Condensed Consolidating Financial Information (Tables)

3 Months Ended

May 05, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet [Table Text Block]

Condensed Consolidating Balance Sheet

As of May 5, 2018

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries			Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,070	$	79	$	382		$	—		$	1,531
Receivables	—		48		202			—			250
Merchandise inventories	—		2,283		3,008			—			5,291
Prepaid expenses and other current assets	—		150		488			—			638
Total Current Assets	1,070		2,560		4,080			—			7,710
Property and Equipment – net	—		3,298		3,277			—			6,575
Goodwill	—		3,326		582			—			3,908
Other Intangible Assets – net	—		43		443			—			486
Other Assets	1		96		792			—			889
Deferred Income Taxes	5		—		—			(5		)	—
Intercompany Receivable	1,156		—		2,113			(3,269		)	—
Investment in Subsidiaries	3,975		4,232		—			(8,207		)	—
Total Assets	$	6,207	$	13,555	$	11,287		$	(11,481	)	$	19,568
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	6	$	19		$	—		$	25
Merchandise accounts payable	—		896		1,149			—			2,045
Accounts payable and accrued liabilities	109		784		1,802			—			2,695
Income taxes	253		35		24			—			312
Total Current Liabilities	362		1,721		2,994			—			5,077
Long-Term Debt	—		5,841		16			—			5,857
Intercompany Payable	—		3,269		—			(3,269		)	—
Deferred Income Taxes	—		570		604			(5		)	1,169
Other Liabilities	24		416		1,224			—			1,664
Shareholders' Equity:
Macy's, Inc.	5,821		1,738		6,469			(8,207		)	5,821
Noncontrolling Interest	—		—		(20		)	—			(20		)
Total Shareholders' Equity	5,821		1,738		6,449			(8,207		)	5,801
Total Liabilities and Shareholders' Equity	$	6,207	$	13,555	$	11,287		$	(11,481	)	$	19,568

Condensed Consolidating Balance Sheet

As of April 29, 2017

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries			Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	779	$	99	$	323		$	—		$	1,201
Receivables	—		118		227			—			345
Merchandise inventories	—		2,560		3,066			—			5,626
Prepaid expenses and other current assets	—		150		484			—			634
Total Current Assets	779		2,927		4,100			—			7,806
Property and Equipment – net	—		3,479		3,407			—			6,886
Goodwill	—		3,315		582			—			3,897
Other Intangible Assets – net	—		49		447			—			496
Other Assets	—		45		748			—			793
Deferred Income Taxes	24		—		—			(24		)	—
Intercompany Receivable	902		—		2,092			(2,994		)	—
Investment in Subsidiaries	3,063		3,598		—			(6,661		)	—
Total Assets	$	4,768	$	13,413	$	11,376		$	(9,679	)	$	19,878
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	306	$	7		$	—		$	313
Merchandise accounts payable	—		841		1,187			—			2,028
Accounts payable and accrued liabilities	22		962		2,058			—			3,042
Income taxes	317		6		32			—			355
Total Current Liabilities	339		2,115		3,284			—			5,738
Long-Term Debt	—		6,395		17			—			6,412
Intercompany Payable	—		2,994		—			(2,994		)	—
Deferred Income Taxes	—		733		813			(24		)	1,522
Other Liabilities	67		498		1,281			—			1,846
Shareholders' Equity:
Macy's, Inc.	4,362		678		5,983			(6,661		)	4,362
Noncontrolling Interest	—		—		(2		)	—			(2		)
Total Shareholders' Equity	4,362		678		5,981			(6,661		)	4,360
Total Liabilities and Shareholders' Equity	$	4,768	$	13,413	$	11,376		$	(9,679	)	$	19,878

Condensed Consolidating Balance Sheet

As of February 3, 2018

(millions)

