Supplemental Guarantor Financial Information (Tables)
 3 Months Ended
May 05, 2018
Condensed Consolidating Balance Sheet [Abstract]  
Condensed Balance Sheet [Table Text Block]
L BRANDS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(in millions)
(Unaudited)
 
 
May 5, 2018
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
—

 
$
677

 
$
355

 
$
—

 
$
1,032

Accounts Receivable, Net
—

 
152

 
122

 
—

 
274

Inventories
—

 
1,199

 
151

 
—

 
1,350

Other
1

 
136

 
97

 
—

 
234

Total Current Assets
1

 
2,164

 
725

 
—

 
2,890

Property and Equipment, Net
—

 
1,970

 
924

 
—

 
2,894

Goodwill
—

 
1,318

 
30

 
—

 
1,348

Trade Names
—

 
411

 
—

 
—

 
411

Net Investments in and Advances to/from Consolidated Affiliates
4,690

 
18,969

 
2,025

 
(25,684
)
 
—

Deferred Income Taxes
—

 
9

 
13

 
—

 
22

Other Assets
129

 
16

 
651

 
(612
)
 
184

Total Assets
$
4,820

 
$
24,857

 
$
4,368

 
$
(26,296
)
 
$
7,749

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts Payable
$
5

 
$
350

 
$
362

 
$
—

 
$
717

Accrued Expenses and Other
59

 
461

 
328

 
—

 
848

Current Debt
—

 
—

 
89

 
—

 
89

Income Taxes
6

 
176

 
22

 
—

 
204

Total Current Liabilities
70

 
987

 
801

 
—

 
1,858

Deferred Income Taxes
(2
)
 
(41
)
 
277

 
—

 
234

Long-term Debt
5,707

 
597

 
12

 
(597
)
 
5,719

Other Long-term Liabilities
1

 
823

 
98

 
(15
)
 
907

Total Equity (Deficit)
(956
)
 
22,491

 
3,180

 
(25,684
)
 
(969
)
Total Liabilities and Equity (Deficit)
$
4,820

 
$
24,857

 
$
4,368

 
$
(26,296
)
 
$
7,749


L BRANDS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(in millions)
(Unaudited)
 
 
April 29, 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
—

 
$
1,207

 
$
348

 
$
—

 
$
1,555

Accounts Receivable, Net
1

 
130

 
82

 
—

 
213

Inventories
—

 
1,000

 
147

 
—

 
1,147

Other
—

 
130

 
107

 
—

 
237

Total Current Assets
1

 
2,467

 
684

 
—

 
3,152

Property and Equipment, Net
—

 
1,935

 
826

 
—

 
2,761

Goodwill
—

 
1,318

 
30

 
—

 
1,348

Trade Names
—

 
411

 
—

 
—

 
411

Net Investments in and Advances to/from Consolidated Affiliates
4,819

 
16,358

 
1,449

 
(22,626
)
 
—

Deferred Income Taxes
—

 
10

 
13

 
—

 
23

Other Assets
129

 
34

 
636

 
(612
)
 
187

Total Assets
$
4,949

 
$
22,533

 
$
3,638

 
$
(23,238
)
 
$
7,882

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts Payable
$
2

 
$
371

 
$
291

 
$
—

 
$
664

Accrued Expenses and Other
109

 
394

 
310

 
—

 
813

Current Debt
—

 
—

 
44

 
—

 
44

Income Taxes
(11
)
 
226

 
95

 
—

 
310

Total Current Liabilities
100

 
991

 
740

 
—

 
1,831

Deferred Income Taxes
(3
)
 
(86
)
 
449

 
—

 
360

Long-term Debt
5,702

 
597

 
—

 
(597
)
 
5,702

Other Long-term Liabilities
3

 
752

 
84

 
(15
)
 
824

Total Equity (Deficit)
(853
)
 
20,279

 
2,365

 
(22,626
)
 
(835
)
Total Liabilities and Equity (Deficit)
$
4,949

 
$
22,533

 
$
3,638

 
$
(23,238
)
 
$
7,882

L BRANDS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(in millions)

 
February 3, 2018
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
ASSETS
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
$
—

 
$
1,164

 
$
351

 
$
—

 
$
1,515

Accounts Receivable, Net
—

 
186

 
124

 
—

 
310

Inventories
—

 
1,095

 
145

 
—

 
1,240

Other
—

 
132

 
96

 
—

 
228

Total Current Assets
—

 
2,577

 
716

 
—

 
3,293

Property and Equipment, Net
—

 
1,984

 
909

 
—

 
2,893

Goodwill
—

 
1,318

 
30

 
—

 
1,348

Trade Names
—

 
411

 
—

 
—

 
411

Net Investments in and Advances to/from Consolidated Affiliates
4,912

 
18,359

 
2,106

 
(25,377
)
 
