Supplemental Guarantor Financial Information (Tables)
|
9 Months Ended |
Oct. 29, 2016 |
Oct. 31, 2015 |
| Condensed Consolidating Balance Sheet [Abstract] |
|
|
| Condensed Balance Sheet [Table Text Block] |
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (in millions)
| | | | | | | | | | | | | | | | | | | | | | January 30, 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | ASSETS | | | | | | | | | | Current Assets: | | | | | | | | | | Cash and Cash Equivalents | $ | — |
| | $ | 2,190 |
| | $ | 358 |
| | $ | — |
| | $ | 2,548 |
| Accounts Receivable, Net | 1 |
| | 202 |
| | 58 |
| | — |
| | 261 |
| Inventories | — |
| | 978 |
| | 144 |
| | — |
| | 1,122 |
| Other | — |
| | 115 |
| | 110 |
| | — |
| | 225 |
| Total Current Assets | 1 |
| | 3,485 |
| | 670 |
| | — |
| | 4,156 |
| Property and Equipment, Net | — |
| | 1,574 |
| | 756 |
| | — |
| | 2,330 |
| Goodwill | — |
| | 1,318 |
| | — |
| | — |
| | 1,318 |
| Trade Names and Other Intangible Assets, Net | — |
| | 411 |
| | — |
| | — |
| | 411 |
| Net Investments in and Advances to/from Consolidated Affiliates | 5,368 |
| | 13,649 |
| | 1,242 |
| | (20,259 | ) | | — |
| Deferred Income Taxes | — |
| | 11 |
| | 19 |
| | — |
| | 30 |
| Other Assets | 141 |
| | 40 |
| | 679 |
| | (612 | ) | | 248 |
| Total Assets | $ | 5,510 |
| | $ | 20,488 |
| | $ | 3,366 |
| | $ | (20,871 | ) | | $ | 8,493 |
| LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | | Current Liabilities: | | | | | | | | | | Accounts Payable | $ | — |
| | $ | 333 |
| | $ | 335 |
| | $ | — |
| | $ | 668 |
| Accrued Expenses and Other | 100 |
| | 519 |
| | 358 |
| | — |
| | 977 |
| Current Portion of Long-term Debt | — |
| | — |
| | 6 |
| | — |
| | 6 |
| Income Taxes | (3 | ) | | 237 |
| | (10 | ) | | — |
| | 224 |
| Total Current Liabilities | 97 |
| | 1,089 |
| | 689 |
| | — |
| | 1,875 |
| Deferred Income Taxes | (3 | ) | | (86 | ) | | 346 |
| | — |
| | 257 |
| Long-term Debt | 5,714 |
| | 597 |
| | 1 |
| | (597 | ) | | 5,715 |
| Other Long-term Liabilities | — |
| | 670 |
| | 248 |
| | (14 | ) | | 904 |
| Total Equity (Deficit) | (298 | ) | | 18,218 |
| | 2,082 |
| | (20,260 | ) | | (258 | ) | Total Liabilities and Equity (Deficit) | $ | 5,510 |
| | $ | 20,488 |
| | $ | 3,366 |
| | $ | (20,871 | ) | | $ | 8,493 |
|
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | October 29, 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | ASSETS | | | | | | | | | | Current Assets: | | | | | | | | | | Cash and Cash Equivalents | $ | — |
| | $ | 370 |
| | $ | 284 |
| | $ | — |
| | $ | 654 |
| Accounts Receivable, Net | 1 |
| | 260 |
| | 64 |
| | — |
| | 325 |
| Inventories | — |
| | 1,501 |
| | 150 |
| | — |
| | 1,651 |
| Other | — |
| | 158 |
| | 98 |
| | — |
| | 256 |
| Total Current Assets | 1 |
| | 2,289 |
| | 596 |
| | — |
| | 2,886 |
| Property and Equipment, Net | — |
| | 1,955 |
| | 815 |
| | — |
| | 2,770 |
| Goodwill | — |
| | 1,318 |
| | 30 |
| | — |
| | 1,348 |
| Trade Names and Other Intangible Assets, Net | — |
