Discontinued Operations (Tables)

12 Months Ended

Jan. 28, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Consideration and Costs Recognized Pursuant to Transition Service Agreements

The following table summarizes the consideration received and costs recognized pursuant to the Transition Service Agreements recorded in the Consolidated Statements of Income:

	2022		2021
	(in millions)
Consideration Received	$	74	$	42
Costs Recognized	72		55

Summary of Consideration Recognized Pursuant to Domestic Transportation Service Agreements

The following table summarizes the consideration received pursuant to the Domestic Transportation Services Agreement recorded in the Consolidated Statements of Income:

	2022		2021
	(in millions)
Consideration Received	$	91	$	46

Summary of Discontinued Operations in Financial Statements

The following table summarizes the significant line items included in Income (Loss) from Discontinued Operations, Net of Tax in the Consolidated Statements of Income:

	2022		2021		2020
	(in millions)
Net Sales	$	—	$	3,194	$	5,413
Costs of Goods Sold, Buying and Occupancy	—		(1,841)		(3,842)
General, Administrative and Store Operating Expenses (a)	—		(975)		(1,595)
Interest Expense	—		(2)		(6)
Other Loss	—		(3)		—
Income (Loss) from Discontinued Operations Before Income Taxes	—		373		(30)
Provision (Benefit) for Income Taxes (b)	(6)		115		(9)
Income (Loss) from Discontinued Operations, Net of Tax	$	6	$	258	$	(21)

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(a)Fiscal 2021 includes Separation-related fees of $104 million. Prior to the Separation, these fees were reported in the Other category under the Company's previous segment reporting.

(b)Fiscal 2022 includes an adjustment to the previously recorded tax expense related to the Separation.

The following table summarizes significant non-cash operating items, Capital Expenditures and Financing Activities of discontinued operations included in the 2021 and 2020 Consolidated Statements of Cash Flows:

	2021		2020
	(in millions)
Significant Non-cash Operating Items:
Depreciation of Long-lived Assets	$	158	$	326
Share-based Compensation Expense	15		25
Deferred Income Taxes	3		16
Victoria's Secret Asset Impairment Charges	—		254
Gain from Victoria's Secret Hong Kong Store Closure and Lease Termination	—		(39)
Gain Related to Formation of Victoria's Secret U.K. Joint Venture	—		(54)
Capital Expenditures	(66)		(127)
Net Repayments of Victoria's Secret Foreign Facilities	—		(155)