Famous Footwear 2013 Annual Report Download - page 82

80 2013 BROWN SHOE COMPANY, INC. FORM 10-K
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
FOR THE FISCAL YEAR ENDED FEBRUARY 2, 2013
($ thousands) Parent Guarantors Non-Guarantors Eliminations Total
Net earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 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,
net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,871) (190) – – (9,061)
Derivative financial instruments, net of tax . . . . . . . . . . . . 134 (289) – – (155)
Other comprehensive loss from investment in subsidiaries,
net of tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16) (12) – 28 –
Other comprehensive loss, net of tax. . . . . . . . . . . . . . . . . . (8,753) (16) – 28 (8,741)
Comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . 18,738 65,144 22,792 (88,211) 18,463
Comprehensive loss attributable to noncontrolling interests. . . . . – – (275) – (275)
Comprehensive income attributable
to Brown Shoe Company, Inc. . . . . . . . . . . . . . . . . . . . $ 18,738 $ 65,144 $ 23,067 $ (88,211) $ 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 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 year. . . . . . . . . . (4,386) 34,332 17,736 – 47,682
Cash and cash equivalents at end of year . . . . . . . . . . . . . $ – $ 32,060 $ 36,163 $ – $ 68,223
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS
FOR THE FISCAL YEAR ENDED JANUARY 28, 2012
($ thousands) Parent Guarantors Non-Guarantors Eliminations Total
Net sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 641,037 $ 1,759,105 $ 219,939 $ (185,315) $ 2,434,766
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . 488,406 986,079 181,100 (185,315) 1,470,270
Gross profit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152,631 773,026 38,839 – 964,496
Selling and administrative expenses . . . . . . . . . . . . . . . . 163,965 694,821 51,507 – 910,293
Restructuring and other special charges, net . . . . . . . . . . . 20,308 3,363 – – 23,671
Operating (loss) earnings . . . . . . . . . . . . . . . . . . . . . . (31,642) 74,842 (12,668) – 30,532
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . (25,400) (633) 605 – (25,428)
Loss on early extinguishment of debt . . . . . . . . . . . . . . . (1,003) – – – (1,003)
Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 163 396 – 569
Intercompany interest income (expense) . . . . . . . . . . . . . 15,714 (15,098) (616) – –
(Loss) earnings before income taxes
from continuing operations . . . . . . . . . . . . . . . . . . . (42,321) 59,274 (12,283) – 4,670
Income tax benefit (provision) . . . . . . . . . . . . . . . . . . . 14,144 (11,705) (1,018) – 1,421
Equity in earnings (loss) from continuing operations
of subsidiaries, net of tax . . . . . . . . . . . . . . . . . . . . 34,467 (13,102) – (21,365) –
Net earnings (loss) from continuing operations . . . . . . . . . . 6,290 34,467 (13,301) (21,365) 6,091
Discontinued operations:
Earnings (loss) from discontinued operations, net of tax. . . . . 3,104 2,741 (1,511) – 4,334
Disposition/impairment of discontinued operations, net of tax . – 13,965 – – 13,965
Equity in earnings (loss) from discontinued operations
of subsidiaries, net of tax . . . . . . . . . . . . . . . . . . . . 15,195 (1,511) – (13,684) –
Net earnings (loss) from discontinued operations . . . . . . . . 18,299 15,195 (1,511) (13,684) 18,299
Net earnings (loss) . . . . . . . . . . . . . . . . . . . . . . . . . . 24,589 49,662 (14,812) (35,049) 24,390
Net loss attributable to noncontrolling interests . . . . . . . . . – – (199) – (199)
Net earnings (loss) attributable to Brown Shoe Company, Inc. . $ 24,589 $ 49,662 $ (14,613) $ (35,049) $ 24,589