← Macy's, Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $1.1b $619.0m $1.6b $1.1b $564.0m ($3.9b) $1.4b $1.2b $45.0m $582.0m $642.0m
Net Income (Loss) Available to Common Stockholders, Basic $1.1b $619.0m $1.6b $1.1b $564.0m ($3.9b) $1.4b $1.2b $45.0m $582.0m $642.0m
Gain (Loss) on Disposition of Real Estate, Discontinued Operations $212.0m — — — — — — — — — —
Net Income (Loss) Attributable to Noncontrolling Interest ($2.0m) ($8.0m) ($11.0m) ($10.0m) $0 — — — — — —
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $1.1b $611.0m $1.6b $1.1b $564.0m ($3.9b) $1.4b $1.2b $45.0m $582.0m —
Amortization of Debt Issuance Costs $6.0m $5.0m $7.0m $7.0m $6.0m $23.0m $26.0m $13.0m $12.0m $12.0m —
Amortization of Debt Issuance Costs and Discounts ($14.0m) ($14.0m) ($45.0m) ($15.0m) $4.0m $18.0m $70.0m $11.0m $10.0m $11.0m —
Amortization of Intangible Assets $23.0m $10.0m $10.0m $10.0m $3.0m $2.0m $2.0m $2.0m $2.0m — $5.0m
Amortization of financing costs and premium on acquired debt — ($14.0m) ($45.0m) ($15.0m) $4.0m $18.0m $70.0m $11.0m $10.0m $11.0m $8.0m
Capitalized Computer Software, Amortization — $293.0m $301.0m $296.0m $285.0m $268.0m $238.0m $235.0m $269.0m $310.0m $351.0m
Depreciation, Depletion and Amortization $1.1b $1.1b $991.0m $962.0m $981.0m $959.0m $874.0m $857.0m $897.0m $881.0m $894.0m
Deferred Income Tax Expense (Benefit) $0 ($129.0m) ($422.0m) $112.0m ($6.0m) ($327.0m) $19.0m ($38.0m) ($244.0m) ($52.0m) —
Deferred income taxes — — ($421.0m) $112.0m ($6.0m) ($327.0m) $19.0m ($38.0m) ($244.0m) ($52.0m) $62.0m
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — $7.0m — — — — — — — — —
Impairment, restructuring and other costs — $479.0m $186.0m $136.0m $354.0m $3.6b $30.0m $41.0m $1.0b $171.0m $230.0m
Restructuring Costs and Asset Impairment Charges — $479.0m $186.0m $136.0m $354.0m $3.6b $30.0m $41.0m $1.0b $171.0m —
Share-based Payment Arrangement, Noncash Expense $65.0m $61.0m $58.0m $63.0m $38.0m $31.0m $55.0m $54.0m $47.0m $58.0m —
Financing Interest Expense $380.0m $377.0m $332.0m $271.0m $214.0m $293.0m $270.0m $197.0m $198.0m $188.0m $167.0m
Gain (Loss) on Disposition of Property Plant Equipment — $209.0m — — — — — — — — —
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property — $209.0m $544.0m $389.0m $162.0m $60.0m $91.0m $89.0m $61.0m $144.0m —
Gain (Loss) on Extinguishment of Debt $0 $0 $10.0m ($33.0m) ($30.0m) $0 ($199.0m) ($31.0m) $0 ($1.0m) —
Income (Loss) from Equity Method Investments $0 $0 $0 $0 — — — — — — —
Income Tax Expense (Benefit) $608.0m $341.0m ($39.0m) $322.0m $164.0m ($846.0m) $436.0m $341.0m ($2.0m) $181.0m $207.0m
Operating Lease, Expense — — — — $418.0m $421.0m $407.0m — — — —
Changes in operating assets and liabilities:
Additional Financial Items
(Increase) decrease in prepaid expenses and other current assets — ($8.0m) ($14.0m) $21.0m $89.0m $51.0m ($39.0m) ($66.0m) $18.0m $11.0m ($13.0m)
