Macy's (M) 10-Q 1 Jun 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	May 05, 2018shares
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 5, 2018
Document Fiscal Year Focus	2,018
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	--02-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	306,370,666

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Income Statement [Abstract]
Net sales	$ 5,541	$ 5,350
Net Earnings from Credit Operations	157	161
Cost of sales	(3,382)	(3,303)
Selling, general and administrative expenses	(2,083)	(2,057)
Gains on sale of real estate	24	68
Impairments and other costs	(19)	0
Operating income (loss)	238	219
Non-Service Cost Pension, SERP and OPEB	11	13
Interest expense	(71)	(86)
Net premiums on early retirement of debt	0	(3)
Interest income	5	2
Income (loss) before income taxes	183	145
Federal, state and local income tax expense	(52)	(68)
Net income (loss)	131	77
Net loss attributable to noncontrolling interest	8	1
Net income (loss) attributable to Macy's, Inc. shareholders	$ 139	$ 78
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.45	$ 0.26
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.45	$ 0.26

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Net income (loss)	$ 131	$ 77
Amortization of net actuarial loss and prior service credit on post employment and postretirement benefit plans, before tax	9	9
Tax effect related to items of other comprehensive income (loss)	(2)	(3)
Total other comprehensive income (loss), net of tax effect	7	6
Comprehensive income (loss)	138	83
Comprehensive loss attributable to noncontrolling interest	8	1
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ 146	$ 84

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017
Current Assets:
Cash and cash equivalents	$ 1,531	$ 1,455	$ 1,201
Receivables	250	363	345
Merchandise inventories	5,291	5,178	5,626
Prepaid expenses and other current assets	638	650	634
Total Current Assets	7,710	7,646	7,806
Property and Equipment - net	6,575	6,672	6,886
Goodwill	3,908	3,897	3,897
Other Intangible Assets - net	486	488	496
Other Assets	889	880	793
Total Assets	19,568	19,583	19,878
Current Liabilities:
Short-term debt	25	22	313
Merchandise accounts payable	2,045	1,590	2,028
Accounts payable and accrued liabilities	2,695	3,271	3,042
Income taxes	312	296	355
Total Current Liabilities	5,077	5,179	5,738
Long-Term Debt	5,857	5,861	6,412
Deferred Income Taxes	1,169	1,148	1,522
Other Liabilities	1,664	1,662	1,846
Shareholders' Equity, Macy's, Inc.	5,821	5,745	4,362
Shareholders' Equity, noncontrolling interest	(20)	(12)	(2)
Total Shareholders’ Equity	5,801	5,733	4,360
Total Liabilities and Shareholders' Equity	$ 19,568	$ 19,583	$ 19,878

Consolidated Balance Sheets (pa

Consolidated Balance Sheets (parenthetical) - USD ($) $ in Millions	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017
Accumulated depreciation	$ 4,765	$ 4,610	$ 5,013

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Net income (loss)	$ 131	$ 77
Adjustments to reconcile net income to net cash provided by operating activities:
Impairments and other costs	19	0
Depreciation and amortization	235	243
Stock-based compensation expense	17	13
Gains on sale of real estate	(24)	(68)
Changes in assets and liabilities:
Decrease in receivables	105	170
Increase in merchandise inventories	(115)	(227)
Increase in prepaid expenses and other current assets	(20)	(16)
Increase in merchandise accounts payable	415	573
Decrease in accounts payable, accrued liabilities and other items not separately identified	(444)	(545)
Increase in current income taxes	25	3
Increase in deferred income taxes	19	41
Change in Other assets and liabilities not separately identified	(41)	(27)
Net cash provided (used) by operating activities	322	237
Cash flows from investing activities:
Purchase of property and equipment	(132)	(117)
Capitalized software	(58)	(60)
Disposition of property and equipment	23	96
Other, net	11	21
Net cash used by investing activities	(156)	(60)
Cash flows from financing activities:
Debt repaid	(3)	(152)
Dividends paid	(116)	(115)
Increase (decrease) in outstanding checks	(10)	(10)
Acquisition of treasury stock	0	(1)
Issuance of common stock	28	2
Proceeds from noncontrolling interest	2	3
Net cash provided (used) by financing activities	(99)	(273)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	67	(96)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	1,513	1,334
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,580	1,238
Supplemental cash flow information:
Interest paid	65	76
Interest received	5	2
Income taxes paid (net of refunds received)	$ 8	$ 16

