Note 19 - Financial Information for the Company and its Subsidiaries (Tables)

9 Months Ended

Nov. 02, 2019

Notes Tables

Condensed Balance Sheet [Table Text Block]

					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	2,487	$	20,040	$	29,975		$	—		$	52,502
Receivables, net		108,118		30,427		17,708			—			156,253
Inventories, net		133,258		476,687		34,701			—			644,646
Prepaid expenses and other current assets		28,534		14,494		5,217			—			48,245
Intercompany receivable – current		144		96		10,611			(10,851	)		—
Total current assets		272,541		541,744		98,212			(10,851	)		901,646
Other assets		79,868		11,131		1,215			—			92,214
Goodwill and intangible assets, net		107,217		328,562		107,066			—			542,845
Lease right-of-use assets		123,490		548,639		32,115			—			704,244
Property and equipment, net		76,550		143,402		10,309			—			230,261
Investment in subsidiaries		1,560,733		—		(25,950	)		(1,534,783	)		—
Intercompany receivable – noncurrent		602,934		640,835		800,327			(2,044,096	)		—
Total assets	$	2,823,333	$	2,214,313	$	1,023,294		$	(3,589,730	)	$	2,471,210
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	295,000	$	—	$	—		$	—		$	295,000
Trade accounts payable		115,407		128,490		31,802			—			275,699
Lease obligations		11,450		126,438		6,613			—			144,501
Other accrued expenses		65,810		91,013		22,207			—			179,030
Intercompany payable – current		5,343		—		5,508			(10,851	)		—
Total current liabilities		493,010		345,941		66,130			(10,851	)		894,230
Other liabilities
Noncurrent lease obligations		126,347		472,579		30,805			—			629,731
Long-term debt		198,276		—		—			—			198,276
Other liabilities		92,293		2,399		931			—			95,623
Intercompany payable – noncurrent		1,262,567		114,458		667,071			(2,044,096	)		—
Total other liabilities		1,679,483		589,436		698,807			(2,044,096	)		923,630
Equity
Caleres, Inc. shareholders’ equity		650,840		1,278,936		255,847			(1,534,783	)		650,840
Noncontrolling interests		—		—		2,510			—			2,510
Total equity		650,840		1,278,936		258,357			(1,534,783	)		653,350
Total liabilities and equity	$	2,823,333	$	2,214,313	$	1,023,294		$	(3,589,730	)	$	2,471,210

					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	4,012	$	11,817	$	74,662		$	—		$	90,491
Receivables, net		145,363		30,040		16,843			—			192,246
Inventories, net		154,706		513,448		30,111			—			698,265
Prepaid expenses and other current assets		34,621		33,869		6,020			(11,344	)		63,166
Intercompany receivable – current		291		137		8,038			(8,466	)		—
Total current assets		338,993		589,311		135,674			(19,810	)		1,044,168
Other assets		78,640		12,330		1,309			—			92,279
Goodwill and intangible assets, net		109,441		335,419		208,992			—			653,852
Property and equipment, net		43,761		163,019		11,323			—			218,103
Investment in subsidiaries		1,576,825		—		(24,821	)		(1,552,004	)		—
Intercompany receivable – noncurrent		583,048		560,563		745,589			(1,889,200	)		—
Total assets	$	2,730,708	$	1,660,642	$	1,078,066		$	(3,461,014	)	$	2,008,402
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	350,000	$	—	$	—		$	—		$	350,000
Trade accounts payable		141,012		151,127		25,360			—			317,499
Other accrued expenses		85,253		111,490		24,080			(11,344	)		209,479
Intercompany payable – current		3,363		—		5,103			(8,466	)		—
Total current liabilities		579,628		262,617		54,543			(19,810	)		876,978
Other liabilities
Long-term debt		197,817		—		—			—			197,817
Other liabilities		119,291		42,185		5,046			—			166,522
Intercompany payable – noncurrent		1,068,219		95,440		725,541			(1,889,200	)		—
Total other liabilities		1,385,327		137,625		730,587			(1,889,200	)		364,339
Equity
Caleres, Inc. shareholders’ equity		765,753		1,260,400		291,604			(1,552,004	)		765,753
Noncontrolling interests		—		—		1,332			—			1,332
Total equity		765,753		1,260,400		292,936			(1,552,004	)		767,085
Total liabilities and equity	$	2,730,708	$	1,660,642	$	1,078,066		$	(3,461,014	)	$	2,008,402

