Supplemental Guarantor Financial Information Supplemental Guarantor Financial Information (Notes) | 9 Months Ended |
Nov. 02, 2013 |
Supplemental Guarantor Financial Information [Abstract] | ' |
Schedule Of Supplemental Guarantor Financial Information [Text Block] | ' |
Supplemental Guarantor Financial Information |
The Company’s 2019 Notes, 2020 Notes, 2021 Notes, 2022 Notes and 2023 Notes are jointly and severally guaranteed on a full and unconditional basis by certain of the Company’s 100% owned subsidiaries. The Company is a holding company and its most significant assets are the stock of its subsidiaries. The Guarantors represent: (a) substantially all of the sales of the Company’s domestic subsidiaries, (b) more than 90% of the assets owned by the Company’s domestic subsidiaries, other than real property, certain other assets and intercompany investments and balances and (c) more than 95% of the accounts receivable and inventory directly owned by the Company’s domestic subsidiaries. |
The following supplemental financial information sets forth for the Company and its guarantor and non-guarantor subsidiaries: the Condensed Consolidating Balance Sheets as of November 2, 2013, February 2, 2013 and October 27, 2012; and the Condensed Consolidating Statements of Income, Comprehensive Income and Cash Flows for the periods ended November 2, 2013 and October 27, 2012. |
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING BALANCE SHEETS |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| November 2, 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
ASSETS | | | | | | | | | |
Current Assets: | | | | | | | | | |
Cash and Cash Equivalents | $ | — | | | $ | 282 | | | $ | 143 | | | $ | — | | | $ | 425 | |
|
Accounts Receivable, Net | 1 | | | 165 | | | 79 | | | — | | | 245 | |
|
Inventories | — | | | 1,379 | | | 265 | | | (1 | ) | | 1,643 | |
|
Deferred Income Taxes | — | | | 40 | | | (10 | ) | | — | | | 30 | |
|
Other | 2 | | | 147 | | | 89 | | | (1 | ) | | 237 | |
|
Total Current Assets | 3 | | | 2,013 | | | 566 | | | (2 | ) | | 2,580 | |
|
Property and Equipment, Net | — | | | 1,220 | | | 858 | | | — | | | 2,078 | |
|
Goodwill | — | | | 1,318 | | | — | | | — | | | 1,318 | |
|
Trade Names and Other Intangible Assets, Net | — | | | 411 | | | — | | | — | | | 411 | |
|
Net Investments in and Advances to/from Consolidated Affiliates | 4,006 | | | 14,393 | | | 677 | | | (19,076 | ) | | — | |
|
Other Assets | 190 | | | 9 | | | 661 | | | (611 | ) | | 249 | |
|
Total Assets | $ | 4,199 | | | $ | 19,364 | | | $ | 2,762 | | | $ | (19,689 | ) | | $ | 6,636 | |
|
LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | |
Current Liabilities: | | | | | | | | | |
Accounts Payable | $ | — | | | $ | 466 | | | $ | 333 | | | $ | — | | | $ | 799 | |
|
Accrued Expenses and Other | 61 | | | 400 | | | 241 | | | — | | | 702 | |
|
Current Portion of Long-term Debt | 216 | | | — | | | — | | | — | | | 216 | |
|
Income Taxes | — | | | 18 | | | (1 | ) | | — | | | 17 | |
|
Total Current Liabilities | 277 | | | 884 | | | 573 | | | — | | | 1,734 | |
|
Deferred Income Taxes | (4 | ) | | (8 | ) | | 206 | | | — | | | 194 | |
|
