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Condensed Consolidating Financial Information
9 Months Ended
Oct. 29, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Condensed Consolidating Financial Information
    Condensed Consolidating Financial Information
Certain debt obligations of the Company, which constitute debt obligations of Macy's Retail Holdings, Inc. ("Subsidiary Issuer"), a 100%-owned subsidiary of Macy's, Inc. ("Parent"), 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 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 Statements of Comprehensive Income for the 13 and 39 weeks ended October 29, 2016 and October 31, 2015, Condensed Consolidating Balance Sheets as of October 29, 2016, October 31, 2015 and January 30, 2016, and the related Condensed Consolidating Statements of Cash Flows for the 39 weeks ended October 29, 2016 and October 31, 2015 are presented on the following pages.

Condensed Consolidating Statement of Comprehensive Income
For the 13 Weeks Ended October 29, 2016
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$

 
$
2,376

 
$
6,183

 
$
(2,933
)
 
$
5,626

Cost of sales

 
(1,577
)
 
(4,742
)
 
2,933

 
(3,386
)
Gross margin

 
799

 
1,441

 

 
2,240

Selling, general and administrative expenses
(1
)
 
(909
)
 
(1,161
)
 

 
(2,071
)
Settlement charges

 
(24
)
 
(38
)
 

 
(62
)
Operating income (loss)
(1
)
 
(134
)
 
242

 

 
107

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
1

 
(82
)
 

 

 
(81
)
Intercompany

 
(51
)
 
51

 

 

Equity in earnings (loss) of subsidiaries
17

 
(101
)
 

 
84

 

Income (loss) before income taxes
17

 
(368
)
 
293

 
84

 
26

Federal, state and local income
tax benefit (expense)

 
68

 
(79
)
 

 
(11
)
Net income (loss)
17

 
(300
)
 
214

 
84

 
15

Net loss attributable to noncontrolling interest

 

 
2

 

 
2

Net income (loss) attributable to
Macy's, Inc. shareholders
$
17

 
$
(300
)
 
$
216

 
$
84

 
$
17

Comprehensive income (loss)
$
62

 
$
(255
)
 
$
241

 
$
12

 
$
60

Comprehensive loss attributable to
noncontrolling interest

 

 
2

 

 
2

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
62

 
$
(255
)
 
$
243

 
$
12

 
$
62


Condensed Consolidating Statement of Comprehensive Income
For the 13 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$

 
$
2,654

 
$
6,366

 
$
(3,146
)
 
$
5,874

Cost of sales

 
(1,761
)
 
(4,922
)
 
3,146

 
(3,537
)
Gross margin

 
893

 
1,444

 

 
2,337

Selling, general and administrative expenses

 
(957
)
 
(1,011
)
 

 
(1,968
)
Impairments and other costs

 
(102
)
 
(9
)
 


(111
)
Operating income (loss)

 
(166
)
 
424

 

 
258

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External

 
(79
)
 
(1
)
 

 
(80
)
Intercompany

 
(58
)
 
58

 

 

Equity in earnings (loss) of subsidiaries
117

 
(9
)
 

 
(108
)
 

Income (loss) before income taxes
117

 
(312
)
 
481

 
(108
)
 
178

Federal, state and local income
tax benefit (expense)
1

 
84

 
(146
)
 

 
(61
)
Net income (loss)
118

 
(228
)
 
335

 
(108
)
 
117

Net loss attributable to noncontrolling interest

 

 
1

 

 
1

Net income (loss) attributable to
Macy's, Inc. shareholders
$
118

 
$
(228
)
 
$
336

 
$
(108
)
 
$
118

Comprehensive income (loss)
$
125

 
$
(221
)
 
$
339

 
$
(119
)
 
$
124

Comprehensive loss attributable to
noncontrolling interest

 

 
1

 

 
1

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
125

 
$
(221
)
 
$
340

 
$
(119
)
 
$
125



Condensed Consolidating Statement of Comprehensive Income
For the 39 Weeks Ended October 29, 2016
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$

