Financial Information for the Company and its Subsidiaries (Tables)

6 Months Ended

Aug. 04, 2018

Jul. 29, 2017

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AUGUST 4, 2018
					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	14,182	$	30,730	$	57,972		$	—		$	102,884
Receivables, net	127,466		3,788		22,167			—			153,421
Inventories, net	164,595		518,024		33,086			—			715,705
Prepaid expenses and other current assets	38,183		29,274		7,240			(12,538		)	62,159
Intercompany receivable – current	170		94		17,656			(17,920		)	—
Total current assets	344,596		581,910		138,121			(30,458		)	1,034,169
Other assets	75,790		12,621		1,290			—			89,701
Goodwill and intangible assets, net	111,728		40,937		209,384			—			362,049
Property and equipment, net	35,682		160,223		11,821			—			207,726
Investment in subsidiaries	1,375,185		—		(24,159		)	(1,351,026		)	—
Intercompany receivable – noncurrent	797,184		527,462		720,698			(2,045,344		)	—
Total assets	$	2,740,165	$	1,323,153	$	1,057,155		$	(3,426,828	)	$	1,693,645
Liabilities and Equity
Current liabilities
Trade accounts payable	$	165,241	$	202,310	$	32,840		$	—		$	400,391
Other accrued expenses	83,094		100,567		24,864			(12,538		)	195,987
Intercompany payable – current	10,852		—		7,068			(17,920		)	—
Total current liabilities	259,187		302,877		64,772			(30,458		)	596,378
Other liabilities
Long-term debt	197,702		—		—			—			197,702
Other liabilities	118,125		39,124		5,122			—			162,371
Intercompany payable – noncurrent	1,429,298		93,335		522,711			(2,045,344		)	—
Total other liabilities	1,745,125		132,459		527,833			(2,045,344		)	360,073
Equity
Caleres, Inc. shareholders’ equity	735,853		887,817		463,209			(1,351,026		)	735,853
Noncontrolling interests	—		—		1,341			—			1,341
Total equity	735,853		887,817		464,550			(1,351,026		)	737,194
Total liabilities and equity	$	2,740,165	$	1,323,153	$	1,057,155		$	(3,426,828	)	$	1,693,645

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

CONDENSED CONSOLIDATING BALANCE SHEET
FEBRUARY 3, 2018
					Non-
($ thousands)	Parent		Guarantors		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
Other assets	76,317		13,610		732			—			90,659
Goodwill and intangible assets, net	111,108		40,937		187,123			—			339,168
Property and equipment, net	35,474		165,227		12,098			—			212,799
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

Schedule of Condensed Consolidating Statement of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED AUGUST 4, 2018
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	212,252		$	501,803		$	64,765		$	(72,208	)	$	706,612
Cost of goods sold	150,630			288,580			33,409			(59,108		)	413,511
Gross profit	61,622			213,223			31,356			(13,100		)	293,101
Selling and administrative expenses	73,587			185,510			12,838			(13,100		)	258,835
Restructuring and other special charges, net	324			1,799			—			—			2,123
Operating (loss) earnings	(12,289		)	25,914			18,518			—			32,143
Interest (expense) income	(3,805		)	(13		)	216			—			(3,602		)
Other income (expense)	3,084			—			(6		)	—			3,078
Intercompany interest income (expense)	2,873			(2,900		)	27			—			—
(Loss) earnings before income taxes	(10,137		)	23,001			18,755			—			31,619
Income tax benefit (provision)	1,900			(6,833		)	(3,075		)	—			(8,008		)
Equity in earnings (loss) of subsidiaries, net of tax	31,883			—			(116		)	(31,767		)	—
Net earnings	23,646			16,168			15,564			(31,767		)	23,611
Less: Net loss attributable to noncontrolling interests	—			—			(35		)	—			(35		)
Net earnings attributable to Caleres, Inc.	$	23,646		$	16,168		$	15,599		$	(31,767	)	$	23,646
Comprehensive income	$	22,999		$	16,158		$	15,467		$	(31,717	)	$	22,907
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(92		)	—			(92		)
Comprehensive income attributable to Caleres, Inc.	$	22,999		$	16,158		$	15,559		$	(31,717	)	$	22,999