					Non-
($ thousands)	Parent		Guarantors		Guarantors			Eliminations			Total
Assets
Current assets
Cash and cash equivalents	$	2	$	9,148	$	21,050		$	—		$	30,200
Receivables, net		130,684		32,319		28,719			—			191,722
Inventories, net		175,697		470,610		36,864			—			683,171
Prepaid expenses and other current assets		31,195		32,556		7,603			—			71,354
Intercompany receivable – current		190		42		15,279			(15,511	)		—
Total current assets		337,768		544,675		109,515			(15,511	)		976,447
Other assets		68,707		11,824		909			—			81,440
Goodwill and intangible assets, net		108,884		331,810		109,203			—			549,897
Property and equipment, net		62,608		157,270		10,906			—			230,784
Investment in subsidiaries		1,499,209		—		(24,838	)		(1,474,371	)		—
Intercompany receivable – noncurrent		597,515		578,821		762,281			(1,938,617	)		—
Total assets	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568
Liabilities and Equity
Current liabilities
Borrowings under revolving credit agreement	$	335,000	$	—	$	—		$	—		$	335,000
Trade accounts payable		146,400		130,670		39,228			—			316,298
Other accrued expenses		95,498		86,015		20,525			—			202,038
Intercompany payable – current		10,781		—		4,730			(15,511	)		—
Total current liabilities		587,679		216,685		64,483			(15,511	)		853,336
Other liabilities
Long-term debt		197,932		—		—			—			197,932
Other liabilities		105,689		41,149		5,027			—			151,865
Intercompany payable – noncurrent		1,149,338		115,114		674,165			(1,938,617	)		—
Total other liabilities		1,452,959		156,263		679,192			(1,938,617	)		349,797
Equity
Caleres, Inc. shareholders’ equity		634,053		1,251,452		222,919			(1,474,371	)		634,053
Noncontrolling interests		—		—		1,382			—			1,382
Total equity		634,053		1,251,452		224,301			(1,474,371	)		635,435
Total liabilities and equity	$	2,674,691	$	1,624,400	$	967,976		$	(3,428,499	)	$	1,838,568

Condensed Income Statement [Table Text Block]

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	223,640		$	563,398		$	59,062		$	(53,725	)	$	792,375
Cost of goods sold		148,245			340,009			30,127			(45,776	)		472,605
Gross profit		75,395			223,389			28,935			(7,949	)		319,770
Selling and administrative expenses		61,728			204,612			16,939			(7,949	)		275,330
Restructuring and other special charges, net		969			-			-			-			969
Operating (loss) earnings		12,698			18,777			11,996			-			43,471
Interest (expense) income		(10,564	)		(25	)		30			-			(10,559	)
Other income (expense)		2,653			-			(20	)		-			2,633
Intercompany interest income (expense)		2,660			(2,709	)		49			-			-
(Loss) earnings before income taxes		7,447			16,043			12,055			-			35,545
Income tax benefit (provision)		(2,776	)		(3,651	)		(1,357	)		-			(7,784	)
Equity in earnings (loss) of subsidiaries, net of tax		23,316			-			(488	)		(22,828	)		-
Net earnings		27,987			12,392			10,210			(22,828	)		27,761
Less: Net loss attributable to noncontrolling interests		-			-			(226	)		-			(226	)
Net earnings attributable to Caleres, Inc.	$	27,987		$	12,392		$	10,436		$	(22,828	)	$	27,987
Comprehensive income	$	29,074		$	12,445		$	10,718		$	(23,402	)	$	28,835
Less: Comprehensive loss attributable to noncontrolling interests		-			-			(239	)		-			(239	)
Comprehensive income attributable to Caleres, Inc.	$	29,074		$	12,445		$	10,957		$	(23,402	)	$	29,074

