Goodwill And Intangible Assets

6 Months Ended

Jul. 28, 2012

Goodwill And Intangible Assets [Abstract]

Note 7

Goodwill and Intangible Assets

Goodwill and intangible assets were attributable to the Company's operating segments as follows:



($ thousands)	July 28, 2012			July 30, 2011		January 28, 2012

Intangible Assets
Famous Footwear	$	2,800		$	2,800		$	2,800
Wholesale Operations		142,003			162,975			155,003
Specialty Retail		200			200			200
Total intangible assets		145,003			165,975			158,003
Accumulated amortization		(53,533	)		(52,922	)		(57,017	)
Total intangible assets, net		91,470			113,053			100,986
Goodwill
Wholesale Operations		39,604			61,246			39,604
Total goodwill		39,604			61,246			39,604
Goodwill and intangible assets, net	$	131,074		$	174,299		$	140,590

Intangible assets, primarily owned trademarks, of $42.5 million as of July 28, 2012, July 30, 2011 and January 28, 2012 are not subject to amortization. All remaining intangible assets, primarily owned and licensed trademarks, are subject to amortization and have useful lives ranging from four to 20 years as of July 28, 2012. Amortization expense related to intangible assets was $1.8 million and $2.1 million for the thirteen weeks and $3.7 million and $4.2 million for the twenty-six weeks ended July 28, 2012 and July 30, 2011, respectively.

Effective July 12, 2012, the Company terminated the Etienne Aigner license agreement, due to a dispute with the licensor. In conjunction with the termination, in the second quarter of 2012, the Company recognized an impairment charge of $5.8 million, to reduce the remaining unamortized value of the licensed trademark intangible asset to zero. The intangible asset had an original value of $13.0 million and as of the termination date, the remaining unamortized value of the license trademark was $5.8 million.

The decrease in the goodwill and intangible assets of the Wholesale Operations segment from July 30, 2011 to January 28, 2012 and July 28, 2012 is primarily related to the Company's sale of TBMC on October 25, 2011 and the impairment of the Etienne Aigner licensed trademark intangible. The Company's sale of TBMC resulted in the elimination of $21.6 million of goodwill and $8.0 of intangible assets.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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