 
$
7,324

 
$
16,546

 
$
(6,607
)
 
$
17,263

Cost of sales

 
(4,704
)
 
(12,273
)
 
6,607

 
(10,370
)
Gross margin

 
2,620

 
4,273

 

 
6,893

Selling, general and administrative expenses
(2
)
 
(2,732
)
 
(3,329
)
 

 
(6,063
)
Impairments and other costs

 
(184
)
 
(65
)
 

 
(249
)
Settlement charges

 
(29
)
 
(52
)
 

 
(81
)
Operating income (loss)
(2
)
 
(325
)
 
827

 

 
500

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External
2

 
(278
)
 

 

 
(276
)
Intercompany

 
(166
)
 
166

 

 

Equity in earnings (loss) of subsidiaries
144

 
(69
)
 

 
(75
)
 

Income (loss) before income taxes
144

 
(838
)
 
993

 
(75
)
 
224

Federal, state and local income
tax benefit (expense)

 
243

 
(328
)
 

 
(85
)
Net income (loss)
144

 
(595
)
 
665

 
(75
)
 
139

Net loss attributable to noncontrolling interest


 

 
5

 

 
5

Net income (loss) attributable to
Macy's, Inc. shareholders
$
144

 
$
(595
)
 
$
670

 
$
(75
)
 
$
144

Comprehensive income (loss)
$
164

 
$
(575
)
 
$
677

 
$
(107
)
 
$
159

Comprehensive loss attributable to
noncontrolling interest

 

 
5

 

 
5

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
164

 
$
(575
)
 
$
682

 
$
(107
)
 
$
164


Condensed Consolidating Statement of Comprehensive Income
For the 39 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Net sales
$

 
$
8,191

 
$
17,106

 
$
(7,087
)
 
$
18,210

Cost of sales

 
(5,258
)
 
(12,776
)
 
7,087

 
(10,947
)
Gross margin

 
2,933

 
4,330

 

 
7,263

Selling, general and administrative expenses
(1
)
 
(2,962
)
 
(3,086
)
 

 
(6,049
)
Impairments and other costs

 
(102
)
 
(9
)
 

 
(111
)
Operating income (loss)
(1
)
 
(131
)
 
1,235

 

 
1,103

Interest (expense) income, net:
 
 
 
 
 
 
 
 
 
External

 
(267
)
 
(1
)
 

 
(268
)
Intercompany

 
(173
)
 
173

 

 

Equity in earnings of subsidiaries
528

 
137

 

 
(665
)
 

Income (loss) before income taxes
527

 
(434
)
 
1,407

 
(665
)
 
835

Federal, state and local income
tax benefit (expense)
1

 
163

 
(472
)
 

 
(308
)
Net income (loss)
528

 
(271
)
 
935

 
(665
)
 
527

Net loss attributable to noncontrolling interest

 

 
1

 

 
1

Net income (loss) attributable to
Macy's, Inc. shareholders
$
528

 
$
(271
)
 
$
936

 
$
(665
)
 
$
528

Comprehensive income (loss)
$
550

 
$
(249
)
 
$
948

 
$
(700
)
 
$
549

Comprehensive loss attributable to
noncontrolling interest

 

 
1

 

 
1

Comprehensive income (loss) attributable to
Macy's, Inc. shareholders
$
550

 
$
(249
)
 
$
949

 
$
(700
)
 
$
550



Condensed Consolidating Balance Sheet
As of October 29, 2016
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
60

 
$
99

 
$
298

 
$

 
$
457

Receivables

 
74

 
188

 

 
262

Merchandise inventories

 
3,621

 
3,966

 

 
7,587

Income tax receivable
99

 

 

 
(39
)
 
60

Prepaid expenses and other current assets

 
89

 
365

 

 
454

Total Current Assets
159

 
3,883

 
4,817

 
(39
)
 
8,820

Property and Equipment – net

 
3,534

 
3,615

 

 
7,149

Goodwill

 
3,315

 
582

 

