Macy's 2010 Annual Report Download - page 98

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
MACY’S, INC.
Condensed Consolidating Balance Sheet
As of January 29, 2011
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
ASSETS:
Current Assets:
Cash and cash equivalents ............... $1,174 $ 41 $ 249 $ – $ 1,464
Receivables .......................... – 89 303 – 392
Merchandise inventories ................ – 2,589 2,169 – 4,758
Prepaid expenses and other current assets . . . – 98 187 – 285
Income taxes ......................... – – – – –
Deferred income tax assets .............. – – – – –
Total Current Assets ............... 1,174 2,817 2,908 – 6,899
Property and Equipment – net ................ – 5,013 3,800 – 8,813
Goodwill ................................ – 3,315 428 – 3,743
Other Intangible Assets – net ................. – 184 453 – 637
Other Assets .............................. 4 133 402 – 539
Deferred Income Tax Assets ................. 19 – – (19) –
Intercompany Receivable ................... 1,651 – 2,738 (4,389) –
Investment in Subsidiaries ................... 2,908 2,598 – (5,506) –
Total Assets ...................... $5,756 $14,060 $10,729 $(9,914) $20,631
LIABILITIES AND SHAREHOLDERS’ EQUITY:
Current Liabilities:
Short-term debt ....................... $ – $ 451 $ 3 $ – $ 454
Merchandise accounts payable ........... – 680 741 – 1,421
Accounts payable and accrued liabilities .... 144 1,069 1,431 – 2,644
Income taxes ......................... 29 18 135 – 182
Deferred income taxes .................. – 285 79 – 364
Total Current Liabilities ............. 173 2,503 2,389 – 5,065
Long-Term Debt .......................... – 6,942 29 – 6,971
Intercompany Payable ...................... – 4,389 – (4,389) –
Deferred Income Taxes ..................... – 400 864 (19) 1,245
Other Liabilities ........................... 53 748 1,019 – 1,820
Shareholders’ Equity (Deficit) ................ 5,530 (922) 6,428 (5,506) 5,530
Total Liabilities and
Shareholders’ Equity ............. $5,756 $14,060 $10,729 $(9,914) $20,631
F-50