	Parent		Subsidiary Issuer		Other Subsidiaries			Consolidating Adjustments			Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents	$	1,109	$	58	$	288		$	—		$	1,455
Receivables	—		85		278			—			363
Merchandise inventories	—		2,344		2,834			—			5,178
Prepaid expenses and other current assets	—		165		485			—			650
Total Current Assets	1,109		2,652		3,885			—			7,646
Property and Equipment – net	—		3,349		3,323			—			6,672
Goodwill	—		3,315		582			—			3,897
Other Intangible Assets – net	—		44		444			—			488
Other Assets	1		89		790			—			880
Deferred Income Taxes	11		—		—			(11		)	—
Intercompany Receivable	884		—		2,388			(3,272		)	—
Investment in Subsidiaries	4,032		4,126		—			(8,158		)	—
Total Assets	$	6,037	$	13,575	$	11,412		$	(11,441	)	$	19,583
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt	$	—	$	6	$	16		$	—		$	22
Merchandise accounts payable	—		653		937			—			1,590
Accounts payable and accrued liabilities	159		980		2,132			—			3,271
Income taxes	113		30		153			—			296
Total Current Liabilities	272		1,669		3,238			—			5,179
Long-Term Debt	—		5,844		17			—			5,861
Intercompany Payable	—		3,272		—			(3,272		)	—
Deferred Income Taxes	—		559		600			(11		)	1,148
Other Liabilities	20		430		1,212			—			1,662
Shareholders' Equity:
Macy's, Inc.	5,745		1,801		6,357			(8,158		)	5,745
Noncontrolling Interest	—		—		(12		)	—			(12		)
Total Shareholders' Equity	5,745		1,801		6,345			(8,158		)	5,733
Total Liabilities and Shareholders' Equity	$	6,037	$	13,575	$	11,412		$	(11,441	)	$	19,583

Condensed Consolidating Statement of Cash Flows [Table Text Block]

Condensed Consolidating Statement of Cash Flows

For the 13 weeks endedMay 5, 2018

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income (loss)	$	139		$	(69	)	$	299		$	(238	)	$	131
Impairment and other costs	—			—			19			—			19
Equity in earnings of subsidiaries	(136		)	(102		)	—			238			—
Dividends received from subsidiaries	200			—			—			(200		)	—
Depreciation and amortization	—			82			153			—			235
Gains on sale of real estate	—			(23		)	(1		)	—			(24		)
Changes in assets, liabilities and other items not separately identified	150			175			(364		)	—			(39		)
Net cash provided by operating activities	353			63			106			(200		)	322
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	—			(50		)	(117		)	—			(167		)
Other, net	—			(10		)	21			—			11
Net cash used by investing activities	—			(60		)	(96		)	—			(156		)
Cash flows from financing activities:
Debt repaid	—			(3		)	—			—			(3		)
Dividends paid	(116		)	—			(200		)	200			(116		)
Issuance of common stock, net of common stock acquired	28			—			—			—			28
Proceeds from noncontrolling interest	—			—			2			—			2
Intercompany activity, net	(254		)	(10		)	264			—			—
Other, net	(50		)	23			17			—			(10		)
Net cash provided (used) by financing activities	(392		)	10			83			200			(99		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(39		)	13			93			—			67
Cash, cash equivalents and restricted cash at beginning of period	1,109			79			325			—			1,513
Cash, cash equivalents and restricted cash at end of period	$	1,070		$	92		$	418		$	—		$	1,580

