Macy's, Inc. (M) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-02-01 to 2026-08-01

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Macy's, Inc. cash flow reconciliation, Feb 1, 2026 through Aug 1, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $232,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $416,000,000.00Decrease in receivables → Operating adjustments reconciliation: $382,000,000.00Increase (decrease) in merchandise accounts payable → Operating adjustments reconciliation: $47,000,000.00Stock-based compensation expense → Operating adjustments reconciliation: $32,000,000.00Deferred income taxes → Operating adjustments reconciliation: $22,000,000.00Amortization of financing costs and premium on acquired debt → Operating adjustments reconciliation: $3,000,000.00Benefit plans → Operating adjustments reconciliation: $3,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $354,000,000.00Operating adjustments reconciliation → Decrease in accounts payable and accrued liabilities: $389,000,000.00Operating adjustments reconciliation → Change in other assets and liabilities: $56,000,000.00Operating adjustments reconciliation → (Increase) decrease in merchandise inventories: $37,000,000.00Operating adjustments reconciliation → Increase in prepaid expenses and other current assets: $28,000,000.00Operating adjustments reconciliation → Gains on sale of real estate: $23,000,000.00Operating adjustments reconciliation → (Decrease) increase in current income taxes: $17,000,000.00Operating adjustments reconciliation → Impairment, restructuring and other (benefits) costs: $1,000,000.00Proceeds from disposition of assets, net → investing reconciliation: $35,000,000.00Other, net → investing reconciliation: $3,000,000.00Net cash used in investing activities → investing reconciliation: $286,000,000.00investing reconciliation → Capitalized software: $171,000,000.00investing reconciliation → Purchase of property and equipment: $153,000,000.00Net cash used in financing activities → financing reconciliation: $251,000,000.00Proceeds from Issuance or Sale of Equity → financing reconciliation: $3,000,000.00financing reconciliation → Acquisition of treasury stock: $104,000,000.00financing reconciliation → Dividends paid: $101,000,000.00financing reconciliation → Decrease in outstanding checks: $47,000,000.00financing reconciliation → Debt repaid: $2,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,249,000,000.00Net cash from operating activities → Cash sources and uses: $586,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,298,000,000.00Cash sources and uses → Net cash used in investing activities: $286,000,000.00Cash sources and uses → Net cash used in financing activities: $251,000,000.00Stock-based compensation expense: $32,000,000.00Stock-based compensation+$32.00 MAmortization of financing costs and premium on acquired debt: $3,000,000.00Debt cost amortization+$3.00 MImpairment, restructuring and other (benefits) costs: -$1,000,000.00Restructuring & impairments−$1.00 M(Decrease) increase in current income taxes: -$17,000,000.00Income taxes payable−$17.00 MNet income: $232,000,000.00Net income+$232.00 MBenefit plans: $3,000,000.00Pension expense, noncash+$3.00 MDepreciation and amortization: $416,000,000.00Depreciation & amortization+$416.00 MChange in other assets and liabilities: -$56,000,000.00Other noncurrent items−$56.00 MDeferred income taxes: $22,000,000.00Deferred income taxes+$22.00 M(Increase) decrease in merchandise inventories: -$37,000,000.00Merchandise inventories−$37.00 MDecrease in receivables: $382,000,000.00Receivables, net+$382.00 MIncrease in prepaid expenses and other current assets: -$28,000,000.00Prepaid expenses−$28.00 MGains on sale of real estate: -$23,000,000.00Asset sale gain & loss−$23.00 MIncrease (decrease) in merchandise accounts payable: $47,000,000.00Trade payables+$47.00 MDecrease in accounts payable and accrued liabilities: -$389,000,000.00Payables & accrued liabilities−$389.00 MNet cash from operating activities: $586,000,000.00Operating cash+$586.00 MOperating adjustments reconciliation: $905,000,000.00Debt issued: $0.00Debt issuance costs: $0.00Debt repaid: -$2,000,000.00Debt & lease obligations repaid−$2.00 MDividends paid: -$101,000,000.00Common dividends paid−$101.00 MAcquisition of treasury stock: -$104,000,000.00Common stock repurchases−$104.00 MDecrease in outstanding checks: -$47,000,000.00Outstanding checks, net−$47.00 MProceeds from Issuance or Sale of Equity: $3,000,000.00Equity issued+$3.00 MDebt repurchase premium and expenses: $0.00Net cash used in financing activities: -$251,000,000.00. Cash required to fund net payments.Financing cash−$251.00 Mfinancing reconciliation: $254,000,000.00Proceeds from disposition of assets, net: $35,000,000.00PP&E sales+$35.00 MCapitalized software: -$171,000,000.00Software spending−$171.00 MPurchase of property and equipment: -$153,000,000.00PP&E purchases−$153.00 MOther, net: $3,000,000.00Other investing, net+$3.00 MNet cash used in investing activities: -$286,000,000.00. Cash required to fund net payments.Investing cash−$286.00 Minvesting reconciliation: $324,000,000.00Cash sources and uses: $1,835,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,249,000,000.00Beginning cash$1.25 BEnding cash: Cash, cash equivalents, and restricted cash: $1,298,000,000.00Ending cash$1.30 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$433.00 MOperating cash − cash spent on PP&ECash flow / Net income2.53×Operating cash flow ÷ net incomeNet cash change+$49.00 MEnding cash − beginning cash
Chart details

