Financial Information For The Company And Its Subsidiaries (Tables)

3 Months Ended

May 03, 2014

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF MAY 3, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	25,528	$	11,140	$	–	$	36,668
Receivables, net		83,713		1,412		20,621		–		105,746
Inventories, net		93,159		414,424		5,228		–		512,811
Prepaid expenses and other current assets		26,544		507		2,930		7,932		37,913
Intercompany receivable – current		981		368		10,655		(12,004)		–
Total current assets		204,397		442,239		50,574		(4,072)		693,138
Other assets		120,941		14,678		637		–		136,256
Goodwill and intangible assets, net		119,666		18,084		–		–		137,750
Property and equipment, net		27,303		112,630		1,885		–		141,818
Investment in subsidiaries		879,965		169,843		–		(1,049,808)		–
Intercompany receivable – noncurrent		450,481		500,580		242,150		(1,193,211)		–
Total assets	$	1,802,753	$	1,258,054	$	295,246	$	(2,247,091)	$	1,108,962
Liabilities and Equity
Current liabilities
Trade accounts payable	$	48,509	$	123,656	$	23,538	$	–	$	195,703
Other accrued expenses		61,733		64,082		7,971		7,932		141,718
Intercompany payable – current		2,367		59		9,578		(12,004)		–
Total current liabilities		112,609		187,797		41,087		(4,072)		337,421
Other liabilities
Long-term debt		199,057		–		–		–		199,057
Other liabilities		33,499		44,745		1,469		–		79,713
Intercompany payable – noncurrent		965,515		145,547		82,149		(1,193,211)		–
Total other liabilities		1,198,071		190,292		83,618		(1,193,211)		278,770
Equity
Brown Shoe Company, Inc. shareholders’ equity		492,073		879,965		169,843		(1,049,808)		492,073
Noncontrolling interests		–		–		698		–		698
Total equity		492,073		879,965		170,541		(1,049,808)		492,771
Total liabilities and equity	$	1,802,753	$	1,258,054	$	295,246	$	(2,247,091)	$	1,108,962

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
Other assets		123,066		15,864		691		–		139,621
Goodwill and intangible assets, net		55,225		18,448		–		–		73,673
Property and equipment, net		27,201		114,359		2,000		–		143,560
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

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
Intercompany receivable – current		786		246		19,236			(20,268)			–
Total current assets		192,090		473,522		76,804	–	–	(20,268)	–		722,148
Other assets		98,431		16,562		598			–			115,591
Goodwill and intangible assets, net		36,203		19,538		25,255			–			80,996
Noncurrent 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)			–
Intercompany receivable  –  noncurrent		343,110		546,265		180,056			(1,069,431)			–
Total assets	$	1,455,863	$	1,137,528	$	318,867		$	(1,817,551)		$	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
Intercompany payable – current		5,231		37		15,000			(20,268)			–
Total current liabilities		169,136		194,114		52,087	–	–	(20,268)			395,069
Other liabilities
Long-term debt		198,870		–		–			–			198,870
Other liabilities		26,685		50,003		4,378			–			81,066
Noncurrent liabilities – discontinued operations		(1,105)		(2,535)		10,408			–			6,768
Intercompany payable – noncurrent		650,087		136,401		282,943			(1,069,431)			–
Total other liabilities		874,537		183,869		297,729			(1,069,431)			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	$	1,455,863	$	1,137,528	$	318,867		$	(1,817,551)		$	1,094,707

