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Supplemental Guarantor Financial Information | 3 Months Ended
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May 04, 2013
Supplemental Guarantor Financial Information [Abstract] |
Schedule Of Supplemental Guarantor Financial Information [Text Block] | Supplemental Guarantor Financial Information The Company’s 2019 Notes, 2020 Notes, 2021 Notes and 2022 Notes are jointly and severally guaranteed on a full and unconditional basis by certain of the Company’s 100% owned subsidiaries. The Company is a holding company and its most significant assets are the stock of its subsidiaries. The Guarantors represent: (a) substantially all of the sales of the Company’s domestic subsidiaries, (b) more than 90% of the assets owned by the Company’s domestic subsidiaries, other than real property, certain other assets and intercompany investments and balances and (c) more than 95% of the accounts receivable and inventory directly owned by the Company’s domestic subsidiaries. The following supplemental financial information sets forth for the Company and its guarantor and non-guarantor subsidiaries: the Condensed Consolidating Balance Sheets as of May 4, 2013, February 2, 2013 and April 28, 2012; and the Condensed Consolidating Statements of Income, Comprehensive Income and Cash Flows for the periods ended May 4, 2013 and April 28, 2012. L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (in millions) (Unaudited)
| May 4, 2013
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | 166 |  |  | $ | 216 |  |  | $ | — |  |  | $ | 382 |
Accounts Receivable, Net | — |  |  | 120 |  |  | 55 |  |  | — |  |  | 175 |
Inventories | — |  |  | 961 |  |  | 154 |  |  | — |  |  | 1,115 |
Deferred Income Taxes | — |  |  | 38 |  |  | (10 | ) |  | — |  |  | 28 |
Other | 2 |  |  | 127 |  |  | 75 |  |  | — |  |  | 204 |
Total Current Assets | 2 |  |  | 1,412 |  |  | 490 |  |  | — |  |  | 1,904 |
Property and Equipment, Net | — |  |  | 1,033 |  |  | 817 |  |  | — |  |  | 1,850 |
Goodwill | — |  |  | 1,318 |  |  | — |  |  | — |  |  | 1,318 |
Trade Names and Other Intangible Assets, Net | — |  |  | 411 |  |  | 1 |  |  | — |  |  | 412 |
Net Investments in and Advances to/from Consolidated Affiliates | 3,352 |  |  | 13,765 |  |  | 323 |  |  | (17,440 | ) |  | — |
Other Assets | 186 |  |  | 8 |  |  | 710 |  |  | (612 | ) |  | 292 |
Total Assets | $ | 3,540 |  |  | $ | 17,947 |  |  | $ | 2,341 |  |  | $ | (18,052 | ) |  | $ | 5,776 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable | $ | — |  |  | $ | 296 |  |  | $ | 265 |  |  | $ | — |  |  | $ | 561 |
Accrued Expenses and Other | 62 |  |  | 342 |  |  | 249 |  |  | — |  |  | 653 |
Income Taxes | — |  |  | 32 |  |  | 24 |  |  | — |  |  | 56 |
Total Current Liabilities | 62 |  |  | 670 |  |  | 538 |  |  | — |  |  | 1,270 |
Deferred Income Taxes | (4 | ) |  | (4 | ) |  | 214 |  |  | — |  |  | 206 |
Long-term Debt | 4,475 |  |  | 597 |  |  | — |  |  | (597 | ) |  | 4,475 |
Other Long-term Liabilities | 4 |  |  | 630 |  |  | 200 |  |  | (15 | ) |  | 819 |
Total Equity (Deficit) | (997 | ) |  | 16,054 |  |  | 1,389 |  |  | (17,440 | ) |  | (994 | )
Total Liabilities and Equity (Deficit) | $ | 3,540 |  |  | $ | 17,947 |  |  | $ | 2,341 |  |  | $ | (18,052 | ) |  | $ | 5,776 |
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (in millions)
| February 2, 2013
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | 417 |  |  | $ | 356 |  |  | $ | — |  |  | $ | 773 |
Accounts Receivable, Net | — |  |  | 140 |  |  | 63 |  |  | — |  |  | 203 |
Inventories |  |  |  | 847 |  |  | 157 |  |  | — |  |  | 1,004 |
