Property and Equipment

12 Months Ended

Jan. 30, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

($ thousands)	January 30, 2016			January 31, 2015
Land and buildings	$	38,300		$	40,078
Leasehold improvements	196,960			183,466
Technology equipment	49,575			53,406
Machinery and equipment	35,805			35,988
Furniture and fixtures	121,186			117,254
Construction in progress	33,924			8,504
Property and equipment	475,750			438,696
Allowances for depreciation	(296,740		)	(288,953		)
Property and equipment, net	$	179,010		$	149,743

Useful lives of property and equipment are as follows:

Buildings	5-30 years
Leasehold improvements	5-20 years
Technology equipment	2-10 years
Machinery and equipment	4-20 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 $2.8 million, $2.0 million and $1.6 million in 2015, 2014 and 2013, respectively. All of the impairment charges in 2015, 2014 and 2013 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.

Interest costs for major asset additions are capitalized during the construction or development period and amortized over the lives of the related assets. In 2015, the Company capitalized interest of $0.3 million related to its expansion and modernization project at its Lebanon, Tennessee distribution center, with no corresponding amounts capitalized in 2014 or 2013.