Macy's (M) 10-Q 3 Jun 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2016	May. 28, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	M
Entity Registrant Name	Macy's, Inc.
Entity Central Index Key	794,367
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		308,395,235

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Income Statement [Abstract]
Net sales	$ 5,771	$ 6,232
Cost of sales	(3,516)	(3,800)
Gross margin	2,255	2,432
Selling, general and administrative expenses	(1,966)	(2,023)
Settlement charges	13	0
Operating income (loss)	276	409
Interest expense	(99)	(95)
Interest income	1	0
Income (loss) before income taxes	178	314
Federal, state and local income tax expense	(63)	(121)
Net income (loss)	115	193
Net loss attributable to noncontrolling interest	1	0
Net income (loss) attributable to Macy's, Inc. shareholders	$ 116	$ 193
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.37	$ 0.57
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.37	$ 0.56

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Net income (loss)	$ 115	$ 193
Actuarial loss on postretirement benefit plans, before tax	(36)	0
Settlement charges, before tax	13	0
Amortization of net actuarial loss on post employment and postretirement benefit plans, before tax	9	13
Tax effect related to items of other comprehensive income	(6)	5
Total other comprehensive income, net of tax effect	(8)	8
Comprehensive income (loss)	107	201
Comprehensive loss attributable to noncontrolling interest	1	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ 108	$ 201

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015	Jan. 31, 2015
Current Assets:
Cash and cash equivalents	$ 734	$ 1,109	$ 1,509	$ 2,246
Receivables	436	558	259
Merchandise inventories	5,738	5,506	5,929
Income tax receivable	19	0	0
Prepaid expenses and other current assets	490	479	471
Total Current Assets	7,417	7,652	8,168
Property and Equipment - net	7,475	7,616	7,712
Goodwill	3,897	3,897	3,897
Other Intangible Assets - net	511	514	531
Other Assets	898	897	710
Total Assets	20,198	20,576	21,018
Current Liabilities:
Short-term debt	642	642	76
Merchandise accounts payable	2,052	1,526	2,386
Accounts payable and accrued liabilities	2,690	3,333	2,411
Income taxes	0	227	74
Total Current Liabilities	5,384	5,728	4,947
Long-Term Debt	6,990	6,995	7,229
Deferred Income Taxes	1,536	1,477	1,456
Other Liabilities	2,134	2,123	2,179
Shareholders' Equity, Macy's, Inc.	4,148	4,250	5,207
Shareholders' Equity, noncontrolling interest	6	3	0
Total Shareholders’ Equity	4,154	4,253	5,207
Total Liabilities and Shareholders' Equity	$ 20,198	$ 20,576	$ 21,018

Consolidated Balance Sheets (pa

Consolidated Balance Sheets (parenthetical) - USD ($) $ in Millions	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Accumulated depreciation	$ 5,500	$ 5,319	$ 5,784

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Net income (loss)	$ 115	$ 193
Adjustments to reconcile net income to net cash provided by operating activities:
Settlement charges	13	0
Depreciation and amortization	260	259
Stock-based compensation expense	16	18
Amortization of financing costs and premium on acquired debt	(1)	(1)
Changes in assets and liabilities:
Decrease in receivables	122	167
Increase in merchandise inventories	(232)	(483)
Increase in prepaid expenses and other current assets	(22)	(42)
Increase in other assets not separately identified	0	0
Increase in merchandise accounts payable	461	691
Decrease in accounts payable, accrued liabilities and other items not separately identified	(513)	(513)
Decrease in current income taxes	(246)	(222)
Increase (decrease) in deferred income taxes	53	(6)
Decrease in other liabilities not separately identified	(18)	(8)
Net cash provided (used) by operating activities	8	53
Cash flows from investing activities:
Purchase of property and equipment	(153)	(180)
Capitalized software	(75)	(63)
Acquisition of Bluemercury, Inc., net of cash acquired	0	(212)
Disposition of property and equipment	16	4
Other, net	1	70
Net cash used by investing activities	(211)	(381)
Cash flows from financing activities:
Debt repaid	(3)	(3)
Dividends paid	(112)	(106)
Increase (decrease) in outstanding checks	43	(41)
Acquisition of treasury stock	(130)	(359)
Issuance of common stock	26	100
Proceeds from noncontrolling interest	4	0
Net cash provided (used) by financing activities	(172)	(409)
Net increase (decrease) in cash and cash equivalents	(375)	(737)
Cash and cash equivalents beginning of period	1,109	2,246
Cash and cash equivalents end of period	734	1,509
Supplemental cash flow information:
Interest paid	80	81
Interest received	1	0
Income taxes paid (net of refunds received)	$ 257	$ 314

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Nature of Operations Macy's, Inc. and subsidiaries (the "Company") is an omnichannel retail organization operating stores, websites and mobile applications under three brands (Macy's, Bloomingdale's and Bluemercury) that sell a wide range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods. The Company's operations include approximately 870 Macy's, Macy's Backstage, Bloomingdale's, Bloomingdales Outlet and Bluemercury stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. In addition, Bloomingdale's in Dubai, United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. In August 2015, the Company established a joint venture, Macy's China Limited, of which the Company holds a sixty-five percent ownership interest and Hong Kong-based Fung Retailing Limited holds the remaining thirty-five percent ownership interest. Macy's China Limited sells merchandise in China through an e-commerce presence on Alibaba Group's Tmall Global. The Consolidated Financial Statements include the accounts of Macy's, Inc. and its 100%-owned subsidiaries and the newly established majority-owned subsidiary, Macy's China Limited. The noncontrolling interest represents the Fung Retailing Limited's thirty-five percent proportionate share of the results of Macy's China Limited. All intercompany transactions and balances have been eliminated in consolidation. A description of the Company's significant accounting policies is included in the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2016 (the "2015 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2015 10-K. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties, which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 weeks ended April 30, 2016 and May 2, 2015 , in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company. Seasonality Because of the seasonal nature of the retail business, the results of operations for the 13 weeks ended April 30, 2016 and May 2, 2015 (which do not include the Christmas season) are not necessarily indicative of such results for the full fiscal year. Reclassifications Certain reclassifications were made to prior years’ amounts to conform with the classifications of such amounts for the most recent fiscal period. Comprehensive Income Total comprehensive income represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income. For the Company, the only other components of total comprehensive income for the 13 weeks ended April 30, 2016 and May 2, 2015 relate to post employment and postretirement plan items. The settlement charges incurred are included as a separate component of operating expenses in the Consolidated Statements of Income. The amortization reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in selling, general and administrative expenses on the Consolidated Statements of Income. See Note 4, "Benefit Plans," for further information.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Attributable to Macy's, Inc. Shareholders The following table sets forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders: 13 Weeks Ended April 30, 2016 May 2, 2015 Net Income Shares Net Income Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 116 309.7 $ 193 339.8 Shares to be issued under deferred 0.9 0.9 $ 116 310.6 $ 193 340.7 Basic earnings per share attributable to $ .37 $ .57 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 2.9 5.8 $ 116 313.5 $ 193 346.5 Diluted earnings per share attributable to $ .37 $ .56 In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 11.2 million shares of common stock and restricted stock units relating to 1.0 million shares of common stock were outstanding at April 30, 2016 , but were not included in the computation of diluted earnings per share for the 13 weeks ended April 30, 2016 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. In addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 6.5 million shares of common stock and restricted stock units relating to 1.4 million shares of common stock were outstanding at May 2, 2015 , but were not included in the computation of diluted earnings per share for the 13 weeks ended May 2, 2015 because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.

