Macy's (M) 10-Q 25 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jul. 29, 2017shares
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 29, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	M
Entity Registrant Name	Macy's, Inc.
Entity Central Index Key	794,367
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	304,558,965

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Income Statement [Abstract]
Net sales	$ 5,552	$ 5,866	$ 10,890	$ 11,637
Cost of sales	(3,313)	(3,468)	(6,619)	(6,984)
Gross margin	2,239	2,398	4,271	4,653
Selling, general and administrative expenses	(1,977)	(2,047)	(3,857)	(4,027)
Gains on sale of real estate	43	21	111	35
Impairments and other costs	0	(249)	0	(249)
Settlement charges	(51)	(6)	(51)	(19)
Operating income (loss)	254	117	474	393
Interest expense	(82)	(98)	(168)	(197)
Net premiums on early retirement of debt	2	0	(1)	0
Interest income	3	1	5	2
Income (loss) before income taxes	177	20	310	198
Federal, state and local income tax expense	(64)	(11)	(127)	(74)
Net income (loss)	113	9	183	124
Net loss attributable to noncontrolling interest	3	2	4	3
Net income (loss) attributable to Macy's, Inc. shareholders	$ 116	$ 11	$ 187	$ 127
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.38	$ 0.03	$ 0.61	$ 0.41
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.38	$ 0.03	$ 0.61	$ 0.41

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Net income (loss)	$ 113	$ 9	$ 183	$ 124
Actuarial gain (loss) on postretirement benefit plans, before tax	47	(41)	47	(77)
Settlement charges, before tax	51	6	51	19
Amortization of net actuarial loss on post employment and postretirement benefit plans, before tax	9	8	18	17
Tax effect related to items of other comprehensive income (loss)	(42)	10	(45)	16
Total other comprehensive income (loss), net of tax effect	65	(17)	71	(25)
Comprehensive income (loss)	178	(8)	254	99
Comprehensive loss attributable to noncontrolling interest	3	2	4	3
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ 181	$ (6)	$ 258	$ 102

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 29, 2017	Jan. 28, 2017	Jul. 30, 2016	Jan. 30, 2016
Current Assets:
Cash and cash equivalents	$ 783	$ 1,297	$ 1,000	$ 1,109
Receivables	382	522	423
Merchandise inventories	4,980	5,399	5,322
Prepaid expenses and other current assets	412	408	471
Total Current Assets	6,557	7,626	7,216
Property and Equipment - net	6,822	7,017	7,187
Goodwill	3,897	3,897	3,897
Other Intangible Assets - net	493	498	502
Other Assets	810	813	904
Total Assets	18,579	19,851	19,706
Current Liabilities:
Short-term debt	16	309	1,063
Merchandise accounts payable	1,669	1,423	1,877
Accounts payable and accrued liabilities	2,873	3,563	2,514
Income taxes	52	352	23
Total Current Liabilities	4,610	5,647	5,477
Long-Term Debt	6,301	6,562	6,567
Deferred Income Taxes	1,512	1,443	1,448
Other Liabilities	1,773	1,877	2,164
Shareholders' Equity, Macy's, Inc.	4,388	4,323	4,046
Shareholders' Equity, noncontrolling interest	(5)	(1)	4
Total Shareholders’ Equity	4,383	4,322	4,050
Total Liabilities and Shareholders' Equity	$ 18,579	$ 19,851	$ 19,706

Consolidated Balance Sheets (pa

Consolidated Balance Sheets (parenthetical) - USD ($) $ in Millions	Jul. 29, 2017	Jan. 28, 2017	Jul. 30, 2016
Accumulated depreciation	$ 5,159	$ 4,856	$ 5,457

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016
Net income (loss)	$ 183	$ 124
Adjustments to reconcile net income to net cash provided by operating activities:
Impairments and other costs	0	249
Settlement charges	51	19
Depreciation and amortization	487	520
Stock-based compensation expense	31	37
Gains on sale of real estate	(111)	(35)
Amortization of financing costs and premium on acquired debt	(10)	(1)
Changes in assets and liabilities:
Decrease in receivables	119	99
Decrease in merchandise inventories	419	184
Increase in prepaid expenses and other current assets	(13)	(40)
Increase in merchandise accounts payable	261	307
Decrease in accounts payable, accrued liabilities and other items not separately identified	(540)	(634)
Decrease in current income taxes	(301)	(204)
Increase (decrease) in deferred income taxes	24	(26)
Decrease in other liabilities not separately identified	(64)	(39)
Net cash provided (used) by operating activities	536	560
Cash flows from investing activities:
Purchase of property and equipment	(247)	(293)
Capitalized software	(125)	(151)
Disposition of property and equipment	150	67
Other, net	9	39
Net cash used by investing activities	(213)	(338)
Cash flows from financing activities:
Debt repaid	(550)	(3)
Financing costs	0	(3)
Dividends paid	(230)	(228)
Increase (decrease) in outstanding checks	(64)	2
Acquisition of treasury stock	(1)	(130)
Issuance of common stock	2	27
Proceeds from noncontrolling interest	6	4
Net cash provided (used) by financing activities	(837)	(331)
Net increase (decrease) in cash and cash equivalents	(514)	(109)
Cash and cash equivalents beginning of period	1,297	1,109
Cash and cash equivalents end of period	783	1,000
Supplemental cash flow information:
Interest paid	183	200
Interest received	5	2
Income taxes paid (net of refunds received)	$ 401	$ 292

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 29, 2017
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 are conducted through approximately 850 Macy's, Macy's Backstage, Bloomingdale's, Bloomingdale's The 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 and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC. 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 28, 2017 (the "2016 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2016 10-K. Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles ("GAAP") 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 and 26 weeks ended July 29, 2017 and July 30, 2016 , 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 and 26 weeks ended July 29, 2017 and July 30, 2016 (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 to 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 and 26 weeks ended July 29, 2017 and July 30, 2016 relate to post employment and postretirement plan items. Settlement charges incurred are included as a separate component of operating expenses in the Consolidated Statements of Income. 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. Newly Adopted Accounting Pronouncements The Company adopted Accounting Standards Update ("ASU") No. 2016-09, Improvements to Employee Share-Based Payment Accounting , effective January 29, 2017. This standard was issued to simplify several aspects of the accounting for share-based payment awards, including the income tax consequences, financial statement classification and forfeiture considerations of such awards. Upon adoption, the Company began to recognize, on a prospective basis, all excess tax benefits and tax deficiencies as income tax benefit or expense, respectively, in its Consolidated Statements of Income. For awards that were exercised, vested or expired during the 13 and 26 weeks ended July 29, 2017 , approximately $1 million and $12 million , respectively, of additional income tax expense associated with net tax deficiencies was recognized. Additionally, these net tax deficiencies have been classified as an operating activity along with other income tax cash flows in the Consolidated Statements of Cash Flows. The Company has elected to adopt such presentation on a prospective basis.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 29, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Attributable to Macy's, Inc. Shareholders The following tables set forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders: 13 Weeks Ended July 29, 2017 July 30, 2016 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 116 304.5 $ 11 308.5 Shares to be issued under deferred 1.0 0.9 $ 116 305.5 $ 11 309.4 Basic earnings per share attributable to $ .38 $ .03 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 1.0 1.9 $ 116 306.5 $ 11 311.3 Diluted earnings per share attributable to $ .38 $ .03 26 Weeks Ended July 29, 2017 July 30, 2016 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 187 304.4 $ 127 309.1 Shares to be issued under deferred 0.8 0.9 $ 187 305.2 $ 127 310.0 Basic earnings per share attributable to $ .61 $ .41 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 1.5 2.4 $ 187 306.7 $ 127 312.4 Diluted earnings per share attributable to $ .61 $ .41 For the 13 and 26 weeks ended July 29, 2017 , in addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 16.7 million shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at July 29, 2017 , but were not included in the computation of diluted earnings per share because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met. For the 13 and 26 weeks ended July 30, 2016 , in addition to the stock options, restricted stock and restricted stock units reflected in the foregoing tables, stock options to purchase 15.7 million shares of common stock and restricted stock units relating to 1.1 million shares of common stock were outstanding at July 30, 2016 , but were not included in the computation of diluted earnings per share because their inclusion would have been antidilutive or they were subject to performance conditions that had not been met.

