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Share-based Compensation (Tables)

12 Months Ended

Jan. 29, 2022

Share-based Payment Arrangement, Noncash Expense [Abstract]

Share-Based Compensation Expense

The following table provides share-based compensation expense included in the Consolidated Statements of Income (Loss) for 2021, 2020 and 2019:

			2021						2020						2019
			(in millions)
Costs of Goods Sold, Buying and Occupancy			$	10					$	9					$	14
General, Administrative and Store Operating Expenses			21						16						35
Total Share-based Compensation Expense			$	31					$	25					$	49

Restricted Stock Units and Performance Share Units

The following table provides the Company’s restricted stock unit and performance share unit activity on a combined basis for the fiscal year ended January 29, 2022:

			Number of Shares						Weighted Average Grant Date Fair Value (a)
			(in thousands)
Unvested as of January 30, 2021			6,647						$	25.68
Converted to Victoria's Secret & Co. Shares			(2,537)						35.19
Spin-Off Related Adjustment			807						—
Granted			1,537						52.91
Vested			(2,185)						37.21
Cancelled			(170)						33.46
Unvested as of January 29, 2022			4,099						$	22.92

 _______________

(a)The weighted average grant date fair value for activity subsequent to the Separation, including the unvested balance as of January 29, 2022, reflects the adjustment to preserve the intrinsic value of the awards immediately before and after the Separation.

Stock Option Activity

The following table provides the Company’s stock option activity for the fiscal year ended January 29, 2022:

			Number of Shares
			(in thousands)
Outstanding as of January 30, 2021			4,163
Converted to Victoria's Secret & Co. Shares			(1,042)
Spin-Off Related Adjustment			288
Granted			228
Exercised			(1,900)
Cancelled			(624)
Outstanding as of January 29, 2022			1,113
Options Exercisable as of January 29, 2022			859

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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