Supplemental Guarantor Financial Information (Tables)

9 Months Ended

Oct. 29, 2016

Oct. 31, 2015

Condensed Consolidating Balance Sheet [Abstract]

Condensed Balance Sheet [Table Text Block]

L BRANDS, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

(in millions)

	January 30, 2016
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
ASSETS
Current Assets:
Cash and Cash Equivalents	$	—		$	2,190		$	358		$	—		$	2,548
Accounts Receivable, Net	1			202			58			—			261
Inventories	—			978			144			—			1,122
Other	—			115			110			—			225
Total Current Assets	1			3,485			670			—			4,156
Property and Equipment, Net	—			1,574			756			—			2,330
Goodwill	—			1,318			—			—			1,318
Trade Names and Other Intangible Assets, Net	—			411			—			—			411
Net Investments in and Advances to/from Consolidated Affiliates	5,368			13,649			1,242			(20,259		)	—
Deferred Income Taxes	—			11			19			—			30
Other Assets	141			40			679			(612		)	248
Total Assets	$	5,510		$	20,488		$	3,366		$	(20,871	)	$	8,493
LIABILITIES AND EQUITY (DEFICIT)
Current Liabilities:
Accounts Payable	$	—		$	333		$	335		$	—		$	668
Accrued Expenses and Other	100			519			358			—			977
Current Portion of Long-term Debt	—			—			6			—			6
Income Taxes	(3		)	237			(10		)	—			224
Total Current Liabilities	97			1,089			689			—			1,875
Deferred Income Taxes	(3		)	(86		)	346			—			257
Long-term Debt	5,714			597			1			(597		)	5,715
Other Long-term Liabilities	—			670			248			(14		)	904
Total Equity (Deficit)	(298		)	18,218			2,082			(20,260		)	(258		)
Total Liabilities and Equity (Deficit)	$	5,510		$	20,488		$	3,366		$	(20,871	)	$	8,493

L BRANDS, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

(in millions)

(Unaudited)

	October 29, 2016
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries		Eliminations			Consolidated L Brands, Inc.
ASSETS
Current Assets:
Cash and Cash Equivalents	$	—		$	370		$	284	$	—		$	654
Accounts Receivable, Net	1			260			64		—			325
Inventories	—			1,501			150		—			1,651
Other	—			158			98		—			256
Total Current Assets	1			2,289			596		—			2,886
Property and Equipment, Net	—			1,955			815		—			2,770
Goodwill	—			1,318			30		—			1,348
Trade Names and Other Intangible Assets, Net	—			411			—		—			411
Net Investments in and Advances to/from Consolidated Affiliates	4,475			15,461			1,815		(21,751		)	—
Deferred Income Taxes	1			11			18		—			30
Other Assets	133			35			661		(611		)	218
Total Assets	$	4,610		$	21,480		$	3,935	$	(22,362	)	$	7,663
LIABILITIES AND EQUITY (DEFICIT)
Current Liabilities:
Accounts Payable	$	—		$	580		$	382	$	—		$	962
Accrued Expenses and Other	111			513			285		—			909
Current Portion of Long-term Debt	—			—			23		—			23
Income Taxes	—			(2		)	115		—			113
Total Current Liabilities	111			1,091			805		—			2,007
Deferred Income Taxes	(3		)	(83		)	348		—			262
Long-term Debt	5,701			597			—		(597		)	5,701
Other Long-term Liabilities	1			747			147		(14		)	881
Total Equity (Deficit)	(1,200		)	19,128			2,635		(21,751		)	(1,188		)
Total Liabilities and Equity (Deficit)	$	4,610		$	21,480		$	3,935	$	(22,362	)	$	7,663

L BRANDS, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

(in millions)

(Unaudited)

