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Long-Lived Assets | 12 Months Ended
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Jan. 30, 2021
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net | Long-Lived Assets The following table provides details of property and equipment, net as of January 30, 2021 and February 1, 2020:
| January 30, 2021 |  | February 1, 2020
| (in millions)
Land and Improvements | $ | 115 |  |  | $ | 116 |
Buildings and Improvements | 500 |  |  | 496 |
Furniture, Fixtures, Software and Equipment | 3,771 |  |  | 3,861 |
Leasehold Improvements | 1,780 |  |  | 2,018 |
Construction in Progress | 38 |  |  | 122 |
Total | 6,204 |  |  | 6,613 |
Accumulated Depreciation and Amortization | (4,109) |  |  | (4,127) |
Property and Equipment, Net | $ | 2,095 |  |  | $ | 2,486 |
Depreciation expense was $521 million in 2020, $588 million in 2019 and $590 million in 2018. Long-Lived Store Assets In 2020, the Company executed a rationalization of the Victoria’s Secret company-operated store footprint. The Company permanently closed 241 stores in North America in 2020. Given the closures in 2020 as well as the negative operating results of certain Victoria's Secret stores in 2020, 2019 and 2018, the Company reviewed the long-lived store assets for potential impairment in all periods presented. The Company determined that the estimated undiscounted future cash flows were less than the carrying values for certain Victoria's Secret asset groups and, as a result, determined the estimated fair values of the store asset groups using estimated discounted future cash flows and estimated market rental rates. Long-lived store asset impairment charges are included within the Victoria's Secret segment, and principally included in Costs of Goods Sold, Buying and Occupancy in the Consolidated Statements of Income (Loss). As discussed in Note 5, "Restructuring Activities" the Company recorded a $25 million non-cash pre-tax impairment charge to fully write-off all remaining long-lived store assets in the U.K. This charge is included in General, Administrative and Store Operating Expenses in the 2020 Consolidated Statement of Income. The following table provides pre-tax long-lived store asset impairment charges included in the Consolidated Statement of Income (Loss) for 2020, 2019 and 2018:
| 2020 |  | 2019 |  | 2018
| (in millions)
Store Asset Impairment | $ | 136 |  |  | $ | 198 |  |  | $ | 101 |
Operating Lease Asset Impairment | 118 |  |  | 65 |  |  | — |
Total Impairment | $ | 254 |  |  | $ | 263 |  |  | $ | 101 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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