Macy's 2010 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 30, 2010
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents ............... $1,318 $ 60 $ 308 $ – $ 1,686
Receivables .......................... – 82 276 – 358
Merchandise inventories ................ – 2,536 2,079 – 4,615
Prepaid expenses and other current assets . . . – 98 125 – 223
Income taxes ......................... 7 – – (7) –
Deferred income tax assets .............. – – 54 (54) –
Total Current Assets ............... 1,325 2,776 2,842 (61) 6,882
Property and Equipment – net ................ – 5,383 4,124 – 9,507
Goodwill ................................ – 3,315 428 – 3,743
Other Intangible Assets – net ................. – 217 461 – 678
Other Assets .............................. 4 123 363 – 490
Deferred Income Tax Assets ................. 113 – – (113) –
Intercompany Receivable ................... 895 – 2,185 (3,080) –
Investment in Subsidiaries ................... 2,574 2,790 – (5,364) –
Total Assets ...................... $4,911 $14,604 $10,403 $(8,618) $21,300
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt ....................... $ – $ 239 $ 3 $ – $ 242
Merchandise accounts payable ........... – 637 675 – 1,312
Accounts payable and accrued liabilities .... 117 1,529 980 – 2,626
Income taxes ......................... – 4 71 (7) 68
Deferred income taxes .................. 93 175 – (54) 214
Total Current Liabilities ............. 210 2,584 1,729 (61) 4,462
Long-Term Debt .......................... – 8,432 24 – 8,456
Intercompany Payable ...................... – 3,080 – (3,080) –
Deferred Income Taxes ..................... – 635 610 (113) 1,132
Other Liabilities ........................... 48 1,137 1,412 – 2,597
Shareholders’ Equity (Deficit) ................ 4,653 (1,264) 6,628 (5,364) 4,653
Total Liabilities and
Shareholders’ Equity ............. $4,911 $14,604 $10,403 $(8,618) $21,300
F-53