Financial Information for the Company and its Subsidiaries (Tables)

12 Months Ended

Feb. 03, 2018

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule of Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 3, 2018
					Non-Guarantors
($ thousands)	Parent		Guarantors					Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	26,089	$	—	$	37,958		$	—		$	64,047
Receivables, net	124,957		3,663		23,993			—			152,613
Inventories, net	146,068		394,438		28,873			—			569,379
Prepaid expenses and other current assets	26,284		30,456		8,394			(4,384		)	60,750
Intercompany receivable - current	521		74		9,250			(9,845		)	—
Total current assets	323,919		428,631		108,468			(14,229		)	846,789
Property and equipment, net	35,474		165,227		12,098			—			212,799
Goodwill and intangible assets, net	111,108		40,937		187,123			—			339,168
Other assets	76,317		13,610		732			—			90,659
Investment in subsidiaries	1,329,428		—		(23,565		)	(1,305,863		)	—
Intercompany receivable - noncurrent	774,588		520,362		704,810			(1,999,760		)	—
Total assets	$	2,650,834	$	1,168,767	$	989,666		$	(3,319,852	)	$	1,489,415
Liabilities and Equity
Current liabilities:
Trade accounts payable	$	136,797	$	102,420	$	33,745		$	—		$	272,962
Other accrued expenses	65,817		74,006		21,758			(4,384		)	157,197
Intercompany payable - current	5,524		—		4,321			(9,845		)	—
Total current liabilities	208,138		176,426		59,824			(14,229		)	430,159
Other liabilities:
Long-term debt	197,472		—		—			—			197,472
Other liabilities	101,784		35,574		5,464			—			142,822
Intercompany payable - noncurrent	1,425,951		98,610		475,199			(1,999,760		)	—
Total other liabilities	1,725,207		134,184		480,663			(1,999,760		)	340,294
Equity:
Caleres, Inc. shareholders’ equity	717,489		858,157		447,706			(1,305,863		)	717,489
Noncontrolling interests	—		—		1,473			—			1,473
Total equity	717,489		858,157		449,179			(1,305,863		)	718,962
Total liabilities and equity	$	2,650,834	$	1,168,767	$	989,666		$	(3,319,852	)	$	1,489,415

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JANUARY 28, 2017
					Non- Guarantors
($ thousands)	Parent		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
Property and equipment, net	31,424		176,358		11,414			—			219,196
Goodwill and intangible assets, net	113,333		219,337		11,088			—			343,758
Other assets	51,181		16,567		826			—			68,574
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

Schedule of Condensed Consolidating Statements of Earnings

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Net sales	$	837,849		$	1,935,265		$	211,815		$	(199,345	)	$	2,785,584
Cost of goods sold	580,038			1,090,354			109,104			(162,561		)	1,616,935
Gross profit	257,811			844,911			102,711			(36,784		)	1,168,649
Selling and administrative expenses	233,860			771,027			55,600			(36,784		)	1,023,703
Restructuring and other special charges, net	3,942			756			217			—			4,915
Operating earnings	20,009			73,128			46,894			—			140,031
Interest expense	(18,075		)	(14		)	—			—			(18,089		)
Interest income	332			—			432			—			764
Intercompany interest income (expense)	8,354			(8,813		)	459			—			—
Earnings before income taxes	10,620			64,301			47,785			—			122,706
Income tax provision	(24,963		)	(175		)	(10,337		)	—			(35,475		)
Equity in earnings (loss) of subsidiaries, net of tax	101,543			—			(1,619		)	(99,924		)	—
Net earnings	87,200			64,126			35,829			(99,924		)	87,231
Less: Net earnings attributable to noncontrolling interests	—			—			31			—			31
Net earnings attributable to Caleres, Inc.	$	87,200		$	64,126		$	35,798		$	(99,924	)	$	87,200

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations			Total
Net sales	$	825,654		$	1,692,093		$	227,557		$	(165,916	)	$	2,579,388
Cost of goods sold	583,131			938,169			129,410			(133,313		)	1,517,397
Gross profit	242,523			753,924			98,147			(32,603		)	1,061,991
Selling and administrative expenses	212,156			690,292			57,757			(32,603		)	927,602
Restructuring and other special charges, net	15,333			433			7,638			—			23,404
Operating earnings	15,034			63,199			32,752			—			110,985
Interest expense	(15,102		)	(9		)	—			—			(15,111		)
Interest income	811			—			569			—			1,380
Intercompany interest income (expense)	8,888			(9,033		)	145			—			—
Earnings before income taxes	9,631			54,157			33,466			—			97,254
Income tax provision	(5,075		)	(20,084		)	(6,009		)	—			(31,168		)
Equity in earnings (loss) of subsidiaries, net of tax	61,102			—			(2,422		)	(58,680		)	—
Net earnings	65,658			34,073			25,035			(58,680		)	66,086
Less: Net earnings attributable to noncontrolling interests	—			—			428			—			428
Net earnings attributable to Caleres, Inc.	$	65,658		$	34,073		$	24,607		$	(58,680	)	$	65,658

CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 30, 2016
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations			Total
Net sales	$	819,148		$	1,652,444		$	268,779		$	(162,941	)	$	2,577,430
Cost of goods sold	591,539			905,412			162,384			(129,708		)	1,529,627
Gross profit	227,609			747,032			106,395			(33,233		)	1,047,803
Selling and administrative expenses	235,210			649,020			61,699			(33,233		)	912,696
Operating (loss) earnings	(7,601		)	98,012			44,696			—			135,107
Interest expense	(16,588		)	(1		)	—			—			(16,589		)
Loss on early extinguishment of debt	(10,651		)	—			—			—			(10,651		)
Interest income	695			—			204			—			899
Intercompany interest income (expense)	14,363			(14,581		)	218			—			—
(Loss) earnings before income taxes	(19,782		)	83,430			45,118			—			108,766
Income tax benefit (provision)	8,755			(29,475		)	(6,222		)	—			(26,942		)
Equity in earnings (loss) of subsidiaries, net of tax	92,506			—			(616		)	(91,890		)	—
Net earnings	81,479			53,955			38,280			(91,890		)	81,824
Less: Net earnings attributable to noncontrolling interests	—			—			345			—			345
Net earnings attributable to Caleres, Inc.	$	81,479		$	53,955		$	37,935		$	(91,890	)	$	81,479

Schedule of Condensed Consolidating Statements of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
					Non-Guarantors
($ thousands)	Parent		Guarantors					Eliminations			Total
Net earnings	$	87,200	$	64,126	$	35,829		$	(99,924	)	$	87,231
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	—		—		1,116			—			1,116
Pension and other postretirement benefits adjustments	18,855		—		(61		)	—			18,794
Derivative financial instruments	1,539		14		(452		)	—			1,101
Other comprehensive income from investment in subsidiaries	544		—		—			(544		)	—
Other comprehensive income, net of tax	20,938		14		603			(544		)	21,011
Comprehensive income	108,138		64,140		36,432			(100,468		)	108,242
Comprehensive income attributable to noncontrolling interests	—		—		104			—			104
Comprehensive income attributable to Caleres, Inc.	$	108,138	$	64,140	$	36,328		$	(100,468	)	$	108,138

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
						Non-Guarantors
($ thousands)	Parent			Guarantors					Eliminations			Total
Net earnings	$	65,658		$	34,073	$	25,035		$	(58,680	)	$	66,086
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	—			—		1,045			—			1,045
Pension and other postretirement benefits adjustments	(24,790		)	—		62			—			(24,728		)
Derivative financial instruments	181			—		(1,115		)	—			(934		)
Other comprehensive income from investment in subsidiaries	39			—		—			(39		)	—
Other comprehensive loss, net of tax	(24,570		)	—		(8		)	(39		)	(24,617		)
Comprehensive income	41,088			34,073		25,027			(58,719		)	41,469
Comprehensive income attributable to noncontrolling interests	—			—		381			—			381
Comprehensive income attributable to Caleres, Inc.	$	41,088		$	34,073	$	24,646		$	(58,719	)	$	41,088

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED JANUARY 30, 2016
						Non-Guarantors
($ thousands)	Parent			Guarantors					Eliminations			Total
Net earnings	$	81,479		$	53,955	$	38,280		$	(91,890	)	$	81,824
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	—			—		(224		)	—			(224		)
Pension and other postretirement benefits adjustments	(8,838		)	—		249			—			(8,589		)
Derivative financial instruments	628			—		(460		)	—			168
Other comprehensive loss from investment in subsidiaries	(366		)	—		—			366			—
Other comprehensive loss, net of tax	(8,576		)	—		(435		)	366			(8,645		)
Comprehensive income	72,903			53,955		37,845			(91,524		)	73,179
Comprehensive income attributable to noncontrolling interests	—			—		276			—			276
Comprehensive income attributable to Caleres, Inc.	$	72,903		$	53,955	$	37,569		$	(91,524	)	$	72,903