| | 411 |
| | — |
| | — |
| | 411 |
| Net Investments in and Advances to/from Consolidated Affiliates | 4,475 |
| | 15,461 |
| | 1,815 |
| | (21,751 | ) | | — |
| Deferred Income Taxes | 1 |
| | 11 |
| | 18 |
| | — |
| | 30 |
| Other Assets | 133 |
| | 35 |
| | 661 |
| | (611 | ) | | 218 |
| Total Assets | $ | 4,610 |
| | $ | 21,480 |
| | $ | 3,935 |
| | $ | (22,362 | ) | | $ | 7,663 |
| LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | | Current Liabilities: | | | | | | | | | | Accounts Payable | $ | — |
| | $ | 580 |
| | $ | 382 |
| | $ | — |
| | $ | 962 |
| Accrued Expenses and Other | 111 |
| | 513 |
| | 285 |
| | — |
| | 909 |
| Current Portion of Long-term Debt | — |
| | — |
| | 23 |
| | — |
| | 23 |
| Income Taxes | — |
| | (2 | ) | | 115 |
| | — |
| | 113 |
| Total Current Liabilities | 111 |
| | 1,091 |
| | 805 |
| | — |
| | 2,007 |
| Deferred Income Taxes | (3 | ) | | (83 | ) | | 348 |
| | — |
| | 262 |
| Long-term Debt | 5,701 |
| | 597 |
| | — |
| | (597 | ) | | 5,701 |
| Other Long-term Liabilities | 1 |
| | 747 |
| | 147 |
| | (14 | ) | | 881 |
| Total Equity (Deficit) | (1,200 | ) | | 19,128 |
| | 2,635 |
| | (21,751 | ) | | (1,188 | ) | Total Liabilities and Equity (Deficit) | $ | 4,610 |
| | $ | 21,480 |
| | $ | 3,935 |
| | $ | (22,362 | ) | | $ | 7,663 |
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|
L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | October 31, 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | ASSETS | | | | | | | | | | Current Assets: | | | | | | | | | | Cash and Cash Equivalents | $ | — |
| | $ | 1,085 |
| | $ | 226 |
| | $ | — |
| | $ | 1,311 |
| Accounts Receivable, Net | 3 |
| | 216 |
| | 64 |
| | — |
| | 283 |
| Inventories | — |
| | 1,465 |
| | 155 |
| | — |
| | 1,620 |
| Other | — |
| | 151 |
| | 164 |
| | — |
| | 315 |
| Total Current Assets | 3 |
| | 2,917 |
| | 609 |
| | — |
| | 3,529 |
| Property and Equipment, Net | — |
| | 1,594 |
| | 756 |
| | — |
| | 2,350 |
| Goodwill | — |
| | 1,318 |
| | — |
| | — |
| | 1,318 |
| Trade Names and Other Intangible Assets, Net | — |
| | 411 |
| | — |
| | — |
| | 411 |
| Net Investments in and Advances to/from Consolidated Affiliates | 4,943 |
| | 14,725 |
| | 1,786 |
| | (21,454 | ) | | — |
| Deferred Income Taxes | — |
| | 9 |
| | 18 |
| | — |
| | 27 |
| Other Assets | 142 |
| | 34 |
| | 694 |
| | (612 | ) | | 258 |
| Total Assets | $ | 5,088 |
| | $ | 21,008 |
| | $ | 3,863 |
| | $ | (22,066 | ) | | $ | 7,893 |
| LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | | Current Liabilities: | | | | | | | | | | Accounts Payable | $ | 1 |
| | $ | 525 |
| | $ | 387 |
| | $ | — |
| | $ | 913 |
| Accrued Expenses and Other | 76 |
| | 463 |
| | 265 |
| | — |
| | 804 |
| Current Portion of Long-term Debt | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Income Taxes | — |
| | — |
| | 7 |
| | — |
| | 7 |
| Total Current Liabilities | 77 |
| | 988 |
| | 663 |
| | — |
| | 1,728 |
| Deferred Income Taxes | (3 | ) | | (66 | ) | | 310 |