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	May 05, 2018
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, bluemercury and STORY in 44 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 February 3, 2018 (the "2017 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2017 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 weeks ended May 5, 2018 and April 29, 2017 , 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 May 5, 2018 and April 29, 2017 (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 in the most recent years and adoption of new accounting standards as discussed in more detail below. 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 May 5, 2018 and April 29, 2017 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. Revenue Revenue is recognized when customers obtain control of goods and services promised by the Company. The amount of revenue recognized is based on the amount that reflects the consideration that is expected to be received in exchange for those respective goods and services. The Company's revenue generating activities include the following: Retail Sales Retail sales include merchandise sales, licensed department income, sales of private brand goods directly to third party retailers and sales of excess inventory to third parties. Sales of merchandise are recorded at the time of shipment to the customer and are reported net of estimated merchandise returns and certain customer incentives. Commissions earned on sales generated by licensed departments are included as a component of total net sales and are recognized as revenue at the time merchandise is sold to customers. Service revenues (e.g., alteration and cosmetic services) are recorded at the time the customer receives the benefit of the service. The Company has elected to present sales taxes on a net basis and, as such, sales taxes are included in Accounts Payable and Accrued Liabilities until remitted to the taxing authorities. For each of the 13 weeks ended May 5, 2018 and April 29, 2017 , Macy's accounted for 88% of the Company's net sales. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 5, 2018 and April 29, 2017 were as follows: 13 weeks ended Net sales by family of business May 5, 2018 April 29, 2017 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 2,165 $ 2,069 Women's Apparel 1,354 1,333 Men's and Children's 1,175 1,115 Home/Other (a) 847 833 Total $ 5,541 $ 5,350 (a) Other primarily includes restaurant sales and breakage income from unredeemed gift cards. Merchandise Returns The Company estimates merchandise returns using historical data and recognizes an allowance that reduces net sales and cost of sales. The liability for merchandise returns is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $298 million , $291 million and $338 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively. Included in Prepaid Expenses and Other Current Assets is an asset totaling $204 million , $201 million and $236 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively, for the right to recover products from customers associated with estimated merchandise returns. Credit Card Revenues, net In 2005, the Company entered into an arrangement with Citibank to sell the Company's private label and co-branded credit cards ("Credit Card Program"). Subsequent to this initial arrangement and associated amendments, in 2014, the Company entered into an amended and restated Credit Card Program Agreement (the "Program Agreement") with Citibank. As part of the Program Agreement, the Company receives payments for providing a combination of interrelated services and intellectual property to Citibank in support of the underlying Credit Card Program. Revenue based on the spending activity of the underlying accounts is recognized as the respective card purchases occur and the Company’s profit share is recognized based on the performance of the underlying portfolio. Revenue associated with the establishment of new credit accounts and assisting in the receipt of payments for existing accounts is recognized as such activities occur. Credit card revenues include finance charges, late fees and other revenue generated by the Company’s Credit Card Program, net of fraud losses and expenses associated with establishing new accounts. Customer Loyalty Programs The Company maintains customer loyalty programs in which customers earn points based on their purchases. Under the Macy’s brand, points are earned based on customers’ spending on Macy’s private label and co-branded credit cards as well as non-proprietary cards during certain tender-neutral promotional events. Under the Bloomingdale’s brand, the Company offers a tender neutral points-based program. The Company recognizes the estimated net amount of the rewards that will be earned and redeemed as a reduction to net sales at the time of the initial transaction and as tender when the points are subsequently redeemed by a customer. The liability for customer loyalty programs is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $71 million , $73 million and $60 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively. Gift Cards The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold, no revenue is recognized; rather, the Company records an accrued liability to customers. The liability is relieved and revenue is recognized equal to the amount redeemed at the time gift cards are redeemed for merchandise. The Company records revenue from unredeemed gift cards (breakage) in net sales in proportion over the time period gift cards are actually redeemed. At least three years of historical data, updated annually, is used to determine actual redemption patterns. The liability for unredeemed gift cards is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $656 million , $821 million and $651 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively. Newly Adopted Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers, which established principles to report useful information to financial statements users about the nature, timing and uncertainty of revenue from contracts with customers. ASU No. 2014-09 along with various related amendments comprise ASC Topic 606, Revenue from Contracts with Customers, and provide guidance that is applicable to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. The new standard and its related updates were adopted by the Company on February 4, 2018. On the effective date, the Company elected to apply the new guidance retrospectively to each prior reporting period presented which resulted in an increase to retained earnings of $72 million and $54 million at the beginning of fiscal 2018 and fiscal 2017, respectively. Overall, the new standard did not have a material impact to the results of the Company's operations or consolidated statements of financial position, but impacted the presentation and timing of certain revenue transactions. Specifically, the changes included gross presentation of the Company's estimates for future sales returns and related recoverable assets, presenting income from credit operations, gift card breakage income, and certain loyalty program income as separate components of revenue and recognizing gift card breakage revenue over the period of redemption for gift cards associated with certain returns. The Company's evaluation of the new standards included a review of certain vendor arrangements to determine whether the Company acts as principal or agent in such arrangements and such evaluation did not result in any material changes in gross versus net presentation as a result of the adoption of the new standards. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (ASC Topic 715), which requires employers to disaggregate the service cost component from other components of net periodic benefit costs and to disclose the amounts of net periodic benefit costs that are included in each income statement line item. The standard requires employers to report the service cost component in the same line item as other compensation costs and to report the other components of net periodic benefit costs (which include interest costs, expected return on plan assets, amortization of prior service cost or credits and actuarial gains and losses) separately and outside a subtotal of operating income. The Company adopted this standard effective February 4, 2018 on a retrospective basis and has recognized its net periodic benefit costs, excluding service costs, in Benefit Plan Income, net on its consolidated statements of income. In 2016 the FASB issued ASU No. 2016-18, Statement of Cash Flows (ASC Topic 230): Restricted Cash, and ASU No. 2016-15, Statement of Cash Flows (ASC Topic 230): Classification of Certain Cash Receipts and Cash Payments. These standards were issued to resolve numerous diversities in practice with regard to the presentation and classification of certain cash receipts and payments in the statement of cash flows. The standards were effective for the Company on February 4, 2018, and were adopted using a retrospective transition method to each period presented. As a result of these standards, the Company included its beginning-of-period restricted cash balances of $58 million and end-of-period restricted cash balances of $49 million when reconciling the consolidated statement of cash flow movement for the first quarter of 2018. Similarly, for the first quarter of 2017, the Company included its beginning-of-period restricted cash balances of $37 million and end-of-period restricted cash balances of $37 million . In addition to these changes, the Company changed the classification of $3 million of cash payments for the prepayment of debt from an operating outflow to a financing outflow for the first quarter of 2017. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows for stranded tax effects in accumulated other comprehensive income resulting from H.R. 1, originally known as the “Tax Cuts and Jobs Act,” to be reclassified to retained earnings. The Company early adopted this standard during the first quarter of 2018 and, as a result, reclassified $164 million of stranded tax effects to retained earnings.

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 05, 2018
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 May 5, 2018 April 29, 2017 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 139 305.7 $ 78 304.3 Shares to be issued under deferred 0.9 0.7 $ 139 306.6 $ 78 305.0 Basic earnings per share attributable to $ .45 $ .26 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 2.8 1.9 $ 139 309.4 $ 78 306.9 Diluted earnings per share attributable to $ .45 $ .26 In addition to the stock options 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 2.5 million shares of common stock were outstanding at May 5, 2018 , 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. In addition to the stock options and restricted stock units reflected in the foregoing tables, stock options to purchase 16.2 million shares of common stock and restricted stock units relating to 1.6 million shares of common stock were outstanding at April 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.

Financing Activities

Financing Activities	3 Months Ended
	May 05, 2018
Financing Activities [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 13 weeks ended May 5, 2018 April 29, 2017 (millions) 6.375% Senior notes due 2037 $ — $ 135 6.7% Senior debentures due 2034 — 11 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 $ 3 $ 149 During the 13 weeks ended April 29, 2017 , the Company repurchased $146 million face value of senior notes and debentures. The debt repurchases were made in the open market for a total cost of $149 million , including expenses related to the transactions. Such repurchases resulted in the recognition of additional interest expense of $3 million during the 13 weeks ended April 29, 2017 . This additional interest expense is presented as premium on early retirement of debt on the consolidated statements of income.

Benefit Plans

Benefit Plans	3 Months Ended
	May 05, 2018
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 May 5, 2018 April 29, 2017 (millions) 401(k) Qualified Defined Contribution Plan $ 23 $ 21 Non-Qualified Defined Contribution Plan $ — $ — Pension Plan Service cost $ 2 $ 1 Interest cost 26 27 Expected return on assets (53 ) (56 ) Recognition of net actuarial loss 8 8 Amortization of prior service credit — — $ (17 ) $ (20 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 6 6 Recognition of net actuarial loss 2 2 Amortization of prior service cost — — $ 8 $ 8 Total Retirement Expense $ 14 $ 9 Postretirement Obligations Service cost $ — $ — Interest cost 1 1 Recognition of net actuarial gain (1 ) (1 ) Amortization of prior service credit — — $ — $ —

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 05, 2018
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: May 5, 2018 April 29, 2017 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 $ 96 $ 25 $ 71 $ — $ 90 $ 21 $ 69 $ — Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, receivables, certain short-term investments and other assets, 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, excluding capital leases and other obligations: May 5, 2018 April 29, 2017 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 5,803 $ 5,832 $ 5,621 $ 6,310 $ 6,385 $ 6,251

