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Goodwill and Intangible Assets
3 Months Ended
May 01, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill relates to the acquisition of Dell by Dell Technologies and represents the excess of the purchase price attributable to Secureworks over the fair value of the assets acquired and liabilities assumed. There were no additions, adjustments or impairments to goodwill during the periods presented. Accordingly, goodwill totaled $416.5 million as of May 1, 2020 and January 31, 2020.

Goodwill and indefinite-lived intangible assets are tested for impairment on an annual basis during the third fiscal quarter of each fiscal year, or earlier if an indicator of impairment occurs. The Company completed the most recent annual impairment test in the third quarter of fiscal 2020 by performing a qualitative assessment of goodwill at the reporting unit level, as well as the Company's indefinite-lived intangible asset. In performing this qualitative assessment, the Company evaluated events and circumstances since the date of the last quantitative impairment test, including the results of that test, macroeconomic conditions, industry and market conditions, key financial metrics and the overall financial performance of the Company. After assessing the totality of the events and circumstances, the Company determined that it was not more likely than not that the fair value of the Secureworks reporting unit was less than its carrying amount and, therefore, that the first step of the quantitative goodwill impairment test was unnecessary. Additionally, based on the qualitative assessment performed in the third quarter of fiscal 2020, the Company determined that it was not more likely than not that the fair value of the other indefinite-lived intangible asset was less than its carrying amount and, therefore, that the first step of the quantitative goodwill impairment test was unnecessary. Further, no triggering events have subsequently transpired that would indicate a potential impairment subsequent to the test date through May 1, 2020.
Intangible Assets
The Company's intangible assets as of May 1, 2020 and January 31, 2020 were as follows:
 
 
May 1, 2020
 
January 31, 2020
 
 
Gross
 
Accumulated
Amortization
 
Net
 
Gross
 
Accumulated
Amortization
 
Net
 
 
(in thousands)
Customer relationships
 
$
189,518

 
$
(94,770
)
 
$
94,748

 
$
189,518

 
$
(91,246
)
 
$
98,272

Technology
 
137,371

 
(89,168
)
 
48,203

 
137,371

 
(85,709
)
 
51,662

Finite-lived intangible assets
 
326,889

 
(183,938
)
 
142,951

 
326,889

 
(176,955
)
 
149,934

Trade name
 
30,118

 

 
30,118

 
30,118

 

 
30,118

Total intangible assets
 
$
357,007

 
$
(183,938
)
 
$
173,069

 
$
357,007

 
$
(176,955
)
 
$
180,052



Amortization expense related to finite-lived intangible assets was approximately $7.0 million and $6.9 million for each of the three months ended May 1, 2020 and May 3, 2019, respectively. Amortization expense is included within cost of revenue and
general and administrative expense in the Condensed Consolidated Statements of Operations. There were no impairment charges related to intangible assets during the three months ended May 1, 2020 or May 3, 2019.