Financial Information for the Company and its Subsidiaries (Tables)

6 Months Ended

Jul. 29, 2017

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
JULY 30, 2016
					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	44,348	$	15,673	$	105,708		$	—		$	165,729
Receivables, net	112,384		1,787		30,138			—			144,309
Inventories, net	159,285		467,691		21,905			—			648,881
Prepaid expenses and other current assets	13,641		11,479		5,070			—			30,190
Intercompany receivable – current	743		213		21,263			(22,219		)	—
Total current assets	330,401		496,843		184,084			(22,219		)	989,109
Other assets	93,839		13,728		7,881			—			115,448
Goodwill and intangible assets, net	114,446		2,800		11,814			—			129,060
Property and equipment, net	31,087		146,373		9,316			—			186,776
Investment in subsidiaries	1,055,300		—		(20,569		)	(1,034,731		)	—
Intercompany receivable  –  noncurrent	479,611		374,047		559,593			(1,413,251		)	—
Total assets	$	2,104,684	$	1,033,791	$	752,119		$	(2,470,201	)	$	1,420,393
Liabilities and Equity
Current liabilities
Trade accounts payable	$	111,166	$	216,850	$	30,735		$	—		$	358,751
Other accrued expenses	52,474		72,987		16,624			—			142,085
Intercompany payable – current	11,924		—		10,295			(22,219		)	—
Total current liabilities	175,564		289,837		57,654			(22,219		)	500,836
Other liabilities
Long-term debt	196,774		—		—			—			196,774
Other liabilities	37,253		67,119		3,646			—			108,018
Intercompany payable – noncurrent	1,081,306		41,537		290,408			(1,413,251		)	—
Total other liabilities	1,315,333		108,656		294,054			(1,413,251		)	304,792
Equity
Caleres, Inc. shareholders’ equity	613,787		635,298		399,433			(1,034,731		)	613,787
Noncontrolling interests	—		—		978			—			978
Total equity	613,787		635,298		400,411			(1,034,731		)	614,765
Total liabilities and equity	$	2,104,684	$	1,033,791	$	752,119		$	(2,470,201	)	$	1,420,393

CONDENSED CONSOLIDATING BALANCE SHEET
JANUARY 28, 2017
					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	23,999	$	9,029	$	22,304		$	—		$	55,332
Receivables, net	118,746		5,414		28,961			—			153,121
Inventories, net	150,098		410,867		24,799			—			585,764
Prepaid expenses and other current assets	24,293		23,040		8,058			(5,863		)	49,528
Intercompany receivable  – current	695		263		22,091			(23,049		)	—
Total current assets	317,831		448,613		106,213			(28,912		)	843,745
Other assets	51,181		16,567		826			—			68,574
Goodwill and intangible assets, net	113,333		219,337		11,088			—			343,758
Property and equipment, net	31,424		176,358		11,414			—			219,196
Investment in subsidiaries	1,343,954		—		(21,946		)	(1,322,008		)	—
Intercompany receivable  – noncurrent	568,541		366,902		581,624			(1,517,067		)	—
Total assets	$	2,426,264	$	1,227,777	$	689,219		$	(2,867,987	)	$	1,475,273
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	110,000	$	—	$	—		$	—		$	110,000
Trade accounts payable	116,783		112,434		37,153			—			266,370
Other accrued expenses	74,941		65,228		16,919			(5,863		)	151,225
Intercompany payable – current	12,794		—		10,255			(23,049		)	—
Total current liabilities	314,518		177,662		64,327			(28,912		)	527,595
Other liabilities
Long-term debt	197,003		—		—			—			197,003
Other liabilities	91,683		40,507		3,999			—			136,189
Intercompany payable – noncurrent	1,209,943		98,982		208,142			(1,517,067		)	—
Total other liabilities	1,498,629		139,489		212,141			(1,517,067		)	333,192
Equity
Caleres, Inc. shareholders’ equity	613,117		910,626		411,382			(1,322,008		)	613,117
Noncontrolling interests	—		—		1,369			—			1,369
Total equity	613,117		910,626		412,751			(1,322,008		)	614,486
Total liabilities and equity	$	2,426,264	$	1,227,777	$	689,219		$	(2,867,987	)	$	1,475,273

