Financial Information For The Company And Its Subsidiaries (Tables)

6 Months Ended

Aug. 02, 2014

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF AUGUST 2, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	28,399	$	18,477	$	–	$	46,876
Receivables, net		85,285		2,491		37,708		–		125,484
Inventories, net		160,581		487,786		9,289		–		657,656
Prepaid expenses and other current assets		35,382		345		3,440		–		39,167
Intercompany receivable – current		1,958		502		18,663		(21,123)		–
Total current assets		283,206		519,523		87,577		(21,123)		869,183
Other assets		119,473		14,680		626		–		134,779
Goodwill and intangible assets, net		119,041		17,721		–		–		136,762
Property and equipment, net		26,934		119,626		1,798		–		148,358
Investment in subsidiaries		907,866		185,612		–		(1,093,478)		–
Intercompany receivable – noncurrent		450,516		518,996		245,863		(1,215,375)		–
Total assets	$	1,907,036	$	1,376,158	$	335,864	$	(2,329,976)	$	1,289,082
Liabilities and Equity
Current liabilities
Trade accounts payable	$	104,054	$	196,671	$	40,969	$	–	$	341,694
Other accrued expenses		73,399		76,691		9,062		–		159,152
Intercompany payable – current		6,143		312		14,668		(21,123)		–
Total current liabilities		183,596		273,674		64,699		(21,123)		500,846
Other liabilities
Long-term debt		199,104		–		–		–		199,104
Other liabilities		34,860		43,550		1,470		–		79,880
Intercompany payable – noncurrent		980,894		151,068		83,413		(1,215,375)		–
Total other liabilities		1,214,858		194,618		84,883		(1,215,375)		278,984
Equity
Brown Shoe Company, Inc. shareholders’ equity		508,582		907,866		185,612		(1,093,478)		508,582
Noncontrolling interests		–		–		670		–		670
Total equity		508,582		907,866		186,282		(1,093,478)		509,252
Total liabilities and equity	$	1,907,036	$	1,376,158	$	335,864	$	(2,329,976)	$	1,289,082

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 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
Intercompany receivable – current		1,657		366		4,572			(6,595)			–
Total current assets		271,944		511,972		65,292	–	–	(6,595)	–		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)			–
Intercompany receivable  –  noncurrent		348,967		600,401		174,877			(1,124,245)			–
Total assets	$	1,642,096	$	1,297,871	$	243,210		$	(2,002,157)		$	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
Intercompany payable – current		4,390		389		1,816			(6,595)			–
Total current liabilities		173,973		268,268		44,431	–	–	(6,595)			480,077
Other liabilities
Long-term debt		198,917		–		–			–			198,917
Other liabilities		24,049		50,559		1,017			–			75,625
Intercompany payable – noncurrent		819,439		139,063		165,743			(1,124,245)			–
Total other liabilities		1,042,405		189,622		166,760			(1,124,245)			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	$	1,642,096	$	1,297,871	$	243,210		$	(2,002,157)		$	1,181,020

Schedule Of Condensed Consolidating Statement Of Comprehensive Income (Loss)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRTEEN WEEKS ENDED AUGUST 2, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	183,598	$	445,199	$	56,496	$	(49,416)	$	635,877
Cost of goods sold		136,433		243,627		45,591		(49,416)		376,235
Gross profit		47,165		201,572		10,905		–		259,642
Selling and administrative expenses		57,149		177,231		(6,040)		–		228,340
Operating (loss) earnings		(9,984)		24,341		16,945		–		31,302
Interest expense		(5,125)		–		–		–		(5,125)
Interest income		12		66		31		–		109
Intercompany interest income (expense)		3,828		(4,535)		707		–		–
(Loss) earnings before income taxes		(11,269)		19,872		17,683		–		26,286
Income tax benefit (provision)		1,684		(7,962)		(1,969)		–		(8,247)
Equity in earnings of subsidiaries, net of tax		27,649		15,739		–		(43,388)		–
Net earnings		18,064		27,649		15,714		(43,388)		18,039
Less: Net loss attributable to noncontrolling interests		–		–		(25)		–		(25)
Net earnings attributable to Brown Shoe Company, Inc.	$	18,064	$	27,649	$	15,739	$	(43,388)	$	18,064
Comprehensive income	$	17,555	$	27,640	$	15,745	$	(43,413)	$	17,527
Less: Comprehensive loss attributable to noncontrolling interests		–		–		(28)		–		(28)
Comprehensive income attributable to Brown Shoe Company, Inc.	$	17,555	$	27,640	$	15,773	$	(43,413)	$	17,555

