Financial Information For The Company And Its Subsidiaries (Tables)

3 Months Ended

May 04, 2013

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF MAY 4, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	29,202	$	15,467	$	–	$	44,669
Receivables, net		67,017		6,079		23,638		–		96,734
Inventories, net		79,768		400,139		6,016		–		485,923
Prepaid expenses and other current assets		41,977		1,251		(61)		–		43,167
Current assets - held for sale		–		–		12,496		–		12,496
Current assets - discontinued operations		2,542		36,605		12		–		39,159
Total current assets		191,304		473,276		57,568		–		722,148
Other assets		98,431		16,562		598		–		115,591
Goodwill and intangible assets, net		36,203		19,538		25,255		–		80,996
Non current assets - discontinued operations		–		1,321		37,352		–		38,673
Property and equipment, net		26,484		108,416		2,399		–		137,299
Investment in subsidiaries		759,545		(28,096)		(3,597)		(727,852)		–
Total assets	$	1,111,967	$	591,017	$	119,575	$	(727,852)	$	1,094,707
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	66,000	$	–	$	–	$	–	$	66,000
Trade accounts payable		31,065		129,630		28,253		–		188,948
Other accrued expenses		55,497		59,651		3,484		–		118,632
Current liabilities - held for sale		–		–		5,306		–		5,306
Current liabilities - discontinued operations		11,343		4,796		44		–		16,183
Total current liabilities		163,905		194,077		37,087		–		395,069
Other liabilities
Long-term debt		198,870		–		–		–		198,870
Other liabilities		26,685		50,003		4,378		–		81,066
Non current liabilities - discontinued operations		(1,105)		(2,535)		10,408		–		6,768
Intercompany payable (receivable)		311,422		(410,073)		98,651		–		–
Total other liabilities		535,872		(362,605)		113,437		–		286,704
Equity
Brown Shoe Company, Inc. shareholders’ equity		412,190		759,545		(31,693)		(727,852)		412,190
Noncontrolling interests		–		–		744		–		744
Total equity		412,190		759,545		(30,949)		(727,852)		412,934
Total liabilities and equity	$	1,111,967	$	591,017	$	119,575	$	(727,852)	$	1,094,707

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, net		67,571		6,593		37,228		–		111,392
Inventories, net		92,683		394,468		16,537		–		503,688
Prepaid expenses and other current assets		14,523		26,524		969		–		42,016
Current assets - discontinued operations		5,447		41,553		109		–		47,109
Total current assets		180,224		501,198		91,006		–		772,428
Other assets		99,527		19,320		848		–		119,695
Goodwill and intangible assets, net		37,270		19,901		25,333		–		82,504
Non current assets - discontinued operations		–		1,652		50,124		–		51,776
Property and equipment, net		27,931		108,224		8,701		–		144,856
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
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	105,000	$	–	$	–	$	–	$	105,000
Trade accounts payable		53,350		118,096		42,214		–		213,660
Other accrued expenses		51,751		78,293		7,146		–		137,190
Current liabilities - discontinued operations		3,754		9,396		109		–		13,259
Total current liabilities		213,855		205,785		49,469		–		469,109
Other liabilities
Long-term debt		198,823		–		–		–		198,823
Other liabilities		17,042		48,986		4,402		–		70,430
Non current liabilities - discontinued operations		(1,145)		(2,328)		10,469		–		6,996
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