| | — |
| | 241 |
| Long-term Debt | 5,712 |
| | 597 |
| | 1 |
| | (597 | ) | | 5,713 |
| Other Long-term Liabilities | — |
| | 646 |
| | 235 |
| | (13 | ) | | 868 |
| Total Equity (Deficit) | (698 | ) | | 18,843 |
| | 2,654 |
| | (21,456 | ) | | (657 | ) | Total Liabilities and Equity (Deficit) | $ | 5,088 |
| | $ | 21,008 |
| | $ | 3,863 |
| | $ | (22,066 | ) | | $ | 7,893 |
|
|
| Condensed Income Statement [Table Text Block] |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Sales | $ | — |
| | $ | 7,674 |
| | $ | 2,512 |
| | $ | (2,101 | ) | | $ | 8,085 |
| Costs of Goods Sold, Buying and Occupancy | — |
| | (4,785 | ) | | (2,058 | ) | | 1,939 |
| | (4,904 | ) | Gross Profit | — |
| | 2,889 |
| | 454 |
| | (162 | ) | | 3,181 |
| General, Administrative and Store Operating Expenses | (6 | ) | | (1,959 | ) | | (330 | ) | | 129 |
| | (2,166 | ) | Operating Income (Loss) | (6 | ) | | 930 |
| | 124 |
| | (33 | ) | | 1,015 |
| Interest Expense | (295 | ) | | (40 | ) | | (7 | ) | | 47 |
| | (295 | ) | Other Income (Loss) | (36 | ) | | 2 |
| | 117 |
| | — |
| | 83 |
| Income (Loss) Before Income Taxes | (337 | ) | | 892 |
| | 234 |
| | 14 |
| | 803 |
| Provision for Income Taxes | (13 | ) | | 216 |
| | 74 |
| | — |
| | 277 |
| Equity in Earnings (Loss), Net of Tax | 850 |
| | 332 |
| | 268 |
| | (1,450 | ) | | — |
| Net Income (Loss) | $ | 526 |
| | $ | 1,008 |
| | $ | 428 |
| | $ | (1,436 | ) | | $ | 526 |
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Sales | $ | — |
| | $ | 2,478 |
| | $ | 846 |
| | $ | (743 | ) | | $ | 2,581 |
| Costs of Goods Sold, Buying and Occupancy | — |
| | (1,545 | ) | | (678 | ) | | 667 |
| | (1,556 | ) | Gross Profit | — |
| | 933 |
| | 168 |
| | (76 | ) | | 1,025 |
| General, Administrative and Store Operating Expenses | (1 | ) | | (685 | ) | | (111 | ) | | 56 |
| | (741 | ) | Operating Income (Loss) | (1 | ) | | 248 |
| | 57 |
| | (20 | ) | | 284 |
| Interest Expense | (97 | ) | | (20 | ) | | (2 | ) | | 22 |
| | (97 | ) | Other Income | — |
| | — |
| | 3 |
| | — |
| | 3 |
| Income (Loss) Before Income Taxes | (98 | ) | | 228 |
| | 58 |
| | 2 |
| | 190 |
| Provision for Income Taxes | — |
| | 82 |
| | (14 | ) | | — |
| | 68 |
| Equity in Earnings (Loss), Net of Tax | 220 |
| | 47 |
| | 4 |
| | (271 | ) | | — |
| Net Income (Loss) | $ | 122 |
| | $ | 193 |
| | $ | 76 |
| | $ | (269 | ) | | $ | 122 |
|
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Sales | $ | — |
| | $ | 7,314 |
| | $ | 2,523 |
| | $ | (2,078 | ) | | $ | 7,759 |
| Costs of Goods Sold, Buying and Occupancy | — |
| | (4,487 | ) | | (2,041 | ) | | 1,970 |
| | (4,558 | ) | Gross Profit | — |
| | 2,827 |
| | 482 |
| | (108 | ) | | 3,201 |
| General, Administrative and Store Operating Expenses | (10 | ) | | (1,874 | ) | | (302 | ) | | 99 |
| | (2,087 | ) | Operating Income (Loss) | (10 | ) | | 953 |
| | 180 |
| | (9 | ) | | 1,114 |
| Interest Expense | (237 | ) | | (23 | ) | | (7 | ) | | 30 |
| | (237 | ) | Other Income | — |
| | 4 |
| | 71 |