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED MAY 3, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	179,160	$	401,580	$	36,624	$	(26,202)	$	591,162
Cost of goods sold		127,466		218,366		29,191		(26,202)		348,821
Gross profit		51,694		183,214		7,433		–		242,341
Selling and administrative expenses		49,197		159,967		4,451		–		213,615
Operating earnings		2,497		23,247		2,982		–		28,726
Interest expense		(5,305)		(1)		–		–		(5,306)
Interest income		1		59		16		–		76
Intercompany interest income (expense)		3,974		(4,079)		105		–		–
Earnings before income taxes		1,167		19,226		3,103		–		23,496
Income tax benefit (provision)		464		(7,954)		(530)		–		(8,020)
Equity in earnings of subsidiaries, net of tax		13,798		2,526		–		(16,324)		–
Net earnings		15,429		13,798		2,573		(16,324)		15,476
Net earnings attributable to noncontrolling interests		–		–		47		–		47
Net earnings attributable to Brown Shoe Company, Inc.	$	15,429	$	13,798	$	2,526	$	(16,324)	$	15,429
Comprehensive income	$	15,918	$	14,355	$	2,520	$	(16,840)	$	15,953
Less: Comprehensive income attributable to noncontrolling interests		–		–		35		–		35
Comprehensive income attributable to Brown Shoe Company, Inc.	$	15,918	$	14,355	$	2,485	$	(16,840)	$	15,918

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
Operating earnings (loss)		(8,068)		28,730		296		–		20,958
Interest expense		(5,630)		(91)		–		–		(5,721)
Interest income		3		64		1		–		68
Intercompany interest income (expense)		3,454		(3,579)		125		–		–
Earnings (loss) before income taxes from continuing operations		(10,241)		25,124		422		–		15,305
Income tax benefit (provision)		3,382		(10,566)		(762)		–		(7,946)
Equity in earnings (loss) from continuing operations of subsidiaries, net of tax		14,218		(340)		225		(14,103)		–
Net (loss) earnings from continuing operations		7,359		14,218		(115)		(14,103)		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)
Equity in loss from discontinued operations of subsidiaries, net of tax		(11,243)		(12,834)		–		24,077		–
Net (loss) earnings from discontinued operations		(18,191)		(11,243)		(12,834)		24,077		(18,191)
Net earnings (loss)		(10,832)		2,975		(12,949)		9,974		(10,832)
Less: Net loss attributable to noncontrolling interests		–		–		(70)		–		(70)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	(10,832)	$	2,975	$	(12,879)	$	9,974	$	(10,762)
Comprehensive (loss) income	$	(11,330)		2,446		(13,392)		10,918		(11,358)
Less: Comprehensive loss attributable to noncontrolling interests		–		–		(28)		–		(28)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	(11,330)	$	2,446	$	(13,364)	$	10,918	$	(11,330)

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTEEN WEEKS ENDED MAY 3, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash (used for) provided by operating activities	$	(3,343)	$	25,854	$	13,872	$	–	$	36,383
Investing activities
Purchases of property and equipment		(1,866)		(5,411)		(104)		–		(7,381)
Capitalized software		(1,171)		(43)		(31)		–		(1,245)
Acquisition of trademarks		(65,065)		–		–		–		(65,065)
Intercompany investing		(533)		533		–		–		–
Net cash used for investing activities		(68,635)		(4,921)		(135)		–		(73,691)
Financing activities
Borrowings under revolving credit agreement		251,000		–		–		–		251,000
Repayments under revolving credit agreement		(258,000)		–		–		–		(258,000)
Dividends paid		(3,053)		–		–		–		(3,053)
Issuance of common stock under share-based plans, net		(803)		–		–		–		(803)
Tax benefit related to share-based plans		1,769		–		–		–		1,769
Intercompany financing		81,065		(25,924)		(55,141)		–		–
Net cash provided by (used for) financing activities		71,978		(25,924)		(55,141)		–		(9,087)
Effect of exchange rate changes on cash and cash equivalents		–		517		–		–		517
Decrease in cash and cash equivalents		–		(4,474)		(41,404)		–		(45,878)
Cash and cash equivalents at beginning of period		–		30,002		52,544		–		82,546
Cash and cash equivalents at end of period	$	–	$	25,528	$	11,140	$	–	$	36,668

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)
Net proceeds from sale of subsidiaries		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 (used for) provided by financing activities		28,046		(40,920)		(29,261)		–		(42,135)
Effect of exchange rate changes on cash and cash equivalents		–		(473)		–		–		(473)
Increase (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