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2012 BROWN SHOE COMPANY, INC. FORM 10-K 79
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
($ thousands) Parent Guarantors Non-Guarantors Eliminations Total
Net earnings (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 27,491 $ 65,160 $ 22,792 $ (88,239) $ 27,204
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment . . . . . . . . . . . . . – 475 – – 475
Pension and other postretirement benefits adjustments . . . . (8,871) (190) – – (9,061)
Unrealized loss on derivative financial instruments, net of tax . . (49) (353) – – (402)
Net loss from derivatives reclassified into earnings, net of tax . 183 64 – – 247
Other comprehensive loss, net of tax. . . . . . . . . . . . . . . . . . (8,737) (4) – – (8,741)
Comprehensive income (loss) . . . . . . . . . . . . . . . . . . . . . 18,754 65,156 22,792 (88,239) 18,463
Comprehensive loss attributable to noncontrolling interest . . . . . – – (275) – (275)
Comprehensive income (loss) attributable
to Brown Shoe Company, Inc. . . . . . . . . . . . . . . . . . . . $ 18,754 $ 65,156 $ 23,067 $ (88,239) $ 18,738
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
($ thousands) Parent Guarantors Non-Guarantors Eliminations Total
Net cash provided by (used for) operating activities . . . . . . . $ 53,628 $ 110,422 $ 33,887 $ – $ 197,937
Investing activities
Purchases of property and equipment . . . . . . . . . . . . . . . (10,132) (43,711) (1,958) – (55,801)
Capitalized software . . . . . . . . . . . . . . . . . . . . . . . . . (7,925) – (3) – (7,928)
Acquisition cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . – (5,000) – – (5,000)
Net cash used for investing activities. . . . . . . . . . . . . . . . (18,057) (48,711) (1,961) – (68,729)
Financing activities
Borrowings under revolving credit agreement . . . . . . . . . . 805,000 – – – 805,000
Repayments under revolving credit agreement . . . . . . . . . . (901,000) – – – (901,000)
Intercompany financing . . . . . . . . . . . . . . . . . . . . . . . 77,582 (64,083) (13,499) – –
Dividends paid . . . . . . . . . . . . . . . . . . . . . . . . . . . . (12,011) – – – (12,011)
Issuance of common stock under share-based plans, net . . . . (1,700) – – – (1,700)
Tax benefit related to share-based plans. . . . . . . . . . . . . . 944 – – – 944
Net cash used for financing activities. . . . . . . . . . . . . . . . (31,185) (64,083) (13,499) – (108,767)
Eect of exchange rate changes on cash and cash equivalents . – 100 – – 100
Increase (decrease) in cash and cash equivalents . . . . . . . . . 4,386 (2,272) 18,427 – 20,541
Cash and cash equivalents at beginning of period . . . . . . . . (4,386) 34,332 17,736 – 47,682
Cash and cash equivalents at end of period . . . . . . . . . . . . $ – $ 32,060 $ 36,163 $ – $ 68,223
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JANUARY 28, 2012
($ thousands) Parent Guarantors Non-Guarantors Eliminations Total
Assets
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . $ (4,386) $ 34,332 $ 17,736 $ – $ 47,682
Receivables. . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,129 24,082 51,811 – 154,022
Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129,776 418,264 13,757 – 561,797
Prepaid expenses and other current assets . . . . . . . . . . 35,625 14,685 1,327 – 51,637
Total current assets. . . . . . . . . . . . . . . . . . . . . . . . . . 239,144 491,363 84,631 – 815,138
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 115,515 23,844 918 – 140,277
Goodwill and intangible assets, net . . . . . . . . . . . . . . 47,765 16,160 76,665 – 140,590
Property and equipment, net . . . . . . . . . . . . . . . . . . 23,621 97,887 9,963 – 131,471
Investment in subsidiaries . . . . . . . . . . . . . . . . . . . 813,602 68,057 – (881,659) –
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,239,647 $ 697,311 $ 172,177 $ (881,659) $ 1,227,476
Liabilities and Equity
Current liabilities:
Borrowings under revolving credit agreement . . . . . . . . $ 201,000 $ – $ – $ – $ 201,000
Trade accounts payable . . . . . . . . . . . . . . . . . . . . . 49,238 92,431 48,942 – 190,611
Other accrued expenses . . . . . . . . . . . . . . . . . . . . 60,079 65,676 7,214 – 132,969
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . 310,317 158,107 56,156 – 524,580
Other liabilities:
Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . 198,633 – – – 198,633
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . 29,702 46,717 14,128 – 90,547
Intercompany payable (receivable) . . . . . . . . . . . . . . 288,326 (321,11 5) 32,789 – –
Total other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . 516,661 (274,398) 46,917 – 289,180
Equity:
Brown Shoe Company, Inc. shareholders’ equity . . . . . . . 412,669 813,602 68,057 (881,659) 412,669
Noncontrolling interests. . . . . . . . . . . . . . . . . . . . . – – 1,047 – 1,047
Total equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 412,669 813,602 69,104 (881,659) 413,716
Total liabilities and equity . . . . . . . . . . . . . . . . . . . . . . $ 1,239,647 $ 697,311 $ 172,177 $ (881,659) $ 1,227,476