Note 19 - Financial Information for the Company and its Subsidiaries (Tables)

12 Months Ended

Feb. 01, 2020

Notes Tables

Condensed Balance Sheet [Table Text Block]

($ thousands)	Parent		Guarantors		Non-Guarantors			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	19,219	$	3,878	$	22,121		$	—		$	45,218
Receivables, net		100,997		32,168		29,016			—			162,181
Inventories, net		142,370		435,794		40,242			—			618,406
Prepaid expenses and other current assets		35,576		13,603		7,315			—			56,494
Intercompany receivable - current		260		30		9,072			(9,362	)		—
Total current assets		298,422		485,473		107,766			(9,362	)		882,299
Property and equipment, net		76,587		138,461		9,798			—			224,846
Goodwill and intangible assets, net		106,660		326,565		106,354			—			539,579
Other assets		77,444		10,953		992			—			89,389
Lease right-of-use assets		137,374		528,393		29,827			—			695,594
Investment in subsidiaries		1,572,577		—		(26,123	)		(1,546,454	)		—
Intercompany receivable - noncurrent		606,648		663,640		809,060			(2,079,348	)		—
Total assets	$	2,875,712	$	2,153,485	$	1,037,674		$	(3,635,164	)	$	2,431,707
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement	$	275,000	$	—	$	—		$	—		$	275,000
Trade accounts payable		113,484		112,108		41,426			—			267,018
Lease obligations		4,679		116,738		6,452			—			127,869
Other accrued expenses		86,661		73,122		21,280			—			181,063
Intercompany payable - current		5,349		—		4,013			(9,362	)		—
Total current liabilities		485,173		301,968		73,171			(9,362	)		850,950
Other liabilities:
Noncurrent lease obligations		145,845		454,343		28,844			—			629,032
Long-term debt		198,391		—		—			—			198,391
Other liabilities		101,386		1,878		940			—			104,204
Intercompany payable - noncurrent		1,298,967		115,005		665,376			(2,079,348	)		—
Total other liabilities		1,744,589		571,226		695,160			(2,079,348	)		931,627
Equity:
Caleres, Inc. shareholders’ equity		645,950		1,280,291		266,163			(1,546,454	)		645,950
Noncontrolling interests		—		—		3,180			—			3,180
Total equity		645,950		1,280,291		269,343			(1,546,454	)		649,130
Total liabilities and equity	$	2,875,712	$	2,153,485	$	1,037,674		$	(3,635,164	)	$	2,431,707

($ thousands)	Parent		Guarantors		Non- Guarantors			Eliminations			Total
Assets
Current assets:
Cash and cash equivalents	$	2	$	9,148	$	21,050		$	—		$	30,200
Receivables, net		130,684		32,319		28,719			—			191,722
Inventories, net		175,697		470,610		36,864			—			683,171
Prepaid expenses and other current assets		31,195		32,556		7,603			—			71,354
Intercompany receivable - current		190		42		15,279			(15,511	)		—
Total current assets		337,768		544,675		109,515			(15,511	)		976,447
Property and equipment, net		62,608		157,270		10,906			—			230,784
Goodwill and intangible assets, net		108,884		331,810		109,203			—			549,897
Other assets		68,707		11,824		909			—			81,440
Investment in subsidiaries		1,499,209		—		(24,838	)		(1,474,371	)		—
Intercompany receivable - noncurrent		597,515		578,821		762,281			(1,938,617	)		—
Total assets	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement	$	335,000	$	—	$	—		$	—		$	335,000
Trade accounts payable		146,400		130,670		39,228			—			316,298
Other accrued expenses		95,498		86,015		20,525			—			202,038
Intercompany payable - current		10,781		—		4,730			(15,511	)		—
Total current liabilities		587,679		216,685		64,483			(15,511	)		853,336
Other liabilities:
Long-term debt		197,932		—		—			—			197,932
Other liabilities		105,689		41,149		5,027			—			151,865
Intercompany payable - noncurrent		1,149,338		115,114		674,165			(1,938,617	)		—
Total other liabilities		1,452,959		156,263		679,192			(1,938,617	)		349,797
Equity:
Caleres, Inc. shareholders’ equity		634,053		1,251,452		222,919			(1,474,371	)		634,053
Noncontrolling interests		—		—		1,382			—			1,382
Total equity		634,053		1,251,452		224,301			(1,474,371	)		635,435
Total liabilities and equity	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568

