Financial Information For The Company And Its Subsidiaries (Tables)

6 Months Ended

Aug. 03, 2013

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF AUGUST 3, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	32,793	$	20,344	$	–	$	53,137
Receivables, net		86,129		2,014		31,911		–		120,054
Inventories, net		128,503		477,659		9,754		–		615,916
Prepaid expenses and other current assets		54,017		(860)		(1,312)		–		51,845
Current assets – discontinued operations		1,638		–		23		–		1,661
Total current assets		270,287		511,606		60,720		–		842,613
Other assets		97,053		16,110		601		–		113,764
Goodwill and intangible assets, net		57,514		19,174		–		–		76,688
Property and equipment, net		26,637		118,878		2,440		–		147,955
Investment in subsidiaries		839,981		31,336		–		(871,317)		–
Total assets	$	1,291,472	$	697,104	$	63,761	$	(871,317)	$	1,181,020
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	23,000	$	–	$	–	$	–	$	23,000
Trade accounts payable		77,854		193,996		37,956		–		309,806
Other accrued expenses		65,241		73,883		4,611		–		143,735
Current liabilities – discontinued operations		3,488		–		48		–		3,536
Total current liabilities		169,583		267,879		42,615		–		480,077
Other liabilities
Long-term debt		198,917		–		–		–		198,917
Other liabilities		24,049		50,559		1,017		–		75,625
Intercompany payable (receivable)		473,205		(461,315)		(11,890)		–		–
Total other liabilities		696,171		(410,756)		(10,873)		–		274,542
Equity
Brown Shoe Company, Inc. shareholders’ equity		425,718		839,981		31,336		(871,317)		425,718
Noncontrolling interests		–		–		683		–		683
Total equity		425,718		839,981		32,019		(871,317)		426,401
Total liabilities and equity	$	1,291,472	$	697,104	$	63,761	$	(871,317)	$	1,181,020

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF FEBRUARY 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	32,060	$	36,163	$	–	$	68,223
Receivables, net		67,571		6,593		37,228		–		111,392
Inventories, net		92,683		394,468		16,537		–		503,688
Prepaid expenses and other current assets		14,523		26,524		969		–		42,016
Current assets – discontinued operations		5,447		41,553		109		–		47,109
Total current assets		180,224		501,198		91,006		–		772,428
Other assets		99,527		19,320		848		–		119,695
Goodwill and intangible assets, net		37,270		19,901		22,532		–		79,703
Non current assets – discontinued operations		–		1,652		52,925		–		54,577
Property and equipment, net		27,931		108,224		8,701		–		144,856
Investment in subsidiaries		765,729		91,136		113,033		(969,898)		–
Total assets	$	1,110,681	$	741,431	$	289,045	$	(969,898)	$	1,171,259
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	105,000	$	–	$	–	$	–	$	105,000
Trade accounts payable		53,350		118,096		42,214		–		213,660
Other accrued expenses		51,751		78,293		7,146		–		137,190
Current liabilities – discontinued operations		3,754		9,396		109		–		13,259
Total current liabilities		213,855		205,785		49,469		–		469,109
Other liabilities
Long-term debt		198,823		–		–		–		198,823
Other liabilities		17,042		48,986		4,402		–		70,430
Non current liabilities – discontinued operations		(1,145)		(2,328)		10,469		–		6,996
Intercompany payable (receivable)		256,977		(389,774)		132,797		–		–
Total other liabilities		471,697		(343,116)		147,668		–		276,249
Equity
Brown Shoe Company, Inc. shareholders’ equity		425,129		878,762		91,136		(969,898)		425,129
Noncontrolling interests		–		–		772		–		772
Total equity		425,129		878,762		91,908		(969,898)		425,901
Total liabilities and equity	$	1,110,681	$	741,431	$	289,045	$	(969,898)	$	1,171,259

