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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Nov. 02, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The following table presents the changes in the carrying amount of our goodwill:
in millions
Primary
Other (3)
Consolidated
Goodwill, balance at February 2, 2025
$8,450 $11,025 $19,475 
Acquisitions (1)
62 2,714 2,776 
Other (2)
18 (2)16 
Goodwill, balance at November 2, 2025
$8,530 $13,737 $22,267 
—————
(1)    Activity includes the preliminary determination of goodwill related to the GMS acquisition and other immaterial acquisitions completed during the nine months ended November 2, 2025. See Note 10 for details regarding the GMS acquisition.
(2)     Primarily reflects the net impact of foreign currency translation as well as immaterial measurement period adjustments related to acquisitions completed in the prior fiscal year.
(3)     Amounts presented in the Other column represent goodwill activity within our non-reportable operating segments.
During the third quarter of fiscal 2025, we completed our annual assessment of the recoverability of goodwill for our U.S., Canada, and Mexico reporting units that reside within our Primary segment. As the results of our most recent quantitative analysis in fiscal 2023 indicated that the fair value of each reporting unit substantially exceeded its respective carrying amount, we performed a qualitative assessment to determine if there were any indicators of impairment. Based on this assessment, we concluded that while there have been events and circumstances that have both positively and negatively impacted our reporting units, no single factor or combination of factors is an indicator that it is more likely than not that the fair value of any of these reporting units was less than its carrying amount.
We also completed our annual assessment of our SRS roofing and building products, landscape, and pool reporting units using a quantitative approach. The quantitative test for goodwill impairment was performed by determining the fair value of each reporting unit using a combination of discounted cash flow and market-based approaches. The results of our quantitative analysis indicated that the fair value of each reporting unit exceeded its respective carrying amount, including goodwill. Additionally, due to the proximity of the GMS acquisition date to our annual impairment assessment date, we concluded that there were no events or circumstances that would indicate that it is more likely than not that the fair value of the goodwill recognized in the acquisition was less than its carrying amount.
Intangible Assets
The following table presents information regarding our intangible assets:
November 2, 2025February 2, 2025
in millionsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Definite-Lived Intangible Assets:
Customer relationships$10,447 $(1,398)$9,049 $8,845 $(1,035)$7,810 
Trade names877 (159)718 610 (86)524 
Other11 (11)— 11 (11)— 
Indefinite-Lived Intangible Assets:
Trade names649 649 649 649 
Total Intangible Assets
$11,984 $(1,568)$10,416 $10,115 $(1,132)$8,983 
Our intangible asset amortization expense was $158 million and $138 million during the third quarter of fiscal 2025 and fiscal 2024, respectively, and $436 million and $280 million during the first nine months of fiscal 2025 and fiscal 2024, respectively.
The following table presents the estimated future amortization expense related to definite-lived intangible assets as of November 2, 2025:
in millions
Amortization Expense
Fiscal 2025 - remaining
$169 
Fiscal 2026
677 
Fiscal 2027
667 
Fiscal 2028
650 
Fiscal 2029
611 
Thereafter6,993 
Total
$9,767 
During the third quarter of fiscal 2025, we completed our annual assessment of the recoverability of our indefinite-lived intangible assets based on quantitative factors and concluded that no impairment losses should be recognized.