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Financial Information For The Company And Its Subsidiaries (Tables)
6 Months Ended
Aug. 03, 2013
Financial Information For The Company And Its Subsidiaries [Abstract]  
Schedule Of Condensed Consolidating Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

AS OF AUGUST 3, 2013

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

–

 

$

32,793 

 

$

20,344 

 

$

–

 

$

53,137 

Receivables, net

 

86,129 

 

 

2,014 

 

 

31,911 

 

 

–

 

 

120,054 

Inventories, net

 

128,503 

 

 

477,659 

 

 

9,754 

 

 

–

 

 

615,916 

Prepaid expenses and other current assets

 

54,017 

 

 

(860)

 

 

(1,312)

 

 

–

 

 

51,845 

Current assets – discontinued operations

 

1,638 

 

 

–

 

 

23 

 

 

–

 

 

1,661 

Total current assets

 

270,287 

 

 

511,606 

 

 

60,720 

 

 

–

 

 

842,613 

Other assets

 

97,053 

 

 

16,110 

 

 

601 

 

 

–

 

 

113,764 

Goodwill and intangible assets, net

 

57,514 

 

 

19,174 

 

 

 –

 

 

–

 

 

76,688 

Property and equipment, net

 

26,637 

 

 

118,878 

 

 

2,440 

 

 

–

 

 

147,955 

Investment in subsidiaries

 

839,981 

 

 

31,336 

 

 

 –

 

 

(871,317)

 

 

–

Total assets

$

1,291,472 

 

$

697,104 

 

$

63,761 

 

$

(871,317)

 

$

1,181,020 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Equity

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under revolving credit agreement

$

23,000 

 

$

–

 

$

–

 

$

–

 

$

23,000 

Trade accounts payable

 

77,854 

 

 

193,996 

 

 

37,956 

 

 

–

 

 

309,806 

Other accrued expenses

 

65,241 

 

 

73,883 

 

 

4,611 

 

 

–

 

 

143,735 

Current liabilities – discontinued operations

 

3,488 

 

 

 –

 

 

48 

 

 

–

 

 

3,536 

Total current liabilities

 

169,583 

 

 

267,879 

 

 

42,615 

 

 

–

 

 

480,077 

Other liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term debt

 

198,917 

 

 

–

 

 

–

 

 

–

 

 

198,917 

Other liabilities

 

24,049 

 

 

50,559 

 

 

1,017 

 

 

–

 

 

75,625 

Intercompany payable (receivable)

 

473,205 

 

 

(461,315)

 

 

(11,890)

 

 

–

 

 

–

Total other liabilities

 

696,171 

 

 

(410,756)

 

 

(10,873)

 

 

–

 

 

274,542 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brown Shoe Company, Inc. shareholders’ equity

 

425,718 

 

 

839,981 

 

 

31,336 

 

 

(871,317)

 

 

425,718 

Noncontrolling interests

 

–

 

 

–

 

 

683 

 

 

–

 

 

683 

Total equity

 

425,718 

 

 

839,981 

 

 

32,019 

 

 

(871,317)

 

 

426,401 

Total liabilities and equity

$

1,291,472 

 

$

697,104 

 

$

63,761 

 

$

(871,317)

 

$

1,181,020 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED 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 

 

 

22,532 

 

 

–

 

 

79,703 

Non current assets – discontinued operations

 

 –

 

 

1,652 

 

 

52,925 

 

 

 –

 

 

54,577 

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 JULY 28, 2012

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

–

 

$

30,760 

 

$

16,637 

 

$

–

 

$

47,397 

Receivables, net

 

77,006 

 

 

7,156 

 

 

23,372 

 

 

–

 

 

107,534 

Inventories, net

 

109,014 

 

 

461,135 

 

 

15,820 

 

 

–

 

 

585,969 

Prepaid expenses and other current assets

 

40,646 

 

 

1,224 

 

 