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF APRIL 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	27,450	$	12,342	$	–	$	39,792
Receivables, net		84,634		6,305		24,972		–		115,911
Inventories, net		70,581		391,630		13,346		–		475,557
Prepaid expenses and other current assets		38,498		1,565		1,312		–		41,375
Current assets - discontinued operations		14,327		51,127		61		–		65,515
Total current assets		208,040		478,077		52,033		–		738,150
Other assets		117,615		18,999		865		–		137,479
Goodwill and intangible assets, net		40,467		15,880		25,628		–		81,975
Non current assets - discontinued operations		5,981		1,945		50,741		–		58,667
Property and equipment, net		23,463		91,560		9,528		–		124,551
Investment in subsidiaries		817,259		63,885		–		(881,144)		–
Total assets	$	1,212,825	$	670,346	$	138,795	$	(881,144)	$	1,140,822
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	124,000	$	–	$	–	$	–	$	124,000
Trade accounts payable		22,435		116,475		33,984		–		172,894
Other accrued expenses		50,613		69,069		10,170		–		129,852
Current liabilities - discontinued operations		7,098		7,961		59		–		15,118
Total current liabilities		204,146		193,505		44,213		–		441,864
Other liabilities
Long-term debt		198,680		–		–		–		198,680
Other liabilities		29,352		46,997		966		–		77,315
Non current liabilities - discontinued operations		–		(2,991)		12,960		–		9,969
Intercompany payable (receivable)		368,635		(384,424)		15,789		–		–
Total other liabilities		596,667		(340,418)		29,715		–		285,964
Equity
Brown Shoe Company, Inc. shareholders’ equity		412,012		817,259		63,885		(881,144)		412,012
Noncontrolling interests		–		–		982		–		982
Total equity		412,012		817,259		64,867		(881,144)		412,994
Total liabilities and equity	$	1,212,825	$	670,346	$	138,795	$	(881,144)	$	1,140,822

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED MAY 4, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	158,781	$	418,538	$	42,604	$	(31,267)	$	588,656
Cost of goods sold		116,330		229,956		33,621		(31,267)		348,640
Gross profit		42,451		188,582		8,983		–		240,016
Selling and administrative expenses		50,000		159,852		4,027		–		213,879
Restructuring and other special charges, net		519		–		–		–		519
Impairment of assets held for sale		–		–		4,660		–		4,660
Equity in (earnings) loss of subsidiaries		(2,975)		13,174		225		(10,424)		–
Operating (loss) earnings		(5,093)		15,556		71		10,424		20,958
Interest expense		(5,630)		(91)		–		–		(5,721)
Interest income		3		64		1		–		68
Intercompany interest income (expense)		3,454		(3,579)		125		–		–
(Loss) earnings before income taxes from continuing operations		(7,266)		11,950		197		10,424		15,305
Income tax benefit (provision)		3,382		(10,566)		(762)		–		(7,946)
Net (loss) earnings from continuing operations		(3,884)		1,384		(565)		10,424		7,359
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax		(6,948)		1,591		(280)		–		(5,637)
Impairment charge on net assets of discontinued operations		–		–		(12,554)		–		(12,554)
Net (loss) earnings from discontinued operations		(6,948)		1,591		(12,834)		–		(18,191)
Net (loss) earnings		(10,832)		2,975		(13,399)		10,424		(10,832)
Net loss attributable to noncontrolling interests		–		–		(70)		–		(70)
Net (loss) earnings attributable to Brown Shoe Company, Inc.	$	(10,832)	$	2,975	$	(13,329)	$	10,424	$	(10,762)
Comprehensive (loss) income	$	(11,491)	$	2,411	$	(13,392)	$	10,981	$	(11,491)
Comprehensive loss attributable to noncontrolling interests		–		–		(28)		–		(28)
Comprehensive (loss) income attributable to Brown Shoe Company, Inc.	$	(11,491)	$	2,411	$	(13,364)	$	10,981	$	(11,463)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED APRIL 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	181,844	$	418,409	$	43,822	$	(45,896)	$	598,179
Cost of goods sold		138,064		233,976		37,781		(45,896)		363,925
Gross profit		43,780		184,433		6,041		–		234,254
Selling and administrative expenses		39,210		162,820		9,445		–		211,475
Restructuring and other special charges, net		3,662		6,526		–		–		10,188
Equity in (earnings) loss of subsidiaries		(1,269)		3,759		–		(2,490)		–
Operating earnings (loss)		2,177		11,328		(3,404)		2,490		12,591
Interest expense		(5,940)		(96)		–		–		(6,036)
Interest income		–		61		22		–		83
Intercompany interest income (expense)		3,409		(3,515)		106		–		–
(Loss) earnings before income taxes from continuing operations		(354)		7,778		(3,276)		2,490		6,638
Income tax benefit (provision)		2,506		(4,805)		(317)		–		(2,616)
Net earnings (loss) from continuing operations		2,152		2,973		(3,593)		2,490		4,022
Discontinued operations:
Loss from discontinued operations, net of tax		(457)		(1,704)		(233)		–		(2,394)
Net loss from discontinued operations		(457)		(1,704)		(233)		–		(2,394)
Net earnings (loss)		1,695		1,269		(3,826)		2,490		1,628
Net loss attributable to noncontrolling interests		–		–		(67)		–		(67)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	1,695	$	1,269	$	(3,759)	$	2,490	$	1,695
Comprehensive income (loss)	$	1,663	$	1,898	$	(3,827)	$	2,490	$	2,224
Comprehensive loss attributable to noncontrolling interests		–		–		(65)		–		(65)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	1,663	$	1,898	$	(3,762)	$	2,490	$	2,289