 
3,897

Other Intangible Assets – net

 
47

 
452

 

 
499

Other Assets
1

 
153

 
755

 

 
909

Deferred Income Taxes
24

 

 

 
(24
)
 

Intercompany Receivable
878

 

 
1,876

 
(2,754
)
 

Investment in Subsidiaries
2,954

 
3,173

 

 
(6,127
)
 

Total Assets
$
4,016

 
$
14,105

 
$
12,097

 
$
(8,944
)
 
$
21,274

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$

 
$
935

 
$
3

 
$

 
$
938

Merchandise accounts payable

 
1,481

 
1,894

 

 
3,375

Accounts payable and accrued liabilities
164

 
910

 
1,856

 

 
2,930

Income taxes

 
3

 
36

 
(39
)
 

Total Current Liabilities
164

 
3,329

 
3,789

 
(39
)
 
7,243

Long-Term Debt

 
6,545

 
18

 

 
6,563

Intercompany Payable

 
2,754

 

 
(2,754
)
 

Deferred Income Taxes

 
694

 
878

 
(24
)
 
1,548

Other Liabilities
63

 
565

 
1,501

 

 
2,129

Shareholders' Equity:
 
 
 
 
 
 
 
 
 
Macy's, Inc.
3,789

 
218

 
5,909

 
(6,127
)
 
3,789

Noncontrolling Interest

 

 
2

 

 
2

Total Shareholders' Equity
3,789

 
218

 
5,911

 
(6,127
)
 
3,791

Total Liabilities and Shareholders' Equity
$
4,016

 
$
14,105

 
$
12,097

 
$
(8,944
)
 
$
21,274








Condensed Consolidating Balance Sheet
As of October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
ASSETS:
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
11

 
$
94

 
$
369

 
$

 
$
474

Receivables

 
38

 
162

 

 
200

Merchandise inventories

 
3,959

 
4,012

 

 
7,971

Income tax receivable
32

 

 

 
(32
)
 

Prepaid expenses and other current assets

 
93

 
333

 

 
426

Total Current Assets
43

 
4,184

 
4,876

 
(32
)
 
9,071

Property and Equipment – net

 
4,112

 
3,517

 

 
7,629

Goodwill

 
3,315

 
582

 

 
3,897

Other Intangible Assets – net

 
59

 
459

 

 
518

Other Assets
2

 
44

 
722

 

 
768

Deferred Income Taxes
17

 

 

 
(17
)
 

Intercompany Receivable

 

 
3,413

 
(3,413
)
 

Investment in Subsidiaries
4,644

 
3,621

 

 
(8,265
)
 

Total Assets
$
4,706

 
$
15,335

 
$
13,569

 
$
(11,727
)
 
$
21,883

LIABILITIES AND SHAREHOLDERS’ EQUITY:
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Short-term debt
$

 
$
856

 
$
1

 
$

 
$
857

Merchandise accounts payable

 
1,734

 
1,874

 

 
3,608

Accounts payable and accrued liabilities
103

 
1,116

 
1,468

 

 
2,687

Income taxes

 
4

 
130

 
(32
)
 
102

Total Current Liabilities
103

 
3,710

 
3,473

 
(32
)
 
7,254

Long-Term Debt

 
7,057

 
19

 

 
7,076

Intercompany Payable
601

 
2,812

 

 
(3,413
)
 

Deferred Income Taxes

 
700

 
770

 
(17
)
 
1,453

Other Liabilities
31

 
580

 
1,514

 

 
2,125

Shareholders' Equity:
 
 
 
 
 
 
 
 
 
Macy's, Inc.
3,971

 
476

 
7,789

 
(8,265
)
 
3,971

Noncontrolling Interest

 

 
4

 

 
4

Total Shareholders' Equity
3,971

 
476

 
7,793

 
(8,265
)
 
3,975

Total Liabilities and Shareholders' Equity
$
4,706

 
$
15,335

 
$
13,569

 
$
(11,727
)
 
$
21,883






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

Income tax receivable
44

 

 