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JULY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	30,760	$	16,637	$	–	$	47,397
Receivables, net		77,006		7,156		23,372		–		107,534
Inventories, net		109,014		461,135		15,820		–		585,969
Prepaid expenses and other current assets		40,646		1,224		2,555		–		44,425
Current assets – discontinued operations		21,182		45,425		48		–		66,655
Total current assets		247,848		545,700		58,432		–		851,980
Other assets		116,254		18,688		848		–		135,790
Goodwill and intangible assets, net		39,402		15,600		22,727		–		77,729
Non current assets – discontinued operations		–		1,810		53,345		–		55,155
Property and equipment, net		23,470		101,042		9,008		–		133,520
Investment in subsidiaries		829,881		70,656		–		(900,537)		–
Total assets	$	1,256,855	$	753,496	$	144,360	$	(900,537)	$	1,254,174
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	116,000	$	–	$	–	$	–	$	116,000
Trade accounts payable		71,212		179,634		33,344		–		284,190
Other accrued expenses		59,806		73,339		9,070		–		142,215
Current liabilities – discontinued operations		10,288		6,348		52		–		16,688
Total current liabilities		257,306		259,321		42,466		–		559,093
Other liabilities
Long-term debt		198,726		–		–		–		198,726
Other liabilities		32,563		43,742		3,739		–		80,044
Intercompany payable (receivable)		362,584		(379,128)		16,544		–		–
Non current liabilities – discontinued operations		(1,225)		(320)		10,158		–		8,613
Total other liabilities		592,648		(335,706)		30,441		–		287,383
Equity
Brown Shoe Company, Inc. shareholders’ equity		406,901		829,881		70,656		(900,537)		406,901
Noncontrolling interests		–		–		797		–		797
Total equity		406,901		829,881		71,453		(900,537)		407,698
Total liabilities and equity	$	1,256,855	$	753,496	$	144,360	$	(900,537)	$	1,254,174

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED AUGUST 3, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	180,153	$	444,821	$	57,468	$	(60,736)	$	621,706
Cost of goods sold		138,906		241,656		47,254		(60,736)		367,080
Gross profit		41,247		203,165		10,214		–		254,626
Selling and administrative expenses		65,770		165,689		(388)		–		231,071
Restructuring and other special charges, net		167		576		–		–		743
Equity in (earnings) loss of subsidiaries		(36,429)		(12,043)		–		48,472		–
Operating earnings (loss)		11,739		48,943		10,602		(48,472)		22,812
Interest expense		(5,192)		–		–		–		(5,192)
Interest income		10		68		4		–		82
Intercompany interest income (expense)		3,475		(3,607)		132		–		–
Earnings (loss) before income taxes from continuing operations		10,032		45,404		10,738		(48,472)		17,702
Income tax benefit (provision)		4,259		(9,607)		1,267		–		(4,081)
Net earnings (loss) from continuing operations		14,291		35,797		12,005		(48,472)		13,621
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax		1,066		(410)		(36)		–		620
Impairment of net assets/disposition of discontinued operations		–		1,042		–		–		1,042
Net Earnings (loss) from discontinued operations		1,066		632		(36)		–		1,662
Net earnings (loss)		15,357		36,429		11,969		(48,472)		15,283
Net loss attributable to noncontrolling interests		–		–		(74)		–		(74)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	15,357	$	36,429	$	12,043	$	(48,472)	$	15,357
Comprehensive income (loss)	$	15,105	$	35,969	$	11,969	$	(48,012)	$	15,031
Comprehensive loss attributable to noncontrolling interests		–		–		(61)		–		(61)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	15,105	$	35,969	$	12,030	$	(48,012)	$	15,092

