Macy's 2011 Annual Report Download - page 90

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-50
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2009
(millions)
Parent Subsidiary
Issuer Other
Subsidiaries Consolidating
Adjustments Consolidated
Cash flows from operating activities:
Net income (loss).................................................. $ 329 $ (165) $ 699 $ (534) $ 329
Gain on sale of properties, impairments, store
closing costs and division consolidation costs.. — 226 165 — 391
Equity in earnings of subsidiaries......................... (333)(201) — 534 —
Dividends received from subsidiaries................... 436 60 — (496) —
Depreciation and amortization.............................. — 619 591 — 1,210
(Increase) decrease in working capital ................. 114 163 (245) — 32
Other, net .............................................................. 73 (96)(189) — (212)
Net cash provided by operating activities ..... 619 606 1,021 (496) 1,750
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net.................................... —(147)(227) — (374)
Other, net .............................................................. — — (3) — (3)
Net cash used by investing activities............. —(147)(230) — (377)
Cash flows from financing activities:
Debt repaid............................................................ —(963)(3) — (966)
Dividends paid...................................................... (84) — (496) 496 (84)
Issuance of common stock, net of common stock
acquired............................................................. 7——— 7
Intercompany activity, net .................................... (247) 493 (246) — —
Other, net .............................................................. (24) 3 (8) — (29)
Net cash used by financing activities ............ (348)(467)(753) 496 (1,072)
Net increase (decrease) in cash and cash equivalents.. 271 (8) 38 — 301
Cash and cash equivalents at beginning of period....... 1,047 68 270 — 1,385
Cash and cash equivalents at end of period ................. $ 1,318 $ 60 $ 308 $ — $ 1,686