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Supplemental Guarantor Financial Information (Tables)
9 Months Ended
Oct. 28, 2017
Condensed Consolidating Balance Sheet [Abstract]  
Condensed Balance Sheet [Table Text Block]
L BRANDS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(in millions)
(Unaudited)
 
 
October 28, 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
—

 
$
377

 
$
358

 
$
—

 
$
735

Accounts Receivable, Net
1

 
181

 
103

 
—

 
285

Inventories
—

 
1,519

 
196

 
—

 
1,715

Other
(1
)
 
74

 
122

 
—

 
195

Total Current Assets
—

 
2,151

 
779

 
—

 
2,930

Property and Equipment, Net
—

 
2,056

 
864

 
—

 
2,920

Goodwill
—

 
1,318

 
30

 
—

 
1,348

Trade Names and Other Intangible Assets, Net
—

 
411

 
—

 
—

 
411

Net Investments in and Advances to/from Consolidated Affiliates
4,552

 
18,111

 
1,687

 
(24,350
)
 
—

Deferred Income Taxes
—

 
10

 
13

 
—

 
23

Other Assets
130

 
26

 
640

 
(612
)
 
184

Total Assets
$
4,682

 
$
24,083

 
$
4,013

 
$
(24,962
)
 
$
7,816

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts Payable
$
2

 
$
567

 
$
468

 
$
—

 
$
1,037

Accrued Expenses and Other
108

 
485

 
303

 
—

 
896

Current Portion of Long-term Debt
—

 
—

 
80

 
—

 
80

Income Taxes
—

 
—

 
6

 
—

 
6

Total Current Liabilities
110

 
1,052

 
857

 
—

 
2,019

Deferred Income Taxes
(2
)
 
(82
)
 
451

 
—

 
367

Long-term Debt
5,705

 
597

 
—

 
(597
)
 
5,705

Other Long-term Liabilities
3

 
766

 
90

 
(15
)
 
844

Total Equity (Deficit)
(1,134
)
 
21,750

 
2,615

 
(24,350
)
 
(1,119
)
Total Liabilities and Equity (Deficit)
$
4,682

 
$
24,083

 
$
4,013

 
$
(24,962
)
 
$
7,816


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)

 
January 28, 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
—

 
$
1,562

 
$
372

 
$
—

 
$
1,934

Accounts Receivable, Net
—

 
228

 
66

 
—

 
294

Inventories
—

 
976

 
120

 
—

 
1,096

Other
—

 
53

 
88

 
—

 
141

Total Current Assets
—

 
2,819

 
646

 
—

 
3,465

Property and Equipment, Net
—

 
1,897

 
844

 
—

 
2,741

Goodwill
—

 
1,318

 
30

 
—

 
1,348

Trade Names and Other Intangible Assets, Net
—

 
411

 
—

 
—

 
411

Net Investments in and Advances to/from Consolidated Affiliates
4,923

 
15,824

 
1,350

 
(22,097
)
 
—

Deferred Income Taxes
—

 
10

 
9

 
—

 
19

Other Assets
130

 
28

 
639

 
(611
)
 
186

Total Assets
$
5,053

 
$
22,307

 
$
3,518

 
$
(22,708
)
 
$
8,170

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts Payable
$
3

 
$
326

 
$
354

 
$
—

 
$
683

Accrued Expenses and Other
100

 
526

 
371

 
—

 
997

Current Portion of Long-term Debt
—

 
—

 
36

 
—

 
36

Income Taxes
(11
)
 
221

 
88

 
—

 
298

Total Current Liabilities
92

 
1,073

 
849

 
—

 
2,014

Deferred Income Taxes
(3
)
 
(93
)
 
448

 
—

 
352

Long-term Debt
5,700

 
597

 
—

 
(597
)
 
5,700

Other Long-term Liabilities
3

 
761

 
81

 
(14
)
 
831

Total Equity (Deficit)
(739
)
 
19,969

 
2,140

 
(22,097
)
 
