Financial Information For The Company And Its Subsidiaries (Tables)

9 Months Ended

Nov. 01, 2014

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF NOVEMBER 1, 2014
					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	—	$	23,217	$	15,863	$	—		$	39,080
Receivables, net	115,520		1,413		21,284		—			138,217
Inventories, net	128,709		431,679		7,389		—			567,777
Prepaid expenses and other current assets	33,828		971		3,046		—			37,845
Intercompany receivable – current	466		521		15,487		(16,474		)	—
Total current assets	278,523		457,801		63,069		(16,474		)	782,919
Other assets	124,472		14,785		621		—			139,878
Goodwill and intangible assets, net	118,416		17,358		—		—			135,774
Property and equipment, net	28,000		121,554		1,735		—			151,289
Investment in subsidiaries	935,580		190,534		—		(1,126,114		)	—
Intercompany receivable – noncurrent	410,794		524,296		252,220		(1,187,310		)	—
Total assets	$	1,895,785	$	1,326,328	$	317,645	$	(2,329,898	)	$	1,209,860
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	14,000	$	—	$	—	$	—		$	14,000
Trade accounts payable	53,944		129,350		19,768		—			203,062
Other accrued expenses	91,738		70,881		9,458		—			172,077
Intercompany payable – current	2,803		173		13,498		(16,474		)	—
Total current liabilities	162,485		200,404		42,724		(16,474		)	389,139
Other liabilities
Long-term debt	199,150		—		—		—			199,150
Other liabilities	36,267		44,082		205		—			80,554
Intercompany payable – noncurrent	957,629		146,262		83,419		(1,187,310		)	—
Total other liabilities	1,193,046		190,344		83,624		(1,187,310		)	279,704
Equity
Brown Shoe Company, Inc. shareholders’ equity	540,254		935,580		190,534		(1,126,114		)	540,254
Noncontrolling interests	—		—		763		—			763
Total equity	540,254		935,580		191,297		(1,126,114		)	541,017
Total liabilities and equity	$	1,895,785	$	1,326,328	$	317,645	$	(2,329,898	)	$	1,209,860

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF NOVEMBER 2, 2013
					Non-
($ thousands)	Parent		Guarantors		Guarantors		Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	—	$	29,722	$	12,684	$	—		$	42,406
Receivables, net	93,097		1,275		18,119		—			112,491
Inventories, net	98,548		439,807		6,234		—			544,589
Prepaid expenses and other current assets	37,418		11,423		3,393		—			52,234
Current assets – discontinued operations	158		—		23		—			181
Intercompany receivable – current	162		210		8,780		(9,152		)	—
Total current assets	229,383		482,437		49,233		(9,152		)	751,901
Other assets	95,221		15,812		614		—			111,647
Goodwill and intangible assets, net	56,369		18,812		—		—			75,181
Property and equipment, net	26,908		118,976		2,298		—			148,182
Investment in subsidiaries	851,906		152,992		—		(1,004,898		)	—
Intercompany receivable  –  noncurrent	431,414		483,444		225,061		(1,139,919		)	—
Total assets	$	1,691,201	$	1,272,473	$	277,206	$	(2,153,969	)	$	1,086,911
Liabilities and Equity
Current liabilities
Trade accounts payable	44,889		136,669		19,148		—			200,706
Other accrued expenses	58,289		83,483		9,370		—			151,142
Current liabilities – discontinued operations	2,065		—		45		—			2,110
Intercompany payable – current	2,979		147		6,026		(9,152		)	—
Total current liabilities	108,222		220,299		34,589		(9,152		)	353,958
Other liabilities
Long-term debt	198,963		—		—		—			198,963
Other liabilities	29,395		51,192		1,444		—			82,031
Intercompany payable – noncurrent	903,320		149,076		87,523		(1,139,919		)	—
Total other liabilities	1,131,678		200,268		88,967		(1,139,919		)	280,994
Equity
Brown Shoe Company, Inc. shareholders’ equity	451,301		851,906		152,992		(1,004,898		)	451,301
Noncontrolling interests	—		—		658		—			658
Total equity	451,301		851,906		153,650		(1,004,898		)	451,959
Total liabilities and equity	$	1,691,201	$	1,272,473	$	277,206	$	(2,153,969	)	$	1,086,911