Financing Activities

Financing Activities	6 Months Ended
	Jul. 29, 2017
Financing Activities [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 26 Weeks Ended July 29, 2017 July 30, 2016 (millions) 7.45% Senior debentures due 2017 $ 300 $ — 6.375% Senior notes due 2037 135 — 6.9% Senior debentures due 2032 72 — 6.7% Senior debentures due 2034 28 — 6.65% Senior debentures due 2024 4 — 6.9% Senior debentures due 2029 3 — 6.7% Senior debentures due 2028 3 — 7.0% Senior debentures due 2028 2 — 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 $ 550 $ 3 During the 26 weeks ended July 29, 2017 , the Company repaid, at maturity, $300 million of 7.45% senior debentures due July 2017. During the 26 weeks ended July 29, 2017 , the Company repurchased $247 million face value of senior notes and debentures. The debt repurchases were made in the open market for a total cash cost of $257 million , including expenses related to the transactions. Such repurchases resulted in the recognition of income of $2 million and expense of $1 million during the 13 and 26 weeks ended July 29, 2017 , respectively, presented as net premiums on early retirement of debt on the Consolidated Statements of Income.

Benefit Plans

Benefit Plans	6 Months Ended
	Jul. 29, 2017
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [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 26 Weeks Ended July 29, 2017 July 30, 2016 July 29, 2017 July 30, 2016 (millions) (millions) 401(k) Qualified Defined Contribution Plan $ 24 $ 25 $ 45 $ 49 Non-Qualified Defined Contribution Plan $ — $ 1 $ — $ 1 Pension Plan Service cost $ 2 $ 1 $ 3 $ 2 Interest cost 27 28 54 56 Expected return on assets (57 ) (58 ) (113 ) (114 ) Recognition of net actuarial loss 8 7 16 15 Amortization of prior service credit — — — — $ (20 ) $ (22 ) $ (40 ) $ (41 ) Supplementary Retirement Plan Service cost $ — $ — $ — $ — Interest cost 5 6 11 12 Recognition of net actuarial loss 2 2 4 4 Amortization of prior service cost — — — — $ 7 $ 8 $ 15 $ 16 Total Retirement Expense $ 11 $ 12 $ 20 $ 25 Postretirement Obligations Service cost $ — $ — $ — $ — Interest cost 2 1 3 3 Recognition of net actuarial gain (1 ) (1 ) (2 ) (2 ) Amortization of prior service cost — — — — $ 1 $ — $ 1 $ 1 During the 13 and 26 weeks ended July 29, 2017 , the Company incurred $51 million of non-cash settlement charges relating to the Company's defined benefit plans. During the 13 and 26 weeks ended July 30, 2016 , the Company also incurred $6 million and $19 million , respectively, of non-cash settlement charges relating to the Company's defined benefit plans. These charges relate to the pro-rata recognition of net actuarial losses associated with the Company's defined benefit plans and are a result of 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	6 Months Ended
	Jul. 29, 2017
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: July 29, 2017 July 30, 2016 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 $ 99 $ 22 $ 77 $ — $ 141 $ 18 $ 123 $ — 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 of these financial instruments 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: July 29, 2017 July 30, 2016 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,209 $ 6,274 $ 6,217 $ 6,461 $ 6,540 $ 6,822

