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Discontinued Operations (Tables) | 9 Months Ended
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Oct. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Discontinued Operations in Financial Statements | The following table summarizes the significant line items included in Income (Loss) from Discontinued Operations, Net of Tax in the Consolidated Statements of Income (Loss) for the third quarter and year-to-date 2021 and 2020:
| Third Quarter |  | Year-to-Date
| 2021 |  | 2020 |  | 2021 |  | 2020
| (in millions)
Net Sales | $ | 25 |  |  | $ | 1,353 |  |  | $ | 3,194 |  |  | $ | 3,313 |
Costs of Goods Sold, Buying and Occupancy | (14) |  |  | (856) |  |  | (1,841) |  |  | (2,643) |
General, Administrative and Store Operating Expenses (a) | (83) |  |  | (352) |  |  | (975) |  |  | (1,098) |
Interest Expense | — |  |  | (1) |  |  | (2) |  |  | (5) |
Other Income (Loss) | — |  |  | 1 |  |  | (1) |  |  | (1) |
Income (Loss) from Discontinued Operations Before Income Taxes | (72) |  |  | 145 |  |  | 375 |  |  | (434) |
Provision (Benefit) for Income Taxes | 17 |  |  | 10 |  |  | 119 |  |  | (110) |
Income (Loss) from Discontinued Operations, Net of Tax | $ | (89) |  |  | $ | 135 |  |  | $ | 256 |  |  | $ | (324) |
_______________ (a)Includes Separation-related expenses of $76 million and $104 million for the third quarter and year-to-date 2021, respectively. Prior to the third quarter of 2021, these costs were reported in the Other category under the Company's previous segment reporting. The following table summarizes the carrying value of the significant classes of assets and liabilities classified as discontinued operations as of January 30, 2021 and October 31, 2020:
|  |  | January 30, 2021 |  | October 31, 2020
|  |  | (in millions)
Cash and Cash Equivalents |  |  | $ | 335 |  |  | $ | 189 |
Accounts Receivable, Net |  |  | 121 |  |  | 135 |
Inventories |  |  | 701 |  |  | 981 |
Other |  |  | 82 |  |  | 73 |
Current Assets of Discontinued Operations |  |  | 1,239 |  |  | 1,378 |
Property and Equipment, Net |  |  | 1,078 |  |  | 1,167 |
Operating Lease Assets |  |  | 1,590 |  |  | 1,683 |
Trade Names |  |  | 246 |  |  | 246 |
Deferred Income Taxes |  |  | 11 |  |  | 11 |
Other Assets |  |  | 56 |  |  | 57 |
Other Assets of Discontinued Operations |  |  | $ | 2,981 |  |  | $ | 3,164 |
Accounts Payable |  |  | $ | 338 |  |  | $ | 548 |
Accrued Expenses and Other |  |  | 730 |  |  | 608 |
Current Debt |  |  | — |  |  | 11 |
Current Operating Lease Liabilities |  |  | 421 |  |  | 443 |
Income Taxes |  |  | 9 |  |  | 2 |
Current Liabilities of Discontinued Operations |  |  | 1,498 |  |  | 1,612 |
Deferred Income Taxes |  |  | 93 |  |  | 73 |
Long-term Debt |  |  | — |  |  | 87 |
Long-term Operating Lease Liabilities |  |  | 1,553 |  |  | 1,709 |
Other Long-term Liabilities |  |  | 21 |  |  | 24 |
Other Long-term Liabilities of Discontinued Operations |  |  | $ | 1,667 |  |  | $ | 1,893 |
The following table summarizes depreciation and other significant operating noncash items, capital expenditures and financing activities of discontinued operations for each period presented:
| Year-to-Date
| 2021 |  | 2020
| (in millions)
Depreciation of Long-Lived Assets | $ | 158 |  |  | $ | 250 |
Share-based Compensation Expense | 15 |  |  | 20 |
Victoria's Secret Asset Impairment Charges | — |  |  | 214 |
Gain from Victoria's Secret Hong Kong Store Closure and Lease Termination | — |  |  | (39) |
Gain Related to Formation of Victoria's Secret U.K. Joint Venture | — |  |  | (30) |
Capital Expenditures | (66) |  |  | (111) |
Net Repayments of Victoria's Secret Foreign Facilities | — |  |  | (57) |

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