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Supplemental Guarantor Financial Information Supplemental Guarantor Financial Information (Notes) | 9 Months Ended
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Oct. 31, 2015
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, 2022 Notes, 2023 Notes and 2035 Notes are jointly and severally guaranteed on a full and unconditional basis by the Guarantors. 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 October 31, 2015, January 31, 2015 and November 1, 2014 and the Condensed Consolidating Statements of Income, Comprehensive Income and Cash Flows for the periods ended October 31, 2015 and November 1, 2014. In the fourth quarter 2014, the Company added a subsidiary to the Guarantors. Accordingly, the supplemental financial information has been recast for all periods presented. L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (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 |
Deferred Income Taxes | — |  |  | 37 |  |  | (2 | ) |  | — |  |  | 35 |
Other | — |  |  | 151 |  |  | 164 |  |  | — |  |  | 315 |
Total Current Assets | 3 |  |  | 2,954 |  |  | 607 |  |  | — |  |  | 3,564 |
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 | ) |  | — |
Other Assets | 191 |  |  | 39 |  |  | 708 |  |  | (612 | ) |  | 326 |
Total Assets | $ | 5,137 |  |  | $ | 21,041 |  |  | $ | 3,857 |  |  | $ | (22,066 | ) |  | $ | 7,969 |
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 | ) |  | (33 | ) |  | 304 |  |  | — |  |  | 268 |
Long-term Debt | 5,761 |  |  | 597 |  |  | 1 |  |  | (597 | ) |  | 5,762 |
Other Long-term Liabilities | — |  |  | 646 |  |  | 235 |  |  | (13 | ) |  | 868 |
Total Equity (Deficit) | (698 | ) |  | 18,843 |  |  | 2,654 |  |  | (21,456 | ) |  | (657 | )
Total Liabilities and Equity (Deficit) | $ | 5,137 |  |  | $ | 21,041 |  |  | $ | 3,857 |  |  | $ | (22,066 | ) |  | $ | 7,969 |
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (in millions)
| January 31, 2015
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | 1,462 |  |  | $ | 219 |  |  | $ | — |  |  | $ | 1,681 |
Accounts Receivable, Net | 1 |  |  | 197 |  |  | 54 |  |  | — |  |  | 252 |
Inventories | — |  |  | 919 |  |  | 117 |  |  | — |  |  | 1,036 |
Deferred Income Taxes | — |  |  | 34 |  |  | (1 | ) |  | — |  |  | 33 |
Other | — |  |  | 146 |  |  | 84 |  |  | — |  |  | 230 |
Total Current Assets | 1 |  |  | 2,758 |  |  | 473 |  |  | — |  |  | 3,232 |
Property and Equipment, Net | — |  |  | 1,385 |  |  | 892 |  |  | — |  |  | 2,277 |
Goodwill | — |  |  | 1,318 |  |  | — |  |  | — |  |  | 1,318 |
Trade Names and Other Intangible Assets, Net | — |  |  | 411 |  |  | — |  |  | — |  |  | 411 |
Net Investments in and Advances to/from Consolidated Affiliates | 4,635 |  |  | 14,003 |  |  | 1,405 |  |  | (20,043 | ) |  | — |
Other Assets | 188 |  |  | 35 |  |  | 693 |  |  | (610 | ) |  | 306 |
Total Assets | $ | 4,824 |  |  | $ | 19,910 |  |  | $ | 3,463 |  |  | $ | (20,653 | ) |  | $ | 7,544 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable | $ | — |  |  | $ | 300 |  |  | $ | 313 |  |  | $ | — |  |  | $ | 613 |
Accrued Expenses and Other | 83 |  |  | 495 |  |  | 322 |  |  | — |  |  | 900 |
Income Taxes | (4 | ) |  | 183 |  |  | (13 | ) |  | — |  |  | 166 |
Total Current Liabilities | 79 |  |  | 978 |  |  | 622 |  |  | — |  |  | 1,679 |
Deferred Income Taxes | (4 | ) |  | (32 | ) |  | 297 |  |  | — |  |  | 261 |
Long-term Debt | 4,765 |  |  | 597 |  |  | — |  |  | (597 | ) |  | 4,765 |
Other Long-term Liabilities | — |  |  | 609 |  |  | 224 |  |  | (13 | ) |  | 820 |
Total Equity (Deficit) | (16 | ) |  | 17,758 |  |  | 2,320 |  |  | (20,043 | ) |  | 19 |
Total Liabilities and Equity (Deficit) | $ | 4,824 |  |  | $ | 19,910 |  |  | $ | 3,463 |  |  | $ | (20,653 | ) |  | $ | 7,544 |
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEETS (in millions) (Unaudited)
| November 1, 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents | $ | — |  |  | $ | 516 |  |  | $ | 229 |  |  | $ | — |  |  | $ | 745 |
Accounts Receivable, Net | 3 |  |  | 214 |  |  | 57 |  |  | — |  |  | 274 |
Inventories | — |  |  | 1,318 |  |  | 167 |  |  | — |  |  | 1,485 |
Deferred Income Taxes | — |  |  | 44 |  |  | (13 | ) |  | — |  |  | 31 |
Other | — |  |  | 178 |  |  | 136 |  |  | — |  |  | 314 |
Total Current Assets | 3 |  |  | 2,270 |  |  | 576 |  |  | — |  |  | 2,849 |
Property and Equipment, Net | — |  |  | 1,400 |  |  | 881 |  |  | — |  |  | 2,281 |