Financing Activities

Financing Activities	3 Months Ended
	Apr. 30, 2016
Financing Activities [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 13 Weeks Ended April 30, 2016 May 2, 2015 (millions) 9.5% amortizing debentures due 2021 $ 2 $ 2 9.75% amortizing debentures due 2021 1 1 $ 3 $ 3 During the 13 weeks ended April 30, 2016 , the Company repurchased approximately 3.0 million shares of its common stock pursuant to existing stock purchase authorizations for a total of approximately $129 million . On February 26, 2016, the Company's Board of Directors approved an additional $1,500 million in authorization to purchase its common stock. As of April 30, 2016 , the Company had $1,903 million of authorization remaining under its share repurchase program. The Company may continue or, from time to time, suspend repurchases of shares under its share repurchase program, depending on prevailing market conditions, alternate uses of capital and other factors. The Company entered into a credit agreement with certain financial institutions on May 6, 2016 providing for revolving credit borrowings and letters of credit in an aggregate amount not to exceed $1,500 million (which may be increased to $1,750 million at the option of the Company, subject to the willingness of existing or new lenders to provide commitments for such additional financing) outstanding at any particular time. This agreement is set to expire May 6, 2021 and replaces the prior agreement which was set to expire May 10, 2018.

Benefit Plans

Benefit Plans	3 Months Ended
	Apr. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
Benefit Plans	Benefit Plans The Company has defined contribution plans which cover substantially all employees who work 1,000 hours or more in a year. In addition, the Company has a funded defined benefit plan ("Pension Plan") and an unfunded defined benefit supplementary retirement plan ("SERP"), which provides benefits, for certain employees, in excess of qualified plan limitations. Effective January 1, 2012, the Pension Plan was closed to new participants, with limited exceptions, and effective January 2, 2012, the SERP was closed to new participants. In February 2013, the Company announced changes to the Pension Plan and SERP whereby eligible employees no longer earn future pension service credits after December 31, 2013, with limited exceptions. All retirement benefits attributable to service in subsequent periods are provided through defined contribution plans. In addition, certain retired employees currently are provided with specified health care and life insurance benefits ("Postretirement Obligations"). Eligibility requirements for such benefits vary, but generally state that benefits are available to eligible employees who were hired prior to a certain date and retire after a certain age with specified years of service. Certain employees are subject to having such benefits modified or terminated. The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended April 30, 2016 May 2, 2015 (millions) 401(k) Defined Contribution Plan $ 24 $ 23 Pension Plan Service cost $ 1 $ 2 Interest cost 28 34 Expected return on assets (56 ) (59 ) Recognition of net actuarial loss 8 10 Amortization of prior service credit — — $ (19 ) $ (13 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 6 8 Recognition of net actuarial loss 2 3 Amortization of prior service cost — — $ 8 $ 11 Total Retirement Expense $ 13 $ 21 Postretirement Obligations Service cost $ — $ — Interest cost 2 2 Recognition of net actuarial gain (1 ) — Amortization of prior service cost — — $ 1 $ 2 During the 13 weeks ended April 30, 2016 , the Company also incurred $13 million of non-cash settlement charges relating to the Company's defined benefit retirement plans. These charges resulted from an increase in lump sum distributions associated with store closings, a voluntary separation program and organizational restructuring, in addition to periodic distribution activity.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2016
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Fair Value Measurements	Fair Value Measurements 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: April 30, 2016 May 2, 2015 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 $ 125 $ — $ 125 $ — $ 104 $ — $ 104 $ — 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: April 30, 2016 May 2, 2015 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,870 $ 6,962 $ 7,113 $ 7,088 $ 7,200 $ 8,020

