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Condensed Consolidating Financial Information | 12 Months Ended
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Jan. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information Certain debt obligations of the Company described in Note 6, which constitute debt obligations of Parent’s 100%-owned subsidiary, Macy’s Retail Holdings, Inc. (“Subsidiary Issuer”) are fully and unconditionally guaranteed by Parent. In the following condensed consolidating financial statements, “Other Subsidiaries” includes all other direct subsidiaries of Parent, including Bluemercury, Inc., FDS Bank, West 34th Street Insurance Company and its subsidiary West 34th Street Insurance Company New York, Macy's Merchandising Corporation, Macy’s Merchandising Group, Inc. and its subsidiaries Macy's Merchandising Group (Hong Kong) Limited, Macy's Merchandising Group Procurement, LLC, Macy’s Merchandising Group International, LLC, Macy's Merchandising Group International (Hong Kong) Limited, and its majority-owned subsidiary Macy's China Limited. “Subsidiary Issuer” includes operating divisions and non-guarantor subsidiaries of the Subsidiary Issuer on an equity basis. The assets and liabilities and results of operations of the non-guarantor subsidiaries of the Subsidiary Issuer are also reflected in “Other Subsidiaries.” Condensed Consolidating Balance Sheets as of January 30, 2016 and January 31, 2015, the related Condensed Consolidating Statements of Comprehensive Income for 2015, 2014 and 2013, and the related Condensed Consolidating Statements of Cash Flows for 2015, 2014, and 2013 are presented on the following pages. MACY’S, INC. Condensed Consolidating Balance Sheet As of January 30, 2016 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS: |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 741 |  |  | $ | 91 |  |  | $ | 277 |  |  | $ | — |  |  | $ | 1,109 |
Receivables | — |  |  | 217 |  |  | 341 |  |  | — |  |  | 558 |
Merchandise inventories | — |  |  | 2,702 |  |  | 2,804 |  |  | — |  |  | 5,506 |
Prepaid expenses and other current assets | — |  |  | 135 |  |  | 344 |  |  | — |  |  | 479 |
Income taxes | 44 |  |  | — |  |  | — |  |  | (44 | ) |  | — |
Total Current Assets | 785 |  |  | 3,145 |  |  | 3,766 |  |  | (44 | ) |  | 7,652 |
Property and Equipment – net | — |  |  | 3,925 |  |  | 3,691 |  |  | — |  |  | 7,616 |
Goodwill | — |  |  | 3,315 |  |  | 582 |  |  | — |  |  | 3,897 |
Other Intangible Assets – net | — |  |  | 52 |  |  | 462 |  |  | — |  |  | 514 |
Other Assets | — |  |  | 154 |  |  | 743 |  |  | — |  |  | 897 |
Deferred Income Taxes | 14 |  |  | — |  |  | — |  |  | (14 | ) |  | — |
Intercompany Receivable | — |  |  | — |  |  | 3,800 |  |  | (3,800 | ) |  | — |
Investment in Subsidiaries | 4,725 |  |  | 3,804 |  |  | — |  |  | (8,529 | ) |  | — |
Total Assets | $ | 5,524 |  |  | $ | 14,395 |  |  | $ | 13,044 |  |  | $ | (12,387 | ) |  | $ | 20,576 |
LIABILITIES AND SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 641 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 642 |
Merchandise accounts payable | — |  |  | 667 |  |  | 859 |  |  | — |  |  | 1,526 |
Accounts payable and accrued liabilities | 35 |  |  | 1,439 |  |  | 1,859 |  |  | — |  |  | 3,333 |
Income taxes | — |  |  | 41 |  |  | 230 |  |  | (44 | ) |  | 227 |
Total Current Liabilities | 35 |  |  | 2,788 |  |  | 2,949 |  |  | (44 | ) |  | 5,728 |
Long-Term Debt | — |  |  | 6,976 |  |  | 19 |  |  | — |  |  | 6,995 |
Intercompany Payable | 1,218 |  |  | 2,582 |  |  | — |  |  | (3,800 | ) |  | — |
Deferred Income Taxes | — |  |  | 693 |  |  | 798 |  |  | (14 | ) |  | 1,477 |
Other Liabilities | 21 |  |  | 558 |  |  | 1,544 |  |  | — |  |  | 2,123 |
Shareholders’ Equity: |  |  |  |  |  |  |  |  |  |
Macy's, Inc. | 4,250 |  |  | 798 |  |  | 7,731 |  |  | (8,529 | ) |  | 4,250 |
Noncontrolling Interest | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total Shareholders’ Equity | 4,250 |  |  | 798 |  |  | 7,734 |  |  | (8,529 | ) |  | 4,253 |
Total Liabilities and Shareholders’ Equity | $ | 5,524 |  |  | $ | 14,395 |  |  | $ | 13,044 |  |  | $ | (12,387 | ) |  | $ | 20,576 |
MACY’S, INC. Condensed Consolidating Statement of Comprehensive Income For 2015 (millions)
| Parent |  | Subsidiary Issuer |  | Other Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | 11,959 |  |  | $ | 24,037 |  |  | $ | (8,917 | ) |  | $ | 27,079 |
Cost of sales | — |  |  | (7,670 | ) |  | (17,743 | ) |  | 8,917 |  |  | (16,496 | )
Gross margin | — |  |  | 4,289 |  |  | 6,294 |  |  | — |  |  | 10,583 |
Selling, general and administrative expenses | (2 | ) |  | (3,980 | ) |  | (4,274 | ) |  | — |  |  | (8,256 | )
Impairments, store closing and other costs | — |  |  | (170 | ) |  | (118 | ) |  | — |  |  | (288 | )
Operating income (loss) | (2 | ) |  | 139 |  |  | 1,902 |  |  | — |  |  | 2,039 |
