Bath & Body Works (BBWI) 10-Q2 Jun 172017 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Apr. 29, 2017	May 26, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 29, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	LB
Entity Registrant Name	L Brands, Inc.
Entity Central Index Key	701,985
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		286,843,179

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Millions	3 Months Ended
Consolidated Statements Of Income - USD ($) $ in Millions	Apr. 29, 2017	Apr. 30, 2016
Income Statement [Abstract]
Net Sales	$ 2,437	$ 2,614
Costs of Goods Sold, Buying and Occupancy	(1,534)	(1,571)
Gross Profit	903	1,043
General, Administrative and Store Operating Expenses	(694)	(720)
Operating Income	209	323
Interest Expense	(101)	(97)
Other Income	10	7
Income Before Income Taxes	118	233
Provision for Income Taxes	24	81
Net Income	$ 94	$ 152
Net Income Per Basic Share	$ 0.33	$ 0.53
Net Income Per Diluted Share	0.33	0.52
Dividends Per Share	$ 0.60	$ 2.60

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Net Income	$ 94	$ 152
Other Comprehensive Income (Loss), Net of Tax:
Reclassification of Cash Flow Hedges to Earnings	(6)	14
Foreign Currency Translation	3	8
Unrealized Gain (Loss) on Cash Flow Hedges	9	(16)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	0	(1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(3)
Total Other Comprehensive Income (Loss), Net of Tax	6	2
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 100	$ 154

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Current Assets:
Cash and Cash Equivalents	$ 1,555	$ 1,934	$ 1,267
Accounts Receivable, Net	213	294	249
Inventories	1,147	1,096	1,266
Other	237	141	209
Total Current Assets	3,152	3,465	2,991
Property and Equipment, Net	2,761	2,741	2,423
Goodwill	1,348	1,348	1,348
Trade Names and Other Intangible Assets, Net	411	411	411
Deferred Tax Assets, Net, Noncurrent	23	19	29
Other Assets	187	186	224
Total Assets	7,882	8,170	7,426
Current Liabilities:
Accounts Payable	664	683	720
Accrued Expenses and Other	813	997	833
Debt, Current	44	36	8
Accrued Income Taxes, Current	310	298	44
Total Current Liabilities	1,831	2,014	1,605
Deferred Income Taxes	360	352	269
Long-term Debt	5,702	5,700	5,718
Other Long-term Liabilities	824	831	920
Shareholders’ Equity (Deficit):
Preferred Stock - $1.00 par value; 10 shares authorized; none issued	0	0	0
Common Stock - $0.50 par value; 1,000 shares authorized; 317, 315 and 314 shares issued; 286, 286 and 288 shares outstanding, respectively	159	157	157
Paid-in Capital	695	650	572
Accumulated Other Comprehensive Income	18	12	42
Retained Earnings (Accumulated Deficit)	128	205	(283)
Less: Treasury Stock, at Average Cost; 31, 29 and 26 shares, respectively	(1,836)	(1,753)	(1,575)
Total L Brands, Inc. Shareholders’ Equity (Deficit)	(836)	(729)	(1,087)
Noncontrolling Interest	1	2	1
Total Equity (Deficit)	(835)	(727)	(1,086)
Total Liabilities and Equity (Deficit)	$ 7,882	$ 8,170	$ 7,426

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Preferred Stock, Par Value	$ 1	$ 1	$ 1
Preferred Stock, Shares Authorized	10	10	10
Preferred Stock, Shares Issued	0	0	0
Common Stock, Par Value	$ 0.50	$ 0.50	$ 0.50
Common Stock, Shares Authorized	1,000	1,000	1,000
Common Stock, Shares, Issued	317	315	314
Common Stock, Shares, Outstanding	286	286	288
Treasury Stock, Shares	31	29	26

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Operating Activities:
Net Income	$ 94	$ 152
Depreciation, Amortization and Accretion, Net	142	121
Adjustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities:
Amortization of Landlord Allowances	(12)	(11)
Deferred Income Taxes	5	15
Share-based Compensation Expense	25	21
Gain (Loss) on Equity Method Investment Dividends Or Distributions	(9)	0
Marketable Securities, Realized Gain (Loss), Excluding Other than Temporary Impairments	0	(4)
Changes in Assets and Liabilities, Net of Assets and Liabilities from Acquisition:
Accounts Receivable	80	3
Inventories	(52)	(135)
Accounts Payable, Accrued Expenses and Other	(200)	(102)
Income Taxes Payable	11	(148)
Other Assets and Liabilities	(77)	45
Net Cash Provided by (Used for) Operating Activities	7	(43)
Investing Activities:
Capital Expenditures	(165)	(187)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	10	1
Proceeds from Sale and Maturity of Marketable Securities	0	10
Payments to Acquire Businesses, Net of Cash Acquired	0	(31)
Other Investing Activities	0	(2)
Net Cash Provided by (Used for) Investing Activities	(155)	(205)
Financing Activities:
Proceeds from Long-term Lines of Credit	9	6
Repayments of Lines of Credit	(1)	0
Payments of Dividends	(172)	(750)
Repurchases of Common Stock	(85)	(260)
Tax Payments related to Share-based Awards	(17)	(40)
Proceeds from Exercise of Stock Options	36	10
Proceeds from (Payments for) Other Financing Activities	0	(1)
Net Cash Provided by (Used for) Financing Activities	(230)	(1,035)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(1)	2
Net Increase (Decrease) in Cash and Cash Equivalents	(379)	(1,281)
Cash and Cash Equivalents, Beginning of Period	1,934	2,548
Cash and Cash Equivalents, End of Period	$ 1,555	$ 1,267

Description Of Business And Bas

Description Of Business And Basis Of Presentation	3 Months Ended
Description Of Business And Basis Of Presentation	Apr. 29, 2017
Description Of Business And Basis Of Presentation [Abstract]
Description Of Business And Basis Of Presentation	Description of Business and Basis of Presentation Description of Business L Brands, Inc. (“the Company”) operates in the highly competitive specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, personal care, beauty and home fragrance products. The Company sells its merchandise through company-owned specialty retail stores in the United States (“U.S.”), Canada, United Kingdom (“U.K.”) and Greater China (China and Hong Kong), and through its websites and other channels. The Company's other international operations are primarily through franchise, license and wholesale partners. The Company currently operates the following retail brands: • Victoria’s Secret • PINK • Bath & Body Works • La Senza • Henri Bendel Fiscal Year The Company’s fiscal year ends on the Saturday nearest to January 31. As used herein, “ first quarter of 2017 ” and “ first quarter of 2016 ” refer to the thirteen week periods ending April 29, 2017 and April 30, 2016 , respectively. Basis of Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company accounts for investments in unconsolidated entities where it exercises significant influence, but does not have control, using the equity method. Under the equity method of accounting, the Company recognizes its share of the investee's net income or loss. Losses are only recognized to the extent the Company has positive carrying value related to the investee. Carrying values are only reduced below zero if the Company has an obligation to provide funding to the investee. The Company’s share of net income or loss of unconsolidated entities from which the Company purchases merchandise or merchandise components is included in Costs of Goods Sold, Buying and Occupancy on the Consolidated Statements of Income. The Company’s share of net income or loss of all other unconsolidated entities is included in Other Income on the Consolidated Statements of Income. The Company’s equity method investments are required to be tested for impairment when it is determined there may be an other-than-temporary loss in value. Interim Financial Statements The Consolidated Financial Statements as of and for the periods ended April 29, 2017 and April 30, 2016 are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto contained in the Company’s 2016 Annual Report on Form 10-K. In the opinion of management, the accompanying Consolidated Financial Statements reflect all adjustments which are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods. Seasonality of Business Due to seasonal variations in the retail industry, the results of operations for any interim period are not necessarily indicative of the results expected for the full fiscal year. Concentration of Credit Risk and Investments The Company maintains cash and cash equivalents and derivative contracts with various major financial institutions. The Company monitors the relative credit standing of financial institutions with whom the Company transacts and limits the amount of credit exposure with any one entity. Typically, the Company’s investment portfolio is primarily comprised of U.S. government obligations, U.S. Treasury and AAA-rated money market funds, commercial paper and bank deposits. The Company also periodically reviews the relative credit standing of franchise, license and wholesale partners and other entities to which the Company grants credit terms in the normal course of business. The Company records an allowance for uncollectable accounts when it becomes probable that the counterparty will be unable to pay. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the financial statements. Actual results may differ from those estimates, and the Company revises its estimates and assumptions as new information becomes available.

New Accounting Pronouncement (N

New Accounting Pronouncement (Notes)	3 Months Ended
New Accounting Pronouncement (Notes)	Apr. 29, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	New Accounting Pronouncements Share-Based Compensation In the first quarter of 2017, the Company adopted Accounting Standards Update (“ASU”) No. 2016-09, Improvements to Employee Share-Based Payment Accounting . On a prospective basis, this standard requires recognition of the income tax effects of share-based awards in the income statement when the awards vest or are exercised. These effects were historically recorded in equity on the balance sheet. As a result, the Company recognized $11 million of excess tax benefits related to share-based awards in Provision for Income Taxes in the first quarter 2017 Consolidated Statement of Income. The standard also requires all tax-related cash flows from share-based awards to be reported as operating activities on the statements of cash flows and any cash payments made to taxing authorities on an employee's behalf from withheld shares as financing activities. For the first quarter of 2016, the retrospective application of these changes resulted in a $71 million increase in operating cash flows and a corresponding decrease to financing cash flows. Further, as allowed by the standard, the Company will continue to estimate award forfeitures at the time awards are granted and adjust, if necessary, in subsequent periods based on historical experience and expected future termination rates. Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers , which was further clarified and amended in 2015 and 2016. This guidance requires companies to recognize revenue in a manner that depicts the transfer of promised goods or services to customers in amounts that reflect the consideration to which a company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This guidance will be effective beginning in fiscal 2018, with early adoption as of fiscal 2017 permitted. The standard allows for either a full retrospective or a modified retrospective transition method. The Company continues to evaluate the impacts of this standard. The most significant changes to current accounting relate to the points earned under the Victoria's Secret customer loyalty program and the accounting for sales returns. The new standard will require a deferral of revenue associated with loyalty points using a relative stand-alone selling price method and will also require sales returns to be presented on a gross basis with the sales refund liability presented separately from the return asset. The Company is continuing to evaluate the further impacts the standard will have on the Consolidated Statements of Income and Comprehensive Income, Balance Sheets and Statements of Cash Flows. The Company will adopt the standard in the first quarter of fiscal 2018 and is currently evaluating the transition method. Leases In February 2016, the FASB issued ASC 842, Leases . This guidance requires companies classified as lessees to put most leases on their balance sheets but recognize expenses on their income statements in a manner similar to today’s accounting. The new standard also will result in enhanced quantitative and qualitative disclosures, including significant judgments made by management, to provide greater insight into the extent of revenue and expense recognized and expected to be recognized from existing leases. The standard requires modified retrospective adoption and will be effective beginning in fiscal 2019, with early adoption permitted. The Company is currently evaluating the impacts that this standard will have on its Consolidated Statements of Income and Comprehensive Income, Balance Sheets and Statements of Cash Flows, including period of adoption. The Company currently expects that most of its operating lease commitments will be subject to the new standard and recognized as operating lease liabilities and right-of-use assets upon adoption. Thus, the Company expects adoption will result in a material increase to the assets and liabilities on the Consolidated Balance Sheet.

