Macy's 2008 Annual Report Download - page 99

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2008
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
Cash flows from continuing operating activities:
Net loss ................................... $(4,803) $(5,264) $(1,424) $ 6,688 $(4,803)
Division consolidation costs ................... – 126 61 – 187
Asset impairment charges ..................... – 98 113 – 211
Goodwill impairment charges ................. – 3,243 2,139 – 5,382
Equity in losses of subsidiaries ................. 4,809 1,879 – (6,688) –
Dividends received from subsidiaries ........... 800 45 – (845) –
Depreciation and amortization ................. – 689 589 – 1,278
(Increase) decrease in working capital ........... (35) 157 (289) – (167)
Other, net ................................. (94) (572) 457 – (209)
Net cash provided by continuing operating
activities ............................ 677 401 1,646 (845) 1,879
Cash flows from continuing investing activities:
Purchase of property and equipment and capitalized
software, net ............................. – (224) (567) – (791)
Net cash used by continuing investing
activities ............................ – (224) (567) – (791)
Cash flows from continuing financing activities:
Debt repaid, net of debt issued ................. – (13) (3) – (16)
Dividends paid ............................. (221) (245) (600) 845 (221)
Issuance of common stock, net of common stock
acquired ................................ 6 – – – 6
Intercompany activity, net .................... 332 106 (438) – –
Other, net ................................. (82) (32) (20) – (134)
Net cash provided (used) by continuing
financing activities .................... 35 (184) (1,061) 845 (365)
Net increase (decrease) in cash and cash equivalents . . . 712 (7) 18 – 723
Cash and cash equivalents at beginning of period ...... 335 75 173 – 583
Cash and cash equivalents at end of period ........... $1,047 $ 68 $ 191 $ – $ 1,306
F-51