Macy's 2009 Annual Report Download - page 101

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 31, 2009
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents ................ $1,047 $ 68 $ 270 $ – $ 1,385
Receivables ........................... 2 69 289 – 360
Merchandise inventories ................. – 2,593 2,176 – 4,769
Supplies and prepaid expenses ............ – 121 105 – 226
Income taxes .......................... 121 – – (121) –
Deferred income tax assets ............... – – 22 (22) –
Total Current Assets ................ 1,170 2,851 2,862 (143) 6,740
Property and Equipment – net ................. – 5,898 4,544 – 10,442
Goodwill ................................. – 3,315 428 – 3,743
Other Intangible Assets – net .................. – 250 469 – 719
Other Assets ............................... 3 84 414 – 501
Deferred Income Tax Assets .................. 119 – – (119) –
Intercompany Receivable .................... 541 – 2,090 (2,631) –
Investment in Subsidiaries .................... 3,030 2,791 – (5,821) –
Total Assets ....................... $4,863 $15,189 $10,807 $(8,714) $22,145
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt ........................ $ – $ 963 $ 3 $ – $ 966
Merchandise accounts payable ............ – 595 687 – 1,282
Accounts payable and accrued liabilities ..... 143 1,336 1,149 – 2,628
Income taxes .......................... – 23 126 (121) 28
Deferred income taxes ................... 10 234 – (22) 222
Total Current Liabilities .............. 153 3,151 1,965 (143) 5,126
Long-Term Debt ........................... – 8,706 27 – 8,733
Intercompany Payable ....................... – 2,631 – (2,631) –
Deferred Income Taxes ...................... – 363 875 (119) 1,119
Other Liabilities ............................ 64 1,139 1,318 – 2,521
Shareholders’ Equity (Deficit) ................. 4,646 (801) 6,622 (5,821) 4,646
Total Liabilities and
Shareholders’ Equity .............. $4,863 $15,189 $10,807 $(8,714) $22,145
F-53