PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2017

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE C — PROPERTY AND EQUIPMENT

Property and equipment consist of:

		January 31,
		2017			2016
		(In thousands)
Machinery and equipment	5 years		$	1,376		$	1,820
Leasehold improvements	3 – 13 years			82,658			78,082
Furniture and fixtures	3 – 5 years			79,292			70,899
Computer equipment and software	2 – 3 years			15,907			12,909
				179,233			163,710
Less: accumulated depreciation				76,662			60,131
			$	102,571		$	103,579

The Company had fixed asset write offs of approximately $3.2 million and $618,000, net of accumulated depreciation, for the years ended January 31, 2017 and 2016. Depreciation expense was $29.6 million, $23.0 million and $17.9 million for the years ended January 31, 2017, 2016 and 2015, respectively. For the year ended January 31, 2017, the Company recorded a $10.5 million impairment charge on leasehold improvements and furniture and fixtures of certain of our Wilsons and G.H. Bass stores as a result of the stores’ performance.

The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation process, the Company first compares the carrying value of the asset to the estimated future cash flows (undiscounted and without interest charges - plus proceeds expected from disposition, if any). If the estimated undiscounted cash flows are less than the carrying value of the asset, the Company needs to determine the fair value of the assets. The Company compares the carrying value of the asset to the asset’s estimated fair value. If the fair value is less than the carrying value, the Company recognizes an impairment loss. The carrying amount of the asset is reduced to the estimated fair value based on a discounted cash flow valuation. Assets to be disposed of are reported at the lower of the carrying amount of the asset or fair value less costs to sell. The Company reviews retail store assets for potential impairment based on historical cash flows, lease termination provisions and forecasted future retail store operating results. If the Company recognizes an impairment loss for a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis and will be depreciated (amortized) over the remaining useful life of that asset.