| | — |
| | 75 |
| Income (Loss) Before Income Taxes | (247 | ) | | 934 |
| | 244 |
| | 21 |
| | 952 |
| Provision for Income Taxes | — |
| | 230 |
| | 105 |
| | — |
| | 335 |
| Equity in Earnings (Loss), Net of Tax | 864 |
| | 386 |
| | 217 |
| | (1,467 | ) | | — |
| Net Income (Loss) | $ | 617 |
| | $ | 1,090 |
| | $ | 356 |
| | $ | (1,446 | ) | | $ | 617 |
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Sales | $ | — |
| | $ | 2,357 |
| | $ | 893 |
| | $ | (768 | ) | | $ | 2,482 |
| Costs of Goods Sold, Buying and Occupancy | — |
| | (1,456 | ) | | (720 | ) | | 725 |
| | (1,451 | ) | Gross Profit | — |
| | 901 |
| | 173 |
| | (43 | ) | | 1,031 |
| General, Administrative and Store Operating Expenses | (4 | ) | | (629 | ) | | (100 | ) | | 41 |
| | (692 | ) | Operating Income (Loss) | (4 | ) | | 272 |
| | 73 |
| | (2 | ) | | 339 |
| Interest Expense | (79 | ) | | (11 | ) | | (2 | ) | | 13 |
| | (79 | ) | Other Income | — |
| | — |
| | — |
| | — |
| | — |
| Income (Loss) Before Income Taxes | (83 | ) | | 261 |
| | 71 |
| | 11 |
| | 260 |
| Provision for Income Taxes | — |
| | 62 |
| | 34 |
| | — |
| | 96 |
| Equity in Earnings (Loss), Net of Tax | 247 |
| | 8 |
| | (37 | ) | | (218 | ) | | — |
| Net Income (Loss) | $ | 164 |
| | $ | 207 |
| | $ | — |
| | $ | (207 | ) | | $ | 164 |
|
|
| Condensed Statement of Comprehensive Income [Table Text Block] |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Income (Loss) | $ | 526 |
| | $ | 1,008 |
| | $ | 428 |
| | $ | (1,436 | ) | | $ | 526 |
| Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | | Foreign Currency Translation | — |
| | — |
| | (25 | ) | | — |
| | (25 | ) | Unrealized Loss on Cash Flow Hedges | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Reclassification of Cash Flow Hedges to Earnings | — |
| | — |
| | 5 |
| | — |
| | 5 |
| Unrealized Loss on Marketable Securities | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Reclassification of Gain on Marketable Securities to Earnings | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Total Other Comprehensive Income (Loss), Net of Tax | — |
| | — |
| | (28 | ) | | — |
| | (28 | ) | Total Comprehensive Income (Loss) | $ | 526 |
| | $ | 1,008 |
| | $ | 400 |
| | $ | (1,436 | ) | | $ | 498 |
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Income (Loss) | $ | 122 |
| | $ | 193 |
| | $ | 76 |
| | $ | (269 | ) | | $ | 122 |
| Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | | Foreign Currency Translation | — |
| | — |
| | (15 | ) | | — |
| | (15 | ) | Unrealized Gain on Cash Flow Hedges | — |
| | — |
| | 9 |
| | — |
| | 9 |
| Reclassification of Cash Flow Hedges to Earnings | — |
| | — |
| | (4 | ) | | — |
| | (4 | ) | Total Other Comprehensive Income (Loss), Net of Tax | — |
| | — |
| | (10 | ) | | — |
| | (10 | ) | Total Comprehensive Income (Loss) | $ | 122 |
| | $ | 193 |
| | $ | 66 |
| | $ | (269 | ) | | $ | 112 |
|
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Income (Loss) | $ | 617 |
| | $ | 1,090 |
