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Goodwill and Intangible Assets
 12 Months Ended
Jan. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill
The carrying amount of the Company’s goodwill included in its Balance Sheets is as follows:
January 28, 2024January 29, 2023
Gross Goodwill$1,561 $1,535 
Accumulated Impairment— — 
Net Goodwill$1,561 $1,535 
The changes in the carrying amount of goodwill are as follows:
Fiscal Years Ended
January 28, 2024January 29, 2023
Beginning Balance$1,535 $1,515 
Goodwill acquired during the year25 20 
Goodwill adjusted during the year
1 — 
Ending balance$1,561 $1,535 
Goodwill acquired during fiscal 2023 and fiscal 2022 was related to the Fiscal 2023 Acquisitions and Fiscal 2022 Acquisitions, respectively, as further discussed in Note 4.
During the fiscal 2023 and fiscal 2022 annual goodwill impairment assessment, the Company performed a qualitative assessment. The qualitative assessment included evaluating economic, industry, regulatory and company specific factors that could impact the reporting unit fair value. These factors included historical and projected financial metrics (including net sales, operating cash flow and discount rate trends), public equity market trends and evaluation of the markets the Company serves. Based on the assessment it was determined that it is not “more likely than not” that the fair value of its reporting unit is less than the carrying value of its reporting unit in fiscal 2023 and fiscal 2022. Therefore, no further assessment was necessary.
During the fiscal 2021 annual assessments, the Company tested goodwill for impairment by performing a quantitative assessment that compared the fair value of the reporting unit with its carrying value. There was no goodwill impairment during fiscal 2023, fiscal 2022 or fiscal 2021.
The Company’s analyses were based in part on the expectation of future market conditions, future net sales and operating cash flow growth and discount rates that would be used by market participants in an arms-length transaction. Should actual performance or expectations of long-term assumptions be lower than presently expected, the Company’s goodwill could be impaired.
Intangible Assets
The Company’s intangible assets included in its Balance Sheets consist of the following:
January 28, 2024January 29, 2023
Gross IntangibleAccumulated AmortizationNet IntangibleGross IntangibleAccumulated AmortizationNet Intangible
Customer relationships$1,496 $718 $778 $1,390 $597 $793 
Other intangible assets10 4 6 5 3 2 
Total$1,506 $722 $784 $1,395 $600 $795 
Amortization expense related to intangible assets was as follows:
Fiscal Years Ended
January 28, 2024January 29, 2023January 30, 2022
Amortization expense$122 $120 $120 
There were no intangible asset impairments during fiscal 2023, fiscal 2022 or fiscal 2021.
The estimated aggregate amortization expense on intangible assets owned by the Company as of January 28, 2024 was expected to be as follows:
Fiscal 2024
$123 
Fiscal 2025
113 
Fiscal 2026
104 
Fiscal 2027
96 
Fiscal 2028
88