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Apr. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information Certain debt obligations of the Company, which constitute debt obligations of Macy's Retail Holdings, Inc. ("Subsidiary Issuer"), a 100%-owned subsidiary of Macy's, Inc. ("Parent"), are fully and unconditionally guaranteed by Parent. In the following condensed consolidating financial statements, "Other Subsidiaries" includes all other direct subsidiaries of Parent, including Bluemercury, Inc., FDS Bank, West 34th Street Insurance Company and its subsidiary West 34th Street Insurance Company New York, Macy's Merchandising Corporation, Macy's Merchandising Group, Inc. and its subsidiaries Macy's Merchandising Group (Hong Kong) Limited, Macy's Merchandising Group Procurement, LLC, Macy's Merchandising Group International, LLC, Macy's Merchandising Group International (Hong Kong) Limited, and its majority-owned subsidiary Macy's China Limited. "Subsidiary Issuer" includes operating divisions and non-guarantor subsidiaries of the Subsidiary Issuer on an equity basis. The assets and liabilities and results of operations of the non-guarantor subsidiaries of the Subsidiary Issuer are also reflected in "Other Subsidiaries." Condensed Consolidating Balance Sheets as of April 30, 2016 , May 2, 2015 and January 30, 2016 , the related Condensed Consolidating Statements of Comprehensive Income for the 13 weeks ended April 30, 2016 and May 2, 2015 , and the related Condensed Consolidating Statements of Cash Flows for the 13 weeks ended April 30, 2016 and May 2, 2015 are presented on the following pages. Condensed Consolidating Balance Sheet As of April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 287 $ 112 $ 335 $ — $ 734 Receivables — 158 278 — 436 Merchandise inventories — 2,707 3,031 — 5,738 Income tax receivable 66 — — (47 ) 19 Prepaid expenses and other current assets — 121 369 — 490 Total Current Assets 353 3,098 4,013 (47 ) 7,417 Property and Equipment – net — 3,840 3,635 — 7,475 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 50 461 — 511 Other Assets — 154 744 — 898 Deferred Income Taxes 23 — — (23 ) — Intercompany Receivable — — 3,433 (3,433 ) — Investment in Subsidiaries 4,651 3,810 — (8,461 ) — Total Assets $ 5,027 $ 14,267 $ 12,868 $ (11,964 ) $ 20,198 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 641 $ 1 $ — $ 642 Merchandise accounts payable — 872 1,180 — 2,052 Accounts payable and accrued liabilities 34 1,192 1,464 — 2,690 Income taxes — 9 38 (47 ) — Total Current Liabilities 34 2,714 2,683 (47 ) 5,384 Long-Term Debt — 6,971 19 — 6,990 Intercompany Payable 787 2,646 — (3,433 ) — Deferred Income Taxes — 726 833 (23 ) 1,536 Other Liabilities 58 547 1,529 — 2,134 Shareholders' Equity: Macy's, Inc. 4,148 663 7,798 (8,461 ) 4,148 Noncontrolling Interest — — 6 — 6 Total Shareholders' Equity 4,148 663 7,804 (8,461 ) 4,154 Total Liabilities and Shareholders' Equity $ 5,027 $ 14,267 $ 12,868 $ (11,964 ) $ 20,198 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,454 $ 5,374 $ (2,057 ) $ 5,771 Cost of sales — (1,604 ) (3,969 ) 2,057 (3,516 ) Gross margin — 850 1,405 — 2,255 Selling, general and administrative expenses (1 ) (882 ) (1,083 ) — (1,966 ) Settlement charges — (3 ) (10 ) — (13 ) Operating income (loss) (1 ) (35 ) 312 — 276 Interest (expense) income, net: External 1 (99 ) — — (98 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 116 10 — (126 ) — Income (loss) before income taxes 116 (182 ) 370 (126 ) 178 Federal, state and local income — 61 (124 ) — (63 ) Net income (loss) 116 (121 ) 246 (126 ) 115 Net loss attributable to noncontrolling interest — — 1 — 1 Net income (loss) attributable to $ 116 $ (121 ) $ 247 $ (126 ) $ 116 Comprehensive income (loss) $ 108 $ (129 ) $ 241 $ (113 ) $ 107 Comprehensive loss attributable to — — 1 — 1 Comprehensive income (loss) attributable to $ 108 $ (129 ) $ 242 $ (113 ) $ 108 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 116 $ (121 ) $ 246 $ (126 ) $ 115 Settlement charges — 3 10 — 13 Equity in earnings of subsidiaries (116 ) (10 ) — 126 — Dividends received from subsidiaries 182 — — (182 ) — Depreciation and amortization — 102 158 — 260 (Increase) decrease in working capital (34 ) 55 (451 ) — (430 ) Other, net 19 16 15 — 50 Net cash provided (used) by operating activities 167 45 (22 ) (182 ) 8 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (54 ) (158 ) — (212 ) Other, net — (2 ) 3 — 1 Net cash used by investing activities — (56 ) (155 ) — (211 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (112 ) — (182 ) 182 (112 ) Common stock acquired, net of (104 ) — — — (104 ) Proceeds from noncontrolling interest — — 4 — 4 Intercompany activity, net (415 ) 52 363 — — Other, net 10 (17 ) 50 — 43 Net cash provided (used) by (621 ) 32 235 182 (172 ) Net increase (decrease) in cash (454 ) 21 58 — (375 ) Cash and cash equivalents at beginning of period 741 91 277 — 1,109 Cash and cash equivalents at end of period $ 287 $ 112 $ 335 $ — $ 734 Condensed Consolidating Balance Sheet As of May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,078 $ 115 $ 316 $ — $ 1,509 Receivables — 48 211 — 259 Merchandise inventories — 2,961 2,968 — 5,929 Income tax receivable 43 — — (43 ) — Prepaid expenses and other current assets — 101 370 — 471 Total Current Assets 1,121 3,225 3,865 (43 ) 8,168 Property and Equipment – net — 4,250 3,462 — 7,712 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 68 463 — 531 Other Assets 1 44 665 — 710 Deferred Income Taxes 22 — — (22 ) — Intercompany Receivable — — 3,588 (3,588 ) — Investment in Subsidiaries 4,701 3,549 — (8,250 ) — Total Assets $ 5,845 $ 14,451 $ 12,625 $ (11,903 ) $ 21,018 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 75 $ 1 $ — $ 76 Merchandise accounts payable — 1,139 1,247 — 2,386 Accounts payable and accrued liabilities 13 1,043 1,355 — 2,411 Income taxes — 10 107 (43 ) 74 Total Current Liabilities 13 2,267 2,710 (43 ) 4,947 Long-Term Debt — 7,209 20 — 7,229 Intercompany Payable 564 3,024 — (3,588 ) — Deferred Income Taxes — 744 734 (22 ) 1,456 Other Liabilities 61 543 1,575 — 2,179 Shareholders' Equity: Macy's, Inc. 5,207 664 7,586 (8,250 ) 5,207 Noncontrolling Interest — — — — — Total Shareholders' Equity 5,207 664 7,586 (8,250 ) 5,207 Total Liabilities and Shareholders' Equity $ 5,845 $ 14,451 $ 12,625 $ (11,903 ) $ 21,018 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,776 $ 5,691 $ (2,235 ) $ 6,232 Cost of sales — (1,809 ) (4,226 ) 2,235 (3,800 ) Gross margin — 967 1,465 — 2,432 Selling, general and administrative expenses (1 ) (980 ) (1,042 ) — (2,023 ) Operating income (loss) (1 ) (13 ) 423 — 409 Interest (expense) income, net: External — (95 ) — — (95 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 194 60 — (254 ) — Income (loss) before income taxes 193 (106 ) 481 (254 ) 314 Federal, state and local income — 37 (158 ) — (121 ) Net income (loss) 193 (69 ) 323 (254 ) 193 Net loss attributable to noncontrolling interest — — — — — Net income (loss) attributable to $ 193 $ (69 ) $ 323 $ (254 ) $ 193 Comprehensive income (loss) $ 201 $ (61 ) $ 327 $ (266 ) $ 201 Comprehensive loss attributable to — — — — — Comprehensive income (loss) attributable to $ 201 $ (61 ) $ 327 $ (266 ) $ 201 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 193 $ (69 ) $ 323 $ (254 ) $ 193 Equity in earnings of subsidiaries (194 ) (60 ) — 254 — Dividends received from subsidiaries 191 — — (191 ) — Depreciation and amortization — 106 153 — 259 (Increase) decrease in working capital 43 16 (461 ) — (402 ) Other, net 24 (6 ) (15 ) — 3 Net cash provided (used) by operating 257 (13 ) — (191 ) 53 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (69 ) (170 ) — (239 ) Other, net — 7 (149 ) — (142 ) Net cash used by investing activities — (62 ) (319 ) — (381 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (106 ) — (191 ) 191 (106 ) Common stock acquired, net of (259 ) — — — (259 ) Intercompany activity, net (669 ) 146 523 — — Other, net (53 ) (47 ) 59 — (41 ) Net cash provided (used) by (1,087 ) 96 391 191 (409 ) Net increase (decrease) in cash and (830 ) 21 72 — (737 ) Cash and cash equivalents at beginning of period 1,908 94 244 — 2,246 Cash and cash equivalents at end of period $ 1,078 $ 115 $ 316 $ — $ 1,509 Condensed Consolidating Balance Sheet As of January 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 741 $ 91 $ 277 $ — $ 1,109 Receivables — 217 341 — 558 Merchandise inventories — 2,702 2,804 — 5,506 Income tax receivable 44 — — (44 ) — Prepaid expenses and other current assets — 135 344 — 479 Total Current Assets 785 3,145 3,766 (44 ) 7,652 Property and Equipment – net — 3,925 3,691 — 7,616 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 52 462 — 514 Other Assets — 154 743 — 897 Deferred Income Taxes 14 — — (14 ) — Intercompany Receivable — — 3,800 (3,800 ) — Investment in Subsidiaries 4,725 3,804 — (8,529 ) — Total Assets $ 5,524 $ 14,395 $ 13,044 $ (12,387 ) $ 20,576 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 641 $ 1 $ — $ 642 Merchandise accounts payable — 667 859 — 1,526 Accounts payable and accrued liabilities 35 1,439 1,859 — 3,333 Income taxes — 41 230 (44 ) 227 Total Current Liabilities 35 2,788 2,949 (44 ) 5,728 Long-Term Debt — 6,976 19 — 6,995 Intercompany Payable 1,218 2,582 — (3,800 ) — Deferred Income Taxes — 693 798 (14 ) 1,477 Other Liabilities 21 558 1,544 — 2,123 Shareholders' Equity: Macy's, Inc. 4,250 798 7,731 (8,529 ) 4,250 Noncontrolling Interest — — 3 — 3 Total Shareholders' Equity 4,250 798 7,734 (8,529 ) 4,253 Total Liabilities and Shareholders' Equity $ 5,524 $ 14,395 $ 13,044 $ (12,387 ) $ 20,576