Condensed Consolidating Financi

Condensed Consolidating Financial Information	6 Months Ended
	Jul. 29, 2017
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 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 Statements of Comprehensive Income for the 13 and 26 weeks ended July 29, 2017 and July 30, 2016 , Condensed Consolidating Balance Sheets as of July 29, 2017 , July 30, 2016 and January 28, 2017 , and the related Condensed Consolidating Statements of Cash Flows for the 26 weeks ended July 29, 2017 and July 30, 2016 are presented on the following pages. Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,186 $ 4,739 $ (1,373 ) $ 5,552 Cost of sales — (1,356 ) (3,330 ) 1,373 (3,313 ) Gross margin — 830 1,409 — 2,239 Selling, general and administrative expenses — (848 ) (1,129 ) — (1,977 ) Gains on sale of real estate — 26 17 — 43 Settlement charges — (17 ) (34 ) — (51 ) Operating income (loss) — (9 ) 263 — 254 Interest (expense) income, net: External 2 (82 ) 1 — (79 ) Intercompany — (34 ) 34 — — Net premiums on early retirement of debt — 2 — — 2 Equity in earnings of subsidiaries 114 39 — (153 ) — Income (loss) before income taxes 116 (84 ) 298 (153 ) 177 Federal, state and local income — 52 (116 ) — (64 ) Net income (loss) 116 (32 ) 182 (153 ) 113 Net loss attributable to noncontrolling interest — — 3 — 3 Net income (loss) attributable to $ 116 $ (32 ) $ 185 $ (153 ) $ 116 Comprehensive income (loss) $ 181 $ 29 $ 226 $ (258 ) $ 178 Comprehensive loss attributable to — — 3 — 3 Comprehensive income (loss) attributable to $ 181 $ 29 $ 229 $ (258 ) $ 181 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,494 $ 4,989 $ (1,617 ) $ 5,866 Cost of sales — (1,523 ) (3,562 ) 1,617 (3,468 ) Gross margin — 971 1,427 — 2,398 Selling, general and administrative expenses — (957 ) (1,090 ) — (2,047 ) Gains on sale of real estate — 16 5 — 21 Impairments and other costs — (184 ) (65 ) — (249 ) Settlement charges — (2 ) (4 ) — (6 ) Operating income (loss) — (156 ) 273 — 117 Interest (expense) income, net: External — (97 ) — — (97 ) Intercompany — (57 ) 57 — — Equity in earnings of subsidiaries 11 22 — (33 ) — Income (loss) before income taxes 11 (288 ) 330 (33 ) 20 Federal, state and local income — 114 (125 ) — (11 ) Net income (loss) 11 (174 ) 205 (33 ) 9 Net loss attributable to noncontrolling interest — — 2 — 2 Net income (loss) attributable to $ 11 $ (174 ) $ 207 $ (33 ) $ 11 Comprehensive income (loss) $ (6 ) $ (191 ) $ 195 $ (6 ) $ (8 ) Comprehensive loss attributable to — — 2 — 2 Comprehensive income (loss) attributable to $ (6 ) $ (191 ) $ 197 $ (6 ) $ (6 ) Condensed Consolidating Statement of Comprehensive Income For the 26 weeks ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 4,242 $ 9,866 $ (3,218 ) $ 10,890 Cost of sales — (2,735 ) (7,102 ) 3,218 (6,619 ) Gross margin — 1,507 2,764 — 4,271 Selling, general and administrative expenses (1 ) (1,617 ) (2,239 ) — (3,857 ) Gains on sale of real estate — 92 19 — 111 Settlement charges — (17 ) (34 ) — (51 ) Operating income (loss) (1 ) (35 ) 510 — 474 Interest (expense) income, net: External 3 (167 ) 1 — (163 ) Intercompany — (69 ) 69 — — Net premiums on early retirement of debt — (1 ) — — (1 ) Equity in earnings of subsidiaries 186 30 — (216 ) — Income (loss) before income taxes 188 (242 ) 580 (216 ) 310 Federal, state and local income (1 ) 84 (210 ) — (127 ) Net income (loss) 187 (158 ) 370 (216 ) 183 Net loss attributable to noncontrolling interest — — 4 — 4 Net income (loss) attributable to $ 187 $ (158 ) $ 374 $ (216 ) $ 187 Comprehensive income (loss) $ 258 $ (91 ) $ 417 $ (330 ) $ 254 Comprehensive loss attributable to — — 4 — 4 Comprehensive income (loss) attributable to $ 258 $ (91 ) $ 421 $ (330 ) $ 258 Condensed Consolidating Statement of Comprehensive Income For the 26 weeks ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 4,948 $ 10,363 $ (3,674 ) $ 11,637 Cost of sales — (3,127 ) (7,531 ) 3,674 (6,984 ) Gross margin — 1,821 2,832 — 4,653 Selling, general and administrative expenses (1 ) (1,853 ) (2,173 ) — (4,027 ) Gains on sale of real estate — 30 5 — 35 Impairments and other costs — (184 ) (65 ) — (249 ) Settlement charges — (5 ) (14 ) — (19 ) Operating income (loss) (1 ) (191 ) 585 — 393 Interest (expense) income, net: External 1 (196 ) — — (195 ) Intercompany — (115 ) 115 — — Equity in earnings of subsidiaries 127 32 — (159 ) — Income (loss) before income taxes 127 (470 ) 700 (159 ) 198 Federal, state and local income — 175 (249 ) — (74 ) Net income (loss) 127 (295 ) 451 (159 ) 124 Net loss attributable to noncontrolling interest — — 3 — 3 Net income (loss) attributable to $ 127 $ (295 ) $ 454 $ (159 ) $ 127 Comprehensive income (loss) $ 102 $ (320 ) $ 436 $ (119 ) $ 99 Comprehensive loss attributable to — — 3 — 3 Comprehensive income (loss) attributable to $ 102 $ (320 ) $ 439 $ (119 ) $ 102 Condensed Consolidating Balance Sheet As of July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 421 $ 78 $ 284 $ — $ 783 Receivables — 132 250 — 382 Merchandise inventories — 2,236 2,744 — 4,980 Prepaid expenses and other current assets — 82 330 — 412 Total Current Assets 421 2,528 3,608 — 6,557 Property and Equipment – net — 3,202 3,620 — 6,822 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 47 446 — 493 Other Assets 1 53 756 — 810 Deferred Income Taxes 25 — — (25 ) — Intercompany Receivable 1,011 — 2,065 (3,076 ) — Investment in Subsidiaries 3,054 3,690 — (6,744 ) — Total Assets $ 4,512 $ 12,835 $ 11,077 $ (9,845 ) $ 18,579 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 10 $ — $ 16 Merchandise accounts payable — 698 971 — 1,669 Accounts payable and accrued liabilities 24 900 1,949 — 2,873 Income taxes 28 2 22 — 52 Total Current Liabilities 52 1,606 2,952 — 4,610 Long-Term Debt — 6,284 17 — 6,301 Intercompany Payable — 3,076 — (3,076 ) — Deferred Income Taxes — 720 817 (25 ) 1,512 Other Liabilities 72 425 1,276 — 1,773 Shareholders' Equity: Macy's, Inc. 4,388 724 6,020 (6,744 ) 4,388 Noncontrolling Interest — — (5 ) — (5 ) Total Shareholders' Equity 4,388 724 6,015 (6,744 ) 4,383 Total Liabilities and Shareholders' Equity $ 4,512 $ 12,835 $ 11,077 $ (9,845 ) $ 18,579 Condensed Consolidating Balance Sheet As of July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 621 $ 89 $ 290 $ — $ 1,000 Receivables — 146 277 — 423 Merchandise inventories — 2,500 2,822 — 5,322 Income tax receivable 8 11 — (19 ) — Prepaid expenses and other current assets — 84 387 — 471 Total Current Assets 629 2,830 3,776 (19 ) 7,216 Property and Equipment – net — 3,586 3,601 — 7,187 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 49 453 — 502 Other Assets — 155 749 — 904 Deferred Income Taxes 23 — — (23 ) — Intercompany Receivable — — 2,710 (2,710 ) — Investment in Subsidiaries 4,524 3,247 — (7,771 ) — Total Assets $ 5,176 $ 13,182 $ 11,871 $ (10,523 ) $ 19,706 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 1,062 $ 1 $ — $ 1,063 Merchandise accounts payable — 825 1,052 — 1,877 Accounts payable and accrued liabilities 29 1,380 1,105 — 2,514 Income taxes — — 42 (19 ) 23 Total Current Liabilities 29 3,267 2,200 (19 ) 5,477 Long-Term Debt — 6,549 18 — 6,567 Intercompany Payable 1,043 1,667 — (2,710 ) — Deferred Income Taxes — 653 818 (23 ) 1,448 Other Liabilities 58 573 1,533 — 2,164 Shareholders' Equity: Macy's, Inc. 4,046 473 7,298 (7,771 ) 4,046 Noncontrolling Interest — — 4 — 4 Total Shareholders' Equity 4,046 473 7,302 (7,771 ) 4,050 Total Liabilities and Shareholders' Equity $ 5,176 $ 13,182 $ 11,871 $ (10,523 ) $ 19,706 Condensed Consolidating Balance Sheet As of January 28, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 938 $ 81 $ 278 $ — $ 1,297 Receivables — 169 353 — 522 Merchandise inventories — 2,565 2,834 — 5,399 Prepaid expenses and other current assets — 84 324 — 408 Total Current Assets 938 2,899 3,789 — 7,626 Property and Equipment – net — 3,397 3,620 — 7,017 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 51 447 — 498 Other Assets — 47 766 — 813 Deferred Income Taxes 26 — — (26 ) — Intercompany Receivable 375 — 2,428 (2,803 ) — Investment in Subsidiaries 3,137 3,540 — (6,677 ) — Total Assets $ 4,476 $ 13,249 $ 11,632 $ (9,506 ) $ 19,851 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 306 $ 3 $ — $ 309 Merchandise accounts payable — 590 833 — 1,423 Accounts payable and accrued liabilities 16 1,064 2,483 — 3,563 Income taxes 71 16 265 — 352 Total Current Liabilities 87 1,976 3,584 — 5,647 Long-Term Debt — 6,544 18 — 6,562 Intercompany Payable — 2,803 — (2,803 ) — Deferred Income Taxes — 688 781 (26 ) 1,443 Other Liabilities 66 500 1,311 — 1,877 Shareholders' Equity: Macy's, Inc. 4,323 738 5,939 (6,677 ) 4,323 Noncontrolling Interest — — (1 ) — (1 ) Total Shareholders' Equity 4,323 738 5,938 (6,677 ) 4,322 Total Liabilities and Shareholders' Equity $ 4,476 $ 13,249 $ 11,632 $ (9,506 ) $ 19,851 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 187 $ (158 ) $ 370 $ (216 ) $ 183 Settlement charges — 17 34 — 51 Equity in earnings of subsidiaries (186 ) (30 ) — 216 — Dividends received from subsidiaries 340 — — (340 ) — Depreciation and amortization — 178 309 — 487 (Increase) decrease in working capital (46 ) 262 (382 ) — (166 ) Other, net 12 (29 ) (2 ) — (19 ) Net cash provided by operating activities 307 240 329 (340 ) 536 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — 85 (307 ) — (222 ) Other, net — — 9 — 9 Net cash provided (used) by investing activities — 85 (298 ) — (213 ) Cash flows from financing activities: Debt repaid — (550 ) — — (550 ) Dividends paid (230 ) — (340 ) 340 (230 ) Common stock acquired, net of 1 — — — 1 Proceeds from noncontrolling interest — — 6 — 6 Intercompany activity, net (605 ) 259 346 — — Other, net 10 (37 ) (37 ) — (64 ) Net cash used by financing activities (824 ) (328 ) (25 ) 340 (837 ) Net increase (decrease) in cash and (517 ) (3 ) 6 — (514 ) Cash and cash equivalents at beginning of period 938 81 278 — 1,297 Cash and cash equivalents at end of period $ 421 $ 78 $ 284 $ — $ 783 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 127 $ (295 ) $ 451 $ (159 ) $ 124 Impairments and other costs — 184 65 — 249 Settlement charges — 5 14 — 19 Equity in earnings of subsidiaries (127 ) (32 ) — 159 — Dividends received from subsidiaries 303 575 — (878 ) — Depreciation and amortization — 205 315 — 520 (Increase) decrease in working capital 32 367 (722 ) — (323 ) Other, net 17 (37 ) (9 ) — (29 ) Net cash provided by operating activities 352 972 114 (878 ) 560 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (50 ) (327 ) — (377 ) Other, net — 43 (4 ) — 39 Net cash used by investing activities — (7 ) (331 ) — (338 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (228 ) — (878 ) 878 (228 ) Common stock acquired, net of (103 ) — — — (103 ) Proceeds from noncontrolling interest — — 4 — 4 Intercompany activity, net (139 ) (937 ) 1,076 — — Other, net (2 ) (27 ) 28 — (1 ) Net cash provided (used) by (472 ) (967 ) 230 878 (331 ) Net increase (decrease) in cash and (120 ) (2 ) 13 — (109 ) Cash and cash equivalents at beginning of period 741 91 277 — 1,109 Cash and cash equivalents at end of period $ 621 $ 89 $ 290 $ — $ 1,000

