net		20,308		3,363		–		–		23,671
Equity in (earnings) loss of subsidiaries		(49,662)		14,613		–		35,049		–
Operating earnings (loss)		22,861		61,917		(14,179)		(35,049)		35,550
Interest expense		(26,113)		(633)		605		–		(26,141)
Loss on early extinguishment of debt		(1,003)		–		–		–		(1,003)
Interest income		1		247		396		–		644
Intercompany interest income (expense)		15,714		(15,098)		(616)		–		–
Earnings (loss) before income taxes from continuing operations		11,460		46,433		(13,794)		(35,049)		9,050
Income tax benefit (provision)		13,129		(12,437)		(1,018)		–		(326)
Net earnings (loss) from continuing operations		24,589		33,996		(14,812)		(35,049)		8,724
Discontinued operations:
Earnings from operations of subsidiary, net of tax		–		1,701		–		–		1,701
Gain on sale of subsidiary, net of tax		–		13,965		–		–		13,965
Net earnings from discontinued operations		–		15,666		–		–		15,666
Net earnings (loss)		24,589		49,662		(14,812)		(35,049)		24,390
Net loss attributable to noncontrolling interests		–		–		(199)		–		(199)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	24,589	$	49,662	$	(14,613)	$	(35,049)	$	24,589

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 29, 2011
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	714,388	$	1,768,767	$	216,604	$	(195,668)	$	2,504,091
Cost of goods sold		545,219		967,712		183,274		(195,668)		1,500,537
Gross profit		169,169		801,055		33,330		–		1,003,554
Selling and administrative expenses		190,586		717,775		14,615		–		922,976
Restructuring and other special charges, net		7,209		–		705		–		7,914
Equity in (earnings) loss of subsidiaries		(58,275)		(11,860)		–		70,135		–
Operating earnings (loss)		29,649		95,140		18,010		(70,135)		72,664
Interest expense		(19,643)		(4)		–		–		(19,647)
Interest income		1		76		126		–		203
Intercompany interest income (expense)		14,961		(11,212)		(3,749)		–		–
Earnings (loss) before income taxes		24,968		84,000		14,387		(70,135)		53,220
Income tax benefit (provision)		12,265		(25,415)		(3,010)		–		(16,160)
Net earnings (loss)		37,233		58,585		11,377		(70,135)		37,060
Net earnings (loss) attributable to noncontrolling interests		–		310		(483)		–		(173)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	37,233	$	58,275	$	11,860	$	(70,135)	$	37,233

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations		Total
Net earnings (loss)	$	27,491	$	65,160	$	22,792	$	(88,239)	$	27,204
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment		–		475		–		–		475
Pension and other postretirement benefits adjustments		(8,871)		(190)		–		–		(9,061)
Unrealized loss on derivative financial instruments, net of tax		(49)		(353)		–		–		(402)
Net loss from derivatives reclassified into earnings, net of tax		183		64		–		–		247
Other comprehensive loss, net of tax		(8,737)		(4)		–		–		(8,741)
Comprehensive income (loss)		18,754		65,156		22,792		(88,239)		18,463
Comprehensive loss attributable to noncontrolling interest		–		–		(275)		–		(275)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	18,754	$	65,156	$	23,067	$	(88,239)	$	18,738

						Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations		Total
Net earnings (loss)	$	24,589	$	49,662	$	(14,812)	$	(35,049)	$	24,390
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		–		1,320		(1,113)		–		207
Pension and other postretirement benefits adjustments		3,358		(417)		–		–		2,941
Unrealized (loss) gain on derivative financial instruments, net of tax		(36)		379		–		–		343
Net loss from derivatives reclassified into earnings, net of tax		22		22		–		–		44
Other comprehensive income (loss), net of tax		3,344		1,304		(1,113)		–		3,535
Comprehensive income (loss)		27,933		50,966		(15,925)		(35,049)		27,925
Comprehensive loss attributable to noncontrolling interest		–		–		(160)		–		(160)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	27,933	$	50,966	$	(15,765)	$	(35,049)	$	28,085

							Non-
($ thousands)	Parent		Guarantors			Guarantors		Eliminations		Total
Net earnings (loss)	$	37,233	$	58,585		$	11,377	$	(70,135)	$	37,060
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		–		2,150			–		–		2,150
Pension and other postretirement benefits adjustments		3,450		(17)			–		–		3,433
Unrealized (loss) gain on derivative financial instruments, net of tax		(80)		251			–		–		171
Net loss from derivatives reclassified into earnings, net of tax		208		25			–		–		233
Other comprehensive income, net of tax		3,578		2,409			–		–		5,987
Comprehensive income (loss)		40,811		60,994			11,377		(70,135)		43,047
Comprehensive income (loss) attributable to noncontrolling interest		–		310			(460)		–		(150)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	40,811	$	60,684	$		11,837	$	(70,135)	$	43,197

