Kohl's 2014 Annual Report Download - page 47
Download and view the complete annual report
Please find page 47 of the 2014 Kohl's annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37 -
38 -
39 -
40 -
41 -
42 -
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
 |
 |
Property and equipment consist of the following:
Land
$ 1,095
Buildings and improvements:
Owned
7,713
Leased
1,845
Store fixtures and equipment
2,147
Computer hardware and software
1,033
Construction in progress
291
Total property and equipment, at cost
14,124
Less accumulated depreciation
(5,379)
Property and equipment, net
$ 8,745
Construction in progress includes land, building and 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 impairments were recorded in 2014, 2013, or 2012 as a result of the tests performed.
Accrued liabilities consist of the following:
Gift cards and merchandise return cards
$ 296
Payroll and related fringe benefits
112
Sales, property and use taxes
166
Credit card liabilities
109
Other
455
Accrued liabilities
$ 1,138
F-8