Financial Information For The Company And Its Subsidiaries (Tables)

9 Months Ended

Nov. 02, 2013

Financial Information For The Company And Its Subsidiaries [Abstract]

Schedule Of Condensed Consolidating Balance Sheet

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF NOVEMBER 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	29,722	$	12,684	$	–	$	42,406
Receivables, net		93,097		1,275		18,119		–		112,491
Inventories, net		98,548		439,807		6,234		–		544,589
Prepaid expenses and other current assets		37,418		11,423		3,393		–		52,234
Current assets – discontinued operations		158		–		23		–		181
Total current assets		229,221		482,227		40,453		–		751,901
Other assets		95,221		15,812		614		–		111,647
Goodwill and intangible assets, net		56,369		18,812		–		–		75,181
Property and equipment, net		26,908		118,976		2,298		–		148,182
Investment in subsidiaries		851,906		152,992		–		(1,004,898)		–
Intercompany receivable		431,576		483,667		233,844		(1,149,087)		–
Total assets	$	1,691,201	$	1,272,486	$	277,209	$	(2,153,985)	$	1,086,911
Liabilities and Equity
Current liabilities
Trade accounts payable	$	44,889	$	136,669	$	19,148	$	–	$	200,706
Other accrued expenses		58,289		83,483		9,370		–		151,142
Current liabilities – discontinued operations		2,065		–		45		–		2,110
Total current liabilities		105,243		220,152		28,563		–		353,958
Other liabilities
Long-term debt		198,963		–		–		–		198,963
Other liabilities		29,395		51,192		1,444		–		82,031
Intercompany payable		906,299		149,223		93,549		(1,149,071)		–
Total other liabilities		1,134,657		200,415		94,993		(1,149,071)		280,994
Equity
Brown Shoe Company, Inc. shareholders’ equity		451,301		851,906		152,992		(1,004,898)		451,301
Noncontrolling interests		–		–		658		–		658
Total equity		451,301		851,906		153,650		(1,004,898)		451,959
Total liabilities and equity	$	1,691,201	$	1,272,473	$	277,206	$	(2,153,969)	$	1,086,911

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
Noncurrent assets – discontinued operations		1,145		3,980		52,925		(3,473)		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)		–
Intercompany receivable		341,222		527,863		183,374		(1,052,459)		–
Total assets	$	1,453,048	$	1,271,622	$	472,419	$	(2,025,830)	$	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		–		–		10,469		(3,473)		6,996
Intercompany payable		598,198		138,089		316,169		(1,052,456)		–
Total other liabilities		814,063		187,075		331,040		(1,055,929)		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	$	1,453,047	$	1,271,622	$	472,417	$	(2,025,827)	$	1,171,259

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET
AS OF OCTOBER 27, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Assets
Current assets
Cash and cash equivalents	$	–	$	29,113	$	11,771	$	–	$	40,884
Receivables, net		89,342		5,863		18,314		–		113,519
Inventories, net		73,175		421,458		17,573		–		512,206
Prepaid expenses and other current assets		22,219		3,412		4,880		–		30,511
Current assets – discontinued operations		16,868		39,465		32		–		56,365
Total current assets		201,604		499,311		52,570		–		753,485
Other assets		115,445		18,409		810		–		134,664
Goodwill and intangible assets, net		38,337		20,265		22,617		–		81,219
Noncurrent assets – discontinued operations		1,185		1,595		53,159		(1,185)		54,754
Property and equipment, net		24,578		106,269		9,135		–		139,982
Investment in subsidiaries		862,308		234,014		–		(1,096,322)		–
Intercompany receivable		215,585		384,522		174,893		(775,000)		–
Total assets	$	1,459,042	$	1,264,385	$	313,184	$	(1,872,507)	$	1,164,104
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	110,000	$	–	$	–	$	–	$	110,000
Trade accounts payable		32,579		118,756		22,521		–		173,856
Other accrued expenses		41,432		89,006		15,249		–		145,687
Current liabilities – discontinued operations		6,746		7,149		40		–		13,935
Total current liabilities		190,757		214,911		37,810		–		443,478
Other liabilities
Long-term debt		198,773		–		–		–		198,773
Other liabilities		34,398		42,601		5,714		–		82,713
Intercompany payable		603,976		144,566		26,460		(775,002)		–
Noncurrent liabilities – discontinued operations		–		–		8,388		(1,185)		7,203
Total other liabilities		837,147		187,167		40,562		(776,187)		288,689
Equity
Brown Shoe Company, Inc. shareholders’ equity		431,138		862,308		234,014		(1,096,322)		431,138
Noncontrolling interests		–		–		799		–		799
Total equity		431,138		862,308		234,813		(1,096,322)		431,937
Total liabilities and equity	$	1,459,042	$	1,264,386	$	313,185	$	(1,872,509)	$	1,164,104