(727
)
Total Liabilities and Equity (Deficit)
$
5,053

 
$
22,307

 
$
3,518

 
$
(22,708
)
 
$
8,170

Condensed Income Statement [Table Text Block]
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 (Loss)
—

 
—

 
3

 
—

 
3

Income (Loss) Before Income Taxes
(98
)
 
228

 
58

 
2

 
190

Provision (Benefit) 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

 
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 (Benefit) 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

 
Year-to-Date 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Sales
$
—

 
$
7,398

 
$
2,472

 
$
(2,061
)
 
$
7,809

Costs of Goods Sold, Buying and Occupancy
—

 
(4,779
)
 
(1,930
)
 
1,819

 
(4,890
)
Gross Profit
—

 
2,619

 
542

 
(242
)
 
2,919

General, Administrative and Store Operating Expenses
(8
)
 
(2,059
)
 
(290
)
 
180

 
(2,177
)
Operating Income (Loss)
(8
)
 
560

 
252

 
(62
)
 
742

Interest Expense
(298
)
 
(61
)
 
(8
)
 
67

 
(300
)
Other Income (Loss)
—

 
6

 
22

 
—

 
28

Income (Loss) Before Income Taxes
(306
)
 
505

 
266

 
5

 
470

Provision (Benefit) for Income Taxes
1

 
92

 
58

 
—

 
151

Equity in Earnings (Loss), Net of Tax
626

 
642

 
447

 
(1,715
)
 
—

Net Income (Loss)
$
319

 
$
1,055

 
$
655

 
$
(1,710
)
 
$
319

L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF INCOME
(in millions)
(Unaudited)
 
 
Third Quarter 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Sales
$
—

 
$
2,508

 
$
947

 
$
(837
)
 
$
2,618

Costs of Goods Sold, Buying and Occupancy
—

 
(1,639
)
 
(717
)
 
727

 
(1,629
)
Gross Profit
—

 
869

 
230

 
(110
)
 
989

General, Administrative and Store Operating Expenses
(2
)
 
(731
)
 
(104
)
 
80

 
(757
)
Operating Income (Loss)
(2
)
 
138

 
126

 
(30
)
 
232

Interest Expense
(98
)
 
(28
)
 
(3
)
 
30

 
(99
)
Other Income
—

 
2

 
—

 
—

 
2

Income (Loss) Before Income Taxes
(100
)
 
112

 
123

 
—

 
135

Provision for Income Taxes
1

 
27

 
21

 
—

 
49

Equity in Earnings (Loss), Net of Tax
187

 
166

 
67

 
(420
)
 
—

Net Income (Loss)
$
86

 
$
251

 
$
169

 
$
(420
)
 
$
86

Condensed Statement of Comprehensive Income [Table Text Block]
 
Year-to-Date 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Income (Loss)
$
319

 
$
1,055

 
$
655

 
$
(1,710
)
 
$
319

Other Comprehensive Income (Loss), Net of Tax:
 
 
 
 
 
 
 
 
 
Foreign Currency Translation
—

 
—

 
8

 
—

 
8

Unrealized Gain (Loss) on Cash Flow Hedges
—

 
—

 
(7
)
 
—

 
(7
)
Reclassification of Cash Flow Hedges to Earnings
—

 
—

 
1

 
—

 
1

Unrealized Gain (Loss) on Marketable Securities
—

 
—

 
1

 
—

 
1

Total Other Comprehensive Income (Loss), Net of Tax
—

 
—

 
3

 
—


3

Total Comprehensive Income (Loss)
$
319

 
$
1,055

 
$
658

 
$
(1,710
)
 
$
322

L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
(in millions)
(Unaudited)
 
 
Third Quarter 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Income (Loss)
$
86

 
$
251

 
$
169

 
$
(420
)
 
$
86

Other Comprehensive Income (Loss), Net of Tax:
 
 
 
 
 
 
 
 
 
Foreign Currency Translation
—

 
—

 
(2
)
 
—

 
(2
)
Unrealized Gain (Loss) on Cash Flow Hedges
—

 
—

 
10

 
—

 
10

Reclassification of Cash Flow Hedges to Earnings
—

 
—

 
(4
)
 
