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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Carrying Amount of Goodwill

The carrying amount of goodwill at April 30, 2022 and May 1, 2021, was as follows:

 

 

 

April 30,
2022

 

 

May 1,
2021

 

 

 

(In millions)

 

Goodwill, gross

 

$

643.8

 

 

$

643.8

 

Accumulated impairment

 

 

(481.8

)

 

 

(481.8

)

Goodwill, net

 

$

162.0

 

 

$

162.0

 

Schedule of Carrying Amount and Accumulated Amortization of Identifiable Intangible Assets

The carrying amount and accumulated amortization of identifiable intangible assets at April 30, 2022 and May 1, 2021 was as follows:

 

 

 

 

 

April 30, 2022

 

 

May 1, 2021

 

 

 

Estimated
Life
in Years

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

 

 

 

(In millions)

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

JOANN trade name

 

 

$

325.0

 

 

$

 

 

$

325.0

 

 

$

 

Joann.com domain name

 

 

 

10.0

 

 

 

 

 

 

10.0

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Creativebug trade name

 

10

 

 

0.1

 

 

 

(0.1

)

 

 

0.1

 

 

 

 

Technology

 

3

 

 

5.3

 

 

 

(0.3

)

 

 

 

 

 

 

Customer relationships

 

16

 

 

110.0

 

 

 

(76.4

)

 

 

110.0

 

 

 

(69.6

)

Total intangible assets

 

 

 

$

450.4

 

 

$

(76.8

)

 

$

445.1

 

 

$

(69.6

)