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Condensed Consolidating Financial Information (Tables)
 12 Months Ended
Jan. 28, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Balance Sheet


MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 28, 2017
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
938

 
$
81

 
$
278

 
$
—

 
$
1,297

Receivables
—

 
169

 
353

 
—

 
522

Merchandise inventories
—

 
2,565

 
2,834

 
—

 
5,399

Prepaid expenses and other current assets
—

 
84

 
324

 
—

 
408

Total Current Assets
938

 
2,899

 
3,789

 
—

 
7,626

Property and Equipment – net
—

 
3,397

 
3,620

 
—

 
7,017

Goodwill
—

 
3,315

 
582

 
—

 
3,897

Other Intangible Assets – net
—

 
51

 
447

 
—

 
498

Other Assets
—

 
47

 
766

 
—

 
813

Deferred Income Taxes
26

 
—

 
—

 
(26
)
 
—

Intercompany Receivable
375

 
—

 
2,428

 
(2,803
)
 
—

Investment in Subsidiaries
3,137

 
3,540

 
—

 
(6,677
)
 
—

Total Assets
$
4,476

 
$
13,249

 
$
11,632

 
$
(9,506
)
 
$
19,851

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$
—

 
$
306

 
$
3

 
$
—

 
$
309

Merchandise accounts payable
—

 
590

 
833

 
—

 
1,423

Accounts payable and accrued liabilities
15

 
1,064

 
2,484

 
—

 
3,563

Income taxes
71

 
16

 
265

 
—

 
352

Total Current Liabilities
86

 
1,976

 
3,585

 
—

 
5,647

Long-Term Debt
—

 
6,544

 
18

 
—

 
6,562

Intercompany Payable
—

 
2,803

 
—

 
(2,803
)
 
—

Deferred Income Taxes
—

 
688

 
781

 
(26
)
 
1,443

Other Liabilities
66

 
500

 
1,311

 
—

 
1,877

Shareholders’ Equity:
 
 
 
 
 
 
 
 


Macy's, Inc.
4,323

 
738

 
5,939

 
(6,677
)
 
4,323

Noncontrolling Interest
—

 
—

 
(1
)
 
—

 
(1
)
Total Shareholders’ Equity
4,323

 
738

 
5,938

 
(6,677
)
 
4,322

Total Liabilities and Shareholders’ Equity
$
4,475

 
$
13,249

 
$
11,633

 
$
(9,506
)
 
$
19,851
Condensed Consolidating Statement of Comprehensive Income

 
Condensed Consolidating Statement of Cash Flows
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2014
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
1,526

 
$
563

 
$
1,589

 
$
(2,152
)
 
$
1,526

Impairments, store closing and other costs
—

 
45

 
42

 
—

 
87

Equity in earnings of subsidiaries
(1,528
)
 
(624
)
 
—

 
2,152

 
—

Dividends received from subsidiaries
1,088

 
1

 
—

 
(1,089
)
 
—

Depreciation and amortization
—

 
454

 
582

 
—

 
1,036

Increase (decrease) in working capital
9

 
74

 
(69
)
 
—

 
14

Other, net
(20
)
 
(177
)
 
243

 
—

 
46

Net cash provided by
operating activities
1,075

 
336

 
2,387

 
(1,089
)
 
2,709

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase (disposition) of property and equipment and capitalized software, net
—

 
(260
)
 
(636
)
 
—

 
(896
)
Other, net
—

 
(12
)
 
(62
)
 
—

 
(74
)
Net cash used by
investing activities
—

 
(272
)
 
(698
)
 
—

 
(970
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt repaid, net of debt issued
—

 
177

 
(3
)
 
—

 
174

Dividends paid
(421
)
 
—

 
(1,089
)
 
1,089

 
(421
)
Common stock acquired, net of
issuance of common stock
(1,643
)
 
—

 
—

 
—

 
(1,643
)
Proceeds from noncontrolling interest
—

 
—

 
—

 
—

 
—

Intercompany activity, net
927

 
(283
)
 
(644
)
 
—

 
—

Other, net
15

 
52

 
57

 
—

 
124

Net cash used by
financing activities
(1,122
)
 
(54
)
 
(1,679
)
 
1,089

 
(1,766
)
Net increase (decrease) in cash
and cash equivalents
(47
)
 