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	623,292		$	1,584,601		$	194,233		$	(179,512	)	$	2,222,614
Cost of goods sold		426,872			940,140			101,464			(151,412	)		1,317,064
Gross profit		196,420			644,461			92,769			(28,100	)		905,550
Selling and administrative expenses		181,662			600,020			51,390			(28,100	)		804,972
Restructuring and other special charges, net		2,434			—			—			—			2,434
Operating earnings		12,324			44,441			41,379			—			98,144
Interest (expense) income		(25,294	)		(77	)		83			—			(25,288	)
Other income (expense)		7,960			—			(58	)		—			7,902
Intercompany interest income (expense)		8,231			(8,292	)		61			—			-
Earnings before income taxes		3,221			36,072			41,465			—			80,758
Income tax provision		(3,159	)		(9,393	)		(6,133	)		—			(18,685	)
Equity in earnings (loss) of subsidiaries, net of tax		62,349			—			(1,111	)		(61,238	)		-
Net earnings		62,411			26,679			34,221			(61,238	)		62,073
Less: Net loss attributable to noncontrolling interests		—			—			(338	)		—			(338	)
Net earnings attributable to Caleres, Inc.	$	62,411		$	26,679		$	34,559		$	(61,238	)	$	62,411
Comprehensive income	$	63,694		$	26,641		$	33,772		$	(60,785	)	$	63,322
Less: Comprehensive loss attributable to noncontrolling interests		—			—			(372	)		—			(372	)
Comprehensive income attributable to Caleres, Inc.	$	63,694		$	26,641		$	34,144		$	(60,785	)	$	63,694

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	240,295		$	540,379		$	62,672		$	(67,517	)	$	775,829
Cost of goods sold		163,609			325,966			32,262			(56,618	)		465,219
Gross profit		76,686			214,413			30,410			(10,899	)		310,610
Selling and administrative expenses		64,766			195,318			16,337			(10,899	)		265,522
Restructuring and other special charges, net		4,831			509			—			—			5,340
Operating earnings		7,089			18,586			14,073			—			39,748
Interest (expense) income		(4,484	)		—			274			—			(4,210	)
Other income (expense)		3,101			—			(16	)		—			3,085
Intercompany interest income (expense)		2,976			(2,951	)		(25	)		—			—
Earnings before income taxes		8,682			15,635			14,306			—			38,623
Income tax provision		(3,012	)		(4,122	)		(2,334	)		—			(9,468	)
Equity in earnings (loss) of subsidiaries, net of tax		23,483			—			(662	)		(22,821	)		—
Net earnings		29,153			11,513			11,310			(22,821	)		29,155
Less: Net earnings attributable to noncontrolling interests		—			—			2			—			2
Net earnings attributable to Caleres, Inc.	$	29,153		$	11,513		$	11,308		$	(22,821	)	$	29,153
Comprehensive income	$	29,309		$	11,451		$	11,362		$	(22,822	)	$	29,300
Less: Comprehensive loss attributable to noncontrolling interests		—			—			(9	)		—			(9	)
Comprehensive income attributable to Caleres, Inc.	$	29,309		$	11,451		$	11,371		$	(22,822	)	$	29,309

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations			Total
Net sales	$	651,807		$	1,487,877		$	164,829		$	(189,930	)	$	2,114,583
Cost of goods sold		448,832			862,345			83,538			(158,765	)		1,235,950
Gross profit		202,975			625,532			81,291			(31,165	)		878,633
Selling and administrative expenses		204,696			558,714			42,310			(31,165	)		774,555
Restructuring and other special charges, net		5,679			3,561			—			—			9,240
Operating (loss) earnings		(7,400	)		63,257			38,981			—			94,838
Interest (expense) income		(12,108	)		(25	)		638			—			(11,495	)
Other income (expense)		9,305			—			(51	)		—			9,254
Intercompany interest income (expense)		8,617			(8,650	)		33			—			—
(Loss) earnings before income taxes		(1,586	)		54,582			39,601			—			92,597
Income tax provision		(2,065	)		(14,257	)		(6,329	)		—			(22,651	)
Equity in earnings (loss) of subsidiaries, net of tax		73,662			—			(1,256	)		(72,406	)		—
Net earnings		70,011			40,325			32,016			(72,406	)		69,946
Less: Net loss attributable to noncontrolling interests		—			—			(65	)		—			(65	)
Net earnings attributable to Caleres, Inc.	$	70,011		$	40,325		$	32,081		$	(72,406	)	$	70,011
Comprehensive income	$	68,633		$	40,235		$	31,824		$	(72,200	)	$	68,492
Less: Comprehensive loss attributable to noncontrolling interests		—			—			(141	)		—			(141	)
Comprehensive income attributable to Caleres, Inc.	$	68,633		$	40,235		$	31,965		$	(72,200	)	$	68,633