2,555 

 

 

–

 

 

44,425 

Current assets – discontinued operations

 

21,182 

 

 

45,425 

 

 

48 

 

 

–

 

 

66,655 

Total current assets

 

247,848 

 

 

545,700 

 

 

58,432 

 

 

 –

 

 

851,980 

Other assets

 

116,254 

 

 

18,688 

 

 

848 

 

 

–

 

 

135,790 

Goodwill and intangible assets, net

 

39,402 

 

 

15,600 

 

 

22,727 

 

 

–

 

 

77,729 

Non current assets – discontinued operations

 

–

 

 

1,810 

 

 

53,345 

 

 

–

 

 

55,155 

Property and equipment, net

 

23,470 

 

 

101,042 

 

 

9,008 

 

 

–

 

 

133,520 

Investment in subsidiaries

 

829,881 

 

 

70,656 

 

 

 –

 

 

(900,537)

 

 

–

Total assets

$

1,256,855 

 

$

753,496 

 

$

144,360 

 

$

(900,537)

 

$

1,254,174 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under revolving credit agreement

$

116,000 

 

$

–

 

$

–

 

$

–

 

$

116,000 

Trade accounts payable

 

71,212 

 

 

179,634 

 

 

33,344 

 

 

–

 

 

284,190 

Other accrued expenses

 

59,806 

 

 

73,339 

 

 

9,070 

 

 

–

 

 

142,215 

Current liabilities – discontinued operations

 

10,288 

 

 

6,348 

 

 

52 

 

 

–

 

 

16,688 

Total current liabilities

 

257,306 

 

 

259,321 

 

 

42,466 

 

 

 –

 

 

559,093 

Other liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term debt

 

198,726 

 

 

–

 

 

–

 

 

–

 

 

198,726 

Other liabilities

 

32,563 

 

 

43,742 

 

 

3,739 

 

 

–

 

 

80,044 

Intercompany payable (receivable)

 

362,584 

 

 

(379,128)

 

 

16,544 

 

 

–

 

 

–

Non current liabilities – discontinued operations

 

(1,225)

 

 

(320)

 

 

10,158 

 

 

–

 

 

8,613 

Total other liabilities

 

592,648 

 

 

(335,706)

 

 

30,441 

 

 

–

 

 

287,383 

Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brown Shoe Company, Inc. shareholders’ equity

 

406,901 

 

 

829,881 

 

 

70,656 

 

 

(900,537)

 

 

406,901 

Noncontrolling interests

 

–

 

 

–

 

 

797 

 

 

–

 

 

797 

Total equity

 

406,901 

 

 

829,881 

 

 

71,453 

 

 

(900,537)

 

 

407,698 

Total liabilities and equity

$

1,256,855 

 

$

753,496 

 

$

144,360 

 

$

(900,537)

 

$

1,254,174 

 

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

FOR THE THIRTEEN WEEKS ENDED AUGUST 3, 2013

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net sales

$

180,153 

 

$

444,821 

 

$

57,468 

 

$

(60,736)

 

$

621,706 

Cost of goods sold

 

138,906 

 

 

241,656 

 

 

47,254 

 

 

(60,736)

 

 

367,080 

Gross profit

 

41,247 

 

 

203,165 

 

 

10,214 

 

 

–

 

 

254,626 

Selling and administrative expenses

 

65,770 

 

 

165,689 

 

 

(388)

 

 

–

 

 

231,071 

Restructuring and other special charges, net

 

167 

 

 

576 

 

 

 –

 

 

–

 

 

743 

Equity in (earnings) loss of subsidiaries

 

(36,429)

 

 

(12,043)

 

 

 –

 

 

48,472 

 

 

 –

Operating earnings (loss)

 

11,739 

 

 

48,943 

 

 

10,602 

 

 

(48,472)

 

 

22,812 

Interest expense

 

(5,192)

 

 

 –

 

 

 –

 