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	May 05, 2018
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 weeks ended May 5, 2018 and April 29, 2017 , Condensed Consolidating Balance Sheets as of May 5, 2018 , April 29, 2017 and February 3, 2018 , and the related Condensed Consolidating Statements of Cash Flows for the 13 weeks ended May 5, 2018 and April 29, 2017 are presented on the following pages. Condensed Consolidating Statement of Comprehensive Income For the 13 weeks ended May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,008 $ 5,363 $ (1,830 ) $ 5,541 Credit card revenues (expense), net — (6 ) 163 — 157 Cost of sales — (1,320 ) (3,892 ) 1,830 (3,382 ) Selling, general and administrative expenses — (828 ) (1,255 ) — (2,083 ) Gains on sale of real estate — 23 1 — 24 Impairment and other costs — — (19 ) — (19 ) Operating income (loss) — (123 ) 361 — 238 Benefit plan income, net — 4 7 — 11 Interest (expense) income, net: External 4 (71 ) 1 — (66 ) Intercompany — (18 ) 18 — — Equity in earnings of subsidiaries 136 102 — (238 ) — Income (loss) before income taxes 140 (106 ) 387 (238 ) 183 Federal, state and local income (1 ) 37 (88 ) — (52 ) Net income (loss) 139 (69 ) 299 (238 ) 131 Net loss attributable to noncontrolling interest — — 8 — 8 Net income (loss) attributable to $ 139 $ (69 ) $ 307 $ (238 ) $ 139 Comprehensive income (loss) $ 146 $ (63 ) $ 303 $ (248 ) $ 138 Comprehensive loss attributable to — — 8 — 8 Comprehensive income (loss) attributable to $ 146 $ (63 ) $ 311 $ (248 ) $ 146 Condensed Consolidating Statement of Comprehensive Income For the 13 weeks ended April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,064 $ 5,130 $ (1,844 ) $ 5,350 Credit card revenues (expense), net — (6 ) 167 — 161 Cost of sales — (1,386 ) (3,761 ) 1,844 (3,303 ) Selling, general and administrative expenses (1 ) (767 ) (1,289 ) — (2,057 ) Gains on sale of real estate — 65 3 — 68 Operating income (loss) (1 ) (30 ) 250 — 219 Benefit plan income, net — 5 8 — 13 Interest (expense) income, net: External 1 (85 ) — — (84 ) Intercompany — (34 ) 34 — — Premiums on early retirement of debt — (3 ) — — (3 ) Equity in earnings of subsidiaries 78 1 — (79 ) — Income (loss) before income taxes 78 (146 ) 292 (79 ) 145 Federal, state and local income — 26 (94 ) — (68 ) Net income (loss) 78 (120 ) 198 (79 ) 77 Net loss attributable to noncontrolling interest — — 1 — 1 Net income (loss) attributable to $ 78 $ (120 ) $ 199 $ (79 ) $ 78 Comprehensive income (loss) $ 84 $ (114 ) $ 202 $ (89 ) $ 83 Comprehensive loss attributable to — — 1 — 1 Comprehensive income (loss) attributable to $ 84 $ (114 ) $ 203 $ (89 ) $ 84 Condensed Consolidating Balance Sheet As of May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,070 $ 79 $ 382 $ — $ 1,531 Receivables — 48 202 — 250 Merchandise inventories — 2,283 3,008 — 5,291 Prepaid expenses and other current assets — 150 488 — 638 Total Current Assets 1,070 2,560 4,080 — 7,710 Property and Equipment – net — 3,298 3,277 — 6,575 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 43 443 — 486 Other Assets 1 96 792 — 889 Deferred Income Taxes 5 — — (5 ) — Intercompany Receivable 1,156 — 2,113 (3,269 ) — Investment in Subsidiaries 3,975 4,232 — (8,207 ) — Total Assets $ 6,207 $ 13,555 $ 11,287 $ (11,481 ) $ 19,568 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 19 $ — $ 25 Merchandise accounts payable — 896 1,149 — 2,045 Accounts payable and accrued liabilities 109 784 1,802 — 2,695 Income taxes 253 35 24 — 312 Total Current Liabilities 362 1,721 2,994 — 5,077 Long-Term Debt — 5,841 16 — 5,857 Intercompany Payable — 3,269 — (3,269 ) — Deferred Income Taxes — 570 604 (5 ) 1,169 Other Liabilities 24 416 1,224 — 1,664 Shareholders' Equity: Macy's, Inc. 5,821 1,738 6,469 (8,207 ) 5,821 Noncontrolling Interest — — (20 ) — (20 ) Total Shareholders' Equity 5,821 1,738 6,449 (8,207 ) 5,801 Total Liabilities and Shareholders' Equity $ 6,207 $ 13,555 $ 11,287 $ (11,481 ) $ 19,568 Condensed Consolidating Balance Sheet As of April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 779 $ 99 $ 323 $ — $ 1,201 Receivables — 118 227 — 345 Merchandise inventories — 2,560 3,066 — 5,626 Prepaid expenses and other current assets — 150 484 — 634 Total Current Assets 779 2,927 4,100 — 7,806 Property and Equipment – net — 3,479 3,407 — 6,886 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 49 447 — 496 Other Assets — 45 748 — 793 Deferred Income Taxes 24 — — (24 ) — Intercompany Receivable 902 — 2,092 (2,994 ) — Investment in Subsidiaries 3,063 3,598 — (6,661 ) — Total Assets $ 4,768 $ 13,413 $ 11,376 $ (9,679 ) $ 19,878 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 306 $ 7 $ — $ 313 Merchandise accounts payable — 841 1,187 — 2,028 Accounts payable and accrued liabilities 22 962 2,058 — 3,042 Income taxes 317 6 32 — 355 Total Current Liabilities 339 2,115 3,284 — 5,738 Long-Term Debt — 6,395 17 — 6,412 Intercompany Payable — 2,994 — (2,994 ) — Deferred Income Taxes — 733 813 (24 ) 1,522 Other Liabilities 67 498 1,281 — 1,846 Shareholders' Equity: Macy's, Inc. 4,362 678 5,983 (6,661 ) 4,362 Noncontrolling Interest — — (2 ) — (2 ) Total Shareholders' Equity 4,362 678 5,981 (6,661 ) 4,360 Total Liabilities and Shareholders' Equity $ 4,768 $ 13,413 $ 11,376 $ (9,679 ) $ 19,878 Condensed Consolidating Balance Sheet As of February 3, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,109 $ 58 $ 288 $ — $ 1,455 Receivables — 85 278 — 363 Merchandise inventories — 2,344 2,834 — 5,178 Prepaid expenses and other current assets — 165 485 — 650 Total Current Assets 1,109 2,652 3,885 — 7,646 Property and Equipment – net — 3,349 3,323 — 6,672 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 44 444 — 488 Other Assets 1 89 790 — 880 Deferred Income Taxes 11 — — (11 ) — Intercompany Receivable 884 — 2,388 (3,272 ) — Investment in Subsidiaries 4,032 4,126 — (8,158 ) — Total Assets $ 6,037 $ 13,575 $ 11,412 $ (11,441 ) $ 19,583 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 16 $ — $ 22 Merchandise accounts payable — 653 937 — 1,590 Accounts payable and accrued liabilities 159 980 2,132 — 3,271 Income taxes 113 30 153 — 296 Total Current Liabilities 272 1,669 3,238 — 5,179 Long-Term Debt — 5,844 17 — 5,861 Intercompany Payable — 3,272 — (3,272 ) — Deferred Income Taxes — 559 600 (11 ) 1,148 Other Liabilities 20 430 1,212 — 1,662 Shareholders' Equity: Macy's, Inc. 5,745 1,801 6,357 (8,158 ) 5,745 Noncontrolling Interest — — (12 ) — (12 ) Total Shareholders' Equity 5,745 1,801 6,345 (8,158 ) 5,733 Total Liabilities and Shareholders' Equity $ 6,037 $ 13,575 $ 11,412 $ (11,441 ) $ 19,583 Condensed Consolidating Statement of Cash Flows For the 13 weeks ended May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 139 $ (69 ) $ 299 $ (238 ) $ 131 Impairment and other costs — — 19 — 19 Equity in earnings of subsidiaries (136 ) (102 ) — 238 — Dividends received from subsidiaries 200 — — (200 ) — Depreciation and amortization — 82 153 — 235 Gains on sale of real estate — (23 ) (1 ) — (24 ) Changes in assets, liabilities and other items not separately identified 150 175 (364 ) — (39 ) Net cash provided by operating activities 353 63 106 (200 ) 322 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (50 ) (117 ) — (167 ) Other, net — (10 ) 21 — 11 Net cash used by investing activities — (60 ) (96 ) — (156 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (116 ) — (200 ) 200 (116 ) Issuance of common stock, net of common stock acquired 28 — — — 28 Proceeds from noncontrolling interest — — 2 — 2 Intercompany activity, net (254 ) (10 ) 264 — — Other, net (50 ) 23 17 — (10 ) Net cash provided (used) by financing activities (392 ) 10 83 200 (99 ) Net increase (decrease) in cash, cash equivalents and restricted cash (39 ) 13 93 — 67 Cash, cash equivalents and restricted cash at beginning of period 1,109 79 325 — 1,513 Cash, cash equivalents and restricted cash at end of period $ 1,070 $ 92 $ 418 $ — $ 1,580 Condensed Consolidating Statement of Cash Flows For the 13 weeks ended April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 78 $ (120 ) $ 198 $ (79 ) $ 77 Equity in earnings of subsidiaries (78 ) (1 ) — 79 — Dividends received from subsidiaries 211 — — (211 ) — Depreciation and amortization — 89 154 — 243 Gains on sale of real estate — (65 ) (3 ) — (68 ) Changes in assets, liabilities and other items not separately identified 251 241 (507 ) — (15 ) Net cash provided (used) by operating activities 462 144 (158 ) (211 ) 237 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — 58 (139 ) — (81 ) Other, net — — 21 — 21 Net cash provided (used) by investing activities — 58 (118 ) — (60 ) Cash flows from financing activities: Debt repaid — (152 ) — — (152 ) Dividends paid (115 ) — (211 ) 211 (115 ) Issuance of common stock, net of common stock acquired 1 — — — 1 Proceeds from noncontrolling interest — — 3 — 3 Intercompany activity, net (515 ) (1 ) 516 — — Other, net 8 (31 ) 13 — (10 ) Net cash provided (used) by (621 ) (184 ) 321 211 (273 ) Net increase (decrease) in cash, cash equivalents and restricted cash (159 ) 18 45 — (96 ) Cash, cash equivalents and restricted cash at beginning of period 938 81 315 — 1,334 Cash, cash equivalents and restricted cash at end of period $ 779 $ 99 $ 360 $ — $ 1,238

