Supplemental Guarantor Financial Information (Tables)

9 Months Ended

Oct. 31, 2015

Nov. 01, 2014

Condensed Consolidating Balance Sheet [Abstract]

Condensed Balance Sheet [Table Text Block]

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)



	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)

(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

Condensed Income Statement [Table Text Block]

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 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 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 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

Condensed Statement of Comprehensive Income [Table Text Block]

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 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 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 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

Condensed Cash Flow Statement [Table Text Block]

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