Goodwill and Intangible Assets

12 Months Ended

Jan. 29, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets:

Goodwill

Goodwill had a carrying value of $2,787 million and $2,139 million as of January 29, 2021 and January 31, 2020, respectively. Goodwill increased by $648 million during the twelve months ended January 29, 2021, due to the acquisition of Unisys Federal ($654 million) as discussed in Note 4, partially offset by goodwill allocated to the divestiture of non-strategic international operations ($6 million) as discussed in Note 1. There were no impairments of goodwill during the periods presented.

Intangible Assets

Intangible assets, all of which were finite-lived, consisted of the following:


	January 29, 2021						January 31, 2020
	Gross carrying value		Accumulated amortization		Net carrying value		Gross carrying value		Accumulated amortization		Net carrying value
	(in millions)
Customer relationships	$	1,371	$	(241)	$	1,130	$	851	$	(142)	$	709

Backlog	47		(41)		6		—		—		—
Developed technology	9		(7)		2		2		—		2
Total intangible assets	$	1,427	$	(289)	$	1,138	$	853	$	(142)	$	711

Amortization expense related to intangible assets was $147 million, $95 million and $24 million for fiscal 2021, 2020 and 2019, respectively. There were no intangible asset impairment losses during the periods presented.

As of January 29, 2021, the estimated future annual amortization expense related to intangible assets is as follows:


Fiscal Year Ending	(in millions)
2022	$	110
2023	106
2024	103
2025	103
2026	103
Thereafter	613
Total	$	1,138

Actual amortization expense in future periods could differ from these estimates as a result of future acquisitions, divestitures, impairments and other factors.