Interest (expense) income, net: |  |  |  |  |  |  |  |  |
External | 1 |  |  | (361 | ) |  | (1 | ) |  | — |  |  | (361 | )
Intercompany | — |  |  | (230 | ) |  | 230 |  |  | — |  |  | — |
Equity in earnings of subsidiaries | 1,072 |  |  | 421 |  |  | — |  |  | (1,493 | ) |  | — |
Income before income taxes | 1,071 |  |  | (31 | ) |  | 2,131 |  |  | (1,493 | ) |  | 1,678 |
Federal, state and local income tax benefit (expense) | 1 |  |  | 120 |  |  | (729 | ) |  | — |  |  | (608 | )
Net income | 1,072 |  |  | 89 |  |  | 1,402 |  |  | (1,493 | ) |  | 1,070 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Net income attributable to Macy's, Inc. shareholders | $ | 1,072 |  |  | $ | 89 |  |  | $ | 1,404 |  |  | $ | (1,493 | ) |  | $ | 1,072 |
Comprehensive income | $ | 1,101 |  |  | $ | 118 |  |  | $ | 1,415 |  |  | $ | (1,535 | ) |  | $ | 1,099 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Comprehensive income attributable to Macy's, Inc. shareholders | $ | 1,101 |  |  | $ | 118 |  |  | $ | 1,417 |  |  | $ | (1,535 | ) |  | $ | 1,101 |
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 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 | — |  |  | 2,762 |  |  | 2,655 |  |  | — |  |  | 5,417 |
Prepaid expenses and other current assets | — |  |  | 113 |  |  | 380 |  |  | — |  |  | 493 |
Income taxes | 88 |  |  | — |  |  | — |  |  | (88 | ) |  | — |
Total Current Assets | 1,996 |  |  | 3,066 |  |  | 3,606 |  |  | (88 | ) |  | 8,580 |
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 |  |  | 42 |  |  | 668 |  |  | — |  |  | 711 |
Deferred Income Taxes | 10 |  |  | — |  |  | — |  |  | (10 | ) |  | — |
Intercompany Receivable | — |  |  | — |  |  | 4,140 |  |  | (4,140 | ) |  | — |
Investment in Subsidiaries | 4,655 |  |  | 3,526 |  |  | — |  |  | (8,181 | ) |  | — |
Total Assets | $ | 6,662 |  |  | $ | 14,337 |  |  | $ | 12,750 |  |  | $ | (12,419 | ) |  | $ | 21,330 |
LIABILITIES AND SHAREHOLDERS’ EQUITY: |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | 75 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 76 |
Merchandise accounts payable | — |  |  | 729 |  |  | 865 |  |  | — |  |  | 1,594 |
Accounts payable and accrued liabilities | 42 |  |  | 1,360 |  |  | 1,707 |  |  | — |  |  | 3,109 |
Income taxes | — |  |  | 22 |  |  | 362 |  |  | (88 | ) |  | 296 |
Total Current Liabilities | 42 |  |  | 2,186 |  |  | 2,935 |  |  | (88 | ) |  | 5,075 |
Long-Term Debt | — |  |  | 7,213 |  |  | 20 |  |  | — |  |  | 7,233 |
Intercompany Payable | 1,215 |  |  | 2,925 |  |  | — |  |  | (4,140 | ) |  | — |
Deferred Income Taxes | — |  |  | 709 |  |  | 744 |  |  | (10 | ) |  | 1,443 |
Other Liabilities | 27 |  |  | 593 |  |  | 1,581 |  |  | — |  |  | 2,201 |
Shareholders’ Equity: |  |  |  |  |  |  |  |  |
Macy's, Inc. | 5,378 |  |  | 711 |  |  | 7,470 |  |  | (8,181 | ) |  | 5,378 |
Noncontrolling Interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Shareholders’ Equity | 5,378 |  |  | 711 |  |  | 7,470 |  |  | (8,181 | ) |  | 5,378 |
Total Liabilities and Shareholders’ Equity | $ | 6,662 |  |  | $ | 14,337 |  |  | $ | 12,750 |  |  | $ | (12,419 | ) |  | $ | 21,330 |
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 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income attributable to Macy's, Inc. shareholders | $ | 1,526 |  |  | $ | 563 |  |  | $ | 1,589 |  |  | $ | (2,152 | ) |  | $ | 1,526 |
Comprehensive income | $ | 1,119 |  |  | $ | 156 |  |  | $ | 1,338 |  |  | $ | (1,494 | ) |  | $ | 1,119 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income attributable to Macy's, Inc. shareholders | $ | 1,119 |  |  | $ | 156 |  |  | $ | 1,338 |  |  | $ | (1,494 | ) |  | $ | 1,119 |
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 | )
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 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 |
Net loss attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income attributable to Macy's, Inc. shareholders | $ | 1,486 |  |  | $ | 611 |  |  | $ | 1,438 |  |  | $ | (2,049 | ) |  | $ | 1,486 |
Comprehensive income | $ | 1,752 |  |  | $ | 877 |  |  | $ | 1,434 |  |  | $ | (2,311 | ) |  | $ | 1,752 |
Comprehensive loss attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income attributable to Macy's, Inc. shareholders | $ | 1,752 |  |  | $ | 877 |  |  | $ | 1,434 |  |  | $ | (2,311 | ) |  | $ | 1,752 |
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 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 repaid, net of debt issued | — |  |  | 278 |  |  | (2 | ) |  | — |  |  | 276 |
Dividends paid | (359 | ) |  | — |  |  | (915 | ) |  | 915 |  |  | (359 | )
Common stock acquired, net of issuance of common stock | (1,256 | ) |  | — |  |  | — |  |  | — |  |  | (1,256 | )
Proceeds from noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
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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