Lease Termination and Impairment Charges

3 Months Ended

Jun. 02, 2012

Lease Termination and Impairment Charges

Lease Termination and Impairment Charges

3. Lease Termination and Impairment Charges

        Lease termination and impairment charges consist of amounts as follows:

	Thirteen Week Period Ended
	June 2, 2012		May 28, 2011
Impairment charges	$	495	$	734
Lease termination charges		11,648		16,356
	$	12,143	$	17,090

Impairment Charges

        These amounts include the write-down of long-lived assets at locations that were assessed for impairment because of management's intention to relocate or close the location or because of changes in circumstances that indicated the carrying value of an asset may not be recoverable.

Lease Termination Charges

        As part of the Company's ongoing business activities, the Company assesses stores and distribution centers for potential closure or relocation. Decisions to close or relocate stores or distribution centers in future periods would result in lease termination charges, lease exit costs and inventory liquidation charges, as well as impairment of assets at these locations. The following table reflects the closed store and distribution center charges that relate to new closures, changes in assumptions and interest accretion:

	Thirteen Week Period Ended
	June 2, 2012			May 28, 2011
Balance—beginning of period	$	367,864		$	405,350
Provision for present value of noncancellable lease payments of closed stores		3,574			864
Changes in assumptions about future sublease income, terminations and changes in interest rates		2,057			9,363
Interest accretion		6,056			6,944
Cash payments, net of sublease income		(20,968	)		(26,078	)
Balance—end of period	$	358,583		$	396,443