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

Schedule Of Condensed Consolidating Statement Of Comprehensive Income (Loss)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRTEEN WEEKS ENDED NOVEMBER 1, 2014
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	233,606		$	488,876		$	41,363		$	(34,568	)	$	729,277
Cost of goods sold	165,734			274,595			32,786			(34,568		)	438,547
Gross profit	67,872			214,281			8,577			—			290,730
Selling and administrative expenses	62,554			172,758			2,205			—			237,517
Operating earnings	5,318			41,523			6,372			—			53,213
Interest expense	(5,207		)	—			—			—			(5,207		)
Interest income	6			56			47			—			109
Intercompany interest income (expense)	3,608			(3,504		)	(104		)	—			—
Earnings before income taxes	3,725			38,075			6,315			—			48,115
Income tax benefit (provision)	551			(14,190		)	(1,239		)	—			(14,878		)
Equity in earnings of subsidiaries, net of tax	28,837			4,952			—			(33,789		)	—
Net earnings	33,113			28,837			5,076			(33,789		)	33,237
Less: Net earnings attributable to noncontrolling interests	—			—			124			—			124
Net earnings attributable to Brown Shoe Company, Inc.	$	33,113		$	28,837		$	4,952		$	(33,789	)	$	33,113
Comprehensive income	$	32,014		$	27,896		$	5,107		$	(32,910	)	$	32,107
Less: Comprehensive income attributable to noncontrolling interests	—			—			93			—			93
Comprehensive income attributable to Brown Shoe Company, Inc.	$	32,014		$	27,896		$	5,014		$	(32,910	)	$	32,014

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 1, 2014
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	596,364		$	1,335,655		$	134,483		$	(110,186	)	$	1,956,316
Cost of goods sold	429,633			736,588			107,568			(110,186		)	1,163,603
Gross profit	166,731			599,067			26,915			—			792,713
Selling and administrative expenses	168,900			509,956			616			—			679,472
Operating (loss) earnings	(2,169		)	89,111			26,299			—			113,241
Interest expense	(15,636		)	(1		)	—			—			(15,637		)
Interest income	19			181			94			—			294
Intercompany interest income (expense)	11,410			(12,118		)	708			—			—
(Loss) earnings before income taxes	(6,376		)	77,173			27,101			—			97,898
Income tax benefit (provision)	2,698			(30,106		)	(3,738		)	—			(31,146		)
Equity in earnings of subsidiaries, net of tax	70,284			23,217			—			(93,501		)	—
Net earnings	66,606			70,284			23,363			(93,501		)	66,752
Less: Net earnings attributable to noncontrolling interests	—			—			146			—			146
Net earnings attributable to Brown Shoe Company, Inc.	$	66,606		$	70,284		$	23,217		$	(93,501	)	$	66,606
Comprehensive income	$	65,487		$	69,892		$	23,373		$	(93,165	)	$	65,587
Less: Comprehensive income attributable to noncontrolling interests	—			—			100			—			100
Comprehensive income attributable to Brown Shoe Company, Inc.	$	65,487		$	69,892		$	23,273		$	(93,165	)	$	65,487

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	551,962		$	1,361,742		$	136,825		$	(137,379	)	$	1,913,150
Cost of goods sold	412,736			754,229			110,682			(137,379		)	1,140,268
Gross profit	139,226			607,513			26,143			—			772,882
Selling and administrative expenses	169,097			504,351			5,074			—			678,522
Restructuring and other special charges, net	686			576			—			—			1,262
Impairment of assets held for sale	—			—			4,660			—			4,660
Operating (loss) earnings	(30,557		)	102,586			16,409			—			88,438
Interest expense	(16,076		)	(91		)	—			—			(16,167		)
Interest income	17			201			64			—			282
Intercompany interest income (expense)	10,487			(10,879		)	392			—			—
Intercompany dividend	—			7,778			(7,778		)	—			—
(Loss) earnings before income taxes from continuing operations	(36,129		)	99,595			9,087			—			72,553
Income tax benefit (provision)	2,630			(26,995		)	(157		)	—			(24,522		)
Equity in earnings from continuing operations of subsidiaries, net of tax	81,704			9,104			—			(90,808		)	—
Net earnings from continuing operations	48,205			81,704			8,930			(90,808		)	48,031
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax	(5,582		)	1,137			(339		)	—			(4,784		)
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	(10,714		)	(12,893		)	—			23,607			—
Net loss from discontinued operations	(16,296		)	(10,714		)	(12,893		)	23,607			(16,296		)
Net earnings (loss)	31,909			70,990			(3,963		)	(67,201		)	31,735
Less: Net loss attributable to noncontrolling interests	—			—			(174		)	—			(174		)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	31,909		$	70,990		$	(3,789	)	$	(67,201	)	$	31,909
Comprehensive income (loss)	$	30,944		$	69,709		$	(7,285	)	$	(62,538	)	$	30,830
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(114		)	—			(114		)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	30,944		$	69,709		$	(7,171	)	$	(62,538	)	$	30,944