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policy)	6 Months Ended
	Jul. 29, 2017
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 are conducted through approximately 850 Macy's, Macy's Backstage, Bloomingdale's, Bloomingdale's The 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 and Al Zahra, Kuwait are operated under a license agreement with Al Tayer Insignia, a company of Al Tayer Group, LLC.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with United States generally accepted accounting principles ("GAAP") 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 and 26 weeks ended July 29, 2017 and July 30, 2016 , 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 to 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 and 26 weeks ended July 29, 2017 and July 30, 2016 relate to post employment and postretirement plan items. Settlement charges incurred are included as a separate component of operating expenses in the Consolidated Statements of Income. 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.
Newly Adopted Accounting Pronouncements	Newly Adopted Accounting Pronouncements The Company adopted Accounting Standards Update ("ASU") No. 2016-09, Improvements to Employee Share-Based Payment Accounting , effective January 29, 2017. This standard was issued to simplify several aspects of the accounting for share-based payment awards, including the income tax consequences, financial statement classification and forfeiture considerations of such awards. Upon adoption, the Company began to recognize, on a prospective basis, all excess tax benefits and tax deficiencies as income tax benefit or expense, respectively, in its Consolidated Statements of Income. For awards that were exercised, vested or expired during the 13 and 26 weeks ended July 29, 2017 , approximately $1 million and $12 million , respectively, of additional income tax expense associated with net tax deficiencies was recognized. Additionally, these net tax deficiencies have been classified as an operating activity along with other income tax cash flows in the Consolidated Statements of Cash Flows. The Company has elected to adopt such presentation on a prospective basis.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 29, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following tables set forth the computation of basic and diluted earnings per share attributable to Macy's, Inc. shareholders: 13 Weeks Ended July 29, 2017 July 30, 2016 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 116 304.5 $ 11 308.5 Shares to be issued under deferred 1.0 0.9 $ 116 305.5 $ 11 309.4 Basic earnings per share attributable to $ .38 $ .03 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 1.0 1.9 $ 116 306.5 $ 11 311.3 Diluted earnings per share attributable to $ .38 $ .03 26 Weeks Ended July 29, 2017 July 30, 2016 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 187 304.4 $ 127 309.1 Shares to be issued under deferred 0.8 0.9 $ 187 305.2 $ 127 310.0 Basic earnings per share attributable to $ .61 $ .41 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 1.5 2.4 $ 187 306.7 $ 127 312.4 Diluted earnings per share attributable to $ .61 $ .41

Financing Activities Financing

Financing Activities Financing Activites (Tables)	6 Months Ended
	Jul. 29, 2017
Extinguishment of Debt [Line Items]
Detail of Debt Repayments	The following table shows the detail of debt repayments: 26 Weeks Ended July 29, 2017 July 30, 2016 (millions) 7.45% Senior debentures due 2017 $ 300 $ — 6.375% Senior notes due 2037 135 — 6.9% Senior debentures due 2032 72 — 6.7% Senior debentures due 2034 28 — 6.65% Senior debentures due 2024 4 — 6.9% Senior debentures due 2029 3 — 6.7% Senior debentures due 2028 3 — 7.0% Senior debentures due 2028 2 — 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 $ 550 $ 3

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jul. 29, 2017
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [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 26 Weeks Ended July 29, 2017 July 30, 2016 July 29, 2017 July 30, 2016 (millions) (millions) 401(k) Qualified Defined Contribution Plan $ 24 $ 25 $ 45 $ 49 Non-Qualified Defined Contribution Plan $ — $ 1 $ — $ 1 Pension Plan Service cost $ 2 $ 1 $ 3 $ 2 Interest cost 27 28 54 56 Expected return on assets (57 ) (58 ) (113 ) (114 ) Recognition of net actuarial loss 8 7 16 15 Amortization of prior service credit — — — — $ (20 ) $ (22 ) $ (40 ) $ (41 ) Supplementary Retirement Plan Service cost $ — $ — $ — $ — Interest cost 5 6 11 12 Recognition of net actuarial loss 2 2 4 4 Amortization of prior service cost — — — — $ 7 $ 8 $ 15 $ 16 Total Retirement Expense $ 11 $ 12 $ 20 $ 25 Postretirement Obligations Service cost $ — $ — $ — $ — Interest cost 2 1 3 3 Recognition of net actuarial gain (1 ) (1 ) (2 ) (2 ) Amortization of prior service cost — — — — $ 1 $ — $ 1 $ 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 29, 2017
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: July 29, 2017 July 30, 2016 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 $ 99 $ 22 $ 77 $ — $ 141 $ 18 $ 123 $ —
Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt: July 29, 2017 July 30, 2016 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 6,209 $ 6,274 $ 6,217 $ 6,461 $ 6,540 $ 6,822

