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 online and through retail stores located in the U.S. and Canada.

The Bath & Body Works segment sells body 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 online and at retail stores located in the U.S. and Canada.

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, as well as the online business in Greater China. This segment includes the following:


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


•	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 in travel retail and other locations; 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, which sold women's intimate apparel online and through company-owned stores located in Canada and the U.S., as well as stores operated by partners under franchise and license arrangements;


•	Henri Bendel, which sold handbags, jewelry and other accessory products online and through company-owned stores; and


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

In January 2019, the Company completed the sale of the La Senza business and closed all of its Henri Bendel stores and the website. For additional information, see Note 6, "Restructuring Activities."

The following table provides the Company’s segment information as of and for the fiscal years ended February 2, 2019, February 3, 2018 and January 28, 2017:



	Victoria’s Secret		Bath & Body Works		Victoria’s Secret and Bath & Body Works International			Other			Total
	(in millions)
February 2, 2019
Net Sales	$	7,375	$	4,631	$	605		$	626		$	13,237
Depreciation and Amortization	280		121		43			103			547
Operating Income (Loss) (a)	462		1,077		(37		)	(265		)	1,237
Total Assets (b)	3,129		1,898		842			2,221			8,090
Capital Expenditures	150		242		97			140			629
February 3, 2018
Net Sales	$	7,387	$	4,148	$	502		$	595		$	12,632
Depreciation and Amortization	279		101		30			114			524
Operating Income (Loss)	932		953		5			(162		)	1,728
Total Assets (b)	3,369		1,753		800			2,227			8,149
Capital Expenditures	270		232		111			94			707
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 (b)	3,285		1,632		593			2,660			8,170
Capital Expenditures	460		250		68			212			990

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(a)	Victoria's Secret and Victoria's Secret and Bath & Body Works International includes long-lived store asset impairment charges of $70 million and $31 million, respectively, and Other includes a loss on sale of La Senza of $99 million and Henri Bendel closures costs of $23 million. For additional information see Note 6, “Restructuring Activities" and Note 8, “Property and Equipment, Net."


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

The Company’s international net 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 net sales across all segments totaled $1.683 billion in 2018, $1.553 billion in 2017 and $1.408 billion in 2016. The Company’s internationally based long-lived assets were $454 million as of February 2, 2019 and $451 million as of February 3, 2018.