Earnings Per Share And Sharehol

Earnings Per Share And Shareholders' Equity	3 Months Ended
Earnings Per Share And Shareholders' Equity	Apr. 29, 2017
Earnings Per Share And Shareholders' Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Earnings Per Share and Shareholders’ Equity (Deficit) Earnings Per Share Earnings per basic share is computed based on the weighted-average number of outstanding common shares. Earnings per diluted share include the weighted-average effect of dilutive options and restricted stock on the weighted-average shares outstanding. The following table provides shares utilized for the calculation of basic and diluted earnings per share for the first quarter of 2017 and 2016 : First Quarter 2017 2016 (in millions) Weighted-average Common Shares: Issued Shares 316 313 Treasury Shares (30 ) (25 ) Basic Shares 286 288 Effect of Dilutive Options and Restricted Stock 3 5 Diluted Shares 289 293 Anti-dilutive Options and Awards (a) 5 2 _______________ (a) These options and awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. Shareholders’ Equity (Deficit) Common Stock Share Repurchases Under the authority of the Company’s Board of Directors, the Company repurchased shares of its common stock under the following repurchase programs for the first quarter of 2017 and 2016 : Amount Authorized Shares Repurchased Amount Repurchased Average Stock Price of Shares Repurchased within Program Repurchase Program 2017 2016 2017 2016 2017 2016 (in millions) (in thousands) (in millions) February 2017 $ 250 1,570 NA $ 80 NA $ 50.92 NA February 2016 $ 500 51 3,125 3 $ 260 $ 58.95 $ 83.26 Total 1,621 3,125 $ 83 $ 260 In the first quarter of 2017, the Company's Board of Directors approved a new $250 million share repurchase program, which included the $59 million remaining under the February 2016 repurchase program. In the first quarter of 2016, the Company's Board of Directors approved a $500 million share repurchase program, which included $17 million remaining under the June 2015 repurchase program. The February 2017 repurchase program had $170 million remaining as of April 29, 2017 . Subsequent to April 29, 2017 , the Company repurchased an additional 0.2 million shares of common stock for $11 million under this program. There were $1 million and $3 million of share repurchases reflected in Accounts Payable on the April 29, 2017 and January 28, 2017 Consolidated Balance Sheets, respectively. There were no share repurchases reflected in Accounts Payable on the April 30, 2016 Consolidated Balance Sheet. Dividends Under the authority and declaration of the Board of Directors, the Company paid the following dividends during the first quarter of 2017 and 2016 : Ordinary Dividends Special Dividends Total Dividends Total Paid (per share) (in millions) 2017 First Quarter $ 0.60 $ — $ 0.60 $ 172 2016 First Quarter $ 0.60 $ 2.00 $ 2.60 $ 750

Acquisition Acquisition (Notes)

Acquisition Acquisition (Notes)	3 Months Ended
Acquisition Acquisition (Notes)	Apr. 29, 2017
Acquisition [Abstract]
Acquisition	Acquisition On April 18, 2016 , the Company completed the acquisition of 100% of the shares of American Beauty Limited for a total purchase price of $44 million . This agreement included the reacquisition of the franchise rights from one of our partners to operate Victoria's Secret Beauty and Accessories stores in Greater China, including 26 stores already open at the time of acquisition. The purchase price included $10 million in forgiveness of liabilities owed to the Company from the pre-existing relationship. As a result of this acquisition, the Company's financial statements include the financial results of American Beauty Limited, which are reported as part of the Victoria's Secret and Bath & Body Works International segment. The total purchase price was allocated to the net tangible and intangible assets acquired based on their estimated fair value. Such estimated fair values require management to make estimates and judgments, especially with respect to intangible assets. The allocation of the purchase price to goodwill was complete as of the second quarter of 2016. Goodwill related to the acquisition is not deductible for tax purposes. The allocation of the purchase price to the fair value of assets acquired and liabilities assumed is as follows: (in millions) Cash and Cash Equivalents $ 1 Inventories 3 Property and Equipment 10 Goodwill 30 Other Assets 3 Current Liabilities (3 ) Net Assets Acquired $ 44 Forgiveness of Liabilities Owed to the Company (10 ) Consideration Paid $ 34

Restructuring Activities (Notes

Restructuring Activities (Notes)	3 Months Ended
Restructuring Activities (Notes)	Apr. 29, 2017
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities During the first quarter of 2016, the Company made strategic changes within the Victoria’s Secret segment designed to focus the brand on its core merchandise categories, streamline operations and emphasize brand building and loyalty-enhancing marketing and advertising rather than using traditional catalogues and offers. As a result of these actions, the Company recorded charges related to cancellations of fabric commitments for non-go forward merchandise and a reserve against paper that was previously intended for future catalogues. These costs, totaling $11 million , including non-cash charges of $10 million , are included in Cost of Goods Sold, Buying and Occupancy on the 2016 Consolidated Statement of Income. These actions also resulted in the elimination of approximately 200 positions primarily in the Company's Ohio and New York home offices. Severance and related costs associated with these eliminations, totaling $24 million , are included in General, Administrative and Store Operating Expenses on the 2016 Consolidated Statement of Income. The Company recognized a total pre-tax charge of $35 million for these items in the first quarter of 2016. The remaining liability for unpaid severance and related costs was insignificant as of April 29, 2017 .

Inventories

Inventories	3 Months Ended
Inventories	Apr. 29, 2017
Inventory, Net [Abstract]
Inventories	Inventories The following table provides details of inventories as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Finished Goods Merchandise $ 1,049 $ 982 $ 1,157 Raw Materials and Merchandise Components 98 114 109 Total Inventories $ 1,147 $ 1,096 $ 1,266 Inventories are principally valued at the lower of cost, as determined by the weighted-average cost method, or net realizable value.

Property And Equipment, Net

Property And Equipment, Net	3 Months Ended
Property And Equipment, Net	Apr. 29, 2017
Property, Plant and Equipment [Abstract]
Property And Equipment, Net	Property and Equipment, Net The following table provides details of property and equipment, net as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Property and Equipment, at Cost $ 6,354 $ 6,282 $ 5,818 Accumulated Depreciation and Amortization (3,593 ) (3,541 ) (3,395 ) Property and Equipment, Net $ 2,761 $ 2,741 $ 2,423 Depreciation expense was $142 million and $121 million for the first quarter of 2017 and 2016 , respectively.

Equity Investments And Other

Equity Investments And Other	3 Months Ended
Equity Investments And Other	Apr. 29, 2017
Equity Method Investment, Summarized Financial Information [Abstract]
Equity Investments And Other	Equity Investments and Other Easton Investments The Company has land and other investments in Easton, a planned community in Columbus, Ohio, that integrates office, hotel, retail, residential and recreational space. These investments, totaling $79 million as of April 29, 2017 and January 28, 2017 , and $82 million as of April 30, 2016 , and are recorded in Other Assets on the Consolidated Balance Sheets. Included in the Company’s Easton investments is an equity interest in Easton Town Center, LLC (“ETC”) and Easton Gateway, LLC (“EG”), entities that own and have developed commercial entertainment and shopping centers. The Company’s investments in ETC and EG are accounted for using the equity method of accounting. The Company has a majority financial interest in ETC and EG, but another unaffiliated member manages them, and certain significant decisions regarding ETC and EG require the consent of unaffiliated members in addition to the Company.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Apr. 29, 2017
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income Taxes	Income Taxes The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. The Company’s quarterly effective tax rate does not reflect a benefit associated with losses related to certain foreign subsidiaries. For the first quarter of 2017 , the Company’s effective tax rate was 20.6% compared to 34.6% in the first quarter of 2016 . The first quarter 2017 rate was lower than the Company's combined federal and state statutory rate primarily due to the recognition of excess tax benefits recorded through the income statement on stock options exercised in the quarter. In the first quarter of 2017, the Company adopted the new share-based compensation standard that requires prospective recognition of excess tax benefits in the income statement when awards vests or are exercised. The first quarter 2016 rate was lower than the Company’s combined federal and state statutory rate primarily due to the resolution of certain tax matters. As of April 29, 2017 , any unrecognized deferred income tax liability resulting from the Company's undistributed foreign earnings from non-U.S. subsidiaries is not expected to reverse in the foreseeable future; furthermore, the undistributed foreign earnings are permanently reinvested. If the Company elects to distribute these foreign earnings in the future, they could be subject to additional income taxes. Determination of the amount of any unrecognized deferred income tax liability on these undistributed foreign earnings is not practicable because such liability, if any, is dependent on circumstances existing if and when remittance occurs. Income taxes paid were approximately $15 million and $227 million for the first quarter of 2017 and 2016 , respectively.

Long-term Debt

Long-term Debt	3 Months Ended
Long-term Debt	Apr. 29, 2017
Long-term Debt, by Current and Noncurrent [Abstract]
Long-term Debt	Long-term Debt The following table provides the Company’s debt balance, net of debt issuance costs and unamortized discounts, as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Senior Unsecured Debt with Subsidiary Guarantee $1 billion, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”) $ 989 $ 989 $ 989 $1 billion, 5.625% Fixed Interest Rate Notes due February 2022 (“2022 Notes”) 993 992 991 $1 billion, 6.625% Fixed Interest Rate Notes due April 2021 (“2021 Notes”) 993 992 991 $700 million, 6.75% Fixed Interest Rate Notes due July 2036 (“2036 Notes”) 692 692 — $500 million, 5.625% Fixed Interest Rate Notes due October 2023 (“2023 Notes”) 497 497 496 $500 million, 8.50% Fixed Interest Rate Notes due June 2019 (“2019 Notes”)(a) 496 496 499 $400 million, 7.00% Fixed Interest Rate Notes due May 2020 (“2020 Notes”) 397 397 396 Total Senior Unsecured Debt with Subsidiary Guarantee $ 5,057 $ 5,055 $ 4,362 Senior Unsecured Debt $350 million, 6.95% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”) $ 348 $ 348 $ 348 $300 million, 7.60% Fixed Interest Rate Notes due July 2037 (“2037 Notes”) 297 297 297 $700 million, 6.90% Fixed Interest Rate Notes due July 2017 (“2017 Notes”)(b) — — 706 Foreign Facilities 44 36 13 Total Senior Unsecured Debt $ 689 $ 681 $ 1,364 Total $ 5,746 $ 5,736 $ 5,726 Current Portion of Long-term Debt (44 ) (36 ) (8 ) Total Long-term Debt, Net of Current Portion $ 5,702 $ 5,700 $ 5,718 ________________ (a) The balances include a fair value interest rate hedge adjustment which increased the debt balance by $2 million as of April 29, 2017 , $2 million as of January 28, 2017 and $8 million as of April 30, 2016 . (b) The balance includes a fair value interest rate hedge adjustment which increased the debt balance by $7 million as of April 30, 2016 . Issuance of Notes In June 2016, the Company issued $700 million of 6.75% notes due in July 2036. The obligation to pay principal and interest on these notes is jointly and severally guaranteed on a full and unconditional basis by certain of the Company's 100% owned subsidiaries (the “Guarantors”). The proceeds from the issuance were $692 million , which were net of issuance costs of $8 million . These issuance costs are being amortized through the maturity date of July 2036 and are included within Long-term Debt on the April 29, 2017 and January 28, 2017 Consolidated Balance Sheets. Repurchase of Notes In July 2016, the Company used the proceeds from the 2036 Notes to repurchase the $700 million 2017 Notes for $742 million . In the second quarter of 2016, the Company recognized a pre-tax loss on extinguishment of this debt of $36 million (after-tax net loss of $22 million ), which is net of gains of $7 million related to terminated interest rate swaps associated with the 2017 Notes. Revolving Facility As of April 29, 2017 , the Company maintained a secured revolving credit facility (“Revolving Facility”) with aggregate availability of $1 billion . The fees related to committed and unutilized amounts are 0.30% per annum, and the fees related to outstanding letters of credit are 1.50% per annum. In addition, the interest rate on outstanding U.S. dollar borrowings or British pound borrowings is London Interbank Offered Rate (“LIBOR”) plus 1.50% per annum. The interest rate on outstanding Canadian dollar borrowings is Canadian Dollar Offered Rate (“CDOR”) plus 1.50% per annum. The Revolving Facility contains fixed charge coverage and debt to EBITDA financial covenants. The Company is required to maintain a fixed charge coverage ratio of not less than 1.75 to 1.00 and a consolidated debt to consolidated EBITDA ratio not exceeding 4.00 to 1.00 for the most recent four-quarter period. In addition, the Revolving Facility provides that investments and restricted payments may be made, without limitation on amount, if (a) at the time of and after giving effect to such investment or restricted payment, the ratio of consolidated debt to consolidated EBITDA for the most recent four-quarter period is less than 3.00 to 1.00 and (b) no default or event of default exists. As of April 29, 2017 , the Company was in compliance with both of its financial covenants, and the ratio of consolidated debt to consolidated EBITDA was less than 3.00 to 1.00 . As of April 29, 2017 , there were no borrowings outstanding under the Revolving Facility. The Revolving Facility supports the Company’s letter of credit program. The Company had $8 million of outstanding letters of credit as of April 29, 2017 that reduced its remaining availability under the Revolving Facility. Subsequent to April 29, 2017 , the Company entered into an amendment and restatement (“Amendment”) of the Revolving Facility. The Amendment maintains the aggregate availability under the Revolving Facility at $1 billion and extends the termination date from July 18, 2019 to May 11, 2022. The Amendment allows certain of the Company's non-U.S. subsidiaries to borrow and obtain letters of credit in U.S. dollars, Canadian dollars, Euros, Hong Kong dollars or British pounds. In addition, the Amendment reduced the commitment fees payable under the Revolving Facility, which are based on the Company's long-term credit rating, to 0.25% per annum. The Amendment did not modify the Company's quantitative covenant requirements, but did provide an increased limit on restricted payments in the event the Company does not meet the aforementioned criteria to make these payments without limitation and provides greater flexibility in respect of the Company’s ability to grant liens on assets. Foreign Facilities In addition to the Revolving Facility, the Company maintains various revolving and term loan bank facilities with availability totaling $100 million to support its foreign operations (“Foreign Facilities”). Current borrowings on these Foreign Facilities mature between May 8, 2017 and February 28, 2018 . The interest rates on outstanding borrowings are based upon the applicable benchmark rate for the currency of each borrowing. During the first quarter of 2017 , the Company borrowed $9 million and made payments of $1 million under the Foreign Facilities. The maximum daily amount outstanding at any point in time during the first quarter of 2017 was $44 million . Interest Rate Swap Arrangements For information related to the Company’s fair value interest rate swap arrangements, see Note 11 , “Derivative Financial Instruments.”