 

–

 

 

(5,192)

Interest income

 

10 

 

 

68 

 

 

4 

 

 

–

 

 

82 

Intercompany interest income (expense)

 

3,475 

 

 

(3,607)

 

 

132 

 

 

–

 

 

 –

Earnings (loss) before income taxes from continuing operations

 

10,032 

 

 

45,404 

 

 

10,738 

 

 

(48,472)

 

 

17,702 

Income tax benefit (provision)

 

4,259 

 

 

(9,607)

 

 

1,267 

 

 

–

 

 

(4,081)

Net earnings (loss) from continuing operations

 

14,291 

 

 

35,797 

 

 

12,005 

 

 

(48,472)

 

 

13,621 

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from discontinued operations, net of tax

 

1,066 

 

 

(410)

 

 

(36)

 

 

–

 

 

620 

Impairment of net assets/disposition of discontinued operations

 

 –

 

 

1,042 

 

 

 –

 

 

–

 

 

1,042 

Net Earnings (loss) from discontinued operations

 

1,066 

 

 

632 

 

 

(36)

 

 

–

 

 

1,662 

Net earnings (loss)

 

15,357 

 

 

36,429 

 

 

11,969 

 

 

(48,472)

 

 

15,283 

Net loss attributable to noncontrolling interests

 

 –

 

 

 –

 

 

(74)

 

 

–

 

 

(74)

Net earnings (loss) attributable to Brown Shoe Company, Inc.

$

15,357 

 

$

36,429 

 

$

12,043 

 

$

(48,472)

 

$

15,357 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

$

15,105 

 

$

35,969 

 

$

11,969 

 

$

(48,012)

 

$

15,031 

Comprehensive loss attributable to noncontrolling interests

 

–

 

 

–

 

 

(61)

 

 

–

 

 

(61)

Comprehensive income (loss) attributable to Brown Shoe Company, Inc.

$

15,105 

 

$

35,969 

 

$

12,030 

 

$

(48,012)

 

$

15,092 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

FOR THE TWENTY-SIX WEEKS ENDED AUGUST 3, 2013

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net sales

$

338,934 

 

$

863,359 

 

$

100,072 

 

$

(92,003)

 

$

1,210,362 

Cost of goods sold

 

255,236 

 

 

471,612 

 

 

80,875 

 

 

(92,003)

 

 

715,720 

Gross profit

 

83,698 

 

 

391,747 

 

 

19,197 

 

 

 –

 

 

494,642 

Selling and administrative expenses

 

115,770 

 

 

325,541 

 

 

3,639 

 

 

 –

 

 

444,950 

Restructuring and other special charges, net

 

686 

 

 

576 

 

 

 –

 

 

 –

 

 

1,262 

Impairment of assets held for sale

 

 –

 

 

 –

 

 

4,660 

 

 

 –

 

 

4,660 

Equity in (earnings) loss of subsidiaries

 

(39,474)

 

 

1,061 

 

 

 –

 

 

38,413 

 

 

 –

Operating earnings (loss)

 

6,716 

 

 

64,569 

 

 

10,898 

 

 

(38,413)

 

 

43,770 

Interest expense

 

(10,822)

 

 

(91)

 

 

 –

 

 

 –

 

 

(10,913)

Interest income

 

13 

 

 

132 

 

 

5 

 

 

 –

 

 

150 

Intercompany interest income (expense)

 

6,929 

 

 

(7,186)

 

 

257 

 

 

 –

 

 

 –

Earnings (loss) before income taxes from continuing operations

 

2,836 

 

 

57,424 

 

 

11,160 

 

 

(38,413)

 

 

33,007 

Income tax benefit (provision)

 

7,641 

 

 

(20,173)

 

 

505 

 

 

 –

 

 

(12,027)

Net earnings (loss) from continuing operations

 

10,477 

 

 

37,251 

 

 

11,665 

 

 

(38,413)