	October 31, 2015
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries		Eliminations			Consolidated L Brands, Inc.
ASSETS
Current Assets:
Cash and Cash Equivalents	$	—		$	1,085		$	226	$	—		$	1,311
Accounts Receivable, Net	3			216			64		—			283
Inventories	—			1,465			155		—			1,620
Other	—			151			164		—			315
Total Current Assets	3			2,917			609		—			3,529
Property and Equipment, Net	—			1,594			756		—			2,350
Goodwill	—			1,318			—		—			1,318
Trade Names and Other Intangible Assets, Net	—			411			—		—			411
Net Investments in and Advances to/from Consolidated Affiliates	4,943			14,725			1,786		(21,454		)	—
Deferred Income Taxes	—			9			18		—			27
Other Assets	142			34			694		(612		)	258
Total Assets	$	5,088		$	21,008		$	3,863	$	(22,066	)	$	7,893
LIABILITIES AND EQUITY (DEFICIT)
Current Liabilities:
Accounts Payable	$	1		$	525		$	387	$	—		$	913
Accrued Expenses and Other	76			463			265		—			804
Current Portion of Long-term Debt	—			—			4		—			4
Income Taxes	—			—			7		—			7
Total Current Liabilities	77			988			663		—			1,728
Deferred Income Taxes	(3		)	(66		)	310		—			241
Long-term Debt	5,712			597			1		(597		)	5,713
Other Long-term Liabilities	—			646			235		(13		)	868
Total Equity (Deficit)	(698		)	18,843			2,654		(21,456		)	(657		)
Total Liabilities and Equity (Deficit)	$	5,088		$	21,008		$	3,863	$	(22,066	)	$	7,893

Condensed Income Statement [Table Text Block]

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

(in millions)

(Unaudited)

	Year-to-Date 2016
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Sales	$	—		$	7,674		$	2,512		$	(2,101	)	$	8,085
Costs of Goods Sold, Buying and Occupancy	—			(4,785		)	(2,058		)	1,939			(4,904		)
Gross Profit	—			2,889			454			(162		)	3,181
General, Administrative and Store Operating Expenses	(6		)	(1,959		)	(330		)	129			(2,166		)
Operating Income (Loss)	(6		)	930			124			(33		)	1,015
Interest Expense	(295		)	(40		)	(7		)	47			(295		)
Other Income (Loss)	(36		)	2			117			—			83
Income (Loss) Before Income Taxes	(337		)	892			234			14			803
Provision for Income Taxes	(13		)	216			74			—			277
Equity in Earnings (Loss), Net of Tax	850			332			268			(1,450		)	—
Net Income (Loss)	$	526		$	1,008		$	428		$	(1,436	)	$	526

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

(in millions)

(Unaudited)

	Third Quarter 2016
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Sales	$	—		$	2,478		$	846		$	(743	)	$	2,581
Costs of Goods Sold, Buying and Occupancy	—			(1,545		)	(678		)	667			(1,556		)
Gross Profit	—			933			168			(76		)	1,025
General, Administrative and Store Operating Expenses	(1		)	(685		)	(111		)	56			(741		)
Operating Income (Loss)	(1		)	248			57			(20		)	284
Interest Expense	(97		)	(20		)	(2		)	22			(97		)
Other Income	—			—			3			—			3
Income (Loss) Before Income Taxes	(98		)	228			58			2			190
Provision for Income Taxes	—			82			(14		)	—			68
Equity in Earnings (Loss), Net of Tax	220			47			4			(271		)	—
Net Income (Loss)	$	122		$	193		$	76		$	(269	)	$	122

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

(in millions)

(Unaudited)

	Year-to-Date 2015
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Sales	$	—		$	7,314		$	2,523		$	(2,078	)	$	7,759
Costs of Goods Sold, Buying and Occupancy	—			(4,487		)	(2,041		)	1,970			(4,558		)
Gross Profit	—			2,827			482			(108		)	3,201
General, Administrative and Store Operating Expenses	(10		)	(1,874		)	(302		)	99			(2,087		)
Operating Income (Loss)	(10		)	953			180			(9		)	1,114
Interest Expense	(237		)	(23		)	(7		)	30			(237		)
Other Income	—			4			71			—			75
Income (Loss) Before Income Taxes	(247		)	934			244			21			952
Provision for Income Taxes	—			230			105			—			335
Equity in Earnings (Loss), Net of Tax	864			386			217			(1,467		)	—
Net Income (Loss)	$	617		$	1,090		$	356		$	(1,446	)	$	617

