Adore Me Acquisition (Tables)

12 Months Ended

Feb. 03, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, Preliminary Purchase Price Allocation

The following is the final purchase price allocation of assets acquired and liabilities assumed related to the Adore Me acquisition:

	Initial Allocation		Measurement Period Adjustments		Final Allocation
	(in millions)
Accounts Receivable	$	1	$	(1)	$	—
Inventories	105		—		105
Other Current Assets	7		1		8
Property and Equipment, Net	12		—		12
Operating Lease Assets	5		—		5
Goodwill	365		2		367
Trade Name	43		—		43
Other Intangible Assets	137		—		137
Other Assets	1		—		1
Accounts Payable	17		—		17
Accrued Expenses and Other	88		2		90
Current Operating Lease Liabilities	2		—		2
Deferred Income Tax Liabilities	21		(3)		18
Long-term Operating Lease Liabilities	3		—		3
Other Long-term Liabilities	8		4		12
Net Assets Acquired and Liabilities Assumed	$	537	$	(1)	$	536

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table represents the definite-lived intangible assets acquired, the fair values and respective useful lives:

	Useful Life	Fair Value
		(in millions)
Customer Relationships	7 years	$	81
Developed Technology	6 years	56
Trade Name	10 years	43
Total Definite-Lived Intangible Assets		$	180

Business Acquisition, Pro Forma Information

The following pro forma results include adjustments to reflect acquisition-related costs, amortization of intangibles associated with the acquisition and the effects of adjustments made to the carrying value of inventories.

	2022		2021
	(in millions)
Net Sales	$	6,595	$	6,996
Net Income Attributable to Victoria's Secret & Co.	330		544