Condensed Income Statement [Table Text Block]

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Net sales	$	823,620		$	2,072,226		$	264,815		$	(239,099	)	$	2,921,562
Cost of goods sold		570,273			1,226,445			141,226			(200,742	)		1,737,202
Gross profit		253,347			845,781			123,589			(38,357	)		1,184,360
Selling and administrative expenses		239,973			794,046			70,098			(38,357	)		1,065,760
Restructuring and other special charges, net		11,270			3,517			—			—			14,787
Operating earnings		2,104			48,218			53,491			—			103,813
Interest (expense) income		(33,126	)		(104	)		107			—			(33,123	)
Other income (expense)		7,934			—			(31	)		—			7,903
Intercompany interest income (expense)		10,799			(10,891	)		92			—			—
(Loss) earnings before income taxes		(12,289	)		37,223			53,659			—			78,593
Income tax benefit (provision)		1,029			(9,476	)		(8,064	)		—			(16,511	)
Equity in earnings (loss) of subsidiaries, net of tax		74,079			—			(1,283	)		(72,796	)		—
Net earnings		62,819			27,747			44,312			(72,796	)		62,082
Less: Net loss attributable to noncontrolling interests		—			—			(737	)		—			(737	)
Net earnings attributable to Caleres, Inc.	$	62,819		$	27,747		$	45,049		$	(72,796	)	$	62,819

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Net sales	$	888,234		$	1,975,219		$	237,607		$	(266,214	)	$	2,834,846
Cost of goods sold		619,120			1,157,558			124,037			(222,213	)		1,678,502
Gross profit		269,114			817,661			113,570			(44,001	)		1,156,344
Selling and administrative expenses		267,584			760,754			57,428			(44,001	)		1,041,765
Impairment of goodwill and intangible assets		—			—			98,044			—			98,044
Restructuring and other special charges, net		9,734			6,400			—			—			16,134
Operating (loss) earnings		(8,204	)		50,507			(41,902	)		—			401
Interest (expense) income		(19,048	)		(25	)		796			—			(18,277	)
Loss on early extinguishment of debt		(186	)		—			—			—			(186	)
Other income (expense)		12,408			—			(100	)		—			12,308
Intercompany interest income (expense)		11,436			(11,494	)		58			—			—
(Loss) earnings before income taxes		(3,594	)		38,988			(41,148	)		—			(5,754	)
Income tax benefit (provision)		1,687			(7,719	)		6,305			—			273
Equity in loss of subsidiaries, net of tax		(3,534	)		—			(1,275	)		4,809			—
Net (loss) earnings		(5,441	)		31,269			(36,118	)		4,809			(5,481	)
Less: Net loss attributable to noncontrolling interests		—			—			(40	)		—			(40	)
Net (loss) earnings attributable to Caleres, Inc.	$	(5,441	)	$	31,269		$	(36,078	)	$	4,809		$	(5,441	)

($ 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		246,208			771,027			55,600			(36,784	)		1,036,051
Restructuring and other special charges, net		3,942			756			217			—			4,915
Operating earnings		7,661			73,128			46,894			—			127,683
Interest (expense) income		(17,743	)		(14	)		432			—			(17,325	)
Other income		12,348			—			—			—			12,348
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 Statement of Comprehensive Income [Table Text Block]

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations			Total
Net earnings	$	62,819		$	27,747		$	44,312		$	(72,796	)	$	62,082
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment		—			—			(607	)		—			(607	)
Pension and other postretirement benefits adjustments		76			(131	)		(61	)		—			(116	)
Derivative financial instruments		588			7			(79	)		—			516
Other comprehensive loss from investment in subsidiaries		(906	)		—			—			906			—
Other comprehensive loss, net of tax		(242	)		(124	)		(747	)		906			(207	)
Comprehensive income		62,577			27,623			43,565			(71,890	)		61,875
Comprehensive loss attributable to noncontrolling interests		—			—			(702	)		—			(702	)
Comprehensive income attributable to Caleres, Inc.	$	62,577		$	27,623		$	44,267		$	(71,890	)	$	62,577