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature Of Operations	Nature of Operations Macy's, Inc. and subsidiaries (the "Company") is an omnichannel retail organization operating stores, websites and mobile applications under three brands (Macy's, Bloomingdale's and Bluemercury) that sell a wide range of merchandise, including apparel and accessories (men's, women's and children's), cosmetics, home furnishings and other consumer goods. The Company's operations include approximately 870 Macy's, Macy's Backstage, Bloomingdale's, Bloomingdales Outlet and Bluemercury stores in 45 states, the District of Columbia, Guam and Puerto Rico, as well as macys.com, bloomingdales.com and bluemercury.com. In addition, Bloomingdale's in Dubai, United Arab Emirates is operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.
Consolidation, Subsidiaries or Other Investments	In August 2015, the Company established a joint venture, Macy's China Limited, of which the Company holds a sixty-five percent ownership interest and Hong Kong-based Fung Retailing Limited holds the remaining thirty-five percent ownership interest. Macy's China Limited sells merchandise in China through an e-commerce presence on Alibaba Group's Tmall Global. The Consolidated Financial Statements include the accounts of Macy's, Inc. and its 100%-owned subsidiaries and the newly established majority-owned subsidiary, Macy's China Limited. The noncontrolling interest represents the Fung Retailing Limited's thirty-five percent proportionate share of the results of Macy's China Limited. All intercompany transactions and balances have been eliminated in consolidation.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions are subject to inherent uncertainties, which may result in actual amounts differing from reported amounts. The Consolidated Financial Statements for the 13 weeks ended April 30, 2016 and May 2, 2015 , in the opinion of management, include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly, in all material respects, the consolidated financial position and results of operations of the Company.
Reclassifications	Reclassifications Certain reclassifications were made to prior years’ amounts to conform with the classifications of such amounts for the most recent fiscal period.
Comprehensive Income	Comprehensive Income Total comprehensive income represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income. For the Company, the only other components of total comprehensive income for the 13 weeks ended April 30, 2016 and May 2, 2015 relate to post employment and postretirement plan items. The settlement charges incurred are included as a separate component of operating expenses in the Consolidated Statements of Income. The amortization reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in selling, general and administrative expenses on the Consolidated Statements of Income. See Note 4, "Benefit Plans," for further information.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders: 13 Weeks Ended April 30, 2016 May 2, 2015 Net Income Shares Net Income Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 116 309.7 $ 193 339.8 Shares to be issued under deferred 0.9 0.9 $ 116 310.6 $ 193 340.7 Basic earnings per share attributable to $ .37 $ .57 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 2.9 5.8 $ 116 313.5 $ 193 346.5 Diluted earnings per share attributable to $ .37 $ .56

Financing Activities Financing

Financing Activities Financing Activites (Tables)	3 Months Ended
	Apr. 30, 2016
Extinguishment of Debt [Line Items]
Detail of Debt Repayments	The following table shows the detail of debt repayments: 13 Weeks Ended April 30, 2016 May 2, 2015 (millions) 9.5% amortizing debentures due 2021 $ 2 $ 2 9.75% amortizing debentures due 2021 1 1 $ 3 $ 3

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Apr. 30, 2016
Pension and Other Postretirement Benefit Expense [Abstract]
Schedule of Costs of Retirement Plans	The defined contribution plan expense and actuarially determined components of the net periodic benefit cost (income) associated with the defined benefit plans are as follows: 13 Weeks Ended April 30, 2016 May 2, 2015 (millions) 401(k) Defined Contribution Plan $ 24 $ 23 Pension Plan Service cost $ 1 $ 2 Interest cost 28 34 Expected return on assets (56 ) (59 ) Recognition of net actuarial loss 8 10 Amortization of prior service credit — — $ (19 ) $ (13 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 6 8 Recognition of net actuarial loss 2 3 Amortization of prior service cost — — $ 8 $ 11 Total Retirement Expense $ 13 $ 21 Postretirement Obligations Service cost $ — $ — Interest cost 2 2 Recognition of net actuarial gain (1 ) — Amortization of prior service cost — — $ 1 $ 2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2016
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]
Fair Value of Assets Measured on a Recurring Basis	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: April 30, 2016 May 2, 2015 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 $ 125 $ — $ 125 $ — $ 104 $ — $ 104 $ —
Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt: April 30, 2016 May 2, 2015 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,870 $ 6,962 $ 7,113 $ 7,088 $ 7,200 $ 8,020

