Banana Republic 2014 Annual Report Download - page 59

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47
We did not record any impairment charges on our cash equivalents or short-term investments in fiscal 2014,
2013, or 2012.
Other Current Assets
Other current assets consist of the following:
($ in millions) January 31,
2015 February 1,
2014
Accounts receivable $ 275 $ 462
Prepaid minimum rent and occupancy expenses 149 155
Prepaid income taxes 148 84
Current portion of deferred tax assets 142 179
Derivative financial instruments 134 58
Other 65 54
Other current assets $ 913 $ 992
Property and Equipment
Property and equipment are stated at cost less accumulated depreciation and consist of the following:
($ in millions) January 31,
2015 February 1,
2014
Leasehold improvements $ 3,220 $ 3,211
Furniture and equipment 2,560 2,493
Software 1,349 1,173
Land, buildings, and building improvements 1,009 1,106
Construction-in-progress 167 176
Property and equipment, at cost 8,305 8,159
Less: Accumulated depreciation (5,532) (5,401)
Property and equipment, net of accumulated depreciation $ 2,773 $ 2,758
Depreciation expense for property and equipment was $560 million, $530 million, and $554 million for fiscal 2014,
2013, and 2012, respectively.
Interest of $7 million, $8 million, and $6 million related to assets under construction was capitalized in fiscal 2014,
2013, and 2012, respectively.
We recorded a charge for the impairment of long-lived assets of $10 million, $1 million, and $8 million for fiscal
2014, 2013, and 2012, respectively, which is recorded in operating expenses in the Consolidated Statements of
Income.
Other Long-Term Assets
Other long-term assets consist of the following:
($ in millions) January 31,
2015 February 1,
2014
Goodwill $ 180 $ 180
Long-term income tax-related assets 124 185
Trade names 92 92
Other 204 204
Other long-term assets $ 600 $ 661