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations		Total
Net (loss) earnings	$	(5,441	)	$	31,269		$	(36,118	)	$	4,809	$	(5,481	)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment		—			—			(1,224	)		—		(1,224	)
Pension and other postretirement benefits adjustments		(13,663	)		—			(220	)		—		(13,883	)
Derivative financial instruments		(1,967	)		(38	)		630			—		(1,375	)
Other comprehensive loss from investment in subsidiaries		(801	)		—			—			801		—
Other comprehensive loss, net of tax		(16,431	)		(38	)		(814	)		801		(16,482	)
Comprehensive (loss) income		(21,872	)		31,231			(36,932	)		5,610		(21,963	)
Comprehensive loss attributable to noncontrolling interests		—			—			(91	)		—		(91	)
Comprehensive (loss) income attributable to Caleres, Inc.	$	(21,872	)	$	31,231		$	(36,841	)	$	5,610	$	(21,872	)

($ thousands)	Parent		Guarantors		Non-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 Cash Flow Statement [Table Text Block]

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations		Total
Net cash provided by operating activities	$	26,546		$	90,612		$	53,628		$	—	$	170,786
Investing activities
Purchases of property and equipment		(23,695	)		(18,336	)		(2,502	)		—		(44,533	)
Disposals of property and equipment		636			—			—			—		636
Capitalized software		(5,363	)		(256	)		—			—		(5,619	)
Intercompany investing		(421	)		421			—			—		—
Net cash used for investing activities		(28,843	)		(18,171	)		(2,502	)		—		(49,516	)
Financing activities
Borrowings under revolving credit agreement		288,500			—			—			—		288,500
Repayments under revolving credit agreement		(348,500	)		—			—			—		(348,500	)
Dividends paid		(11,422	)		—			—			—		(11,422	)
Acquisition of treasury stock		(33,424	)		—			—			—		(33,424	)
Issuance of common stock under share-based plans, net		(2,644	)		—			—			—		(2,644	)
Contributions by noncontrolling interests		—			—			2,500			—		2,500
Other		(85	)		(1,257	)		—			—		(1,342	)
Intercompany financing		129,089			(76,454	)		(52,635	)		—		—
Net cash provided by (used for) financing activities		21,514			(77,711	)		(50,135	)		—		(106,332	)
Effect of exchange rate changes on cash and cash equivalents		—			—			80			—		80
Increase (decrease) in cash and cash equivalents		19,217			(5,270	)		1,071			—		15,018
Cash and cash equivalents at beginning of year	$	2		$	9,148		$	21,050		$	—		30,200
Cash and cash equivalents at end of year	$	19,219		$	3,878		$	22,121		$	—	$	45,218

($ thousands)	Parent			Guarantors			Non-Guarantors			Eliminations		Total
Net cash provided by operating activities	$	21,220		$	84,546		$	23,823		$	—	$	129,589
Investing activities
Purchases of property and equipment		(34,583	)		(25,871	)		(2,029	)		—		(62,483	)
Capitalized software		(3,962	)		(454	)		—			—		(4,416	)
Acquisition of Blowfish Malibu, net of cash received		(16,792	)		—			—			—		(16,792	)
Acquisition of Vionic, net of cash received		(352,666	)		—			—			—		(352,666	)
Intercompany investing		(137	)		137			—			—		—
Net cash used for investing activities		(408,140	)		(26,188	)		(2,029	)		—		(436,357	)
Financing activities
Borrowings under revolving credit agreement		360,000			—			—			—		360,000
Repayments under revolving credit agreement		(25,000	)		—			—			—		(25,000	)
Repayments of capital lease obligation		—			(406	)		—			—		(406	)
Dividends paid		(11,983	)		—			—			—		(11,983	)
Debt issuance costs		(1,298	)		—			—			—		(1,298	)
Acquisition of treasury stock		(43,771	)		—			—			—		(43,771	)
Issuance of common stock under share-based plans, net		(4,372	)		—			—			—		(4,372	)
Intercompany financing		87,257			(48,804	)		(38,453	)		—		—
Net cash provided by (used for) financing activities		360,833			(49,210	)		(38,453	)		—		273,170
Effect of exchange rate changes on cash and cash equivalents		—			—			(249	)		—		(249	)
(Decrease) increase in cash and cash equivalents		(26,087	)		9,148			(16,908	)		—		(33,847	)
Cash and cash equivalents at beginning of year		26,089			—			37,958			—		64,047
Cash and cash equivalents at end of year	$	2		$	9,148		$	21,050		$	—	$	30,200

($ thousands)	Parent			Guarantors			Non-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