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Segment Information | 12 Months Ended
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Feb. 01, 2020
Segment Information [Abstract] |
Segment Information | 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 includes Mast Global, a merchandise sourcing and production function serving the Company and its international partners, and Corporate functions, including non-core real estate, equity investments and other governance functions such as treasury and tax. Results for 2018 and 2017 also include La Senza and Henri Bendel. The following table provides the Company’s segment information as of and for the fiscal years ended February 1, 2020, February 2, 2019 and February 3, 2018:
| Victoria’s Secret |  | Bath & Body Works |  | Victoria’s Secret and Bath & Body Works International |  | Other |  | Total
| (in millions)
2019 |  |  |  |  |  |  |  |  |
Net Sales | $ | 6,805 |  |  | $ | 5,170 |  |  | $ | 600 |  |  | $ | 339 |  |  | $ | 12,914 |
Depreciation and Amortization | 284 |  |  | 155 |  |  | 40 |  |  | 109 |  |  | 588 |
Operating Income (Loss) (a) | (616 | ) |  | 1,191 |  |  | (236 | ) |  | (81 | ) |  | 258 |
Total Assets (b) (c) | 3,883 |  |  | 2,837 |  |  | 939 |  |  | 2,466 |  |  | 10,125 |
Capital Expenditures | 76 |  |  | 206 |  |  | 24 |  |  | 152 |  |  | 458 |
2018 |  |  |  |  |  |  |  |  |
Net Sales | $ | 7,375 |  |  | $ | 4,631 |  |  | $ | 605 |  |  | $ | 626 |  |  | $ | 13,237 |
Depreciation and Amortization | 280 |  |  | 121 |  |  | 43 |  |  | 103 |  |  | 547 |
Operating Income (Loss) (d) | 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 |
2017 |  |  |  |  |  |  |  |  |
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 |
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(a) | Victoria's Secret includes goodwill and long-lived store asset impairment charges of $690 million and $51 million, respectively. Victoria's Secret and Bath & Body Works International includes long-lived store asset and goodwill impairment charges of $212 million and $30 million, respectively. For additional information see Note 7, “Property and Equipment, Net" and Note 9, "Goodwill and Trade Names."
(b) | Assets are allocated to the operating segments based on decision making authority relevant to the applicable assets.
(c) | The 2019 amounts reflect the Company's adoption of ASC 842, Leases, in the first quarter of 2019.
(d) | 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 the sale of La Senza of $99 million and Henri Bendel closures costs of $23 million. For additional information see Note 5, “Restructuring Activities" and Note 7, “Property and Equipment, Net."
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 $1.496 billion in 2019, $1.683 billion in 2018 and $1.553 billion in 2017. The Company’s internationally based long-lived assets were $713 million as of February 1, 2020 and $454 million as of February 2, 2019.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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