| | $ | 356 |
| | $ | (1,446 | ) | | $ | 617 |
| Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | | Foreign Currency Translation | — |
| | — |
| | 5 |
| | — |
| | 5 |
| Unrealized Gain on Cash Flow Hedges | — |
| | — |
| | 6 |
| | — |
| | 6 |
| Reclassification of Cash Flow Hedges to Earnings | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) | Unrealized Gain on Marketable Securities | — |
| | — |
| | 2 |
| | — |
| | 2 |
| Total Other Comprehensive Income (Loss), Net of Tax | — |
| | — |
| | 6 |
| | — |
| | 6 |
| Total Comprehensive Income (Loss) | $ | 617 |
| | $ | 1,090 |
| | $ | 362 |
| | $ | (1,446 | ) | | $ | 623 |
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Third Quarter 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Income (Loss) | $ | 164 |
| | $ | 207 |
| | $ | — |
| | $ | (207 | ) | | $ | 164 |
| Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | | Foreign Currency Translation | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) | Unrealized Gain on Cash Flow Hedges | — |
| | — |
| | 2 |
| | — |
| | 2 |
| Reclassification of Cash Flow Hedges to Earnings | — |
| | — |
| | 3 |
| | — |
| | 3 |
| Unrealized Gain on Marketable Securities | — |
| | — |
| | 2 |
| | — |
| | 2 |
| Total Other Comprehensive Income (Loss), Net of Tax | — |
| | — |
| | — |
| | — |
| | — |
| Total Comprehensive Income (Loss) | $ | 164 |
| | $ | 207 |
| | $ | — |
| | $ | (207 | ) | | $ | 164 |
|
|
| Condensed Cash Flow Statement [Table Text Block] |
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2016 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Cash Provided by (Used for) Operating Activities | $ | (342 | ) | | $ | 402 |
| | $ | 256 |
| | $ | — |
| | $ | 316 |
| Investing Activities: | | | | | | | | | | Capital Expenditures | — |
| | (648 | ) | | (177 | ) | | — |
| | (825 | ) | Return of Capital from Easton Town Center, LLC | — |
| | — |
| | 108 |
| | — |
| | 108 |
| Acquisition, Net of Cash Acquired of $1 | — |
| | — |
| | (33 | ) | | — |
| | (33 | ) | Proceeds from Sale of Marketable Securities | — |
| | — |
| | 10 |
| | — |
| | 10 |
| Net Investments in Consolidated Affiliates | — |
| | — |
| | (27 | ) | | 27 |
| | — |
| Other Investing Activities | — |
| | 1 |
| | 18 |
| | — |
| | 19 |
| Net Cash Provided by (Used for) Investing Activities | — |
| | (647 | ) | | (101 | ) | | 27 |
| | (721 | ) | Financing Activities: | | | | | | | | | | Proceeds from the Issuance of Long-term Debt, Net of Issuance Costs | 692 |
| | — |
| | — |
| | — |
| | 692 |
| Payment of Long-term Debt | (742 | ) | | — |
| | — |
| | — |
| | (742 | ) | Borrowings from Revolving Facilities | — |
| | — |
| | 20 |
| | — |
| | 20 |
| Repayments on Revolving Facilities | — |
| | — |
| | (4 | ) | | — |
| | (4 | ) | Dividends Paid | (1,096 | ) | | — |
| | — |
| | — |
| | (1,096 | ) | Repurchases of Common Stock | (410 | ) | | — |
| | — |
| | — |
| | (410 | ) | Excess Tax Benefits from Share-based Compensation | — |
| | 35 |
| | 4 |
| | — |
| | 39 |
