v2.4.1.9

Condensed Consolidating Financial Information (Tables) | 12 Months Ended
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Jan. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheet | MACY’S, INC. Condensed Consolidating Balance Sheet As of February 1, 2014 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS: |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,955 |  |  | $ | 84 |  |  | $ | 234 |  |  | $ | — |  |  | $ | 2,273 |
Receivables | — |  |  | 102 |  |  | 336 |  |  | — |  |  | 438 |
Merchandise inventories | — |  |  | 2,896 |  |  | 2,661 |  |  | — |  |  | 5,557 |
Prepaid expenses and other current assets | — |  |  | 103 |  |  | 317 |  |  | — |  |  | 420 |
Income taxes | 80 |  |  | — |  |  | — |  |  | (80 | ) |  | — |
Total Current Assets | 2,035 |  |  | 3,185 |  |  | 3,548 |  |  | (80 | ) |  | 8,688 |
Property and Equipment – net | — |  |  | 4,590 |  |  | 3,340 |  |  | — |  |  | 7,930 |
Goodwill | — |  |  | 3,315 |  |  | 428 |  |  | — |  |  | 3,743 |
Other Intangible Assets – net | — |  |  | 97 |  |  | 430 |  |  | — |  |  | 527 |
Other Assets | 4 |  |  | 87 |  |  | 641 |  |  | — |  |  | 732 |
Deferred Income Taxes | 19 |  |  | — |  |  | — |  |  | (19 | ) |  | — |
Intercompany Receivable | — |  |  | — |  |  | 3,561 |  |  | (3,561 | ) |  | — |
Investment in Subsidiaries | 4,625 |  |  | 3,157 |  |  | — |  |  | (7,782 | ) |  | — |
Total Assets | $ | 6,683 |  |  | $ | 14,431 |  |  | $ | 11,948 |  |  | $ | (11,442 | ) |  | $ | 21,620 |
LIABILITIES AND SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 461 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 463 |
Merchandise accounts payable | — |  |  | 760 |  |  | 931 |  |  | — |  |  | 1,691 |
Accounts payable and accrued liabilities | 10 |  |  | 1,265 |  |  | 1,535 |  |  | — |  |  | 2,810 |
Income taxes | — |  |  | 80 |  |  | 362 |  |  | (80 | ) |  | 362 |
Deferred income taxes | — |  |  | 315 |  |  | 85 |  |  | — |  |  | 400 |
Total Current Liabilities | 10 |  |  | 2,881 |  |  | 2,915 |  |  | (80 | ) |  | 5,726 |
Long-Term Debt | — |  |  | 6,694 |  |  | 20 |  |  | — |  |  | 6,714 |
Intercompany Payable | 362 |  |  | 3,199 |  |  | — |  |  | (3,561 | ) |  | — |
Deferred Income Taxes | — |  |  | 544 |  |  | 748 |  |  | (19 | ) |  | 1,273 |
Other Liabilities | 62 |  |  | 522 |  |  | 1,074 |  |  | — |  |  | 1,658 |
Shareholders’ Equity | 6,249 |  |  | 591 |  |  | 7,191 |  |  | (7,782 | ) |  | 6,249 |
Total Liabilities and Shareholders’ Equity | $ | 6,683 |  |  | $ | 14,431 |  |  | $ | 11,948 |  |  | $ | (11,442 | ) |  | $ | 21,620 |
MACY’S, INC. Condensed Consolidating Balance Sheet As of January 31, 2015 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS: |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1,908 |  |  | $ | 94 |  |  | $ | 244 |  |  | $ | — |  |  | $ | 2,246 |
Receivables | — |  |  | 97 |  |  | 327 |  |  | — |  |  | 424 |
Merchandise inventories | — |  |  | 2,817 |  |  | 2,699 |  |  | — |  |  | 5,516 |
Prepaid expenses and other current assets | — |  |  | 113 |  |  | 380 |  |  | — |  |  | 493 |
Income taxes | 88 |  |  | — |  |  | — |  |  | (88 | ) |  | — |
Total Current Assets | 1,996 |  |  | 3,121 |  |  | 3,650 |  |  | (88 | ) |  | 8,679 |
Property and Equipment – net | — |  |  | 4,315 |  |  | 3,485 |  |  | — |  |  | 7,800 |
Goodwill | — |  |  | 3,315 |  |  | 428 |  |  | — |  |  | 3,743 |
Other Intangible Assets – net | — |  |  | 73 |  |  | 423 |  |  | — |  |  | 496 |