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

(in millions)

(Unaudited)

	Third Quarter 2015
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Sales	$	—		$	2,357		$	893		$	(768	)	$	2,482
Costs of Goods Sold, Buying and Occupancy	—			(1,456		)	(720		)	725			(1,451		)
Gross Profit	—			901			173			(43		)	1,031
General, Administrative and Store Operating Expenses	(4		)	(629		)	(100		)	41			(692		)
Operating Income (Loss)	(4		)	272			73			(2		)	339
Interest Expense	(79		)	(11		)	(2		)	13			(79		)
Other Income	—			—			—			—			—
Income (Loss) Before Income Taxes	(83		)	261			71			11			260
Provision for Income Taxes	—			62			34			—			96
Equity in Earnings (Loss), Net of Tax	247			8			(37		)	(218		)	—
Net Income (Loss)	$	164		$	207		$	—		$	(207	)	$	164

Condensed Statement of Comprehensive Income [Table Text Block]

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

(in millions)

(Unaudited)

	Year-to-Date 2016
	L Brands, Inc.		Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Income (Loss)	$	526	$	1,008	$	428		$	(1,436	)	$	526
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	—		—		(25		)	—			(25		)
Unrealized Loss on Cash Flow Hedges	—		—		(2		)	—			(2		)
Reclassification of Cash Flow Hedges to Earnings	—		—		5			—			5
Unrealized Loss on Marketable Securities	—		—		(3		)	—			(3		)
Reclassification of Gain on Marketable Securities to Earnings	—		—		(3		)	—			(3		)
Total Other Comprehensive Income (Loss), Net of Tax	—		—		(28		)	—			(28		)
Total Comprehensive Income (Loss)	$	526	$	1,008	$	400		$	(1,436	)	$	498

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

(in millions)

(Unaudited)

	Third Quarter 2016
	L Brands, Inc.		Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Income (Loss)	$	122	$	193	$	76		$	(269	)	$	122
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	—		—		(15		)	—			(15		)
Unrealized Gain on Cash Flow Hedges	—		—		9			—			9
Reclassification of Cash Flow Hedges to Earnings	—		—		(4		)	—			(4		)
Total Other Comprehensive Income (Loss), Net of Tax	—		—		(10		)	—			(10		)
Total Comprehensive Income (Loss)	$	122	$	193	$	66		$	(269	)	$	112

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

(in millions)

(Unaudited)

	Year-to-Date 2015
	L Brands, Inc.		Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Income (Loss)	$	617	$	1,090	$	356		$	(1,446	)	$	617
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	—		—		5			—			5
Unrealized Gain on Cash Flow Hedges	—		—		6			—			6
Reclassification of Cash Flow Hedges to Earnings	—		—		(7		)	—			(7		)
Unrealized Gain on Marketable Securities	—		—		2			—			2
Total Other Comprehensive Income (Loss), Net of Tax	—		—		6			—			6
Total Comprehensive Income (Loss)	$	617	$	1,090	$	362		$	(1,446	)	$	623

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

(in millions)

(Unaudited)

	Third Quarter 2015
	L Brands, Inc.		Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Income (Loss)	$	164	$	207	$	—		$	(207	)	$	164
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	—		—		(7		)	—			(7		)
Unrealized Gain on Cash Flow Hedges	—		—		2			—			2
Reclassification of Cash Flow Hedges to Earnings	—		—		3			—			3
Unrealized Gain on Marketable Securities	—		—		2			—			2
Total Other Comprehensive Income (Loss), Net of Tax	—		—		—			—			—
Total Comprehensive Income (Loss)	$	164	$	207	$	—		$	(207	)	$	164

