Macy's (M) 10-Q 2 Jul 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 02, 2020	May 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 2, 2020
Entity File Number	1-13536
Entity Registrant Name	Macy's, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3324058
Entity Address, Address Line One	151 West 34th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10001
City Area Code	513
Local Phone Number	579-7780
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	M
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000794367
Current Fiscal Year End Date	--01-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		310,235,066

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Income Statement [Abstract]
Net sales	$ 3,017	$ 5,504
Credit card revenues, net	131	172
Cost of sales	(2,501)	(3,403)
Selling, general and administrative expenses	(1,598)	(2,112)
Gains on sale of real estate	16	43
Impairment, restructuring and other costs	(3,184)	(1)
Operating income (loss)	(4,119)	203
Benefit plan income, net	9	7
Interest expense	(49)	(54)
Interest income	2	7
Income (loss) before income taxes	(4,157)	163
Federal, state and local income tax benefit (expense)	576	(27)
Net income (loss)	$ (3,581)	$ 136
Basic earnings (loss) per share	$ (11.53)	$ 0.44
Diluted earnings (loss) per share	$ (11.53)	$ 0.44

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Net income (loss)	$ (3,581)	$ 136
Amortization of net actuarial loss and prior service credit on post employment and postretirement benefit plans included in net income, before tax	12	8
Tax effect related to items of other comprehensive income	(3)	(2)
Total other comprehensive loss, net of tax effect	9	6
Comprehensive income (loss)	$ (3,572)	$ 142

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Current Assets:
Cash and cash equivalents	$ 1,523	$ 685	$ 737
Receivables	170	409	237
Merchandise inventories	4,923	5,188	5,498
Prepaid expenses and other current assets	519	528	633
Total Current Assets	7,135	6,810	7,105
Property and Equipment - net	6,425	6,633	6,499
Right of Use Assets	2,672	2,668	2,631
Goodwill	838	3,908	3,908
Other Intangible Assets - net	439	439	441
Other Assets	1,072	714	712
Total Assets	18,581	21,172	21,296
Current Liabilities:
Short-term debt	739	539	41
Merchandise accounts payable	2,196	1,682	1,950
Accounts Payable and Accrued Liabilities	2,757	3,448	2,846
Income taxes	80	81	182
Total Current Liabilities	5,772	5,750	5,019
Long-Term Debt	4,918	3,621	4,680
Long-Term Lease Liabilities	2,923	2,918	2,823
Deferred Income Taxes	944	1,169	1,193
Other Liabilities	1,327	1,337	1,258
Shareholders' Equity, Macy's, Inc.	2,697	6,377	6,323
Total Liabilities and Shareholders' Equity	$ 18,581	$ 21,172	$ 21,296

Consolidated Balance Sheets (pa

Consolidated Balance Sheets (parenthetical) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Accumulated depreciation and amortization	$ 4,560	$ 4,392	$ 4,621

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Equity [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Feb. 02, 2019	$ 6,436	$ 3	$ 652	$ 8,050	$ (1,318)	$ (951)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	136			136
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	6					6
Common stock dividends	(117)			(117)
Stock-based compensation expense	14		14
Stock issued under stock plans	6		(60)		66
Ending balance at May. 04, 2019	6,323	3	606	7,911	(1,252)	(945)
Beginning balance at Feb. 01, 2020	6,377	3	621	7,989	(1,241)	(995)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(3,581)			(3,581)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	9					9
Common stock dividends	(117)			(117)
Stock-based compensation expense	6		6
Stock issued under stock plans	(1)		(62)		61
Stockholders' Equity, Other	4					4
Ending balance at May. 02, 2020	$ 2,697	$ 3	$ 565	$ 4,291	$ (1,180)	$ (982)

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Shareholders' Equity Parenthetical - $ / shares	3 Months Ended
	May 02, 2020	May 04, 2019
Statement of Stockholders' Equity - Parenthetical [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.3775	$ 0.3775

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Statement of Cash Flows [Abstract]
Net income (loss)	$ (3,581)	$ 136
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Impairment, restructuring and other costs	3,184	1
Depreciation and amortization	237	236
Stock-based compensation expense	6	14
Gains on sale of real estate	(16)	(43)
Benefit plans	12	8
Deferred Income Taxes	(225)	7
Changes in assets and liabilities:
Decrease in receivables	236	163
(Increase) decrease in merchandise inventories	265	(235)
(Increase) Decrease in prepaid expenses and other current assets	12	(6)
Increase in merchandise accounts payable	629	247
Decrease in accounts payable and accrued liabilities	(531)	(516)
Increase (decrease) in current income taxes	(353)	8
Change in other assets and liabilities	(39)	(58)
Net cash provided (used) by operating activities	(164)	(38)
Cash flows from investing activities:
Purchase of property and equipment	(122)	(204)
Capitalized software	(38)	(60)
Disposition of property and equipment	21	34
Other, net	26	(7)
Net cash used by investing activities	(113)	(237)
Cash flows from financing activities:
Proceeds from Lines of Credit	1,500	0
Repayments of Long-term Debt	(4)	(3)
Dividends paid	(117)	(116)
Decrease in outstanding checks	(231)	(45)
Issuance of common stock	0	6
Net cash provided (used) by financing activities	1,148	(158)
Net increase (decrease) in cash, cash equivalents and restricted cash	871	(433)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	731	1,248
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,602	815
Supplemental cash flow information:
Interest paid	38	46
Interest received	3	7
Income taxes paid (net of refunds received)	$ 2	$ 12

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows Consolidated Statements of Cash Flows - Restricted Cash Parenthetical - USD ($) $ in Millions	May 02, 2020	May 04, 2019
Statement of Cash Flows - Restricted Cash [Abstract]
Restricted Cash and Cash Equivalents	$ 79	$ 78

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	May 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Organization and 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 kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Guam and Puerto Rico. As of May 2, 2020 , the Company's operations were conducted through Macy's, Bloomingdale's, Bloomingdale's The Outlet, Macy's Backstage and bluemercury. 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 1, 2020 (the "2019 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2019 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. The Company considered the novel coronavirus ("COVID-19") related impacts to its estimates, as appropriate, within its Consolidated Financial Statements and there may be changes to those estimates in future periods. The Company believes that the accounting estimates are appropriate after giving consideration to the increased uncertainties surrounding the severity and duration of the COVID-19 pandemic. 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 2, 2020 and May 4, 2019 , 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 2, 2020 and May 4, 2019 (which do not include the Christmas season) are not necessarily indicative of such results for the full fiscal year. Comprehensive Income (Loss) Total comprehensive income (loss) represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income (loss). For the Company, the only other components of total comprehensive income (loss) for the 13 weeks ended May 2, 2020 and May 4, 2019 relate to post employment and postretirement plan items. Settlement charges incurred are included as a separate component of income (loss) before income taxes in the Consolidated Statements of Operations. Amortization reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in benefit plan income, net on the Consolidated Statements of Operations. See Note 8, "Benefit Plans," for further information.

Impact of COVID-19

Impact of COVID-19	3 Months Ended
	May 02, 2020
Unusual or Infrequent Items, or Both [Abstract]
Impact of COVID-19	Impact of COVID-19 In March 2020, the World Health Organization declared the outbreak of COVID-19 as a global pandemic, which continues to spread throughout the United States. The COVID-19 pandemic has had a negative impact on the Company's fiscal 2020 operations and financial results to date, and the full financial impact of the pandemic cannot be reasonably estimated at this time due to uncertainty as to the severity and duration of the pandemic. The following summarizes the actions taken and impacts from the COVID-19 pandemic during and subsequent to the 13 weeks ended May 2, 2020 . • The Company temporarily closed all stores on March 18, 2020, which included all Macy’s, Bloomingdale’s, Bluemercury, Macy’s Backstage, Bloomingdales the Outlet and Market by Macy’s stores. The first tranche of stores began reopening on May 4, 2020 and nearly all the Company's stores have been reopened. As a result of store closures, the Company recognized an approximate $300 million inventory write-down, primarily on fashion merchandise, during the 13 weeks ended May 2, 2020 . • In an effort to increase liquidity, the Company fully drew on its $1,500 million credit facility, announced the suspension of quarterly cash dividends beginning in the second quarter of 2020 and took additional steps to reduce discretionary spending. The Company's Board of Directors rescinded its authorization of any unused amounts under the Company's share repurchase program. In June 2020, the Company completed financing activities of nearly $4.5 billion . See Note 7, "Financing Activities," for further discussion on these activities. • To improve the Company's current cash position and reduce its cash expenditures during this uncertain time, the Company's Board of Directors and Chief Executive Officer did not receive compensation from the beginning of the COVID-19 crisis through June 30, 2020. In addition, the Company deferred cash expenditures where possible and temporarily implemented a furlough for the majority of its employee population that will end at the beginning of July 2020. Certain executives not impacted by the furlough took a temporary reduction of their pay through June 30, 2020. In the first quarter of 2020, the Company deferred rent payments for a significant number of its stores. The Company has elected to treat the COVID-19 pandemic-related rent deferrals as accrued liabilities. The Company will continue to recognize expense during the deferral periods. In June 2020, the Company announced a restructuring that will align its cost base with anticipated near-term sales as the business recovers from the impact of the COVID-19 pandemic. The Company will reduce corporate and management headcount by approximately 3,900 . Additionally, the Company has reduced staffing across its stores portfolio, supply chain and customer support network, which it will adjust as sales recover. For fiscal 2020, the Company expects pre-tax costs of approximately $180 million for these restructuring activities, the majority of which will be recorded in the second quarter of 2020 and all of which will be in cash. During the 13 weeks ended May 2, 2020 , the Company incurred non-cash impairment charges on long-lived tangible and right of use assets to adjust the carrying value of certain store locations to their estimated fair value. The Company also incurred a non-cash impairment charge on goodwill as a result of the sustained decline in the Company's market capitalization and decline in projected cash flows primarily as a result of the COVID-19 pandemic. See Note 3, "Impairment, Restructuring and Other Costs" and Note 4, "Goodwill and Indefinite Lived Intangible Assets", respectively, for further discussion of these charges. • On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("the CARES Act") was signed into law, providing payroll tax credits for employee retention, deferral of payroll taxes, and several income tax provisions including modifications to the net interest deduction limitation, changes to certain property depreciation and allows for carryback of certain operating losses. The impacts of the CARES Act have been included in the estimation of the Company's annual effective tax rate and the income tax benefit recognized during the 13 weeks ended May 2, 2020. Specifically, the Company has estimated an annual net operating loss that will be available for carryback at a 35% federal income tax rate rather than the current 21% federal income tax rate. The resultant benefit of this rate differential was offset by the impact of the non-tax deductible component of the goodwill impairment charge and additional income tax expense associated with deferred tax remeasurement during the first quarter of 2020. The net impact of these items is the primary driver of the effective tax rate decrease when compared to the same period in 2019. As of May 2, 2020, the Company recognized a $351 million income tax receivable, which is included within Other Assets on the Consolidated Balance Sheets. In addition, during the 13 weeks ended May 2, 2020 , the Company recognized $42 million in employee retention payroll tax credits and elected to defer payment of the employer portion of social security taxes.