Goodwill | — |  |  | 1,318 |  |  | — |  |  | — |  |  | 1,318 |
Trade Names and Other Intangible Assets, Net | — |  |  | 411 |  |  | — |  |  | — |  |  | 411 |
Net Investments in and Advances to/from Consolidated Affiliates | 4,392 |  |  | 15,372 |  |  | 1,170 |  |  | (20,934 | ) |  | — |
Other Assets | 184 |  |  | 19 |  |  | 699 |  |  | (612 | ) |  | 290 |
Total Assets | $ | 4,579 |  |  | $ | 20,790 |  |  | $ | 3,326 |  |  | $ | (21,546 | ) |  | $ | 7,149 |
LIABILITIES AND EQUITY (DEFICIT) |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts Payable | $ | — |  |  | $ | 485 |  |  | $ | 352 |  |  | $ | — |  |  | $ | 837 |
Accrued Expenses and Other | 81 |  |  | 417 |  |  | 237 |  |  | — |  |  | 735 |
Current Portion of Long-term Debt | 213 |  |  | — |  |  | — |  |  | — |  |  | 213 |
Income Taxes | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Total Current Liabilities | 294 |  |  | 902 |  |  | 603 |  |  | — |  |  | 1,799 |
Deferred Income Taxes | (4 | ) |  | (21 | ) |  | 253 |  |  | — |  |  | 228 |
Long-term Debt | 4,759 |  |  | 597 |  |  | — |  |  | (597 | ) |  | 4,759 |
Other Long-term Liabilities | 1 |  |  | 594 |  |  | 215 |  |  | (14 | ) |  | 796 |
Total Equity (Deficit) | (471 | ) |  | 18,718 |  |  | 2,255 |  |  | (20,935 | ) |  | (433 | )
Total Liabilities and Equity (Deficit) | $ | 4,579 |  |  | $ | 20,790 |  |  | $ | 3,326 |  |  | $ | (21,546 | ) |  | $ | 7,149 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS 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 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS 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: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Foreign Currency Translation | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | )
Unrealized Gain on Cash Flow Hedges | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Unrealized Gain on Marketable Securities | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Total Other Comprehensive Income (Loss), Net of Tax | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Comprehensive Income (Loss) | $ | 164 |  |  | $ | 207 |  |  | $ | — |  |  | $ | (207 | ) |  | $ | 164 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF INCOME (in millions) (Unaudited)
| Third Quarter 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Sales | $ | — |  |  | $ | 2,179 |  |  | $ | 779 |  |  | $ | (639 | ) |  | $ | 2,319 |
Costs of Goods Sold, Buying and Occupancy | — |  |  | (1,363 | ) |  | (620 | ) |  | 611 |  |  | (1,372 | )
Gross Profit | — |  |  | 816 |  |  | 159 |  |  | (28 | ) |  | 947 |
General, Administrative and Store Operating Expenses | (1 | ) |  | (587 | ) |  | (104 | ) |  | 29 |  |  | (663 | )
Operating Income (Loss) | (1 | ) |  | 229 |  |  | 55 |  |  | 1 |  |  | 284 |
Interest Expense | (80 | ) |  | (6 | ) |  | (2 | ) |  | 8 |  |  | (80 | )
Other Income | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Income (Loss) Before Income Taxes | (81 | ) |  | 223 |  |  | 54 |  |  | 9 |  |  | 205 |
Provision for Income Taxes | — |  |  | 47 |  |  | 26 |  |  | — |  |  | 73 |
Equity in Earnings (Loss), Net of Tax | 213 |  |  | 50 |  |  | 7 |  |  | (270 | ) |  | — |
Net Income (Loss) | $ | 132 |  |  | $ | 226 |  |  | $ | 35 |  |  | $ | (261 | ) |  | $ | 132 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited)
| Third Quarter 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Income (Loss) | $ | 132 |  |  | $ | 226 |  |  | $ | 35 |  |  | $ | (261 | ) |  | $ | 132 |
Other Comprehensive Income (Loss), Net of Tax: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | — |  |  | — |  |  | (13 | ) |  | — |  |  | (13 | )
Foreign Currency Translation | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Unrealized Gain on Cash Flow Hedges | — |  |  | — |  |  | 16 |  |  | — |  |  | 16 |
Total Other Comprehensive Income (Loss), Net of Tax | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Total Comprehensive Income (Loss) | $ | 132 |  |  | $ | 226 |  |  | $ | 41 |  |  | $ | (261 | ) |  | $ | 138 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS 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 STATEMENTS 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: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | )
Foreign Currency Translation | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Unrealized Gain on Cash Flow Hedges | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
