Goodwill and Intangible Assets

6 Months Ended

Jul. 29, 2017

Goodwill and Intangible Assets Disclosure [Abstract]



Note 8	Goodwill and Intangible Assets

Goodwill and intangible assets were as follows:



($ thousands)	July 29, 2017			July 30, 2016			January 28, 2017
Intangible Assets
Famous Footwear	$	2,800		$	2,800		$	2,800
Brand Portfolio	285,988			183,068			286,488
Total intangible assets	288,788			185,868			289,288
Accumulated amortization	(74,674		)	(70,762		)	(72,628		)
Total intangible assets, net	214,114			115,106			216,660
Goodwill
Brand Portfolio	127,081			13,954			127,098
Total goodwill	127,081			13,954			127,098
Goodwill and intangible assets, net	$	341,195		$	129,060		$	343,758

As further described in Note 3 to the condensed consolidated financial statements, the Company acquired Allen Edmonds on December 13, 2016. The allocation of the purchase price resulted in incremental intangible assets of $102.9 million, consisting of trademarks and customer relationships of $97.5 million and $5.4 million, respectively, and incremental goodwill of $113.1 million.

The Company's intangible assets as of July 29, 2017, July 30, 2016 and January 28, 2017 were as follows:



($ thousands)		July 29, 2017
	Estimated Useful Lives	Original Cost			Accumulated Amortization		Net Carrying Value
Trademarks	15-40 years	$	165,288		$	74,449	$	90,839
Trademarks	Indefinite	118,100		⁽¹⁾	—		118,100
Customer relationships	15 years	5,400		⁽¹⁾	225		5,175
		$	288,788		$	74,674	$	214,114



		July 30, 2016
	Estimated Useful Lives	Original Cost		Accumulated Amortization		Net Carrying Value
Trademarks	15-40 years	$	165,068	$	70,762	$	94,306
Trademarks	Indefinite	20,800		—		20,800
		$	185,868	$	70,762	$	115,106



		January 28, 2017
	Estimated Useful Lives	Original Cost			Accumulated Amortization		Net Carrying Value
Trademarks	15-40 years	$	165,288		$	72,604	$	92,684
Trademarks	Indefinite	117,900		⁽¹⁾	—		117,900
Customer relationships	15 years	6,100		⁽¹⁾	24		6,076
		$	289,288		$	72,628	$	216,660
(1) The Allen Edmonds trademark and customer relationships intangible assets were acquired in the Allen Edmonds acquisition, as further discussed in Note 3 to the condensed consolidated financial statements. Immaterial adjustments attributable to the purchase price allocation were recorded during the thirteen weeks ended April 29, 2017, resulting in an adjustment to the original cost.

Amortization expense related to intangible assets was $1.0 million and $0.9 million for the thirteen weeks ended July 29, 2017 and July 30, 2016, respectively, and $2.0 million and $1.8 million for the twenty-six weeks ended July 29, 2017 and July 30, 2016, respectively.

- 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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