Impairment, Restructuring and O

Impairment, Restructuring and Other Costs	3 Months Ended
	May 02, 2020
Restructuring Costs and Asset Impairment Charges [Abstract]
Impairment, Restructuring and Other Costs	Impairment, Restructuring and Other Costs 13 Weeks Ended May 2, 2020 May 4, 2019 (millions) Impairments $ 3,150 $ — Restructuring 25 — Other 9 1 Total $ 3,184 $ 1 During the 13 weeks ended May 2, 2020 , primarily as a result of the COVID-19 pandemic, the Company incurred non-cash impairment charges totaling $3,150 million consisting of: • $3,070 million of goodwill impairments, with $2,972 million attributable to the Macy's reporting unit and $98 million attributable to the Bluemercury reporting unit. See discussion at Note 4, "Goodwill and Indefinite Lived Intangible Assets." • $80 million of impairments on long-lived tangible and right of use assets to adjust the carrying value of certain store locations to their estimated fair value. A summary of the restructuring and other cash activity for the 13 weeks ended May 2, 2020 related to the Polaris strategy, which was announced in February 2020 and are included within accounts payable and accrued liabilities, is as follows: Severance and other benefits Professional fees and other related charges Total (millions) Balance at February 1, 2020 $ 115 $ 9 $ 124 Additions charged to expense 25 7 32 Cash payments (82 ) (6 ) (88 ) Balance at May 2, 2020 $ 58 $ 10 $ 68

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	May 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Indefinite Lived Intangible Assets May 2, February 1, May 4, (millions) Non-amortizing intangible assets Goodwill $ 9,290 $ 9,290 $ 9,290 Accumulated impairment losses (8,452 ) (5,382 ) (5,382 ) 838 3,908 3,908 Tradenames 403 403 403 $ 1,241 $ 4,311 $ 4,311 As a result of the sustained decline in the Company's market capitalization and changes in the Company's long-term projections driven largely by the impacts of the COVID-19 pandemic, the Company determined a triggering event had occurred that required an interim impairment assessment for all of its reporting units and indefinite lived intangible assets. The Company determined the fair value of each of its reporting units using a market approach, an income approach, or a combination of both, where appropriate. Relative to the prior assessment, as part of this current assessment, it was determined that an increase in the discount rate applied in the valuation was required to align with market-based assumptions and company-specific risk. This higher discount rate, in conjunction with revised long-term projections, resulted in lower fair values of the reporting units. As a result the Company recognized $2,972 million and $98 million of goodwill impairment for the Macy's and bluemercury reporting units, respectively, during the first quarter of 2020 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) Per Share The following tables set forth the computation of basic and diluted earnings (loss) per share: 13 Weeks Ended May 2, 2020 May 4, 2019 Net Shares Net Shares (millions, except per share data) Net income (loss) $ (3,581 ) 309.7 $ 136 308.2 Shares to be issued under deferred compensation and other plans 0.9 0.9 $ (3,581 ) 310.6 $ 136 309.1 Basic earnings (loss) per share $ (11.53 ) $ 0.44 Effect of dilutive securities: Stock options and restricted stock units — 2.3 $ (3,581 ) 310.6 $ 136 311.4 Diluted earnings (loss) per share $ (11.53 ) $ 0.44 For the 13 weeks ended May 2, 2020, as a result of the net loss for the quarter, all options and restricted stock units have been excluded from the calculation of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive. Stock options to purchase 17.3 million shares of common stock and restricted stock units relating to 3.4 million shares of common stock outstanding at May 2, 2020 were excluded from the computation of diluted earnings per share. In addition to the stock options and restricted stock units reflected in the foregoing tables, stock options to purchase 16.9 million shares of common stock and restricted stock units relating to 2.2 million shares of common stock were outstanding at May 4, 2019 , 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.

Revenue

Revenue	3 Months Ended
	May 02, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Net sales 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, inclusive of delivery income, 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 the 13 weeks ended May 2, 2020 and May 4, 2019 , Macy's accounted for 87% and 88% of the Company's net sales, respectively. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 2, 2020 and May 4, 2019 were as follows: 13 Weeks Ended Net sales by family of business May 2, 2020 May 4, 2019 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 1,215 $ 2,152 Women's Apparel 579 1,313 Men's and Kids' 573 1,202 Home/Other (a) 650 837 Total $ 3,017 $ 5,504 (a) Other primarily includes restaurant sales, allowance for merchandise returns adjustments 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 $184 million , $269 million and $294 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively. Included in prepaid expenses and other current assets is an asset totaling $130 million , $147 million and $200 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively, for the recoverable cost of merchandise estimated to be returned by customers. Gift Cards and Customer Loyalty Programs The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold or issued, 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 on a pro-rata basis 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 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 third-party credit cards. 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 unredeemed gift cards and customer loyalty programs is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $732 million , $839 million and $696 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively. Credit Card Revenues, net