Derivative Instruments

Derivative Instruments	3 Months Ended
Derivative Instruments	Apr. 29, 2017
Summary of Derivative Instruments [Abstract]
Derivative Instruments	Derivative Financial Instruments Foreign Exchange Derivative Instruments The Company's Canadian dollar and British pound denominated earnings are subject to exchange rate risk as substantially all of its merchandise sold in Canada and the U.K. is sourced through U.S. dollar transactions. As a result, the Company uses foreign currency forward contracts designated as cash flow hedges to mitigate this foreign currency exposure. These forward contracts currently have a maximum term of 18 months. Amounts are reclassified from accumulated other comprehensive income (loss) upon sale of the hedged merchandise to the customer. These gains and losses are recognized in Cost of Goods Sold, Buying and Occupancy on the Consolidated Statements of Income. The Company has a cross-currency swap related to an intercompany loan of approximately CAD $170 million maturing in January 2018 which is designated as a cash flow hedge of foreign currency exchange risk. This cross-currency swap mitigates the exposure to fluctuations in the U.S. dollar-Canadian dollar exchange rate related to the Company's Canadian operations. The cross-currency swap requires the periodic exchange of fixed-rate Canadian dollar interest payments for fixed-rate U.S. dollar interest payments as well as exchange of Canadian dollar and U.S. dollar principal payments upon maturity. Changes in the U.S. dollar-Canadian dollar exchange rate and the related swap settlements result in reclassification of amounts from accumulated other comprehensive income (loss) to earnings to completely offset foreign currency transaction gains and losses recognized on the intercompany loan. The Company uses foreign currency forward contracts to manage the impact of fluctuations in foreign currency exchange rates relative to recognized payable balances denominated in non-functional currencies. The fair value of these non-designated foreign currency forward contracts is not significant as of April 29, 2017 . The following table provides the U.S. dollar notional amount of outstanding foreign currency derivative financial instruments as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Notional Amount $ 362 $ 360 $ 147 The following table provides a summary of the fair value and balance sheet classification of outstanding derivative financial instruments designated as foreign currency cash flow hedges as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Other Current Assets $ 27 $ 18 $ — Accrued Expenses and Other 1 1 — Other Long-term Assets — — 11 The following table provides a summary of the pre-tax financial statement effect of the gains and losses on derivative financial instruments designated as foreign currency cash flow hedges for the first quarter 2017 and 2016 : First Quarter 2017 2016 (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) $ 10 $ (16 ) (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Cost of Goods Sold, Buying and Occupancy Expense (a) (2 ) — (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Other Income (b) (5 ) 14 ________________ (a) Represents reclassification of amounts from accumulated other comprehensive income (loss) to earnings when the hedged merchandise is sold to the customer. No ineffectiveness was associated with these foreign currency cash flow hedges. (b) Represents reclassification of amounts from accumulated other comprehensive income (loss) to earnings to completely offset foreign currency transaction gains and losses recognized on the intercompany loan. No ineffectiveness was associated with this foreign currency cash flow hedge. We estimate that $4 million of gains included in accumulated other comprehensive income (loss) as of April 29, 2017 related to foreign currency forward contracts designated as cash flow hedges will be reclassified into earnings within the following 12 months. Actual amounts ultimately reclassified depend on the exchange rates in effect when derivative contracts that are currently outstanding mature. Interest Rate Derivative Instruments The Company has interest rate swap arrangements related to $300 million of the outstanding 2019 Notes that are designated as interest rate fair value hedges. The interest rate swap arrangements effectively convert the fixed interest rate on the related debt to a variable interest rate based on LIBOR plus a fixed percentage. The changes in the fair value of the interest rate swaps have an equal and offsetting impact to the carrying value of the debt on the balance sheet. The differential to be paid or received on the interest rate swap arrangements is accrued and recognized as an adjustment to interest expense. In the past, the Company had entered into interest rate swap arrangements on the 2017 Notes. In the second quarter of 2016, the Company terminated its interest rate designated fair value hedges in conjunction with the repurchase of the 2017 Notes. The following table provides a summary of the fair value and balance sheet classification of the derivative financial instruments designated as interest rate fair value hedges as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Other Long-term Assets $ 2 $ 2 $ 10

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Apr. 29, 2017
Fair Value Measurements [Abstract]
Fair Value Measurements	Fair Value Measurements The following table provides a summary of the principal value and estimated fair value of long-term debt, excluding foreign facility borrowings, as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Principal Value $ 5,750 $ 5,750 $ 5,750 Fair Value (a) 5,992 6,030 6,372 _______________ (a) The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC Topic 820, Fair Value Measurement . The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The authoritative guidance included in ASC Topic 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 – Quoted market prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted market prices included in Level 1, such as quoted prices of similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table provides a summary of assets and liabilities measured in the consolidated financial statements at fair value on a recurring basis as of April 29, 2017 , January 28, 2017 and April 30, 2016 : Level 1 Level 2 Level 3 Total (in millions) As of April 29, 2017 Assets: Cash and Cash Equivalents $ 1,555 $ — $ — $ 1,555 Marketable Securities 5 — — 5 Interest Rate Fair Value Hedges — 2 — 2 Foreign Currency Cash Flow Hedges — 27 — 27 Liabilities: Foreign Currency Cash Flow Hedges — 1 — 1 As of January 28, 2017 Assets: Cash and Cash Equivalents $ 1,934 $ — $ — $ 1,934 Marketable Securities 5 — — 5 Interest Rate Fair Value Hedges — 2 — 2 Foreign Currency Cash Flow Hedges — 18 — 18 Liabilities: Foreign Currency Cash Flow Hedges — 1 — 1 As of April 30, 2016 Assets: Cash and Cash Equivalents $ 1,267 $ — $ — $ 1,267 Marketable Securities 11 — — 11 Interest Rate Fair Value Hedges — 10 — 10 Foreign Currency Cash Flow Hedges — 11 — 11 The Company's Level 1 fair value measurements use unadjusted quoted prices in active markets for identical assets. In the first quarter of 2016, the Company sold a portion of its marketable securities, which are classified as available-for-sale, for $10 million and recognized a pre-tax gain of $4 million (after-tax gain of $3 million ). The gain is included within Other Income in the 2016 Consolidated Statement of Income, and the cash proceeds are included in Proceeds from Sale of Marketable Securities within the Investing Activities section of the 2016 Consolidated Statement of Cash Flows. These securities are classified as Level 1 fair value measurements as they are traded with sufficient frequency and volume to enable the Company to obtain pricing information on an ongoing basis. The Company’s Level 2 fair value measurements use market approach valuation techniques. The primary inputs to these techniques include benchmark interest rates and foreign currency exchange rates, as applicable to the underlying instruments. Management believes that the carrying values of accounts receivable, accounts payable, accrued expenses and current debt approximate fair value because of their short maturity.

Comprehensive Income

Comprehensive Income	3 Months Ended
Comprehensive Income	Apr. 29, 2017
Comprehensive Income
Comprehensive Income	Comprehensive Income The following table provides the rollforward of accumulated other comprehensive income (loss) for the first quarter 2017 : Foreign Currency Translation Cash Flow Hedges Marketable Securities Accumulated Other Comprehensive Income (Loss) (in millions) Balance as of January 28, 2017 $ 9 $ 3 $ — $ 12 Other Comprehensive Income (Loss) Before Reclassifications 3 10 — 13 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — (7 ) — (7 ) Tax Effect — — — — Current-period Other Comprehensive Income (Loss) 3 3 — 6 Balance as of April 29, 2017 $ 12 $ 6 $ — $ 18 The following table provides the rollforward of accumulated other comprehensive income (loss) for the first quarter 2016 : Foreign Currency Translation Cash Flow Hedges Marketable Securities Accumulated Other Comprehensive Income (Loss) (in millions) Balance as of January 30, 2016 $ 28 $ 4 $ 8 $ 40 Other Comprehensive Income (Loss) Before Reclassifications 8 (16 ) (2 ) (10 ) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — 14 (4 ) 10 Tax Effect — — 2 2 Current-period Other Comprehensive Income (Loss) 8 (2 ) (4 ) 2 Balance as of April 30, 2016 $ 36 $ 2 $ 4 $ 42 The following table provides a summary of the reclassification adjustments out of accumulated other comprehensive income (loss) for the first quarter of 2017 and 2016 : Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Location on Consolidated Statements of Income First Quarter 2017 2016 (in millions) (Gain) Loss on Cash Flow Hedges $ (2 ) $ — Cost of Goods Sold, Buying and Occupancy (5 ) 14 Other Income 1 — Provision for Income Taxes $ (6 ) $ 14 Net Income Sale of Available-for-Sale Securities $ — $ (4 ) Other Income — 1 Provision for Income Taxes $ — $ (3 ) Net Income

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
Commitments And Contingencies	Apr. 29, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	Commitments and Contingencies The Company is subject to various claims and contingencies related to lawsuits, taxes, insurance, regulatory and other matters arising out of the normal course of business. Actions filed against the Company from time to time include commercial, tort, intellectual property, customer, employment, data privacy, securities and other claims, including purported class action lawsuits. Management believes that the ultimate liability arising from such claims and contingencies, if any, is not likely to have a material adverse effect on the Company’s results of operations, financial condition or cash flows. Guarantees In connection with the disposition of certain businesses, the Company has remaining guarantees of approximately $13 million related to lease payments under the current terms of noncancellable leases expiring at various dates through 2021 . These guarantees include minimum rent and additional payments covering taxes, common area costs and certain other expenses and relate to leases that commenced prior to the disposition of the businesses. In certain instances, the Company’s guarantee may remain in effect if the term of a lease is extended. The Company has not recorded a liability with respect to these guarantee obligations as of April 29, 2017 , January 28, 2017 or April 30, 2016 as it concluded that payments under these guarantees were not probable. In connection with the sale and leaseback under noncancellable operating leases of certain assets, the Company provides residual value guarantees to the lessor if the leased assets cannot be sold for an amount in excess of a specified minimum value at the conclusion of the lease term. The leases expire at various dates through 2021, and the total amount of the guarantees is approximately $133 million . The Company recorded a liability of less than $1 million as of April 29, 2017 , a liability of $1 million as of January 28, 2017 and a liability of $3 million as of April 30, 2016 related to these guarantee obligations, which are included in Other Long-term Liabilities on the Consolidated Balance Sheets. Additionally, the Company recorded a liability of $9 million related to the early lease termination of one of these assets, which is included in Accrued Expenses and Other on the April 29, 2017 Consolidated Balance Sheet.

Retirement Benefits

Retirement Benefits	3 Months Ended
Retirement Benefits	Apr. 29, 2017
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The Company sponsors a tax-qualified defined contribution retirement plan and a non-qualified supplemental retirement plan for substantially all of its associates within the U.S. Participation in the tax-qualified plan is available to associates who meet certain age and service requirements. Participation in the non-qualified plan is available to associates who meet certain age, service, job level and compensation requirements. The qualified plan permits participating associates to elect contributions up to the maximum limits allowable under the Internal Revenue Code. The Company matches associate contributions according to a predetermined formula and contributes additional amounts based on a percentage of the associates’ eligible annual compensation and years of service. Associate contributions and Company matching contributions vest immediately. Additional Company contributions and the related investment earnings are subject to vesting based on years of service. Total expense recognized related to the qualified plan was $16 million for the first quarter of 2017 and $17 million for the first quarter of 2016 . The non-qualified plan is an unfunded plan which provides benefits beyond the Internal Revenue Code limits for qualified defined contribution plans. The plan permits participating associates to elect contributions up to a maximum percentage of eligible compensation. The Company matches associate contributions according to a predetermined formula and contributes additional amounts based on a percentage of the associates’ eligible compensation and years of service. The plan also permits participating associates to defer additional compensation up to a maximum amount which the Company does not match. Associates’ accounts are credited with interest using a fixed rate determined by the Company and reviewed by the Compensation Committee of the Board of Directors, prior to the beginning of each year. Associate contributions and the related interest vest immediately. Company contributions, along with related interest, are subject to vesting based on years of service. Associates may elect in-service distributions for the unmatched additional deferred compensation component only. The remaining vested portion of associates’ accounts in the plan will be distributed upon termination of employment in either a lump sum or in annual installments over a specified period of up to 10 years. Total expense recognized related to the non-qualified plan was $4 million for the first quarter of 2017 and $7 million for the first quarter of 2016 .

Segment Information

Segment Information	3 Months Ended
Segment Information	Apr. 29, 2017
Segment Reporting [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, home fragrance products, soaps and sanitizers under the Bath & Body Works, White Barn, 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 International, comprised of company-owned stores in the U.K. and Greater China, as well as stores operated by partners under franchise, and license and wholesale arrangements; and • Victoria's Secret Beauty and Accessories, comprised of company-owned stores in Greater China, as well as stores operated by partners under franchise, license and wholesale arrangements, which feature Victoria's Secret branded beauty and accessories products; • 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 the U.S. and Canada, as well as stores operated by partners under franchise and license 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 for the first quarter of 2017 and 2016 : Victoria’s Secret Bath & Body Works Victoria’s Secret and Bath & Body Works International Other Total (in millions) 2017 First Quarter: Net Sales $ 1,533 $ 678 $ 104 $ 122 $ 2,437 Operating Income (Loss) 159 102 (1 ) (51 ) 209 2016 First Quarter: Net Sales $ 1,741 $ 660 $ 95 $ 118 $ 2,614 Operating Income (Loss) 235 112 13 (37 ) 323 The Company's international net 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 net sales across all segments totaled $299 million and $295 million for the first quarter of 2017 and 2016 , respectively.