Condensed Consolidating Finan18

Condensed Consolidating Financial Information (Tables)	6 Months Ended
	Jul. 29, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 421 $ 78 $ 284 $ — $ 783 Receivables — 132 250 — 382 Merchandise inventories — 2,236 2,744 — 4,980 Prepaid expenses and other current assets — 82 330 — 412 Total Current Assets 421 2,528 3,608 — 6,557 Property and Equipment – net — 3,202 3,620 — 6,822 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 47 446 — 493 Other Assets 1 53 756 — 810 Deferred Income Taxes 25 — — (25 ) — Intercompany Receivable 1,011 — 2,065 (3,076 ) — Investment in Subsidiaries 3,054 3,690 — (6,744 ) — Total Assets $ 4,512 $ 12,835 $ 11,077 $ (9,845 ) $ 18,579 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 10 $ — $ 16 Merchandise accounts payable — 698 971 — 1,669 Accounts payable and accrued liabilities 24 900 1,949 — 2,873 Income taxes 28 2 22 — 52 Total Current Liabilities 52 1,606 2,952 — 4,610 Long-Term Debt — 6,284 17 — 6,301 Intercompany Payable — 3,076 — (3,076 ) — Deferred Income Taxes — 720 817 (25 ) 1,512 Other Liabilities 72 425 1,276 — 1,773 Shareholders' Equity: Macy's, Inc. 4,388 724 6,020 (6,744 ) 4,388 Noncontrolling Interest — — (5 ) — (5 ) Total Shareholders' Equity 4,388 724 6,015 (6,744 ) 4,383 Total Liabilities and Shareholders' Equity $ 4,512 $ 12,835 $ 11,077 $ (9,845 ) $ 18,579 Condensed Consolidating Balance Sheet As of July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 621 $ 89 $ 290 $ — $ 1,000 Receivables — 146 277 — 423 Merchandise inventories — 2,500 2,822 — 5,322 Income tax receivable 8 11 — (19 ) — Prepaid expenses and other current assets — 84 387 — 471 Total Current Assets 629 2,830 3,776 (19 ) 7,216 Property and Equipment – net — 3,586 3,601 — 7,187 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 49 453 — 502 Other Assets — 155 749 — 904 Deferred Income Taxes 23 — — (23 ) — Intercompany Receivable — — 2,710 (2,710 ) — Investment in Subsidiaries 4,524 3,247 — (7,771 ) — Total Assets $ 5,176 $ 13,182 $ 11,871 $ (10,523 ) $ 19,706 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 1,062 $ 1 $ — $ 1,063 Merchandise accounts payable — 825 1,052 — 1,877 Accounts payable and accrued liabilities 29 1,380 1,105 — 2,514 Income taxes — — 42 (19 ) 23 Total Current Liabilities 29 3,267 2,200 (19 ) 5,477 Long-Term Debt — 6,549 18 — 6,567 Intercompany Payable 1,043 1,667 — (2,710 ) — Deferred Income Taxes — 653 818 (23 ) 1,448 Other Liabilities 58 573 1,533 — 2,164 Shareholders' Equity: Macy's, Inc. 4,046 473 7,298 (7,771 ) 4,046 Noncontrolling Interest — — 4 — 4 Total Shareholders' Equity 4,046 473 7,302 (7,771 ) 4,050 Total Liabilities and Shareholders' Equity $ 5,176 $ 13,182 $ 11,871 $ (10,523 ) $ 19,706 Condensed Consolidating Balance Sheet As of January 28, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 938 $ 81 $ 278 $ — $ 1,297 Receivables — 169 353 — 522 Merchandise inventories — 2,565 2,834 — 5,399 Prepaid expenses and other current assets — 84 324 — 408 Total Current Assets 938 2,899 3,789 — 7,626 Property and Equipment – net — 3,397 3,620 — 7,017 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 51 447 — 498 Other Assets — 47 766 — 813 Deferred Income Taxes 26 — — (26 ) — Intercompany Receivable 375 — 2,428 (2,803 ) — Investment in Subsidiaries 3,137 3,540 — (6,677 ) — Total Assets $ 4,476 $ 13,249 $ 11,632 $ (9,506 ) $ 19,851 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 306 $ 3 $ — $ 309 Merchandise accounts payable — 590 833 — 1,423 Accounts payable and accrued liabilities 16 1,064 2,483 — 3,563 Income taxes 71 16 265 — 352 Total Current Liabilities 87 1,976 3,584 — 5,647 Long-Term Debt — 6,544 18 — 6,562 Intercompany Payable — 2,803 — (2,803 ) — Deferred Income Taxes — 688 781 (26 ) 1,443 Other Liabilities 66 500 1,311 — 1,877 Shareholders' Equity: Macy's, Inc. 4,323 738 5,939 (6,677 ) 4,323 Noncontrolling Interest — — (1 ) — (1 ) Total Shareholders' Equity 4,323 738 5,938 (6,677 ) 4,322 Total Liabilities and Shareholders' Equity $ 4,476 $ 13,249 $ 11,632 $ (9,506 ) $ 19,851
Condensed Consolidating Statement of Cash Flows [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 187 $ (158 ) $ 370 $ (216 ) $ 183 Settlement charges — 17 34 — 51 Equity in earnings of subsidiaries (186 ) (30 ) — 216 — Dividends received from subsidiaries 340 — — (340 ) — Depreciation and amortization — 178 309 — 487 (Increase) decrease in working capital (46 ) 262 (382 ) — (166 ) Other, net 12 (29 ) (2 ) — (19 ) Net cash provided by operating activities 307 240 329 (340 ) 536 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — 85 (307 ) — (222 ) Other, net — — 9 — 9 Net cash provided (used) by investing activities — 85 (298 ) — (213 ) Cash flows from financing activities: Debt repaid — (550 ) — — (550 ) Dividends paid (230 ) — (340 ) 340 (230 ) Common stock acquired, net of 1 — — — 1 Proceeds from noncontrolling interest — — 6 — 6 Intercompany activity, net (605 ) 259 346 — — Other, net 10 (37 ) (37 ) — (64 ) Net cash used by financing activities (824 ) (328 ) (25 ) 340 (837 ) Net increase (decrease) in cash and (517 ) (3 ) 6 — (514 ) Cash and cash equivalents at beginning of period 938 81 278 — 1,297 Cash and cash equivalents at end of period $ 421 $ 78 $ 284 $ — $ 783 Condensed Consolidating Statement of Cash Flows For the 26 Weeks Ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 127 $ (295 ) $ 451 $ (159 ) $ 124 Impairments and other costs — 184 65 — 249 Settlement charges — 5 14 — 19 Equity in earnings of subsidiaries (127 ) (32 ) — 159 — Dividends received from subsidiaries 303 575 — (878 ) — Depreciation and amortization — 205 315 — 520 (Increase) decrease in working capital 32 367 (722 ) — (323 ) Other, net 17 (37 ) (9 ) — (29 ) Net cash provided by operating activities 352 972 114 (878 ) 560 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net — (50 ) (327 ) — (377 ) Other, net — 43 (4 ) — 39 Net cash used by investing activities — (7 ) (331 ) — (338 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (228 ) — (878 ) 878 (228 ) Common stock acquired, net of (103 ) — — — (103 ) Proceeds from noncontrolling interest — — 4 — 4 Intercompany activity, net (139 ) (937 ) 1,076 — — Other, net (2 ) (27 ) 28 — (1 ) Net cash provided (used) by (472 ) (967 ) 230 878 (331 ) Net increase (decrease) in cash and (120 ) (2 ) 13 — (109 ) Cash and cash equivalents at beginning of period 741 91 277 — 1,109 Cash and cash equivalents at end of period $ 621 $ 89 $ 290 $ — $ 1,000
Condensed Consolidating Statement of Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,186 $ 4,739 $ (1,373 ) $ 5,552 Cost of sales — (1,356 ) (3,330 ) 1,373 (3,313 ) Gross margin — 830 1,409 — 2,239 Selling, general and administrative expenses — (848 ) (1,129 ) — (1,977 ) Gains on sale of real estate — 26 17 — 43 Settlement charges — (17 ) (34 ) — (51 ) Operating income (loss) — (9 ) 263 — 254 Interest (expense) income, net: External 2 (82 ) 1 — (79 ) Intercompany — (34 ) 34 — — Net premiums on early retirement of debt — 2 — — 2 Equity in earnings of subsidiaries 114 39 — (153 ) — Income (loss) before income taxes 116 (84 ) 298 (153 ) 177 Federal, state and local income — 52 (116 ) — (64 ) Net income (loss) 116 (32 ) 182 (153 ) 113 Net loss attributable to noncontrolling interest — — 3 — 3 Net income (loss) attributable to $ 116 $ (32 ) $ 185 $ (153 ) $ 116 Comprehensive income (loss) $ 181 $ 29 $ 226 $ (258 ) $ 178 Comprehensive loss attributable to — — 3 — 3 Comprehensive income (loss) attributable to $ 181 $ 29 $ 229 $ (258 ) $ 181 Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,494 $ 4,989 $ (1,617 ) $ 5,866 Cost of sales — (1,523 ) (3,562 ) 1,617 (3,468 ) Gross margin — 971 1,427 — 2,398 Selling, general and administrative expenses — (957 ) (1,090 ) — (2,047 ) Gains on sale of real estate — 16 5 — 21 Impairments and other costs — (184 ) (65 ) — (249 ) Settlement charges — (2 ) (4 ) — (6 ) Operating income (loss) — (156 ) 273 — 117 Interest (expense) income, net: External — (97 ) — — (97 ) Intercompany — (57 ) 57 — — Equity in earnings of subsidiaries 11 22 — (33 ) — Income (loss) before income taxes 11 (288 ) 330 (33 ) 20 Federal, state and local income — 114 (125 ) — (11 ) Net income (loss) 11 (174 ) 205 (33 ) 9 Net loss attributable to noncontrolling interest — — 2 — 2 Net income (loss) attributable to $ 11 $ (174 ) $ 207 $ (33 ) $ 11 Comprehensive income (loss) $ (6 ) $ (191 ) $ 195 $ (6 ) $ (8 ) Comprehensive loss attributable to — — 2 — 2 Comprehensive income (loss) attributable to $ (6 ) $ (191 ) $ 197 $ (6 ) $ (6 ) Condensed Consolidating Statement of Comprehensive Income For the 26 weeks ended July 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 4,242 $ 9,866 $ (3,218 ) $ 10,890 Cost of sales — (2,735 ) (7,102 ) 3,218 (6,619 ) Gross margin — 1,507 2,764 — 4,271 Selling, general and administrative expenses (1 ) (1,617 ) (2,239 ) — (3,857 ) Gains on sale of real estate — 92 19 — 111 Settlement charges — (17 ) (34 ) — (51 ) Operating income (loss) (1 ) (35 ) 510 — 474 Interest (expense) income, net: External 3 (167 ) 1 — (163 ) Intercompany — (69 ) 69 — — Net premiums on early retirement of debt — (1 ) — — (1 ) Equity in earnings of subsidiaries 186 30 — (216 ) — Income (loss) before income taxes 188 (242 ) 580 (216 ) 310 Federal, state and local income (1 ) 84 (210 ) — (127 ) Net income (loss) 187 (158 ) 370 (216 ) 183 Net loss attributable to noncontrolling interest — — 4 — 4 Net income (loss) attributable to $ 187 $ (158 ) $ 374 $ (216 ) $ 187 Comprehensive income (loss) $ 258 $ (91 ) $ 417 $ (330 ) $ 254 Comprehensive loss attributable to — — 4 — 4 Comprehensive income (loss) attributable to $ 258 $ (91 ) $ 421 $ (330 ) $ 258 Condensed Consolidating Statement of Comprehensive Income For the 26 weeks ended July 30, 2016 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 4,948 $ 10,363 $ (3,674 ) $ 11,637 Cost of sales — (3,127 ) (7,531 ) 3,674 (6,984 ) Gross margin — 1,821 2,832 — 4,653 Selling, general and administrative expenses (1 ) (1,853 ) (2,173 ) — (4,027 ) Gains on sale of real estate — 30 5 — 35 Impairments and other costs — (184 ) (65 ) — (249 ) Settlement charges — (5 ) (14 ) — (19 ) Operating income (loss) (1 ) (191 ) 585 — 393 Interest (expense) income, net: External 1 (196 ) — — (195 ) Intercompany — (115 ) 115 — — Equity in earnings of subsidiaries 127 32 — (159 ) — Income (loss) before income taxes 127 (470 ) 700 (159 ) 198 Federal, state and local income — 175 (249 ) — (74 ) Net income (loss) 127 (295 ) 451 (159 ) 124 Net loss attributable to noncontrolling interest — — 3 — 3 Net income (loss) attributable to $ 127 $ (295 ) $ 454 $ (159 ) $ 127 Comprehensive income (loss) $ 102 $ (320 ) $ 436 $ (119 ) $ 99 Comprehensive loss attributable to — — 3 — 3 Comprehensive income (loss) attributable to $ 102 $ (320 ) $ 439 $ (119 ) $ 102

