Property and Equipment - Net

12 Months Ended

Feb. 01, 2020

Property, Plant and Equipment [Abstract]

Property and equipment - net consist of:



(In thousands)	February 1, 2020		February 2, 2019
Land and land improvements	$	63,691	$	61,200
Buildings and leasehold improvements	1,034,458		1,078,142
Fixtures and equipment	884,051		784,170
Computer software costs	196,449		179,071
Construction-in-progress	22,038		78,580
Property and equipment - cost	2,200,687		2,181,163
Less accumulated depreciation and amortization	1,351,540		1,358,825
Property and equipment - net	$	849,147	$	822,338

Property and equipment - cost includes $27.5 million and $29.5 million at February 1, 2020 and February 2, 2019, respectively, to recognize assets from finance or capital leases. Accumulated depreciation and amortization includes $20.1 million and $17.9 million at February 1, 2020 and February 2, 2019, respectively, related to finance or capital leases. Additionally, we had zero and $144.5 million in assets from a synthetic lease for our new distribution center in Apple Valley, California at February 1, 2020 and February 2, 2019, respectively.

During 2019, 2018, and 2017, respectively, we invested $265.2 million, $232.4 million, and $142.7 million of cash in capital expenditures and we recorded $135.0 million, $125.0 million, and $117.1 million of depreciation expense.

We incurred $0.4 million, $0.1 million, and zero in asset impairment charges, excluding impairment of right-of-use assets (see note 5), in 2019, 2018, and 2017, respectively. In 2019, we impaired the value of property and equipment assets at two stores as a result of our annual store impairment review. During 2018, we wrote down the value of an asset held for sale. In 2017, we did not impair the value of long-lived assets at any stores as a result of our annual store impairment review.

Asset impairment charges are included in selling and administrative expenses in our accompanying consolidated statements of operations and comprehensive income. 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.