Financial Information For The Company And Its Subsidiaries (Tables)

12 Months Ended

Feb. 01, 2014

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 1, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets:
Cash and cash equivalents	$	–	$	30,002	$	52,544	$	–	$	82,546
Receivables, net		84,428		2,349		42,440		–		129,217
Inventories, net		119,131		421,101		7,299		–		547,531
Prepaid expenses and other current assets		38,069		16,024		3,984		(24,941)		33,136
Current assets - discontinued operations		119		–		–		–		119
Intercompany receivable - current		602		191		8,860		(9,653)		–
Total current assets		242,349		469,667		115,127		(34,594)		792,549
Property and equipment, net		27,201		114,359		2,000		–		143,560
Goodwill and intangible assets, net		55,225		18,448		–		–		73,673
Other assets		123,066		15,864		691		–		139,621
Investment in subsidiaries		865,700		165,970		–		(1,031,670)		–
Intercompany receivable - noncurrent		457,507		482,180		230,572		(1,170,259)		–
Total assets	$	1,771,048	$	1,266,488	$	348,390	$	(2,236,523)	$	1,149,403
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement	$	7,000	$	–	$	–	$	–	$	7,000
Trade accounts payable		72,349		116,604		37,649		–		226,602
Other accrued expenses		81,902		87,045		8,539		(24,941)		152,545
Current liabilities - discontinued operations		708		–		–		–		708
Intercompany payable - current		4,689		766		4,198		(9,653)		–
Total current liabilities		166,648		204,415		50,386		(34,594)		386,855
Other liabilities:
Long-term debt		199,010		–		–		–		199,010
Other liabilities		38,657		46,055		1,464		–		86,176
Intercompany payable - noncurrent		890,034		150,318		129,907		(1,170,259)		–
Total other liabilities		1,127,701		196,373		131,371		(1,170,259)		285,186
Equity:
Brown Shoe Company, Inc. shareholders’ equity		476,699		865,700		165,970		(1,031,670)		476,699
Noncontrolling interests		–		–		663		–		663
Total equity		476,699		865,700		166,633		(1,031,670)		477,362
Total liabilities and equity	$	1,771,048	$	1,266,488	$	348,390	$	(2,236,523)	$	1,149,403

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		17,237		26,524		969		–		44,730
Current assets - discontinued operations		5,447		41,553		109		–		47,109
Intercompany receivable - current		543		3,531		24,815		(28,889)		–
Total current assets		183,481		504,729		115,821		(28,889)		775,142
Property and equipment, net		27,931		108,224		8,701		–		144,856
Goodwill and intangible assets, net		37,270		19,901		22,532		–		79,703
Other assets		99,527		19,320		848		–		119,695
Investment in subsidiaries		765,729		91,136		113,033		(969,898)		–
Noncurrent assets - discontinued operations		1,145		3,980		52,925		(3,473)		54,577
Intercompany receivable - noncurrent		340,678		524,332		158,557		(1,023,567)		–
Total assets	$	1,455,761	$	1,271,622	$	472,417	$	(2,025,827)	$	1,173,973
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		54,465		78,293		7,146		–		139,904
Current liabilities - discontinued operations		3,754		9,396		109		–		13,259
Intercompany payable - current		7,102		2,369		19,418		(28,889)		–
Total current liabilities		223,671		208,154		68,887		(28,889)		471,823
Other liabilities:
Long-term debt		198,823		–		–		–		198,823
Other liabilities		17,042		48,986		4,402		–		70,430
Noncurrent liabilities - discontinued operations		–		–		10,469		(3,473)		6,996
Intercompany payable - noncurrent		591,096		135,720		296,751		(1,023,567)		–
Total other liabilities		806,961		184,706		311,622		(1,027,040)		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	$	1,455,761	$	1,271,622	$	472,417	$	(2,025,827)	$	1,173,973