Condensed Consolidating Finan18

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Apr. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of January 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 741 $ 91 $ 277 $ — $ 1,109 Receivables — 217 341 — 558 Merchandise inventories — 2,702 2,804 — 5,506 Income tax receivable 44 — — (44 ) — Prepaid expenses and other current assets — 135 344 — 479 Total Current Assets 785 3,145 3,766 (44 ) 7,652 Property and Equipment – net — 3,925 3,691 — 7,616 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 52 462 — 514 Other Assets — 154 743 — 897 Deferred Income Taxes 14 — — (14 ) — Intercompany Receivable — — 3,800 (3,800 ) — Investment in Subsidiaries 4,725 3,804 — (8,529 ) — Total Assets $ 5,524 $ 14,395 $ 13,044 $ (12,387 ) $ 20,576 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 641 $ 1 $ — $ 642 Merchandise accounts payable — 667 859 — 1,526 Accounts payable and accrued liabilities 35 1,439 1,859 — 3,333 Income taxes — 41 230 (44 ) 227 Total Current Liabilities 35 2,788 2,949 (44 ) 5,728 Long-Term Debt — 6,976 19 — 6,995 Intercompany Payable 1,218 2,582 — (3,800 ) — Deferred Income Taxes — 693 798 (14 ) 1,477 Other Liabilities 21 558 1,544 — 2,123 Shareholders' Equity: Macy's, Inc. 4,250 798 7,731 (8,529 ) 4,250 Noncontrolling Interest — — 3 — 3 Total Shareholders' Equity 4,250 798 7,734 (8,529 ) 4,253 Total Liabilities and Shareholders' Equity $ 5,524 $ 14,395 $ 13,044 $ (12,387 ) $ 20,576 Condensed Consolidating Balance Sheet As of May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,078 $ 115 $ 316 $ — $ 1,509 Receivables — 48 211 — 259 Merchandise inventories — 2,961 2,968 — 5,929 Income tax receivable 43 — — (43 ) — Prepaid expenses and other current assets — 101 370 — 471 Total Current Assets 1,121 3,225 3,865 (43 ) 8,168 Property and Equipment – net — 4,250 3,462 — 7,712 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 68 463 — 531 Other Assets 1 44 665 — 710 Deferred Income Taxes 22 — — (22 ) — Intercompany Receivable — — 3,588 (3,588 ) — Investment in Subsidiaries 4,701 3,549 — (8,250 ) — Total Assets $ 5,845 $ 14,451 $ 12,625 $ (11,903 ) $ 21,018 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 75 $ 1 $ — $ 76 Merchandise accounts payable — 1,139 1,247 — 2,386 Accounts payable and accrued liabilities 13 1,043 1,355 — 2,411 Income taxes — 10 107 (43 ) 74 Total Current Liabilities 13 2,267 2,710 (43 ) 4,947 Long-Term Debt — 7,209 20 — 7,229 Intercompany Payable 564 3,024 — (3,588 ) — Deferred Income Taxes — 744 734 (22 ) 1,456 Other Liabilities 61 543 1,575 — 2,179 Shareholders' Equity: Macy's, Inc. 5,207 664 7,586 (8,250 ) 5,207 Noncontrolling Interest — — — — — Total Shareholders' Equity 5,207 664 7,586 (8,250 ) 5,207 Total Liabilities and Shareholders' Equity $ 5,845 $ 14,451 $ 12,625 $ (11,903 ) $ 21,018 Condensed Consolidating Balance Sheet As of April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 287 $ 112 $ 335 $ — $ 734 Receivables — 158 278 — 436 Merchandise inventories — 2,707 3,031 — 5,738 Income tax receivable 66 — — (47 ) 19 Prepaid expenses and other current assets — 121 369 — 490 Total Current Assets 353 3,098 4,013 (47 ) 7,417 Property and Equipment – net — 3,840 3,635 — 7,475 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 50 461 — 511 Other Assets — 154 744 — 898 Deferred Income Taxes 23 — — (23 ) — Intercompany Receivable — — 3,433 (3,433 ) — Investment in Subsidiaries 4,651 3,810 — (8,461 ) — Total Assets $ 5,027 $ 14,267 $ 12,868 $ (11,964 ) $ 20,198 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 641 $ 1 $ — $ 642 Merchandise accounts payable — 872 1,180 — 2,052 Accounts payable and accrued liabilities 34 1,192 1,464 — 2,690 Income taxes — 9 38 (47 ) — Total Current Liabilities 34 2,714 2,683 (47 ) 5,384 Long-Term Debt — 6,971 19 — 6,990 Intercompany Payable 787 2,646 — (3,433 ) — Deferred Income Taxes — 726 833 (23 ) 1,536 Other Liabilities 58 547 1,529 — 2,134 Shareholders' Equity: Macy's, Inc. 4,148 663 7,798 (8,461 ) 4,148 Noncontrolling Interest — — 6 — 6 Total Shareholders' Equity 4,148 663 7,804 (8,461 ) 4,154 Total Liabilities and Shareholders' Equity $ 5,027 $ 14,267 $ 12,868 $ (11,964 ) $ 20,198
Condensed Consolidating Statement of Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,454 $ 5,374 $ (2,057 ) $ 5,771 Cost of sales — (1,604 ) (3,969 ) 2,057 (3,516 ) Gross margin — 850 1,405 — 2,255 Selling, general and administrative expenses (1 ) (882 ) (1,083 ) — (1,966 ) Settlement charges — (3 ) (10 ) — (13 ) Operating income (loss) (1 ) (35 ) 312 — 276 Interest (expense) income, net: External 1 (99 ) — — (98 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 116 10 — (126 ) — Income (loss) before income taxes 116 (182 ) 370 (126 ) 178 Federal, state and local income — 61 (124 ) — (63 ) Net income (loss) 116 (121 ) 246 (126 ) 115 Net loss attributable to noncontrolling interest — — 1 — 1 Net income (loss) attributable to $ 116 $ (121 ) $ 247 $ (126 ) $ 116 Comprehensive income (loss) $ 108 $ (129 ) $ 241 $ (113 ) $ 107 Comprehensive loss attributable to — — 1 — 1 Comprehensive income (loss) attributable to $ 108 $ (129 ) $ 242 $ (113 ) $ 108 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,776 $ 5,691 $ (2,235 ) $ 6,232 Cost of sales — (1,809 ) (4,226 ) 2,235 (3,800 ) Gross margin — 967 1,465 — 2,432 Selling, general and administrative expenses (1 ) (980 ) (1,042 ) — (2,023 ) Operating income (loss) (1 ) (13 ) 423 — 409 Interest (expense) income, net: External — (95 ) — — (95 ) Intercompany — (58 ) 58 — — Equity in earnings of subsidiaries 194 60 — (254 ) — Income (loss) before income taxes 193 (106 ) 481 (254 ) 314 Federal, state and local income — 37 (158 ) — (121 ) Net income (loss) 193 (69 ) 323 (254 ) 193 Net loss attributable to noncontrolling interest — — — — — Net income (loss) attributable to $ 193 $ (69 ) $ 323 $ (254 ) $ 193 Comprehensive income (loss) $ 201 $ (61 ) $ 327 $ (266 ) $ 201 Comprehensive loss attributable to — — — — — Comprehensive income (loss) attributable to $ 201 $ (61 ) $ 327 $ (266 ) $ 201
Condensed Consolidating Statement of Cash Flows [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 2, 2015 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 193 $ (69 ) $ 323 $ (254 ) $ 193 Equity in earnings of subsidiaries (194 ) (60 ) — 254 — Dividends received from subsidiaries 191 — — (191 ) — Depreciation and amortization — 106 153 — 259 (Increase) decrease in working capital 43 16 (461 ) — (402 ) Other, net 24 (6 ) (15 ) — 3 Net cash provided (used) by operating 257 (13 ) — (191 ) 53 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (69 ) (170 ) — (239 ) Other, net — 7 (149 ) — (142 ) Net cash used by investing activities — (62 ) (319 ) — (381 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (106 ) — (191 ) 191 (106 ) Common stock acquired, net of (259 ) — — — (259 ) Intercompany activity, net (669 ) 146 523 — — Other, net (53 ) (47 ) 59 — (41 ) Net cash provided (used) by (1,087 ) 96 391 191 (409 ) Net increase (decrease) in cash and (830 ) 21 72 — (737 ) Cash and cash equivalents at beginning of period 1,908 94 244 — 2,246 Cash and cash equivalents at end of period $ 1,078 $ 115 $ 316 $ — $ 1,509 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended April 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 116 $ (121 ) $ 246 $ (126 ) $ 115 Settlement charges — 3 10 — 13 Equity in earnings of subsidiaries (116 ) (10 ) — 126 — Dividends received from subsidiaries 182 — — (182 ) — Depreciation and amortization — 102 158 — 260 (Increase) decrease in working capital (34 ) 55 (451 ) — (430 ) Other, net 19 16 15 — 50 Net cash provided (used) by operating activities 167 45 (22 ) (182 ) 8 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (54 ) (158 ) — (212 ) Other, net — (2 ) 3 — 1 Net cash used by investing activities — (56 ) (155 ) — (211 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (112 ) — (182 ) 182 (112 ) Common stock acquired, net of (104 ) — — — (104 ) Proceeds from noncontrolling interest — — 4 — 4 Intercompany activity, net (415 ) 52 363 — — Other, net 10 (17 ) 50 — 43 Net cash provided (used) by (621 ) 32 235 182 (172 ) Net increase (decrease) in cash (454 ) 21 58 — (375 ) Cash and cash equivalents at beginning of period 741 91 277 — 1,109 Cash and cash equivalents at end of period $ 287 $ 112 $ 335 $ — $ 734

