Property and Equipment, Net

12 Months Ended

Feb. 01, 2020

Property, Plant and Equipment [Abstract]

The following table provides details of property and equipment, net as of February 1, 2020 and February 2, 2019:



	February 1, 2020			February 2, 2019
	(in millions)
Land and Improvements	$	116		$	116
Buildings and Improvements	496			492
Furniture, Fixtures, Software and Equipment	3,861			3,725
Leasehold Improvements	2,018			2,277
Construction in Progress	122			123
Total	6,613			6,733
Accumulated Depreciation and Amortization	(4,127		)	(3,915		)
Property and Equipment, Net	$	2,486		$	2,818

Depreciation expense was $588 million in 2019, $590 million in 2018 and $571 million in 2017.

Long-Lived Store Assets

In 2019 and 2018, the Company concluded that the negative operating results for certain of its Victoria's Secret stores were an indicator of potential impairment of the related store asset groups. The Company determined that the estimated undiscounted future cash flows were less than the carrying values and, as a result, determined the estimated fair values of the store asset groups using estimated discounted future cash flows and estimated market rental rates. Long-lived store asset impairment charges are included in Costs of Goods Sold, Buying & Occupancy in the Consolidated Statements of Income (Loss).

The following table provides long-lived store asset impairment charges included in the Consolidated Statements of Income (Loss) for 2019 and 2018:



	Store Asset Impairment				Operating Lease Asset Impairment				Total Impairment
	2019		2018		2019		2018		2019		2018
	(in millions)
Victoria's Secret (a)	$	47	$	70	$	4	$	—	$	51	$	70
Victoria's Secret and Bath & Body Works International (b)	151		31		61		—		212		31
Total	$	198	$	101	$	65	$	—	$	263	$	101

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(a)	Includes stores in the U.S. and Canada.

(b)

Includes stores in Greater China, the U.K. and Ireland.