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Property and Leases | 12 Months Ended
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Feb. 03, 2019
Property and Leases [Abstract] |
Property and Leases | PROPERTY AND LEASES Net Property and Equipment The components of net property and equipment follow.
in millions | February 3, 2019 |  | January 28, 2018
Land | $ | 8,363 |  |  | $ | 8,352 |
Buildings | 18,199 |  |  | 18,073 |
Furniture, fixtures, and equipment | 12,460 |  |  | 11,506 |
Leasehold improvements | 1,705 |  |  | 1,637 |
Construction in progress | 820 |  |  | 538 |
Capital leases | 1,392 |  |  | 1,308 |
Property and equipment, at cost | 42,939 |  |  | 41,414 |
Less accumulated depreciation and capital lease amortization | 20,564 |  |  | 19,339 |
Net property and equipment | $ | 22,375 |  |  | $ | 22,075 |
Depreciation and capital lease amortization expense, including depreciation expense included in cost of sales, follows.
in millions | Fiscal |  | Fiscal |  | Fiscal
2018 |  | 2017 |  | 2016
Depreciation and capital lease amortization expense | $ | 2,076 |  |  | $ | 1,983 |  |  | $ | 1,899 |
Leases We lease certain retail locations, office space, warehouse and distribution space, equipment, and vehicles. While most of the leases are operating leases, certain locations and equipment are leased under capital leases. As leases approach maturity, we consider various factors such as market conditions and the terms of any renewal options that may exist to determine whether we will renew or replace the lease. Short-term and long-term obligations for capital leases are included in the applicable long-term debt category based on maturity. Assets under capital leases (net of accumulated amortization) recorded in net property and equipment follow.
in millions | February 3, 2019 |  | January 28, 2018
Capital leases, net | $ | 856 |  |  | $ | 821 |
Certain lease agreements include escalating rents over the lease terms. Real estate taxes, insurance, maintenance, and operating expenses applicable to the leased property are our obligations under the lease agreements. Our total rent expense related to operating leases follows.
in millions | Fiscal |  | Fiscal |  | Fiscal
2018 |  | 2017 |  | 2016
Total rent expense | $ | 1,091 |  |  | $ | 1,053 |  |  | $ | 984 |
The approximate future minimum lease payments under capital and operating leases at February 3, 2019 follow.
in millions | Operating Leases |  | Capital Leases
Fiscal 2019 | $ | 976 |  |  | $ | 150 |
Fiscal 2020 | 912 |  |  | 167 |
Fiscal 2021 | 792 |  |  | 143 |
Fiscal 2022 | 682 |  |  | 142 |
Fiscal 2023 | 584 |  |  | 137 |
Thereafter | 3,090 |  |  | 970 |
| $ | 7,036 |  |  | 1,709 |
Less imputed interest |  |  | 660 |
Net present value of capital lease obligations |  |  | 1,049 |
Less current installments |  |  | 57 |
Long-term capital lease obligations, excluding current installments |  |  | $ | 992 |

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- Definition Property and Leases [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for properties and leases. + References No definition available. + Details
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