Long-term Debt | 4,762 | | | 597 | | | — | | | (597 | ) | | 4,762 | |
|
Other Long-term Liabilities | 3 | | | 570 | | | 207 | | | (14 | ) | | 766 | |
|
Total Equity (Deficit) | (839 | ) | | 17,321 | | | 1,776 | | | (19,078 | ) | | (820 | ) |
|
Total Liabilities and Equity (Deficit) | $ | 4,199 | | | $ | 19,364 | | | $ | 2,762 | | | $ | (19,689 | ) | | $ | 6,636 | |
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING BALANCE SHEETS |
(in millions) |
|
|
| | | | | | | | | | | | | | | | | | | |
| February 2, 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
ASSETS | | | | | | | | | |
Current Assets: | | | | | | | | | |
Cash and Cash Equivalents | $ | — | | | $ | 417 | | | $ | 356 | | | $ | — | | | $ | 773 | |
|
Accounts Receivable, Net | — | | | 140 | | | 63 | | | — | | | 203 | |
|
Inventories | | | | 847 | | | 157 | | | — | | | 1,004 | |
|
Deferred Income Taxes | — | | | 39 | | | (10 | ) | | — | | | 29 | |
|
Other | 2 | | | 117 | | | 77 | | | — | | | 196 | |
|
Total Current Assets | 2 | | | 1,560 | | | 643 | | | — | | | 2,205 | |
|
Property and Equipment, Net | — | | | 1,001 | | | 802 | | | — | | | 1,803 | |
|
Goodwill | — | | | 1,318 | | | — | | | — | | | 1,318 | |
|
Trade Names and Other Intangible Assets, Net | — | | | 411 | | | 1 | | | — | | | 412 | |
|
Net Investments in and Advances to/from Consolidated Affiliates | 3,348 | | | 13,968 | | | 624 | | | (17,940 | ) | | — | |
|
Other Assets | 188 | | | 8 | | | 696 | | | (611 | ) | | 281 | |
|
Total Assets | $ | 3,538 | | | $ | 18,266 | | | $ | 2,766 | | | $ | (18,551 | ) | | $ | 6,019 | |
|
LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | |
Current Liabilities: | | | | | | | | | |
Accounts Payable | $ | — | | | $ | 291 | | | $ | 250 | | | $ | — | | | $ | 541 | |
|
Accrued Expenses and Other | 78 | | | 425 | | | 304 | | | — | | | 807 | |
|
Income Taxes | 1 | | | 134 | | | 55 | | | — | | | 190 | |
|
Total Current Liabilities | 79 | | | 850 | | | 609 | | | — | | | 1,538 | |
|
Deferred Income Taxes | (4 | ) | | (9 | ) | | 213 | | | — | | | 200 | |
|
Long-term Debt | 4,477 | | | 597 | | | — | | | (597 | ) | | 4,477 | |
|
Other Long-term Liabilities | 4 | | | 625 | | | 204 | | | (15 | ) | | 818 | |
|
Total Equity (Deficit) | (1,018 | ) | | 16,203 | | | 1,740 | | | (17,939 | ) | | (1,014 | ) |
|
Total Liabilities and Equity (Deficit) | $ | 3,538 | | | $ | 18,266 | | | $ | 2,766 | | | $ | (18,551 | ) | | $ | 6,019 | |
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING BALANCE SHEETS |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| October 27, 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
ASSETS | | | | | | | | | |
Current Assets: | | | | | | | | | |
Cash and Cash Equivalents | $ | — | | | $ | 226 | | | $ | 321 | | | $ | — | | | $ | 547 | |
|
Accounts Receivable, Net | — | | | 142 | | | 83 | | | — | | | 225 | |
|
Inventories | — | | | 1,231 | | | 215 | | | — | | | 1,446 | |
|
Deferred Income Taxes | — | | | 34 | | | 16 | | | — | | | 50 | |
|
Other | — | | | 158 | | | 59 | | | — | | | 217 | |
|
Total Current Assets | — | | | 1,791 | | | 694 | | | — | | | 2,485 | |
|
Property and Equipment, Net | — | | | 1,036 | | | 805 | | | — | | | 1,841 | |
