Property And Equipment

12 Months Ended

Feb. 02, 2013

8.	PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:



($ thousands)	February 2, 2013		January 28, 2012
Land and buildings	$	40,774	$	42,049
Leasehold improvements		172,635		170,824
Technology equipment		48,448		47,371
Machinery and equipment		54,871		64,085
Furniture and fixtures		108,622		107,320
Construction in progress		16,542		5,034
Property and equipment		441,892		436,683
Allowances for depreciation		(295,803)		(305,212)
Property and equipment, net	$	146,089	$	131,471

Useful lives of property and equipment are as follows:



Buildings	15-30 years
Leasehold improvements	5-20 years
Technology equipment	3-10 years
Machinery and equipment	8-20 years
Furniture and fixtures	3-10 years

The Company recorded charges for impairment, primarily for leasehold improvements and furniture and fixtures in the Company’s retail stores, of $4.1 million, $1.9 million and $2.8 million in 2012, 2011 and 2010, respectively. Of the $4.1 million impairment charges in 2012, $3.6 million is included in restructuring and other special charges, net, and $0.5 million is included in selling and administrative expenses. All of the charges in 2011 and 2010 are included in selling and administrative expenses. Fair value was based on estimated future cash flows to be generated by retail stores, discounted at a market rate of interest.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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