Financing Activities

Financing Activities	3 Months Ended
	May 02, 2020
Debt Disclosure [Abstract]
Financing Activities	Financing Activities The following table shows the detail of debt repayments: 13 Weeks Ended May 2, 2020 May 4, 2019 (millions) 9.5% Amortizing debentures due 2021 $ 2 $ 2 9.75% Amortizing debentures due 2021 1 1 $ 3 $ 3 As of May 2, 2020, the Company was party to a credit agreement with certain financial institutions. The credit agreement provided for revolving credit borrowings and letters of credit in an aggregate amount not to exceed $1,500 million . The credit agreement was scheduled to expire on May 9, 2024, subject to up to two one-year extensions that may be requested by the Company and agreed to by the lenders. On March 19, 2020, due to the impacts of the COVID-19 pandemic, the Company elected to draw on the full $1,500 million available under the agreement. This amount remained outstanding as of May 2, 2020. June 2020 Financing Activities Secured Debt Issuance On June 8, 2020, the Company issued $1,300 million aggregate principal amount of 8.375% senior secured notes due 2025 (the "Notes"). The Notes bear interest at a rate of 8.375% per annum, which accrues from June 8, 2020 and is payable in arrears on June 15 and December 15 of each year, commencing on December 15, 2020. The Notes mature on June 15, 2025, unless earlier redeemed or repurchased, and are subject to the terms and conditions set forth in the related indenture. The Notes were issued by Macy’s, Inc. and are secured on a first-priority basis by (i) a first mortgage/deed of trust in certain real property of subsidiaries of Macy’s, Inc. that were transferred to Macy’s Propco Holdings, LLC, a newly created direct, wholly-owned subsidiary of Macy’s, Inc. (“Propco”), and (ii) a pledge by Propco of the equity interests in its subsidiaries that own such transferred real property. The Notes are, jointly and severally, unconditionally guaranteed on a secured basis by Propco and its subsidiaries and unconditionally guaranteed on an unsecured basis by Macy’s Retail Holdings, LLC (f/k/a Macy’s Retail Holdings, Inc.) (“MRH”), a direct, wholly owned subsidiary of Macy’s, Inc. The Company used the proceeds of the Notes offering, along with cash on hand, to repay the outstanding borrowings under the existing $1,500 million unsecured credit agreement. Entry into Asset-Based Credit Facility On June 8, 2020, Macy’s Inventory Funding LLC (the “ABL Borrower”), an indirect wholly owned subsidiary of the Company, and its parent, Macy’s Inventory Holdings LLC (the “ABL Parent”), entered into an asset-based credit agreement (the “ABL Credit Facility”) with Bank of America, N.A., as administrative agent and collateral agent, and the lenders party thereto. The ABL Credit Facility provides the ABL Borrower with (i) a $2,851 million revolving credit facility (the “Revolving ABL Facility”), including a swingline sub-facility and a letter of credit sub-facility, and (ii) a bridge revolving credit facility of up to $300 million (the “Bridge Facility”). The ABL Borrower may request increases in the size of the Revolving ABL Facility up to an additional aggregate principal amount of $750 million . Additionally on June 8, 2020 and concurrently with closing the ABL Credit Facility, the ABL Borrower purchased all presently existing inventory, and assumed the liabilities in respect of all presently existing and outstanding trade payables owed to vendors in respect of such inventory, from MRH and certain wholly owned subsidiaries of MRH. The ABL Credit Facility is secured on a first priority basis (subject to customary exceptions) by (i) all assets of the ABL Borrower including all such inventory and the proceeds thereof and (ii) the equity of the ABL Borrower. The ABL Parent guaranteed the ABL Borrower’s obligations under the ABL Credit Facility. The Revolving ABL Facility matures on May 9, 2024, and the Bridge Facility matures on December 30, 2020. The ABL Credit Facility contains customary borrowing conditions including a borrowing base equal to the sum of (a) 80% (which shall automatically increase to 90% upon the satisfaction of certain conditions, including the delivery of an initial appraisal of the inventory) of the net orderly liquidation percentage of eligible inventory, minus (b) customary reserves. Amounts borrowed under the ABL Credit Facility are subject to interest at a rate per annum equal to (i) prior to the Step Down Date (as defined in the ABL Credit Facility), at the ABL Borrower’s option, either (a) adjusted LIBOR plus a margin of 2.75% to 3.00% or (b) a base rate plus a margin of 1.75% to 2.00% , in each case depending on revolving line utilization and (ii) after the Step Down Date, at the ABL Borrower’s option, either (a) adjusted LIBOR plus a margin of 2.25% to 2.50% or (b) a base rate plus a margin of 1.25% to 1.50% , in each case depending on revolving line utilization. The ABL Credit Facility also contains customary covenants that provide for, among other things, limitations on indebtedness, liens, fundamental changes, restricted payments, cash hoarding, and prepayment of certain indebtedness as well as customary representations and warranties and events of default typical for credit facilities of this type. The ABL Credit Facility also requires (1) the Company and its restricted subsidiaries to maintain a fixed charge coverage ratio of at least 1.00 to 1.00 as of the end of any fiscal quarter on or after April 30, 2021 if (a) certain events of default have occurred and are continuing or (b) Availability plus Suppressed Availability (each as defined in the ABL Credit Facility) is less than the greater of (x) 10% of the Loan Cap (as defined in the ABL Credit Facility) and (y) $250 million , in each case, as of the end of such fiscal quarter and (2) prior to April 30, 2021, that the ABL Borrower not permit Availability plus Suppressed Availability to be lower than the greater of (x) 10% of the Loan Cap and (y) $250 million . Amendment to Existing Credit Agreement The Company substantially reduced the credit commitments of its existing $1,500 million unsecured credit agreement which now provides the Company with unsecured revolving credit of up to $75 million . The unsecured revolving credit facility contains covenants that provide for, among other things, limitations on fundamental changes, use of proceeds, and maintenance of property, as well as customary representations and warranties and events of default. Commencement of Exchange Offers and Consent Solicitations for Certain Outstanding Debt Securities of Macy’s Retail Holdings, LLC In June 2020, MRH commenced offers to eligible holders to exchange (each, an “Exchange Offer” and, collectively, the “Exchange Offers”) (i) new 6.65% Senior Secured Debentures due 2024 (“New 2024 Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.65% Senior Debentures due 2024 issued by MRH (“Old 2024 Notes”), (ii) new 6.7% Senior Secured Debentures due 2028 (“New 2028 Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2028 issued by MRH (“Old 2028 Notes”), (iii) new 8.75% Senior Secured Debentures due 2029 (“New 2029 Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 8.75% Senior Debentures due 2029 issued by MRH (“Old 2029 Notes”), (iv) new 7.875% Senior Secured Debentures due 2030 (“New 2030 Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 7.875% Senior Debentures due 2030 issued by MRH (“Old 2030 Notes”), (v) new 6.9% Senior Secured Debentures due 2032 (“New 2032 Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.9% Senior Debentures due 2032 issued by MRH (“Old 2032 Notes”), and (vi) new 6.7% Senior Secured Debentures due 2034 (“New 2034 Notes” and, together with the New 2024 Notes, New 2028 Notes, New 2029 Notes, New 2030 Notes and New 2032 Notes, the “New Notes” and each series, a “series of New Notes”) to be issued by MRH for validly tendered (and not validly withdrawn) outstanding 6.7% Senior Debentures due 2034 issued by MRH (“Old 2034 Notes” and, together with the Old 2024 Notes, Old 2028 Notes, Old 2029 Notes, Old 2030 Notes and Old 2032 Notes, the “Old Notes” and each series, a “series of Old Notes”). Each New Note issued in the Exchange Offers for a validly tendered Old Note will have an interest rate and maturity date that is identical to the interest rate and maturity date of the tendered Old Note, as well as identical interest payment dates and optional redemption prices. The New Notes will be MRH’s and Macy’s general, senior obligations and will be secured by a second-priority lien on the same collateral securing the Notes. In addition, MRH is soliciting consents from holders of each series of Old Notes (each, a “Consent Solicitation” and, collectively, the “Consent Solicitations”) pursuant to the separate Consent Solicitation Statement (as defined below) to adopt certain proposed amendments to the indenture governing the Old Notes (the “Existing Indenture”) to conform certain provisions in the negative pledge covenant in the Existing Indenture to the provisions of the negative pledge covenant in MRH’s most recent indenture (the “Proposed Amendments”).

Benefit Plans

Benefit Plans	3 Months Ended
	May 02, 2020
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 2, 2020 May 4, 2019 (millions) 401(k) Qualified Defined Contribution Plan $ 13 $ 25 Non-Qualified Defined Contribution Plan $ — $ 1 Pension Plan Service cost $ 1 $ 1 Interest cost 19 26 Expected return on assets (45 ) (48 ) Recognition of net actuarial loss 10 7 Amortization of prior service credit — — $ (15 ) $ (14 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 4 6 Recognition of net actuarial loss 3 2 Amortization of prior service cost — — $ 7 $ 8 Total Retirement Expense $ 5 $ 20 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 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring 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: Level 1: Quoted prices in active markets for identical assets Level 2: Significant observable inputs for the assets Level 3: Significant unobservable inputs for the assets May 2, 2020 May 4, 2019 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (millions) Marketable equity and debt securities $ 102 $ 28 $ 74 $ — $ 110 $ 31 $ 79 $ — 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. Goodwill and other indefinite-lived intangible assets, are evaluated for impairment annually or more frequently if events or conditions indicate the carrying value of a reporting unit or an indefinite-lived intangible asset may not be recoverable. Impairment testing compares the carrying amount of the reporting unit or other intangible assets with its fair value. During the 13 weeks ended May 2, 2020 , the Company performed an interim impairment test for goodwill. The fair value was calculated using a guideline public company method, discounted cash flow or a combination of both for the reporting units. The fair value of goodwill is a Level 3 valuation based on certain unobservable inputs including projected cash flows and estimated risk-adjusted rates of return that would be utilized by market participants in valuing these assets or prices of similar assets. During the 13 weeks ended May 2, 2020 , long-lived and right of use assets were tested for impairment. The fair values of these assets is a Level 3 valuation based on certain unobservalbe inputs including projected cash flows and an estimated risk-adjusted rate of return that would be utilized by market participants in valuing these assets or prices of similar assets. The following table shows the estimated fair value of the Company's long-term debt: May 2, 2020 May 4, 2019 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 4,903 $ 4,918 $ 3,698 $ 4,667 $ 4,680 $ 4,614

