Fixed Assets, net

12 Months Ended

Oct. 31, 2012

Note 5—Fixed Assets, net

Fixed assets consisted of the following as of the dates indicated:


	October 31,
In thousands	2012			2011
Furniture & other equipment⁽¹⁾	$	158,406		$	160,559
Leasehold improvements, gross⁽¹⁾		137,370			167,149
Computer software & equipment⁽¹⁾		109,138			107,238
Land use rights		34,953			40,213
Land and buildings⁽¹⁾		9,459			2,492
Construction in progress⁽¹⁾		22,428			15,723

		471,754			493,374
Accumulated depreciation and amortization		(233,441	)		(255,267	)

	$	238,313		$	238,107

⁽¹⁾	Certain prior year amounts have been reclassified to “Construction in progress” in order to be consistent with the current year presentation.

During fiscal 2012, 2011 and 2010, the Company recorded approximately $7 million, $12 million and $12 million, respectively, in fixed asset impairments, primarily related to underperforming retail stores. These stores were not generating positive cash flows and are not expected to become profitable in the future. As a result, the Company is working to close these stores as soon as practicable. Any charges associated with future rent commitments, net of expected sublease income, will be charged to future earnings upon store closure.

- 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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