Summary of Significant Accoun13

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	May 05, 2018
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, bluemercury and STORY in 44 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 weeks ended May 5, 2018 and April 29, 2017 , 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 in the most recent years
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 May 5, 2018 and April 29, 2017 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 In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers, which established principles to report useful information to financial statements users about the nature, timing and uncertainty of revenue from contracts with customers. ASU No. 2014-09 along with various related amendments comprise ASC Topic 606, Revenue from Contracts with Customers, and provide guidance that is applicable to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. The new standard and its related updates were adopted by the Company on February 4, 2018. On the effective date, the Company elected to apply the new guidance retrospectively to each prior reporting period presented which resulted in an increase to retained earnings of $72 million and $54 million at the beginning of fiscal 2018 and fiscal 2017, respectively. Overall, the new standard did not have a material impact to the results of the Company's operations or consolidated statements of financial position, but impacted the presentation and timing of certain revenue transactions. Specifically, the changes included gross presentation of the Company's estimates for future sales returns and related recoverable assets, presenting income from credit operations, gift card breakage income, and certain loyalty program income as separate components of revenue and recognizing gift card breakage revenue over the period of redemption for gift cards associated with certain returns. The Company's evaluation of the new standards included a review of certain vendor arrangements to determine whether the Company acts as principal or agent in such arrangements and such evaluation did not result in any material changes in gross versus net presentation as a result of the adoption of the new standards. In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (ASC Topic 715), which requires employers to disaggregate the service cost component from other components of net periodic benefit costs and to disclose the amounts of net periodic benefit costs that are included in each income statement line item. The standard requires employers to report the service cost component in the same line item as other compensation costs and to report the other components of net periodic benefit costs (which include interest costs, expected return on plan assets, amortization of prior service cost or credits and actuarial gains and losses) separately and outside a subtotal of operating income. The Company adopted this standard effective February 4, 2018 on a retrospective basis and has recognized its net periodic benefit costs, excluding service costs, in Benefit Plan Income, net on its consolidated statements of income. In 2016 the FASB issued ASU No. 2016-18, Statement of Cash Flows (ASC Topic 230): Restricted Cash, and ASU No. 2016-15, Statement of Cash Flows (ASC Topic 230): Classification of Certain Cash Receipts and Cash Payments. These standards were issued to resolve numerous diversities in practice with regard to the presentation and classification of certain cash receipts and payments in the statement of cash flows. The standards were effective for the Company on February 4, 2018, and were adopted using a retrospective transition method to each period presented. As a result of these standards, the Company included its beginning-of-period restricted cash balances of $58 million and end-of-period restricted cash balances of $49 million when reconciling the consolidated statement of cash flow movement for the first quarter of 2018. Similarly, for the first quarter of 2017, the Company included its beginning-of-period restricted cash balances of $37 million and end-of-period restricted cash balances of $37 million . In addition to these changes, the Company changed the classification of $3 million of cash payments for the prepayment of debt from an operating outflow to a financing outflow for the first quarter of 2017. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which allows for stranded tax effects in accumulated other comprehensive income resulting from H.R. 1, originally known as the “Tax Cuts and Jobs Act,” to be reclassified to retained earnings. The Company early adopted this standard during the first quarter of 2018 and, as a result, reclassified $164 million of stranded tax effects to retained earnings.
Revenue Recognition, Policy [Policy Text Block]	Credit Card Revenues, net In 2005, the Company entered into an arrangement with Citibank to sell the Company's private label and co-branded credit cards ("Credit Card Program"). Subsequent to this initial arrangement and associated amendments, in 2014, the Company entered into an amended and restated Credit Card Program Agreement (the "Program Agreement") with Citibank. As part of the Program Agreement, the Company receives payments for providing a combination of interrelated services and intellectual property to Citibank in support of the underlying Credit Card Program. Revenue based on the spending activity of the underlying accounts is recognized as the respective card purchases occur and the Company’s profit share is recognized based on the performance of the underlying portfolio. Revenue associated with the establishment of new credit accounts and assisting in the receipt of payments for existing accounts is recognized as such activities occur. Credit card revenues include finance charges, late fees and other revenue generated by the Company’s Credit Card Program, net of fraud losses and expenses associated with establishing new accounts. Gift Cards The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold, no revenue is recognized; rather, the Company records an accrued liability to customers. The liability is relieved and revenue is recognized equal to the amount redeemed at the time gift cards are redeemed for merchandise. The Company records revenue from unredeemed gift cards (breakage) in net sales in proportion over the time period gift cards are actually redeemed. At least three years of historical data, updated annually, is used to determine actual redemption patterns. The liability for unredeemed gift cards is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $656 million , $821 million and $651 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively. Revenue Revenue is recognized when customers obtain control of goods and services promised by the Company. The amount of revenue recognized is based on the amount that reflects the consideration that is expected to be received in exchange for those respective goods and services. The Company's revenue generating activities include the following: Retail Sales Retail sales include merchandise sales, licensed department income, sales of private brand goods directly to third party retailers and sales of excess inventory to third parties. Sales of merchandise are recorded at the time of shipment to the customer and are reported net of estimated merchandise returns and certain customer incentives. Commissions earned on sales generated by licensed departments are included as a component of total net sales and are recognized as revenue at the time merchandise is sold to customers. Service revenues (e.g., alteration and cosmetic services) are recorded at the time the customer receives the benefit of the service. The Company has elected to present sales taxes on a net basis and, as such, sales taxes are included in Accounts Payable and Accrued Liabilities until remitted to the taxing authorities. For each of the 13 weeks ended May 5, 2018 and April 29, 2017 , Macy's accounted for 88% of the Company's net sales. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 5, 2018 and April 29, 2017 were as follows: 13 weeks ended Net sales by family of business May 5, 2018 April 29, 2017 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 2,165 $ 2,069 Women's Apparel 1,354 1,333 Men's and Children's 1,175 1,115 Home/Other (a) 847 833 Total $ 5,541 $ 5,350 (a) Other primarily includes restaurant sales and breakage income from unredeemed gift cards.
Revenue Recognition, Sales Returns [Policy Text Block]	Merchandise Returns The Company estimates merchandise returns using historical data and recognizes an allowance that reduces net sales and cost of sales. The liability for merchandise returns is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $298 million , $291 million and $338 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively. Included in Prepaid Expenses and Other Current Assets is an asset totaling $204 million , $201 million and $236 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively, for the right to recover products from customers associated with estimated merchandise returns.
Revenue Recognition, Loyalty Programs [Policy Text Block]	Customer Loyalty Programs The Company maintains customer loyalty programs in which customers earn points based on their purchases. Under the Macy’s brand, points are earned based on customers’ spending on Macy’s private label and co-branded credit cards as well as non-proprietary cards during certain tender-neutral promotional events. Under the Bloomingdale’s brand, the Company offers a tender neutral points-based program. The Company recognizes the estimated net amount of the rewards that will be earned and redeemed as a reduction to net sales at the time of the initial transaction and as tender when the points are subsequently redeemed by a customer. The liability for customer loyalty programs is included in Accounts Payable and Accrued Liabilities on the Company's consolidated balance sheets and was $71 million , $73 million and $60 million as of May 5, 2018, February 3, 2018 and April 29, 2017, respectively.

