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Long-Lived Assets
 12 Months Ended
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 Improvements500 496 
Furniture, Fixtures, Software and Equipment3,771 3,861 
Leasehold Improvements1,780 2,018 
Construction in Progress38 122 
Total6,204 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:
202020192018
(in millions)
Store Asset Impairment$136 $198 $101 
Operating Lease Asset Impairment118 65 — 
Total Impairment$254 $263 $101