Schedule Of Condensed Consolidating Statement Of Comprehensive Income

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED NOVEMBER 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	213,028	$	498,383	$	36,753	$	(45,376)	$	702,788
Cost of goods sold		157,500		282,617		29,807		(45,376)		424,548
Gross profit		55,528		215,766		6,946		–		278,240
Selling and administrative expenses		53,327		178,810		1,435		–		233,572
Equity in (earnings) loss of subsidiaries		(31,516)		2,728		–		28,788		–
Operating earnings (loss)		33,717		34,228		5,511		(28,788)		44,668
Interest expense		(5,254)		–		–		–		(5,254)
Interest income		4		69		59		–		132
Intercompany interest income (expense)		3,558		(3,693)		135		–		–
Intercompany dividend		–		7,778		(7,778)		–		–
Earnings (loss) before income taxes from continuing operations		32,025		38,382		(2,073)		(28,788)		39,546
Income tax provision		(5,011)		(6,822)		(662)		–		(12,495)
Net earnings (loss) from continuing operations		27,014		31,560		(2,735)		(28,788)		27,051
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax		300		(44)		(23)		–		233
Net earnings (loss) from discontinued operations		300		(44)		(23)		–		233
Net earnings (loss)		27,314		31,516		(2,758)		(28,788)		27,284
Net loss attributable to noncontrolling interests		–		–		(30)		–		(30)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	27,314	$	31,516	$	(2,728)	$	(28,788)	$	27,314
Comprehensive income (loss)	$	27,320	$	31,314	$	(2,759)	$	(28,585)	$	27,290
Comprehensive loss attributable to noncontrolling interests		–		–		(25)		–		(25)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	27,320	$	31,314	$	(2,734)	$	(28,585)	$	27,315

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	551,962	$	1,361,742	$	136,825	$	(137,379)	$	1,913,150
Cost of goods sold		412,736		754,229		110,682		(137,379)		1,140,268
Gross profit		139,226		607,513		26,143		–		772,882
Selling and administrative expenses		169,037		504,411		5,074		–		678,522
Restructuring and other special charges, net		746		516		–		–		1,262
Impairment of assets held for sale		–		–		4,660		–		4,660
Equity in (earnings) loss of subsidiaries		(70,990)		3,789		–		67,201		–
Operating earnings (loss)		40,433		98,797		16,409		(67,201)		88,438
Interest expense		(16,076)		(91)		–		–		(16,167)
Interest income		17		201		64		–		282
Intercompany interest income (expense)		10,487		(10,879)		392		–		–
Intercompany dividend		–		7,778		(7,778)		–		–
Earnings (loss) before income taxes from continuing operations		34,861		95,806		9,087		(67,201)		72,553
Income tax benefit (provision)		2,630		(26,995)		(157)		–		(24,522)
Net earnings (loss) from continuing operations		37,491		68,811		8,930		(67,201)		48,031
Discontinued operations:
(Loss) earnings from discontinued operations, net of tax		(5,582)		1,137		(339)		–		(4,784)
Impairment of net assets/disposition of discontinued operations		–		1,042		(12,554)		–		(11,512)
Net (loss) earnings from discontinued operations		(5,582)		2,179		(12,893)		–		(16,296)
Net earnings (loss)	$	31,909	$	70,990	$	(3,963)	$	(67,201)	$	31,735
Net loss attributable to noncontrolling interests		–		–		(174)		–		(174)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	31,909	$	70,990	$	(3,789)	$	(67,201)	$	31,909
Comprehensive income (loss)	$	31,005	$	69,771	$	(3,964)	$	(65,982)	$	30,830
Comprehensive loss attributable to noncontrolling interests		–		–		(114)		–		(114)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	31,005	$	69,771	$	(3,850)	$	(65,982)	$	30,944

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTEEN WEEKS ENDED OCTOBER 27, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	192,767	$	512,952	$	42,437	$	(52,171)	$	695,985
Cost of goods sold		144,270		291,940		32,611		(52,171)		416,650
Gross profit		48,497		221,012		9,826		–		279,335
Selling and administrative expenses		55,773		182,963		(2,540)		–		236,196
Restructuring and other special charges, net		1,522		624		–		–		2,146
Equity in (earnings) loss of subsidiaries		(31,323)		(10,031)		–		41,354		–
Operating earnings (loss)		22,525		47,456		12,366		(41,354)		40,993
Interest expense		(5,301)		(97)		–		–		(5,398)
Interest income		–		61		15		–		76
Intercompany interest income (expense)		3,040		(3,147)		107		–		–
Earnings (loss) before income taxes from continuing operations		20,264		44,273		12,488		(41,354)		35,671
Income tax benefit (provision)		3,101		(12,402)		(2,117)		–		(11,418)
Net earnings (loss) from continuing operations		23,365		31,871		10,371		(41,354)		24,253
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax		927		(548)		(345)		–		34
Net earnings (loss) from discontinued operations		927		(548)		(345)		–		34
Net earnings (loss)		24,292		31,323		10,026		(41,354)		24,287
Net loss attributable to noncontrolling interests		–		–		(5)		–		(5)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	24,292	$	31,323	$	10,031	$	(41,354)	$	24,292
Comprehensive income (loss)	$	24,842	$	31,872	$	10,018	$	(41,348)	$	25,384
Comprehensive loss attributable to noncontrolling interests		–		–		2		–		2
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	24,842	$	31,872	$	10,016	$	(41,348)	$	25,382