 

 

20,980 

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings from discontinued operations, net of tax

 

(5,882)

 

 

1,181 

 

 

(316)

 

 

 –

 

 

(5,017)

Impairment of net assets/disposition of discontinued operations

 

 –

 

 

1,042 

 

 

(12,554)

 

 

 –

 

 

(11,512)

Net (loss) earnings from discontinued operations

 

(5,882)

 

 

2,223 

 

 

(12,870)

 

 

 –

 

 

(16,529)

Net earnings (loss)

$

4,595 

 

$

39,474 

 

$

(1,205)

 

$

(38,413)

 

$

4,451 

Net loss attributable to noncontrolling interests

 

 –

 

 

 –

 

 

(144)

 

 

 –

 

 

(144)

Net earnings (loss) attributable to Brown Shoe Company, Inc.

$

4,595 

 

$

39,474 

 

$

(1,061)

 

$

(38,413)

 

$

4,595 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss)

$

3,684 

 

$

38,457 

 

$

(1,205)

 

$

(37,396)

 

$

3,540 

Comprehensive loss attributable to noncontrolling interests

 

–

 

 

–

 

 

(89)

 

 

–

 

 

(89)

Comprehensive income (loss) attributable to Brown Shoe Company, Inc.

$

3,684 

 

$

38,457 

 

$

(1,116)

 

$

(37,396)

 

$

3,629 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

FOR THE THIRTEEN WEEKS ENDED JULY 28, 2012

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net sales

$

154,463 

 

$

416,187 

 

$

47,146 

 

$

(52,899)

 

$

564,897 

Cost of goods sold

 

121,376 

 

 

230,633 

 

 

38,133 

 

 

(52,899)

 

 

337,243 

Gross profit

 

33,087 

 

 

185,554 

 

 

9,013 

 

 

 –

 

 

227,654 

Selling and administrative expenses

 

43,749 

 

 

166,521 

 

 

1,436 

 

 

 –

 

 

211,706 

Restructuring and other special charges, net

 

4,612 

 

 

2,714 

 

 

 –

 

 

 –

 

 

7,326 

Equity in (earnings) loss of subsidiaries

 

(13,900)

 

 

(6,601)

 

 

 –

 

 

20,501 

 

 

 –

Operating (loss) earnings

 

(1,374)

 

 

22,920 

 

 

7,577 

 

 

(20,501)

 

 

8,622 

Interest expense

 

(5,559)

 

 

(86)

 

 

 –

 

 

 –

 

 

(5,645)

Interest income

 

 –

 

 

63 

 

 

14 

 

 

 –

 

 

77 

Intercompany interest income (expense)

 

3,120 

 

 

(3,227)

 

 

107 

 

 

 –

 

 

 –

(Loss) earnings before income taxes from continuing operations

 

(3,813)

 

 

19,670 

 

 

7,698 

 

 

(20,501)

 

 

3,054 

Income tax benefit (provision)

 

4,701 

 

 

(5,183)

 

 

(759)

 

 

 –

 

 

(1,241)

Net earnings (loss) from continuing operations

 

888 

 

 

14,487 

 

 

6,939 

 

 

(20,501)

 

 

1,813 

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of tax

 

(3,423)

 

 

(587)

 

 

(517)

 

 

 –

 

 

(4,527)

Net loss from discontinued operations

 

(3,423)

 

 

(587)

 

 

(517)

 

 

 –

 

 

(4,527)

Net (loss) earnings

 

(2,535)

 

 

13,900 

 

 

6,422 

 

 

(20,501)

 

 

(2,714)

Net loss attributable to noncontrolling interests

 

 –

 

 

 –

 

 

(179)

 

 

 –

 

 

(179)

Net (loss) earnings attributable to Brown Shoe Company, Inc.