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 3, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	338,934	$	863,359	$	100,072	$	(92,003)	$	1,210,362
Cost of goods sold		255,236		471,612		80,875		(92,003)		715,720
Gross profit		83,698		391,747		19,197		–		494,642
Selling and administrative expenses		115,770		325,541		3,639		–		444,950
Restructuring and other special charges, net		686		576		–		–		1,262
Impairment of assets held for sale		–		–		4,660		–		4,660
Equity in (earnings) loss of subsidiaries		(39,474)		1,061		–		38,413		–
Operating earnings (loss)		6,716		64,569		10,898		(38,413)		43,770
Interest expense		(10,822)		(91)		–		–		(10,913)
Interest income		13		132		5		–		150
Intercompany interest income (expense)		6,929		(7,186)		257		–		–
Earnings (loss) before income taxes from continuing operations		2,836		57,424		11,160		(38,413)		33,007
Income tax benefit (provision)		7,641		(20,173)		505		–		(12,027)
Net earnings (loss) from continuing operations		10,477		37,251		11,665		(38,413)		20,980
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax		(5,882)		1,181		(316)		–		(5,017)
Impairment of net assets/disposition of discontinued operations		–		1,042		(12,554)		–		(11,512)
Net (loss) earnings from discontinued operations		(5,882)		2,223		(12,870)		–		(16,529)
Net earnings (loss)	$	4,595	$	39,474	$	(1,205)	$	(38,413)	$	4,451
Net loss attributable to noncontrolling interests		–		–		(144)		–		(144)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	4,595	$	39,474	$	(1,061)	$	(38,413)	$	4,595
Comprehensive income (loss)	$	3,684	$	38,457	$	(1,205)	$	(37,396)	$	3,540
Comprehensive loss attributable to noncontrolling interests		–		–		(89)		–		(89)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	3,684	$	38,457	$	(1,116)	$	(37,396)	$	3,629

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED JULY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	154,463	$	416,187	$	47,146	$	(52,899)	$	564,897
Cost of goods sold		121,376		230,633		38,133		(52,899)		337,243
Gross profit		33,087		185,554		9,013		–		227,654
Selling and administrative expenses		43,749		166,521		1,436		–		211,706
Restructuring and other special charges, net		4,612		2,714		–		–		7,326
Equity in (earnings) loss of subsidiaries		(13,900)		(6,601)		–		20,501		–
Operating (loss) earnings		(1,374)		22,920		7,577		(20,501)		8,622
Interest expense		(5,559)		(86)		–		–		(5,645)
Interest income		–		63		14		–		77
Intercompany interest income (expense)		3,120		(3,227)		107		–		–
(Loss) earnings before income taxes from continuing operations		(3,813)		19,670		7,698		(20,501)		3,054
Income tax benefit (provision)		4,701		(5,183)		(759)		–		(1,241)
Net earnings (loss) from continuing operations		888		14,487		6,939		(20,501)		1,813
Discontinued operations:
Loss from discontinued operations, net of tax		(3,423)		(587)		(517)		–		(4,527)
Net loss from discontinued operations		(3,423)		(587)		(517)		–		(4,527)
Net (loss) earnings		(2,535)		13,900		6,422		(20,501)		(2,714)
Net loss attributable to noncontrolling interests		–		–		(179)		–		(179)
Net (loss) earnings attributable to Brown Shoe Company, Inc.	$	(2,535)	$	13,900	$	6,601	$	(20,501)	$	(2,535)
Comprehensive (loss) income	$	(3,083)	$	12,969	$	6,427	$	(20,501)	$	(4,188)
Comprehensive loss attributable to noncontrolling interests		–		–		(185)		–		(185)
Comprehensive (loss) income attributable to Brown Shoe Company, Inc.	$	(3,083)	$	12,969	$	6,612	$	(20,501)	$	(4,003)