Other Assets | 1 |  |  | 74 |  |  | 668 |  |  | — |  |  | 743 |
Deferred Income Taxes | 10 |  |  | — |  |  | — |  |  | (10 | ) |  | — |
Intercompany Receivable | — |  |  | — |  |  | 4,140 |  |  | (4,140 | ) |  | — |
Investment in Subsidiaries | 4,655 |  |  | 3,526 |  |  | — |  |  | (8,181 | ) |  | — |
Total Assets | $ | 6,662 |  |  | $ | 14,424 |  |  | $ | 12,794 |  |  | $ | (12,419 | ) |  | $ | 21,461 |
LIABILITIES AND SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 75 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 76 |
Merchandise accounts payable | — |  |  | 784 |  |  | 909 |  |  | — |  |  | 1,693 |
Accounts payable and accrued liabilities | 42 |  |  | 1,360 |  |  | 1,707 |  |  | — |  |  | 3,109 |
Income taxes | — |  |  | 22 |  |  | 362 |  |  | (88 | ) |  | 296 |
Deferred income taxes | — |  |  | 295 |  |  | 67 |  |  | — |  |  | 362 |
Total Current Liabilities | 42 |  |  | 2,536 |  |  | 3,046 |  |  | (88 | ) |  | 5,536 |
Long-Term Debt | — |  |  | 7,245 |  |  | 20 |  |  | — |  |  | 7,265 |
Intercompany Payable | 1,215 |  |  | 2,925 |  |  | — |  |  | (4,140 | ) |  | — |
Deferred Income Taxes | — |  |  | 414 |  |  | 677 |  |  | (10 | ) |  | 1,081 |
Other Liabilities | 27 |  |  | 593 |  |  | 1,581 |  |  | — |  |  | 2,201 |
Shareholders’ Equity | 5,378 |  |  | 711 |  |  | 7,470 |  |  | (8,181 | ) |  | 5,378 |
Total Liabilities and Shareholders’ Equity | $ | 6,662 |  |  | $ | 14,424 |  |  | $ | 12,794 |  |  | $ | (12,419 | ) |  | $ | 21,461 |
Condensed Consolidating Statement of Comprehensive Income | MACY’S, INC. Condensed Consolidating Statement of Comprehensive Income For 2013 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | 13,233 |  |  | $ | 23,417 |  |  | $ | (8,719 | ) |  | $ | 27,931 |
Cost of sales | — |  |  | (8,168 | ) |  | (17,276 | ) |  | 8,719 |  |  | (16,725 | )
Gross margin | — |  |  | 5,065 |  |  | 6,141 |  |  | — |  |  | 11,206 |
Selling, general and administrative expenses | (8 | ) |  | (4,443 | ) |  | (3,989 | ) |  | — |  |  | (8,440 | )
Impairments, store closing and other costs | — |  |  | (37 | ) |  | (51 | ) |  | — |  |  | (88 | )
Operating income (loss) | (8 | ) |  | 585 |  |  | 2,101 |  |  | — |  |  | 2,678 |
Interest (expense) income, net: |  |  |  |  |  |  |  |  |
External | 1 |  |  | (388 | ) |  | (1 | ) |  | — |  |  | (388 | )
Intercompany | (2 | ) |  | (176 | ) |  | 178 |  |  | — |  |  | — |
Equity in earnings of subsidiaries | 1,492 |  |  | 557 |  |  | — |  |  | (2,049 | ) |  | — |
Income before income taxes | 1,483 |  |  | 578 |  |  | 2,278 |  |  | (2,049 | ) |  | 2,290 |
Federal, state and local income tax benefit (expense) | 3 |  |  | 33 |  |  | (840 | ) |  | — |  |  | (804 | )
Net income | $ | 1,486 |  |  | $ | 611 |  |  | $ | 1,438 |  |  | $ | (2,049 | ) |  | $ | 1,486 |
Comprehensive income | $ | 1,752 |  |  | $ | 877 |  |  | $ | 1,434 |  |  | $ | (2,311 | ) |  | $ | 1,752 |
MACY’S, INC. Condensed Consolidating Statement of Comprehensive Income For 2012 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | 13,594 |  |  | $ | 22,439 |  |  | $ | (8,347 | ) |  | $ | 27,686 |
Cost of sales | — |  |  | (8,385 | ) |  | (16,500 | ) |  | 8,347 |  |  | (16,538 | )
Gross margin | — |  |  | 5,209 |  |  | 5,939 |  |  | — |  |  | 11,148 |
Selling, general and administrative expenses | (9 | ) |  | (4,584 | ) |  | (3,889 | ) |  | — |  |  | (8,482 | )
Impairments, store closing and other costs | — |  |  | (8 | ) |  | 3 |  |  | — |  |  | (5 | )
