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PROPERTY AND EQUIPMENT
 12 Months Ended
Jan. 30, 2021
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

10.   PROPERTY AND EQUIPMENT

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Property and equipment consisted of the following:

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​

​

​

​

​

​

​

($ thousands)

    

January 30, 2021

    

February 1, 2020

Land and buildings

​

$

53,561

​

$

52,638

Leasehold improvements

​

 

208,939

​

 

241,209

Technology equipment

​

 

49,105

​

 

56,480

Machinery and equipment

​

 

98,862

​

 

98,715

Furniture and fixtures

​

 

126,405

​

 

140,233

Construction in progress

​

 

6,773

​

 

4,704

Property and equipment

​

 

543,645

​

 

593,979

Allowances for depreciation

​

 

(371,208)

​

 

(369,133)

Property and equipment, net

​

$

172,437

​

$

224,846

​

Useful lives of property and equipment are as follows:

​

​

​

​

​

    

Years

Buildings

 

5 - 30

Leasehold improvements

​

5 - 20

Technology equipment

 

2 - 7

Machinery and equipment

 

4 - 20

Furniture and fixtures

 

3 - 10

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The Company recorded charges for impairment of $56.3 million, $5.9 million and $3.7 million in 2020, 2019 and 2018, respectively, primarily for operating lease right-of-use assets, leasehold improvements and furniture and fixtures in the Company’s retail stores. Of the $56.3 million of impairment charges in 2020, $55.3 million is reflected in restructuring and other special charges, and $1.0 million is reflected in selling and administrative expenses. All of the charges in 2019 and 2018 are presented in selling and administrative expenses. Fair value was based on estimated future cash flows to be generated by retail stores, discounted at a market rate of interest. Refer to Note 5, Note 13 and Note 15 to the consolidated financial statements for further discussion of these impairment charges.

Interest costs for major asset additions are capitalized during the construction or development period and amortized over the lives of the related assets. The Company capitalized interest of $0.6 million and $0.2 million in 2019 and 2018, respectively, related to the new company-operated Brand Portfolio warehouse facilities in California, with no corresponding interest capitalized in 2020.