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE TWENTY-SIX WEEKS ENDED JULY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	336,307	$	834,596	$	90,968	$	(98,795)	$	1,163,076
Cost of goods sold		259,440		464,609		75,914		(98,795)		701,168
Gross profit		76,867		369,987		15,054		–		461,908
Selling and administrative expenses		82,959		329,553		10,669		–		423,181
Restructuring and other special charges, net		8,274		9,240		–		–		17,514
Equity in (earnings) loss of subsidiaries		(15,169)		(2,842)		–		18,011		–
Operating earnings (loss)		803		34,036		4,385		(18,011)		21,213
Interest expense		(11,499)		(182)		–		–		(11,681)
Interest income		–		124		36		–		160
Intercompany interest income (expense)		6,529		(6,742)		213		–		–
(Loss) earnings before income taxes from continuing operations		(4,167)		27,236		4,634		(18,011)		9,692
Income tax benefit (provision)		7,207		(9,901)		(1,163)		–		(3,857)
Net earnings (loss) from continuing operations		3,040		17,335		3,471		(18,011)		5,835
Discontinued operations:
Loss from discontinued operations, net of tax		(3,880)		(2,166)		(875)		–		(6,921)
Net loss from discontinued operations		(3,880)		(2,166)		(875)		–		(6,921)
Net (loss) earnings		(840)		15,169		2,596		(18,011)		(1,086)
Net loss attributable to noncontrolling interests		–		–		(246)		–		(246)
Net (loss) earnings attributable to Brown Shoe Company, Inc.	$	(840)	$	15,169	$	2,842	$	(18,011)	$	(840)
Comprehensive (loss) income	$	(1,420)		14,867		2,600		(18,011)		(1,964)
Comprehensive loss attributable to noncontrolling interests		–		–		(250)		–		(250)
Comprehensive (loss) income attributable to Brown Shoe Company, Inc.	$	(1,420)	$	14,867	$	2,850	$	(18,011)	$	(1,714)

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED AUGUST 3, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by operating activities	$	1,555	$	26,015	$	7,919	$	–	$	35,489
Investing activities
Purchases of property and equipment		(1,656)		(25,612)		(529)		–		(27,797)
Capitalized software		(2,383)		(248)		(7)		–		(2,638)
Proceeds from sale of subsidiaries, net of cash balance		–		69,347		–		–		69,347
Net cash (used for) provided by investing activities		(4,039)		43,487		(536)		–		38,912
Financing activities
Borrowings under revolving credit agreement		685,000		–		–		–		685,000
Repayments under revolving credit agreement		(767,000)		–		–		–		(767,000)
Dividends paid		(6,048)		–		–		–		(6,048)
Issuance of common stock under share-based plans, net		(2,780)		–		–		–		(2,780)
Tax benefit related to share-based plans		2,798		–		–		–		2,798
Intercompany financing		90,514		(67,312)		(23,202)		–		–
Net cash provided by (used for) financing activities		2,484		(67,312)		(23,202)		–		(88,030)
Effect of exchange rate changes on cash and cash equivalents		–		(1,457)		–		–		(1,457)
Increase (decrease) in cash and cash equivalents		–		733		(15,819)		–		(15,086)
Cash and cash equivalents at beginning of period		–		32,060		36,163		–		68,223
Cash and cash equivalents at end of period	$	–	$	32,793	$	20,344	$	–	$	53,137

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE TWENTY-SIX WEEKS ENDED JULY 28, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by operating activities	$	31,083	$	71,866	$	16,411	$	–	$	119,360
Investing activities
Purchases of property and equipment		(1,525)		(21,738)		(883)		–		(24,146)
Capitalized software		(2,953)		–		(3)		–		(2,956)
Net cash used for investing activities		(4,478)		(21,738)		(886)		–		(27,102)
Financing activities
Borrowings under revolving credit agreement		334,000		–		–		–		334,000
Repayments under revolving credit agreement		(419,000)		–		–		–		(419,000)
Dividends paid		(6,005)		–		–		–		(6,005)
Issuance of common stock under share-based plans, net		(2,058)		–		–		–		(2,058)
Tax benefit related to share-based plans		738		–		–		–		738
Intercompany financing		70,106		(53,482)		(16,624)		–		–
Net cash used for financing activities		(22,219)		(53,482)		(16,624)		–		(92,325)
Effect of exchange rate changes on cash and cash equivalents		–		(218)		–		–		(218)
Increase (decrease) in cash and cash equivalents		4,386		(3,572)		(1,099)		–		(285)
Cash and cash equivalents at beginning of period		(4,386)		34,332		17,736		–		47,682
Cash and cash equivalents at end of period	$	–	$	30,760	$	16,637	$	–	$	47,397