—

Deferred Income Taxes
—

 
10

 
4

 
—

 
14

Other Assets
129

 
18

 
654

 
(611
)
 
190

Total Assets
$
5,041

 
$
24,677

 
$
4,419

 
$
(25,988
)
 
$
8,149

LIABILITIES AND EQUITY (DEFICIT)
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts Payable
$
2

 
$
349

 
$
366

 
$
—

 
$
717

Accrued Expenses and Other
101

 
529

 
399

 
—

 
1,029

Current Debt
—

 
—

 
87

 
—

 
87

Income Taxes
6

 
174

 
18

 
—

 
198

Total Current Liabilities
109

 
1,052

 
870

 
—

 
2,031

Deferred Income Taxes
(2
)
 
(46
)
 
286

 
—

 
238

Long-term Debt
5,706

 
597

 
1

 
(597
)
 
5,707

Other Long-term Liabilities
3

 
835

 
100

 
(14
)
 
924

Total Equity (Deficit)
(775
)
 
22,239

 
3,162

 
(25,377
)
 
(751
)
Total Liabilities and Equity (Deficit)
$
5,041

 
$
24,677

 
$
4,419

 
$
(25,988
)
 
$
8,149
Condensed Income Statement [Table Text Block]
L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF INCOME
(in millions)
(Unaudited)
 
 
First Quarter 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Sales
$
—

 
$
2,310

 
$
696

 
$
(569
)
 
$
2,437

Costs of Goods Sold, Buying and Occupancy
—

 
(1,486
)
 
(571
)
 
523

 
(1,534
)
Gross Profit
—

 
824

 
125

 
(46
)
 
903

General, Administrative and Store Operating Expenses
(4
)
 
(635
)
 
(90
)
 
35

 
(694
)
Operating Income (Loss)
(4
)
 
189

 
35

 
(11
)
 
209

Interest Expense
(100
)
 
(11
)
 
(3
)
 
13

 
(101
)
Other Income
—

 
3

 
7

 
—

 
10

Income (Loss) Before Income Taxes
(104
)
 
181

 
39

 
2

 
118

Provision for Income Taxes
—

 
20

 
4

 
—

 
24

Equity in Earnings (Loss), Net of Tax
198

 
179

 
150

 
(527
)
 
—

Net Income (Loss)
$
94

 
$
340

 
$
185

 
$
(525
)
 
$
94





L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF INCOME
(in millions)
(Unaudited)
 
 
First Quarter 2018
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Sales
$
—

 
$
2,466

 
$
839

 
$
(679
)
 
$
2,626

Costs of Goods Sold, Buying and Occupancy
—

 
(1,622
)
 
(669
)
 
609

 
(1,682
)
Gross Profit
—

 
844

 
170

 
(70
)
 
944

General, Administrative and Store Operating Expenses
(4
)
 
(726
)
 
(109
)
 
50

 
(789
)
Operating Income (Loss)
(4
)
 
118

 
61

 
(20
)
 
155

Interest Expense
(97
)
 
(20
)
 
(3
)
 
22

 
(98
)
Other Income (Loss)
—

 
4

 
(2
)
 
—

 
2

Income (Loss) Before Income Taxes
(101
)
 
102

 
56

 
2

 
59

Provision (Benefit) for Income Taxes
(2
)
 
13

 
—

 
—

 
11

Equity in Earnings (Loss), Net of Tax
147

 
215

 
152

 
(514
)
 
—

Net Income (Loss)
$
48

 
$
304

 
$
208

 
$
(512
)
 
$
48
Condensed Statement of Comprehensive Income [Table Text Block]


L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
(in millions)
(Unaudited)
 
 
First Quarter 2018
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Income (Loss)
$
48

 
$
304

 
$
208

 
$
(512
)
 
$
48

Other Comprehensive Income (Loss), Net of Tax:
 
 
 
 
 
 
 
 
 
Foreign Currency Translation
—

 
—

 
(13
)
 
—

 
(13
)
Unrealized Gain on Cash Flow Hedges
—

 
—

 
6

 
—

 
6

Reclassification of Cash Flow Hedges to Earnings
—

 
—

 
2

 
—

 
2

Total Other Comprehensive Income (Loss), Net of Tax
—

 
—

 
(5
)
 
—

 
(5
)
Total Comprehensive Income (Loss)
$
48

 
$
304

 
$
203

 
$
(512
)
 
$
43



L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
(in millions)
(Unaudited)
 
 
First Quarter 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Income (Loss)
$
94