|
Goodwill | — | | | 1,318 | | | 12 | | | — | | | 1,330 | |
|
Trade Names and Other Intangible Assets, Net | — | | | 410 | | | 84 | | | — | | | 494 | |
|
Net Investments in and Advances to/from Consolidated Affiliates | 3,898 | | | 13,889 | | | 913 | | | (18,700 | ) | | — | |
|
Other Assets | 190 | | | 45 | | | 690 | | | (648 | ) | | 277 | |
|
Total Assets | $ | 4,088 | | | $ | 18,489 | | | $ | 3,198 | | | $ | (19,348 | ) | | $ | 6,427 | |
|
LIABILITIES AND EQUITY (DEFICIT) | | | | | | | | | |
Current Liabilities: | | | | | | | | | |
Accounts Payable | $ | — | | | $ | 451 | | | $ | 281 | | | $ | — | | | $ | 732 | |
|
Accrued Expenses and Other | 77 | | | 396 | | | 244 | | | — | | | 717 | |
|
Current Portion of Long-term Debt | 57 | | | — | | | — | | | — | | | 57 | |
|
Income Taxes | — | | | — | | | 6 | | | — | | | 6 | |
|
Total Current Liabilities | 134 | | | 847 | | | 531 | | | — | | | 1,512 | |
|
Deferred Income Taxes | (5 | ) | | (3 | ) | | 182 | | | — | | | 174 | |
|
Long-term Debt | 4,478 | | | 597 | | | 37 | | | (634 | ) | | 4,478 | |
|
Other Long-term Liabilities | 3 | | | 592 | | | 197 | | | (14 | ) | | 778 | |
|
Total Equity (Deficit) | (522 | ) | | 16,456 | | | 2,251 | | | (18,700 | ) | | (515 | ) |
|
Total Liabilities and Equity (Deficit) | $ | 4,088 | | | $ | 18,489 | | | $ | 3,198 | | | $ | (19,348 | ) | | $ | 6,427 | |
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Third Quarter 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Sales | $ | — | | | $ | 2,026 | | | $ | 845 | | | $ | (700 | ) | | $ | 2,171 | |
|
Costs of Goods Sold, Buying and Occupancy | — | | | (1,319 | ) | | (664 | ) | | 669 | | | (1,314 | ) |
|
Gross Profit | — | | | 707 | | | 181 | | | (31 | ) | | 857 | |
|
General, Administrative and Store Operating Expenses | (1 | ) | | (569 | ) | | (106 | ) | | 30 | | | (646 | ) |
|
Operating Income (Loss) | (1 | ) | | 138 | | | 75 | | | (1 | ) | | 211 | |
|
Interest Expense | (76 | ) | | (7 | ) | | (2 | ) | | 9 | | | (76 | ) |
|
Other Income | — | | | — | | | 7 | | | — | | | 7 | |
|
Income (Loss) Before Income Taxes | (77 | ) | | 131 | | | 80 | | | 8 | | | 142 | |
|
Provision for Income Taxes | — | | | 27 | | | 23 | | | — | | | 50 | |
|
Equity in Earnings (Loss) | 169 | | | (23 | ) | | (88 | ) | | (58 | ) | | — | |
|
Net Income (Loss) | $ | 92 | | | $ | 81 | | | $ | (31 | ) | | $ | (50 | ) | | $ | 92 | |
|
| | | | | | | | | |
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Third Quarter 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Income (Loss) | $ | 92 | | | $ | 81 | | | $ | (31 | ) | | $ | (50 | ) | | $ | 92 | |
|
Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | |
Reclassification of Cash Flow Hedges to Earnings | — | | | — | | | (2 | ) | | — | | | (2 | ) |
|
Foreign Currency Translation | — | | | — | | | 5 | | | — | | | 5 | |
|
Unrealized Gain on Cash Flow Hedges | — | | | — | | | 3 | | | — | | | 3 | |
|
Total Other Comprehensive Income, Net of Tax | — | | | — | | | 6 | | | — | | | 6 | |
|
Total Comprehensive Income (Loss) | $ | 92 | | | $ | 81 | | | $ | (25 | ) | | $ | (50 | ) | | $ | 98 | |
