Condensed Consolidating Information (Tables)

3 Months Ended

May 02, 2015

Condensed Consolidating Information

Condensed Consolidating Balance Sheet

The Men’s Wearhouse, Inc.

Condensed Consolidating Balance Sheet

May 2, 2015

(in thousands)

	The Men’s		Guarantor		Non-Guarantor
	Wearhouse Inc.		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	21,889	$	4,798	$	35,115	$	—		$	61,802
Accounts receivable, net	31,050		367,908		37,016		(352,805		)	83,169
Inventories	251,227		582,638		152,592		—			986,457
Other current assets	110,398		50,749		9,131		—			170,278
Total current assets	414,564		1,006,093		233,854		(352,805		)	1,301,706
Property, plant and equipment, net	307,618		212,451		40,072		—			560,141
Tuxedo rental product, net	112,303		15,474		18,273		—			146,050
Goodwill	6,160		838,830		48,445		—			893,435
Intangible assets, net	266		642,659		22,010		—			664,935
Investments in subsidiaries	2,436,438		—		—		(2,436,438		)	—
Other assets	69,272		875		9,417		(42,732		)	36,832
Total assets	$	3,346,621	$	2,716,382	$	372,071	$	(2,831,975	)	$	3,603,099
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	421,947	$	114,764	$	49,160	$	(352,805	)	$	233,066
Accrued expenses and other current liabilities	174,239		93,061		23,984		—			291,284
Current maturities of long-term debt	7,000		—		—		—			7,000
Total current liabilities	603,186		207,825		73,144		(352,805		)	531,350
Long-term debt	1,679,634		—		33,432		(33,432		)	1,679,634
Deferred taxes and other liabilities	84,261		326,135		11,479		(9,300		)	412,575
Shareholders’ equity	979,540		2,182,422		254,016		(2,436,438		)	979,540
Total liabilities and shareholders’ equity	$	3,346,621	$	2,716,382	$	372,071	$	(2,831,975	)	$	3,603,099

The Men’s Wearhouse, Inc.

Condensed Consolidating Balance Sheet

May 3, 2014

(in thousands)

	The Men’s		Guarantor		Non-Guarantor
	Wearhouse Inc.		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	50,675	$	1,738	$	43,510	$	—		$	95,923
Accounts receivable, net	21,317		61,146		37,186		(51,871		)	67,778
Inventories	265,318		229,042		151,412		—			645,772
Other current assets	61,932		14,453		8,418		—			84,803
Total current assets	399,242		306,379		240,526		(51,871		)	894,276
Property, plant and equipment, net	304,381		62,060		40,343		—			406,784
Tuxedo rental product, net	117,186		8,831		22,103		—			148,120
Goodwill	7,564		65,720		53,814		—			127,098
Intangible assets, net	374		30,000		27,592		—			57,966
Investments in subsidiaries	590,196		—		—		(590,196		)	—
Other assets	66,195		363		10,582		(70,406		)	6,734
Total assets	$	1,485,138	$	473,353	$	394,960	$	(712,473	)	$	1,640,978
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	79,674	$	99,551	$	41,472	$	(51,871	)	$	168,826
Accrued expenses and other current liabilities	176,450		22,499		25,780		—			224,729
Current maturities of long-term debt	10,000		—		—		—			10,000
Total current liabilities	266,124		122,050		67,252		(51,871		)	403,555
Long-term debt	85,000		—		59,906		(59,906		)	85,000
Deferred taxes and other liabilities	91,287		15,867		13,042		(10,500		)	109,696
Shareholders’ equity	1,042,727		335,436		254,760		(590,196		)	1,042,727
Total liabilities and shareholders’ equity	$	1,485,138	$	473,353	$	394,960	$	(712,473	)	$	1,640,978

The Men’s Wearhouse, Inc.

Condensed Consolidating Balance Sheet

January 31, 2015

(in thousands)

	The Men’s		Guarantor		Non-Guarantor
	Wearhouse Inc.		Subsidiaries		Subsidiaries		Eliminations			Consolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	18,262	$	4,857	$	39,142	$	—		$	62,261
Accounts receivable, net	20,304		422,930		35,303		(405,271		)	73,266
Inventories	285,309		510,651		142,376		—			938,336
Other current assets	111,272		58,792		5,510		—			175,574
Total current assets	435,147		997,230		222,331		(405,271)			1,249,437
Property, plant and equipment, net	306,597		221,454		38,023		—			566,074
Tuxedo rental product, net	107,908		8,318		16,446		—			132,672
Goodwill	6,159		834,470		47,307		—			887,936
Intangible assets, net	293		645,388		22,578		—			668,259
Investments in subsidiaries	2,405,680		—		—		(2,405,680		)	—
Other assets	75,060		681		9,671		(43,032		)	42,380
Total assets	$	3,336,844	$	2,707,541	$	356,356	$	(2,853,983	)	$	3,546,758
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	449,102	$	120,499	$	45,537	$	(405,271	)	$	209,867
Accrued expenses and other current liabilities	145,943		101,363		23,238		—			270,544
Current maturities of long-term debt	11,000		—		—		—			11,000
Total current liabilities	606,045		221,862		68,775		(405,271		)	491,411
Long-term debt	1,676,232		—		33,432		(33,432		)	1,676,232
Deferred taxes and other liabilities	84,778		323,376		10,772		(9,600		)	409,326
Shareholders’ equity	969,789		2,162,303		243,377		(2,405,680		)	969,789
Total liabilities and shareholders’ equity	3,336,844		$	2,707,541	$	356,356	$	(2,853,983	)	$	3,546,758

Condensed Consolidating Statement of Earnings

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Earnings

For the Three Months Ended May 2, 2015

(in thousands)

