Macy's 2015 Annual Report Download - page 64

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-15
In April 2015, the FASB issued ASU No. 2015-04, Compensation - Retirement Benefits (Topic 715), which provides
a practical expedient that permits an entity with a fiscal year-end that does not coincide with a month-end to measure
defined benefit plan assets and obligations using the month-end that is closest to the entity's fiscal year-end and apply that
practical expedient consistently from year to year. This guidance is effective for public business entities for years beginning
after December 15, 2015. Earlier application is permitted, and the Company has adopted this guidance as of January 30,
2016. The adoption of ASU 2015-04 did not have a material impact on the Company's consolidated financial position,
results of operations, and cash flows.
Also in April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), which is
intended to simplify the presentation of debt issuance costs. This guidance requires debt issuance costs related to a
recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt
liability, consistent with debt discounts. This guidance is effective for public business entities for years beginning after
December 15, 2015. Earlier adoption is permitted, and the Company has adopted this guidance as of January 30, 2016. The
adoption of ASU 2015-03 did not have a material impact on the Company's consolidated financial position, results of
operations, and cash flows.