Summary of Significant Accoun14

Summary of Significant Accounting Policies Disaggregation of Revenue (Tables)	3 Months Ended
	May 05, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Disaggregation of Revenue [Table Text Block]	For each of the 13 weeks ended May 5, 2018 and April 29, 2017 , Macy's accounted for 88% of the Company's net sales. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 5, 2018 and April 29, 2017 were as follows: 13 weeks ended Net sales by family of business May 5, 2018 April 29, 2017 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 2,165 $ 2,069 Women's Apparel 1,354 1,333 Men's and Children's 1,175 1,115 Home/Other (a) 847 833 Total $ 5,541 $ 5,350 (a) Other primarily includes restaurant sales and breakage income from unredeemed gift cards.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 05, 2018
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 May 5, 2018 April 29, 2017 Net Shares Net Shares (millions, except per share data) Net income attributable to Macy's, Inc. shareholders and $ 139 305.7 $ 78 304.3 Shares to be issued under deferred 0.9 0.7 $ 139 306.6 $ 78 305.0 Basic earnings per share attributable to $ .45 $ .26 Effect of dilutive securities: Stock options, restricted stock and restricted stock units 2.8 1.9 $ 139 309.4 $ 78 306.9 Diluted earnings per share attributable to $ .45 $ .26

Financing Activities Financing

Financing Activities Financing Activites (Tables)	3 Months Ended
	May 05, 2018
Extinguishment of Debt [Line Items]
Detail of Debt Repayments	The following table shows the detail of debt repayments: 13 weeks ended May 5, 2018 April 29, 2017 (millions) 6.375% Senior notes due 2037 $ — $ 135 6.7% Senior debentures due 2034 — 11 9.5% amortizing debentures due 2021 2 2 9.75% amortizing debentures due 2021 1 1 $ 3 $ 149

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	May 05, 2018
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 May 5, 2018 April 29, 2017 (millions) 401(k) Qualified Defined Contribution Plan $ 23 $ 21 Non-Qualified Defined Contribution Plan $ — $ — Pension Plan Service cost $ 2 $ 1 Interest cost 26 27 Expected return on assets (53 ) (56 ) Recognition of net actuarial loss 8 8 Amortization of prior service credit — — $ (17 ) $ (20 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 6 6 Recognition of net actuarial loss 2 2 Amortization of prior service cost — — $ 8 $ 8 Total Retirement Expense $ 14 $ 9 Postretirement Obligations Service cost $ — $ — Interest cost 1 1 Recognition of net actuarial gain (1 ) (1 ) Amortization of prior service credit — — $ — $ —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 05, 2018
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: May 5, 2018 April 29, 2017 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 $ 96 $ 25 $ 71 $ — $ 90 $ 21 $ 69 $ —
Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt, excluding capital leases and other obligations: May 5, 2018 April 29, 2017 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 5,803 $ 5,832 $ 5,621 $ 6,310 $ 6,385 $ 6,251