$

(2,535)

 

$

13,900 

 

$

6,601 

 

$

(20,501)

 

$

(2,535)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive (loss) income

$

(3,083)

 

$

12,969 

 

$

6,427 

 

$

(20,501)

 

$

(4,188)

Comprehensive loss attributable to noncontrolling interests

 

–

 

 

–

 

 

(185)

 

 

–

 

 

(185)

Comprehensive (loss) income attributable to Brown Shoe Company, Inc.

$

(3,083)

 

$

12,969 

 

$

6,612 

 

$

(20,501)

 

$

(4,003)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

FOR THE TWENTY-SIX WEEKS ENDED JULY 28, 2012

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net sales

$

336,307 

 

$

834,596 

 

$

90,968 

 

$

(98,795)

 

$

1,163,076 

Cost of goods sold

 

259,440 

 

 

464,609 

 

 

75,914 

 

 

(98,795)

 

 

701,168 

Gross profit

 

76,867 

 

 

369,987 

 

 

15,054 

 

 

 –

 

 

461,908 

Selling and administrative expenses

 

82,959 

 

 

329,553 

 

 

10,669 

 

 

 –

 

 

423,181 

Restructuring and other special charges, net

 

8,274 

 

 

9,240 

 

 

 –

 

 

 –

 

 

17,514 

Equity in (earnings) loss of subsidiaries

 

(15,169)

 

 

(2,842)

 

 

 –

 

 

18,011 

 

 

 –

Operating earnings (loss)

 

803 

 

 

34,036 

 

 

4,385 

 

 

(18,011)

 

 

21,213 

Interest expense

 

(11,499)

 

 

(182)

 

 

 –

 

 

 –

 

 

(11,681)

Interest income

 

 –

 

 

124 

 

 

36 

 

 

 –

 

 

160 

Intercompany interest income (expense)

 

6,529 

 

 

(6,742)

 

 

213 

 

 

 –

 

 

 –

(Loss) earnings before income taxes from continuing operations

 

(4,167)

 

 

27,236 

 

 

4,634 

 

 

(18,011)

 

 

9,692 

Income tax benefit (provision)

 

7,207 

 

 

(9,901)

 

 

(1,163)

 

 

 –

 

 

(3,857)

Net earnings (loss) from continuing operations

 

3,040 

 

 

17,335 

 

 

3,471 

 

 

(18,011)

 

 

5,835 

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of tax

 

(3,880)

 

 

(2,166)

 

 

(875)

 

 

 –

 

 

(6,921)

Net loss from discontinued operations

 

(3,880)

 

 

(2,166)

 

 

(875)

 

 

 –

 

 

(6,921)

Net (loss) earnings

 

(840)

 

 

15,169 

 

 

2,596 

 

 

(18,011)

 

 

(1,086)

Net loss attributable to noncontrolling interests

 

 –

 

 

 –

 

 

(246)

 

 

 –

 

 

(246)

Net (loss) earnings attributable to Brown Shoe Company, Inc.

$

(840)

 

$

15,169 

 

$

2,842 

 

$

(18,011)

 

$

(840)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive (loss) income

$

(1,420)

 

 

14,867 

 

 

2,600 

 

 

(18,011)

 

 

(1,964)

Comprehensive loss attributable to noncontrolling interests

 

 –

 

 

 –

 

 

(250)

 

 

 –

 

 

(250)

Comprehensive (loss) income attributable to Brown Shoe Company, Inc.