Operating income (loss) | (9 | ) |  | 617 |  |  | 2,053 |  |  | — |  |  | 2,661 |
Interest (expense) income, net: |  |  |  |  |  |  |  |  |
External | 1 |  |  | (422 | ) |  | (1 | ) |  | — |  |  | (422 | )
Intercompany | (2 | ) |  | (146 | ) |  | 148 |  |  | — |  |  | — |
Premium on early retirement of debt | — |  |  | (137 | ) |  | — |  |  | — |  |  | (137 | )
Equity in earnings of subsidiaries | 1,342 |  |  | 638 |  |  | — |  |  | (1,980 | ) |  | — |
Income before income taxes | 1,332 |  |  | 550 |  |  | 2,200 |  |  | (1,980 | ) |  | 2,102 |
Federal, state and local income tax benefit (expense) | 3 |  |  | 24 |  |  | (794 | ) |  | — |  |  | (767 | )
Net income | $ | 1,335 |  |  | $ | 574 |  |  | $ | 1,406 |  |  | $ | (1,980 | ) |  | $ | 1,335 |
Comprehensive income | $ | 1,465 |  |  | $ | 704 |  |  | $ | 1,477 |  |  | $ | (2,181 | ) |  | $ | 1,465 |
MACY’S, INC. Condensed Consolidating Statement of Comprehensive Income For 2014 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | 13,078 |  |  | $ | 23,522 |  |  | $ | (8,495 | ) |  | $ | 28,105 |
Cost of sales | — |  |  | (8,127 | ) |  | (17,231 | ) |  | 8,495 |  |  | (16,863 | )
Gross margin | — |  |  | 4,951 |  |  | 6,291 |  |  | — |  |  | 11,242 |
Selling, general and administrative expenses | (3 | ) |  | (4,351 | ) |  | (4,001 | ) |  | — |  |  | (8,355 | )
Impairments, store closing and other costs | — |  |  | (45 | ) |  | (42 | ) |  | — |  |  | (87 | )
Operating income (loss) | (3 | ) |  | 555 |  |  | 2,248 |  |  | — |  |  | 2,800 |
Interest (expense) income, net: |  |  |  |  |  |  |  |  |
External | 1 |  |  | (394 | ) |  | — |  |  | — |  |  | (393 | )
Intercompany | — |  |  | (230 | ) |  | 230 |  |  | — |  |  | — |
Premium on early retirement of debt | — |  |  | (17 | ) |  | — |  |  | — |  |  | (17 | )
Equity in earnings of subsidiaries | 1,528 |  |  | 624 |  |  | — |  |  | (2,152 | ) |  | — |
Income before income taxes | 1,526 |  |  | 538 |  |  | 2,478 |  |  | (2,152 | ) |  | 2,390 |
Federal, state and local income tax benefit (expense) | — |  |  | 25 |  |  | (889 | ) |  | — |  |  | (864 | )
Net income | $ | 1,526 |  |  | $ | 563 |  |  | $ | 1,589 |  |  | $ | (2,152 | ) |  | $ | 1,526 |
Comprehensive income | $ | 1,119 |  |  | $ | 156 |  |  | $ | 1,338 |  |  | $ | (1,494 | ) |  | $ | 1,119 |
Condensed Consolidating Statement of Cash Flows | MACY’S, INC. Condensed Consolidating Statement of Cash Flows For 2012 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income | $ | 1,335 |  |  | $ | 574 |  |  | $ | 1,406 |  |  | $ | (1,980 | ) |  | $ | 1,335 |
Impairments, store closing and other costs | — |  |  | 8 |  |  | (3 | ) |  | — |  |  | 5 |
Equity in earnings of subsidiaries | (1,342 | ) |  | (638 | ) |  | — |  |  | 1,980 |  |  | — |
Dividends received from subsidiaries | 783 |  |  | 125 |  |  | — |  |  | (908 | ) |  | — |
Depreciation and amortization | — |  |  | 484 |  |  | 565 |  |  | — |  |  | 1,049 |
Increase in working capital | (76 | ) |  | (75 | ) |  | (66 | ) |  | — |  |  | (217 | )
Other, net | 31 |  |  | (31 | ) |  | 7 |  |  | — |  |  | 7 |
Net cash provided by operating activities | 731 |  |  | 447 |  |  | 1,909 |  |  | (908 | ) |  | 2,179 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of property and equipment and capitalized software, net | — |  |  | (324 | ) |  | (552 | ) |  | — |  |  | (876 | )
Other, net | — |  |  | 51 |  |  | 44 |  |  | — |  |  | 95 |