Condensed Consolidating Finan19

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	May 05, 2018
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,070 $ 79 $ 382 $ — $ 1,531 Receivables — 48 202 — 250 Merchandise inventories — 2,283 3,008 — 5,291 Prepaid expenses and other current assets — 150 488 — 638 Total Current Assets 1,070 2,560 4,080 — 7,710 Property and Equipment – net — 3,298 3,277 — 6,575 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 43 443 — 486 Other Assets 1 96 792 — 889 Deferred Income Taxes 5 — — (5 ) — Intercompany Receivable 1,156 — 2,113 (3,269 ) — Investment in Subsidiaries 3,975 4,232 — (8,207 ) — Total Assets $ 6,207 $ 13,555 $ 11,287 $ (11,481 ) $ 19,568 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 19 $ — $ 25 Merchandise accounts payable — 896 1,149 — 2,045 Accounts payable and accrued liabilities 109 784 1,802 — 2,695 Income taxes 253 35 24 — 312 Total Current Liabilities 362 1,721 2,994 — 5,077 Long-Term Debt — 5,841 16 — 5,857 Intercompany Payable — 3,269 — (3,269 ) — Deferred Income Taxes — 570 604 (5 ) 1,169 Other Liabilities 24 416 1,224 — 1,664 Shareholders' Equity: Macy's, Inc. 5,821 1,738 6,469 (8,207 ) 5,821 Noncontrolling Interest — — (20 ) — (20 ) Total Shareholders' Equity 5,821 1,738 6,449 (8,207 ) 5,801 Total Liabilities and Shareholders' Equity $ 6,207 $ 13,555 $ 11,287 $ (11,481 ) $ 19,568 Condensed Consolidating Balance Sheet As of April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 779 $ 99 $ 323 $ — $ 1,201 Receivables — 118 227 — 345 Merchandise inventories — 2,560 3,066 — 5,626 Prepaid expenses and other current assets — 150 484 — 634 Total Current Assets 779 2,927 4,100 — 7,806 Property and Equipment – net — 3,479 3,407 — 6,886 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 49 447 — 496 Other Assets — 45 748 — 793 Deferred Income Taxes 24 — — (24 ) — Intercompany Receivable 902 — 2,092 (2,994 ) — Investment in Subsidiaries 3,063 3,598 — (6,661 ) — Total Assets $ 4,768 $ 13,413 $ 11,376 $ (9,679 ) $ 19,878 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 306 $ 7 $ — $ 313 Merchandise accounts payable — 841 1,187 — 2,028 Accounts payable and accrued liabilities 22 962 2,058 — 3,042 Income taxes 317 6 32 — 355 Total Current Liabilities 339 2,115 3,284 — 5,738 Long-Term Debt — 6,395 17 — 6,412 Intercompany Payable — 2,994 — (2,994 ) — Deferred Income Taxes — 733 813 (24 ) 1,522 Other Liabilities 67 498 1,281 — 1,846 Shareholders' Equity: Macy's, Inc. 4,362 678 5,983 (6,661 ) 4,362 Noncontrolling Interest — — (2 ) — (2 ) Total Shareholders' Equity 4,362 678 5,981 (6,661 ) 4,360 Total Liabilities and Shareholders' Equity $ 4,768 $ 13,413 $ 11,376 $ (9,679 ) $ 19,878 Condensed Consolidating Balance Sheet As of February 3, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,109 $ 58 $ 288 $ — $ 1,455 Receivables — 85 278 — 363 Merchandise inventories — 2,344 2,834 — 5,178 Prepaid expenses and other current assets — 165 485 — 650 Total Current Assets 1,109 2,652 3,885 — 7,646 Property and Equipment – net — 3,349 3,323 — 6,672 Goodwill — 3,315 582 — 3,897 Other Intangible Assets – net — 44 444 — 488 Other Assets 1 89 790 — 880 Deferred Income Taxes 11 — — (11 ) — Intercompany Receivable 884 — 2,388 (3,272 ) — Investment in Subsidiaries 4,032 4,126 — (8,158 ) — Total Assets $ 6,037 $ 13,575 $ 11,412 $ (11,441 ) $ 19,583 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 6 $ 16 $ — $ 22 Merchandise accounts payable — 653 937 — 1,590 Accounts payable and accrued liabilities 159 980 2,132 — 3,271 Income taxes 113 30 153 — 296 Total Current Liabilities 272 1,669 3,238 — 5,179 Long-Term Debt — 5,844 17 — 5,861 Intercompany Payable — 3,272 — (3,272 ) — Deferred Income Taxes — 559 600 (11 ) 1,148 Other Liabilities 20 430 1,212 — 1,662 Shareholders' Equity: Macy's, Inc. 5,745 1,801 6,357 (8,158 ) 5,745 Noncontrolling Interest — — (12 ) — (12 ) Total Shareholders' Equity 5,745 1,801 6,345 (8,158 ) 5,733 Total Liabilities and Shareholders' Equity $ 6,037 $ 13,575 $ 11,412 $ (11,441 ) $ 19,583
Condensed Consolidating Statement of Cash Flows [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the 13 weeks ended May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 139 $ (69 ) $ 299 $ (238 ) $ 131 Impairment and other costs — — 19 — 19 Equity in earnings of subsidiaries (136 ) (102 ) — 238 — Dividends received from subsidiaries 200 — — (200 ) — Depreciation and amortization — 82 153 — 235 Gains on sale of real estate — (23 ) (1 ) — (24 ) Changes in assets, liabilities and other items not separately identified 150 175 (364 ) — (39 ) Net cash provided by operating activities 353 63 106 (200 ) 322 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (50 ) (117 ) — (167 ) Other, net — (10 ) 21 — 11 Net cash used by investing activities — (60 ) (96 ) — (156 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (116 ) — (200 ) 200 (116 ) Issuance of common stock, net of common stock acquired 28 — — — 28 Proceeds from noncontrolling interest — — 2 — 2 Intercompany activity, net (254 ) (10 ) 264 — — Other, net (50 ) 23 17 — (10 ) Net cash provided (used) by financing activities (392 ) 10 83 200 (99 ) Net increase (decrease) in cash, cash equivalents and restricted cash (39 ) 13 93 — 67 Cash, cash equivalents and restricted cash at beginning of period 1,109 79 325 — 1,513 Cash, cash equivalents and restricted cash at end of period $ 1,070 $ 92 $ 418 $ — $ 1,580 Condensed Consolidating Statement of Cash Flows For the 13 weeks ended April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 78 $ (120 ) $ 198 $ (79 ) $ 77 Equity in earnings of subsidiaries (78 ) (1 ) — 79 — Dividends received from subsidiaries 211 — — (211 ) — Depreciation and amortization — 89 154 — 243 Gains on sale of real estate — (65 ) (3 ) — (68 ) Changes in assets, liabilities and other items not separately identified 251 241 (507 ) — (15 ) Net cash provided (used) by operating activities 462 144 (158 ) (211 ) 237 Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — 58 (139 ) — (81 ) Other, net — — 21 — 21 Net cash provided (used) by investing activities — 58 (118 ) — (60 ) Cash flows from financing activities: Debt repaid — (152 ) — — (152 ) Dividends paid (115 ) — (211 ) 211 (115 ) Issuance of common stock, net of common stock acquired 1 — — — 1 Proceeds from noncontrolling interest — — 3 — 3 Intercompany activity, net (515 ) (1 ) 516 — — Other, net 8 (31 ) 13 — (10 ) Net cash provided (used) by (621 ) (184 ) 321 211 (273 ) Net increase (decrease) in cash, cash equivalents and restricted cash (159 ) 18 45 — (96 ) Cash, cash equivalents and restricted cash at beginning of period 938 81 315 — 1,334 Cash, cash equivalents and restricted cash at end of period $ 779 $ 99 $ 360 $ — $ 1,238
Condensed Consolidating Statement of Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income For the 13 weeks ended May 5, 2018 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,008 $ 5,363 $ (1,830 ) $ 5,541 Credit card revenues (expense), net — (6 ) 163 — 157 Cost of sales — (1,320 ) (3,892 ) 1,830 (3,382 ) Selling, general and administrative expenses — (828 ) (1,255 ) — (2,083 ) Gains on sale of real estate — 23 1 — 24 Impairment and other costs — — (19 ) — (19 ) Operating income (loss) — (123 ) 361 — 238 Benefit plan income, net — 4 7 — 11 Interest (expense) income, net: External 4 (71 ) 1 — (66 ) Intercompany — (18 ) 18 — — Equity in earnings of subsidiaries 136 102 — (238 ) — Income (loss) before income taxes 140 (106 ) 387 (238 ) 183 Federal, state and local income (1 ) 37 (88 ) — (52 ) Net income (loss) 139 (69 ) 299 (238 ) 131 Net loss attributable to noncontrolling interest — — 8 — 8 Net income (loss) attributable to $ 139 $ (69 ) $ 307 $ (238 ) $ 139 Comprehensive income (loss) $ 146 $ (63 ) $ 303 $ (248 ) $ 138 Comprehensive loss attributable to — — 8 — 8 Comprehensive income (loss) attributable to $ 146 $ (63 ) $ 311 $ (248 ) $ 146 Condensed Consolidating Statement of Comprehensive Income For the 13 weeks ended April 29, 2017 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,064 $ 5,130 $ (1,844 ) $ 5,350 Credit card revenues (expense), net — (6 ) 167 — 161 Cost of sales — (1,386 ) (3,761 ) 1,844 (3,303 ) Selling, general and administrative expenses (1 ) (767 ) (1,289 ) — (2,057 ) Gains on sale of real estate — 65 3 — 68 Operating income (loss) (1 ) (30 ) 250 — 219 Benefit plan income, net — 5 8 — 13 Interest (expense) income, net: External 1 (85 ) — — (84 ) Intercompany — (34 ) 34 — — Premiums on early retirement of debt — (3 ) — — (3 ) Equity in earnings of subsidiaries 78 1 — (79 ) — Income (loss) before income taxes 78 (146 ) 292 (79 ) 145 Federal, state and local income — 26 (94 ) — (68 ) Net income (loss) 78 (120 ) 198 (79 ) 77 Net loss attributable to noncontrolling interest — — 1 — 1 Net income (loss) attributable to $ 78 $ (120 ) $ 199 $ (79 ) $ 78 Comprehensive income (loss) $ 84 $ (114 ) $ 202 $ (89 ) $ 83 Comprehensive loss attributable to — — 1 — 1 Comprehensive income (loss) attributable to $ 84 $ (114 ) $ 203 $ (89 ) $ 84

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	3 Months Ended
	May 05, 2018USD ($)storesRate	Apr. 29, 2017USD ($)	Feb. 03, 2018USD ($)	Jan. 28, 2017USD ($)
sales by product category	$ 5,541	$ 5,350
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	164
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets			$ 72	$ 54
Revenue Recognition, Sales Returns, Reserve for Sales Returns	$ 298	338	291
Macy's sales to total Company sales | Rate	88.00%
Number of states in which entity operates	44
Contract with Customer, Liability	$ 71	60	73
Contract with Customer, Right to Recover Product	204	236	201
Gift Card Liability, Current	656	651	821
Restricted Cash and Cash Equivalents	49	37	$ 58	$ 37
Net premiums on early retirement of debt	$ 0	(3)
Minimum [Member]
Number of Stores | stores	850
Women's Accessories, Intimate Apparel, Shoes and Cosmetics [Member]
sales by product category	$ 2,165	2,069
Women's Apparel [Member]
sales by product category	1,354	1,333
Men's and Children's [Member]
sales by product category	1,175	1,115
Home and Miscellaneous [Member]
sales by product category	$ 847	$ 833

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Stock Options [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	15.7	16.2
Restricted Stock Units [Member]
Stock options and restricted stock units outstanding, not included in computation of diluted earnings per share	2.5	1.6

