Macy's 2012 Annual Report Download - page 98

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-51
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2010
(millions)
Parent Subsidiary
Issuer Other
Subsidiaries Consolidating
Adjustments Consolidated
Cash flows from operating activities:
Net income............................................................ $ 847 $ 320 $ 949 $ (1,269) $ 847
Impairments, store closing costs and
gain on sale of leases......................................... — 21 4 — 25
Equity in earnings of subsidiaries......................... (852)(417) — 1,269 —
Dividends received from subsidiaries................... 541 250 — (791) —
Depreciation and amortization.............................. — 566 584 — 1,150
(Increase) decrease in working capital ................. 179 (454) 232 — (43)
Other, net .............................................................. 8(526) 45 — (473)
Net cash provided (used) by
operating activities..................................... 723 (240) 1,814 (791) 1,506
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net.................................... —(178)(247) — (425)
Other, net .............................................................. — — (40) — (40)
Net cash used by investing activities............. —(178)(287) — (465)
Cash flows from financing activities:
Debt repaid............................................................ —(1,242)(3) — (1,245)
Dividends paid...................................................... (84) — (791) 791 (84)
Issuance of common stock, net of
common stock acquired .................................... 42———42
Intercompany activity, net .................................... (710) 1,656 (946) — —
Other, net .............................................................. (115)(15) 154 — 24
Net cash provided (used) by
financing activities..................................... (867) 399 (1,586) 791 (1,263)
Net decrease in cash and cash equivalents................... (144)(19)(59) — (222)
Cash and cash equivalents at beginning of period....... 1,318 60 308 — 1,686
Cash and cash equivalents at end of period ................. $ 1,174 $ 41 $ 249 $ — $ 1,464