PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jan. 30, 2016

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of:



(in thousands)	January 30, 2016			January 31, 2015
Land	$	37,451		$	37,473
Buildings	287,081			286,820
Furniture, fixtures and equipment	682,013			653,929
Information technology	479,269			427,879
Leasehold improvements	1,283,613			1,338,206
Construction in progress	19,875			49,836
Other	3,135			3,107
Total	$	2,792,437		$	2,797,250
Less: Accumulated depreciation and amortization	(1,898,259		)	(1,830,249		)
Property and equipment, net	$	894,178		$	967,001

Long-lived assets, primarily comprised of property and equipment, are tested for impairment periodically or whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Factors used in the evaluation include, but are not limited to, management’s plans for future operations, recent operating results, and undiscounted projected cash flows.

Fair value of the Company's store-related assets is determined at the individual store level, primarily using a discounted cash flow model that utilizes Level 3 inputs. The estimation of future cash flows from operating activities requires significant estimates of factors that include future sales, gross margin performance and operating expenses. In instances where the discounted cash flow analysis indicates a negative value at the store level, the market exit price based on historical experience, and other comparable market data where applicable, is used to determine the fair value by asset type.

In Fiscal 2015, the Company incurred non-cash asset impairment charges of $18.2 million as it was determined that the carrying value of certain assets would not be recoverable and exceeded fair value. The asset impairment charges primarily related to the Company's Abercrombie & Fitch flagship store in Hong Kong.

In Fiscal 2014, the Company incurred non-cash asset impairment charges of $45.0 million, excluding impairment charges incurred in connection with the Gilly Hicks restructuring, as it was determined that the carrying value of certain assets would not be recoverable and exceeded fair value. The asset impairment charges primarily related to the Company's Abercrombie & Fitch flagship store locations in Tokyo, Japan and Seoul, Korea, as well as nine abercrombie kids stores and nine Hollister stores. Additionally, in connection with the Company's plan to sell its corporate aircraft, the asset was classified as available-for-sale and the Company incurred charges of approximately $11.3 million to record the expected loss on the disposal of the asset. The fair value of the Company's corporate aircraft was determined using a market approach utilizing level 2 inputs.

In Fiscal 2013, the Company incurred non-cash asset impairment charges of $46.7 million, excluding impairment charges incurred in connection with the Gilly Hicks restructuring, as a result of the impact of sales trends on the profitability of a number of stores identified in the third quarter of Fiscal 2013 as well as fiscal year-end review of store-related long-lived assets. The non-cash asset impairment charges primarily related to 23 Abercrombie & Fitch stores, four abercrombie kids stores, and 70 Hollister stores. In addition, the Company incurred charges of $37.9 million related to the Gilly Hicks restructuring.

The Company had $37.3 million and $40.1 million of construction project assets in property and equipment, net at January 30, 2016 and January 31, 2015, respectively, related to the construction of buildings in certain lease arrangements where the Company is deemed to be the owner of the construction project.