Property and Equipment (Tables)

12 Months Ended

Jan. 29, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment is stated at cost. Depreciation is computed using the straight-line method over the following estimated useful lives of the assets:

Leasehold improvements	Shorter of estimated useful life or lease term (generally 5 – 22 years)
Fixtures and equipment	2 – 20 years
Buildings and building improvements	10 – 40 years
Capitalized software	2 – 10 years

Property and equipment consists of the following:

	As of
(In thousands)	January 29, 2023		January 30, 2022
Capitalized Software	$	1,097,914	$	980,876
Leasehold improvements	895,732		882,320
Fixtures and equipment	933,922		863,353
Land and buildings	180,923		179,843
Corporate systems projects in progress	49,444		57,604
Construction in progress 1	61,455		19,112
Total	3,219,390		2,983,108
Accumulated depreciation	(2,154,009)		(2,062,335)
Property and equipment, net	$	1,065,381	$	920,773

1 Construction in progress primarily consists of fixtures and equipment and leasehold improvements related to new, expanded or remodeled distribution centers and retail stores where construction had not been completed as of year-end.