$

(1,420)

 

$

14,867 

 

$

2,850 

 

$

(18,011)

 

$

(1,714)

 

Schedule Of Condensed Consolidating Statement Of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE TWENTY-SIX WEEKS ENDED AUGUST 3, 2013

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net cash provided by operating activities

$

1,555 

 

$

26,015 

 

$

7,919 

 

$

–

 

$

35,489 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

(1,656)

 

 

(25,612)

 

 

(529)

 

 

–

 

 

(27,797)

Capitalized software

 

(2,383)

 

 

(248)

 

 

(7)

 

 

–

 

 

(2,638)

Proceeds from sale of subsidiaries, net of cash balance

 

–

 

 

69,347 

 

 

–

 

 

–

 

 

69,347 

Net cash (used for) provided by investing activities

 

(4,039)

 

 

43,487 

 

 

(536)

 

 

–

 

 

38,912 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under revolving credit agreement

 

685,000 

 

 

–

 

 

–

 

 

–

 

 

685,000 

Repayments under revolving credit agreement

 

(767,000)

 

 

–

 

 

–

 

 

–

 

 

(767,000)

Dividends paid

 

(6,048)

 

 

–

 

 

–

 

 

–

 

 

(6,048)

Issuance of common stock under share-based plans, net

 

(2,780)

 

 

–

 

 

–

 

 

–

 

 

(2,780)

Tax benefit related to share-based plans

 

2,798 

 

 

–

 

 

–

 

 

–

 

 

2,798 

Intercompany financing

 

90,514 

 

 

(67,312)

 

 

(23,202)

 

 

–

 

 

–

Net cash provided by (used for) financing activities

 

2,484 

 

 

(67,312)

 

 

(23,202)

 

 

–

 

 

(88,030)

Effect of exchange rate changes on cash and cash equivalents

 

–

 

 

(1,457)

 

 

–

 

 

–

 

 

(1,457)

Increase (decrease) in cash and cash equivalents

 

–

 

 

733 

 

 

(15,819)

 

 

–

 

 

(15,086)

Cash and cash equivalents at beginning of period

 

–

 

 

32,060 

 

 

36,163 

 

 

–

 

 

68,223 

Cash and cash equivalents at end of period

$

 –

 

$

32,793 

 

$

20,344 

 

$

–

 

$

53,137 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE TWENTY-SIX WEEKS ENDED JULY 28, 2012

 

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

($ thousands)

 

Parent

 

 

Guarantors

 

 

Guarantors

 

 

Eliminations

 

 

Total

Net cash provided by operating activities

$

31,083 

 

$

71,866 

 

$

16,411 

 

$

–

 

$

119,360 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchases of property and equipment

 

(1,525)

 

 

(21,738)

 

 

(883)

 

 

–

 

 

(24,146)

Capitalized software

 

(2,953)

 

 

–

 

 

(3)

 

 

–

 

 

(2,956)

Net cash used for investing activities

 

(4,478)

 

 

(21,738)

 

 

(886)

 

 

–

 

 

(27,102)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under revolving credit agreement

 

334,000 

 

 

–

 

 

–

 

 

–

 

 

334,000 

Repayments under revolving credit agreement

 

(419,000)

 

 

–

 

 

–

 

 

–

 

 

(419,000)

Dividends paid

 

(6,005)

 

 

–

 

 

–

 

 

–

 

 

(6,005)

Issuance of common stock under share-based plans, net

 

(2,058)

 

 

–

 

 

–

 

 

–

 

 

(2,058)

Tax benefit related to share-based plans

 

738 

 

 

–

 

 

–

 

 

–

 

 

738 

Intercompany financing

 

70,106 

 

 

(53,482)

 

 

(16,624)

 

 

–

 

 

–

Net cash used for financing activities

 

(22,219)

 

 

(53,482)

 

 

(16,624)

 

 

–

 

 

(92,325)

Effect of exchange rate changes on cash and cash equivalents

 

–

 

 

(218)

 

 

–

 

 

–

 

 

(218)

Increase (decrease) in cash and cash equivalents

 

4,386 

 

 

(3,572)

 

 

(1,099)

 

 

–

 

 

(285)

Cash and cash equivalents at beginning of period

 

(4,386)

 

 

34,332 

 

 

17,736 

 

 

–

 

 

47,682 

Cash and cash equivalents at end of period

$

–

 

$

30,760 

 

$

16,637 

 

$

–

 

$

47,397