Asset Impairment (Notes)

3 Months Ended

May 02, 2020

Asset Impairment [Abstract]

Asset Impairment [Text Block]

Asset impairment charges for the thirteen weeks ended May 2, 2020 and May 4, 2019 were as follows:

	Thirteen Weeks Ended
(in thousands)	May 2, 2020		May 4, 2019
Operating lease right-of-use asset impairment	$	35,008	$	—
Property and equipment asset impairment	7,920		1,662
Total asset impairment	$	42,928	$	1,662

Asset impairment charges for the thirteen weeks ended May 2, 2020 were principally the result of the impact of COVID-19 on store cash flows and were related to certain of the Company’s stores across brands, geographies and store formats. The impairment charge reduced the carrying value of these stores’ assets to their estimated fair value of approximately $127.9 million, including $118.8 million related to operating lease right-of-use assets.

Asset impairment charges for the thirteen weeks ended May 4, 2019, related to certain of the Company’s mall-based stores. The impairment charge reduced the carrying value of these stores’ assets to their estimated fair value of approximately $2.8 million, all of which related to operating lease right-of-use assets.