Condensed Cash Flow Statement [Table Text Block]

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

(in millions)

(Unaudited)

	Year-to-Date 2016
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities	$	(342	)	$	402		$	256		$	—		$	316
Investing Activities:
Capital Expenditures	—			(648		)	(177		)	—			(825		)
Return of Capital from Easton Town Center, LLC	—			—			108			—			108
Acquisition, Net of Cash Acquired of $1	—			—			(33		)	—			(33		)
Proceeds from Sale of Marketable Securities	—			—			10			—			10
Net Investments in Consolidated Affiliates	—			—			(27		)	27			—
Other Investing Activities	—			1			18			—			19
Net Cash Provided by (Used for) Investing Activities	—			(647		)	(101		)	27			(721		)
Financing Activities:
Proceeds from the Issuance of Long-term Debt, Net of Issuance Costs	692			—			—			—			692
Payment of Long-term Debt	(742		)	—			—			—			(742		)
Borrowings from Revolving Facilities	—			—			20			—			20
Repayments on Revolving Facilities	—			—			(4		)	—			(4		)
Dividends Paid	(1,096		)	—			—			—			(1,096		)
Repurchases of Common Stock	(410		)	—			—			—			(410		)
Excess Tax Benefits from Share-based Compensation	—			35			4			—			39
Net Financing Activities and Advances to/from Consolidated Affiliates	1,881			(1,608		)	(246		)	(27		)	—
Proceeds from Exercise of Stock Options	17			—			—			—			17
Financing Costs and Other	—			(2		)	—			—			(2		)
Net Cash Provided by (Used for) Financing Activities	342			(1,575		)	(226		)	(27		)	(1,486		)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(3		)	—			(3		)
Net Decrease in Cash and Cash Equivalents	—			(1,820		)	(74		)	—			(1,894		)
Cash and Cash Equivalents, Beginning of Period	—			2,190			358			—			2,548
Cash and Cash Equivalents, End of Period	$	—		$	370		$	284		$	—		$	654

L BRANDS, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

(in millions)

(Unaudited)

	Year-to-Date 2015
	L Brands, Inc.			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations		Consolidated L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities	$	(254	)	$	377		$	139		$	—	$	262
Investing Activities:
Capital Expenditures	—			(440		)	(163		)	—		(603		)
Proceeds from the Sale of Assets	—			—			196			—		196
Proceeds from Divestiture of Third-party Apparel Sourcing Business	—			1			84			—		85
Proceeds from Sale of Marketable Securities	—			50			—			—		50
Purchase of Marketable Securities	—			(50		)	(10		)	—		(60		)
Net Cash Provided by (Used for) Investing Activities	—			(439		)	107			—		(332		)
Financing Activities:
Proceeds from Issuance of Long-term Debt, Net of Issuance Costs	988			—			—			—		988
Borrowings from Revolving Facilities	—			—			5			—		5
Dividends Paid	(1,026		)	—			—			—		(1,026		)
Repurchases of Common Stock	(363		)	—			—			—		(363		)
Excess Tax Benefits from Share-based Compensation	—			57			8			—		65
Net Financing Activities and Advances to/from Consolidated Affiliates	624			(370		)	(254		)	—		—
Proceeds from Exercise of Stock Options	31			—			—			—		31
Financing Costs and Other	—			(2		)	—			—		(2		)
Net Cash Provided by (Used for) Financing Activities	254			(315		)	(241		)	—		(302		)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	—			—			2			—		2
Net Increase (Decrease) in Cash and Cash Equivalents	—			(377		)	7			—		(370		)
Cash and Cash Equivalents, Beginning of Period	—			1,462			219			—		1,681
Cash and Cash Equivalents, End of Period	$	—		$	1,085		$	226		$	—	$	1,311