| Net Financing Activities and Advances to/from Consolidated Affiliates | 1,881 |
| | (1,608 | ) | | (246 | ) | | (27 | ) | | — |
| Proceeds from Exercise of Stock Options | 17 |
| | — |
| | — |
| | — |
| | 17 |
| Financing Costs and Other | — |
| | (2 | ) | | — |
| | — |
| | (2 | ) | Net Cash Provided by (Used for) Financing Activities | 342 |
| | (1,575 | ) | | (226 | ) | | (27 | ) | | (1,486 | ) | Effects of Exchange Rate Changes on Cash and Cash Equivalents | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Net Decrease in Cash and Cash Equivalents | — |
| | (1,820 | ) | | (74 | ) | | — |
| | (1,894 | ) | Cash and Cash Equivalents, Beginning of Period | — |
| | 2,190 |
| | 358 |
| | — |
| | 2,548 |
| Cash and Cash Equivalents, End of Period | $ | — |
| | $ | 370 |
| | $ | 284 |
| | $ | — |
| | $ | 654 |
|
|
L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | Year-to-Date 2015 | | L Brands, Inc. | | Guarantor Subsidiaries | | Non- guarantor Subsidiaries | | Eliminations | | Consolidated L Brands, Inc. | Net Cash Provided by (Used for) Operating Activities | $ | (254 | ) | | $ | 377 |
| | $ | 139 |
| | $ | — |
| | $ | 262 |
| Investing Activities: | | | | | | | | | | Capital Expenditures | — |
| | (440 | ) | | (163 | ) | | — |
| | (603 | ) | Proceeds from the Sale of Assets | — |
| | — |
| | 196 |
| | — |
| | 196 |
| Proceeds from Divestiture of Third-party Apparel Sourcing Business | — |
| | 1 |
| | 84 |
| | — |
| | 85 |
| Proceeds from Sale of Marketable Securities | — |
| | 50 |
| | — |
| | — |
| | 50 |
| Purchase of Marketable Securities | — |
| | (50 | ) | | (10 | ) | | — |
| | (60 | ) | Net Cash Provided by (Used for) Investing Activities | — |
| | (439 | ) | | 107 |
| | — |
| | (332 | ) | Financing Activities: | | | | | | | | | | Proceeds from Issuance of Long-term Debt, Net of Issuance Costs | 988 |
| | — |
| | — |
| | — |
| | 988 |
| Borrowings from Revolving Facilities | — |
| | — |
| | 5 |
| | — |
| | 5 |
| Dividends Paid | (1,026 | ) | | — |
| | — |
| | — |
| | (1,026 | ) | Repurchases of Common Stock | (363 | ) | | — |
| | — |
| | — |
| | (363 | ) | Excess Tax Benefits from Share-based Compensation | — |
| | 57 |
| | 8 |
| | — |
| | 65 |
| Net Financing Activities and Advances to/from Consolidated Affiliates | 624 |
| | (370 | ) | | (254 | ) | | — |
| | — |
| Proceeds from Exercise of Stock Options | 31 |
| | — |
| | — |
| | — |
| | 31 |
| Financing Costs and Other | — |
| | (2 | ) | | — |
| | — |
| | (2 | ) | Net Cash Provided by (Used for) Financing Activities | 254 |
| | (315 | ) | | (241 | ) | | — |
| | (302 | ) | Effects of Exchange Rate Changes on Cash and Cash Equivalents | — |
| | — |
| | 2 |
| | — |
| | 2 |
| Net Increase (Decrease) in Cash and Cash Equivalents | — |
| | (377 | ) | | 7 |
| | — |
| | (370 | ) | Cash and Cash Equivalents, Beginning of Period | — |
| | 1,462 |
| | 219 |
| | — |
| | 1,681 |
| Cash and Cash Equivalents, End of Period | $ | — |
| | $ | 1,085 |
| | $ | 226 |
| | $ | — |
| | $ | 1,311 |
|
|