Subsequent Event (Notes)

Subsequent Event (Notes)	3 Months Ended
Subsequent Event (Notes)	Apr. 29, 2017
Subsequent Event [Line Items]
Subsequent Events [Text Block]	Subsequent Events Subsequent to April 29, 2017 , the Company repurchased an additional 0.2 million shares of common stock for $11 million under the February 2017 repurchase program. For additional information, see Note 3 , “Earnings Per Share and Shareholders' Equity (Deficit).” Subsequent to April 29, 2017 , the Company entered into an amendment and restatement of the Revolving Facility. For additional information, see Note 10 , “Long-term Debt.”

Supplemental Guarantor Financia

Supplemental Guarantor Financial Information Supplemental Guarantor Financial Information (Notes)	3 Months Ended
	Apr. 29, 2017
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, 2023 Notes, 2035 Notes and 2036 Notes are jointly and severally guaranteed on a full and unconditional basis by the Guarantors. 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 April 29, 2017 , January 28, 2017 and April 30, 2016 and the Condensed Consolidating Statements of Income, Comprehensive Income and Cash Flows for the periods ended April 29, 2017 and April 30, 2016 . 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 and Other Intangible Assets, Net — 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 Portion of Long-term 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) January 28, 2017 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. ASSETS Current Assets: Cash and Cash Equivalents $ — $ 1,562 $ 372 $ — $ 1,934 Accounts Receivable, Net — 228 66 — 294 Inventories — 976 120 — 1,096 Other — 53 88 — 141 Total Current Assets — 2,819 646 — 3,465 Property and Equipment, Net — 1,897 844 — 2,741 Goodwill — 1,318 30 — 1,348 Trade Names and Other Intangible Assets, Net — 411 — — 411 Net Investments in and Advances to/from Consolidated Affiliates 4,923 15,824 1,350 (22,097 ) — Deferred Income Taxes — 10 9 — 19 Other Assets 130 28 639 (611 ) 186 Total Assets $ 5,053 $ 22,307 $ 3,518 $ (22,708 ) $ 8,170 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts Payable $ 3 $ 326 $ 354 $ — $ 683 Accrued Expenses and Other 100 526 371 — 997 Current Portion of Long-term Debt — — 36 — 36 Income Taxes (11 ) 221 88 — 298 Total Current Liabilities 92 1,073 849 — 2,014 Deferred Income Taxes (3 ) (93 ) 448 — 352 Long-term Debt 5,700 597 — (597 ) 5,700 Other Long-term Liabilities 3 761 81 (14 ) 831 Total Equity (Deficit) (739 ) 19,969 2,140 (22,097 ) (727 ) Total Liabilities and Equity (Deficit) $ 5,053 $ 22,307 $ 3,518 $ (22,708 ) $ 8,170 L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (in millions) (Unaudited) April 30, 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. ASSETS Current Assets: Cash and Cash Equivalents $ — $ 888 $ 379 $ — $ 1,267 Accounts Receivable, Net 2 189 58 — 249 Inventories — 1,121 145 — 1,266 Other — 121 88 — 209 Total Current Assets 2 2,319 670 — 2,991 Property and Equipment, Net — 1,627 796 — 2,423 Goodwill — 1,318 30 — 1,348 Trade Names and Other Intangible Assets, Net — 411 — — 411 Net Investments in and Advances to/from Consolidated Affiliates 4,551 14,752 1,363 (20,666 ) — Deferred Income Taxes — 11 18 — 29 Other Assets 140 37 658 (611 ) 224 Total Assets $ 4,693 $ 20,475 $ 3,535 $ (21,277 ) $ 7,426 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts Payable $ 1 $ 387 $ 332 $ — $ 720 Accrued Expenses and Other 110 432 291 — 833 Current Portion of Long-term Debt — — 8 — 8 Income Taxes — 13 31 — 44 Total Current Liabilities 111 832 662 — 1,605 Deferred Income Taxes (3 ) (76 ) 348 — 269 Long-term Debt 5,713 598 5 (598 ) 5,718 Other Long-term Liabilities — 705 229 (14 ) 920 Total Equity (Deficit) (1,128 ) 18,416 2,291 (20,665 ) (1,086 ) Total Liabilities and Equity (Deficit) $ 4,693 $ 20,475 $ 3,535 $ (21,277 ) $ 7,426 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 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 L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF INCOME (in millions) (Unaudited) First Quarter 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Sales $ — $ 2,472 $ 858 $ (716 ) $ 2,614 Costs of Goods Sold, Buying and Occupancy — (1,539 ) (711 ) 679 (1,571 ) Gross Profit — 933 147 (37 ) 1,043 General, Administrative and Store Operating Expenses (3 ) (639 ) (113 ) 35 (720 ) Operating Income (Loss) (3 ) 294 34 (2 ) 323 Interest Expense (97 ) (9 ) (2 ) 11 (97 ) Other Income — 1 6 — 7 Income (Loss) Before Income Taxes (100 ) 286 38 9 233 Provision for Income Taxes — 62 19 — 81 Equity in Earnings (Loss), Net of Tax 252 62 68 (382 ) — Net Income (Loss) $ 152 $ 286 $ 87 $ (373 ) $ 152 L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) First Quarter 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Income (Loss) $ 152 $ 286 $ 87 $ (373 ) $ 152 Other Comprehensive Income (Loss), Net of Tax: Foreign Currency Translation — — 8 — 8 Unrealized Loss on Cash Flow Hedges — — (16 ) — (16 ) Reclassification of Cash Flow Hedges to Earnings — — 14 — 14 Unrealized Loss on Marketable Securities — — (1 ) — (1 ) Reclassification of Gain on Marketable Securities to Earnings — — (3 ) — (3 ) Total Other Comprehensive Income (Loss), Net of Tax — — 2 — 2 Total Comprehensive Income (Loss) $ 152 $ 286 $ 89 $ (373 ) $ 154 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 on Foreign Facilities — — (1 ) — (1 ) Dividends Paid (172 ) — — — (172 ) Repurchases of Common Stock (85 ) — — — (85 ) Tax Payments related to Share-based Awards (17 ) — — — (17 ) Net Financing Activities and Advances to/from Consolidated Affiliates 334 (401 ) 67 — — Proceeds from Exercise of Stock Options 36 — — — 36 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 L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) (Unaudited) Year-to-Date 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Cash Provided by (Used for) Operating Activities $ (47 ) $ (25 ) $ 29 $ — $ (43 ) Investing Activities: Capital Expenditures — (140 ) (47 ) — (187 ) Return of Capital from Easton Investments — — 1 — 1 Acquisition, Net of Cash Acquired of $1 — — (31 ) — (31 ) Proceeds from Sale of Marketable Securities — — 10 — 10 Other Investing Activities — 2 — — 2 Net Cash Used for Investing Activities — (138 ) (67 ) — (205 ) Financing Activities: Borrowings from Foreign Facilities — — 6 — 6 Dividends Paid (750 ) — — — (750 ) Repurchases of Common Stock (260 ) — — — (260 ) Tax Payments related to Share-based Awards (40 ) — — — (40 ) Net Financing Activities and Advances to/from Consolidated Affiliates 1,087 (1,138 ) 51 — — Proceeds from Exercise of Stock Options 10 — — — 10 Financing Costs and Other — (1 ) — — (1 ) Net Cash Provided by (Used for) Financing Activities 47 (1,139 ) 57 — (1,035 ) Effects of Exchange Rate Changes on Cash and Cash Equivalents — — 2 — 2 Net Increase (Decrease) in Cash and Cash Equivalents — (1,302 ) 21 — (1,281 ) Cash and Cash Equivalents, Beginning of Period — 2,190 358 — 2,548 Cash and Cash Equivalents, End of Period $ — $ 888 $ 379 $ — $ 1,267

Description Of Business And B25

Description Of Business And Basis Of Presentation (Policy)	3 Months Ended
Description Of Business And Basis Of Presentation (Policy)	Apr. 29, 2017
Description Of Business And Basis Of Presentation [Abstract]
Inventory, Policy [Policy Text Block]	Inventories are principally valued at the lower of cost, as determined by the weighted-average cost method, or net realizable value.
Description Of Business	Description of Business L Brands, Inc. (“the Company”) operates in the highly competitive specialty retail business. The Company is a specialty retailer of women’s intimate and other apparel, personal care, beauty and home fragrance products. The Company sells its merchandise through company-owned specialty retail stores in the United States (“U.S.”), Canada, United Kingdom (“U.K.”) and Greater China (China and Hong Kong), and through its websites and other channels. The Company's other international operations are primarily through franchise, license and wholesale partners. The Company currently operates the following retail brands: • Victoria’s Secret • PINK • Bath & Body Works • La Senza • Henri Bendel
Fiscal Year	Fiscal Year The Company’s fiscal year ends on the Saturday nearest to January 31. As used herein, “ first quarter of 2017 ” and “ first quarter of 2016 ” refer to the thirteen week periods ending April 29, 2017 and April 30, 2016 , respectively.
Basis Of Consolidation	Basis of Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company accounts for investments in unconsolidated entities where it exercises significant influence, but does not have control, using the equity method. Under the equity method of accounting, the Company recognizes its share of the investee's net income or loss. Losses are only recognized to the extent the Company has positive carrying value related to the investee. Carrying values are only reduced below zero if the Company has an obligation to provide funding to the investee. The Company’s share of net income or loss of unconsolidated entities from which the Company purchases merchandise or merchandise components is included in Costs of Goods Sold, Buying and Occupancy on the Consolidated Statements of Income. The Company’s share of net income or loss of all other unconsolidated entities is included in Other Income on the Consolidated Statements of Income. The Company’s equity method investments are required to be tested for impairment when it is determined there may be an other-than-temporary loss in value.
Interim Financial Statements	Interim Financial Statements The Consolidated Financial Statements as of and for the periods ended April 29, 2017 and April 30, 2016 are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto contained in the Company’s 2016 Annual Report on Form 10-K. In the opinion of management, the accompanying Consolidated Financial Statements reflect all adjustments which are of a normal recurring nature and necessary for a fair presentation of the results for the interim periods.
Seasonality Of Business	Seasonality of Business Due to seasonal variations in the retail industry, the results of operations for any interim period are not necessarily indicative of the results expected for the full fiscal year.
Concentration Of Credit Risk	Concentration of Credit Risk and Investments The Company maintains cash and cash equivalents and derivative contracts with various major financial institutions. The Company monitors the relative credit standing of financial institutions with whom the Company transacts and limits the amount of credit exposure with any one entity. Typically, the Company’s investment portfolio is primarily comprised of U.S. government obligations, U.S. Treasury and AAA-rated money market funds, commercial paper and bank deposits. The Company also periodically reviews the relative credit standing of franchise, license and wholesale partners and other entities to which the Company grants credit terms in the normal course of business. The Company records an allowance for uncollectable accounts when it becomes probable that the counterparty will be unable to pay.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period, as well as the related disclosure of contingent assets and liabilities at the date of the financial statements. Actual results may differ from those estimates, and the Company revises its estimates and assumptions as new information becomes available.
New Accounting Pronouncements	New Accounting Pronouncements Share-Based Compensation In the first quarter of 2017, the Company adopted Accounting Standards Update (“ASU”) No. 2016-09, Improvements to Employee Share-Based Payment Accounting . On a prospective basis, this standard requires recognition of the income tax effects of share-based awards in the income statement when the awards vest or are exercised. These effects were historically recorded in equity on the balance sheet. As a result, the Company recognized $11 million of excess tax benefits related to share-based awards in Provision for Income Taxes in the first quarter 2017 Consolidated Statement of Income. The standard also requires all tax-related cash flows from share-based awards to be reported as operating activities on the statements of cash flows and any cash payments made to taxing authorities on an employee's behalf from withheld shares as financing activities. For the first quarter of 2016, the retrospective application of these changes resulted in a $71 million increase in operating cash flows and a corresponding decrease to financing cash flows. Further, as allowed by the standard, the Company will continue to estimate award forfeitures at the time awards are granted and adjust, if necessary, in subsequent periods based on historical experience and expected future termination rates. Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers , which was further clarified and amended in 2015 and 2016. This guidance requires companies to recognize revenue in a manner that depicts the transfer of promised goods or services to customers in amounts that reflect the consideration to which a company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This guidance will be effective beginning in fiscal 2018, with early adoption as of fiscal 2017 permitted. The standard allows for either a full retrospective or a modified retrospective transition method. The Company continues to evaluate the impacts of this standard. The most significant changes to current accounting relate to the points earned under the Victoria's Secret customer loyalty program and the accounting for sales returns. The new standard will require a deferral of revenue associated with loyalty points using a relative stand-alone selling price method and will also require sales returns to be presented on a gross basis with the sales refund liability presented separately from the return asset. The Company is continuing to evaluate the further impacts the standard will have on the Consolidated Statements of Income and Comprehensive Income, Balance Sheets and Statements of Cash Flows. The Company will adopt the standard in the first quarter of fiscal 2018 and is currently evaluating the transition method. Leases In February 2016, the FASB issued ASC 842, Leases . This guidance requires companies classified as lessees to put most leases on their balance sheets but recognize expenses on their income statements in a manner similar to today’s accounting. The new standard also will result in enhanced quantitative and qualitative disclosures, including significant judgments made by management, to provide greater insight into the extent of revenue and expense recognized and expected to be recognized from existing leases. The standard requires modified retrospective adoption and will be effective beginning in fiscal 2019, with early adoption permitted. The Company is currently evaluating the impacts that this standard will have on its Consolidated Statements of Income and Comprehensive Income, Balance Sheets and Statements of Cash Flows, including period of adoption. The Company currently expects that most of its operating lease commitments will be subject to the new standard and recognized as operating lease liabilities and right-of-use assets upon adoption. Thus, the Company expects adoption will result in a material increase to the assets and liabilities on the Consolidated Balance Sheet.

