Macy's 2015 Annual Report Download - page 102

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-53
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2014
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
Cash flows from operating activities:
Net income..................................................... $ 1,526 $ 563 $ 1,589 $ (2,152) $ 1,526
Impairments, store closing and other costs.... — 45 42 — 87
Equity in earnings of subsidiaries.................. (1,528) (624) — 2,152 —
Dividends received from subsidiaries ........... 1,088 1 — (1,089) —
Depreciation and amortization ...................... — 454 582 — 1,036
(Increase) decrease in working capital .......... 9 74 (69) — 14
Other, net ....................................................... (20) (177) 243 — 46
Net cash provided by
operating activities ................................ 1,075 336 2,387 (1,089) 2,709
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net............................. —(260)(636) — (896)
Other, net ....................................................... —(12)(62) — (74)
Net cash used by
investing activities .............................. —(272)(698) — (970)
Cash flows from financing activities:
Debt issued, net of debt repaid ...................... — 177 (3) — 174
Dividends paid............................................... (421) — (1,089) 1,089 (421)
Common stock acquired, net of
issuance of common stock ......................... (1,643) — — — (1,643)
Proceeds from noncontrolling interest........... —————
Intercompany activity, net ............................. 927 (283)(644) — —
Other, net ....................................................... 15 52 57 — 124
Net cash used by financing activities ..... (1,122) (54)(1,679) 1,089 (1,766)
Net increase (decrease) in
cash and cash equivalents ................................. (47) 10 10 — (27)
Cash and cash equivalents at
beginning of period ........................................... 1,955 84 234 — 2,273
Cash and cash equivalents at
end of period ..................................................... $ 1,908 $ 94 $ 244 $ — $ 2,246