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Segment Information
 12 Months Ended
Feb. 01, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's segments are based on the financial information the Company's Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer, uses to evaluate performance and allocate resources. The Company has one reportable segment. The CODM assesses performance for the Company's single reportable segment and decides how to allocate resources based on Net Income Attributable to Victoria's Secret & Co. as reported on the Consolidated Statements of Income.
The following table provides the Company's segment information for 2024, 2023 and 2022:
202420232022
(in millions)
Net Sales$6,230 $6,182 $6,344 
Costs of Goods Sold(2,591)(2,564)(2,701)
Buying and Occupancy Expenses(1,355)(1,376)(1,385)
General, Administrative and Store Operating Expenses (a)(1,545)(1,542)(1,436)
Advertising and Marketing Expenses(429)(454)(344)
Operating Income$310 $246 $478 
Interest Expense(86)(99)(60)
Provision for Income Taxes(52)(31)(79)
Other Items (b)(7)(7)9 
Net Income Attributable to Victoria's Secret & Co.$165 $109 $348 
_______________
(a)Excludes Advertising and Marketing Expenses.
(b)Other Items includes net income (loss) attributable to noncontrolling interest, interest income and other miscellaneous expense items.
The Company derives revenue primarily from its sale of women's intimate and other apparel and beauty products. For additional information on other sources of revenue, see Note 3, “Revenue Recognition.”
The following table provides Net Sales by geographic location for 2024, 2023 and 2022:
202420232022
(in millions)
U.S. (a)$5,252 $5,272 $5,514 
Outside of the U.S.978 910 830 
Total Net Sales$6,230 $6,182 $6,344 
_______________
(a)Includes U.S. territories.
The following table provides long-lived assets, excluding deferred tax assets, equity method investments, goodwill, trade names, and other intangible assets, by geographic location as of February 1, 2025 and February 3, 2024:
February 1,
2025		February 3,
2024
(in millions)
U.S. (a)$2,136 $2,072 
Outside of the U.S.143 148 
Total Long-lived Assets$2,279 $2,220 
_______________
(a)Includes U.S. territories.
As the Company is one reportable segment, for additional information on assets, capital expenditures, depreciation and amortization of long-lived assets and other significant non-cash transactions, see Item 8. Financial Statements and Supplementary Data.