Macy's 2009 Annual Report Download - page 100

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2009
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
Cash flows from operating activities:
Net income (loss) ....................... $ 350 $(142) $ 704 $(562) $ 350
Division consolidation costs .............. – 112 164 – 276
Asset impairment charges ................ – 114 1 – 115
Equity in earnings of subsidiaries .......... (355) (207) – 562 –
Dividends received from subsidiaries ....... 436 60 – (496) –
Depreciation and amortization ............. – 619 591 – 1,210
(Increase) decrease in working capital ....... 114 163 (245) – 32
Other, net ............................. 73 (118) (188) – (233)
Net cash provided by operating
activities ........................ 618 601 1,027 (496) 1,750
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net ............... – (147) (227) – (374)
Other, net ............................. – – (3) – (3)
Net cash used by investing activities .... – (147) (230) – (377)
Cash flows from financing activities:
Debt repaid ............................ – (963) (3) – (966)
Dividends paid ......................... (84) – (496) 496 (84)
Issuance of common stock, net of common
stock acquired ....................... 7 – – – 7
Intercompany activity, net ................ (246) 498 (252) – –
Other, net ............................. (24) 3 (8) – (29)
Net cash used by financing activities .... (347) (462) (759) 496 (1,072)
Net increase (decrease) in cash and cash
equivalents .............................. 271 (8) 38 – 301
Cash and cash equivalents at beginning of
period .................................. 1,047 68 270 – 1,385
Cash and cash equivalents at end of period ....... $1,318 $ 60 $ 308 $ – $ 1,686
F-52