Earnings Per Share And Shareh26

Earnings Per Share And Shareholders' Equity (Tables)	3 Months Ended
Earnings Per Share And Shareholders' Equity (Tables)	Apr. 29, 2017
Earnings Per Share And Shareholders' Equity [Abstract]
Shares Utilized For The Calculation Of Basic And Diluted Earnings Per Share	The following table provides shares utilized for the calculation of basic and diluted earnings per share for the first quarter of 2017 and 2016 : First Quarter 2017 2016 (in millions) Weighted-average Common Shares: Issued Shares 316 313 Treasury Shares (30 ) (25 ) Basic Shares 286 288 Effect of Dilutive Options and Restricted Stock 3 5 Diluted Shares 289 293 Anti-dilutive Options and Awards (a) 5 2 _______________ (a) These options and awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.
Schedule Of Company's Repurchase Program	Under the authority of the Company’s Board of Directors, the Company repurchased shares of its common stock under the following repurchase programs for the first quarter of 2017 and 2016 : Amount Authorized Shares Repurchased Amount Repurchased Average Stock Price of Shares Repurchased within Program Repurchase Program 2017 2016 2017 2016 2017 2016 (in millions) (in thousands) (in millions) February 2017 $ 250 1,570 NA $ 80 NA $ 50.92 NA February 2016 $ 500 51 3,125 3 $ 260 $ 58.95 $ 83.26 Total 1,621 3,125 $ 83 $ 260
Schedule Of Dividends Paid	Under the authority and declaration of the Board of Directors, the Company paid the following dividends during the first quarter of 2017 and 2016 : Ordinary Dividends Special Dividends Total Dividends Total Paid (per share) (in millions) 2017 First Quarter $ 0.60 $ — $ 0.60 $ 172 2016 First Quarter $ 0.60 $ 2.00 $ 2.60 $ 750

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
Acquisition (Tables)	Apr. 29, 2017
Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The allocation of the purchase price to the fair value of assets acquired and liabilities assumed is as follows: (in millions) Cash and Cash Equivalents $ 1 Inventories 3 Property and Equipment 10 Goodwill 30 Other Assets 3 Current Liabilities (3 ) Net Assets Acquired $ 44 Forgiveness of Liabilities Owed to the Company (10 ) Consideration Paid $ 34

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Apr. 29, 2017
Inventory, Net [Abstract]
Summary Of Inventories	The following table provides details of inventories as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Finished Goods Merchandise $ 1,049 $ 982 $ 1,157 Raw Materials and Merchandise Components 98 114 109 Total Inventories $ 1,147 $ 1,096 $ 1,266

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	3 Months Ended
Property And Equipment, Net (Tables)	Apr. 29, 2017
Property, Plant and Equipment [Abstract]
Summary Of Property And Equipment, Net	The following table provides details of property and equipment, net as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Property and Equipment, at Cost $ 6,354 $ 6,282 $ 5,818 Accumulated Depreciation and Amortization (3,593 ) (3,541 ) (3,395 ) Property and Equipment, Net $ 2,761 $ 2,741 $ 2,423

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
Long-term Debt (Tables)	Apr. 29, 2017
Long-term Debt, by Current and Noncurrent [Abstract]
Schedule Of Long-term Debt Instruments	The following table provides the Company’s debt balance, net of debt issuance costs and unamortized discounts, as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Senior Unsecured Debt with Subsidiary Guarantee $1 billion, 6.875% Fixed Interest Rate Notes due November 2035 (“2035 Notes”) $ 989 $ 989 $ 989 $1 billion, 5.625% Fixed Interest Rate Notes due February 2022 (“2022 Notes”) 993 992 991 $1 billion, 6.625% Fixed Interest Rate Notes due April 2021 (“2021 Notes”) 993 992 991 $700 million, 6.75% Fixed Interest Rate Notes due July 2036 (“2036 Notes”) 692 692 — $500 million, 5.625% Fixed Interest Rate Notes due October 2023 (“2023 Notes”) 497 497 496 $500 million, 8.50% Fixed Interest Rate Notes due June 2019 (“2019 Notes”)(a) 496 496 499 $400 million, 7.00% Fixed Interest Rate Notes due May 2020 (“2020 Notes”) 397 397 396 Total Senior Unsecured Debt with Subsidiary Guarantee $ 5,057 $ 5,055 $ 4,362 Senior Unsecured Debt $350 million, 6.95% Fixed Interest Rate Debentures due March 2033 (“2033 Notes”) $ 348 $ 348 $ 348 $300 million, 7.60% Fixed Interest Rate Notes due July 2037 (“2037 Notes”) 297 297 297 $700 million, 6.90% Fixed Interest Rate Notes due July 2017 (“2017 Notes”)(b) — — 706 Foreign Facilities 44 36 13 Total Senior Unsecured Debt $ 689 $ 681 $ 1,364 Total $ 5,746 $ 5,736 $ 5,726 Current Portion of Long-term Debt (44 ) (36 ) (8 ) Total Long-term Debt, Net of Current Portion $ 5,702 $ 5,700 $ 5,718 ________________ (a) The balances include a fair value interest rate hedge adjustment which increased the debt balance by $2 million as of April 29, 2017 , $2 million as of January 28, 2017 and $8 million as of April 30, 2016 . (b) The balance includes a fair value interest rate hedge adjustment which increased the debt balance by $7 million as of April 30, 2016 .

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
Derivative Instruments (Tables)	Apr. 29, 2017
Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The following table provides the U.S. dollar notional amount of outstanding foreign currency derivative financial instruments as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Notional Amount $ 362 $ 360 $ 147
Cash Flow Hedging [Member] \| Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position	The following table provides a summary of the fair value and balance sheet classification of outstanding derivative financial instruments designated as foreign currency cash flow hedges as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Other Current Assets $ 27 $ 18 $ — Accrued Expenses and Other 1 1 — Other Long-term Assets — — 11
Schedule of Derivative Instruments in Statement of Financial Performance	The following table provides a summary of the pre-tax financial statement effect of the gains and losses on derivative financial instruments designated as foreign currency cash flow hedges for the first quarter 2017 and 2016 : First Quarter 2017 2016 (in millions) Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) $ 10 $ (16 ) (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Cost of Goods Sold, Buying and Occupancy Expense (a) (2 ) — (Gain) Loss Reclassified from Accumulated Other Comprehensive Income into Other Income (b) (5 ) 14 ________________ (a) Represents reclassification of amounts from accumulated other comprehensive income (loss) to earnings when the hedged merchandise is sold to the customer. No ineffectiveness was associated with these foreign currency cash flow hedges. (b) Represents reclassification of amounts from accumulated other comprehensive income (loss) to earnings to completely offset foreign currency transaction gains and losses recognized on the intercompany loan. No ineffectiveness was associated with this foreign currency cash flow hedge.
Fair Value Hedging [Member] \| Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position	The following table provides a summary of the fair value and balance sheet classification of the derivative financial instruments designated as interest rate fair value hedges as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Other Long-term Assets $ 2 $ 2 $ 10

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Apr. 29, 2017
Fair Value Measurements [Abstract]
Carrying Value And Fair Value Of Long-Term Debt, Disclosure	The following table provides a summary of the principal value and estimated fair value of long-term debt, excluding foreign facility borrowings, as of April 29, 2017 , January 28, 2017 and April 30, 2016 : April 29, January 28, April 30, (in millions) Principal Value $ 5,750 $ 5,750 $ 5,750 Fair Value (a) 5,992 6,030 6,372 _______________ (a) The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC Topic 820, Fair Value Measurement . The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.
Fair Value, Assets And Liabilities Measured On Recurring Basis	The following table provides a summary of assets and liabilities measured in the consolidated financial statements at fair value on a recurring basis as of April 29, 2017 , January 28, 2017 and April 30, 2016 : Level 1 Level 2 Level 3 Total (in millions) As of April 29, 2017 Assets: Cash and Cash Equivalents $ 1,555 $ — $ — $ 1,555 Marketable Securities 5 — — 5 Interest Rate Fair Value Hedges — 2 — 2 Foreign Currency Cash Flow Hedges — 27 — 27 Liabilities: Foreign Currency Cash Flow Hedges — 1 — 1 As of January 28, 2017 Assets: Cash and Cash Equivalents $ 1,934 $ — $ — $ 1,934 Marketable Securities 5 — — 5 Interest Rate Fair Value Hedges — 2 — 2 Foreign Currency Cash Flow Hedges — 18 — 18 Liabilities: Foreign Currency Cash Flow Hedges — 1 — 1 As of April 30, 2016 Assets: Cash and Cash Equivalents $ 1,267 $ — $ — $ 1,267 Marketable Securities 11 — — 11 Interest Rate Fair Value Hedges — 10 — 10 Foreign Currency Cash Flow Hedges — 11 — 11

Comprehensive Income (Tables)

Comprehensive Income (Tables)	3 Months Ended
Comprehensive Income (Tables)	Apr. 29, 2017
Comprehensive Income
Components Of Accumulated Other Comprehensive Income (Loss)	The following table provides the rollforward of accumulated other comprehensive income (loss) for the first quarter 2017 : Foreign Currency Translation Cash Flow Hedges Marketable Securities Accumulated Other Comprehensive Income (Loss) (in millions) Balance as of January 28, 2017 $ 9 $ 3 $ — $ 12 Other Comprehensive Income (Loss) Before Reclassifications 3 10 — 13 Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — (7 ) — (7 ) Tax Effect — — — — Current-period Other Comprehensive Income (Loss) 3 3 — 6 Balance as of April 29, 2017 $ 12 $ 6 $ — $ 18 The following table provides the rollforward of accumulated other comprehensive income (loss) for the first quarter 2016 : Foreign Currency Translation Cash Flow Hedges Marketable Securities Accumulated Other Comprehensive Income (Loss) (in millions) Balance as of January 30, 2016 $ 28 $ 4 $ 8 $ 40 Other Comprehensive Income (Loss) Before Reclassifications 8 (16 ) (2 ) (10 ) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) — 14 (4 ) 10 Tax Effect — — 2 2 Current-period Other Comprehensive Income (Loss) 8 (2 ) (4 ) 2 Balance as of April 30, 2016 $ 36 $ 2 $ 4 $ 42
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following table provides a summary of the reclassification adjustments out of accumulated other comprehensive income (loss) for the first quarter of 2017 and 2016 : Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Location on Consolidated Statements of Income First Quarter 2017 2016 (in millions) (Gain) Loss on Cash Flow Hedges $ (2 ) $ — Cost of Goods Sold, Buying and Occupancy (5 ) 14 Other Income 1 — Provision for Income Taxes $ (6 ) $ 14 Net Income Sale of Available-for-Sale Securities $ — $ (4 ) Other Income — 1 Provision for Income Taxes $ — $ (3 ) Net Income

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Apr. 29, 2017
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information	The following table provides the Company’s segment information for the first quarter of 2017 and 2016 : Victoria’s Secret Bath & Body Works Victoria’s Secret and Bath & Body Works International Other Total (in millions) 2017 First Quarter: Net Sales $ 1,533 $ 678 $ 104 $ 122 $ 2,437 Operating Income (Loss) 159 102 (1 ) (51 ) 209 2016 First Quarter: Net Sales $ 1,741 $ 660 $ 95 $ 118 $ 2,614 Operating Income (Loss) 235 112 13 (37 ) 323

