Macy's 2012 Annual Report Download - page 88

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-41
Accumulated Other Comprehensive Loss
The following tables shows for 2012, 2011 and 2010 the beginning and ending balance of, and the activity associated
with, accumulated other comprehensive loss, net of income tax effects:
Unrealized
Gains on
Marketable
Securities
Post
Employment
and
Postretirement
Benefit Plans
Total
Accumulated
Other
Comprehensive
(Income) Loss
(millions)
Balance at January 30, 2010........................................................... $(5) $ 758 $ 753
Other comprehensive income ......................................................... (5)(18)(23)
Balance at January 29, 2011........................................................... (10) 740 730
Other comprehensive loss............................................................... 10 321 331
Balance at January 28, 2012........................................................... — 1,061 1,061
Other comprehensive income ......................................................... —(130)(130)
Balance at February 2, 2013........................................................... $ — $ 931 $ 931
On February 25, 2011, the Company sold its investment in The Knot, Inc. and unrecognized gains in accumulated other
comprehensive income were reclassified and recognized into SG&A in the Consolidated Statements of Income.
13. Fair Value Measurements and Concentrations of Credit Risk
The following table shows the Company’s financial assets that are required to be measured at fair value on a recurring
basis, by level within the hierarchy as defined by applicable accounting standards:
February 2, 2013 January 28, 2012
Fair Value Measurements Fair Value Measurements
Total
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3) Total
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
Significant
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
(millions)
Marketable equity and
debt securities......... $ 68 $ — $ 68 $ — $ 81 $ — $ 81 $ —
Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, receivables,
short-term debt, merchandise accounts payable, accounts payable and accrued liabilities and long-term debt. With the exception
of long-term debt, the carrying amount approximates fair value because of the short maturity of these instruments. The fair
values of long-term debt, excluding capitalized leases, are generally estimated based on quoted market prices for identical or
similar instruments, and are classified as Level 2 measurements within the hierarchy as defined by applicable accounting
standards.
The following table shows the estimated fair value of the Company’s long-term debt:
February 2, 2013 January 28, 2012
Notional
Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value
(millions)
Long-term debt............................................................. $ 6,583 $ 6,774 $ 7,351 $ 6,404 $ 6,620 $ 7,343