	The Men’s			Guarantor			Non-Guarantor
	Wearhouse Inc.			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	455,494		$	442,549		$	99,761		$	(112,715	)	$	885,089
Cost of sales	231,450			319,750			65,052			(112,715		)	503,537
Gross margin	224,044			122,799			34,709			—			381,552
Operating expenses	194,025			107,282			28,036			(3,080		)	326,263
Operating income	30,019			15,517			6,673			3,080			55,289
Other income and expenses, net	3,080			—			—			(3,080		)	—
Interest income	556			818			24			(1,370		)	28
Interest expense	(27,097		)	(481		)	(275		)	1,370			(26,483		)
Loss on extinguishment of debt	(12,675		)	—			—			—			(12,675		)
(Loss) earnings before income taxes	(6,117		)	15,854			6,422			—			16,159
Provision for income taxes	50			3,880			1,860			—			5,790
(Loss) earnings before equity in net income of subsidiaries	(6,167		)	11,974			4,562			—			10,369
Equity in earnings of subsidiaries	16,536			—			—			(16,536		)	—
Net earnings attributable to common shareholders	$	10,369		$	11,974		$	4,562		$	(16,536	)	$	10,369
Comprehensive income	$	16,829		$	11,974		$	10,648		$	(22,622	)	$	16,829

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Earnings

For the Three Months Ended May 3, 2014

(in thousands)

	The Men’s			Guarantor			Non-Guarantor
	Wearhouse Inc.			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	419,348		$	252,658		$	101,083		$	(142,615	)	$	630,474
Cost of sales	213,215			210,813			65,697			(142,615		)	347,110
Gross margin	206,133			41,845			35,386			—			283,364
Operating expenses	201,370			28,328			29,767			(3,382		)	256,083
Operating income	4,763			13,517			5,619			3,382			27,281
Other income and expenses, net	3,008			374			—			(3,382		)	—
Interest income	478			150			57			(624		)	61
Interest expense	(1,284		)	(152		)	(323		)	624			(1,135		)
Earnings before income taxes	6,965			13,889			5,353			—			26,207
Provision for income taxes	7,008			1,609			1,132			—			9,749
(Loss) earnings before equity in net income of subsidiaries	(43		)	12,280			4,221			—			16,458
Equity in earnings of subsidiaries	16,501			—			—			(16,501		)	—
Net earnings including non-controlling interest	16,458			12,280			4,221			(16,501		)	16,458
Net loss attributable to non-controlling interest	28			—			28			(28		)	28
Net earnings attributable to common shareholders	$	16,486		$	12,280		$	4,249		$	(16,529	)	$	16,486
Comprehensive income	$	22,477		$	12,280		$	10,429		$	(22,709	)	$	22,477

Condensed Consolidating Statement of Cash Flows

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Cash Flows

For the Three Months Ended May 2, 2015

(in thousands)

	The Men’s			Guarantor			Non-Guarantor
	Wearhouse Inc.			Subsidiaries			Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	44,953		$	5,799		$	(1,767	)	$	—	$	48,985
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(21,503		)	(5,858		)	(3,023		)	—		(30,384		)
Net cash used in investing activities	(21,503		)	(5,858		)	(3,023		)	—		(30,384		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from asset-based revolving credit facility	3,000			—			—			—		3,000
Payments on asset-based revolving credit facility	(3,000		)	—			—			—		(3,000		)
Payments on new term loan	(4,500		)	—			—			—		(4,500		)
Deferred financing costs	(3,566		)	—			—			—		(3,566		)
Cash dividends paid	(8,863		)	—			—			—		(8,863		)
Proceeds from issuance of common stock	908			—			—			—		908
Tax payments related to vested deferred stock units	(4,506		)	—			—			—		(4,506		)
Excess tax benefits from share-based plans	981			—			—			—		981
Repurchases of common stock	(277		)	—			—			—		(277		)
Net cash used in financing activities	(19,823		)	—			—			—		(19,823		)
Effect of exchange rate changes	—			—			763			—		763
Increase (decrease) in cash and cash equivalents	3,627			(59		)	(4,027		)	—		(459		)
Cash and cash equivalents at beginning of period	18,262			4,857			39,142			—		62,261
Cash and cash equivalents at end of period	$	21,889		$	4,798		$	35,115		$	—	$	61,802

The Men’s Wearhouse, Inc.

Condensed Consolidating Statement of Cash Flows

For the Three Months Ended May 3, 2014

(in thousands)

	The Men’s			Guarantor			Non-Guarantor
	Wearhouse Inc.			Subsidiaries			Subsidiaries			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	78,972		$	(13,444	)	$	4,285		$	—	$	69,813
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(18,402		)	(1,773		)	(2,368		)	—		(22,543		)
Net cash used in investing activities	(18,402		)	(1,773		)	(2,368		)	—		(22,543		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on previous term loan	(2,500		)	—			—			—		(2,500		)
Deferred financing costs	(1,389		)	—			—			—		(1,389		)
Cash dividends paid	(8,812		)	—			—			—		(8,812		)
Proceeds from issuance of common stock	4,373			—			—			—		4,373
Tax payments related to vested deferred stock units	(5,732		)	—			—			—		(5,732		)
Excess tax benefits from share-based plans	3,002			—			—			—		3,002
Repurchases of common stock	(251		)	—			—			—		(251		)
Net cash used in financing activities	(11,309		)	—			—			—		(11,309		)
Effect of exchange rate changes	—			—			710			—		710
Increase (decrease) in cash and cash equivalents	49,261			(15,217		)	2,627			—		36,671
Cash and cash equivalents at beginning of period	1,414			16,955			40,883			—		59,252
Cash and cash equivalents at end of period	$	50,675		$	1,738		$	43,510		$	—	$	95,923