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 29, 2017USD ($)stores	Jul. 29, 2017USD ($)stores
Net tax deficiencies from share based payment accounting | $	$ 1	$ 12
Number of states in which entity operates	45	45
Minimum [Member]
Number of Stores | stores	850	850

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Millions	6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016
Stock Options [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	16.7	15.7
Restricted Stock Units [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	1.1	1.1

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		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to Macy's, Inc. shareholders	$ 116	$ 11	$ 187	$ 127
Net income available to common stockholders, basic	116	11	187	127
Net income available to common stockholders, diluted	$ 116	$ 11	$ 187	$ 127
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.38	$ 0.03	$ 0.61	$ 0.41
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.38	$ 0.03	$ 0.61	$ 0.41
Average number of shares issued, basic	304.5	308.5	304.4	309.1
Shares to be issued under deferred compensation and other plans	1	0.9	0.8	0.9
Average number of shares outstanding, basic	305.5	309.4	305.2	310
Effect of dilutive securities-stock options, restricted stock and restricted stock units	1	1.9	1.5	2.4
Average number of shares outstanding, diluted	306.5	311.3	306.7	312.4

Financing Activities (Details)

Financing Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Extinguishment of debt			$ 247
Debt Instrument, Interest Rate, Stated Percentage	7.45%		7.45%
Extinguishment of debt cost	$ 257		$ 257
Net premiums on early retirement of debt	$ (2)	$ 0	1	$ 0
7.45% senior debentures due 2017
Extinguishment of debt			$ 300	$ 0

Financing Activities (Detail Of

Financing Activities (Detail Of Debt Repayments) (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016
Extinguishment of debt	$ 247
Debt repaid	550	$ 3
9.5% Amortizing Debentures due 2021
Extinguishment of debt	2	2
9.75% Amortizing Debentures Due 2021
Extinguishment of debt	1	1
7.45% senior debentures due 2017
Extinguishment of debt	300	0
6.375% Senior Notes Due 2037
Extinguishment of debt	135	0
6.9% senior debentures due 2032
Extinguishment of debt	72	0
6.7% Senior Debentures Due 2034
Extinguishment of debt	28	0
6.65% senior debentures due 2024
Extinguishment of debt	4	0
6.9% senior debentures due 2029
Extinguishment of debt	3	0
6.7% senior debentures due 2028
Extinguishment of debt	3	0
7.0% senior debentures due 2028
Extinguishment of debt	$ 2	$ 0

Benefit Plans (Net Periodic Ben

Benefit Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Total Retirement Expense	$ 11	$ 12	$ 20	$ 25
Settlement charges	51	6	51	19
Nonqualified Plan [Member]
Defined contribution plans expense	0	1	0	1
Qualified Plan [Member]
Defined contribution plans expense	24	25	45	49
Pension Plan [Member]
Service cost	2	1	3	2
Interest cost	27	28	54	56
Expected return on assets	(57)	(58)	(113)	(114)
Recognition of net actuarial (gain) loss	8	7	16	15
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(20)	(22)	(40)	(41)
Supplemental Employee Retirement Plan [Member]
Service cost	0	0	0	0
Interest cost	5	6	11	12
Recognition of net actuarial (gain) loss	2	2	4	4
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	7	8	15	16
Other Postretirement Benefits Plan [Member]
Service cost	0	0	0	0
Interest cost	2	1	3	3
Recognition of net actuarial (gain) loss	(1)	(1)	(2)	(2)
Amortization of prior service credit	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 1	$ 0	$ 1	$ 1

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets Measured At Fair Value On A Recurring and Nonrecurring Basis) (Details) - USD ($) $ in Millions	Jul. 29, 2017	Jul. 30, 2016
Marketable equity and debt securities	$ 99	$ 141
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable equity and debt securities	22	18
Significant Observable Inputs (Level 2) [Member]
Marketable equity and debt securities	77	123
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	Jul. 29, 2017	Jul. 30, 2016
Long-term debt	$ 6,217	$ 6,822
Carrying Amount
Long-term debt	6,274	6,540
Notional Amount
Long-term debt	$ 6,209	$ 6,461