Supplemental Guarantor Financ35

Supplemental Guarantor Financial Information (Tables)	3 Months Ended
Supplemental Guarantor Financial Information (Tables)	Apr. 29, 2017
Condensed Consolidating Balance Sheet [Abstract]
Condensed Balance Sheet [Table Text Block]	L BRANDS, INC. CONDENSED CONSOLIDATING BALANCE SHEET (in millions) (Unaudited) April 30, 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. ASSETS Current Assets: Cash and Cash Equivalents $ — $ 888 $ 379 $ — $ 1,267 Accounts Receivable, Net 2 189 58 — 249 Inventories — 1,121 145 — 1,266 Other — 121 88 — 209 Total Current Assets 2 2,319 670 — 2,991 Property and Equipment, Net — 1,627 796 — 2,423 Goodwill — 1,318 30 — 1,348 Trade Names and Other Intangible Assets, Net — 411 — — 411 Net Investments in and Advances to/from Consolidated Affiliates 4,551 14,752 1,363 (20,666 ) — Deferred Income Taxes — 11 18 — 29 Other Assets 140 37 658 (611 ) 224 Total Assets $ 4,693 $ 20,475 $ 3,535 $ (21,277 ) $ 7,426 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts Payable $ 1 $ 387 $ 332 $ — $ 720 Accrued Expenses and Other 110 432 291 — 833 Current Portion of Long-term Debt — — 8 — 8 Income Taxes — 13 31 — 44 Total Current Liabilities 111 832 662 — 1,605 Deferred Income Taxes (3 ) (76 ) 348 — 269 Long-term Debt 5,713 598 5 (598 ) 5,718 Other Long-term Liabilities — 705 229 (14 ) 920 Total Equity (Deficit) (1,128 ) 18,416 2,291 (20,665 ) (1,086 ) Total Liabilities and Equity (Deficit) $ 4,693 $ 20,475 $ 3,535 $ (21,277 ) $ 7,426 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 and Other Intangible Assets, Net — 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 Portion of Long-term 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) January 28, 2017 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. ASSETS Current Assets: Cash and Cash Equivalents $ — $ 1,562 $ 372 $ — $ 1,934 Accounts Receivable, Net — 228 66 — 294 Inventories — 976 120 — 1,096 Other — 53 88 — 141 Total Current Assets — 2,819 646 — 3,465 Property and Equipment, Net — 1,897 844 — 2,741 Goodwill — 1,318 30 — 1,348 Trade Names and Other Intangible Assets, Net — 411 — — 411 Net Investments in and Advances to/from Consolidated Affiliates 4,923 15,824 1,350 (22,097 ) — Deferred Income Taxes — 10 9 — 19 Other Assets 130 28 639 (611 ) 186 Total Assets $ 5,053 $ 22,307 $ 3,518 $ (22,708 ) $ 8,170 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts Payable $ 3 $ 326 $ 354 $ — $ 683 Accrued Expenses and Other 100 526 371 — 997 Current Portion of Long-term Debt — — 36 — 36 Income Taxes (11 ) 221 88 — 298 Total Current Liabilities 92 1,073 849 — 2,014 Deferred Income Taxes (3 ) (93 ) 448 — 352 Long-term Debt 5,700 597 — (597 ) 5,700 Other Long-term Liabilities 3 761 81 (14 ) 831 Total Equity (Deficit) (739 ) 19,969 2,140 (22,097 ) (727 ) Total Liabilities and Equity (Deficit) $ 5,053 $ 22,307 $ 3,518 $ (22,708 ) $ 8,170
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 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Sales $ — $ 2,472 $ 858 $ (716 ) $ 2,614 Costs of Goods Sold, Buying and Occupancy — (1,539 ) (711 ) 679 (1,571 ) Gross Profit — 933 147 (37 ) 1,043 General, Administrative and Store Operating Expenses (3 ) (639 ) (113 ) 35 (720 ) Operating Income (Loss) (3 ) 294 34 (2 ) 323 Interest Expense (97 ) (9 ) (2 ) 11 (97 ) Other Income — 1 6 — 7 Income (Loss) Before Income Taxes (100 ) 286 38 9 233 Provision for Income Taxes — 62 19 — 81 Equity in Earnings (Loss), Net of Tax 252 62 68 (382 ) — Net Income (Loss) $ 152 $ 286 $ 87 $ (373 ) $ 152
Condensed Statement of Comprehensive Income [Table Text Block]	L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (in millions) (Unaudited) First Quarter 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Income (Loss) $ 152 $ 286 $ 87 $ (373 ) $ 152 Other Comprehensive Income (Loss), Net of Tax: Foreign Currency Translation — — 8 — 8 Unrealized Loss on Cash Flow Hedges — — (16 ) — (16 ) Reclassification of Cash Flow Hedges to Earnings — — 14 — 14 Unrealized Loss on Marketable Securities — — (1 ) — (1 ) Reclassification of Gain on Marketable Securities to Earnings — — (3 ) — (3 ) Total Other Comprehensive Income (Loss), Net of Tax — — 2 — 2 Total Comprehensive Income (Loss) $ 152 $ 286 $ 89 $ (373 ) $ 154 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]	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 on Foreign Facilities — — (1 ) — (1 ) Dividends Paid (172 ) — — — (172 ) Repurchases of Common Stock (85 ) — — — (85 ) Tax Payments related to Share-based Awards (17 ) — — — (17 ) Net Financing Activities and Advances to/from Consolidated Affiliates 334 (401 ) 67 — — Proceeds from Exercise of Stock Options 36 — — — 36 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 L BRANDS, INC. CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (in millions) (Unaudited) Year-to-Date 2016 L Brands, Inc. Guarantor Subsidiaries Non- guarantor Subsidiaries Eliminations Consolidated L Brands, Inc. Net Cash Provided by (Used for) Operating Activities $ (47 ) $ (25 ) $ 29 $ — $ (43 ) Investing Activities: Capital Expenditures — (140 ) (47 ) — (187 ) Return of Capital from Easton Investments — — 1 — 1 Acquisition, Net of Cash Acquired of $1 — — (31 ) — (31 ) Proceeds from Sale of Marketable Securities — — 10 — 10 Other Investing Activities — 2 — — 2 Net Cash Used for Investing Activities — (138 ) (67 ) — (205 ) Financing Activities: Borrowings from Foreign Facilities — — 6 — 6 Dividends Paid (750 ) — — — (750 ) Repurchases of Common Stock (260 ) — — — (260 ) Tax Payments related to Share-based Awards (40 ) — — — (40 ) Net Financing Activities and Advances to/from Consolidated Affiliates 1,087 (1,138 ) 51 — — Proceeds from Exercise of Stock Options 10 — — — 10 Financing Costs and Other — (1 ) — — (1 ) Net Cash Provided by (Used for) Financing Activities 47 (1,139 ) 57 — (1,035 ) Effects of Exchange Rate Changes on Cash and Cash Equivalents — — 2 — 2 Net Increase (Decrease) in Cash and Cash Equivalents — (1,302 ) 21 — (1,281 ) Cash and Cash Equivalents, Beginning of Period — 2,190 358 — 2,548 Cash and Cash Equivalents, End of Period $ — $ 888 $ 379 $ — $ 1,267

New Accounting Pronouncement Sh

New Accounting Pronouncement Share-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income Tax Expense (Benefit)	$ 24	$ 81
Net Cash Provided by (Used for) Operating Activities	7	(43)
Accounting Standards Update 2016-09 [Member] \| Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Cash Provided by (Used for) Operating Activities		$ 71
Accounting Standards Update 2016-09 [Member] \| Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income Tax Expense (Benefit)	$ 11

Earnings Per Share And Shareh37

Earnings Per Share And Shareholders' Equity (Shares Utilized for the Calculation of Basic and Diluted Earnings per Share) (Details) - shares shares in Millions		3 Months Ended
		Apr. 29, 2017	Apr. 30, 2016
Weighted-average Common Shares:
Issued Shares		316	313
Treasury Shares		(30)	(25)
Basic Shares		286	288
Effect of Dilutive Options and Restricted Stock		3	5
Diluted Shares		289	293
Anti-dilutive Options and Awards (a)	[1]	5	2

[1]	These options and awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

Earnings Per Share And Shareh38

Earnings Per Share And Shareholders' Equity (Schedule of Company's Repurchase Program) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended
	Jun. 02, 2017	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Shares Repurchased		1,621	3,125
Amount Repurchased		$ 83	$ 260
February 2017 Repurchase Program [Member] [Member]
Amount Authorized		$ 250
Shares Repurchased		1,570
Amount Repurchased		$ 80
Average Stock Price of Shares Repurchased within Program		$ 50.92
Remaining authorized repurchase amount		$ 170
February 2016 Repurchase Program [Member]
Amount Authorized			$ 500
Shares Repurchased		51	3,125
Amount Repurchased		$ 3	$ 260
Average Stock Price of Shares Repurchased within Program		$ 58.95	$ 83.26
June 2015 Repurchase Program [Member]
Remaining authorized repurchase amount			$ 17
Accounts Payable [Member] \| February 2017 Repurchase Program [Member] [Member]
Share repurchase reflected in Accounts payable		$ 1
Accounts Payable [Member] \| February 2016 Repurchase Program [Member]
Share repurchase reflected in Accounts payable			$ 0	$ 3
Subsequent Event [Member] \| February 2017 Repurchase Program [Member] [Member]
Shares Repurchased	200
Amount Repurchased	$ 11

Earnings Per Share And Shareh39

Earnings Per Share And Shareholders' Equity (Dividends) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Earnings Per Share And Shareholders' Equity [Abstract]
Ordinary Dividends	$ 0.60	$ 0.60
Special Dividends	0	2
Total Dividends	$ 0.6	$ 2.6
Payments of Dividends	$ 172	$ 750

Acquisition (Details)

Acquisition (Details) $ in Millions	Apr. 18, 2016USD ($)	Jan. 28, 2017USD ($)	Apr. 29, 2017
Business Acquisition [Line Items]
Number of Stores			29
American Beauty Limited [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Apr. 18, 2016
Business Combination, Consideration Transferred	$ 44
Number of Stores	26
Forgiveness of Liabilities Owed to the Company	$ 10
Cash and Cash Equivalents	1
Inventories	3
Property and Equipment	10
Goodwill	30
Other Assets	3
Current Liabilities	(3)
Net Assets Acquired	$ 44
Consideration Paid		$ 34

Restructuring Activities (Detai

Restructuring Activities (Details) $ in Millions	3 Months Ended
Restructuring Activities (Details) $ in Millions	Apr. 30, 2016USD ($)position
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 35
Cost of Goods Sold, Buying and Occupancy [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	11
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 24
Home Office Employees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated \| position	200
Non-cash Charge [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 10

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Inventory [Line Items]
Inventory, Finished Goods, Net of Reserves	$ 1,049	$ 982	$ 1,157
Raw Materials and Merchandise Components	98	114	109
Total Inventories	$ 1,147	$ 1,096	$ 1,266

Property And Equipment, Net (De

Property And Equipment, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Property, Plant and Equipment [Line Items]
Property and Equipment, at Cost	$ 6,354	$ 5,818	$ 6,282
Accumulated Depreciation and Amortization	(3,593)	(3,395)	(3,541)
Property and Equipment, Net	2,761	2,423	$ 2,741
Depreciation	$ 142	$ 121

Equity Investments and Other (D

Equity Investments and Other (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Schedule of Equity Method Investments [Line Items]
Gain (Loss) on Equity Method Investment Dividends Or Distributions	$ 9	$ 0
Easton Investment [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 79	$ 82	$ 79

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Apr. 29, 2017	Apr. 30, 2016
Effective Income Tax Rate, Continuing Operations	20.60%	34.60%
Income Taxes Paid	$ 15	$ 227

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-term Debt Instruments) (Details) - USD ($) $ in Millions		Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Senior Unsecured Debt with Subsidiary Guarantee		$ 5,057	$ 5,055	$ 4,362
Other Borrowings		44	36	13
Unsecured Debt		689	681	1,364
Debt, Current		(44)	(36)	(8)
Debt, Long-term and Short-term, Combined Amount		5,746	5,736	5,726
Total Long-term Debt, Net of Current Portion		5,702	5,700	5,718
Fixed Rate 6.875% Notes Due November 2035 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		989	989	989
Fixed Rate 5.625% Notes Due February 2022 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		993	992	991
Fixed Rate 6.625% Notes Due April 2021 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		993	992	991
Fixed Rate 5.625% Notes Due October 2023 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		497	497	496
Fixed Rate 8.50% Notes Due June 2019 [Member]
Senior Unsecured Debt with Subsidiary Guarantee	[1]	496	496	499
Fair Value Interest Rate Hedge Adjustment		2	2	8
Fixed Rate 7.00% Notes Due May 2020 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		397	397	396
Fixed Rate 6.90% Notes Due July 2017 [Member]
Senior Unsecured Debt	[2]	0	0	706
Fair Value Interest Rate Hedge Adjustment				7
Fixed Rate 6.95% Debentures Due March 2033 [Member]
Senior Unsecured Debt		348	348	348
Fixed Rate 7.60% Notes Due July 2037 [Member]
Senior Unsecured Debt		297	297	297
Fixed Rate 6.75% Notes Due July 2036 [Member]
Senior Unsecured Debt with Subsidiary Guarantee		$ 692	$ 692	$ 0

[1]	The balances include a fair value interest rate hedge adjustment which increased the debt balance by $2 million as of April 29, 2017, $2 million as of January 28, 2017 and $8 million as of April 30, 2016.
[2]	The balance includes a fair value interest rate hedge adjustment which increased the debt balance by $7 million as of April 30, 2016.

