Kohl's 2015 Annual Report Download - page 47

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Table of Contents




Property and equipment consist of the following:



Land  
$ 1,103
Buildings and improvements:
Owned 
7,844
Leased 
1,848
Fixtures and equipment 
2,032
Computer hardware and software 
1,368
Construction in progress
210
Total property and equipment, at cost 
14,405
Less accumulated depreciation 
(5,890)
Property and equipment, net  
$ 8,515
Construction in progress includes buildings, building improvements, and computer hardware and software which is not ready for its intended use.
Property and equipment is recorded at cost, less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated
useful lives of the assets. Leased property and improvements to leased property are amortized on a straight-line basis over the term of the lease or useful life of
the asset, whichever is less.
The annual provisions for depreciation and amortization generally use the following ranges of useful lives:
Buildings and improvements 5-40 years
Store fixtures and equipment 3-15 years
Computer hardware and software 3-8 years

All property and equipment and other long-lived assets are reviewed for potential impairment when events or changes in circumstances indicate that
the asset’s carrying value may not be recoverable. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash
flows attributable to such assets is less than the carrying value of the assets. A potential impairment has occurred if projected future undiscounted cash flows
are less than the carrying value of the assets. No material impairments were recorded in 2015, 2014, or 2013 as a result of the tests performed.
F-8