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
JULY 29, 2017
					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	12,712	$	20,638	$	19,592		$	—		$	52,942
Receivables, net	117,672		5,670		20,274			—			143,616
Inventories, net	174,839		516,704		30,462			—			722,005
Prepaid expenses and other current assets	23,944		14,463		7,466			(8,901		)	36,972
Intercompany receivable – current	845		134		25,056			(26,035		)	—
Total current assets	330,012		557,609		102,850			(34,936		)	955,535
Other assets	51,273		17,432		884			—			69,589
Goodwill and intangible assets, net	112,221		40,937		188,037			—			341,195
Property and equipment, net	32,428		172,802		12,608			—			217,838
Investment in subsidiaries	1,263,829		—		(22,724		)	(1,241,105		)	—
Intercompany receivable – noncurrent	745,812		519,304		669,176			(1,934,292		)	—
Total assets	$	2,535,575	$	1,308,084	$	950,831		$	(3,210,333	)	$	1,584,157
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	35,000	$	—	$	—		$	—		$	35,000
Trade accounts payable	124,675		247,169		30,968			—			402,812
Other accrued expenses	72,364		87,425		19,611			(8,901		)	170,499
Intercompany payable – current	14,523		—		11,512			(26,035		)	—
Total current liabilities	246,562		334,594		62,091			(34,936		)	608,311
Other liabilities
Long-term debt	197,233		—		—			—			197,233
Other liabilities	91,645		40,810		4,984			—			137,439
Intercompany payable – noncurrent	1,360,406		119,152		454,734			(1,934,292		)	—
Total other liabilities	1,649,284		159,962		459,718			(1,934,292		)	334,672
Equity
Caleres, Inc. shareholders’ equity	639,729		813,528		427,577			(1,241,105		)	639,729
Noncontrolling interests	—		—		1,445			—			1,445
Total equity	639,729		813,528		429,022			(1,241,105		)	641,174
Total liabilities and equity	$	2,535,575	$	1,308,084	$	950,831		$	(3,210,333	)	$	1,584,157

Schedule of Condensed Consolidating Statement of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED JULY 30, 2016
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	194,896		$	408,476		$	69,798		$	(50,233	)	$	622,937
Cost of goods sold	142,295			221,031			39,125			(39,069		)	363,382
Gross profit	52,601			187,445			30,673			(11,164		)	259,555
Selling and administrative expenses	52,841			170,463			15,157			(11,164		)	227,297
Operating (loss) earnings	(240		)	16,982			15,516			—			32,258
Interest expense	(3,481		)	2			—			—			(3,479		)
Interest income	174			—			136			—			310
Intercompany interest income (expense)	2,253			(2,276		)	23			—			—
(Loss) earnings before income taxes	(1,294		)	14,708			15,675			—			29,089
Income tax provision	(309		)	(6,436		)	(2,665		)	—			(9,410		)
Equity in earnings (loss) of subsidiaries, net of tax	21,371			—			(508		)	(20,863		)	—
Net earnings	19,768			8,272			12,502			(20,863		)	19,679
Less: Net loss attributable to noncontrolling interests	—			—			(89		)	—			(89		)
Net earnings attributable to Caleres, Inc.	$	19,768		$	8,272		$	12,591		$	(20,863	)	$	19,768
Comprehensive income	$	18,478		$	8,272		$	11,802		$	(20,194	)	$	18,358
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(120		)	—			(120		)
Comprehensive income attributable to Caleres, Inc.	$	18,478		$	8,272		$	11,922		$	(20,194	)	$	18,478

