Property and Equipment - Net

12 Months Ended

Jan. 28, 2017

Property, Plant and Equipment [Abstract]

Property and equipment - net consist of:



(In thousands)	January 28, 2017		January 30, 2016
Land and land improvements	$	50,906	$	51,523
Buildings and leasehold improvements	853,324		840,931
Fixtures and equipment	743,212		737,169
Computer software costs	165,209		132,101
Construction-in-progress	18,653		30,974
Property and equipment - cost	1,831,304		1,792,698
Less accumulated depreciation and amortization	1,305,453		1,232,774
Property and equipment - net	$	525,851	$	559,924

Property and equipment - cost includes $31.0 million and $31.5 million at January 28, 2017 and January 30, 2016, respectively, to recognize assets from capital leases. Accumulated depreciation and amortization includes $11.1 million and $6.2 million at January 28, 2017 and January 30, 2016, respectively, related to capital leases.

During 2016, 2015, and 2014, respectively, we invested $89.8 million, $126.0 million, and $93.5 million of cash in capital expenditures and we recorded $120.4 million, $122.7 million, and $119.7 million of depreciation expense.

We incurred $0.1 million, $0.4 million, and $3.5 million in asset impairment charges in 2016, 2015, and 2014, respectively. During 2016, we wrote down the value of long-lived assets at one store identified as part of our annual store impairment review. In 2015, we wrote down the value of long-lived assets at two stores identified as part of our annual store impairment review. The charges in 2014 were primarily related to our corporate aircraft, as we made the decision to no longer own and operate corporate aircraft and entered into sales agreements for both our corporate aircraft. Additionally, we wrote down the value of long-lived assets at three stores identified as part of our annual store impairment review.

Asset impairment charges are included in selling and administrative expenses in our accompanying consolidated statements of operations. We perform annual impairment reviews of our long-lived assets at the store level. When we perform the annual impairment reviews, we first determine which stores had impairment indicators present. We generally use actual historical cash flows to determine if stores had negative cash flows within the past two years. For each store with negative cash flows, we estimate future cash flows based on operating performance estimates specific to each store’s operations that are based on assumptions currently being used to develop our company level operating plans. If the net book value of a store’s long-lived assets is not recoverable by the expected future cash flows of the store, we estimate the fair value of the store's assets and recognize an impairment charge for the excess net book value of the store’s long-lived assets over their fair value.