10

 
10

 
—

 
(27
)
Cash and cash equivalents at
beginning of period
1,955

 
84

 
234

 
—

 
2,273

Cash and cash equivalents at
end of period
$
1,908

 
$
94

 
$
244

 
$
—

 
$
2,246



MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income
$
1,072

 
$
89

 
$
1,402

 
$
(1,493
)
 
$
1,070

Impairments, store closing and other costs
—

 
170

 
118

 
—

 
288

Equity in earnings of subsidiaries
(1,072
)
 
(421
)
 
—

 
1,493

 
—

Dividends received from subsidiaries
1,086

 
—

 
—

 
(1,086
)
 
—

Depreciation and amortization
—

 
440

 
621

 
—

 
1,061

(Increase) decrease in working capital
25

 
(340
)
 
(81
)
 
—

 
(396
)
Other, net
(8
)
 
(78
)
 
47

 
—

 
(39
)
Net cash provided (used) by
operating activities
1,103

 
(140
)
 
2,107

 
(1,086
)
 
1,984

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net
—

 
(88
)
 
(821
)
 
—

 
(909
)
Other, net
—

 
83

 
(266
)
 
—

 
(183
)
Net cash used by
investing activities
—

 
(5
)
 
(1,087
)
 
—

 
(1,092
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt issued, net of debt repaid
—

 
348

 
(1
)
 
—

 
347

Dividends paid
(456
)
 
—

 
(1,086
)
 
1,086

 
(456
)
Common stock acquired, net of
issuance of common stock
(1,838
)
 
—

 
—

 
—

 
(1,838
)
Proceeds from noncontrolling interest
—

 
—

 
5

 
—

 
5

Intercompany activity, net
12

 
(243
)
 
231

 
—

 
—

Other, net
12

 
37

 
(136
)
 
—

 
(87
)
Net cash provided (used) by financing activities
(2,270
)
 
142

 
(987
)
 
1,086

 
(2,029
)
Net increase (decrease) in
cash and cash equivalents
(1,167
)
 
(3
)
 
33

 
—

 
(1,137
)
Cash and cash equivalents at
beginning of period
1,908

 
94

 
244

 
—

 
2,246

Cash and cash equivalents at
end of period
$
741

 
$
91

 
$
277

 
$
—

 
$
1,109


MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2016
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
619

 
$
(208
)
 
$
1,074

 
$
(874
)
 
$
611

Impairments, store closing and other costs
—

 
295

 
184

 
—

 
479

Settlement charges
—

 
34

 
64

 
—

 
98

Equity in earnings of subsidiaries
(619
)
 
(255
)
 
—

 
874

 
—

Dividends received from subsidiaries
957

 
575

 
—

 
(1,532
)
 
—

Depreciation and amortization
—

 
407

 
651

 
—

 
1,058

(Increase) decrease in working capital
110

 
(482
)
 
92

 
—

 
(280
)
Other, net
28

 
51

 
(244
)
 
—

 
(165
)
Net cash provided by
operating activities
1,095

 
417

 
1,821

 
(1,532
)
 
1,801

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net
—

 
12

 
(251
)
 
—

 
(239
)
Other, net
—

 
32

 
20

 
—

 
52

Net cash provided (used) by investing activities
—

 
44

 
(231
)
 
—

 
(187
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt repaid, net of debt issued
—

 
(750
)
 
1

 
—

 
(749
)
Dividends paid
(459
)
 
—

 
(1,532
)
 
1,532

 
(459
)
Common stock acquired, net of
issuance of common stock
(280
)
 
—

 
—

 
—

 
(280
)
Proceeds from noncontrolling interest
—

 
—

 
4

 
—

 
4

Intercompany activity, net
(144
)
 
255

 
(111
)
 
—

 
—

Other, net
(15
)
 
24

 
49

 
—

 
58

Net cash used by
financing activities
(898
)
 
(471
)
 
(1,589
)
 
1,532

 
(1,426
)
Net increase (decrease) in cash
and cash equivalents
197

 
(10
)
 
1

 
—

 
188

Cash and cash equivalents at
beginning of period
741

 
91

 
277

 
—

 
1,109

Cash and cash equivalents at
end of period
$
938

 
$
81

 
$
278

 
$
—

 
$
1,297