Macy's, Inc. cash flow reconciliation, Feb 1, 2026 through Aug 1, 2026

Cash flows for Feb 1, 2026 through Aug 1, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jan 31, 2026. Ending cash: Aug 1, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jan 31, 2026
1,249,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
586,000,000 US dollars. Net cash provided.
Net income
232,000,000 US dollars
Stock-based compensation expense
32,000,000 US dollars
Amortization of financing costs and premium on acquired debt
3,000,000 US dollars
Impairment, restructuring and other (benefits) costs
negative 1,000,000 US dollars
(Decrease) increase in current income taxes
negative 17,000,000 US dollars
Benefit plans
3,000,000 US dollars
Depreciation and amortization
416,000,000 US dollars
Change in other assets and liabilities
negative 56,000,000 US dollars
Deferred income taxes
22,000,000 US dollars
(Increase) decrease in merchandise inventories
negative 37,000,000 US dollars
Decrease in receivables
382,000,000 US dollars
Increase in prepaid expenses and other current assets
negative 28,000,000 US dollars
Gains on sale of real estate
negative 23,000,000 US dollars
Increase (decrease) in merchandise accounts payable
47,000,000 US dollars
Decrease in accounts payable and accrued liabilities
negative 389,000,000 US dollars
Investing activities
negative 286,000,000 US dollars. Net cash used.
Proceeds from disposition of assets, net
35,000,000 US dollars
Capitalized software
negative 171,000,000 US dollars
Purchase of property and equipment
negative 153,000,000 US dollars
Other, net
3,000,000 US dollars
Financing activities
negative 251,000,000 US dollars. Net cash used.
Debt issued
0 US dollars
Debt issuance costs
0 US dollars
Debt repaid
negative 2,000,000 US dollars
Dividends paid
negative 101,000,000 US dollars
Acquisition of treasury stock
negative 104,000,000 US dollars
Decrease in outstanding checks
negative 47,000,000 US dollars
Proceeds from Issuance or Sale of Equity
3,000,000 US dollars
Debt repurchase premium and expenses
0 US dollars
Operating adjustment reconciliation
905,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
254,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
324,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Aug 1, 2026
1,298,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,835,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
49,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.53×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
586,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
153,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
433,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $354.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 586,000,000 US dollars minus 153,000,000 US dollars equals 433,000,000 US dollars.
Macy's, Inc. (M) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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