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net sales	$	529,074	$	1,347,548	$	133,405	$	(150,966)	$	1,859,061
Cost of goods sold		403,710		756,549		108,525		(150,966)		1,117,818
Gross profit		125,364		590,999		24,880		–		741,243
Selling and administrative expenses		138,732		512,516		8,129		–		659,377
Restructuring and other special charges, net		9,796		9,864		–		–		19,660
Impairment of intangible assets		–		–		–		–		–
Equity in (earnings) loss of subsidiaries		(46,492)		(12,873)		–		59,365		–
Operating earnings (loss)		23,328		81,492		16,751		(59,365)		62,206
Interest expense		(16,800)		(279)		–		–		(17,079)
Interest income		–		185		51		–		236
Intercompany interest income (expense)		9,569		(9,889)		320		–		–
Earnings (loss) before income taxes from continuing operations		16,097		71,509		17,122		(59,365)		45,363
Income tax benefit (provision)		10,308		(22,303)		(3,280)		–		(15,275)
Net earnings (loss) from continuing operations		26,405		49,206		13,842		(59,365)		30,088
Discontinued operations:
Loss from discontinued operations, net of tax		(2,953)		(2,714)		(1,220)		–		(6,887)
Net loss from discontinued operations		(2,953)		(2,714)		(1,220)		–		(6,887)
Net earnings (loss)		23,452		46,492		12,622		(59,365)		23,201
Net loss attributable to noncontrolling interests		–		–		(251)		–		(251)
Net earnings (loss) attributable to Brown Shoe Company, Inc.	$	23,452	$	46,492	$	12,873	$	(59,365)	$	23,452
Comprehensive income (loss)	$	23,422		46,954		12,617		(59,573)		23,420
Comprehensive loss attributable to noncontrolling interests		–		–		(248)		–		(248)
Comprehensive income (loss) attributable to Brown Shoe Company, Inc.	$	23,422	$	46,954	$	12,865	$	(59,573)	$	23,668

Schedule Of Condensed Consolidating Statement Of Cash Flows

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTY-NINE WEEKS ENDED NOVEMBER 2, 2013
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by (used for) operating activities	$	27,271	$	60,573	$	(25,859)	$	–	$	61,985
Investing activities
Purchases of property and equipment		(3,389)		(33,737)		(762)		–		(37,888)
Capitalized software		(3,591)		(117)		(7)		–		(3,715)
Intercompany investing		(1,024)		1,024		–		–		–
Proceeds from sale of subsidiaries, net of cash balance		–		69,347		–		–		69,347
Net cash (used for) provided by investing activities		(8,004)		36,517		(769)		–		27,744
Financing activities
Borrowings under revolving credit agreement		966,000		–		–		–		966,000
Repayments under revolving credit agreement		(1,071,000)		–		–		–		(1,071,000)
Dividends paid		(9,073)		–		–		–		(9,073)
Issuance of common stock under share-based plans, net		(2,406)		–		–		–		(2,406)
Tax benefit related to share-based plans		2,581		–		–		–		2,581
Intercompany financing		94,631		(97,780)		3,149		–		–
Net cash (used for) provided by financing activities		(19,267)		(97,780)		3,149		–		(113,898)
Effect of exchange rate changes on cash and cash equivalents		–		(1,648)		–		–		(1,648)
Decrease in cash and cash equivalents		–		(2,338)		(23,479)		–		(25,817)
Cash and cash equivalents at beginning of period		–		32,060		36,163		–		68,223
Cash and cash equivalents at end of period	$	–	$	29,722	$	12,684	$	–	$	42,406

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THIRTY-NINE WEEKS ENDED OCTOBER 27, 2012
						Non-
($ thousands)		Parent		Guarantors		Guarantors		Eliminations		Total
Net cash provided by (used for) operating activities	$	19,306	$	(53,096)	$	177,313	$	–	$	143,523
Investing activities
Purchases of property and equipment		(3,809)		(33,602)		(1,670)		–		(39,081)
Capitalized software		(5,433)		–		(3)		–		(5,436)
Acquisition cost		–		(5,000)		–		–		(5,000)
Net cash used for investing activities		(9,242)		(38,602)		(1,673)		–		(49,517)
Financing activities
Borrowings under revolving credit agreement		582,000		–		–		–		582,000
Repayments under revolving credit agreement		(673,000)		–		–		–		(673,000)
Dividends paid		(9,007)		–		–		–		(9,007)
Issuance of common stock under share-based plans, net		(1,860)		–		–		–		(1,860)
Tax benefit related to share-based plans		889		–		–		–		889
Intercompany financing		95,300		86,305		(181,605)		–		–
Net cash (used for) provided by financing activities		(5,678)		86,305		(181,605)		–		(100,978)
Effect of exchange rate changes on cash and cash equivalents		–		174		–		–		174
Increase (decrease) in cash and cash equivalents		4,386		(5,219)		(5,965)		–		(6,798)
Cash and cash equivalents at beginning of period		(4,386)		34,332		17,736		–		47,682
Cash and cash equivalents at end of period	$	–	$	29,113	$	11,771	$	–	$	40,884