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Narrative) (Details)	Apr. 30, 2016stores
Number of states in which entity operates	45
Minimum [Member]
Number of Stores	870

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Stock Options [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	11.2	6.5
Restricted Stock Units [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	1	1.4

Earnings Per Share (Computation

Earnings Per Share (Computation Of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Earnings Per Share [Abstract]
Net income (loss) attributable to Macy's, Inc. shareholders	$ 116	$ 193
Net income available to common stockholders, basic	116	193
Net income available to common stockholders, diluted	$ 116	$ 193
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.37	$ 0.57
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.37	$ 0.56
Average number of shares issued, basic	309.7	339.8
Shares to be issued under deferred compensation and other plans	0.9	0.9
Average number of shares outstanding, basic	310.6	340.7
Effect of dilutive securities-stock options, restricted stock and restricted stock units	2.9	5.8
Average number of shares outstanding, diluted	313.5	346.5

Financing Activities (Details)

Financing Activities (Details) shares in Millions, $ in Millions	3 Months Ended
	Apr. 30, 2016USD ($)shares
Financing Activities [Abstract]
Stock Repurchased During Period, Shares | shares	3
Stock Repurchased During Period, Value	$ 129
Stock Repurchase Program, Authorized Amount	1,500
Stock Repurchase Program, Remaining Authorized Repurchase Amount	1,903
Line of Credit Facility, Current Borrowing Capacity	1,500
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,750

Financing Activities (Detail Of

Financing Activities (Detail Of Debt Repayments) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Debt repaid	$ 3	$ 3
9.5% Amortizing Debentures due Two Thousand Twenty One [Member]
Extinguishment of debt	2	2
9.75% Amortizing Debentures Due Two Thousand Twenty One [Member]
Extinguishment of debt	$ 1	$ 1

Benefit Plans (Net Periodic Ben

Benefit Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
401(k) defined contribution plan expense	$ 24	$ 23
Total Retirement Expense	13	21
Settlement charges	13	0
Pension Plan [Member]
Service cost	1	2
Interest cost	28	34
Expected return on assets	(56)	(59)
Recognition of net actuarial (gain) loss	8	10
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	(19)	(13)
Supplemental Employee Retirement Plan [Member]
Service cost	0	0
Interest cost	6	8
Recognition of net actuarial (gain) loss	2	3
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	8	11
Other Postretirement Benefit Plan [Member]
Service cost	0	0
Interest cost	2	2
Recognition of net actuarial (gain) loss	(1)	0
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	$ 1	$ 2

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets Measured At Fair Value On A Recurring and Nonrecurring Basis) (Details) - USD ($) $ in Millions	Apr. 30, 2016	May. 02, 2015
Marketable equity and debt securities	$ 125	$ 104
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable equity and debt securities	0	0
Significant Observable Inputs (Level 2) [Member]
Marketable equity and debt securities	125	104
Significant Unobservable Inputs (Level 3) [Member]
Marketable equity and debt securities	$ 0	$ 0

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Company Long Term Debt) (Details) - USD ($) $ in Millions	Apr. 30, 2016	May. 02, 2015
Long-term debt	$ 7,113	$ 8,020
Carrying Amount
Long-term debt	6,962	7,200
Notional Amount
Long-term debt	$ 6,870	$ 7,088

