Property and Equipment (Tables)

12 Months Ended

Jan. 28, 2024

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 28, 2024		January 29, 2023
Capitalized Software	$	1,048,023	$	1,097,914
Leasehold improvements	880,164		895,732
Fixtures and equipment	789,096		933,922
Land and buildings	181,089		180,923
Construction in progress 1	93,229		61,455
Corporate systems projects in progress	31,739		49,444
Total	3,023,340		3,219,390
Accumulated depreciation	(2,010,151)		(2,154,009)
Property and equipment, net	$	1,013,189	$	1,065,381

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.