—

 
(4
)
Total Other Comprehensive Income (Loss), Net of Tax
—

 
—

 
4

 
—

 
4

Total Comprehensive Income (Loss)
$
86

 
$
251

 
$
173

 
$
(420
)
 
$
90

 
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 Gain (Loss) on Cash Flow Hedges
—

 
—

 
(2
)
 
—

 
(2
)
Reclassification of Cash Flow Hedges to Earnings
—

 
—

 
5

 
—

 
5

Unrealized Gain (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 (Loss) 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

Condensed Cash Flow Statement [Table Text Block]
BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(in millions)
(Unaudited)
 
 
Year-to-Date 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities
$
(289
)
 
$
230

 
$
197

 
$
—

 
$
138

Investing Activities:
 
 
 
 
 
 
 
 
 
Capital Expenditures
—

 
(461
)
 
(138
)
 
—

 
(599
)
Return of Capital from Easton Investments
—

 
—

 
27

 
—

 
27

Net Investments in Consolidated Affiliates
—

 
—

 
(12
)
 
12

 
—

Other Investing Activities
—

 
—

 
(9
)
 
—

 
(9
)
Net Cash Provided by (Used for) Investing Activities
—

 
(461
)
 
(132
)
 
12

 
(581
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings from Foreign Facilities
—

 
—

 
67

 
—

 
67

Repayments on Foreign Facilities
—

 
—

 
(23
)
 
—

 
(23
)
Dividends Paid
(516
)
 
—

 
—

 
—

 
(516
)
Repurchases of Common Stock
(283
)
 
—

 
—

 
—

 
(283
)
Tax Payments related to Share-based Awards
(31
)
 
—

 
—

 
—

 
(31
)
Proceeds from Exercise of Stock Options
37

 
—

 
—

 
—

 
37

Financing Costs
(5
)
 
—

 
—

 
—

 
(5
)
Other Financing Activities
—

 
(4
)
 
—

 
—

 
(4
)
Net Financing Activities and Advances to/from Consolidated Affiliates
1,087

 
(950
)
 
(125
)
 
(12
)
 
—

Net Cash Provided by (Used for) Financing Activities
289

 
(954
)
 
(81
)
 
(12
)
 
(758
)
Effects of Exchange Rate Changes on Cash and Cash Equivalents
—

 
—

 
2

 
—

 
2

Net Decrease in Cash and Cash Equivalents
—

 
(1,185
)
 
(14
)
 
—

 
(1,199
)
Cash and Cash Equivalents, Beginning of Period
—

 
1,562

 
372

 
—

 
1,934

Cash and Cash Equivalents, End of Period
$
—

 
$
377

 
$
358

 
$
—

 
$
735


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
$
(286
)
 
$
437

 
$
260

 
$
—

 
$
411

Investing Activities:
 
 
 
 
 
 
 
 
 
Capital Expenditures
—

 
(648
)
 
(177
)
 
—

 
(825
)
Return of Capital from Easton Investments
—

 
—

 
116

 
—

 
116

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

 
10

 
—

 
11

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 Foreign Facilities
—

 
—

 
20

 
—

 
20

Repayments on Foreign Facilities
—

 
—

 
(4
)
 
—

 
(4
)
Dividends Paid
(1,096
)
 
—

 
—

 
—

 
(1,096
)
Repurchases of Common Stock
(410
)
 
—

 
—

 
—

 
(410
)
Tax Payments related to Share-based Awards
(56
)
 
—

 
—

 
—

 
(56
)
Proceeds from Exercise of Stock Options
17

 
—

 
—

 
—

 
17

Other Financing Activities
—

 
(2
)
 
—

 
—

 
(2
)
Net Financing Activities and Advances to/from Consolidated Affiliates
1,881

 
(1,608
)
 
(246
)
 
(27
)
 
—

Net Cash Provided by (Used for) Financing Activities
286

 
(1,610
)
 
(230
)
 
(27
)
 
(1,581
)
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