Condensed Consolidating Finan27

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015	Jan. 31, 2015
Current Assets:
Cash and cash equivalents	$ 734	$ 1,109	$ 1,509	$ 2,246
Receivables	436	558	259
Merchandise inventories	5,738	5,506	5,929
Prepaid expenses and other current assets	490	479	471
Income tax receivable	19	0	0
Total Current Assets	7,417	7,652	8,168
Property and Equipment - net	7,475	7,616	7,712
Goodwill	3,897	3,897	3,897
Other Intangible Assets - net	511	514	531
Other Assets	898	897	710
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	0	0	0
Total Assets	20,198	20,576	21,018
Current Liabilities:
Short-term debt	642	642	76
Merchandise accounts payable	2,052	1,526	2,386
Accounts payable and accrued liabilities	2,690	3,333	2,411
Income taxes	0	227	74
Total Current Liabilities	5,384	5,728	4,947
Long-Term Debt	6,990	6,995	7,229
Intercompany Payable	0	0	0
Deferred Income Taxes	1,536	1,477	1,456
Other Liabilities	2,134	2,123	2,179
Shareholders' Equity, Macy's, Inc.	4,148	4,250	5,207
Shareholders' Equity, noncontrolling interest	6	3	0
Total Shareholders’ Equity	4,154	4,253	5,207
Total Liabilities and Shareholders' Equity	20,198	20,576	21,018
Parent
Current Assets:
Cash and cash equivalents	287	741	1,078	1,908
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Income tax receivable	66	44	43
Total Current Assets	353	785	1,121
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	0	0	1
Deferred Income Taxes	23	14	22
Intercompany Receivable	0	0	0
Investment in Subsidiaries	4,651	4,725	4,701
Total Assets	5,027	5,524	5,845
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	34	35	13
Income taxes	0	0	0
Total Current Liabilities	34	35	13
Long-Term Debt	0	0	0
Intercompany Payable	787	1,218	564
Deferred Income Taxes	0	0	0
Other Liabilities	58	21	61
Shareholders' Equity, Macy's, Inc.	4,148	4,250	5,207
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	4,148	4,250	5,207
Total Liabilities and Shareholders' Equity	5,027	5,524	5,845
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	112	91	115	94
Receivables	158	217	48
Merchandise inventories	2,707	2,702	2,961
Prepaid expenses and other current assets	121	135	101
Income tax receivable	0	0	0
Total Current Assets	3,098	3,145	3,225
Property and Equipment - net	3,840	3,925	4,250
Goodwill	3,315	3,315	3,315
Other Intangible Assets - net	50	52	68
Other Assets	154	154	44
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	3,810	3,804	3,549
Total Assets	14,267	14,395	14,451
Current Liabilities:
Short-term debt	641	641	75
Merchandise accounts payable	872	667	1,139
Accounts payable and accrued liabilities	1,192	1,439	1,043
Income taxes	9	41	10
Total Current Liabilities	2,714	2,788	2,267
Long-Term Debt	6,971	6,976	7,209
Intercompany Payable	2,646	2,582	3,024
Deferred Income Taxes	726	693	744
Other Liabilities	547	558	543
Shareholders' Equity, Macy's, Inc.	663	798	664
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	663	798	664
Total Liabilities and Shareholders' Equity	14,267	14,395	14,451
Other Subsidiaries
Current Assets:
Cash and cash equivalents	335	277	316	244
Receivables	278	341	211
Merchandise inventories	3,031	2,804	2,968
Prepaid expenses and other current assets	369	344	370
Income tax receivable	0	0	0
Total Current Assets	4,013	3,766	3,865
Property and Equipment - net	3,635	3,691	3,462
Goodwill	582	582	582
Other Intangible Assets - net	461	462	463
Other Assets	744	743	665
Deferred Income Taxes	0	0	0
Intercompany Receivable	3,433	3,800	3,588
Investment in Subsidiaries	0	0	0
Total Assets	12,868	13,044	12,625
Current Liabilities:
Short-term debt	1	1	1
Merchandise accounts payable	1,180	859	1,247
Accounts payable and accrued liabilities	1,464	1,859	1,355
Income taxes	38	230	107
Total Current Liabilities	2,683	2,949	2,710
Long-Term Debt	19	19	20
Intercompany Payable	0	0	0
Deferred Income Taxes	833	798	734
Other Liabilities	1,529	1,544	1,575
Shareholders' Equity, Macy's, Inc.	7,798	7,731	7,586
Shareholders' Equity, noncontrolling interest	6	3	0
Total Shareholders’ Equity	7,804	7,734	7,586
Total Liabilities and Shareholders' Equity	12,868	13,044	12,625
Consolidating Adjustments
Current Assets:
Cash and cash equivalents	0	0	0	$ 0
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Income tax receivable	(47)	(44)	(43)
Total Current Assets	(47)	(44)	(43)
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	0	0	0
Deferred Income Taxes	(23)	(14)	(22)
Intercompany Receivable	(3,433)	(3,800)	(3,588)
Investment in Subsidiaries	(8,461)	(8,529)	(8,250)
Total Assets	(11,964)	(12,387)	(11,903)
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	0	0	0
Income taxes	(47)	(44)	(43)
Total Current Liabilities	(47)	(44)	(43)
Long-Term Debt	0	0	0
Intercompany Payable	(3,433)	(3,800)	(3,588)
Deferred Income Taxes	(23)	(14)	(22)
Other Liabilities	0	0	0
Shareholders' Equity, Macy's, Inc.	(8,461)	(8,529)	(8,250)
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	(8,461)	(8,529)	(8,250)
Total Liabilities and Shareholders' Equity	$ (11,964)	$ (12,387)	$ (11,903)