Condensed Consolidating Statement of Cash Flows

For the 13 weeks endedApril 29, 2017

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities:
Net income (loss)	$	78		$	(120	)	$	198		$	(79	)	$	77
Equity in earnings of subsidiaries	(78		)	(1		)	—			79			—
Dividends received from subsidiaries	211			—			—			(211		)	—
Depreciation and amortization	—			89			154			—			243
Gains on sale of real estate	—			(65		)	(3		)	—			(68		)
Changes in assets, liabilities and other items not separately identified	251			241			(507		)	—			(15		)
Net cash provided (used) by operating activities	462			144			(158		)	(211		)	237
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	—			58			(139		)	—			(81		)
Other, net	—			—			21			—			21
Net cash provided (used) by investing activities	—			58			(118		)	—			(60		)
Cash flows from financing activities:
Debt repaid	—			(152		)	—			—			(152		)
Dividends paid	(115		)	—			(211		)	211			(115		)
Issuance of common stock, net of common stock acquired	1			—			—			—			1
Proceeds from noncontrolling interest	—			—			3			—			3
Intercompany activity, net	(515		)	(1		)	516			—			—
Other, net	8			(31		)	13			—			(10		)
Net cash provided (used) by financing activities	(621		)	(184		)	321			211			(273		)
Net increase (decrease) in cash, cash equivalents and restricted cash	(159		)	18			45			—			(96		)
Cash, cash equivalents and restricted cash at beginning of period	938			81			315			—			1,334
Cash, cash equivalents and restricted cash at end of period	$	779		$	99		$	360		$	—		$	1,238

Condensed Consolidating Statement of Comprehensive Income [Table Text Block]

Condensed Consolidating Statement of Comprehensive Income

For the 13 weeks endedMay 5, 2018

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	2,008		$	5,363		$	(1,830	)	$	5,541
Credit card revenues (expense), net	—			(6		)	163			—			157
Cost of sales	—			(1,320		)	(3,892		)	1,830			(3,382		)
Selling, general and administrative expenses	—			(828		)	(1,255		)	—			(2,083		)
Gains on sale of real estate	—			23			1			—			24
Impairment and other costs	—			—			(19		)	—			(19		)
Operating income (loss)	—			(123		)	361			—			238
Benefit plan income, net	—			4			7			—			11
Interest (expense) income, net:
External	4			(71		)	1			—			(66		)
Intercompany	—			(18		)	18			—			—
Equity in earnings of subsidiaries	136			102			—			(238		)	—
Income (loss) before income taxes	140			(106		)	387			(238		)	183
Federal, state and local income tax benefit (expense)	(1		)	37			(88		)	—			(52		)
Net income (loss)	139			(69		)	299			(238		)	131
Net loss attributable to noncontrolling interest	—			—			8			—			8
Net income (loss) attributable to Macy's, Inc. shareholders	$	139		$	(69	)	$	307		$	(238	)	$	139
Comprehensive income (loss)	$	146		$	(63	)	$	303		$	(248	)	$	138
Comprehensive loss attributable to noncontrolling interest	—			—			8			—			8
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$	146		$	(63	)	$	311		$	(248	)	$	146

Condensed Consolidating Statement of Comprehensive Income

For the 13 weeks endedApril 29, 2017

(millions)

	Parent			Subsidiary Issuer			Other Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	2,064		$	5,130		$	(1,844	)	$	5,350
Credit card revenues (expense), net	—			(6		)	167			—			161
Cost of sales	—			(1,386		)	(3,761		)	1,844			(3,303		)
Selling, general and administrative expenses	(1		)	(767		)	(1,289		)	—			(2,057		)
Gains on sale of real estate	—			65			3			—			68
Operating income (loss)	(1		)	(30		)	250			—			219
Benefit plan income, net	—			5			8			—			13
Interest (expense) income, net:
External	1			(85		)	—			—			(84		)
Intercompany	—			(34		)	34			—			—
Premiums on early retirement of debt	—			(3		)	—			—			(3		)
Equity in earnings of subsidiaries	78			1			—			(79		)	—
Income (loss) before income taxes	78			(146		)	292			(79		)	145
Federal, state and local income tax benefit (expense)	—			26			(94		)	—			(68		)
Net income (loss)	78			(120		)	198			(79		)	77
Net loss attributable to noncontrolling interest	—			—			1			—			1
Net income (loss) attributable to Macy's, Inc. shareholders	$	78		$	(120	)	$	199		$	(79	)	$	78
Comprehensive income (loss)	$	84		$	(114	)	$	202		$	(89	)	$	83
Comprehensive loss attributable to noncontrolling interest	—			—			1			—			1
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$	84		$	(114	)	$	203		$	(89	)	$	84