 
$
340

 
$
185

 
$
(525
)
 
$
94

Other Comprehensive Income (Loss), Net of Tax:
 
 
 
 
 
 
 
 
 
Foreign Currency Translation
—

 
—

 
3

 
—

 
3

Unrealized Gain on Cash Flow Hedges
—

 
—

 
9

 
—

 
9

Reclassification of Cash Flow Hedges to Earnings
—

 
—

 
(6
)
 
—

 
(6
)
Total Other Comprehensive Income (Loss), Net of Tax
—

 
—

 
6

 
—

 
6

Total Comprehensive Income (Loss)
$
94

 
$
340

 
$
191

 
$
(525
)
 
$
100
Condensed Cash Flow Statement [Table Text Block]
BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(in millions)
(Unaudited)
 
 
Year-to-Date 2018
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities
$
(141
)
 
$
65

 
$
(3
)
 
$
—

 
$
(79
)
Investing Activities:
 
 
 
 
 
 
 
 
 
Capital Expenditures
—

 
(91
)
 
(69
)
 
—

 
(160
)
Return of Capital from Easton Investments
—

 
—

 
1

 
—

 
1

Net Investments in Consolidated Affiliates
—

 
—

 
(11
)
 
11

 
—

Net Cash Provided by (Used for) Investing Activities
—

 
(91
)
 
(79
)
 
11

 
(159
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings from Foreign Facilities
—

 
—

 
21

 
—

 
21

Repayments of Foreign Facilities
—

 
—

 
(8
)
 
—

 
(8
)
Dividends Paid
(168
)
 
—

 
—

 
—

 
(168
)
Repurchases of Common Stock
(81
)
 
—

 
—

 
—

 
(81
)
Tax Payments related to Share-based Awards
(8
)
 
—

 
—

 
—

 
(8
)
Proceeds from Exercise of Stock Options
1

 
—

 
—

 
—

 
1

Net Financing Activities and Advances to/from Consolidated Affiliates
397

 
(461
)
 
75

 
(11
)
 
—

Net Cash Provided by (Used for) Financing Activities
141

 
(461
)
 
88

 
(11
)
 
(243
)
Effects of Exchange Rate Changes on Cash and Cash Equivalents
—

 
—

 
(2
)
 
—

 
(2
)
Net Increase (Decrease) in Cash and Cash Equivalents
—

 
(487
)
 
4

 
—

 
(483
)
Cash and Cash Equivalents, Beginning of Period
—

 
1,164

 
351

 
—

 
1,515

Cash and Cash Equivalents, End of Period
$
—

 
$
677

 
$
355

 
$
—

 
$
1,032


L BRANDS, INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(in millions)
(Unaudited)
 
 
Year-to-Date 2017
 
L Brands, Inc.
 
Guarantor
Subsidiaries
 
Non-
guarantor
Subsidiaries
 
Eliminations
 
Consolidated
L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities
$
(96
)
 
$
181

 
$
(78
)
 
$
—

 
$
7

Investing Activities:
 
 
 
 
 
 
 
 
 
Capital Expenditures
—

 
(135
)
 
(30
)
 
—

 
(165
)
Return of Capital from Easton Investments
—

 
—

 
10

 
—

 
10

Net Cash Used for Investing Activities
—

 
(135
)
 
(20
)
 
—

 
(155
)
Financing Activities:
 
 
 
 
 
 
 
 
 
Borrowings from Foreign Facilities
—

 
—

 
9

 
—

 
9

Repayments of Foreign Facilities
—

 
—

 
(1
)
 
—

 
(1
)
Dividends Paid
(172
)
 
—

 
—

 
—

 
(172
)
Repurchases of Common Stock
(85
)
 
—

 
—

 
—

 
(85
)
Tax Payments related to Share-based Awards
(17
)
 
—

 
—

 
—

 
(17
)
Proceeds from Exercise of Stock Options
36

 
—

 
—

 
—

 
36

Net Financing Activities and Advances to/from Consolidated Affiliates
334

 
(401
)
 
67

 
—

 
—

Net Cash Provided by (Used for) Financing Activities
96

 
(401
)
 
75

 
—

 
(230
)
Effects of Exchange Rate Changes on Cash and Cash Equivalents
—

 
—

 
(1
)
 
—

 
(1
)
Net Decrease in Cash and Cash Equivalents
—

 
(355
)
 
(24
)
 
—

 
(379
)
Cash and Cash Equivalents, Beginning of Period
—

 
1,562

 
372

 
—

 
1,934

Cash and Cash Equivalents, End of Period
$
—

 
$
1,207

 
$
348

 
$
—

 
$
1,555