Condensed Consolidating Finan28

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Net sales	$ 5,771	$ 6,232
Cost of sales	(3,516)	(3,800)
Gross margin	2,255	2,432
Selling, general and administrative expenses	(1,966)	(2,023)
Settlement charges	13	0
Operating income (loss)	276	409
Interest (expense) income, net
External	(98)	(95)
Intercompany	0	0
Equity in earnings of subsidiaries	0	0
Income (loss) before income taxes	178	314
Federal, state and local income tax benefit (expense)	(63)	(121)
Net income (loss)	115	193
Net loss attributable to noncontrolling interest	1	0
Net income (loss) attributable to Macy's, Inc. shareholders	116	193
Comprehensive income (loss)	107	201
Comprehensive loss attributable to noncontrolling interest	1	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	108	201
Parent
Net sales	0	0
Cost of sales	0	0
Gross margin	0	0
Selling, general and administrative expenses	(1)	(1)
Settlement charges	0
Operating income (loss)	(1)	(1)
Interest (expense) income, net
External	1	0
Intercompany	0	0
Equity in earnings of subsidiaries	116	194
Income (loss) before income taxes	116	193
Federal, state and local income tax benefit (expense)	0	0
Net income (loss)	116	193
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	116	193
Comprehensive income (loss)	108	201
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	108	201
Subsidiary Issuer
Net sales	2,454	2,776
Cost of sales	(1,604)	(1,809)
Gross margin	850	967
Selling, general and administrative expenses	(882)	(980)
Settlement charges	3
Operating income (loss)	(35)	(13)
Interest (expense) income, net
External	(99)	(95)
Intercompany	(58)	(58)
Equity in earnings of subsidiaries	10	60
Income (loss) before income taxes	(182)	(106)
Federal, state and local income tax benefit (expense)	61	37
Net income (loss)	(121)	(69)
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(121)	(69)
Comprehensive income (loss)	(129)	(61)
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	(129)	(61)
Other Subsidiaries
Net sales	5,374	5,691
Cost of sales	(3,969)	(4,226)
Gross margin	1,405	1,465
Selling, general and administrative expenses	(1,083)	(1,042)
Settlement charges	10
Operating income (loss)	312	423
Interest (expense) income, net
External	0	0
Intercompany	58	58
Equity in earnings of subsidiaries	0	0
Income (loss) before income taxes	370	481
Federal, state and local income tax benefit (expense)	(124)	(158)
Net income (loss)	246	323
Net loss attributable to noncontrolling interest	1	0
Net income (loss) attributable to Macy's, Inc. shareholders	247	323
Comprehensive income (loss)	241	327
Comprehensive loss attributable to noncontrolling interest	1	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	242	327
Consolidating Adjustments
Net sales	(2,057)	(2,235)
Cost of sales	2,057	2,235
Gross margin	0	0
Selling, general and administrative expenses	0	0
Settlement charges	0
Operating income (loss)	0	0
Interest (expense) income, net
External	0	0
Intercompany	0	0
Equity in earnings of subsidiaries	(126)	(254)
Income (loss) before income taxes	(126)	(254)
Federal, state and local income tax benefit (expense)	0	0
Net income (loss)	(126)	(254)
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(126)	(254)
Comprehensive income (loss)	(113)	(266)
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ (113)	$ (266)

Condensed Consolidating Finan29

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Cash flows from operating activities:
Net income (loss)	$ 115	$ 193
Settlement charges	13	0
Equity in earnings of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	260	259
(Increase) decrease in working capital	(430)	(402)
Other, net	50	3
Net cash provided (used) by operating activities	8	53
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(212)	(239)
Other, net	1	(142)
Net cash used by investing activities	(211)	(381)
Cash flows from financing activities:
Debt repaid	(3)	(3)
Dividends paid	(112)	(106)
(Common stock acquired) net of issuance of common stock	(104)	(259)
Proceeds from noncontrolling interest	4	0
Intercompany activity, net	0	0
Other, net	43	(41)
Net cash provided (used) by financing activities	(172)	(409)
Net increase (decrease) in cash and cash equivalents	(375)	(737)
Cash and cash equivalents beginning of period	1,109	2,246
Cash and cash equivalents end of period	734	1,509
Parent
Cash flows from operating activities:
Net income (loss)	116	193
Settlement charges	0
Equity in earnings of subsidiaries	(116)	(194)
Dividends received from subsidiaries	182	191
Depreciation and amortization	0	0
(Increase) decrease in working capital	(34)	43
Other, net	19	24
Net cash provided (used) by operating activities	167	257
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	0	0
Other, net	0	0
Net cash used by investing activities	0	0
Cash flows from financing activities:
Debt repaid	0	0
Dividends paid	(112)	(106)
(Common stock acquired) net of issuance of common stock	(104)	(259)
Proceeds from noncontrolling interest	0
Intercompany activity, net	(415)	(669)
Other, net	10	(53)
Net cash provided (used) by financing activities	(621)	(1,087)
Net increase (decrease) in cash and cash equivalents	(454)	(830)
Cash and cash equivalents beginning of period	741	1,908
Cash and cash equivalents end of period	287	1,078
Subsidiary Issuer
Cash flows from operating activities:
Net income (loss)	(121)	(69)
Settlement charges	3
Equity in earnings of subsidiaries	(10)	(60)
Dividends received from subsidiaries	0	0
Depreciation and amortization	102	106
(Increase) decrease in working capital	55	16
Other, net	16	(6)
Net cash provided (used) by operating activities	45	(13)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(54)	(69)
Other, net	(2)	7
Net cash used by investing activities	(56)	(62)
Cash flows from financing activities:
Debt repaid	(3)	(3)
Dividends paid	0	0
(Common stock acquired) net of issuance of common stock	0	0
Proceeds from noncontrolling interest	0
Intercompany activity, net	52	146
Other, net	(17)	(47)
Net cash provided (used) by financing activities	32	96
Net increase (decrease) in cash and cash equivalents	21	21
Cash and cash equivalents beginning of period	91	94
Cash and cash equivalents end of period	112	115
Other Subsidiaries
Cash flows from operating activities:
Net income (loss)	246	323
Settlement charges	10
Equity in earnings of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	158	153
(Increase) decrease in working capital	(451)	(461)
Other, net	15	(15)
Net cash provided (used) by operating activities	(22)	0
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(158)	(170)
Other, net	3	(149)
Net cash used by investing activities	(155)	(319)
Cash flows from financing activities:
Debt repaid	0	0
Dividends paid	(182)	(191)
(Common stock acquired) net of issuance of common stock	0	0
Proceeds from noncontrolling interest	4
Intercompany activity, net	363	523
Other, net	50	59
Net cash provided (used) by financing activities	235	391
Net increase (decrease) in cash and cash equivalents	58	72
Cash and cash equivalents beginning of period	277	244
Cash and cash equivalents end of period	335	316
Consolidating Adjustments
Cash flows from operating activities:
Net income (loss)	(126)	(254)
Settlement charges	0
Equity in earnings of subsidiaries	126	254
Dividends received from subsidiaries	(182)	(191)
Depreciation and amortization	0	0
(Increase) decrease in working capital	0	0
Other, net	0	0
Net cash provided (used) by operating activities	(182)	(191)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	0	0
Other, net	0	0
Net cash used by investing activities	0	0
Cash flows from financing activities:
Debt repaid	0	0
Dividends paid	182	191
(Common stock acquired) net of issuance of common stock	0	0
Proceeds from noncontrolling interest	0
Intercompany activity, net	0	0
Other, net	0	0
Net cash provided (used) by financing activities	182	191
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents beginning of period	0	0
Cash and cash equivalents end of period	$ 0	$ 0