Deferred Income Taxes | — |  |  | 39 |  |  | (10 | ) |  | — |  |  | 29 |
Other | 2 |  |  | 117 |  |  | 77 |  |  | — |  |  | 196 |
Total Current Assets | 2 |  |  | 1,560 |  |  | 643 |  |  | — |  |  | 2,205 |
Property and Equipment, Net | — |  |  | 1,001 |  |  | 802 |  |  | — |  |  | 1,803 |
Goodwill | — |  |  | 1,318 |  |  | — |  |  | — |  |  | 1,318 |
Trade Names and Other Intangible Assets, Net | — |  |  | 411 |  |  | 1 |  |  | — |  |  | 412 |
Net Investments in and Advances to/from Consolidated Affiliates | 3,348 |  |  | 13,968 |  |  | 624 |  |  | (17,940 | ) |  | — |
Other Assets | 188 |  |  | 8 |  |  | 696 |  |  | (611 | ) |  | 281 |
Total Assets | $ | 3,538 |  |  | $ | 18,266 |  |  | $ | 2,766 |  |  | $ | (18,551 | ) |  | $ | 6,019 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable | $ | — |  |  | $ | 291 |  |  | $ | 250 |  |  | $ | — |  |  | $ | 541 |
Accrued Expenses and Other | 78 |  |  | 425 |  |  | 304 |  |  | — |  |  | 807 |
Income Taxes | 1 |  |  | 134 |  |  | 55 |  |  | — |  |  | 190 |
Total Current Liabilities | 79 |  |  | 850 |  |  | 609 |  |  | — |  |  | 1,538 |
Deferred Income Taxes | (4 | ) |  | (9 | ) |  | 213 |  |  | — |  |  | 200 |
Long-term Debt | 4,477 |  |  | 597 |  |  | — |  |  | (597 | ) |  | 4,477 |
Other Long-term Liabilities | 4 |  |  | 625 |  |  | 204 |  |  | (15 | ) |  | 818 |
Total Equity (Deficit) | (1,018 | ) |  | 16,203 |  |  | 1,740 |  |  | (17,939 | ) |  | (1,014 | )
Total Liabilities and Equity (Deficit) | $ | 3,538 |  |  | $ | 18,266 |  |  | $ | 2,766 |  |  | $ | (18,551 | ) |  | $ | 6,019 |
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (in millions) (Unaudited)
| April 28, 2012
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | 736 |  |  | $ | 550 |  |  | $ | — |  |  | $ | 1,286 |
Accounts Receivable, Net | 1 |  |  | 95 |  |  | 62 |  |  | — |  |  | 158 |
Inventories | — |  |  | 911 |  |  | 189 |  |  | — |  |  | 1,100 |
Deferred Income Taxes | — |  |  | 33 |  |  | 17 |  |  | — |  |  | 50 |
Other | — |  |  | 137 |  |  | 85 |  |  | — |  |  | 222 |
Total Current Assets | 1 |  |  | 1,912 |  |  | 903 |  |  | — |  |  | 2,816 |
Property and Equipment, Net | — |  |  | 917 |  |  | 772 |  |  | — |  |  | 1,689 |
Goodwill | — |  |  | 1,318 |  |  | 12 |  |  | — |  |  | 1,330 |
Trade Names and Other Intangible Assets, Net | — |  |  | 410 |  |  | 85 |  |  | — |  |  | 495 |
Net Investments in and Advances to/from Consolidated Affiliates | 4,278 |  |  | 13,641 |  |  | 544 |  |  | (18,463 | ) |  | — |
Other Assets | 211 |  |  | 43 |  |  | 680 |  |  | (648 | ) |  | 286 |
Total Assets | $ | 4,490 |  |  | $ | 18,241 |  |  | $ | 2,996 |  |  | $ | (19,111 | ) |  | $ | 6,616 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable | $ | 9 |  |  | $ | 307 |  |  | $ | 220 |  |  | $ | — |  |  | $ | 536 |
Accrued Expenses and Other | 80 |  |  | 343 |  |  | 268 |  |  | — |  |  | 691 |
Current Portion of Long-term Debt | 57 |  |  | — |  |  | — |  |  | — |  |  | 57 |
Income Taxes | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Total Current Liabilities | 146 |  |  | 650 |  |  | 494 |  |  | — |  |  | 1,290 |
Deferred Income Taxes | (6 | ) |  | 16 |  |  | 181 |  |  | — |  |  | 191 |
Long-term Debt | 4,480 |  |  | 597 |  |  | 36 |  |  | (633 | ) |  | 4,480 |
Other Long-term Liabilities | 6 |  |  | 582 |  |  | 212 |  |  | (14 | ) |  | 786 |
Total Equity (Deficit) | (136 | ) |  | 16,396 |  |  | 2,073 |  |  | (18,464 | ) |  | (131 | )
Total Liabilities and Equity (Deficit) | $ | 4,490 |  |  | $ | 18,241 |  |  | $ | 2,996 |  |  | $ | (19,111 | ) |  | $ | 6,616 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF INCOME (in millions) (Unaudited)
