Macy's 2015 Annual Report Download - page 99

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-50
MACY’S, INC.
Condensed Consolidating Statement of Cash Flows
For 2015
(millions)
Parent
Subsidiary
Issuer
Other
Subsidiaries
Consolidating
Adjustments Consolidated
Cash flows from operating activities:
Net income....................................................... $ 1,072 $ 89 $ 1,402 $ (1,493) $ 1,070
Impairments, store closing and other costs...... — 170 118 — 288
Equity in earnings of subsidiaries.................... (1,072) (421) — 1,493 —
Dividends received from subsidiaries.............. 1,086 — — (1,086) —
Depreciation and amortization......................... — 440 621 — 1,061
(Increase) decrease in working capital............. 25 (340)(81) — (396)
Other, net.......................................................... (8) (78) 47 — (39)
Net cash provided (used) by
operating activities ................................ 1,103 (140) 2,107 (1,086) 1,984
Cash flows from investing activities:
Purchase of property and equipment and
capitalized software, net............................... —(88)(821) — (909)
Other, net.......................................................... — 83 (266) — (183)
Net cash used by investing activities ........ —(5)(1,087) — (1,092)
Cash flows from financing activities:
Debt issued, net of debt repaid......................... — 348 (1) — 347
Dividends paid ................................................. (456) — (1,086) 1,086 (456)
Common stock acquired, net of
issuance of common stock............................ (1,838) — — — (1,838)
Proceeds from noncontrolling interest............. — — 5 — 5
Intercompany activity, net................................ 12 (243) 231 — —
Other, net.......................................................... 12 37 (136) — (87)
Net cash provided (used) by
financing activities ............................... (2,270) 142 (987) 1,086 (2,029)
Net increase (decrease) in cash
and cash equivalents.......................................... (1,167) (3) 33 — (1,137)
Cash and cash equivalents at
beginning of period ........................................... 1,908 94 244 — 2,246
Cash and cash equivalents at
end of period ..................................................... $ 741 $ 91 $ 277 $ — $ 1,109