Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name Macy's, Inc.
CIK 0000794367
Accession number 0000794367-14-000071
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/794367/000079436714000071/m-20140201.xml
Fiscal year end --02-01
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2014-02-01
Current year-to-date income statement start date 2013-02-03
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows:
 
 
February 1,
2014
 
February 2,
2013
 
(millions)
Deferred tax assets
 
 
 
Post employment and postretirement benefits
$
392

 
$
476

Accrued liabilities accounted for on a cash basis for tax purposes
289

 
237

Long-term debt
90

 
96

Unrecognized state tax benefits and accrued interest
84

 
71

State operating loss and credit carryforwards
79

 
60

Other
160

 
177

Valuation allowance
(23
)
 
(39
)
Total deferred tax assets
1,071

 
1,078

Deferred tax liabilities
 
 
 
Excess of book basis over tax basis of property and equipment
(1,569
)
 
(1,665
)
Merchandise inventories
(587
)
 
(577
)
Intangible assets
(263
)
 
(230
)
Post employment benefits
(28
)
 
—

Other
(297
)
 
(251
)
Total deferred tax liabilities
(2,744
)
 
(2,723
)
Net deferred tax liability
$
(1,673
)
 
$
(1,645
)

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 0
Valuation allowance -23,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 1,071,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -2,744,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -1,673,000,000
CHECK 0

*

(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current -400,000,000 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -1,273,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -1,673,000,000
CHECK 0

*

(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 1,071,000,000
Deferred tax liabilities, net -2,744,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -1,673,000,000
CHECK 0

*

*

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