| First Quarter 2013
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Sales | $ | — |  |  | $ | 2,073 |  |  | $ | 748 |  |  | $ | (553 | ) |  | $ | 2,268 |
Costs of Goods Sold, Buying and Occupancy | — |  |  | (1,246 | ) |  | (610 | ) |  | 529 |  |  | (1,327 | )
Gross Profit | — |  |  | 827 |  |  | 138 |  |  | (24 | ) |  | 941 |
General, Administrative and Store Operating Expenses | (2 | ) |  | (552 | ) |  | (100 | ) |  | 24 |  |  | (630 | )
Operating Income (Loss) | (2 | ) |  | 275 |  |  | 38 |  |  | — |  |  | 311 |
Interest Expense | (79 | ) |  | (6 | ) |  | (3 | ) |  | 9 |  |  | (79 | )
Other Income (Loss) | — |  |  | 2 |  |  | 3 |  |  | (2 | ) |  | 3 |
Income (Loss) Before Income Taxes | (81 | ) |  | 271 |  |  | 38 |  |  | 7 |  |  | 235 |
Provision for Income Taxes | — |  |  | 64 |  |  | 28 |  |  | — |  |  | 92 |
Equity in Earnings (Loss), Net of Tax | 224 |  |  | 51 |  |  | 37 |  |  | (312 | ) |  | — |
Net Income (Loss) | $ | 143 |  |  | $ | 258 |  |  | $ | 47 |  |  | $ | (305 | ) |  | $ | 143 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited)
| First Quarter 2013
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Income (Loss) | $ | 143 |  |  | $ | 258 |  |  | $ | 47 |  |  | $ | (305 | ) |  | $ | 143 |
Other Comprehensive Income (Loss), Net of Tax: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | — |  |  | — |  |  | (6 | ) |  | — |  |  | (6 | )
Foreign Currency Translation | — |  |  | — |  |  | 4 |  |  | — |  |  | 4 |
Unrealized Gain (Loss) on Cash Flow Hedges | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Total Other Comprehensive Income (Loss), Net of Tax | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Total Comprehensive Income | $ | 143 |  |  | $ | 258 |  |  | $ | 46 |  |  | $ | (305 | ) |  | $ | 142 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF INCOME (in millions) (Unaudited)
| First Quarter 2012
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Sales | $ | — |  |  | $ | 1,994 |  |  | $ | 629 |  |  | $ | (469 | ) |  | $ | 2,154 |
Costs of Goods Sold, Buying and Occupancy | — |  |  | (1,169 | ) |  | (526 | ) |  | 443 |  |  | (1,252 | )
Gross Profit | — |  |  | 825 |  |  | 103 |  |  | (26 | ) |  | 902 |
General, Administrative and Store Operating Expenses | (2 | ) |  | (544 | ) |  | (87 | ) |  | 24 |  |  | (609 | )
Operating Income (Loss) | (2 | ) |  | 281 |  |  | 16 |  |  | (2 | ) |  | 293 |
Interest Expense | (78 | ) |  | (7 | ) |  | (2 | ) |  | 9 |  |  | (78 | )
Other Income (Loss) | 1 |  |  | 2 |  |  | (2 | ) |  | (3 | ) |  | (2 | )
Income (Loss) Before Income Taxes | (79 | ) |  | 276 |  |  | 12 |  |  | 4 |  |  | 213 |
Provision for Income Taxes | — |  |  | 66 |  |  | 22 |  |  | — |  |  | 88 |
Equity in Earnings (Loss), Net of Tax | 204 |  |  | (70 | ) |  | 91 |  |  | (225 | ) |  | — |
Net Income (Loss) | $ | 125 |  |  | $ | 140 |  |  | $ | 81 |  |  | $ | (221 | ) |  | $ | 125 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited)
| First Quarter 2012
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Income (Loss) | $ | 125 |  |  | $ | 140 |  |  | $ | 81 |  |  | $ | (221 | ) |  | $ | 125 |
Other Comprehensive Income (Loss), Net of Tax: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | 1 |  |  | — |  |  | 11 |  |  | — |  |  | 12 |
Foreign Currency Translation | — |  |  | — |  |  | (4 | ) |  | — |  |  | (4 | )
Unrealized Gain (Loss) on Cash Flow Hedges | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Total Other Comprehensive Income (Loss), Net of Tax | 1 |  |  | — |  |  | 4 |  |  | — |  |  | 5 |