(Increase) decrease in receivables — ($1.0m) $120.0m ($61.0m) ($9.0m) $132.0m ($21.0m) ($3.0m) $7.0m $2.0m ($325.0m)
Accrued capital expenditures $777.0m $596.0m $487.0m $657.0m $902.0m $338.0m $354.0m $888.0m $631.0m $518.0m —
Acquisition of treasury stock — ($316.0m) ($1.0m) $0 ($1.0m) ($1.0m) ($500.0m) ($601.0m) ($38.0m) ($1.0m) ($250.0m)
Benefit plans — — $35.0m $30.0m $31.0m $47.0m $34.0m $17.0m $4.0m $2.0m $2.0m
Capitalized software — ($316.0m) ($273.0m) ($275.0m) ($255.0m) ($128.0m) ($243.0m) ($407.0m) ($362.0m) ($364.0m) ($367.0m)
Change in other assets and liabilities — ($108.0m) ($127.0m) ($156.0m) ($132.0m) ($188.0m) ($186.0m) ($123.0m) ($104.0m) ($110.0m) ($119.0m)
Debt repaid — ($751.0m) ($954.0m) ($1.1b) ($597.0m) ($2.0b) ($2.7b) ($3.1b) ($963.0m) ($524.0m) ($846.0m)
Debt repurchase premium and expenses — — — — ($28.0m) ($7.0m) ($152.0m) ($29.0m) $0 $1.0m ($27.0m)
Decrease (increase) in merchandise inventories — $107.0m $221.0m ($87.0m) $75.0m $1.4b ($610.0m) $116.0m ($99.0m) ($51.0m) $51.0m
Decrease in accounts payable and accrued liabilities — ($162.0m) ($179.0m) $44.0m ($257.0m) ($759.0m) $245.0m ($174.0m) ($347.0m) ($49.0m) ($83.0m)
Decrease in merchandise accounts payable — — — $55.0m $40.0m $237.0m $218.0m ($129.0m) ($113.0m) ($11.0m) ($74.0m)
Gain (Loss) Related to Litigation Settlement — — — — — — — — — $0 $328.0m
Gains on sale of real estate — ($209.0m) ($544.0m) ($389.0m) ($162.0m) ($60.0m) ($91.0m) ($89.0m) ($61.0m) ($144.0m) ($48.0m)
Goodwill $3.9b $3.9b $3.9b $3.9b $3.9b $828.0m $828.0m $828.0m $828.0m $828.0m $828.0m
Increase (Decrease) in Accounts Payable ($78.0m) ($132.0m) $162.0m $55.0m — — — — — ($11.0m) —
Increase (Decrease) in Other Operating Assets $1.0m ($8.0m) — — — — — — — — —
Increase (Decrease) in Other Operating Liabilities ($88.0m) — — — — — — — — — —
Increase (decrease) in current income taxes — $125.0m ($114.0m) ($136.0m) ($60.0m) ($617.0m) $588.0m ($75.0m) $24.0m ($69.0m) $77.0m
Increase (decrease) in outstanding checks — $61.0m ($15.0m) $16.0m ($62.0m) $181.0m ($23.0m) ($181.0m) $2.0m $3.0m ($19.0m)
Interest received — $4.0m $12.0m $25.0m $20.0m $5.0m $1.0m $9.0m $38.0m $40.0m $42.0m
Investment Income, Interest $2.0m $4.0m $11.0m $25.0m $20.0m $4.0m $1.0m — — — —
Other, net — $52.0m ($24.0m) $2.0m ($30.0m) $28.0m $63.0m ($11.0m) ($6.0m) $7.0m ($6.0m)
Pension Expense (Reversal of Expense), Noncash — — — — $31.0m $47.0m $34.0m $17.0m $4.0m $2.0m —
Pension settlement charges — — — $88.0m $58.0m $84.0m $96.0m $39.0m $134.0m $46.0m $67.0m
Proceeds from Stock Options Exercised $125.0m $35.0m $6.0m $45.0m $6.0m $0 — — — — —
Proceeds from disposition of assets, net — $673.0m $411.0m $474.0m $185.0m $113.0m $164.0m $137.0m $86.0m $283.0m $107.0m
Stock or Unit Option Plan Expense $52.0m $43.0m $34.0m $24.0m $15.0m $8.0m $4.0m $3.0m $1.0m $0 —