Condensed Cash Flow Statement [Table Text Block]

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash provided by operating activities	$	15,776		$	79,884		$	50,077		$	—	$	145,737
Investing activities
Purchases of property and equipment		(20,965	)		(14,365	)		(2,024	)		—		(37,354	)
Disposals of property and equipment		636			—			—			—		636
Capitalized software		(4,696	)		(197	)		—			—		(4,893	)
Intercompany investing		(337	)		337			—			—		—
Net cash used for investing activities		(25,362	)		(14,225	)		(2,024	)		—		(41,611	)
Financing activities
Borrowings under revolving credit agreement		237,000			—			—			—		237,000
Repayments under revolving credit agreement		(277,000	)		—			—			—		(277,000	)
Dividends paid		(8,631	)		—			—			—		(8,631	)
Acquisition of treasury stock		(31,168	)		—			—			—		(31,168	)
Issuance of common stock under share-based plans, net		(2,605	)		—			—			—		(2,605	)
Contributions by noncontrolling interests								1,500					1,500
Other		(84	)		(938	)		—			—		(1,022	)
Intercompany financing		94,559			(53,829	)		(40,730	)		—		—
Net cash used for financing activities		12,071			(54,767	)		(39,230	)		—		(81,926	)
Effect of exchange rate changes on cash and cash equivalents		—			—			102			—		102
Increase in cash and cash equivalents		2,485			10,892			8,925			—		22,302
Cash and cash equivalents at beginning of period		2			9,148			21,050			—		30,200
Cash and cash equivalents at end of period	$	2,487		$	20,040		$	29,975		$	—	$	52,502

							Non-
($ thousands)	Parent			Guarantors			Guarantors			Eliminations		Total
Net cash provided by operating activities	$	2,739		$	76,601		$	15,070		$	—	$	94,410
Investing activities
Purchases of property and equipment		(14,094	)		(19,571	)		(1,579	)		—		(35,244	)
Capitalized software		(3,077	)		(428	)		—			—		(3,505	)
Acquisition of Blowfish Malibu, net of cash received		(17,284	)		—			—			—		(17,284	)
Acquisition of Vionic, net of cash received		(344,942	)		—			—			—		(344,942	)
Intercompany investing		2			(2	)		—			—		—
Net cash used for investing activities		(379,395	)		(20,001	)		(1,579	)		—		(400,975	)
Financing activities
Borrowings under revolving credit agreement		360,000			—			—			—		360,000
Repayments under revolving credit agreement		(10,000	)		—			—			—		(10,000	)
Repayments under capital lease obligations		—			(114	)		—			—		(114	)
Dividends paid		(9,059	)		—			—			—		(9,059	)
Acquisition of treasury stock		(3,288	)		—			—			—		(3,288	)
Issuance of common stock under share-based plans, net		(4,318	)		—			—			—		(4,318	)
Intercompany financing		21,244			(44,669	)		23,425			—		—
Net cash provided by (used for) financing activities		354,579			(44,783	)		23,425			—		333,221
Effect of exchange rate changes on cash and cash equivalents		—			—			(212	)		—		(212	)
(Decrease) increase in cash and cash equivalents		(22,077	)		11,817			36,704			—		26,444
Cash and cash equivalents at beginning of period		26,089			—			37,958			—		64,047
Cash and cash equivalents at end of period	$	4,012		$	11,817		$	74,662		$	—	$	90,491