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)
FOR THE THIRTEEN WEEKS ENDED NOVEMBER 2, 2013
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	213,028		$	498,383		$	36,753		$	(45,376	)	$	702,788
Cost of goods sold	157,500			282,617			29,807			(45,376		)	424,548
Gross profit	55,528			215,766			6,946			—			278,240
Selling and administrative expenses	53,327			178,810			1,435			—			233,572
Operating earnings	2,201			36,956			5,511			—			44,668
Interest expense	(5,254		)	—			—			—			(5,254		)
Interest income	4			69			59			—			132
Intercompany interest income (expense)	3,558			(3,693		)	135			—			—
Intercompany dividend	—			7,778			(7,778		)	—			—
Earnings (loss) before income taxes from continuing operations	509			41,110			(2,073		)	—			39,546
Income tax provision	(5,011		)	(6,822		)	(662		)	—			(12,495		)
Equity in earnings (loss) from continuing operations of subsidiaries, net of tax	31,583			(2,705		)	—			(28,878		)	—
Net earnings (loss) from continuing operations	27,081			31,583			(2,735		)	(28,878		)	27,051
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax	300			(44		)	(23		)	—			233
Equity in loss from discontinued operations of subsidiaries, net of tax	(67		)	(23		)	—			90			—
Net earnings (loss) from discontinued operations	233			(67		)	(23		)	90			233
Net earnings (loss)	27,314			31,516			(2,758		)	(28,788		)	27,284
Less: Net loss attributable to noncontrolling interests	—			—			(30		)	—			(30		)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	27,314		$	31,516		$	(2,728	)	$	(28,788	)	$	27,314
Comprehensive income (loss)	$	27,315		$	31,308		$	(2,758	)	$	(28,575	)	$	27,290
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(25		)	—			(25		)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	27,315		$	31,308		$	(2,733	)	$	(28,575	)	$	27,315

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 1, 2014
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash (used for) provided by operating activities	$	(31,850	)	$	71,874		$	28,478		$	—	$	68,502
Investing activities
Purchases of property and equipment	(5,142		)	(31,092		)	(297		)	—		(36,531		)
Capitalized software	(3,787		)	(32		)	(30		)	—		(3,849		)
Acquisition of trademarks	(65,065		)	—			—			—		(65,065		)
Investment in nonconsolidated affiliate	(7,000		)	—			—			—		(7,000		)
Intercompany investing	(717		)	717			—			—		—
Net cash used for investing activities	(81,711		)	(30,407		)	(327		)	—		(112,445		)
Financing activities
Borrowings under revolving credit agreement	741,000			—			—			—		741,000
Repayments under revolving credit agreement	(734,000		)	—			—			—		(734,000		)
Dividends paid	(9,173		)	—			—			—		(9,173		)
Issuance of common stock under share-based plans, net	237			—			—			—		237
Tax benefit related to share-based plans	2,482			—			—			—		2,482
Intercompany financing	113,015			(48,183		)	(64,832		)	—		—
Net cash provided by (used for) financing activities	113,561			(48,183		)	(64,832		)	—		546
Effect of exchange rate changes on cash and cash equivalents	—			(69		)	—			—		(69		)
Decrease in cash and cash equivalents	—			(6,785		)	(36,681		)	—		(43,466		)
Cash and cash equivalents at beginning of period	—			30,002			52,544			—		82,546
Cash and cash equivalents at end of period	$	—		$	23,217		$	15,863		$	—	$	39,080

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash provided by (used for) operating activities	$	27,271		$	60,573		$	(25,859	)	$	—	$	61,985
Investing activities
Purchases of property and equipment	(3,389		)	(33,737		)	(762		)	—		(37,888		)
Capitalized software	(3,591		)	(117		)	(7		)	—		(3,715		)
Intercompany investing	(1,024		)	1,024			—			—		—
Net proceeds from sale of subsidiaries	—			69,347			—			—		69,347
Net cash (used for) provided by investing activities	(8,004		)	36,517			(769		)	—		27,744
Financing activities
Borrowings under revolving credit agreement	966,000			—			—			—		966,000
Repayments under revolving credit agreement	(1,071,000		)	—			—			—		(1,071,000		)
Dividends paid	(9,073		)	—			—			—		(9,073		)
Issuance of common stock under share-based plans, net	(2,406		)	—			—			—		(2,406		)
Tax benefit related to share-based plans	2,581			—			—			—		2,581
Intercompany financing	94,631			(97,780		)	3,149			—		—
Net cash (used for) provided by financing activities	(19,267		)	(97,780		)	3,149			—		(113,898		)
Effect of exchange rate changes on cash and cash equivalents	—			(1,648		)	—			—		(1,648		)
Decrease in cash and cash equivalents	—			(2,338		)	(23,479		)	—		(25,817		)
Cash and cash equivalents at beginning of period	—			32,060			36,163			—		68,223
Cash and cash equivalents at end of period	$	—		$	29,722		$	12,684		$	—	$	42,406