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Revenue Recognition
 6 Months Ended
Jul. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Recognition Revenue Recognition
Accounts receivable, net from revenue-generating activities were $129 million as of July 31, 2021, $125 million as of January 30, 2021 and $186 million as of August 1, 2020. Accounts receivable primarily relate to amounts due from the Company's franchise, license and wholesale partners. Under these arrangements, payment terms are typically 60 to 90 days.
The Company records deferred revenue when cash payments are received in advance of transfer of control of goods or services. Deferred revenue primarily relates to gift cards, loyalty and private label credit card programs and direct channel shipments, which are all impacted by seasonal and holiday-related sales patterns. Deferred revenue was $325 million as of July 31, 2021, $371 million as of January 30, 2021 and $316 million as of August 1, 2020. The Company recognized $167 million as revenue year-to-date 2021 from amounts recorded as deferred revenue at the beginning of the year. As of July 31, 2021, the Company recorded deferred revenue of $316 million within Accrued Expenses and Other, and $9 million within Other Long-term Liabilities on the Consolidated Balance Sheet.
The following table provides a disaggregation of Net Sales for the second quarter and year-to-date 2021 and 2020:
Second QuarterYear-to-Date
2021202020212020
(in millions)
Bath & Body Works Stores - U.S. and Canada$1,230 $678 $2,280 $1,102 
Bath & Body Works Direct407 519 756 807 
Bath & Body Works International (a)67 56 137 105 
Total Bath & Body Works1,704 1,253 3,173 2,014 
Victoria’s Secret Stores - U.S. and Canada1,037 364 1,970 877 
Victoria’s Secret Direct469 614 990 922 
Victoria’s Secret International (b)108 88 208 161 
Total Victoria’s Secret1,614 1,066 3,168 1,960 
Total Net Sales$3,318 $2,319 $6,341 $3,974 
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(a)Results include royalties associated with franchised store and wholesale sales.
(b)Results include company-operated stores in the U.K. (pre-joint venture) and Greater China, and royalties associated with franchised stores and wholesale sales.