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	362,758	$	846,779	$	93,120	$	(75,618)	$	1,227,039
Cost of goods sold		263,899		461,993		74,782		(75,618)		725,056
Gross profit		98,859		384,786		18,338		–		501,983
Selling and administrative expenses		106,346		337,198		(1,589)		–		441,955
Operating (loss) earnings		(7,487)		47,588		19,927		–		60,028
Interest expense		(10,430)		(1)		–		–		(10,431)
Interest income		13		125		47		–		185
Intercompany interest income (expense)		7,802		(8,614)		812		–		–
(Loss) earnings before income taxes		(10,102)		39,098		20,786		–		49,782
Income tax benefit (provision)		2,148		(15,916)		(2,499)		–		(16,267)
Equity in earnings of subsidiaries, net of tax		41,447		18,265		–		(59,712)		–
Net earnings		33,493		41,447		18,287		(59,712)		33,515
Less: Net earnings attributable to noncontrolling interests		–		–		22		–		22
Net earnings attributable to Brown Shoe Company, Inc.	$	33,493	$	41,447	$	18,265	$	(59,712)	$	33,493
Comprehensive income	$	33,473	$	41,996	$	18,266	$	(60,255)	$	33,480
Less: Comprehensive income attributable to noncontrolling interests		–		–		7		–		7
Comprehensive income attributable to Brown Shoe Company, Inc.	$	33,473	$	41,996	$	18,259	$	(60,255)	$	33,473

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
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
Operating (loss) earnings		(24,690)		36,900		10,602		–		22,812
Interest expense		(5,192)		–		–		–		(5,192)
Interest income		10		68		4		–		82
Intercompany interest income (expense)		3,475		(3,607)		132		–		–
(Loss) earnings before income taxes from continuing operations		(26,397)		33,361		10,738		–		17,702
Income tax benefit (provision)		4,259		(9,607)		1,267		–		(4,081)
Equity in earnings from continuing operations of subsidiaries, net of tax		35,833		12,079		–		(47,912)		–
Net earnings from continuing operations		13,695		35,833		12,005		(47,912)		13,621
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax		1,066		(410)		(36)		–		620
Disposition/impairment of discontinued operations, net of tax		–		1,042		–		–		1,042
Equity in earnings (loss) from discontinued operations of subsidiaries, net of tax		596		(36)		–		(560)		–
Net earnings (loss) from discontinued operations		1,662		596		(36)		(560)		1,662
Net earnings		15,357		36,429		11,969		(48,472)		15,283
Less: Net loss attributable to noncontrolling interests		–		–		(74)		–		(74)
Net earnings attributable to Brown Shoe Company, Inc.	$	15,357	$	36,429	$	12,043	$	(48,472)	$	15,357
Comprehensive income	$	15,092	$	35,956	$	8,393	$	(44,410)	$	15,031
Less: Comprehensive loss attributable to noncontrolling interests		–		–		(61)		–		(61)
Comprehensive income attributable to Brown Shoe Company, Inc.	$	15,092	$	35,956	$	8,454	$	(44,410)	$	15,092

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
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
Operating (loss) earnings		(32,758)		65,630		10,898		–		43,770
Interest expense		(10,822)		(91)		–		–		(10,913)
Interest income		13		132		5		–		150
Intercompany interest income (expense)		6,929		(7,186)		257		–		–
(Loss) earnings before income taxes from continuing operations		(36,638)		58,485		11,160		–		33,007
Income tax benefit (provision)		7,641		(20,173)		505		–		(12,027)
Equity in earnings from continuing operations of subsidiaries, net of tax		50,121		11,809		–		(61,930)		–
Net earnings from continuing operations		21,124		50,121		11,665		(61,930)		20,980
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax		(5,882)		1,181		(316)		–		(5,017)
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		(10,647)		(12,870)		–		23,517		–
Net loss from discontinued operations		(16,529)		(10,647)		(12,870)		23,517		(16,529)
Net earnings (loss)		4,595		39,474		(1,205)		(38,413)		4,451
Less: 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)	$	3,629	$	38,401	$	(4,527)	$	(33,963)	$	3,540
Less: Comprehensive loss attributable to noncontrolling interests		–		–		(89)		–		(89)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	3,629	$	38,401	$	(4,438)	$	(33,963)	$	3,629

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 2, 2014
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash (used for) provided by operating activities	$	(14,049)	$	54,088	$	26,452	$	–	$	66,491
Investing activities
Purchases of property and equipment		(2,810)		(20,496)		(205)		–		(23,511)
Capitalized software		(2,642)		(43)		(29)		–		(2,714)
Acquisition of trademarks		(65,065)		–		–		–		(65,065)
Intercompany investing		(624)		624		–		–		–
Net cash used for investing activities		(71,141)		(19,915)		(234)		–		(91,290)
Financing activities
Borrowings under revolving credit agreement		456,000		–		–		–		456,000
Repayments under revolving credit agreement		(463,000)		–		–		–		(463,000)
Dividends paid		(6,110)		–		–		–		(6,110)
Issuance of common stock under share-based plans, net		(523)		–		–		–		(523)
Tax benefit related to share-based plans		2,097		–		–		–		2,097
Intercompany financing		96,726		(36,441)		(60,285)		–		–
Net cash provided by (used for) financing activities		85,190		(36,441)		(60,285)		–		(11,536)
Effect of exchange rate changes on cash and cash equivalents		–		665		–		–		665
Decrease in cash and cash equivalents		–		(1,603)		(34,067)		–		(35,670)
Cash and cash equivalents at beginning of period		–		30,002		52,544		–		82,546
Cash and cash equivalents at end of period	$	–	$	28,399	$	18,477	$	–	$	46,876

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)
Net proceeds from sale of subsidiaries		–		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