Long-term Debt (Issuance And Re

Long-term Debt (Issuance And Repurchase Of Notes) (Narrative) (Details) $ in Millions	3 Months Ended
	Jul. 30, 2016USD ($)
Fixed Rate 6.75% Notes Due July 2036 [Member]
Debt Instrument, Face Amount	$ 700
Debt instrument, stated rate	6.75%
Proceeds from Debt, Net of Issuance Costs	$ 692
Debt Issuance Cost	8
Fixed Rate 6.90% Notes Due July 2017 [Member]
Extinguishment of Debt, Amount	700
Debt Instrument, Repurchase Amount	742
Gains (Losses) on Extinguishment of Debt	(36)
Extinguishment of Debt, Gain (Loss), Net of Tax	(22)
Derivative, Gain on Derivative	$ 7

Long-term Debt (Revolving Facil

Long-term Debt (Revolving Facility And Letters Of Credit) (Narrative) (Details) $ in Millions	May 11, 2017USD ($)	Apr. 29, 2017USD ($)	Apr. 30, 2016USD ($)
Proceeds from Long-term Lines of Credit		$ 9	$ 6
Repayments of Lines of Credit		1	0
Foreign Facilities [Member]
Revolving facility, borrowing capacity		100
Proceeds from Long-term Lines of Credit		9
Repayments of Lines of Credit		1
Line of Credit Facility, Maximum Amount Outstanding During Period		44
Fixed Rate 6.90% Notes Due July 2017 [Member]
Interest Rate Fair Value Hedge Derivative at Fair Value, Net			$ 7
Letter of Credit [Member]
Outstanding letters of credit		8
Revolving Credit Facility [Member] \| Revolving Credit Expiring July 2019 [Member]
Revolving facility, borrowing capacity		$ 1,000
Revolving Facility Commitment fee percentage, unused capacity		0.30%
Revolving Facility Current credit fees percentage rate, letters of credit		1.50%
Revolving Facility Percentage spread over variable base rate		1.50%
Revolving Facility Covenant Fixed charge coverage ratio		1.75
Revolving Facility Covenant Ratio of consolidated debt to consolidated EBITDA		4
Revolving Facility Covenant Debt to EBITDA ratio required for unlimited investments and restricted payments		3
Revolving Facility Covenant Line of Credit Financial Covenant Ratio of Consolidated Debt to Consolidated EBITDA Maximum Current Rate		3
Outstanding letters of credit		$ 0
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Revolving Credit Expiring May 2022 [Member]
Revolving facility, borrowing capacity	$ 1,000
Revolving Facility Commitment fee percentage, unused capacity	0.25%

Derivative Instruments (Foreign

Derivative Instruments (Foreign Exchange Contracts - Cash Flow Hedging Disclosure) (Details) CAD in Millions, $ in Millions	3 Months Ended
	Apr. 29, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 29, 2017CAD	Apr. 29, 2017USD ($)	Jan. 28, 2017USD ($)
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	$ 10	$ (16)
Foreign Currency Cash Flow Hedge Asset at Fair Value		11		$ 27	$ 18
Cost of Goods Sold, Buying and Occupancy [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(2)	0
Other Income (Loss) [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(5)	14
Cash Flow Hedging [Member]
Derivative, Notional Amount		147		362	360
Cash Flow Hedging [Member] \| Currency Swap [Member]
Derivative, Notional Amount \| CAD			CAD 170
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0
Cash Flow Hedging [Member] \| Foreign Exchange Contract [Member]
Derivative, Remaining Maturity	18 months
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months				4
Other Current Assets [Member]
Foreign Currency Cash Flow Hedge Asset at Fair Value		0		27	18
Other Assets [Member]
Foreign Currency Cash Flow Hedge Asset at Fair Value		$ 11		0	$ 0
Fixed Rate 8.50% Notes Due June 2019 [Member] \| Fair Value Hedging [Member] \| Interest Rate Swap [Member]
Derivative, Notional Amount				$ 300

Derivative Instruments Fair Val

Derivative Instruments Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Derivatives, Fair Value [Line Items]
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	$ 10	$ (16)
Interest Rate Fair Value Hedges	2	10	$ 2
Foreign Currency Cash Flow Hedge Asset at Fair Value	27	11	18
Foreign Currency Cash Flow Hedge Liability at Fair Value	1	0	1
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Foreign Currency Cash Flow Hedge Asset at Fair Value	27	0	18
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Interest Rate Fair Value Hedges	2	10	2
Foreign Currency Cash Flow Hedge Asset at Fair Value	$ 0	$ 11	$ 0

Derivative Instruments Derivati

Derivative Instruments Derivative Instruments (Interest Rate Contracts - Fair Value Hedging Disclosures) (Details) $ in Millions	Apr. 29, 2017USD ($)
Fair Value Hedging [Member] \| Interest Rate Swap [Member] \| Fixed Rate 8.50% Notes Due June 2019 [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 300

Fair Value Measurements (Carryi

Fair Value Measurements (Carrying Value And Fair Value Of Long-Term Debt, Disclosure) (Detail) - USD ($) $ in Millions		Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Fair Value Measurements
Principal Value		$ 5,750	$ 5,750	$ 5,750
Fair Value (a)	[1]	$ 5,992	$ 6,030	$ 6,372

[1]	The estimated fair value of the Company’s publicly traded debt is based on reported transaction prices which are considered Level 2 inputs in accordance with ASC Topic 820, Fair Value Measurement. The estimates presented are not necessarily indicative of the amounts that the Company could realize in a current market exchange.

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Available-for-sale Securities, Gross Realized Gains	$ 0	$ 4
Assets:
Cash and Cash Equivalents	1,555	1,267	$ 1,934
Available-for-sale Securities	5	11	5
Foreign Currency Cash Flow Hedge Asset at Fair Value	27	11	18
Interest Rate Fair Value Hedges	2	10	2
Proceeds from Sale of Available-for-sale Securities, Equity		10
Liabilities:
Foreign Currency Cash Flow Hedge Liability at Fair Value	1	0	1
Marketable Securities, Realized Gain (Loss)	0	(3)
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and Cash Equivalents	1,555	1,267	1,934
Available-for-sale Securities	5	11	5
Foreign Currency Cash Flow Hedge Asset at Fair Value	0	0	0
Interest Rate Fair Value Hedges	0	0	0
Liabilities:
Foreign Currency Cash Flow Hedge Liability at Fair Value	0		0
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and Cash Equivalents	0	0	0
Available-for-sale Securities	0	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	27	11	18
Interest Rate Fair Value Hedges	2	10	2
Liabilities:
Foreign Currency Cash Flow Hedge Liability at Fair Value	1		1
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and Cash Equivalents	0	0	0
Available-for-sale Securities	0	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	0	0	0
Interest Rate Fair Value Hedges	0	$ 0	0
Liabilities:
Foreign Currency Cash Flow Hedge Liability at Fair Value	$ 0		$ 0

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Securities Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 5	$ 11	$ 5
Proceeds from Sale of Available-for-sale Securities, Equity		10
Available-for-sale Securities, Gross Realized Gains	0	4
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	3
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	5	11	$ 5
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Gross Realized Gains	0	4
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ 0	$ 3

Comprehensive Income (Component

Comprehensive Income (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Other Comprehensive Income (Loss), before Reclassifications, before Tax	$ 13	$ (10)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(7)	10
Other Comprehensive Income (Loss), Tax	0	2
Accumulated Other Comprehensive Income (Loss), Beginning Balance	12	40
Accumulated Other Comprehensive Income (Loss), Ending Balance	18	42
Other Income	10	7
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(3)
Available-for-sale Securities, Gross Realized Gains	0	(4)
Provision for Income Taxes	24	81
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	6	(14)
Net Income	94	152
Other Comprehensive Income (Loss), Net of Tax	6	2
Accumulated Translation Adjustment [Member]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	3	8
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	0
Other Comprehensive Income (Loss), Tax	0	0
Accumulated Other Comprehensive Income (Loss), Beginning Balance	9	28
Accumulated Other Comprehensive Income (Loss), Ending Balance	12	36
Other Comprehensive Income (Loss), Net of Tax	3	8
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	10	(16)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	(7)	14
Other Comprehensive Income (Loss), Tax	0	0
Accumulated Other Comprehensive Income (Loss), Beginning Balance	3	4
Accumulated Other Comprehensive Income (Loss), Ending Balance	6	2
Other Comprehensive Income (Loss), Net of Tax	3	(2)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	0	(2)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	0	(4)
Other Comprehensive Income (Loss), Tax	0	2
Accumulated Other Comprehensive Income (Loss), Beginning Balance	0	8
Accumulated Other Comprehensive Income (Loss), Ending Balance	0	4
Other Comprehensive Income (Loss), Net of Tax	0	(4)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	1	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(6)	14
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	1
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(3)
Available-for-sale Securities, Gross Realized Gains	0	(4)
Cost of Goods Sold, Buying and Occupancy [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(2)	0
Other Income [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ (5)	$ 14

Commitments And Contingencies (

Commitments And Contingencies (Details) - USD ($) $ in Millions	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016
Sale Leaseback Transaction, Other Information	$ 133
Lease guarantees, estimated fair value	1	$ 1	$ 3
Provision for Loss on Contracts	9
Property Lease Guarantee [Member]
Lease guarantees remaining after disposition of certain businesses	$ 13

Retirement Benefits (Narrative)

Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Retirement Benefits Disclosure [Line Items]
Expense related to the qualified plan	$ 16	$ 17
Other Pension Plans, Postretirement or Supplemental Plans, Defined Benefit [Member]
Retirement Benefits Disclosure [Line Items]
Expense related to non-qualified plan	$ 4	$ 7

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended
Segment Information (Details) $ in Millions	Apr. 29, 2017USD ($)Reportable_Segments	Apr. 30, 2016USD ($)
Number of Reportable Segments \| Reportable_Segments	3
Net Sales	$ 2,437	$ 2,614
Operating Income (Loss)	$ 209	323
Number of Stores	29
Victoria's Secret [Member]
Net Sales	$ 1,533	1,741
Operating Income (Loss)	159	235
Bath & Body Works [Member]
Net Sales	678	660
Operating Income (Loss)	102	112
Victoria's Secret and Bath & Body Works International [Member]
Net Sales	104	95
Operating Income (Loss)	(1)	13
Other [Member]
Net Sales	122	118
Operating Income (Loss)	(51)	(37)
International [Member]
Net Sales	$ 299	$ 295

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended
	Jun. 02, 2017	Apr. 29, 2017	Apr. 30, 2016
Subsequent Event [Line Items]
Shares Repurchased		1,621	3,125
Amount Repurchased		$ 83	$ 260
February 2017 Repurchase Program [Member] [Member]
Subsequent Event [Line Items]
Shares Repurchased		1,570
Amount Repurchased		$ 80
February 2017 Repurchase Program [Member] [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Shares Repurchased	200
Amount Repurchased	$ 11
February 2016 Repurchase Program [Member]
Subsequent Event [Line Items]
Shares Repurchased		51	3,125
Amount Repurchased		$ 3	$ 260

Supplemental Guarantor Financ60

Supplemental Guarantor Financial Information (Narrative) (Details)	3 Months Ended
	Apr. 29, 2017
Supplemental Guarantor Financial Information [Abstract]
Minimum percentage of assets owned by domestic subsidiaries	90.00%
Minimum percentage of accounts receivable and inventory owned by domestic subsidiaries	95.00%