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 STATEMENTS OF INCOME (in millions) (Unaudited)
| Year-to-Date 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Sales | $ | — |  |  | $ | 6,889 |  |  | $ | 2,336 |  |  | $ | (1,840 | ) |  | $ | 7,385 |
Costs of Goods Sold, Buying and Occupancy | — |  |  | (4,271 | ) |  | (1,897 | ) |  | 1,756 |  |  | (4,412 | )
Gross Profit | — |  |  | 2,618 |  |  | 439 |  |  | (84 | ) |  | 2,973 |
General, Administrative and Store Operating Expenses | (5 | ) |  | (1,748 | ) |  | (311 | ) |  | 87 |  |  | (1,977 | )
Operating Income (Loss) | (5 | ) |  | 870 |  |  | 128 |  |  | 3 |  |  | 996 |
Interest Expense | (246 | ) |  | (21 | ) |  | (6 | ) |  | 27 |  |  | (246 | )
Other Income | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Income (Loss) Before Income Taxes | (251 | ) |  | 849 |  |  | 128 |  |  | 30 |  |  | 756 |
Provision for Income Taxes | (1 | ) |  | 165 |  |  | 115 |  |  | — |  |  | 279 |
Equity in Earnings (Loss), Net of Tax | 727 |  |  | 308 |  |  | 257 |  |  | (1,292 | ) |  | — |
Net Income (Loss) | $ | 477 |  |  | $ | 992 |  |  | $ | 270 |  |  | $ | (1,262 | ) |  | $ | 477 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited)
| Year-to-Date 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Income (Loss) | $ | 477 |  |  | $ | 992 |  |  | $ | 270 |  |  | $ | (1,262 | ) |  | $ | 477 |
Other Comprehensive Income (Loss), Net of Tax: |  |  |  |  |  |  |  |  |
Reclassification of Cash Flow Hedges to Earnings | — |  |  | — |  |  | (5 | ) |  | — |  |  | (5 | )
Foreign Currency Translation | — |  |  | — |  |  | — |  |  | — |  |  | — |
Unrealized Gain on Cash Flow Hedges | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total Other Comprehensive Income (Loss), Net of Tax | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Total Comprehensive Income (Loss) | $ | 477 |  |  | $ | 992 |  |  | $ | 268 |  |  | $ | (1,262 | ) |  | $ | 475 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS 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 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 |
Purchases 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 |
Repurchase of Common Stock | (363 | ) |  | — |  |  | — |  |  | — |  |  | (363 | )
Dividends Paid | (1,026 | ) |  | — |  |  | — |  |  | — |  |  | (1,026 | )
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 | ) |  | 5 |  |  | — |  |  | 3 |
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 |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions) (Unaudited)
| Year-to-Date 2014
| L Brands, Inc. |  | Guarantor Subsidiaries |  | Non- guarantor Subsidiaries |  | Eliminations |  | Consolidated L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities | $ | (260 | ) |  | $ | 457 |  |  | $ | 173 |  |  | $ | — |  |  | $ | 370 |
Investing Activities: |  |  |  |  |  |  |  |  |
Capital Expenditures | — |  |  | (426 | ) |  | (159 | ) |  | — |  |  | (585 | )
Other Investing Activities | — |  |  | — |  |  | 15 |  |  | — |  |  | 15 |
Net Cash Used for Investing Activities | — |  |  | (426 | ) |  | (144 | ) |  | — |  |  | (570 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Borrowings from Revolving Facility | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Repayments on Revolving Facility | — |  |  | — |  |  | (5 | ) |  | — |  |  | (5 | )
Repurchase of Common Stock | (48 | ) |  | — |  |  | — |  |  | — |  |  | (48 | )
Dividends Paid | (591 | ) |  | — |  |  | — |  |  | — |  |  | (591 | )
Excess Tax Benefits from Share-based Compensation | — |  |  | 35 |  |  | 6 |  |  | — |  |  | 41 |
Net Financing Activities and Advances to/from Consolidated Affiliates | 876 |  |  | (903 | ) |  | 27 |  |  | — |  |  | — |
Proceeds from Exercise of Stock Options | 28 |  |  | — |  |  | — |  |  | — |  |  | 28 |
Financing Costs and Other | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net Cash Provided by (Used for) Financing Activities | 260 |  |  | (868 | ) |  | 33 |  |  | — |  |  | (575 | )
Effects of Exchange Rate Changes on Cash and Cash Equivalents | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net Increase (Decrease) in Cash and Cash Equivalents | — |  |  | (837 | ) |  | 63 |  |  | — |  |  | (774 | )
Cash and Cash Equivalents, Beginning of Period | — |  |  | 1,353 |  |  | 166 |  |  | — |  |  | 1,519 |
Cash and Cash Equivalents, End of Period | $ | — |  |  | $ | 516 |  |  | $ | 229 |  |  | $ | — |  |  | $ | 745 |

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