Macy's 2008 Annual Report Download - page 100

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of February 2, 2008
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents ........... $ 335 $ 75 $ 173 $ – $ 583
Receivables ...................... – 68 395 – 463
Merchandise inventories ............ – 2,704 2,356 – 5,060
Supplies and prepaid expenses ....... – 118 100 – 218
Income taxes ..................... 21 – – (21) –
Deferred income tax assets .......... – – 7 (7) –
Total Current Assets ........... 356 2,965 3,031 (28) 6,324
Property and Equipment – net ............ 3 6,292 4,696 – 10,991
Goodwill ............................ – 6,564 2,569 – 9,133
Other Intangible Assets – net ............. – 290 541 – 831
Other Assets .......................... 4 155 351 – 510
Deferred Income Tax Assets ............. 22 – – (22) –
Intercompany Receivable ............... 1,045 – 1,412 (2,457) –
Investment in Subsidiaries ............... 8,707 4,805 – (13,512) –
Total Assets .................. $10,137 $21,071 $12,600 $(16,019) $27,789
LIABILITIES AND SHAREHOLDERS’
EQUITY:
Current Liabilities:
Short-term debt ................... $ – $ 664 $ 2 $ – $ 666
Merchandise accounts payable ....... – 519 879 – 1,398
Accounts payable and accrued
liabilities ....................... 159 1,361 1,209 – 2,729
Income taxes ..................... – 11 354 (21) 344
Deferred income taxes .............. – 230 – (7) 223
Total Current Liabilities ......... 159 2,785 2,444 (28) 5,360
Long-Term Debt ...................... – 9,058 29 – 9,087
Intercompany Payable .................. – 2,457 – (2,457) –
Deferred Income Taxes ................. – 882 586 (22) 1,446
Other Liabilities ....................... 71 877 1,041 – 1,989
Shareholders’ Equity ................... 9,907 5,012 8,500 (13,512) 9,907
Total Liabilities and Shareholders’
Equity ..................... $10,137 $21,071 $12,600 $(16,019) $27,789
F-52