Schedule of Condensed Consolidating Statement Of Earnings

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED FEBRUARY 1, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	733,996	$	1,768,049	$	197,679	$	(186,611)	$	2,513,113
Cost of goods sold		549,281		975,389		160,766		(186,611)		1,498,825
Gross profit		184,715		792,660		36,913		–		1,014,288
Selling and administrative expenses		217,902		688,526		3,321		–		909,749
Restructuring and other special charges, net		686		576		–		–		1,262
Impairment of assets held for sale		–		–		4,660		–		4,660
Operating (loss) earnings		(33,873)		103,558		28,932		–		98,617
Interest expense		(21,163)		(91)		–		–		(21,254)
Interest income		23		278		76		–		377
Intercompany interest income (expense)		13,414		(15,399)		1,985		–		–
Intercompany dividend		–		7,778		(7,778)		–		–
(Loss) earnings before income taxes from continuing operations		(41,599)		96,124		23,215		–		77,740
Income tax benefit (provision)		7,496		(29,390)		(1,864)		–		(23,758)
Equity in earnings from continuing operations of subsidiaries, net of tax		88,262		21,528		–		(109,790)		–
Net earnings from continuing operations		54,159		88,262		21,351		(109,790)		53,982
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax		(5,296)		1,073		(351)		–		(4,574)
Disposition/impairment of discontinued operations, net of tax		–		1,042		(12,554)		–		(11,512)
Equity in loss from discontinued operations of subsidiaries, net of tax		(10,790)		(12,905)		–		23,695		–
Net loss from discontinued operations		(16,086)		(10,790)		(12,905)		23,695		(16,086)
Net earnings		38,073		77,472		8,446		(86,095)		37,896
Net loss attributable to noncontrolling interests		–		–		(177)		–		(177)
Net earnings attributable to Brown Shoe Company, Inc.	$	38,073	$	77,472	$	8,623	$	(86,095)	$	38,073

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	689,630	$	1,805,260	$	191,994	$	(209,088)	$	2,477,796
Cost of goods sold		528,925		1,014,703		154,681		(209,088)		1,489,221
Gross profit		160,705		790,557		37,313		–		988,575
Selling and administrative expenses		189,857		692,124		9,685		–		891,666
Restructuring and other special charges, net		12,261		10,170		–		–		22,431
Operating (loss) earnings		(41,413)		88,263		27,628		–		74,478
Interest expense		(22,584)		(389)		–		–		(22,973)
Interest income		10		258		54		–		322
Intercompany interest income (expense)		13,073		(13,525)		452		–		–
(Loss) earnings before income taxes from continuing operations		(50,914)		74,607		28,134		–		51,827
Income tax benefit (provision)		15,973		(28,362)		(4,267)		–		(16,656)
Equity in earnings from continuing operations of subsidiaries, net of tax		70,399		24,154		–		(94,553)		–
Net earnings from continuing operations		35,458		70,399		23,867		(94,553)		35,171
Discontinued operations:								.
Earnings (loss) from discontinued operations, net of tax		802		(4,164)		(1,075)		–		(4,437)
Disposition/impairment of discontinued operations, net of tax		(3,530)		–		–		–		(3,530)
Equity in loss from discontinued operations of subsidiaries, net of tax		(5,239)		(1,075)		–		6,314		–
Net loss from discontinued operations		(7,967)		(5,239)		(1,075)		6,314		(7,967)
Net earnings		27,491		65,160		22,792		(88,239)		27,204
Net loss attributable to noncontrolling interests		–		–		(287)		–		(287)
Net earnings 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	$	641,037	$	1,759,105	$	219,939		$	(185,315)	$	2,434,766
Cost of goods sold		488,406		986,079		181,100			(185,315)		1,470,270
Gross profit		152,631		773,026		38,839			–		964,496
Selling and administrative expenses		163,965		694,821		51,507			–		910,293
Restructuring and other special charges, net		20,308		3,363		–			–		23,671
Operating (loss) earnings		(31,642)		74,842		(12,668)			–		30,532
Interest expense		(25,400)		(633)		605			–		(25,428)
Loss on early extinguishment of debt		(1,003)		–		–			–		(1,003)
Interest income		10		163		396			–		569
Intercompany interest income (expense)		15,714		(15,098)		(616)			–		–
(Loss) earnings before income taxes from continuing operations		(42,321)		59,274		(12,283)			–		4,670
Income tax benefit (provision)		14,144		(11,705)		(1,018)			–		1,421
Equity in earnings (loss) from continuing operations of subsidiaries, net of tax		34,467		(13,102)		–			(21,365)		–
Net earnings (loss) from continuing operations		6,290		34,467		(13,301)			(21,365)		6,091
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax		3,104		2,741		(1,511)			–		4,334
Disposition/impairment of discontinued operations, net of tax		–		13,965		–			–		13,965
Equity in earnings (loss) from discontinued operations of subsidiaries, net of tax		15,195		(1,511)		–			(13,684)		–
Net earnings (loss) from discontinued operations		18,299		15,195		(1,511)			(13,684)		18,299
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