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
	May 05, 2018	Apr. 29, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to Macy's, Inc. shareholders	$ 139	$ 78
Net income available to common stockholders, basic	139	78
Net income available to common stockholders, diluted	$ 139	$ 78
Basic earnings per share attributable to Macy's, Inc. shareholders	$ 0.45	$ 0.26
Diluted earnings per share attributable to Macy's, Inc. shareholders	$ 0.45	$ 0.26
Average number of shares issued, basic	305.7	304.3
Shares to be issued under deferred compensation and other plans	0.9	0.7
Average number of shares outstanding, basic	306.6	305
Effect of dilutive securities-stock options, restricted stock and restricted stock units	2.8	1.9
Average number of shares outstanding, diluted	309.4	306.9

Financing Activities (Details)

Financing Activities (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Net premiums on early retirement of debt	$ 0	$ 3

Financing Activities (Detail Of

Financing Activities (Detail Of Debt Repayments) (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Debt Instrument, Repurchased Face Amount		$ 146
Debt repaid	$ 3	152
Repayments of Debt		149
9.5% Amortizing Debentures due 2021
Extinguishment of debt	2	2
9.75% Amortizing Debentures Due 2021
Extinguishment of debt	1	1
6.375% Senior Notes Due 2037
Extinguishment of debt	0	135
6.7% Senior Debentures Due 2034
Extinguishment of debt	$ 0	$ 11

Benefit Plans (Net Periodic Ben

Benefit Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Total Retirement Expense	$ 14	$ 9
Nonqualified Plan [Member]
Defined contribution plans expense	0	0
Qualified Plan [Member]
Defined contribution plans expense	23	21
Pension Plan [Member]
Service cost	2	1
Interest cost	26	27
Expected return on assets	(53)	(56)
Recognition of net actuarial (gain) loss	8	8
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(17)	(20)
Supplemental Employee Retirement Plan [Member]
Service cost	0	0
Interest cost	6	6
Recognition of net actuarial (gain) loss	2	2
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	8	8
Other Postretirement Benefits Plan [Member]
Service cost	0	0
Interest cost	1	1
Recognition of net actuarial (gain) loss	(1)	(1)
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 0	$ 0

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets Measured At Fair Value On A Recurring and Nonrecurring Basis) (Details) - USD ($) $ in Millions	May 05, 2018	Apr. 29, 2017
Marketable equity and debt securities	$ 96	$ 90
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable equity and debt securities	25	21
Significant Observable Inputs (Level 2) [Member]
Marketable equity and debt securities	71	69
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	May 05, 2018	Apr. 29, 2017
Long-term debt	$ 5,621	$ 6,251
Carrying Amount
Long-term debt	5,832	6,385
Notional Amount
Long-term debt	$ 5,803	$ 6,310

Condensed Consolidating Finan28

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	May 05, 2018	Feb. 03, 2018	Apr. 29, 2017
Current Assets:
Cash and cash equivalents	$ 1,531	$ 1,455	$ 1,201
Receivables	250	363	345
Merchandise inventories	5,291	5,178	5,626
Prepaid expenses and other current assets	638	650	634
Total Current Assets	7,710	7,646	7,806
Property and Equipment - net	6,575	6,672	6,886
Goodwill	3,908	3,897	3,897
Other Intangible Assets - net	486	488	496
Other Assets	889	880	793
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	0	0	0
Total Assets	19,568	19,583	19,878
Current Liabilities:
Short-term debt	25	22	313
Merchandise accounts payable	2,045	1,590	2,028
Accounts payable and accrued liabilities	2,695	3,271	3,042
Income taxes	312	296	355
Total Current Liabilities	5,077	5,179	5,738
Long-Term Debt	5,857	5,861	6,412
Intercompany Payable	0	0	0
Deferred Income Taxes	1,169	1,148	1,522
Other Liabilities	1,664	1,662	1,846
Shareholders' Equity, Macy's, Inc.	5,821	5,745	4,362
Shareholders' Equity, noncontrolling interest	(20)	(12)	(2)
Total Shareholders’ Equity	5,801	5,733	4,360
Total Liabilities and Shareholders' Equity	19,568	19,583	19,878
Parent
Current Assets:
Cash and cash equivalents	1,070	1,109	779
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Total Current Assets	1,070	1,109	779
Property and Equipment - net	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	1	1	0
Deferred Income Taxes	5	11	24
Intercompany Receivable	1,156	884	902
Investment in Subsidiaries	3,975	4,032	3,063
Total Assets	6,207	6,037	4,768
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts payable and accrued liabilities	109	159	22
Income taxes	253	113	317
Total Current Liabilities	362	272	339
Long-Term Debt	0	0	0
Intercompany Payable	0	0	0
Deferred Income Taxes	0	0	0
Other Liabilities	24	20	67
Shareholders' Equity, Macy's, Inc.	5,821	5,745	4,362
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	5,821	5,745	4,362
Total Liabilities and Shareholders' Equity	6,207	6,037	4,768
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	79	58	99
Receivables	48	85	118
Merchandise inventories	2,283	2,344	2,560
Prepaid expenses and other current assets	150	165	150
Total Current Assets	2,560	2,652	2,927
Property and Equipment - net	3,298	3,349	3,479
Goodwill	3,326	3,315	3,315
Other Intangible Assets - net	43	44	49
Other Assets	96	89	45
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	4,232	4,126	3,598
Total Assets	13,555	13,575	13,413
Current Liabilities:
Short-term debt	6	6	306
Merchandise accounts payable	896	653	841
Accounts payable and accrued liabilities	784	980	962
Income taxes	35	30	6
Total Current Liabilities	1,721	1,669	2,115
Long-Term Debt	5,841	5,844	6,395
Intercompany Payable	3,269	3,272	2,994
Deferred Income Taxes	570	559	733
Other Liabilities	416	430	498
Shareholders' Equity, Macy's, Inc.	1,738	1,801	678
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	1,738	1,801	678
Total Liabilities and Shareholders' Equity	13,555	13,575	13,413
Other Subsidiaries
Current Assets:
Cash and cash equivalents	382	288	323
Receivables	202	278	227
Merchandise inventories	3,008	2,834	3,066
Prepaid expenses and other current assets	488	485	484
Total Current Assets	4,080	3,885	4,100
Property and Equipment - net	3,277	3,323	3,407
Goodwill	582	582	582
Other Intangible Assets - net	443	444	447
Other Assets	792	790	748
Deferred Income Taxes	0	0	0
Intercompany Receivable	2,113	2,388	2,092
Investment in Subsidiaries	0	0	0
Total Assets	11,287	11,412	11,376
Current Liabilities:
Short-term debt	19	16	7
Merchandise accounts payable	1,149	937	1,187
Accounts payable and accrued liabilities	1,802	2,132	2,058
Income taxes	24	153	32
Total Current Liabilities	2,994	3,238	3,284
Long-Term Debt	16	17	17
Intercompany Payable	0	0	0
Deferred Income Taxes	604	600	813
Other Liabilities	1,224	1,212	1,281
Shareholders' Equity, Macy's, Inc.	6,469	6,357	5,983
Shareholders' Equity, noncontrolling interest	(20)	(12)	(2)
Total Shareholders’ Equity	6,449	6,345	5,981
Total Liabilities and Shareholders' Equity	11,287	11,412	11,376
Consolidation, Eliminations [Member]
Current Assets:
Cash and cash equivalents	0	0	0
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Total Current Assets	0	0	0
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	(5)	(11)	(24)
Intercompany Receivable	(3,269)	(3,272)	(2,994)
Investment in Subsidiaries	(8,207)	(8,158)	(6,661)
Total Assets	(11,481)	(11,441)	(9,679)
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	0
Total Current Liabilities	0	0	0
Long-Term Debt	0	0	0
Intercompany Payable	(3,269)	(3,272)	(2,994)
Deferred Income Taxes	(5)	(11)	(24)
Other Liabilities	0	0	0
Shareholders' Equity, Macy's, Inc.	(8,207)	(8,158)	(6,661)
Shareholders' Equity, noncontrolling interest	0	0	0
Total Shareholders’ Equity	(8,207)	(8,158)	(6,661)
Total Liabilities and Shareholders' Equity	$ (11,481)	$ (11,441)	$ (9,679)

