Property and Equipment, Net

12 Months Ended

Feb. 02, 2013

Property, Plant and Equipment [Abstract]

The following table provides details of property and equipment, net as of February 2, 2013 and January 28, 2012:



	February 2, 2013			January 28, 2012
	(in millions)
Land	$	60		$	61
Buildings and Improvements	402			403
Furniture, Fixtures, Software and Equipment	2,715			2,528
Leaseholds Improvements	1,359			1,236
Construction in Progress	186			159
Total	4,722			4,387
Accumulated Depreciation and Amortization	(2,919		)	(2,743		)
Property and Equipment, Net	$	1,803		$	1,644

Depreciation expense was $386 million in 2012 and $387 million in both 2011 and 2010.

In the fourth quarter of 2012, the Company concluded that the continued negative operating results of the Henri Bendel business was an indicator of potential impairment for the Henri Bendel long-lived stores assets. The Company calculated the impairment by comparing the estimated discounted cash flows at the individual store level to its respective carrying value and recognized an impairment charge of $27 million. This impairment charge is included in Cost of Goods Sold, Buying & Occupancy on the 2012 Consolidated Statement of Income. The remaining carrying value of the Henri Bendel long-lived stores assets subsequent to the impairment is $6 million as of February 2, 2013.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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