Segment Information

12 Months Ended

Jan. 30, 2016

Segment Information [Abstract]

Segment Information

Segment Information

The Company has three reportable segments: Victoria’s Secret, Bath & Body Works and Victoria's Secret and Bath & Body Works International.

The Victoria’s Secret segment sells women’s intimate and other apparel, personal care and beauty products under the Victoria’s Secret and PINK brand names. Victoria’s Secret merchandise is sold through retail stores located in the U.S. and Canada and its website, www.VictoriasSecret.com.

The Bath & Body Works segment sells personal care, soaps, sanitizers and home fragrance products under the Bath & Body Works, White Barn Candle Company, C.O. Bigelow and other brand names. Bath & Body Works merchandise is sold at retail stores located in the U.S. and Canada and through its website, www.BathandBodyWorks.com.

The Victoria's Secret and Bath & Body Works International segment includes the Victoria's Secret and Bath & Body Works company-owned and partner-operated stores located outside of the U.S. and Canada. These businesses include the following:

• Victoria's Secret Beauty and Accessories stores operated by partners under franchise, license and wholesale arrangements, which feature Victoria's Secret branded beauty and accessories products;

• Victoria's Secret International stores, comprised of company-owned stores in the U.K., as well as stores operated by partners under franchise, license and wholesale arrangements; and

• Bath & Body Works International stores operated by partners under franchise, license and wholesale arrangements.

Other consists of the following:

• Mast Global, a merchandise sourcing and production function serving the Company and its international partners;

• La Senza, comprised of company-owned stores in Canada, as well as stores operated by partners under franchise, license and wholesale arrangements, which feature women's intimate apparel;

• Henri Bendel, operator of 29 specialty stores, which feature handbags, jewelry and other accessory products; and

• Corporate functions including non-core real estate, equity investments and other governance functions such as treasury and tax.

The following table provides the Company’s segment information as of and for the fiscal years ended January 30, 2016, January 31, 2015 and February 1, 2014:

	Victoria’s Secret		Bath & Body Works		Victoria’s Secret and Bath & Body Works International		Other			Total
	(in millions)
January 30, 2016
Net Sales	$	7,672	$	3,587	$	385	$	510		$	12,154
Depreciation and Amortization	218		70		16		111			415
Operating Income (Loss)	1,391		858		88		(145		)	2,192
Total Assets (a)	3,163		1,556		436		3,338			8,493
Capital Expenditures	411		166		33		117			727
January 31, 2015
Net Sales	$	7,207	$	3,350	$	336	$	561		$	11,454
Depreciation and Amortization	198		65		16		119			398
Operating Income (Loss)	1,271		737		78		(133		)	1,953
Total Assets (a) (b)	2,950		1,365		369		2,792			7,476
Capital Expenditures	446		77		37		155			715
February 1, 2014
Net Sales	$	6,884	$	3,118	$	222	$	549		$	10,773
Depreciation and Amortization	175		65		9		119			368
Operating Income (Loss)	1,153		648		38		(96		)	1,743
Total Assets (a) (b)	2,811		1,369		290		2,658			7,128
Capital Expenditures	444		80		33		134			691

________________

(a) Assets are allocated to the operating segments based on decision making authority relevant to the applicable assets.

(b) Amounts have been recast to reflect the retrospective application of ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs and ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes. For additional information, see Note 2, "New Accounting Pronouncements."

The Company’s international sales include sales from company-owned stores, royalty revenue from franchise and license arrangements, wholesale revenues and direct sales shipped internationally. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company's international sales across all segments totaled $1.314 billion in 2015, $1.349 billion in 2014 and $1.212 billion in 2013. The Company’s internationally based long-lived assets were $319 million as of January 30, 2016 and $293 million as of January 31, 2015.