Property and Equipment, Net

12 Months Ended

Feb. 01, 2014

Property, Plant and Equipment [Abstract]

The following table provides details of property and equipment, net as of February 1, 2014 and February 2, 2013:



	February 1, 2014			February 2, 2013
	(in millions)
Land	$	58		$	60
Buildings and Improvements	408			402
Furniture, Fixtures, Software and Equipment	2,984			2,715
Leasehold Improvements	1,534			1,359
Construction in Progress	117			186
Total	5,101			4,722
Accumulated Depreciation and Amortization	(3,056		)	(2,919		)
Property and Equipment, Net	$	2,045		$	1,803

Depreciation expense was $406 million in 2013, $386 million in 2012 and $387 million in 2011.

In the fourth quarter of 2012, the Company concluded that the continued negative operating results of the Henri Bendel business was an indicator of potential impairment for the Henri Bendel long-lived store assets. The Company calculated the impairment by comparing the estimated discounted cash flows at each store to its respective carrying value and recognized an impairment charge of $27 million. This impairment charge is included in Cost of Goods Sold, Buying and Occupancy on the 2012 Consolidated Statement of Income. Based on the evaluation performed in the fourth quarter of 2013, the Company concluded that no impairment charge was necessary in 2013. The carrying value of the Henri Bendel long-lived stores assets was $5 million and $6 million as of February 1, 2014 and February 2, 2013, respectively.

- 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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