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE TWENTY-SIX WEEKS ENDED JULY 30, 2016
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	382,083		$	791,522		$	108,594		$	(74,529	)	$	1,207,670
Cost of goods sold	272,204			425,658			62,019			(59,559		)	700,322
Gross profit	109,879			365,864			46,575			(14,970		)	507,348
Selling and administrative expenses	102,383			327,566			31,368			(14,970		)	446,347
Operating earnings	7,496			38,298			15,207			—			61,001
Interest expense	(7,089		)	—			—			—			(7,089		)
Interest income	331			—			226			—			557
Intercompany interest income (expense)	4,507			(4,578		)	71			—			—
Earnings before income taxes	5,245			33,720			15,504			—			54,469
Income tax provision	(1,175		)	(12,740		)	(2,997		)	—			(16,912		)
Equity in earnings (loss) of subsidiaries, net of tax	33,481			—			(1,045		)	(32,436		)	—
Net earnings	37,551			20,980			11,462			(32,436		)	37,557
Less: Net earnings attributable to noncontrolling interests	—			—			6			—			6
Net earnings attributable to Caleres, Inc.	$	37,551		$	20,980		$	11,456		$	(32,436	)	$	37,551
Comprehensive income	$	38,056		$	20,980		$	12,031		$	(33,021	)	$	38,046
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(10		)	—			(10		)
Comprehensive income attributable to Caleres, Inc.	$	38,056		$	20,980		$	12,041		$	(33,021	)	$	38,056

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED JULY 29, 2017
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	194,305		$	482,645		$	63,175		$	(63,171	)	$	676,954
Cost of goods sold	137,659			270,548			32,543			(51,257		)	389,493
Gross profit	56,646			212,097			30,632			(11,914		)	287,461
Selling and administrative expenses	60,363			190,444			14,607			(11,914		)	253,500
Restructuring and other special charges, net	2,661			37			167			—			2,865
Operating (loss) earnings	(6,378		)	21,616			15,858			—			31,096
Interest expense	(4,634		)	(3		)	—			—			(4,637		)
Interest income	85			—			177			—			262
Intercompany interest income (expense)	2,021			(2,189		)	168			—			—
(Loss) earnings before income taxes	(8,906		)	19,424			16,203			—			26,721
Income tax benefit (provision)	2,926			(8,053		)	(3,920		)	—			(9,047		)
Equity in earnings of subsidiaries, net of tax	23,575			—			271			(23,846		)	—
Net earnings	17,595			11,371			12,554			(23,846		)	17,674
Less: Net earnings attributable to noncontrolling interests	—			—			79			—			79
Net earnings attributable to Caleres, Inc.	$	17,595		$	11,371		$	12,475		$	(23,846	)	$	17,595
Comprehensive income	$	19,302		$	11,371		$	13,302		$	(24,574	)	$	19,401
Less: Comprehensive income attributable to noncontrolling interests	—			—			99			—			99
Comprehensive income attributable to Caleres, Inc.	$	19,302		$	11,371		$	13,203		$	(24,574	)	$	19,302