Schedule of Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 3, 2018
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash provided by operating activities	$	40,601		$	90,745		$	60,029		$	—	$	191,375
Investing activities
Purchases of property and equipment	(9,522		)	(31,159		)	(4,039		)	—		(44,720		)
Capitalized software	(5,950		)	(483		)	(25		)	—		(6,458		)
Intercompany investing	(20,224		)	197,929			(177,705		)	—		—
Net cash (used for) provided by investing activities	(35,696		)	166,287			(181,769		)	—		(51,178		)
Financing activities
Borrowings under revolving credit agreement	454,000			—			—			—		454,000
Repayments under revolving credit agreement	(564,000		)	—			—			—		(564,000		)
Dividends paid	(12,027		)	—			—			—		(12,027		)
Acquisition of treasury stock	(5,993		)	—			—			—		(5,993		)
Issuance of common stock under share-based plans, net	(3,816		)	—			—			—		(3,816		)
Intercompany financing	129,021			(266,061		)	137,040			—		—
Net cash (used for) provided by financing activities	(2,815		)	(266,061		)	137,040			—		(131,836		)
Effect of exchange rate changes on cash and cash equivalents	—			—			354			—		354
Increase (decrease) in cash and cash equivalents	2,090			(9,029		)	15,654			—		8,715
Cash and cash equivalents at beginning of year	23,999			9,029			22,304			—		55,332
Cash and cash equivalents at end of year	$	26,089		$	—		$	37,958		$	—	$	64,047

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2017
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash provided by operating activities	$	66,800		$	71,781		$	45,041		$	—	$	183,622
Investing activities
Purchases of property and equipment	(4,769		)	(41,606		)	(4,148		)	—		(50,523		)
Capitalized software	(5,521		)	(3,481		)	(37		)	—		(9,039		)
Acquisition cost, net of cash received	(259,932		)	—			—			—		(259,932		)
Intercompany investing	(3,257		)	3,257			—			—		—
Net cash used for investing activities	(273,479		)	(41,830		)	(4,185		)	—		(319,494		)
Financing activities
Borrowings under revolving credit agreement	623,000			—			—			—		623,000
Repayments under revolving credit agreement	(513,000		)	—			—			—		(513,000		)
Dividends paid	(12,104		)	—			—			—		(12,104		)
Acquisition of treasury stock	(23,139		)	—			—			—		(23,139		)
Issuance of common stock under share-based plans, net	(4,188		)	—			—			—		(4,188		)
Excess tax benefit related to share-based plans	2,251			—			—			—		2,251
Intercompany financing	126,858			(20,922		)	(105,936		)	—		—
Net cash provided by (used for) financing activities	199,678			(20,922		)	(105,936		)	—		72,820
Effect of exchange rate changes on cash and cash equivalents	—			—			233			—		233
(Decrease) increase in cash and cash equivalents	(7,001		)	9,029			(64,847		)	—		(62,819		)
Cash and cash equivalents at beginning of year	31,000			—			87,151			—		118,151
Cash and cash equivalents at end of year	$	23,999		$	9,029		$	22,304		—		$	55,332

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED JANUARY 30, 2016
							Non-Guarantors
($ thousands)	Parent			Guarantors						Eliminations		Total
Net cash (used for) provided by operating activities	$	(1,259	)	$	99,222		$	51,189		$	—	$	149,152
Investing activities
Purchases of property and equipment	(14,585		)	(56,382		)	(2,512		)	—		(73,479		)
Proceeds from disposal of property and equipment	7,111			—			322			—		7,433
Capitalized software	(5,197		)	(2,538		)	—			—		(7,735		)
Intercompany investing	(568		)	568			—			—		—
Net cash used for investing activities	(13,239		)	(58,352		)	(2,190		)	—		(73,781		)
Financing activities
Borrowings under revolving credit agreement	198,000			—			—			—		198,000
Repayments under revolving credit agreement	(198,000		)	—			—			—		(198,000		)
Proceeds from issuance of 2023 senior notes	200,000			—			—			—		200,000
Redemption of 2019 senior notes	(200,000		)	—			—			—		(200,000		)
Dividends paid	(12,253		)	—			—			—		(12,253		)
Debt issuance costs	(3,650		)	—			—			—		(3,650		)
Acquisition of treasury stock	(4,921		)	—			—			—		(4,921		)
Issuance of common stock under share-based plans, net	(5,297		)	—			—			—		(5,297		)
Excess tax benefit related to share-based plans	2,651			—			—			—		2,651
Intercompany financing	55,077			(40,870		)	(14,207		)	—		—
Net cash provided by (used for) financing activities	31,607			(40,870		)	(14,207		)	—		(23,470		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(1,153		)	—		(1,153		)
Increase in cash and cash equivalents	17,109			—			33,639			—		50,748
Cash and cash equivalents at beginning of year	13,891			—			53,512			—		67,403
Cash and cash equivalents at end of year	$	31,000		$	—		$	87,151		$	—	$	118,151