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Third Quarter 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Sales | $ | — | | | $ | 1,872 | | | $ | 690 | | | $ | (512 | ) | | $ | 2,050 | |
|
Costs of Goods Sold, Buying and Occupancy | — | | | (1,135 | ) | | (573 | ) | | 483 | | | (1,225 | ) |
|
Gross Profit | — | | | 737 | | | 117 | | | (29 | ) | | 825 | |
|
General, Administrative and Store Operating Expenses | (1 | ) | | (572 | ) | | (94 | ) | | 29 | | | (638 | ) |
|
Operating Income (Loss) | (1 | ) | | 165 | | | 23 | | | — | | | 187 | |
|
Interest Expense | (77 | ) | | (4 | ) | | (2 | ) | | 6 | | | (77 | ) |
|
Other Income | — | | | — | | | 18 | | | — | | | 18 | |
|
Income (Loss) Before Income Taxes | (78 | ) | | 161 | | | 39 | | | 6 | | | 128 | |
|
Provision for Income Taxes | — | | | 28 | | | 26 | | | — | | | 54 | |
|
Equity in Earnings (Loss) | 152 | | | (39 | ) | | 109 | | | (222 | ) | | — | |
|
Net Income (Loss) | $ | 74 | | | $ | 94 | | | $ | 122 | | | $ | (216 | ) | | $ | 74 | |
|
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
(in millions) |
(Unaudited) |
|
|
|
| | | | | | | | | | | | | | | | | | | |
| Third Quarter 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Income (Loss) | $ | 74 | | | $ | 94 | | | $ | 122 | | | $ | (216 | ) | | $ | 74 | |
|
Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | |
Reclassification of Cash Flow Hedges to Earnings | — | | | — | | | 4 | | | — | | | 4 | |
|
Foreign Currency Translation | — | | | — | | | — | | | — | | | — | |
|
Unrealized Gain (Loss) on Cash Flow Hedges | — | | | — | | | (6 | ) | | — | | | (6 | ) |
|
Total Other Comprehensive Income (Loss), Net of Tax | — | | | — | | | (2 | ) | | — | | | (2 | ) |
|
Total Comprehensive Income (Loss) | $ | 74 | | | $ | 94 | | | $ | 120 | | | $ | (216 | ) | | $ | 72 | |
|
|
|
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Sales | $ | — | | | $ | 6,385 | | | $ | 2,386 | | | $ | (1,816 | ) | | $ | 6,955 | |
|
Costs of Goods Sold, Buying and Occupancy | — | | | (3,980 | ) | | (1,923 | ) | | 1,735 | | | (4,168 | ) |
|
Gross Profit | — | | | 2,405 | | | 463 | | | (81 | ) | | 2,787 | |
|
General, Administrative and Store Operating Expenses | (4 | ) | | (1,682 | ) | | (304 | ) | | 83 | | | (1,907 | ) |
|
Operating Income (Loss) | (4 | ) | | 723 | | | 159 | | | 2 | | | 880 | |
|
Interest Expense | (232 | ) | | (19 | ) | | (8 | ) | | 27 | | | (232 | ) |
|
Other Income | — | | | — | | | 11 | | | — | | | 11 | |
|
Income (Loss) Before Income Taxes | (236 | ) | | 704 | | | 162 | | | 29 | | | 659 | |
|
Provision for Income Taxes | — | | | 130 | | | 116 | | | — | | | 246 | |
|
Equity in Earnings (Loss) | 649 | | | 297 | | | 225 | | | (1,171 | ) | | — | |
|
Net Income (Loss) | $ | 413 | | | $ | 871 | | | $ | 271 | | | $ | (1,142 | ) | | $ | 413 | |
|
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Income (Loss) | $ | 413 | | | $ | 871 | | | $ | 271 | | | $ | (1,142 | ) | | $ | 413 | |
|
Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | |
Reclassification of Cash Flow Hedges to Earnings | — | | | — | | | (21 | ) | | — | | | (21 | ) |
|
Foreign Currency Translation | — | | | — | | | 17 | | | — | | | 17 | |
|