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 4, 2018
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	411,512		$	947,498		$	102,157		$	(122,413	)	$	1,338,754
Cost of goods sold	285,223			536,379			51,276			(102,147		)	770,731
Gross profit	126,289			411,119			50,881			(20,266		)	568,023
Selling and administrative expenses	139,930			363,396			25,973			(20,266		)	509,033
Restructuring and other special charges, net	848			3,052			—			—			3,900
Operating (loss) earnings	(14,489		)	44,671			24,908			—			55,090
Interest (expense) income	(7,624		)	(25		)	364			—			(7,285		)
Other income (expense)	6,204			—			(35		)	—			6,169
Intercompany interest income (expense)	5,641			(5,699		)	58			—			—
(Loss) earnings before income taxes	(10,268		)	38,947			25,295			—			53,974
Income tax benefit (provision)	947			(10,135		)	(3,995		)	—			(13,183		)
Equity in earnings (loss) of subsidiaries, net of tax	50,179			—			(594		)	(49,585		)	—
Net earnings	40,858			28,812			20,706			(49,585		)	40,791
Less: Net loss attributable to noncontrolling interests	—			—			(67		)	—			(67		)
Net earnings attributable to Caleres, Inc.	$	40,858		$	28,812		$	20,773		$	(49,585	)	$	40,858
Comprehensive income	$	39,324		$	28,784		$	20,462		$	(49,378	)	$	39,192
Less: Comprehensive loss attributable to noncontrolling interests	—			—			(132		)	—			(132		)
Comprehensive income attributable to Caleres, Inc.	$	39,324		$	28,784		$	20,594		$	(49,378	)	$	39,324

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	63,042			190,444			14,598			(11,914		)	256,170
Restructuring and other special charges, net	2,661			37			167			—			2,865
Operating (loss) earnings	(9,057		)	21,616			15,867			—			28,426
Interest (expense) income	(4,549		)	(3		)	177			—			(4,375		)
Other income (expense)	2,679			—			(9		)	—			2,670
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	117,911			372,791			29,842			(17,863		)	502,681
Restructuring and other special charges, net	3,769			37			167			—			3,973
Operating (loss) earnings	(3,445		)	35,022			20,138			—			51,715
Interest (expense) income	(9,496		)	(12		)	324			—			(9,184		)
Other income (expense)	5,124			—			(18		)	—			5,106
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 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

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 4, 2018
							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash provided by operating activities	$	11,317		$	53,920		$	25,770		$	—	$	91,007
Investing activities
Purchases of property and equipment	(4,339		)	(13,044		)	(1,176		)	—		(18,559		)
Capitalized software	(2,665		)	(286		)	—			—		(2,951		)
Acquisition cost, net of cash received	9,141			—			(25,934		)	—		(16,793		)
Intercompany investing	141			(141		)	—			—		—
Net cash provided by (used for) investing activities	2,278			(13,471		)	(27,110		)	—		(38,303		)
Financing activities
Dividends paid	(6,053		)	—			—			—		(6,053		)
Acquisition of treasury stock	(3,288		)	—			—			—		(3,288		)
Issuance of common stock under share-based plans, net	(4,365		)	—			—			—		(4,365		)
Intercompany financing	(11,796		)	(9,719		)	21,515			—		—
Net cash (used for) provided by financing activities	(25,502		)	(9,719		)	21,515			—		(13,706		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(161		)	—		(161		)
(Decrease) increase in cash and cash equivalents	(11,907		)	30,730			20,014			—		38,837
Cash and cash equivalents at beginning of period	26,089			—			37,958			—		64,047
Cash and cash equivalents at end of period	$	14,182		$	30,730		$	57,972		$	—	$	102,884