Schedule Of Condensed Consolidating Statement Of Cash Flows

					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by (used for) operating activities	$	53,628	$	110,422	$	33,887	$	–	$	197,937
Investing activities
Purchases of property and equipment		(10,132)		(43,711)		(1,958)		–		(55,801)
Capitalized software		(7,925)		–		(3)		–		(7,928)
Acquisition cost		–		(5,000)		–		–		(5,000)
Net cash used for investing activities		(18,057)		(48,711)		(1,961)		–		(68,729)
Financing activities
Borrowings under revolving credit agreement		805,000		–		–		–		805,000
Repayments under revolving credit agreement		(901,000)		–		–		–		(901,000)
Intercompany financing		77,582		(64,083)		(13,499)		–		–
Dividends paid		(12,011)		–		–		–		(12,011)
Issuance of common stock under share-based plans, net		(1,700)		–		–		–		(1,700)
Tax benefit related to share-based plans		944		–		–		–		944
Net cash (used for) financing activities		(31,185)		(64,083)		(13,499)		–		(108,767)
Effect of exchange rate changes on cash and cash equivalents		–		100		–		–		100
Increase (decrease) in cash and cash equivalents		4,386		(2,272)		18,427		–		20,541
Cash and cash equivalents at beginning of period		(4,386)		34,332		17,736		–		47,682
Cash and cash equivalents at end of period	$	–	$	32,060	$	36,163	$	–	$	68,223

						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash (used for) provided by operating activities	$	(205,188)	$	234,780	$	18,439	$	55	$	48,086
Investing activities
Purchases of property and equipment		(2,739)		(21,917)		(3,201)		–		(27,857)
Capitalized software		(10,419)		(288)		–		–		(10,707)
Acquisition cost		–		–		(156,636)		–		(156,636)
Cash recognized on initial consolidation		–		3,121		–		–		3,121
Net proceeds from sale of subsidiary		–		61,922		(6,572)		–		55,350
Net cash (used for) provided by investing activities		(13,158)		42,838		(166,409)		–		(136,729)
Financing activities
Borrowings under revolving credit agreement		1,595,500		–		–		–		1,595,500
Repayments under revolving credit agreement		(1,592,500)		–		–		–		(1,592,500)
Intercompany financing		205,689		(271,509)		65,875		(55)		–
Proceeds from issuance of 2019 Senior Notes		198,633		–		–		–		198,633
Redemption of 2012 Senior Notes		(150,000)		–		–		–		(150,000)
Dividends paid		(12,076)		–		–		–		(12,076)
Debt issuance costs		(6,428)		–		–		–		(6,428)
Acquisition of treasury stock		(25,484)		–		–		–		(25,484)
Issuance of common stock under share-based plans, net		918		–		–		–		918
Tax (deficiency) benefit related to share-based plans		(292)		1,292		–		–		1,000
Contributions by noncontrolling interests		–		–		378		–		378
Net cash provided by (used for) financing activities		213,960		(270,217)		66,253		(55)		9,941
Effect of exchange rate changes on cash and cash equivalents		–		(164)		–		–		(164)
(Decrease) increase in cash and cash equivalents		(4,386)		7,237		(81,717)		–		(78,866)
Cash and cash equivalents at beginning of period		–		27,095		99,453		–		126,548
Cash and cash equivalents at end of period	$	(4,386)	$	34,332	$	17,736	$	–	$	47,682

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED JANUARY 29, 2011
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by (used for) operating activities	$	64,824	$	(129,040)	$	61,904	$	–	$	(2,312)
Investing activities
Purchases of property and equipment		(4,863)		(25,126)		(792)		–		(30,781)
Capitalized software		(23,793)		(253)		–		–		(24,046)
Net cash used for investing activities		(28,656)		(25,379)		(792)		–		(54,827)
Financing activities
Borrowings under revolving credit agreement		1,051,500		–		–		–		1,051,500
Repayments under revolving credit agreement		(948,000)		–		–		–		(948,000)
Intercompany financing		(132,926)		206,664		(73,738)		–		–
Acquisition of noncontrolling interests (Edelman Shoe, Inc.)		7,309		(40,001)		–		–		(32,692)
Dividends paid		(12,254)		5,010		(5,010)		–		(12,254)
Debt issuance costs		(2,636)		–		–		–		(2,636)
Issuance of common stock under share-based plans, net		926		–		–		–		926
Contributions by noncontrolling interests		–		–		527		–		527
Tax deficiency related to share-based plans		(87)		–		–		–		(87)
Net cash (used for) provided by financing activities		(36,168)		171,673		(78,221)		–		57,284
Effect of exchange rate changes on cash and cash equivalents		–		570		–		–		570
Increase (decrease) in cash and cash equivalents		–		17,824		(17,109)		–		715
Cash and cash equivalents at beginning of period		–		9,271		116,562		–		125,833
Cash and cash equivalents at end of period	$	–	$	27,095	$	99,453	$	–	$	126,548