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	May 02, 2020
Condensed Financial Information 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 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." In June 2020, in conjunction with the financing discussed in Note 7, "Financing Activities," Macy's Retail Holdings, Inc. was converted into a limited liability company and in May 2020 direct, wholly-owned subsidiaries of the Parent, Macy’s Inventory Holdings LLC and Macy’s Propco Holdings, LLC, were created. Condensed Consolidating Statements of Comprehensive Income for the 13 weeks ended May 2, 2020 and May 4, 2019 , Condensed Consolidating Balance Sheets as of May 2, 2020 , May 4, 2019 and February 1, 2020 , and the related Condensed Consolidating Statements of Cash Flows for the 13 weeks ended May 2, 2020 and May 4, 2019 are presented on the following pages. Condensed Consolidating Statement of Comprehensive Income (Loss) For the 13 Weeks Ended May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 867 $ 2,955 $ (805 ) $ 3,017 Credit card revenues (expense), net — (5 ) 136 — 131 Cost of sales — (796 ) (2,510 ) 805 (2,501 ) Selling, general and administrative expenses — (562 ) (1,036 ) — (1,598 ) Gains on sale of real estate — — 16 — 16 Impairment, restructuring and other costs — (2,722 ) (462 ) — (3,184 ) Operating loss — (3,218 ) (901 ) — (4,119 ) Benefit plan income, net — 3 6 — 9 Interest (expense) income, net: External 1 (49 ) 1 — (47 ) Intercompany — (18 ) 18 — — Equity in loss of subsidiaries (3,582 ) (795 ) — 4,377 — Loss before income taxes (3,581 ) (4,077 ) (876 ) 4,377 (4,157 ) Federal, state and local income — 427 149 — 576 Net loss $ (3,581 ) $ (3,650 ) $ (727 ) $ 4,377 $ (3,581 ) Comprehensive loss $ (3,572 ) $ (3,641 ) $ (721 ) $ 4,362 $ (3,572 ) Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,154 $ 4,768 $ (1,418 ) $ 5,504 Credit card revenues, net — (2 ) 174 — 172 Cost of sales — (1,341 ) (3,480 ) 1,418 (3,403 ) Selling, general and administrative expenses — (803 ) (1,309 ) — (2,112 ) Gains on sale of real estate — 24 19 — 43 Impairment and other costs — — (1 ) — (1 ) Operating income — 32 171 — 203 Benefit plan income, net — 3 4 — 7 Interest (expense) income, net: External 5 (53 ) 1 — (47 ) Intercompany — (19 ) 19 — — Equity in earnings (loss) of subsidiaries 132 (30 ) — (102 ) — Income (loss) before income taxes 137 (67 ) 195 (102 ) 163 Federal, state and local income (1 ) 24 (50 ) — (27 ) Net income (loss) $ 136 $ (43 ) $ 145 $ (102 ) $ 136 Comprehensive income (loss) $ 142 $ (38 ) $ 149 $ (111 ) $ 142 Condensed Consolidating Balance Sheet As of May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,160 $ 25 $ 338 $ — $ 1,523 Receivables — 23 147 — 170 Merchandise inventories — 2,072 2,851 — 4,923 Income taxes — — 3 (3 ) — Prepaid expenses and other current assets — 102 417 — 519 Total Current Assets 1,160 2,222 3,756 (3 ) 7,135 Property and Equipment – net — 2,978 3,447 — 6,425 Right of Use Assets — 600 2,072 — 2,672 Goodwill — 670 168 — 838 Other Intangible Assets – net — 4 435 — 439 Other Assets 418 46 608 — 1,072 Deferred Income Taxes 11 — — (11 ) — Intercompany Receivable 1,598 — 677 (2,275 ) — Investment in Subsidiaries — 2,010 — (2,010 ) — Total Assets $ 3,187 $ 8,530 $ 11,163 $ (4,299 ) $ 18,581 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 739 $ — $ — $ 739 Merchandise accounts payable — 928 1,268 — 2,196 Accounts payable and accrued liabilities 14 719 2,024 — 2,757 Income taxes 65 18 — (3 ) 80 Total Current Liabilities 79 2,404 3,292 (3 ) 5,772 Long-Term Debt — 4,918 — — 4,918 Long-Term Lease Liabilities — 548 2,375 — 2,923 Intercompany Payable — 2,275 — (2,275 ) — Deferred Income Taxes — 377 578 (11 ) 944 Other Liabilities 25 407 895 — 1,327 Accumulated Losses from Subsidiaries 386 — — (386 ) — Shareholders' Equity (Deficit) 2,697 (2,399 ) 4,023 (1,624 ) 2,697 Total Liabilities and Shareholders' Equity $ 3,187 $ 8,530 $ 11,163 $ (4,299 ) $ 18,581 Condensed Consolidating Balance Sheet As of May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 293 $ 151 $ 293 $ — $ 737 Receivables — 40 197 — 237 Merchandise inventories — 2,369 3,129 — 5,498 Prepaid expenses and other current assets — 163 470 — 633 Total Current Assets 293 2,723 4,089 — 7,105 Property and Equipment – net — 3,202 3,297 — 6,499 Right of Use Assets — 677 1,954 — 2,631 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 5 436 — 441 Other Assets — 28 684 — 712 Deferred Income Taxes 6 — — (6 ) — Intercompany Receivable 2,436 — 886 (3,322 ) — Investment in Subsidiaries 3,776 3,061 — (6,837 ) — Total Assets $ 6,511 $ 13,022 $ 11,928 $ (10,165 ) $ 21,296 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 41 $ — $ — $ 41 Merchandise accounts payable — 845 1,105 — 1,950 Accounts payable and accrued liabilities 73 786 1,987 — 2,846 Income taxes 87 61 34 — 182 Total Current Liabilities 160 1,733 3,126 — 5,019 Long-Term Debt — 4,680 — — 4,680 Long-Term Lease Liabilities — 607 2,216 — 2,823 Intercompany Payable — 3,322 — (3,322 ) — Deferred Income Taxes — 626 573 (6 ) 1,193 Other Liabilities 28 341 889 — 1,258 Shareholders' Equity 6,323 1,713 5,124 (6,837 ) 6,323 Total Liabilities and Shareholders' Equity $ 6,511 $ 13,022 $ 11,928 $ (10,165 ) $ 21,296 Condensed Consolidating Balance Sheet As of February 1, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 413 $ 59 $ 213 $ — $ 685 Receivables — 83 326 — 409 Merchandise inventories — 2,239 2,949 — 5,188 Prepaid expenses and other current assets — 118 410 — 528 Total Current Assets 413 2,499 3,898 — 6,810 Property and Equipment – net — 3,103 3,530 — 6,633 Right of Use Assets — 611 2,057 — 2,668 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 4 435 — 439 Other Assets — 37 677 — 714 Deferred Income Taxes 12 — — (12 ) — Intercompany Receivable 2,675 — 1,128 (3,803 ) — Investment in Subsidiaries 3,433 2,796 — (6,229 ) — Total Assets $ 6,533 $ 12,376 $ 12,307 $ (10,044 ) $ 21,172 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 539 $ — $ — $ 539 Merchandise accounts payable — 702 980 — 1,682 Accounts payable and accrued liabilities 126 909 2,413 — 3,448 Income taxes 5 11 65 — 81 Total Current Liabilities 131 2,161 3,458 — 5,750 Long-Term Debt — 3,621 — — 3,621 Long-Term Lease Liabilities — 543 2,375 — 2,918 Intercompany Payable — 3,803 — (3,803 ) — Deferred Income Taxes — 595 586 (12 ) 1,169 Other Liabilities 25 414 898 — 1,337 Shareholders' Equity 6,377 1,239 4,990 (6,229 ) 6,377 Total Liabilities and Shareholders' Equity $ 6,533 $ 12,376 $ 12,307 $ (10,044 ) $ 21,172 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net loss $ (3,581 ) $ (3,650 ) $ (727 ) $ 4,377 $ (3,581 ) Impairment, restructuring and other costs — 2,722 462 — 3,184 Equity in loss of subsidiaries 3,582 795 — (4,377 ) — Dividends received from subsidiaries 251 — — (251 ) — Depreciation and amortization — 77 160 — 237 Gains on sale of real estate — — (16 ) — (16 ) Changes in assets, liabilities and other items not separately identified (353 ) 151 214 — 12 Net cash provided (used) by operating activities (101 ) 95 93 (251 ) (164 ) Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (34 ) (105 ) — (139 ) Other, net — — 26 — 26 Net cash used by investing activities — (34 ) (79 ) — (113 ) Cash flows from financing activities: Debt issued, net of debt repaid — 1,497 (1 ) — 1,496 Dividends paid (117 ) — (251 ) 251 (117 ) Intercompany activity, net 1,082 (1,529 ) 447 — — Other, net (117 ) (68 ) (46 ) — (231 ) Net cash provided (used) by financing activities 848 (100 ) 149 251 1,148 Net increase (decrease) in cash, cash equivalents and restricted cash 747 (39 ) 163 — 871 Cash, cash equivalents and restricted cash at beginning of period 413 64 254 — 731 Cash, cash equivalents and restricted cash at end of period $ 1,160 $ 25 $ 417 $ — $ 1,602 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 136 $ (43 ) $ 145 $ (102 ) $ 136 Impairment and other costs — — 1 — 1 Equity in loss (earnings) of subsidiaries (132 ) 30 — 102 — Dividends received from subsidiaries 225 — — (225 ) — Depreciation and amortization — 85 151 — 236 Gains on sale of real estate — (24 ) (19 ) — (43 ) Changes in assets, liabilities and other items not separately identified 78 (118 ) (328 ) — (368 ) Net cash provided (used) by operating activities 307 (70 ) (50 ) (225 ) (38 ) Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (52 ) (178 ) — (230 ) Other, net — — (7 ) — (7 ) Net cash used by investing activities — (52 ) (185 ) — (237 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (116 ) — (225 ) 225 (116 ) Issuance of common stock 6 — — — 6 Intercompany activity, net (700 ) 214 486 — — Other, net (93 ) 28 20 — (45 ) Net cash provided (used) by financing activities (903 ) 239 281 225 (158 ) Net increase (decrease) in cash, cash equivalents and restricted cash (596 ) 117 46 — (433 ) Cash, cash equivalents and restricted cash at beginning of period 889 64 295 — 1,248 Cash, cash equivalents and restricted cash at end of period $ 293 $ 181 $ 341 $ — $ 815

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	May 02, 2020
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 kids'), cosmetics, home furnishings and other consumer goods. The Company has stores in 43 states, the District of Columbia, Guam and Puerto Rico. As of May 2, 2020 , the Company's operations were conducted through Macy's, Bloomingdale's, Bloomingdale's The Outlet, Macy's Backstage and bluemercury. 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 1, 2020 (the "2019 10-K"). The accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto in the 2019 10-K.
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. The Company considered the novel coronavirus ("COVID-19") related impacts to its estimates, as appropriate, within its Consolidated Financial Statements and there may be changes to those estimates in future periods. The Company believes that the accounting estimates are appropriate after giving consideration to the increased uncertainties surrounding the severity and duration of the COVID-19 pandemic. 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 2, 2020 and May 4, 2019 , 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.
Comprehensive Income	Comprehensive Income (Loss) Total comprehensive income (loss) represents the change in equity during a period from sources other than transactions with shareholders and, as such, includes net income (loss). For the Company, the only other components of total comprehensive income (loss) for the 13 weeks ended May 2, 2020 and May 4, 2019 relate to post employment and postretirement plan items. Settlement charges incurred are included as a separate component of income (loss) before income taxes in the Consolidated Statements of Operations. Amortization reclassifications out of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income) and are included in benefit plan income, net on the Consolidated Statements of Operations. See Note 8, "Benefit Plans," for further information.

