Macy's 2009 Annual Report Download - page 103

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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 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 (302) – (180)
Other, net ............................ (94) (572) 457 – (209)
Net cash provided by operating
activities ....................... 677 401 1,633 (845) 1,866
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net ............... – (224) (567) – (791)
Other, net ............................ – – (1) – (1)
Net cash used by investing activities . . . – (224) (568) – (792)
Cash flows from 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 financing
activities ....................... 35 (184) (1,061) 845 (365)
Net increase (decrease) in cash and cash
equivalents ............................. 712 (7) 4 – 709
Cash and cash equivalents at beginning of
period ................................. 335 75 266 – 676
Cash and cash equivalents at end of period ...... $1,047 $ 68 $ 270 $ – $ 1,385
F-55