Stock-based compensation expense — $61.0m $58.0m $63.0m $38.0m $31.0m $55.0m $54.0m $47.0m $58.0m $59.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement $0 ($98.0m) ($105.0m) ($88.0m) — ($84.0m) ($96.0m) ($39.0m) ($134.0m) ($46.0m) ($67.0m)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment — — — — ($58.0m) ($84.0m) ($96.0m) ($39.0m) ($134.0m) ($46.0m) —
Net Cash Provided by (Used in) Operating Activities $2.0b $1.8b $2.0b $1.7b $1.6b $649.0m $2.7b $1.6b $1.3b $1.3b $1.4b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $777.0m $596.0m $487.0m $657.0m $902.0m $338.0m $354.0m $888.0m $631.0m $518.0m ($373.0m)
Payments to Acquire Businesses, Net of Cash Acquired $212.0m $0 — — — — — — — — —
Payments for (Proceeds from) Other Investing Activities ($29.0m) ($52.0m) $2.0m ($2.0m) $30.0m ($28.0m) ($63.0m) $11.0m $6.0m ($7.0m) —
Net cash used by investing activities — ($187.0m) ($373.0m) ($456.0m) ($1.0b) ($325.0m) ($370.0m) ($1.2b) ($913.0m) ($592.0m) ($639.0m)
Net Cash Provided by (Used in) Investing Activities ($1.1b) ($187.0m) ($351.0m) ($456.0m) ($1.0b) ($325.0m) ($370.0m) ($1.2b) ($913.0m) ($592.0m) —
Cash flows from financing activities:
Debt issuance costs — ($3.0m) ($1.0m) $0 ($3.0m) ($95.0m) ($9.0m) ($21.0m) ($1.0m) ($1.0m) ($13.0m)
Debt issued — — — $0 $0 $2.8b $1.1b $2.8b $961.0m $301.0m $500.0m
Payments for Repurchase of Common Stock $2.0b $316.0m $1.0m $0 $1.0m $1.0m $500.0m $601.0m $38.0m $1.0m —
Payments of Ordinary Dividends, Common Stock $456.0m $459.0m $461.0m $463.0m $466.0m $117.0m $90.0m $173.0m $181.0m $192.0m —
Proceeds from Noncontrolling Interests $5.0m $6.0m $13.0m $7.0m $0 — — — — — —
Dividends paid — ($459) ($461) ($463) ($466) ($117) ($90) ($173) ($181) ($192) ($197)
Payments of Dividends $456.0m $459.0m $461.0m $463.0m $466.0m $117.0m $90.0m $173.0m $181.0m $192.0m —
Proceeds from (Payments for) Other Financing Activities ($87.0m) $58.0m ($15.0m) $16.0m — — — — — — —
Net cash used by financing activities — ($1.4b) ($1.4b) ($1.5b) ($1.1b) $699.0m ($2.4b) ($1.3b) ($220.0m) ($413.0m) ($852.0m)
Net Cash Provided by (Used in) Financing Activities ($2.0b) ($1.4b) ($1.4b) ($1.5b) ($1.1b) $699.0m ($2.4b) ($1.3b) ($220.0m) ($413.0m) —
Net (decrease) increase in cash, cash equivalents and restricted cash — $132.0m $179.0m ($265.0m) ($517.0m) $1.0b ($39.0m) ($850.0m) $172.0m $273.0m ($61.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — $132.0m $1.5b $1.2b $731.0m $1.8b $1.7b $865.0m $1.0b $1.3b —
Cash, cash equivalents and restricted cash beginning of period — $1.3b $1.5b $1.2b $731.0m $1.8b $1.7b $865.0m $1.0b $1.3b $1.2b
Restricted cash, end of period — — $58.0m $86.0m $46.0m $75.0m $3.0m $3.0m $3.0m $4.0m $3.0m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $383.0m $396.0m $361.0m $328.0m $242.0m $257.0m $442.0m $188.0m $157.0m $155.0m $167.0m
Income Taxes Paid, Net $635.0m $352.0m $496.0m $345.0m $229.0m $98.0m ($171.0m) $455.0m $240.0m $304.0m —

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.