Revenue Recognition (Policies)

Revenue Recognition (Policies)	3 Months Ended
	May 02, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Net sales 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, inclusive of delivery income, 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 the 13 weeks ended May 2, 2020 and May 4, 2019 , Macy's accounted for 87% and 88% of the Company's net sales, respectively. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 2, 2020 and May 4, 2019 were as follows: 13 Weeks Ended Net sales by family of business May 2, 2020 May 4, 2019 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 1,215 $ 2,152 Women's Apparel 579 1,313 Men's and Kids' 573 1,202 Home/Other (a) 650 837 Total $ 3,017 $ 5,504 (a) Other primarily includes restaurant sales, allowance for merchandise returns adjustments 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 $184 million , $269 million and $294 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively. Included in prepaid expenses and other current assets is an asset totaling $130 million , $147 million and $200 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively, for the recoverable cost of merchandise estimated to be returned by customers. Gift Cards and Customer Loyalty Programs The Company only offers no-fee, non-expiring gift cards to its customers. At the time gift cards are sold or issued, 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 on a pro-rata basis 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 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 third-party credit cards. 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 unredeemed gift cards and customer loyalty programs is included in accounts payable and accrued liabilities on the Company's Consolidated Balance Sheets and was $732 million , $839 million and $696 million as of May 2, 2020 , February 1, 2020 and May 4, 2019 , respectively. Credit Card Revenues, net

Impairment, Restructuring and_2

Impairment, Restructuring and Other Costs (Tables)	3 Months Ended
	May 02, 2020
Restructuring Costs and Asset Impairment Charges [Abstract]
Restructuring, Impairments, Store Closing and Other Costs	13 Weeks Ended May 2, 2020 May 4, 2019 (millions) Impairments $ 3,150 $ — Restructuring 25 — Other 9 1 Total $ 3,184 $ 1
Schedule of Restructuring Reserve by Type of Cost	A summary of the restructuring and other cash activity for the 13 weeks ended May 2, 2020 related to the Polaris strategy, which was announced in February 2020 and are included within accounts payable and accrued liabilities, is as follows: Severance and other benefits Professional fees and other related charges Total (millions) Balance at February 1, 2020 $ 115 $ 9 $ 124 Additions charged to expense 25 7 32 Cash payments (82 ) (6 ) (88 ) Balance at May 2, 2020 $ 58 $ 10 $ 68

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	May 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Company's Goodwill and Other Intangible Assets	May 2, February 1, May 4, (millions) Non-amortizing intangible assets Goodwill $ 9,290 $ 9,290 $ 9,290 Accumulated impairment losses (8,452 ) (5,382 ) (5,382 ) 838 3,908 3,908 Tradenames 403 403 403 $ 1,241 $ 4,311 $ 4,311

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following tables set forth the computation of basic and diluted earnings (loss) per share: 13 Weeks Ended May 2, 2020 May 4, 2019 Net Shares Net Shares (millions, except per share data) Net income (loss) $ (3,581 ) 309.7 $ 136 308.2 Shares to be issued under deferred compensation and other plans 0.9 0.9 $ (3,581 ) 310.6 $ 136 309.1 Basic earnings (loss) per share $ (11.53 ) $ 0.44 Effect of dilutive securities: Stock options and restricted stock units — 2.3 $ (3,581 ) 310.6 $ 136 311.4 Diluted earnings (loss) per share $ (11.53 ) $ 0.44

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	May 02, 2020
Revenue from Contract with Customer [Abstract]
Sales from Merchandise Category [Table Text Block]	For the 13 weeks ended May 2, 2020 and May 4, 2019 , Macy's accounted for 87% and 88% of the Company's net sales, respectively. Disaggregation of the Company's net sales by family of business for the 13 weeks ended May 2, 2020 and May 4, 2019 were as follows: 13 Weeks Ended Net sales by family of business May 2, 2020 May 4, 2019 (millions) Women's Accessories, Intimate Apparel, Shoes, Cosmetics and Fragrances $ 1,215 $ 2,152 Women's Apparel 579 1,313 Men's and Kids' 573 1,202 Home/Other (a) 650 837 Total $ 3,017 $ 5,504 (a) Other primarily includes restaurant sales, allowance for merchandise returns adjustments and breakage income from unredeemed gift cards.

Financing Activities (Tables)

Financing Activities (Tables)	3 Months Ended
	May 02, 2020
Extinguishment of Debt [Line Items]
Detail of Debt Repayments	The following table shows the detail of debt repayments: 13 Weeks Ended May 2, 2020 May 4, 2019 (millions) 9.5% Amortizing debentures due 2021 $ 2 $ 2 9.75% Amortizing debentures due 2021 1 1 $ 3 $ 3

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	May 02, 2020
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 2, 2020 May 4, 2019 (millions) 401(k) Qualified Defined Contribution Plan $ 13 $ 25 Non-Qualified Defined Contribution Plan $ — $ 1 Pension Plan Service cost $ 1 $ 1 Interest cost 19 26 Expected return on assets (45 ) (48 ) Recognition of net actuarial loss 10 7 Amortization of prior service credit — — $ (15 ) $ (14 ) Supplementary Retirement Plan Service cost $ — $ — Interest cost 4 6 Recognition of net actuarial loss 3 2 Amortization of prior service cost — — $ 7 $ 8 Total Retirement Expense $ 5 $ 20 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 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring 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: Level 1: Quoted prices in active markets for identical assets Level 2: Significant observable inputs for the assets Level 3: Significant unobservable inputs for the assets May 2, 2020 May 4, 2019 Fair Value Measurements Fair Value Measurements Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 (millions) Marketable equity and debt securities $ 102 $ 28 $ 74 $ — $ 110 $ 31 $ 79 $ —
Estimated Fair Values of Company's Long Term Debt	The following table shows the estimated fair value of the Company's long-term debt: May 2, 2020 May 4, 2019 Notional Amount Carrying Amount Fair Value Notional Amount Carrying Amount Fair Value (millions) Long-term debt $ 4,903 $ 4,918 $ 3,698 $ 4,667 $ 4,680 $ 4,614