Condensed Consolidating Finan27

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Jul. 29, 2017	Jan. 28, 2017	Jul. 30, 2016	Jan. 30, 2016
Current Assets:
Cash and cash equivalents	$ 783	$ 1,297	$ 1,000	$ 1,109
Receivables	382	522	423
Merchandise inventories	4,980	5,399	5,322
Income tax receivable			0
Prepaid expenses and other current assets	412	408	471
Total Current Assets	6,557	7,626	7,216
Property and Equipment - net	6,822	7,017	7,187
Goodwill	3,897	3,897	3,897
Other Intangible Assets - net	493	498	502
Other Assets	810	813	904
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	0	0	0
Total Assets	18,579	19,851	19,706
Current Liabilities:
Short-term debt	16	309	1,063
Merchandise accounts payable	1,669	1,423	1,877
Accounts payable and accrued liabilities	2,873	3,563	2,514
Income taxes	52	352	23
Total Current Liabilities	4,610	5,647	5,477
Long-Term Debt	6,301	6,562	6,567
Intercompany Payable	0	0	0
Deferred Income Taxes	1,512	1,443	1,448
Other Liabilities	1,773	1,877	2,164
Shareholders' Equity, Macy's, Inc.	4,388	4,323	4,046
Shareholders' Equity, noncontrolling interest	(5)	(1)	4
Total Shareholders’ Equity	4,383	4,322	4,050
Total Liabilities and Shareholders' Equity	18,579	19,851	19,706
Parent
Current Assets:
Cash and cash equivalents	421	938	621	741
Receivables	0	0	0
Merchandise inventories	0	0	0
Income tax receivable			8
Prepaid expenses and other current assets	0	0	0
Total Current Assets	421	938	629
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	1	0	0
Deferred Income Taxes	25	26	23
Intercompany Receivable	1,011	375	0
Investment in Subsidiaries	3,054	3,137	4,524
Total Assets	4,512	4,476	5,176
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	24	16	29
Income taxes	28	71	0
Total Current Liabilities	52	87	29
Long-Term Debt	0	0	0
Intercompany Payable	0	0	1,043
Deferred Income Taxes	0	0	0
Other Liabilities	72	66	58
Shareholders' Equity, Macy's, Inc.	4,388	4,323	4,046
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	4,388	4,323	4,046
Total Liabilities and Shareholders' Equity	4,512	4,476	5,176
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	78	81	89	91
Receivables	132	169	146
Merchandise inventories	2,236	2,565	2,500
Income tax receivable			11
Prepaid expenses and other current assets	82	84	84
Total Current Assets	2,528	2,899	2,830
Property and Equipment - net	3,202	3,397	3,586
Goodwill	3,315	3,315	3,315
Other Intangible Assets - net	47	51	49
Other Assets	53	47	155
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	3,690	3,540	3,247
Total Assets	12,835	13,249	13,182
Current Liabilities:
Short-term debt	6	306	1,062
Merchandise accounts payable	698	590	825
Accounts payable and accrued liabilities	900	1,064	1,380
Income taxes	2	16	0
Total Current Liabilities	1,606	1,976	3,267
Long-Term Debt	6,284	6,544	6,549
Intercompany Payable	3,076	2,803	1,667
Deferred Income Taxes	720	688	653
Other Liabilities	425	500	573
Shareholders' Equity, Macy's, Inc.	724	738	473
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	724	738	473
Total Liabilities and Shareholders' Equity	12,835	13,249	13,182
Other Subsidiaries
Current Assets:
Cash and cash equivalents	284	278	290	277
Receivables	250	353	277
Merchandise inventories	2,744	2,834	2,822
Income tax receivable			0
Prepaid expenses and other current assets	330	324	387
Total Current Assets	3,608	3,789	3,776
Property and Equipment - net	3,620	3,620	3,601
Goodwill	582	582	582
Other Intangible Assets - net	446	447	453
Other Assets	756	766	749
Deferred Income Taxes	0	0	0
Intercompany Receivable	2,065	2,428	2,710
Investment in Subsidiaries	0	0	0
Total Assets	11,077	11,632	11,871
Current Liabilities:
Short-term debt	10	3	1
Merchandise accounts payable	971	833	1,052
Accounts payable and accrued liabilities	1,949	2,483	1,105
Income taxes	22	265	42
Total Current Liabilities	2,952	3,584	2,200
Long-Term Debt	17	18	18
Intercompany Payable	0	0	0
Deferred Income Taxes	817	781	818
Other Liabilities	1,276	1,311	1,533
Shareholders' Equity, Macy's, Inc.	6,020	5,939	7,298
Shareholders' Equity, noncontrolling interest	(5)	(1)	4
Total Shareholders’ Equity	6,015	5,938	7,302
Total Liabilities and Shareholders' Equity	11,077	11,632	11,871
Consolidating Adjustments
Current Assets:
Cash and cash equivalents	0	0	0	$ 0
Receivables	0	0	0
Merchandise inventories	0	0	0
Income tax receivable			(19)
Prepaid expenses and other current assets	0	0	0
Total Current Assets	0	0	(19)
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	(25)	(26)	(23)
Intercompany Receivable	(3,076)	(2,803)	(2,710)
Investment in Subsidiaries	(6,744)	(6,677)	(7,771)
Total Assets	(9,845)	(9,506)	(10,523)
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	0	0	0
Income taxes	0	0	(19)
Total Current Liabilities	0	0	(19)
Long-Term Debt	0	0	0
Intercompany Payable	(3,076)	(2,803)	(2,710)
Deferred Income Taxes	(25)	(26)	(23)
Other Liabilities	0	0	0
Shareholders' Equity, Macy's, Inc.	(6,744)	(6,677)	(7,771)
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	(6,744)	(6,677)	(7,771)
Total Liabilities and Shareholders' Equity	$ (9,845)	$ (9,506)	$ (10,523)