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE TWENTY-SIX WEEKS ENDED JULY 29, 2017
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	388,745		$	910,184		$	101,220		$	(91,686	)	$	1,308,463
Cost of goods sold	270,510			502,334			51,073			(73,823		)	750,094
Gross profit	118,235			407,850			50,147			(17,863		)	558,369
Selling and administrative expenses	112,787			372,791			29,860			(17,863		)	497,575
Restructuring and other special charges, net	3,769			37			167			—			3,973
Operating earnings	1,679			35,022			20,120			—			56,821
Interest expense	(9,669		)	(12		)	—			—			(9,681		)
Interest income	173			—			324			—			497
Intercompany interest income (expense)	4,104			(4,513		)	409			—			—
(Loss) earnings before income taxes	(3,713		)	30,497			20,853			—			47,637
Income tax benefit (provision)	1,839			(11,928		)	(4,990		)	—			(15,079		)
Equity in earnings (loss) of subsidiaries, net of tax	34,371			—			(777		)	(33,594		)	—
Net earnings	32,497			18,569			15,086			(33,594		)	32,558
Less: Net earnings attributable to noncontrolling interests	—			—			61			—			61
Net earnings attributable to Caleres, Inc.	$	32,497		$	18,569		$	15,025		$	(33,594	)	$	32,497
Comprehensive income	$	34,865		$	18,569		$	15,755		$	(34,248	)	$	34,941
Less: Comprehensive income attributable to noncontrolling interests	—			—			76			—			76
Comprehensive income attributable to Caleres, Inc.	$	34,865		$	18,569		$	15,679		$	(34,248	)	$	34,865

Schedule of Condensed Consolidating Statement of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED JULY 30, 2016
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash provided by operating activities	$	20,198		$	68,129		$	20,237		$	—	$	108,564
Investing activities
Purchases of property and equipment	(1,525		)	(25,237		)	(681		)	—		(27,443		)
Capitalized software	(2,448		)	(1,300		)	(30		)	—		(3,778		)
Intercompany investing	(2,973		)	2,973			—			—		—
Net cash used for investing activities	(6,946		)	(23,564		)	(711		)	—		(31,221		)
Financing activities
Borrowings under revolving credit agreement	103,000			—			—			—		103,000
Repayments under revolving credit agreement	(103,000		)	—			—			—		(103,000		)
Dividends paid	(6,089		)	—			—			—		(6,089		)
Acquisition of treasury stock	(23,139		)	—			—			—		(23,139		)
Issuance of common stock under share-based plans, net	(4,086		)	—			—			—		(4,086		)
Excess tax benefit related to share-based plans	3,248			—			—			—		3,248
Intercompany financing	30,162			(28,892		)	(1,270		)	—		—
Net cash provided by (used for) financing activities	96			(28,892		)	(1,270		)	—		(30,066		)
Effect of exchange rate changes on cash and cash equivalents	—			—			301			—		301
Increase in cash and cash equivalents	13,348			15,673			18,557			—		47,578
Cash and cash equivalents at beginning of period	31,000			—			87,151			—		118,151
Cash and cash equivalents at end of period	$	44,348		$	15,673		$	105,708		$	—	$	165,729

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED JULY 29, 2017
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash (used for) provided by operating activities	$	(15,328	)	$	95,828		$	33,780		$	—	$	114,280
Investing activities
Purchases of property and equipment	(3,722		)	(17,762		)	(2,767		)	—		(24,251		)
Capitalized software	(2,686		)	(466		)	—			—		(3,152		)
Intercompany investing	(19,894		)	197,599			(177,705		)	—		—
Net cash (used for) provided by investing activities	(26,302		)	179,371			(180,472		)	—		(27,403		)
Financing activities
Borrowings under revolving credit agreement	400,000			—			—			—		400,000
Repayments under revolving credit agreement	(475,000		)	—			—			—		(475,000		)
Dividends paid	(6,030		)	—			—			—		(6,030		)
Acquisition of treasury stock	(5,993		)	—			—			—		(5,993		)
Issuance of common stock under share-based plans, net	(2,490		)	—			—			—		(2,490		)
Intercompany financing	119,856			(263,590		)	143,734			—		—
Net cash provided by (used for) financing activities	30,343			(263,590		)	143,734			—		(89,513		)
Effect of exchange rate changes on cash and cash equivalents	—			—			246			—		246
(Decrease) increase in cash and cash equivalents	(11,287		)	11,609			(2,712		)	—		(2,390		)
Cash and cash equivalents at beginning of period	23,999			9,029			22,304			—		55,332
Cash and cash equivalents at end of period	$	12,712		$	20,638		$	19,592		$	—	$	52,942