Condensed Consolidating Finan_2

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	May 02, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet As of May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 1,160 $ 25 $ 338 $ — $ 1,523 Receivables — 23 147 — 170 Merchandise inventories — 2,072 2,851 — 4,923 Income taxes — — 3 (3 ) — Prepaid expenses and other current assets — 102 417 — 519 Total Current Assets 1,160 2,222 3,756 (3 ) 7,135 Property and Equipment – net — 2,978 3,447 — 6,425 Right of Use Assets — 600 2,072 — 2,672 Goodwill — 670 168 — 838 Other Intangible Assets – net — 4 435 — 439 Other Assets 418 46 608 — 1,072 Deferred Income Taxes 11 — — (11 ) — Intercompany Receivable 1,598 — 677 (2,275 ) — Investment in Subsidiaries — 2,010 — (2,010 ) — Total Assets $ 3,187 $ 8,530 $ 11,163 $ (4,299 ) $ 18,581 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 739 $ — $ — $ 739 Merchandise accounts payable — 928 1,268 — 2,196 Accounts payable and accrued liabilities 14 719 2,024 — 2,757 Income taxes 65 18 — (3 ) 80 Total Current Liabilities 79 2,404 3,292 (3 ) 5,772 Long-Term Debt — 4,918 — — 4,918 Long-Term Lease Liabilities — 548 2,375 — 2,923 Intercompany Payable — 2,275 — (2,275 ) — Deferred Income Taxes — 377 578 (11 ) 944 Other Liabilities 25 407 895 — 1,327 Accumulated Losses from Subsidiaries 386 — — (386 ) — Shareholders' Equity (Deficit) 2,697 (2,399 ) 4,023 (1,624 ) 2,697 Total Liabilities and Shareholders' Equity $ 3,187 $ 8,530 $ 11,163 $ (4,299 ) $ 18,581 Condensed Consolidating Balance Sheet As of May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 293 $ 151 $ 293 $ — $ 737 Receivables — 40 197 — 237 Merchandise inventories — 2,369 3,129 — 5,498 Prepaid expenses and other current assets — 163 470 — 633 Total Current Assets 293 2,723 4,089 — 7,105 Property and Equipment – net — 3,202 3,297 — 6,499 Right of Use Assets — 677 1,954 — 2,631 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 5 436 — 441 Other Assets — 28 684 — 712 Deferred Income Taxes 6 — — (6 ) — Intercompany Receivable 2,436 — 886 (3,322 ) — Investment in Subsidiaries 3,776 3,061 — (6,837 ) — Total Assets $ 6,511 $ 13,022 $ 11,928 $ (10,165 ) $ 21,296 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 41 $ — $ — $ 41 Merchandise accounts payable — 845 1,105 — 1,950 Accounts payable and accrued liabilities 73 786 1,987 — 2,846 Income taxes 87 61 34 — 182 Total Current Liabilities 160 1,733 3,126 — 5,019 Long-Term Debt — 4,680 — — 4,680 Long-Term Lease Liabilities — 607 2,216 — 2,823 Intercompany Payable — 3,322 — (3,322 ) — Deferred Income Taxes — 626 573 (6 ) 1,193 Other Liabilities 28 341 889 — 1,258 Shareholders' Equity 6,323 1,713 5,124 (6,837 ) 6,323 Total Liabilities and Shareholders' Equity $ 6,511 $ 13,022 $ 11,928 $ (10,165 ) $ 21,296 Condensed Consolidating Balance Sheet As of February 1, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated ASSETS: Current Assets: Cash and cash equivalents $ 413 $ 59 $ 213 $ — $ 685 Receivables — 83 326 — 409 Merchandise inventories — 2,239 2,949 — 5,188 Prepaid expenses and other current assets — 118 410 — 528 Total Current Assets 413 2,499 3,898 — 6,810 Property and Equipment – net — 3,103 3,530 — 6,633 Right of Use Assets — 611 2,057 — 2,668 Goodwill — 3,326 582 — 3,908 Other Intangible Assets – net — 4 435 — 439 Other Assets — 37 677 — 714 Deferred Income Taxes 12 — — (12 ) — Intercompany Receivable 2,675 — 1,128 (3,803 ) — Investment in Subsidiaries 3,433 2,796 — (6,229 ) — Total Assets $ 6,533 $ 12,376 $ 12,307 $ (10,044 ) $ 21,172 LIABILITIES AND SHAREHOLDERS’ EQUITY: Current Liabilities: Short-term debt $ — $ 539 $ — $ — $ 539 Merchandise accounts payable — 702 980 — 1,682 Accounts payable and accrued liabilities 126 909 2,413 — 3,448 Income taxes 5 11 65 — 81 Total Current Liabilities 131 2,161 3,458 — 5,750 Long-Term Debt — 3,621 — — 3,621 Long-Term Lease Liabilities — 543 2,375 — 2,918 Intercompany Payable — 3,803 — (3,803 ) — Deferred Income Taxes — 595 586 (12 ) 1,169 Other Liabilities 25 414 898 — 1,337 Shareholders' Equity 6,377 1,239 4,990 (6,229 ) 6,377 Total Liabilities and Shareholders' Equity $ 6,533 $ 12,376 $ 12,307 $ (10,044 ) $ 21,172
Condensed Consolidating Statement of Cash Flows [Table Text Block]	Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net loss $ (3,581 ) $ (3,650 ) $ (727 ) $ 4,377 $ (3,581 ) Impairment, restructuring and other costs — 2,722 462 — 3,184 Equity in loss of subsidiaries 3,582 795 — (4,377 ) — Dividends received from subsidiaries 251 — — (251 ) — Depreciation and amortization — 77 160 — 237 Gains on sale of real estate — — (16 ) — (16 ) Changes in assets, liabilities and other items not separately identified (353 ) 151 214 — 12 Net cash provided (used) by operating activities (101 ) 95 93 (251 ) (164 ) Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (34 ) (105 ) — (139 ) Other, net — — 26 — 26 Net cash used by investing activities — (34 ) (79 ) — (113 ) Cash flows from financing activities: Debt issued, net of debt repaid — 1,497 (1 ) — 1,496 Dividends paid (117 ) — (251 ) 251 (117 ) Intercompany activity, net 1,082 (1,529 ) 447 — — Other, net (117 ) (68 ) (46 ) — (231 ) Net cash provided (used) by financing activities 848 (100 ) 149 251 1,148 Net increase (decrease) in cash, cash equivalents and restricted cash 747 (39 ) 163 — 871 Cash, cash equivalents and restricted cash at beginning of period 413 64 254 — 731 Cash, cash equivalents and restricted cash at end of period $ 1,160 $ 25 $ 417 $ — $ 1,602 Condensed Consolidating Statement of Cash Flows For the 13 Weeks Ended May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Cash flows from operating activities: Net income (loss) $ 136 $ (43 ) $ 145 $ (102 ) $ 136 Impairment and other costs — — 1 — 1 Equity in loss (earnings) of subsidiaries (132 ) 30 — 102 — Dividends received from subsidiaries 225 — — (225 ) — Depreciation and amortization — 85 151 — 236 Gains on sale of real estate — (24 ) (19 ) — (43 ) Changes in assets, liabilities and other items not separately identified 78 (118 ) (328 ) — (368 ) Net cash provided (used) by operating activities 307 (70 ) (50 ) (225 ) (38 ) Cash flows from investing activities: Purchase of property and equipment and capitalized software, net of dispositions — (52 ) (178 ) — (230 ) Other, net — — (7 ) — (7 ) Net cash used by investing activities — (52 ) (185 ) — (237 ) Cash flows from financing activities: Debt repaid — (3 ) — — (3 ) Dividends paid (116 ) — (225 ) 225 (116 ) Issuance of common stock 6 — — — 6 Intercompany activity, net (700 ) 214 486 — — Other, net (93 ) 28 20 — (45 ) Net cash provided (used) by financing activities (903 ) 239 281 225 (158 ) Net increase (decrease) in cash, cash equivalents and restricted cash (596 ) 117 46 — (433 ) Cash, cash equivalents and restricted cash at beginning of period 889 64 295 — 1,248 Cash, cash equivalents and restricted cash at end of period $ 293 $ 181 $ 341 $ — $ 815
Condensed Consolidating Statement of Comprehensive Income [Table Text Block]	Condensed Consolidating Statement of Comprehensive Income (Loss) For the 13 Weeks Ended May 2, 2020 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 867 $ 2,955 $ (805 ) $ 3,017 Credit card revenues (expense), net — (5 ) 136 — 131 Cost of sales — (796 ) (2,510 ) 805 (2,501 ) Selling, general and administrative expenses — (562 ) (1,036 ) — (1,598 ) Gains on sale of real estate — — 16 — 16 Impairment, restructuring and other costs — (2,722 ) (462 ) — (3,184 ) Operating loss — (3,218 ) (901 ) — (4,119 ) Benefit plan income, net — 3 6 — 9 Interest (expense) income, net: External 1 (49 ) 1 — (47 ) Intercompany — (18 ) 18 — — Equity in loss of subsidiaries (3,582 ) (795 ) — 4,377 — Loss before income taxes (3,581 ) (4,077 ) (876 ) 4,377 (4,157 ) Federal, state and local income — 427 149 — 576 Net loss $ (3,581 ) $ (3,650 ) $ (727 ) $ 4,377 $ (3,581 ) Comprehensive loss $ (3,572 ) $ (3,641 ) $ (721 ) $ 4,362 $ (3,572 ) Condensed Consolidating Statement of Comprehensive Income For the 13 Weeks Ended May 4, 2019 (millions) Parent Subsidiary Issuer Other Subsidiaries Consolidating Adjustments Consolidated Net sales $ — $ 2,154 $ 4,768 $ (1,418 ) $ 5,504 Credit card revenues, net — (2 ) 174 — 172 Cost of sales — (1,341 ) (3,480 ) 1,418 (3,403 ) Selling, general and administrative expenses — (803 ) (1,309 ) — (2,112 ) Gains on sale of real estate — 24 19 — 43 Impairment and other costs — — (1 ) — (1 ) Operating income — 32 171 — 203 Benefit plan income, net — 3 4 — 7 Interest (expense) income, net: External 5 (53 ) 1 — (47 ) Intercompany — (19 ) 19 — — Equity in earnings (loss) of subsidiaries 132 (30 ) — (102 ) — Income (loss) before income taxes 137 (67 ) 195 (102 ) 163 Federal, state and local income (1 ) 24 (50 ) — (27 ) Net income (loss) $ 136 $ (43 ) $ 145 $ (102 ) $ 136 Comprehensive income (loss) $ 142 $ (38 ) $ 149 $ (111 ) $ 142

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details)	May 02, 2020
Number of states in which entity operates	43

Impact of COVID-19 (Details)

Impact of COVID-19 (Details) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2020USD ($)employee	May 02, 2020USD ($)Rate	May 04, 2019USD ($)
Unusual or Infrequent Item, or Both [Line Items]
Inventory write-down, COVID-19		$ 300
Proceeds from Lines of Credit		$ 1,500	$ 0
Tax carryback rate, COVID-19 | Rate		35.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | Rate		21.00%
Income tax receivable, COVID-19		$ 351
Employee retention payroll tax credits, COVID-19		42
Subsequent Event
Unusual or Infrequent Item, or Both [Line Items]
Total financing activities, COVID-19	$ 4,500
Headcount reduction, COVID-19 | employee	3,900
Restructuring expense, COVID-19	$ 180
Revolving Credit Facility [Member]
Unusual or Infrequent Item, or Both [Line Items]
Proceeds from Lines of Credit		$ 1,500

Impairment, Restructuring and_3

Impairment, Restructuring and Other Costs - Schedule of Restructuring, Impairment, Store Closing and Other Costs (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Restructuring Costs and Asset Impairment Charges [Abstract]
Impairments	$ 3,150	$ 0
Restructuring	25	0
Other	9	1
Total	$ 3,184	$ 1

- Narrative (Details)

- Narrative (Details) $ in Millions	3 Months Ended
	May 02, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Tangible asset impairment, COVID-19	$ 80
Goodwill impairment, COVID-19	3,070
Macy's Reporting Unit
Restructuring Cost and Reserve [Line Items]
Goodwill impairment, COVID-19	2,972
Bluemercury Reporting Unit
Restructuring Cost and Reserve [Line Items]
Goodwill impairment, COVID-19	$ 98

Impairment, Restructuring and_4

Impairment, Restructuring and Other Costs - Restructuring Reserve Activity (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Restructuring Reserve [Roll Forward]
Additions charged to expense	$ 9	$ 1
Polaris Strategy
Restructuring Reserve [Roll Forward]
Balance at February 1, 2020	68	124	$ 124
Additions charged to expense			32
Cash payments			(88)
Balance at May 2, 2020			68
Employee Severance | Polaris Strategy
Restructuring Reserve [Roll Forward]
Balance at February 1, 2020	58	115	115
Additions charged to expense			25
Cash payments			(82)
Balance at May 2, 2020			58
Other Restructuring | Polaris Strategy
Restructuring Reserve [Roll Forward]
Balance at February 1, 2020	$ 10	$ 9	9
Additions charged to expense			7
Cash payments			(6)
Balance at May 2, 2020			$ 10

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Company's Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 9,290	$ 9,290	$ 9,290
Accumulated impairment losses	(8,452)	(5,382)	(5,382)
Net goodwill, Non-amortizing intangible assets	838	3,908	3,908
Tradenames	403	403	403
Net non-amortizing intangible assets	$ 1,241	$ 4,311	$ 4,311

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended
	May 02, 2020USD ($)
Goodwill impairment, COVID-19	$ 3,070
Macy's Reporting Unit
Goodwill impairment, COVID-19	2,972
Bluemercury Reporting Unit
Goodwill impairment, COVID-19	$ 98

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	17.3	16.9
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3.4	2.2