Condensed Consolidating Finan28

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Net sales	$ 5,552	$ 5,866	$ 10,890	$ 11,637
Cost of sales	(3,313)	(3,468)	(6,619)	(6,984)
Gross margin	2,239	2,398	4,271	4,653
Selling, general and administrative expenses	(1,977)	(2,047)	(3,857)	(4,027)
Gains on sale of real estate	43	21	111	35
Impairments and other costs	0	(249)	0	(249)
Settlement charges	(51)	(6)	(51)	(19)
Operating Income (Loss)	254	117	474	393
Interest (expense) income, net
External	(79)	(97)	(163)	(195)
Intercompany	0	0	0	0
Net premiums on early retirement of debt	2	0	(1)	0
Income (Loss) from Equity Method Investments	0	0	0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	177	20	310	198
Federal, state and local income tax expense	(64)	(11)	(127)	(74)
Net income (loss)	113	9	183	124
Net loss attributable to noncontrolling interest	3	2	4	3
Net income (loss) attributable to Macy's, Inc. shareholders	116	11	187	127
Comprehensive income (loss)	178	(8)	254	99
Comprehensive loss attributable to noncontrolling interest	3	2	4	3
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	181	(6)	258	102
Parent
Net sales	0	0	0	0
Cost of sales	0	0	0	0
Gross margin	0	0	0	0
Selling, general and administrative expenses	0	0	(1)	(1)
Gains on sale of real estate	0	0	0	0
Impairments and other costs		0		0
Settlement charges	0	0	0	0
Operating Income (Loss)	0	0	(1)	(1)
Interest (expense) income, net
External	2	0	3	1
Intercompany	0	0	0	0
Net premiums on early retirement of debt	0		0
Income (Loss) from Equity Method Investments	114	11	186	127
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	116	11	188	127
Federal, state and local income tax expense	0	0	(1)	0
Net income (loss)	116	11	187	127
Net loss attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	116	11	187	127
Comprehensive income (loss)	181	(6)	258	102
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	181	(6)	258	102
Subsidiary Issuer
Net sales	2,186	2,494	4,242	4,948
Cost of sales	(1,356)	(1,523)	(2,735)	(3,127)
Gross margin	830	971	1,507	1,821
Selling, general and administrative expenses	(848)	(957)	(1,617)	(1,853)
Gains on sale of real estate	26	16	92	30
Impairments and other costs		(184)		(184)
Settlement charges	(17)	(2)	(17)	(5)
Operating Income (Loss)	(9)	(156)	(35)	(191)
Interest (expense) income, net
External	(82)	(97)	(167)	(196)
Intercompany	(34)	(57)	(69)	(115)
Net premiums on early retirement of debt	2		(1)
Income (Loss) from Equity Method Investments	39	22	30	32
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(84)	(288)	(242)	(470)
Federal, state and local income tax expense	52	114	84	175
Net income (loss)	(32)	(174)	(158)	(295)
Net loss attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(32)	(174)	(158)	(295)
Comprehensive income (loss)	29	(191)	(91)	(320)
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	29	(191)	(91)	(320)
Other Subsidiaries
Net sales	4,739	4,989	9,866	10,363
Cost of sales	(3,330)	(3,562)	(7,102)	(7,531)
Gross margin	1,409	1,427	2,764	2,832
Selling, general and administrative expenses	(1,129)	(1,090)	(2,239)	(2,173)
Gains on sale of real estate	17	5	19	5
Impairments and other costs		(65)		(65)
Settlement charges	(34)	(4)	(34)	(14)
Operating Income (Loss)	263	273	510	585
Interest (expense) income, net
External	1	0	1	0
Intercompany	34	57	69	115
Net premiums on early retirement of debt	0		0
Income (Loss) from Equity Method Investments	0	0	0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	298	330	580	700
Federal, state and local income tax expense	(116)	(125)	(210)	(249)
Net income (loss)	182	205	370	451
Net loss attributable to noncontrolling interest	3	2	4	3
Net income (loss) attributable to Macy's, Inc. shareholders	185	207	374	454
Comprehensive income (loss)	226	195	417	436
Comprehensive loss attributable to noncontrolling interest	3	2	4	3
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	229	197	421	439
Consolidating Adjustments
Net sales	(1,373)	(1,617)	(3,218)	(3,674)
Cost of sales	1,373	1,617	3,218	3,674
Gross margin	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Gains on sale of real estate	0	0	0	0
Impairments and other costs		0		0
Settlement charges	0	0	0	0
Operating Income (Loss)	0	0	0	0
Interest (expense) income, net
External	0	0	0	0
Intercompany	0	0	0	0
Net premiums on early retirement of debt	0		0
Income (Loss) from Equity Method Investments	(153)	(33)	(216)	(159)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(153)	(33)	(216)	(159)
Federal, state and local income tax expense	0	0	0	0
Net income (loss)	(153)	(33)	(216)	(159)
Net loss attributable to noncontrolling interest	0	0	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(153)	(33)	(216)	(159)
Comprehensive income (loss)	(258)	(6)	(330)	(119)
Comprehensive loss attributable to noncontrolling interest	0	0	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ (258)	$ (6)	$ (330)	$ (119)

Condensed Consolidating Finan29

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ 113	$ 9	$ 183	$ 124
Impairments and other costs			0	249
Settlement charges			51	19
Equity in earnings of subsidiaries	0	0	0	0
Dividends received from subsidiaries			0	0
Depreciation and amortization			487	520
(Increase) decrease in working capital			(166)	(323)
Other, net			(19)	(29)
Net cash provided (used) by operating activities			536	560
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			(222)	(377)
Other, net			9	39
Net cash used by investing activities			(213)	(338)
Cash flows from financing activities:
Debt repaid			(550)	(3)
Dividends paid			(230)	(228)
(Common stock acquired) net of issuance of common stock			1	(103)
Proceeds from noncontrolling interest			6	4
Intercompany activity, net			0	0
Other, net			(64)	(1)
Net cash provided (used) by financing activities			(837)	(331)
Net increase (decrease) in cash and cash equivalents			(514)	(109)
Cash and cash equivalents beginning of period			1,297	1,109
Cash and cash equivalents end of period	783	1,000	783	1,000
Parent
Cash flows from operating activities:
Net income (loss)	116	11	187	127
Impairments and other costs				0
Settlement charges			0	0
Equity in earnings of subsidiaries	(114)	(11)	(186)	(127)
Dividends received from subsidiaries			340	303
Depreciation and amortization			0	0
(Increase) decrease in working capital			(46)	32
Other, net			12	17
Net cash provided (used) by operating activities			307	352
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			(230)	(228)
(Common stock acquired) net of issuance of common stock			1	(103)
Proceeds from noncontrolling interest			0	0
Intercompany activity, net			(605)	(139)
Other, net			10	(2)
Net cash provided (used) by financing activities			(824)	(472)
Net increase (decrease) in cash and cash equivalents			(517)	(120)
Cash and cash equivalents beginning of period			938	741
Cash and cash equivalents end of period	421	621	421	621
Subsidiary Issuer
Cash flows from operating activities:
Net income (loss)	(32)	(174)	(158)	(295)
Impairments and other costs				184
Settlement charges			17	5
Equity in earnings of subsidiaries	(39)	(22)	(30)	(32)
Dividends received from subsidiaries			0	575
Depreciation and amortization			178	205
(Increase) decrease in working capital			262	367
Other, net			(29)	(37)
Net cash provided (used) by operating activities			240	972
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			85	(50)
Other, net			0	43
Net cash used by investing activities			85	(7)
Cash flows from financing activities:
Debt repaid			(550)	(3)
Dividends paid			0	0
(Common stock acquired) net of issuance of common stock			0	0
Proceeds from noncontrolling interest			0	0
Intercompany activity, net			259	(937)
Other, net			(37)	(27)
Net cash provided (used) by financing activities			(328)	(967)
Net increase (decrease) in cash and cash equivalents			(3)	(2)
Cash and cash equivalents beginning of period			81	91
Cash and cash equivalents end of period	78	89	78	89
Other Subsidiaries
Cash flows from operating activities:
Net income (loss)	182	205	370	451
Impairments and other costs				65
Settlement charges			34	14
Equity in earnings of subsidiaries	0	0	0	0
Dividends received from subsidiaries			0	0
Depreciation and amortization			309	315
(Increase) decrease in working capital			(382)	(722)
Other, net			(2)	(9)
Net cash provided (used) by operating activities			329	114
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net			(307)	(327)
Other, net			9	(4)
Net cash used by investing activities			(298)	(331)
Cash flows from financing activities:
Debt repaid			0	0
Dividends paid			(340)	(878)
(Common stock acquired) net of issuance of common stock			0	0
Proceeds from noncontrolling interest			6	4
Intercompany activity, net			346	1,076
Other, net			(37)	28
Net cash provided (used) by financing activities			(25)	230
Net increase (decrease) in cash and cash equivalents			6	13
Cash and cash equivalents beginning of period			278	277
Cash and cash equivalents end of period	284	290	284	290
Consolidating Adjustments
Cash flows from operating activities:
Net income (loss)	(153)	(33)	(216)	(159)
Impairments and other costs				0
Settlement charges			0	0
Equity in earnings of subsidiaries	153	33	216	159
Dividends received from subsidiaries			(340)	(878)
Depreciation and amortization			0	0
(Increase) decrease in working capital			0	0
Other, net			0	0
Net cash provided (used) by operating activities			(340)	(878)
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			340	878
(Common stock acquired) net of issuance of common stock			0	0
Proceeds from noncontrolling interest			0	0
Intercompany activity, net			0	0
Other, net			0	0
Net cash provided (used) by financing activities			340	878
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	$ 0	$ 0