Property And Equipment

12 Months Ended

Feb. 28, 2014

7.Property and Equipment


	As of February 28
(In thousands)	2014		2013
Land	$	346,518	$	275,060
Land held for sale		1,050		4,872
Land held for development		170,387		168,830
Buildings		1,244,772		1,119,577
Capital leases		1,739		1,739
Leasehold improvements		129,186		106,695
Furniture, fixtures and equipment		343,958		311,646
Construction in progress		145,923		89,532
Total property and equipment		2,383,533		2,077,951
Less accumulated depreciation and amortization		730,556		648,981
Property and equipment, net	$	1,652,977	$	1,428,970

Land held for development represents land owned for potential store growth. Leased property meeting capital lease criteria is capitalized and the present value of the related lease payments is recorded as long-term debt. Amortization of capital leased assets is included in depreciation expense, and accumulated amortization was $0.3 million as of February 28, 2014, and $0.2 million as of February 28, 2013. Depreciation expense was $90.4 million in fiscal 2014, $82.3 million in fiscal 2013 and $75.2 million in fiscal 2012.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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