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 02, 2020	May 04, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ (3,581)	$ 136
Net Income (Loss) Available to Common Stockholders, Basic	(3,581)	136
Net Income (Loss) Available to Common Stockholders, Diluted	$ (3,581)	$ 136
Basic earnings (loss) per share	$ (11.53)	$ 0.44
Diluted earnings (loss) per share	$ (11.53)	$ 0.44
Weighted Average Number of Shares Issued, Basic	309.7	308.2
Shares to be issued under deferred compensation and other plans	0.9	0.9
Average number of shares outstanding, basic	310.6	309.1
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0	2.3
Average number of shares outstanding, diluted	310.6	311.4

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Net sales	$ 3,017	$ 5,504
Contract with Customer, Liability, Current	$ 732	$ 696	$ 839
Macy's sales to total Company sales	87.00%	88.00%
Contract with Customer, Refund Liability	$ 184	$ 294	269
Contract with Customer, Right to Recover Product	130	200	$ 147
Women's Accessories, Intimate Apparel, Shoes and Cosmetics [Member]
Net sales	1,215	2,152
Women's Apparel [Member]
Net sales	579	1,313
Men's and Children's [Member]
Net sales	573	1,202
Home and Miscellaneous [Member]
Net sales	650	837
Total Sales - All Categories [Member]
Net sales	$ 3,017	$ 5,504

Financing Activities - Detail O

Financing Activities - Detail Of Debt Repayments (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Repayments of Debt	$ 3	$ 3
9.5% Amortizing debentures due 2021
Interest rate stated percentage		9.50%
Extinguishment of debt	2	$ 2
9.75% Amortizing Debentures due 2021
Interest rate stated percentage		9.75%
Extinguishment of debt	$ 1	$ 1

Financing Activities - Narrativ

Financing Activities - Narrative (Details) - USD ($)	Jun. 08, 2020	May 02, 2020	May 04, 2019	Jun. 30, 2020
Proceeds from Lines of Credit		$ 1,500,000,000	$ 0
Revolving Credit Facility [Member]
Proceeds from Lines of Credit		1,500,000,000
Subsequent Event | New 2024 Notes
Interest rate stated percentage				6.65%
Subsequent Event | 6.65% senior debentures due 2024
Interest rate stated percentage				6.65%
Subsequent Event | New 2028 Notes
Interest rate stated percentage				6.70%
Subsequent Event | 6.7% senior notes due 2028
Interest rate stated percentage				6.70%
Subsequent Event | New 2029 Notes
Interest rate stated percentage				8.75%
Subsequent Event | Old 2029 Notes
Interest rate stated percentage				8.75%
Subsequent Event | New 2030 Notes
Interest rate stated percentage				7.875%
Subsequent Event | Old 2030 Notes
Interest rate stated percentage				7.875%
Subsequent Event | New 2032 Notes
Interest rate stated percentage				6.90%
Subsequent Event | Old 2032 Notes
Interest rate stated percentage				6.90%
Subsequent Event | New 2034 Notes
Interest rate stated percentage				6.70%
Subsequent Event | Old 2034 Notes
Interest rate stated percentage				6.70%
Subsequent Event | Revolving Credit Facility [Member] | April 30, 2021 or After
Percent of loan cap	10.00%
Availability plus suppressed availability	$ 250,000,000
Subsequent Event | Revolving Credit Facility [Member] | Prior to April 30, 2021
Percent of loan cap	10.00%
Availability plus suppressed availability	$ 250,000,000
Subsequent Event | ABL Borrower | Revolving Credit Facility [Member]
Additional borrowing capacity available	$ 750,000,000
Liquidation percentage	80.00%
Liquidation percentage, upon satisfaction of certain conditions	90.00%
Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Revolving ABL Facility
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,851,000,000
Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Bridge Facility
Line of Credit Facility, Maximum Borrowing Capacity	300,000,000
Senior Notes | Subsequent Event
Face amount	$ 1,300,000,000
Interest rate stated percentage	8.375%
Minimum
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,500,000,000
Minimum | Subsequent Event
Current borrowing capacity	$ 75,000,000
Minimum | Subsequent Event | Revolving Credit Facility [Member]
Coverage ratio	1
Minimum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Prior to Step Down Date | London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	2.75%
Minimum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Prior to Step Down Date | Base Rate
Basis spread on variable rate	1.75%
Minimum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | After Step Down Date | London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	2.25%
Minimum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | After Step Down Date | Base Rate
Basis spread on variable rate	1.25%
Maximum | Subsequent Event | Revolving Credit Facility [Member]
Coverage ratio	1
Maximum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Prior to Step Down Date | London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	3.00%
Maximum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | Prior to Step Down Date | Base Rate
Basis spread on variable rate	2.00%
Maximum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | After Step Down Date | London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	2.50%
Maximum | Subsequent Event | ABL Borrower | Revolving Credit Facility [Member] | After Step Down Date | Base Rate
Basis spread on variable rate	1.50%

Benefit Plans (Net Periodic Ben

Benefit Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Total Retirement Expense	$ 5	$ 20
Nonqualified Plan [Member]
Defined contribution plans expense	0	1
Qualified Plan [Member]
Defined contribution plans expense	13	25
Pension Plan [Member]
Service cost	1	1
Interest cost	19	26
Expected return on assets	(45)	(48)
Recognition of net actuarial (gain) loss	10	7
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(15)	(14)
Supplemental Employee Retirement Plan [Member]
Service cost	0	0
Interest cost	4	6
Recognition of net actuarial (gain) loss	3	2
Amortization of prior service credit	0	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	7	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 02, 2020	May 04, 2019
Marketable equity and debt securities	$ 102	$ 110
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable equity and debt securities	28	31
Significant Observable Inputs (Level 2) [Member]
Marketable equity and debt securities	74	79
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 02, 2020	May 04, 2019
Long-term debt	$ 3,698	$ 4,614
Carrying Amount
Long-term debt	4,918	4,680
Notional Amount
Long-term debt	$ 4,903	$ 4,667

Condensed Consolidating Finan_3

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Net sales	$ 3,017	$ 5,504
Credit card revenues, net	131	172
Cost of sales	(2,501)	(3,403)
Selling, general and administrative expenses	(1,598)	(2,112)
Gains on sale of real estate	16	43
Impairment, restructuring and other costs	(3,184)	(1)
Operating income (loss)	(4,119)	203
Benefit plan income, net	9	7
Interest (expense) income, net
External	(47)	(47)
Interest Expense, Other	0	0
Income (Loss) from Equity Method Investments	0	0
Income (loss) before income taxes	(4,157)	163
Federal, state and local income tax benefit (expense)	576	(27)
Net income (loss)	(3,581)	136
Net income (loss)	(3,581)	136
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(3,572)	142
Parent
Net sales	0	0
Credit card revenues, net	0	0
Cost of sales	0	0
Selling, general and administrative expenses	0	0
Gains on sale of real estate	0	0
Impairment, restructuring and other costs	0	0
Operating income (loss)	0	0
Benefit plan income, net	0	0
Interest (expense) income, net
External	1	5
Interest Expense, Other	0	0
Income (Loss) from Equity Method Investments	(3,582)	132
Income (loss) before income taxes	(3,581)	137
Federal, state and local income tax benefit (expense)	0	(1)
Net income (loss)	(3,581)	136
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(3,572)	142
Subsidiary Issuer
Net sales	867	2,154
Credit card revenues, net	(5)	(2)
Cost of sales	(796)	(1,341)
Selling, general and administrative expenses	(562)	(803)
Gains on sale of real estate	0	24
Impairment, restructuring and other costs	(2,722)	0
Operating income (loss)	(3,218)	32
Benefit plan income, net	3	3
Interest (expense) income, net
External	(49)	(53)
Interest Expense, Other	(18)	(19)
Income (Loss) from Equity Method Investments	(795)	(30)
Income (loss) before income taxes	(4,077)	(67)
Federal, state and local income tax benefit (expense)	427	24
Net income (loss)	(3,650)	(43)
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(3,641)	(38)
Other Subsidiaries
Net sales	2,955	4,768
Credit card revenues, net	136	174
Cost of sales	(2,510)	(3,480)
Selling, general and administrative expenses	(1,036)	(1,309)
Gains on sale of real estate	16	19
Impairment, restructuring and other costs	(462)	(1)
Operating income (loss)	(901)	171
Benefit plan income, net	6	4
Interest (expense) income, net
External	1	1
Interest Expense, Other	18	19
Income (Loss) from Equity Method Investments	0	0
Income (loss) before income taxes	(876)	195
Federal, state and local income tax benefit (expense)	149	(50)
Net income (loss)	(727)	145
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	(721)	149
Consolidation, Eliminations [Member]
Net sales	(805)	(1,418)
Credit card revenues, net	0	0
Cost of sales	805	1,418
Selling, general and administrative expenses	0	0
Gains on sale of real estate	0	0
Impairment, restructuring and other costs	0	0
Operating income (loss)	0	0
Benefit plan income, net	0	0
Interest (expense) income, net
External	0	0
Interest Expense, Other	0	0
Income (Loss) from Equity Method Investments	4,377	(102)
Income (loss) before income taxes	4,377	(102)
Federal, state and local income tax benefit (expense)	0	0
Net income (loss)	4,377	(102)
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	$ 4,362	$ (111)

