Dollar General 2008 Annual Report Download - page 88

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86
4. Property and equipment
Property and equipment is recorded at cost and summarized as follows:
(In thousands)
Successor
January 30,
2009
February 1,
2008
Land and land improvements
$
137,779
$
137,539
Buildings
518,933
516,482
Leasehold improvements
117,846
87,343
Furniture, fixtures and equipment
781,425
645,376
Construction in progress
5,025
2,823
1,561,008
1,389,563
Less accumulated depreciation and amortization
292,048
115,318
Net property and equipment
$
1,268,960
$
1,274,245
Depreciation expense related to property and equipment was approximately $190.5
million for 2008, $116.9 million for the 2007 Successor period, $83.5 million for the 2007
Predecessor period, and $199.6 million for 2006. Amortization of capital lease assets is included
in depreciation expense.
5. Income taxes
The provision (benefit) for income taxes consists of the following:
Successor
Predecessor
(In thousands)
2008
March 6, 2007
through
February 1, 2008
February 3, 2007
through
July 6, 2007
2006
Current:
Federal
$
10,489
$
(25,726)
$
31,114
$
101,919
Foreign
1,084
409
495
1,200
State
1,214
4,306
1,258
17,519
12,787
(21,011)
32,867
120,638
Deferred:
Federal
64,403
22,157
(18,750)
(34,807)
Foreign
(3)
-
-
13
State
9,034
(2,921)
(2,124)
(3,424)
73,434
19,236
(20,874)
(38,218)
$
86,221
$
(1,775)
$
11,993
$
82,420