Total Comprehensive Income | $ | 126 |  |  | $ | 140 |  |  | $ | 85 |  |  | $ | (221 | ) |  | $ | 130 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions) (Unaudited)
| First Quarter 2013
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Cash Used for Operating Activities | $ | (96 | ) |  | $ | (9 | ) |  | $ | (15 | ) |  | $ | — |  |  | $ | (120 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Capital Expenditures | — |  |  | (97 | ) |  | (52 | ) |  | — |  |  | (149 | )
Net Investments in Consolidated Affiliates | — |  |  | — |  |  | (112 | ) |  | 112 |  |  | — |
Other Investing Activities | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Net Cash Provided by (Used for) Investing Activities | — |  |  | (97 | ) |  | (173 | ) |  | 112 |  |  | (158 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Repurchase of Common Stock | (55 | ) |  | — |  |  | — |  |  | — |  |  | (55 | )
Dividends Paid | (87 | ) |  | — |  |  | — |  |  | — |  |  | (87 | )
Excess Tax Benefits from Share-based Compensation | — |  |  | 16 |  |  | 4 |  |  | — |  |  | 20 |
Net Financing Activities and Advances to/from Consolidated Affiliates | 228 |  |  | (161 | ) |  | 45 |  |  | (112 | ) |  | — |
Proceeds from Exercise of Stock Options and Other | 10 |  |  | — |  |  | — |  |  | — |  |  | 10 |
Net Cash Provided by (Used for) Financing Activities | 96 |  |  | (145 | ) |  | 49 |  |  | (112 | ) |  | (112 | )
Effects of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Net Decrease in Cash and Cash Equivalents | — |  |  | (251 | ) |  | (140 | ) |  | — |  |  | (391 | )
Cash and Cash Equivalents, Beginning of Period | — |  |  | 417 |  |  | 356 |  |  | — |  |  | 773 |
Cash and Cash Equivalents, End of Period | $ | — |  |  | $ | 166 |  |  | $ | 216 |  |  | $ | — |  |  | $ | 382 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions) (Unaudited)
| First Quarter 2012
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities | $ | (116 | ) |  | $ | (84 | ) |  | $ | 17 |  |  | $ | — |  |  | $ | (183 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Capital Expenditures | — |  |  | (66 | ) |  | (70 | ) |  | — |  |  | (136 | )
Other Investing Activities | — |  |  | 8 |  |  | 4 |  |  | — |  |  | 12 |
Net Cash Used for Investing Activities | — |  |  | (58 | ) |  | (66 | ) |  | — |  |  | (124 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Proceeds from Long-term Debt, Net of Issuance Costs | 985 |  |  | — |  |  | — |  |  | — |  |  | 985 |
Repurchase of Common Stock | (376 | ) |  | — |  |  | — |  |  | — |  |  | (376 | )
Dividends Paid | (73 | ) |  | — |  |  | — |  |  | — |  |  | (73 | )
Excess Tax Benefits from Share-based Compensation | — |  |  | 70 |  |  | 17 |  |  | — |  |  | 87 |
Net Financing Activities and Advances to/from Consolidated Affiliates | (453 | ) |  | 437 |  |  | 16 |  |  | — |  |  | — |
Proceeds from Exercise of Stock Options and Other | 33 |  |  | — |  |  | — |  |  | — |  |  | 33 |
Net Cash Provided by Financing Activities | 116 |  |  | 507 |  |  | 33 |  |  | — |  |  | 656 |
Effects of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Net Increase (Decrease) in Cash and Cash Equivalents | — |  |  | 365 |  |  | (14 | ) |  | — |  |  | 351 |
Cash and Cash Equivalents, Beginning of Period | — |  |  | 371 |  |  | 564 |  |  | — |  |  | 935 |
Cash and Cash Equivalents, End of Period | $ | — |  |  | $ | 736 |  |  | $ | 550 |  |  | $ | — |  |  | $ | 1,286 |

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- Definition Schedule Of Supplemental Guarantor Financial Information [Text Block] + References No definition available. + Details
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- Details
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