Condensed Consolidating Finan_4

Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019	Feb. 02, 2019
Current Assets:
Cash and cash equivalents	$ 1,523	$ 685	$ 737
Receivables	170	409	237
Merchandise inventories	4,923	5,188	5,498
Prepaid expenses and other current assets	519	528	633
Income tax receivable	0
Total Current Assets	7,135	6,810	7,105
Property and Equipment - net	6,425	6,633	6,499
Right of Use Assets	2,672	2,668	2,631
Goodwill	838	3,908	3,908
Other Intangible Assets - net	439	439	441
Other Assets	1,072	714	712
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	0	0	0
Total Assets	18,581	21,172	21,296
Current Liabilities:
Short-term debt	739	539	41
Merchandise accounts payable	2,196	1,682	1,950
Accounts Payable and Accrued Liabilities	2,757	3,448	2,846
Income taxes	80	81	182
Total Current Liabilities	5,772	5,750	5,019
Long-Term Debt	4,918	3,621	4,680
Long-Term Lease Liabilities	2,923	2,918	2,823
Intercompany Payable	0	0	0
Deferred Income Taxes	944	1,169	1,193
Other Liabilities	1,327	1,337	1,258
Accumulated losses in subsidiaries	0
Shareholders' Equity, Macy's, Inc.	2,697	6,377	6,323
Total Shareholders’ Equity	2,697	6,377	6,323	$ 6,436
Total Liabilities and Shareholders' Equity	18,581	21,172	21,296
Parent
Current Assets:
Cash and cash equivalents	1,160	413	293
Receivables	0	0	0
Merchandise inventories	0	0	0
Prepaid expenses and other current assets	0	0	0
Income tax receivable	0
Total Current Assets	1,160	413	293
Property and Equipment - net	0	0	0
Right of Use Assets	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	418	0	0
Deferred Income Taxes	11	12	6
Intercompany Receivable	1,598	2,675	2,436
Investment in Subsidiaries	0	3,433	3,776
Total Assets	3,187	6,533	6,511
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts Payable and Accrued Liabilities	14	126	73
Income taxes	65	5	87
Total Current Liabilities	79	131	160
Long-Term Debt	0	0	0
Long-Term Lease Liabilities	0	0	0
Intercompany Payable	0	0	0
Deferred Income Taxes	0	0	0
Other Liabilities	25	25	28
Accumulated losses in subsidiaries	386
Shareholders' Equity, Macy's, Inc.	2,697	6,377	6,323
Total Liabilities and Shareholders' Equity	3,187	6,533	6,511
Subsidiary Issuer
Current Assets:
Cash and cash equivalents	25	59	151
Receivables	23	83	40
Merchandise inventories	2,072	2,239	2,369
Prepaid expenses and other current assets	102	118	163
Income tax receivable	0
Total Current Assets	2,222	2,499	2,723
Property and Equipment - net	2,978	3,103	3,202
Right of Use Assets	600	611	677
Goodwill	670	3,326	3,326
Other Intangible Assets - net	4	4	5
Other Assets	46	37	28
Deferred Income Taxes	0	0	0
Intercompany Receivable	0	0	0
Investment in Subsidiaries	2,010	2,796	3,061
Total Assets	8,530	12,376	13,022
Current Liabilities:
Short-term debt	739	539	41
Merchandise accounts payable	928	702	845
Accounts Payable and Accrued Liabilities	719	909	786
Income taxes	18	11	61
Total Current Liabilities	2,404	2,161	1,733
Long-Term Debt	4,918	3,621	4,680
Long-Term Lease Liabilities	548	543	607
Intercompany Payable	2,275	3,803	3,322
Deferred Income Taxes	377	595	626
Other Liabilities	407	414	341
Accumulated losses in subsidiaries	0
Shareholders' Equity, Macy's, Inc.	(2,399)	1,239	1,713
Total Liabilities and Shareholders' Equity	8,530	12,376	13,022
Other Subsidiaries
Current Assets:
Cash and cash equivalents	338	213	293
Receivables	147	326	197
Merchandise inventories	2,851	2,949	3,129
Prepaid expenses and other current assets	417	410	470
Income tax receivable	3
Total Current Assets	3,756	3,898	4,089
Property and Equipment - net	3,447	3,530	3,297
Right of Use Assets	2,072	2,057	1,954
Goodwill	168	582	582
Other Intangible Assets - net	435	435	436
Other Assets	608	677	684
Deferred Income Taxes	0	0	0
Intercompany Receivable	677	1,128	886
Investment in Subsidiaries	0	0	0
Total Assets	11,163	12,307	11,928
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	1,268	980	1,105
Accounts Payable and Accrued Liabilities	2,024	2,413	1,987
Income taxes	0	65	34
Total Current Liabilities	3,292	3,458	3,126
Long-Term Debt	0	0	0
Long-Term Lease Liabilities	2,375	2,375	2,216
Intercompany Payable	0	0	0
Deferred Income Taxes	578	586	573
Other Liabilities	895	898	889
Accumulated losses in subsidiaries	0
Shareholders' Equity, Macy's, Inc.	4,023	4,990	5,124
Total Liabilities and Shareholders' Equity	11,163	12,307	11,928
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
Income tax receivable	(3)
Total Current Assets	(3)	0	0
Property and Equipment - net	0	0	0
Right of Use Assets	0	0	0
Goodwill	0	0	0
Other Intangible Assets - net	0	0	0
Other Assets	0	0	0
Deferred Income Taxes	(11)	(12)	(6)
Intercompany Receivable	(2,275)	(3,803)	(3,322)
Investment in Subsidiaries	(2,010)	(6,229)	(6,837)
Total Assets	(4,299)	(10,044)	(10,165)
Current Liabilities:
Short-term debt	0	0	0
Merchandise accounts payable	0	0	0
Accounts Payable and Accrued Liabilities	0	0	0
Income taxes	(3)	0	0
Total Current Liabilities	(3)	0	0
Long-Term Debt	0	0	0
Long-Term Lease Liabilities	0	0	0
Intercompany Payable	(2,275)	(3,803)	(3,322)
Deferred Income Taxes	(11)	(12)	(6)
Other Liabilities	0	0	0
Accumulated losses in subsidiaries	(386)
Shareholders' Equity, Macy's, Inc.	(1,624)	(6,229)	(6,837)
Total Liabilities and Shareholders' Equity	$ (4,299)	$ (10,044)	$ (10,165)

Condensed Consolidating Finan_5

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019
Cash flows from operating activities:
Net income (loss)	$ (3,581)	$ 136
Impairment, restructuring and other costs	3,184	1
Equity in loss (earnings) of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	237	236
Gains on sale of real estate	(16)	(43)
Change in assets, liabilities and other items not separately identified	12	(368)
Net cash provided (used) by operating activities	(164)	(38)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	(139)	(230)
Other, net	26	(7)
Net cash used by investing activities	(113)	(237)
Cash flows from financing activities:
Debt issued, net of debt repaid	1,496	(3)
Dividends paid	(117)	(116)
Issuance or common stock	0	6
Intercompany activity, net	0	0
Other, net	(231)	(45)
Net cash provided (used) by financing activities	1,148	(158)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	871	(433)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	731	1,248
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,602	815
Parent
Cash flows from operating activities:
Net income (loss)	(3,581)	136
Impairment, restructuring and other costs	0	0
Equity in loss (earnings) of subsidiaries	3,582	(132)
Dividends received from subsidiaries	251	225
Depreciation and amortization	0	0
Gains on sale of real estate	0	0
Increase (Decrease) in Other Operating Assets and Liabilities, Net	353	(78)
Net cash provided (used) by operating activities	(101)	307
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	0	0
Other, net	0	0
Net cash used by investing activities	0	0
Cash flows from financing activities:
Debt issued, net of debt repaid	0	0
Dividends paid	(117)	(116)
Issuance of common stock, net of common stock acquired		6
Intercompany activity, net	1,082	(700)
Other, net	(117)	(93)
Net cash provided (used) by financing activities	848	(903)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	747	(596)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	413	889
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	1,160	293
Subsidiary Issuer
Cash flows from operating activities:
Net income (loss)	(3,650)	(43)
Impairment, restructuring and other costs	2,722	0
Equity in loss (earnings) of subsidiaries	795	30
Dividends received from subsidiaries	0	0
Depreciation and amortization	77	85
Gains on sale of real estate	0	(24)
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(151)	118
Net cash provided (used) by operating activities	95	(70)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	(34)	(52)
Other, net	0	0
Net cash used by investing activities	(34)	(52)
Cash flows from financing activities:
Debt issued, net of debt repaid	1,497	(3)
Dividends paid	0	0
Issuance of common stock, net of common stock acquired		0
Intercompany activity, net	(1,529)	214
Other, net	(68)	28
Net cash provided (used) by financing activities	(100)	239
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(39)	117
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	64	64
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	25	181
Other Subsidiaries
Cash flows from operating activities:
Net income (loss)	(727)	145
Impairment, restructuring and other costs	462	1
Equity in loss (earnings) of subsidiaries	0	0
Dividends received from subsidiaries	0	0
Depreciation and amortization	160	151
Gains on sale of real estate	(16)	(19)
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(214)	328
Net cash provided (used) by operating activities	93	(50)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	(105)	(178)
Other, net	26	(7)
Net cash used by investing activities	(79)	(185)
Cash flows from financing activities:
Debt issued, net of debt repaid	(1)	0
Dividends paid	(251)	(225)
Issuance of common stock, net of common stock acquired		0
Intercompany activity, net	447	486
Other, net	(46)	20
Net cash provided (used) by financing activities	149	281
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	163	46
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, beginning of period	254	295
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, end of period	417	341
Consolidating Adjustments
Cash flows from operating activities:
Net income (loss)	4,377	(102)
Impairment, restructuring and other costs	0	0
Equity in loss (earnings) of subsidiaries	(4,377)	102
Dividends received from subsidiaries	(251)	(225)
Depreciation and amortization	0	0
Gains on sale of real estate	0	0
Increase (Decrease) in Other Operating Assets and Liabilities, Net	0	0
Net cash provided (used) by operating activities	(251)	(225)
Cash flows from investing activities:
Purchase of property and equipment and capitalized software, net of dispositions	0	0
Other, net	0	0
Net cash used by investing activities	0	0
Cash flows from financing activities:
Debt issued, net of debt repaid	0	0
Dividends paid	251	225
Issuance of common stock, net of common stock acquired		0
Intercompany activity, net	0	0
Other, net	0	0
Net cash provided (used) by financing activities	251	225
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