Property and Equipment

12 Months Ended

Feb. 02, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

($ thousands)	February 2, 2019			February 3, 2018
Land and buildings	$	58,337		$	49,621
Leasehold improvements	233,604			233,034
Technology equipment	49,120			53,070
Machinery and equipment	69,628			67,778
Furniture and fixtures	134,259			131,884
Construction in progress	34,139			7,425
Property and equipment	579,087			542,812
Allowances for depreciation	(348,303		)	(330,013		)
Property and equipment, net	$	230,784		$	212,799

Total assets financed under capital leases as of February 2, 2019 were $3.1 million. There were no assets financed under capital leases as of February 3, 2018.

Useful lives of property and equipment are as follows:

Buildings	5-30 years
Leasehold improvements	5-20 years
Technology equipment	2-7 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 $3.7 million, $3.8 million and $1.6 million in 2018, 2017 and 2016, 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. The Company capitalized interest of $0.2 million in 2018 related to the new company-operated Brand Portfolio warehouse facilities in California, with no corresponding interest capitalized in 2017. The Company capitalized interest of $1.4 million in 2016 related to its expansion and modernization project at its Lebanon, Tennessee distribution center.