Unrealized Gain on Cash Flow Hedges | — | | | — | | | 19 | | | — | | | 19 | |
|
Total Other Comprehensive Income, Net of Tax | — | | | — | | | 15 | | | — | | | 15 | |
|
Total Comprehensive Income (Loss) | $ | 413 | | | $ | 871 | | | $ | 286 | | | $ | (1,142 | ) | | $ | 428 | |
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF INCOME |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Sales | $ | — | | | $ | 6,056 | | | $ | 1,997 | | | $ | (1,450 | ) | | $ | 6,603 | |
|
Costs of Goods Sold, Buying and Occupancy | — | | | (3,639 | ) | | (1,681 | ) | | 1,386 | | | (3,934 | ) |
|
Gross Profit | — | | | 2,417 | | | 316 | | | (64 | ) | | 2,669 | |
|
General, Administrative and Store Operating Expenses | (4 | ) | | (1,672 | ) | | (273 | ) | | 65 | | | (1,884 | ) |
|
Operating Income (Loss) | (4 | ) | | 745 | | | 43 | | | 1 | | | 785 | |
|
Interest Expense | (234 | ) | | (14 | ) | | (7 | ) | | 21 | | | (234 | ) |
|
Other Income (Loss) | — | | | (1 | ) | | 20 | | | — | | | 19 | |
|
Income (Loss) Before Income Taxes | (238 | ) | | 730 | | | 56 | | | 22 | | | 570 | |
|
Provision for Income Taxes | — | | | 140 | | | 88 | | | — | | | 228 | |
|
Equity in Earnings (Loss) | 580 | | | (67 | ) | | 171 | | | (684 | ) | | — | |
|
Net Income (Loss) | $ | 342 | | | $ | 523 | | | $ | 139 | | | $ | (662 | ) | | $ | 342 | |
|
|
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME |
(in millions) |
(Unaudited) |
|
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Income (Loss) | $ | 342 | | | $ | 523 | | | $ | 139 | | | $ | (662 | ) | | $ | 342 | |
|
Other Comprehensive Income (Loss), Net of Tax: | | | | | | | | | |
|
Reclassification of Cash Flow Hedges to Earnings | 2 | | | — | | | 3 | | | — | | | 5 | |
|
Foreign Currency Translation | — | | | — | | | 1 | | | — | | | 1 | |
|
Unrealized Gain on Cash Flow Hedges | — | | | — | | | 1 | | | — | | | 1 | |
|
Total Other Comprehensive Income, Net of Tax | 2 | | | — | | | 5 | | | — | | | 7 | |
|
Total Comprehensive Income (Loss) | $ | 344 | | | $ | 523 | | | $ | 144 | | | $ | (662 | ) | | $ | 349 | |
|
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L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2013 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Cash Provided by (Used for) Operating Activities | $ | (253 | ) | | $ | 164 | | | $ | 58 | | | $ | — | | | $ | (31 | ) |
|
Investing Activities: | | | | | | | | | |
Capital Expenditures | — | | | (417 | ) | | (181 | ) | | — | | | (598 | ) |
|
Return of Capital from Third-party Apparel Sourcing Investment | — | | | — | | | 46 | | | — | | | 46 | |
|
Other Investing Activities | — | | | — | | | 3 | | | — | | | 3 | |
|
Net Cash Used for Investing Activities | — | | | (417 | ) | | (132 | ) | | — | | | (549 | ) |
|
Financing Activities: | | | | | | | | | |
Proceeds from Long-term Debt, Net of Issuance Costs | 495 | | | — | | | — | | | — | | | 495 | |
|
Borrowings from Revolving Facility | 290 | | | — | | | — | | | — | | | 290 | |
|
Repayments on Revolving Facility | (290 | ) | | — | | | — | | | — | | | (290 | ) |
|
Repurchase of Common Stock | (55 | ) | | — | | | — | | | — | | | (55 | ) |
|
Dividends Paid | (261 | ) | | — | | | — | | | — | | | (261 | ) |
|