Condensed Consolidating Finan29

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Net sales	$ 5,541	$ 5,350
Net Earnings from Credit Operations	157	161
Cost of sales	(3,382)	(3,303)
Selling, general and administrative expenses	(2,083)	(2,057)
Gains on sale of real estate	24	68
Impairments and other costs	(19)	0
Operating Income (Loss)	238	219
Non-Service Cost Pension, SERP and OPEB	11	13
Interest (expense) income, net
External	(66)	(84)
Intercompany	0	0
Net premiums on early retirement of debt	0	(3)
Income (Loss) from Equity Method Investments	0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	183	145
Federal, state and local income tax expense	(52)	(68)
Net income (loss)	131	77
Net loss attributable to noncontrolling interest	8	1
Net income (loss) attributable to Macy's, Inc. shareholders	139	78
Comprehensive income (loss)	138	83
Comprehensive loss attributable to noncontrolling interest	8	1
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	146	84
Parent
Net sales	0	0
Net Earnings from Credit Operations	0	0
Cost of sales	0	0
Selling, general and administrative expenses	0	(1)
Gains on sale of real estate	0	0
Impairments and other costs	0
Operating Income (Loss)	0	(1)
Non-Service Cost Pension, SERP and OPEB	0	0
Interest (expense) income, net
External	4	1
Intercompany	0	0
Net premiums on early retirement of debt		0
Income (Loss) from Equity Method Investments	136	78
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	140	78
Federal, state and local income tax expense	(1)	0
Net income (loss)	139	78
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	139	78
Comprehensive income (loss)	146	84
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	146	84
Subsidiary Issuer
Net sales	2,008	2,064
Net Earnings from Credit Operations	(6)	(6)
Cost of sales	(1,320)	(1,386)
Selling, general and administrative expenses	(828)	(767)
Gains on sale of real estate	23	65
Impairments and other costs	0
Operating Income (Loss)	(123)	(30)
Non-Service Cost Pension, SERP and OPEB	4	5
Interest (expense) income, net
External	(71)	(85)
Intercompany	(18)	(34)
Net premiums on early retirement of debt		(3)
Income (Loss) from Equity Method Investments	102	1
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(106)	(146)
Federal, state and local income tax expense	37	26
Net income (loss)	(69)	(120)
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(69)	(120)
Comprehensive income (loss)	(63)	(114)
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	(63)	(114)
Other Subsidiaries
Net sales	5,363	5,130
Net Earnings from Credit Operations	163	167
Cost of sales	(3,892)	(3,761)
Selling, general and administrative expenses	(1,255)	(1,289)
Gains on sale of real estate	1	3
Impairments and other costs	(19)
Operating Income (Loss)	361	250
Non-Service Cost Pension, SERP and OPEB	7	8
Interest (expense) income, net
External	1	0
Intercompany	18	34
Net premiums on early retirement of debt		0
Income (Loss) from Equity Method Investments	0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	387	292
Federal, state and local income tax expense	(88)	(94)
Net income (loss)	299	198
Net loss attributable to noncontrolling interest	8	1
Net income (loss) attributable to Macy's, Inc. shareholders	307	199
Comprehensive income (loss)	303	202
Comprehensive loss attributable to noncontrolling interest	8	1
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	311	203
Consolidation, Eliminations [Member]
Net sales	(1,830)	(1,844)
Net Earnings from Credit Operations	0	0
Cost of sales	1,830	1,844
Selling, general and administrative expenses	0	0
Gains on sale of real estate	0	0
Impairments and other costs	0
Operating Income (Loss)	0	0
Non-Service Cost Pension, SERP and OPEB	0	0
Interest (expense) income, net
External	0	0
Intercompany	0	0
Net premiums on early retirement of debt		0
Income (Loss) from Equity Method Investments	(238)	(79)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(238)	(79)
Federal, state and local income tax expense	0	0
Net income (loss)	(238)	(79)
Net loss attributable to noncontrolling interest	0	0
Net income (loss) attributable to Macy's, Inc. shareholders	(238)	(79)
Comprehensive income (loss)	(248)	(89)
Comprehensive loss attributable to noncontrolling interest	0	0
Comprehensive income (loss) attributable to Macy's, Inc. shareholders	$ (248)	$ (89)

Condensed Consolidating Finan30

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2018	Apr. 29, 2017
Cash flows from operating activities:
Net income (loss)	$ 131	$ 77
Impairments and other costs	19	0
Equity in earnings of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	235	243
Gains on sale of real estate	(24)	(68)
Change in assets, liabilities and other items not separately identified	(39)	(15)
Net cash provided (used) by operating activities	322	237
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(167)	(81)
Other, net	11	21
Net cash used by investing activities	(156)	(60)
Cash flows from financing activities:
Debt repaid	(3)	(152)
Dividends paid	(116)	(115)
(Common stock acquired) net of issuance of common stock	28	1
Proceeds from noncontrolling interest	2	3
Intercompany activity, net	0	0
Other, net	(10)	(10)
Net cash provided (used) by financing activities	(99)	(273)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	67	(96)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	1,513	1,334
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,580	1,238
Parent
Cash flows from operating activities:
Net income (loss)	139	78
Impairments and other costs	0
Equity in earnings of subsidiaries	(136)	(78)
Dividends received from subsidiaries	200	211
Depreciation and amortization	0	0
Gains on sale of real estate	0	0
Change in assets, liabilities and other items not separately identified	150	251
Net cash provided (used) by operating activities	353	462
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	(116)	(115)
(Common stock acquired) net of issuance of common stock	28	1
Proceeds from noncontrolling interest	0	0
Intercompany activity, net	(254)	(515)
Other, net	(50)	8
Net cash provided (used) by financing activities	(392)	(621)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(39)	(159)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	1,109	938
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,070	779
Subsidiary Issuer
Cash flows from operating activities:
Net income (loss)	(69)	(120)
Impairments and other costs	0
Equity in earnings of subsidiaries	(102)	(1)
Dividends received from subsidiaries	0	0
Depreciation and amortization	82	89
Gains on sale of real estate	(23)	(65)
Change in assets, liabilities and other items not separately identified	175	241
Net cash provided (used) by operating activities	63	144
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(50)	58
Other, net	(10)	0
Net cash used by investing activities	(60)	58
Cash flows from financing activities:
Debt repaid	(3)	(152)
Dividends paid	0	0
(Common stock acquired) net of issuance of common stock	0	0
Proceeds from noncontrolling interest	0	0
Intercompany activity, net	(10)	(1)
Other, net	23	(31)
Net cash provided (used) by financing activities	10	(184)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	13	18
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	79	81
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	92	99
Other Subsidiaries
Cash flows from operating activities:
Net income (loss)	299	198
Impairments and other costs	19
Equity in earnings of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	153	154
Gains on sale of real estate	(1)	(3)
Change in assets, liabilities and other items not separately identified	(364)	(507)
Net cash provided (used) by operating activities	106	(158)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net	(117)	(139)
Other, net	21	21
Net cash used by investing activities	(96)	(118)
Cash flows from financing activities:
Debt repaid	0	0
Dividends paid	(200)	(211)
(Common stock acquired) net of issuance of common stock	0	0
Proceeds from noncontrolling interest	2	3
Intercompany activity, net	264	516
Other, net	17	13
Net cash provided (used) by financing activities	83	321
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	93	45
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	325	315
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	418	360
Consolidating Adjustments
Cash flows from operating activities:
Net income (loss)	(238)	(79)
Impairments and other costs	0
Equity in earnings of subsidiaries	238	79
Dividends received from subsidiaries	(200)	(211)
Depreciation and amortization	0	0
Gains on sale of real estate	0	0
Change in assets, liabilities and other items not separately identified	0	0
Net cash provided (used) by operating activities	(200)	(211)
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	200	211
(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	200	211
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	0	0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	$ 0	$ 0