Supplemental Guarantor Financ61

Supplemental Guarantor Financial Information (Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016	Jan. 30, 2016
Current Assets:
Cash and Cash Equivalents	$ 1,555	$ 1,934	$ 1,267	$ 2,548
Accounts Receivable, Net	213	294	249
Inventories	1,147	1,096	1,266
Other	237	141	209
Total Current Assets	3,152	3,465	2,991
Deferred Tax Assets, Net, Noncurrent	23	19	29
Property and Equipment, Net	2,761	2,741	2,423
Goodwill	1,348	1,348	1,348
Trade Names and Other Intangible Assets, Net	411	411	411
Net Investments in and Advances to/from Consolidated Affiliates	0	0	0
Other Assets	187	186	224
Total Assets	7,882	8,170	7,426
Current Liabilities:
Accounts Payable	664	683	720
Accrued Expenses and Other	813	997	833
Debt, Current	44	36	8
Income Taxes	310	298	44
Total Current Liabilities	1,831	2,014	1,605
Deferred Income Taxes	360	352	269
Long-term Debt	5,702	5,700	5,718
Other Long-term Liabilities	824	831	920
Total Equity (Deficit)	(835)	(727)	(1,086)
Total Liabilities and Equity (Deficit)	7,882	8,170	7,426
L Brands, Inc.
Current Assets:
Cash and Cash Equivalents	0	0	0	0
Accounts Receivable, Net	1	0	2
Inventories	0	0	0
Other	0	0	0
Total Current Assets	1	0	2
Deferred Tax Assets, Net, Noncurrent	0	0	0
Property and Equipment, Net	0	0	0
Goodwill	0	0	0
Trade Names and Other Intangible Assets, Net	0	0	0
Net Investments in and Advances to/from Consolidated Affiliates	4,819	4,923	4,551
Other Assets	129	130	140
Total Assets	4,949	5,053	4,693
Current Liabilities:
Accounts Payable	2	3	1
Accrued Expenses and Other	109	100	110
Debt, Current	0	0	0
Income Taxes	(11)	(11)	0
Total Current Liabilities	100	92	111
Deferred Income Taxes	(3)	(3)	(3)
Long-term Debt	5,702	5,700	5,713
Other Long-term Liabilities	3	3	0
Total Equity (Deficit)	(853)	(739)	(1,128)
Total Liabilities and Equity (Deficit)	4,949	5,053	4,693
Guarantor Subsidiaries
Current Assets:
Cash and Cash Equivalents	1,207	1,562	888	2,190
Accounts Receivable, Net	130	228	189
Inventories	1,000	976	1,121
Other	130	53	121
Total Current Assets	2,467	2,819	2,319
Deferred Tax Assets, Net, Noncurrent	10	10	11
Property and Equipment, Net	1,935	1,897	1,627
Goodwill	1,318	1,318	1,318
Trade Names and Other Intangible Assets, Net	411	411	411
Net Investments in and Advances to/from Consolidated Affiliates	16,358	15,824	14,752
Other Assets	34	28	37
Total Assets	22,533	22,307	20,475
Current Liabilities:
Accounts Payable	371	326	387
Accrued Expenses and Other	394	526	432
Debt, Current	0	0	0
Income Taxes	226	221	13
Total Current Liabilities	991	1,073	832
Deferred Income Taxes	(86)	(93)	(76)
Long-term Debt	597	597	598
Other Long-term Liabilities	752	761	705
Total Equity (Deficit)	20,279	19,969	18,416
Total Liabilities and Equity (Deficit)	22,533	22,307	20,475
Non- guarantor Subsidiaries
Current Assets:
Cash and Cash Equivalents	348	372	379	358
Accounts Receivable, Net	82	66	58
Inventories	147	120	145
Other	107	88	88
Total Current Assets	684	646	670
Deferred Tax Assets, Net, Noncurrent	13	9	18
Property and Equipment, Net	826	844	796
Goodwill	30	30	30
Trade Names and Other Intangible Assets, Net	0	0	0
Net Investments in and Advances to/from Consolidated Affiliates	1,449	1,350	1,363
Other Assets	636	639	658
Total Assets	3,638	3,518	3,535
Current Liabilities:
Accounts Payable	291	354	332
Accrued Expenses and Other	310	371	291
Debt, Current	44	36	8
Income Taxes	95	88	31
Total Current Liabilities	740	849	662
Deferred Income Taxes	449	448	348
Long-term Debt	0	0	5
Other Long-term Liabilities	84	81	229
Total Equity (Deficit)	2,365	2,140	2,291
Total Liabilities and Equity (Deficit)	3,638	3,518	3,535
Eliminations
Current Assets:
Cash and Cash Equivalents	0	0	0	$ 0
Accounts Receivable, Net	0	0	0
Inventories	0	0	0
Other	0	0	0
Total Current Assets	0	0	0
Deferred Tax Assets, Net, Noncurrent	0	0	0
Property and Equipment, Net	0	0	0
Goodwill	0	0	0
Trade Names and Other Intangible Assets, Net	0	0	0
Net Investments in and Advances to/from Consolidated Affiliates	(22,626)	(22,097)	(20,666)
Other Assets	(612)	(611)	(611)
Total Assets	(23,238)	(22,708)	(21,277)
Current Liabilities:
Accounts Payable	0	0	0
Accrued Expenses and Other	0	0	0
Debt, Current	0	0	0
Income Taxes	0	0	0
Total Current Liabilities	0	0	0
Deferred Income Taxes	0	0	0
Long-term Debt	(597)	(597)	(598)
Other Long-term Liabilities	(15)	(14)	(14)
Total Equity (Deficit)	(22,626)	(22,097)	(20,665)
Total Liabilities and Equity (Deficit)	$ (23,238)	$ (22,708)	$ (21,277)

Supplemental Guarantor Financ62

Supplemental Guarantor Financial Information (Consolidated Statements Of Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Net Sales	$ 2,437	$ 2,614
Cost of Goods and Services Sold	(1,534)	(1,571)
Gross Profit	903	1,043
Selling, General and Administrative Expense	(694)	(720)
Operating Income (Loss)	209	323
Interest Expense	(101)	(97)
Other Nonoperating Income (Expense)	10	7
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	118	233
Provision for Income Taxes	24	81
Equity in Earnings (Loss), Net of Tax	0	0
Net Income (Loss) Attributable to Parent	94	152
Reclassification of Cash Flow Hedges to Earnings	(6)	14
Foreign Currency Translation	3	8
Unrealized Gain (Loss) on Cash Flow Hedges	9	(16)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	0	(1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	0	(3)
Total Other Comprehensive Income (Loss), Net of Tax	6	2
Total Comprehensive Income	100	154
L Brands, Inc.
Net Sales	0	0
Cost of Goods and Services Sold	0	0
Gross Profit	0	0
Selling, General and Administrative Expense	(4)	(3)
Operating Income (Loss)	(4)	(3)
Interest Expense	(100)	(97)
Other Nonoperating Income (Expense)	0	0
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(104)	(100)
Provision for Income Taxes	0	0
Equity in Earnings (Loss), Net of Tax	198	252
Net Income (Loss) Attributable to Parent	94	152
Reclassification of Cash Flow Hedges to Earnings	0	0
Foreign Currency Translation	0	0
Unrealized Gain (Loss) on Cash Flow Hedges	0	0
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		0
Total Other Comprehensive Income (Loss), Net of Tax	0	0
Total Comprehensive Income	94	152
Guarantor Subsidiaries
Net Sales	2,310	2,472
Cost of Goods and Services Sold	(1,486)	(1,539)
Gross Profit	824	933
Selling, General and Administrative Expense	(635)	(639)
Operating Income (Loss)	189	294
Interest Expense	(11)	(9)
Other Nonoperating Income (Expense)	3	1
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	181	286
Provision for Income Taxes	20	62
Equity in Earnings (Loss), Net of Tax	179	62
Net Income (Loss) Attributable to Parent	340	286
Reclassification of Cash Flow Hedges to Earnings	0	0
Foreign Currency Translation	0	0
Unrealized Gain (Loss) on Cash Flow Hedges	0	0
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		0
Total Other Comprehensive Income (Loss), Net of Tax	0	0
Total Comprehensive Income	340	286
Non- guarantor Subsidiaries
Net Sales	696	858
Cost of Goods and Services Sold	(571)	(711)
Gross Profit	125	147
Selling, General and Administrative Expense	(90)	(113)
Operating Income (Loss)	35	34
Interest Expense	(3)	(2)
Other Nonoperating Income (Expense)	7	6
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	39	38
Provision for Income Taxes	4	19
Equity in Earnings (Loss), Net of Tax	150	68
Net Income (Loss) Attributable to Parent	185	87
Reclassification of Cash Flow Hedges to Earnings	(6)	14
Foreign Currency Translation	3	8
Unrealized Gain (Loss) on Cash Flow Hedges	9	(16)
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		(1)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		(3)
Total Other Comprehensive Income (Loss), Net of Tax	6	2
Total Comprehensive Income	191	89
Eliminations
Net Sales	(569)	(716)
Cost of Goods and Services Sold	523	679
Gross Profit	(46)	(37)
Selling, General and Administrative Expense	35	35
Operating Income (Loss)	(11)	(2)
Interest Expense	13	11
Other Nonoperating Income (Expense)	0	0
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	2	9
Provision for Income Taxes	0	0
Equity in Earnings (Loss), Net of Tax	(527)	(382)
Net Income (Loss) Attributable to Parent	(525)	(373)
Reclassification of Cash Flow Hedges to Earnings	0	0
Foreign Currency Translation	0	0
Unrealized Gain (Loss) on Cash Flow Hedges	0	0
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		0
Total Other Comprehensive Income (Loss), Net of Tax	0	0
Total Comprehensive Income	$ (525)	$ (373)

Supplemental Guarantor Financ63

Supplemental Guarantor Financial Information (Consolidated Statements Of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Net Cash Provided by (Used for) Operating Activities	$ 7	$ (43)
Investing Activities:
Capital Expenditures	(165)	(187)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	10	1
Proceeds from Sale and Maturity of Marketable Securities	0	10
Payments to Acquire Businesses, Net of Cash Acquired	0	(31)
Other Investing Activities	0	(2)
Net Cash Provided by (Used for) Investing Activities	(155)	(205)
Proceeds from Lines of Credit	9	6
Financing Activities:
Repayments of Lines of Credit	(1)	0
Payments of Dividends	(172)	(750)
Repurchases of Common Stock	(85)	(260)
Payments Related to Tax Withholding for Share-based Compensation	(17)	(40)
Net Financing Activities and Advances to/from Consolidated Affiliates	0	0
Proceeds from Exercise of Stock Options	36	10
Proceeds from (Payments for) Other Financing Activities	0	(1)
Net Cash Provided by (Used for) Financing Activities	(230)	(1,035)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(1)	2
Net Increase (Decrease) in Cash and Cash Equivalents	(379)	(1,281)
Cash and Cash Equivalents, Beginning of Period	1,934	2,548
Cash and Cash Equivalents, End of Period	1,555	1,267
L Brands, Inc.
Net Cash Provided by (Used for) Operating Activities	(96)	(47)
Investing Activities:
Capital Expenditures	0	0
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	0	0
Proceeds from Sale and Maturity of Marketable Securities		0
Payments to Acquire Businesses, Net of Cash Acquired		0
Other Investing Activities		0
Net Cash Provided by (Used for) Investing Activities	0	0
Proceeds from Lines of Credit	0	0
Financing Activities:
Repayments of Lines of Credit	0
Payments of Dividends	(172)	(750)
Repurchases of Common Stock	(85)	(260)
Payments Related to Tax Withholding for Share-based Compensation	(17)	(40)
Net Financing Activities and Advances to/from Consolidated Affiliates	334	1,087
Proceeds from Exercise of Stock Options	36	10
Proceeds from (Payments for) Other Financing Activities		0
Net Cash Provided by (Used for) Financing Activities	96	47
Effects of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase (Decrease) in Cash and Cash Equivalents	0	0
Cash and Cash Equivalents, Beginning of Period	0	0
Cash and Cash Equivalents, End of Period	0	0
Guarantor Subsidiaries
Net Cash Provided by (Used for) Operating Activities	181	(25)
Investing Activities:
Capital Expenditures	(135)	(140)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	0	0
Proceeds from Sale and Maturity of Marketable Securities		0
Payments to Acquire Businesses, Net of Cash Acquired		0
Other Investing Activities		(2)
Net Cash Provided by (Used for) Investing Activities	(135)	(138)
Proceeds from Lines of Credit	0	0
Financing Activities:
Repayments of Lines of Credit	0
Payments of Dividends	0	0
Repurchases of Common Stock	0	0
Payments Related to Tax Withholding for Share-based Compensation	0	0
Net Financing Activities and Advances to/from Consolidated Affiliates	(401)	(1,138)
Proceeds from Exercise of Stock Options	0	0
Proceeds from (Payments for) Other Financing Activities		(1)
Net Cash Provided by (Used for) Financing Activities	(401)	(1,139)
Effects of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase (Decrease) in Cash and Cash Equivalents	(355)	(1,302)
Cash and Cash Equivalents, Beginning of Period	1,562	2,190
Cash and Cash Equivalents, End of Period	1,207	888
Non- guarantor Subsidiaries
Net Cash Provided by (Used for) Operating Activities	(78)	29
Investing Activities:
Capital Expenditures	(30)	(47)
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	10	1
Proceeds from Sale and Maturity of Marketable Securities		10
Payments to Acquire Businesses, Net of Cash Acquired		(31)
Other Investing Activities		0
Net Cash Provided by (Used for) Investing Activities	(20)	(67)
Proceeds from Lines of Credit	9	6
Financing Activities:
Repayments of Lines of Credit	(1)
Payments of Dividends	0	0
Repurchases of Common Stock	0	0
Payments Related to Tax Withholding for Share-based Compensation	0	0
Net Financing Activities and Advances to/from Consolidated Affiliates	67	51
Proceeds from Exercise of Stock Options	0	0
Proceeds from (Payments for) Other Financing Activities		0
Net Cash Provided by (Used for) Financing Activities	75	57
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(1)	2
Net Increase (Decrease) in Cash and Cash Equivalents	(24)	21
Cash and Cash Equivalents, Beginning of Period	372	358
Cash and Cash Equivalents, End of Period	348	379
Consolidation, Eliminations [Member]
Net Cash Provided by (Used for) Operating Activities	0	0
Investing Activities:
Capital Expenditures	0	0
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital	0	0
Proceeds from Sale and Maturity of Marketable Securities		0
Payments to Acquire Businesses, Net of Cash Acquired		0
Other Investing Activities		0
Net Cash Provided by (Used for) Investing Activities	0	0
Proceeds from Lines of Credit	0	0
Financing Activities:
Repayments of Lines of Credit	0
Payments of Dividends	0	0
Repurchases of Common Stock	0	0
Payments Related to Tax Withholding for Share-based Compensation	0	0
Net Financing Activities and Advances to/from Consolidated Affiliates	0	0
Proceeds from Exercise of Stock Options	0	0
Proceeds from (Payments for) Other Financing Activities		0
Net Cash Provided by (Used for) Financing Activities	0	0
Effects of Exchange Rate Changes on Cash and Cash Equivalents	0	0
Net Increase (Decrease) in Cash and Cash Equivalents	0	0
Cash and Cash Equivalents, Beginning of Period	0	0
Cash and Cash Equivalents, End of Period	$ 0	$ 0