Excess Tax Benefits from Share-based Compensation | — | | | 25 | | | 6 | | | — | | | 31 | |
|
Net Financing Activities and Advances to/from Consolidated Affiliates | 52 | | | 93 | | | (145 | ) | | — | | | — | |
|
Proceeds from Exercise of Stock Options and Other | 22 | | | — | | | — | | | — | | | 22 | |
|
Net Cash Provided by (Used for) Financing Activities | 253 | | | 118 | | | (139 | ) | | — | | | 232 | |
|
Effects of Exchange Rate Changes on Cash and Cash Equivalents | — | | | — | | | — | | | — | | | — | |
|
Net Decrease in Cash and Cash Equivalents | — | | | (135 | ) | | (213 | ) | | — | | | (348 | ) |
|
Cash and Cash Equivalents, Beginning of Period | — | | | 417 | | | 356 | | | — | | | 773 | |
|
Cash and Cash Equivalents, End of Period | $ | — | | | $ | 282 | | | $ | 143 | | | $ | — | | | $ | 425 | |
|
|
L BRANDS, INC. |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS |
(in millions) |
(Unaudited) |
|
|
| | | | | | | | | | | | | | | | | | | |
| Year-to-Date 2012 |
| L Brands, Inc. | | Guarantor | | Non- | | Eliminations | | Consolidated |
Subsidiaries | guarantor | L Brands, Inc. |
| Subsidiaries | |
Net Cash Provided by (Used for) Operating Activities | $ | (282 | ) | | $ | 206 | | | $ | 151 | | | $ | — | | | $ | 75 | |
|
Investing Activities: | | | | | | | | | |
Capital Expenditures | — | | | (311 | ) | | (180 | ) | | — | | | (491 | ) |
|
Other Investing Activities | — | | | 17 | | | 3 | | | — | | | 20 | |
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Net Cash Used for Investing Activities | — | | | (294 | ) | | (177 | ) | | — | | | (471 | ) |
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Financing Activities: | | | | | | | | | |
Proceeds from Long-term Debt, Net of Issuance Costs | 985 | | | — | | | — | | | — | | | 985 | |
|
Repurchase of Common Stock | (616 | ) | | — | | | — | | | — | | | (616 | ) |
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Dividends Paid | (507 | ) | | — | | | — | | | — | | | (507 | ) |
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Excess Tax Benefits from Share-based Compensation | — | | | 83 | | | 20 | | | — | | | 103 | |
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Net Financing Activities and Advances to/from Consolidated Affiliates | 378 | | | (140 | ) | | (238 | ) | | — | | | — | |
|
Proceeds from Exercise of Stock Options and Other | 42 | | | — | | | — | | | — | | | 42 | |
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Net Cash Provided by (Used for) Financing Activities | 282 | | | (57 | ) | | (218 | ) | | — | | | 7 | |
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Effects of Exchange Rate Changes on Cash and Cash Equivalents | — | | | — | | | 1 | | | — | | | 1 | |
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Net Decrease in Cash and Cash Equivalents | — | | | (145 | ) | | (243 | ) | | — | | | (388 | ) |
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Cash and Cash Equivalents, Beginning of Period | — | | | 371 | | | 564 | | | — | | | 935 | |
|
Cash and Cash Equivalents, End of Period | $ | — | | | $ | 226 | | | $ | 321 | | | $ | — | | | $ | 547 | |
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