 
(44
)
 

Prepaid expenses and other current assets

 
135

 
344

 

 
479

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




Condensed Consolidating Statement of Cash Flows
For the 39 Weeks Ended October 29, 2016
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
144

 
$
(595
)
 
$
665

 
$
(75
)
 
$
139

Impairments and other costs

 
184

 
65

 

 
249

Settlement charges

 
29

 
52

 

 
81

Equity in (earnings) loss of subsidiaries
(144
)
 
69

 

 
75

 

Dividends received from subsidiaries
535

 
575

 

 
(1,110
)
 

Depreciation and amortization

 
298

 
489

 

 
787

Increase in working capital
(59
)
 
(582
)
 
(344
)
 

 
(985
)
Other, net
19

 
(26
)
 
44

 

 
37

Net cash provided (used) by operating activities
495

 
(48
)
 
971

 
(1,110
)
 
308

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net

 
(23
)
 
(520
)
 

 
(543
)
Other, net

 
47

 
5

 

 
52

Net cash provided (used) by investing activities

 
24

 
(515
)
 

 
(491
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt repaid, net of debt issued

 
(122
)
 
2

 

 
(120
)
Dividends paid
(344
)
 

 
(1,110
)
 
1,110

 
(344
)
Common stock acquired, net of
issuance of common stock
(199
)
 

 

 

 
(199
)
Proceeds from noncontrolling interest

 

 
4

 

 
4

Intercompany activity, net
(642
)
 
158

 
484

 

 

Other, net
9

 
(4
)
 
185

 

 
190

Net cash provided (used) by
financing activities
(1,176
)
 
32

 
(435
)
 
1,110

 
(469
)
Net increase (decrease) in cash
and cash equivalents
(681
)
 
8

 
21

 

 
(652
)
Cash and cash equivalents at beginning of period
741

 
91

 
277

 

 
1,109

Cash and cash equivalents at end of period
$
60

 
$
99

 
$
298

 
$

 
$
457









Condensed Consolidating Statement of Cash Flows
For the 39 Weeks Ended October 31, 2015
(millions)
 
 
Parent
 
Subsidiary
Issuer
 
Other
Subsidiaries
 
Consolidating
Adjustments
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net income (loss)
$
528

 
$
(271
)
 
$
935

 
$
(665
)
 
$
527

Impairments and other charges

 
102

 
9

 

 
111

Equity in earnings of subsidiaries
(528
)
 
(137
)
 

 
665

 

Dividends received from subsidiaries
597

 

 

 
(597
)
 

Depreciation and amortization

 
330

 
461

 

 
791

(Increase) decrease in working capital
55

 
(329
)
 
(867
)
 

 
(1,141
)
Other, net
(3
)
 
2

 
(9
)
 

 
(10
)
Net cash provided (used) by operating activities
649

 
(303
)
 
529

 
(597
)
 
278

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Purchase of property and equipment and capitalized software, net

 
(216
)
 
(530
)
 

 
(746
)
Other, net

 
14

 
(129
)
 

 
(115
)
Net cash used by investing activities

 
(202
)
 
(659
)
 

 
(861
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Debt issued, net of debt repaid

 
640

 
(1
)
 

 
639

Dividends paid
(344
)
 

 
(597
)
 
597

 
(344
)
Common stock acquired, net of
issuance of common stock
(1,625
)
 

 

 

 
(1,625
)
Proceeds from noncontrolling interest

 

 
5

 

 
5

Intercompany activity, net
(587
)
 
(73
)
 
660

 

 

Other, net
10

 
(62
)
 
188

 

 
136

Net cash provided (used) by
financing activities
(2,546
)
 
505

 
255

 
597

 
(1,189
)
Net increase (decrease) in cash and
cash equivalents
(1,897
)
 

 
125

 

 
(1,772
)
Cash and cash equivalents at beginning of period
1,908

 
94

 
244

 

 
2,246

Cash and cash equivalents at end of period
$
11

 
$
94

 
$
369

 
$

 
$
474