Property and Equipment

12 Months Ended

Feb. 03, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

($ thousands)	February 3, 2018			January 28, 2017
Land and buildings	$	49,621		$	40,363
Leasehold improvements	233,034			215,347
Technology equipment	53,070			52,680
Machinery and equipment	67,778			67,245
Furniture and fixtures	131,884			148,473
Construction in progress	7,425			6,996
Property and equipment	542,812			531,104
Allowances for depreciation	(330,013		)	(311,908		)
Property and equipment, net	$	212,799		$	219,196

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 within selling and administrative expenses of $3.8 million, $1.6 million and $2.8 million in 2017, 2016 and 2015, respectively, primarily for leasehold improvements and furniture and fixtures in the Company’s retail stores. 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 2016 and 2015, the Company capitalized interest of $1.4 million and $0.3 million, respectively, related to its expansion and modernization project at its Lebanon, Tennessee distribution center that was completed in 2016. No interest was capitalized in 2017.