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 1, 2014
					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations		Total
Net earnings	$	38,073		77,472		8,446		(86,095)	$	37,896
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		–		(4,421)		(117)		–		(4,538)
Pension and other postretirement benefits adjustments, net of tax		19,114		415		–		–		19,529
Derivative financial instruments, net of tax		(55)		874		–		–		819
Other comprehensive loss from investment in subsidiaries, net of tax		(3,317)		(185)		–		3,502		–
Other comprehensive income (loss), net of tax		15,742		(3,317)		(117)		3,502		15,810
Comprehensive income		53,815		74,155		8,329		(82,593)		53,706
Comprehensive loss attributable to noncontrolling interests		–		–		(109)		–		(109)
Comprehensive income attributable to Brown Shoe Company, Inc.	$	53,815	$	74,155	$	8,438	$	(82,593)	$	53,815

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
						Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations		Total
Net earnings	$	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, net of tax		(8,871)		(190)		–			–		(9,061)
Derivative financial instruments, net of tax		134		(289)		–			–		(155)
Other comprehensive loss from investment in subsidiaries, net of tax		(16)		(12)		–			28		–
Other comprehensive loss, net of tax		(8,753)		(16)		–	–		28		(8,741)
Comprehensive income		18,738		65,144		22,792			(88,211)		18,463
Comprehensive loss attributable to noncontrolling interests		–		–		(275)			–		(275)
Comprehensive income attributable to Brown Shoe Company, Inc.	$	18,738	$	65,144	$	23,067		$	(88,211)	$	18,738

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED JANUARY 28, 2012
							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, net of tax		3,358		(417)			–		–		2,941
Derivative financial instruments, net of tax		(14)		401			–		–		387
Other comprehensive income (loss) from investment in subsidiaries, net of tax		152		(1,152)			–		1,000		–
Other comprehensive income (loss), net of tax		3,496		152			(1,113)		1,000		3,535
Comprehensive income (loss)		28,085		49,814			(15,925)		(34,049)		27,925
Comprehensive loss attributable to noncontrolling interests		–		–			(160)		–		(160)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	28,085	$	49,814	$		(15,765)	$	(34,049)	$	28,085

Schedule Of Condensed Consolidating Statement Of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 1, 2014
					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by (used for) operating activities	$	60,774	$	63,384	$	(20,126)	$	–	$	104,032
Investing activities
Purchases of property and equipment		(5,595)		(37,478)		(895)		–		(43,968)
Capitalized software		(4,920)		(193)		(122)		–		(5,235)
Intercompany investing		(1,128)		1,128		–		–		–
Net proceeds from sale of subsidiaries		–		69,347		–		–		69,347
Net cash (used for) provided by investing activities		(11,643)		32,804		(1,017)		–		20,144
Financing activities
Borrowings under revolving credit agreement		1,129,000		–		–		–		1,129,000
Repayments under revolving credit agreement		(1,227,000)		–		–		–		(1,227,000)
Dividends paid		(12,105)		–		–		–		(12,105)
Issuance of common stock under share-based plans, net		804		–		–		–		804
Tax benefit related to share-based plans		3,439		–		–		–		3,439
Contributions by noncontrolling interests		–		–		50		–		50
Intercompany financing		56,731		(94,205)		37,474		–		–
Net cash (used for) provided by financing activities		(49,131)		(94,205)		37,524		–		(105,812)
Effect of exchange rate changes on cash and cash equivalents		–		(4,041)		–		–		(4,041)
(Decrease) increase in cash and cash equivalents		–		(2,058)		16,381		–		14,323
Cash and cash equivalents at beginning of year		–		32,060		36,163		–		68,223
Cash and cash equivalents at end of year	$	–	$	30,002	$	52,544	$	–	$	82,546

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by 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 year		(4,386)		34,332		17,736		–		47,682
Cash and cash equivalents at end of year	$	–	$	32,060	$	36,163	$	–	$	68,223

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2012
						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 year		–		27,095		99,453		–		126,548
Cash and cash equivalents at end of year	$	(4,386)	$	34,332	$	17,736	$	–	$	47,682