For the year ending 2026-01-31, BBWI had $279M increase in cash & cash equivalents over the period. $865M in free cash flow.
| Cash Flow | 2026-01-31 | 2025-02-01 | 2024-02-03 | 2023-01-28 |
|---|---|---|---|---|
| Net income | 649 | 798 | 878 | 800 |
| Depreciation of long-lived assets | 254 | 282 | 269 | 221 |
| Share-based compensation expense | 31 | 40 | 43 | 38 |
| Gain on sale of non-core asset | 8 | - | - | - |
| Gain on sales of easton investments | 0 | 39 | - | - |
| Loss on extinguishment of debt | 0 | -10 | 34 | 0 |
| Deferred income taxes | 63 | -112 | -128 | 17 |
| Victoria's secret asset impairment charges | - | - | - | 0 |
| Gain from victoria's secret hong kong store closure and lease termination | - | - | - | 0 |
| Gain related to formation of victoria's secret u.k. joint venture | - | - | - | 0 |
| Impairment of equity method investment | 0 | 0 | 8 | - |
| Accounts receivable | -25 | -18 | -2 | -11 |
| Inventories | -37 | 26 | 2 | 0 |
| Accounts payable, accrued expenses and other | 111 | -50 | -109 | 44 |
| Income taxes payable | -57 | -23 | 34 | 39 |
| Other assets and liabilities | 3 | 12 | 7 | 26 |
| Net cash provided by operating activities | 1,102 | 886 | 954 | 1,144 |
| Capital expenditures | 237 | 226 | 298 | 328 |
| Proceeds from sale of non-core asset | 9 | - | - | - |
| Proceeds from sales of easton investments, net of fees paid | 0 | 40 | - | - |
| Other investing activities | -1 | -24 | -12 | 0 |
| Net cash used for investing activities | -227 | -162 | -286 | -328 |
| Proceeds from issuance of long-term debt, net of issuance costs | - | - | - | 0 |
| Payments for long-term debt | 0 | 522 | 447 | 0 |
| Borrowing from revolving credit agreement | - | - | - | 0 |
| Repayment of revolving credit agreement | - | - | - | 0 |
| Proceeds from spin-off of victorias secret & co | - | - | 0 | 0 |
| Net payments to victorias secret & co. related to spin-off | - | 2 | 3 | 25 |
| Net repayments of victoria's secret foreign facilities | - | - | - | 0 |
| Repurchases of common stock | 401 | 401 | 148 | 1,312 |
| Dividends paid | 167 | 177 | 182 | 186 |
| Proceeds from stock option exercises | - | - | 4 | 6 |
| Payments of finance lease obligations | 14 | 17 | 15 | 9 |
| Tax payments related to share-based awards | 8 | 16 | 11 | 32 |
| Other financing activities | -9 | 3 | -13 | -4 |
| Net cash used for financing activities | -599 | -1,132 | -815 | -1,562 |
| Effects of exchange rate changes on cash and cash equivalents | 3 | -2 | -1 | -1 |
| Net increase (decrease) in cash and cash equivalents | 279 | -410 | -148 | -747 |
| Cash and cash equivalents, beginning of year | 674 | 1,084 | 1,232 | 1,979 |
| Cash and cash equivalents, end of year | 953 | 674 | 1,084 | 1,232 |
Bath & Body Works, Inc. (BBWI)
Bath & Body Works, Inc. (BBWI)