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTEEN WEEKS ENDED MAY 4, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash (used for) provided by operating activities	$	(27,728)	$	44,941	$	8,748	$	–	$	25,961
Investing activities
Purchases of property and equipment		(778)		(6,406)		(183)		–		(7,367)
Capitalized software		(1,040)		–		–		–		(1,040)
Proceeds from sale of assets		1,500		–		–		–		1,500
Net cash used for investing activities		(318)		(6,406)		(183)		–		(6,907)
Financing activities
Borrowings under revolving credit agreement		383,000		–		–		–		383,000
Repayments under revolving credit agreement		(422,000)		–		–		–		(422,000)
Dividends paid		(3,027)		–		–		–		(3,027)
Issuance of common stock under share-based plans, net		(2,070)		–		–		–		(2,070)
Tax benefit related to share-based plans		1,962		–		–		–		1,962
Intercompany financing		70,181		(40,920)		(29,261)		–		–
Net cash provided by (used for) financing activities		28,046		(40,920)		(29,261)		–		(42,135)
Effect of exchange rate changes on cash and cash equivalents		–		(473)		–		–		(473)
Decrease in cash and cash equivalents		–		(2,858)		(20,696)		–		(23,554)
Cash and cash equivalents at beginning of period		–		32,060		36,163		–		68,223
Cash and cash equivalents at end of period	$	–	$	29,202	$	15,467	$	–	$	44,669

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTEEN WEEKS ENDED APRIL 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by operating activities	$	11,044	$	56,717	$	12,137	$	–	$	79,898
Investing activities
Purchases of property and equipment		(433)		(5,038)		(151)		–		(5,622)
Capitalized software		(1,386)		–		–		–		(1,386)
Net cash used for investing activities		(1,819)		(5,038)		(151)		–		(7,008)
Financing activities
Borrowings under revolving credit agreement		165,000		–		–		–		165,000
Repayments under revolving credit agreement		(242,000)		–		–		–		(242,000)
Dividends paid		(2,999)		–		–		–		(2,999)
Issuance of common stock under share-based plans, net		(2,148)		–		–		–		(2,148)
Tax benefit related to share-based plans		753		–		–		–		753
Intercompany financing		76,555		(59,175)		(17,380)		–		–
Net cash used for financing activities		(4,839)		(59,175)		(17,380)		–		(81,394)
Effect of exchange rate changes on cash and cash equivalents		–		614		–		–		614
Increase (decrease) in cash and cash equivalents		4,386		(6,882)		(5,394)		–		(7,890)
Cash and cash equivalents at beginning of period		(4,386)		34,332		17,736		–		47,682
Cash and cash equivalents at end of period	$	–	$	27,450	$	12,342	$	–	$	39,792