Segment Information

12 Months Ended

Jan. 28, 2017

Segment Information [Abstract]

Segment Information

Segment Information

The Company has three reportable segments: Victoria’s Secret, Bath & Body Works and Victoria's Secret and Bath & Body Works International.

The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and PINK brand names. Victoria’s Secret merchandise is sold through retail stores located in the U.S. and Canada and its website, www.VictoriasSecret.com.

The Bath & Body Works segment sells personal care, home fragrance products, soaps and sanitizers under the Bath & Body Works, White Barn, C.O. Bigelow and other brand names. Bath & Body Works merchandise is sold at retail stores located in the U.S. and Canada and through its website, www.BathandBodyWorks.com.

The Victoria's Secret and Bath & Body Works International segment includes the Victoria's Secret and Bath & Body Works company-owned and partner-operated stores located outside of the U.S. and Canada. These businesses include the following:

• Victoria's Secret Beauty and Accessories, comprised of company-owned stores in Greater China, as well as stores operated by partners under franchise, license and wholesale arrangements, which feature Victoria's Secret branded beauty and accessories products;

• Victoria's Secret International, comprised of company-owned stores in the U.K., as well as stores operated by partners under franchise and license and wholesale arrangements; and

• Bath & Body Works International stores operated by partners under franchise, license and wholesale arrangements.

Other consists of the following:

• Mast Global, a merchandise sourcing and production function serving the Company and its international partners;

• La Senza, comprised of company-owned stores in the U.S. and Canada, as well as stores operated by partners under franchise and license arrangements, which feature women's intimate apparel;

• Henri Bendel, operator of 29 specialty stores, which feature handbags, jewelry and other accessory products; and

• Corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.

The following table provides the Company’s segment information as of and for the fiscal years ended January 28, 2017, January 30, 2016 and January 31, 2015:

	Victoria’s Secret		Bath & Body Works		Victoria’s Secret and Bath & Body Works International		Other			Total
	(in millions)
January 28, 2017
Net Sales	$	7,781	$	3,852	$	423	$	518		$	12,574
Depreciation and Amortization	252		91		17		112			472
Operating Income (Loss)	1,173		907		40		(117		)	2,003
Total Assets (a)	3,285		1,632		593		2,660			8,170
Capital Expenditures	460		250		68		212			990
January 30, 2016
Net Sales	$	7,672	$	3,587	$	385	$	510		$	12,154
Depreciation and Amortization	218		70		16		111			415
Operating Income (Loss)	1,391		858		88		(145		)	2,192
Total Assets (a)	3,163		1,556		436		3,338			8,493
Capital Expenditures	411		166		33		117			727
January 31, 2015
Net Sales	$	7,207	$	3,350	$	336	$	561		$	11,454
Depreciation and Amortization	198		65		16		119			398
Operating Income (Loss)	1,271		737		78		(133		)	1,953
Total Assets (a)	2,950		1,365		369		2,792			7,476
Capital Expenditures	446		77		37		155			715

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(a) Assets are allocated to the operating segments based on decision making authority relevant to the applicable assets.

The Company’s international sales include sales from company-owned stores, royalty revenue from franchise and license arrangements, wholesale revenues and direct sales shipped internationally. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company's international sales across all segments totaled $1.408 billion in 2016, $1.314 billion in 2015 and $1.349 billion in 2014. The Company’s internationally based long-lived assets were $357 million as of January 28, 2017 and $319 million as of January 30, 2016.