Exhibit 12

L Brands, Inc.

Computation of Ratio of Earnings to Fixed Charges

	Fiscal Year Ended
	January 28, 2017		January 30, 2016		January 31, 2015			February 1, 2014		February 2, 2013
Earnings:	($ in millions)
Income before income taxes,   noncontrolling interest and cumulative   effect of change in accounting principle	$	1,696	$	1,935	$	1,636		$	1,446	$	1,280
Fixed charges (excluding capitalized   interest)	547		471		443			429		426
Distributions from equity method   investments, net of income or loss from   equity investees	12		7		(4		)	49		11
Total earnings	$	2,255	$	2,413	$	2,075		$	1,924	$	1,717
Fixed charges:
Portion of minimum rent   representative of interest	$	153	$	137	$	119		$	114	$	107
Interest on indebtedness (including   capitalized interest)	396		337		326			314		317
Total fixed charges	$	549	$	474	$	445		$	428	$	424
Ratio of earnings to fixed charges	4.1		5.1		4.7			4.5		4.1

For the purpose of calculating the ratios of earnings to fixed charges, we calculate earnings by adding fixed charges and distributions from equity method investees, net of income or losses from equity method investees, to pre-tax income from continuing operations before noncontrolling interests in consolidated subsidiaries and cumulative effect of changes in accounting principle. Fixed charges include total interest and a portion of rent expense, which we believe is representative of the interest factor of our rent expense. Interest associated with income tax liabilities is excluded from our calculation.