Macy's 2010 Annual Report Download - page 105

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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 .............................. $(4,775) $(5,235) $(1,426) $ 6,661 $(4,775)
Impairments, store closing costs and
division consolidation costs ............ – 224 174 398
Goodwill impairment charges ............ 3,243 2,139 5,382
Equity in losses of subsidiaries ............ 4,781 1,880 (6,661)
Dividends received from subsidiaries ...... 800 45 (845) –
Depreciation and amortization ............ – 689 589 1,278
(Increase) decrease in working capital ...... (35) 174 (320) (181)
Other, net ............................ (94) (617) 475 (236)
Net cash provided by
operating activities ............... 677 403 1,631 (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 ............... 332 104 (436) –
Other, net ............................ (82) (32) (20) (134)
Net cash provided (used) by
financing activities ............... 35 (186) (1,059) 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-57