Net cash used by investing activities | — |  |  | (273 | ) |  | (508 | ) |  | — |  |  | (781 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Debt repaid, net of debt issued | — |  |  | (799 | ) |  | (4 | ) |  | — |  |  | (803 | )
Dividends paid | (324 | ) |  | — |  |  | (908 | ) |  | 908 |  |  | (324 | )
Common stock acquired, net of issuance of common stock | (1,163 | ) |  | — |  |  | — |  |  | — |  |  | (1,163 | )
Intercompany activity, net | (194 | ) |  | 642 |  |  | (448 | ) |  | — |  |  | — |
Other, net | (45 | ) |  | (14 | ) |  | (40 | ) |  | — |  |  | (99 | )
Net cash used by financing activities | (1,726 | ) |  | (171 | ) |  | (1,400 | ) |  | 908 |  |  | (2,389 | )
Net increase (decrease) in cash and cash equivalents | (995 | ) |  | 3 |  |  | 1 |  |  | — |  |  | (991 | )
Cash and cash equivalents at beginning of period | 2,533 |  |  | 38 |  |  | 256 |  |  | — |  |  | 2,827 |
Cash and cash equivalents at end of period | $ | 1,538 |  |  | $ | 41 |  |  | $ | 257 |  |  | $ | — |  |  | $ | 1,836 |
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 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 issued, net of debt repaid | — |  |  | 177 |  |  | (3 | ) |  | — |  |  | 174 |
Dividends paid | (421 | ) |  | — |  |  | (1,089 | ) |  | 1,089 |  |  | (421 | )
Common stock acquired, net of issuance of common stock | (1,643 | ) |  | — |  |  | — |  |  | — |  |  | (1,643 | )
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 2013 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net income | $ | 1,486 |  |  | $ | 611 |  |  | $ | 1,438 |  |  | $ | (2,049 | ) |  | $ | 1,486 |
Impairments, store closing and other costs | — |  |  | 37 |  |  | 51 |  |  | — |  |  | 88 |
Equity in earnings of subsidiaries | (1,492 | ) |  | (557 | ) |  | — |  |  | 2,049 |  |  | — |
Dividends received from subsidiaries | 911 |  |  | 4 |  |  | — |  |  | (915 | ) |  | — |
Depreciation and amortization | — |  |  | 467 |  |  | 553 |  |  | — |  |  | 1,020 |
(Increase) decrease in working capital | (54 | ) |  | 12 |  |  | (111 | ) |  | — |  |  | (153 | )
Other, net | (25 | ) |  | 158 |  |  | (25 | ) |  | — |  |  | 108 |
Net cash provided by operating activities | 826 |  |  | 732 |  |  | 1,906 |  |  | (915 | ) |  | 2,549 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchase of property and equipment and capitalized software, net | — |  |  | (289 | ) |  | (442 | ) |  | — |  |  | (731 | )
Other, net | — |  |  | (6 | ) |  | (51 | ) |  | — |  |  | (57 | )
Net cash used by investing activities | — |  |  | (295 | ) |  | (493 | ) |  | — |  |  | (788 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Debt issued, net of debt repaid | — |  |  | 278 |  |  | (2 | ) |  | — |  |  | 276 |
Dividends paid | (359 | ) |  | — |  |  | (915 | ) |  | 915 |  |  | (359 | )
Common stock acquired, net of issuance of common stock | (1,256 | ) |  | — |  |  | — |  |  | — |  |  | (1,256 | )
Intercompany activity, net | 1,310 |  |  | (728 | ) |  | (582 | ) |  | — |  |  | — |
Other, net | (104 | ) |  | 56 |  |  | 63 |  |  | — |  |  | 15 |
Net cash used by financing activities | (409 | ) |  | (394 | ) |  | (1,436 | ) |  | 915 |  |  | (1,324 | )
Net increase (decrease) in cash and cash equivalents | 417 |  |  | 43 |  |  | (23 | ) |  | — |  |  | 437 |
Cash and cash equivalents at beginning of period | 1,538 |  |  | 41 |  |  | 257 |  |  | — |  |  | 1,836 |
Cash and cash equivalents at end of period | $ | 1,955 |  |  | $ | 84 |  |  | $ | 234 |  |  | $ | — |  |  | $ | 2,273 |

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