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Intangible Assets and Goodwill
 12 Months Ended
Feb. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible assets by category are summarized below (in thousands):
February 1,
2025		February 3,
2024
Intangible assets with finite lives$120,616 $113,413 
Accumulated amortization and impairment(76,201)(64,812)
Total intangible assets with finite lives, net44,415 48,601 
Intangible assets with indefinite lives:  
Tommy Bahama Trademark$110,700 $110,700 
Lilly Pulitzer Trademark27,500 27,500 
Johnny Was Trademark66,000 66,000 
Southern Tide Trademark9,300 9,300 
Total intangible assets with indefinite lives$213,500 $213,500 
Total intangible assets, net$257,915 $262,101 
Intangible assets, by reportable segment, as well as Corporate and Other, and in total, for Fiscal 2024, Fiscal 2023 and Fiscal 2022 are as follows (in thousands):
Tommy
Bahama		Lilly
Pulitzer		Johnny
Was		Emerging
Brands		Corporate
and Other		Total
Balance, January 29, 2022$110,700 $28,097 $— $16,510 $— $155,307 
Acquisition— — 134,640 — — 134,640 
Impairment— — — — — — 
Amortization— (238)(5,194)(670)— (6,102)
Balance, January 28, 2023$110,700 $27,859 $129,446 $15,840 $— $283,845 
Acquisition— — — 4,899 — 4,899 
Impairment— — (11,900)— — (11,900)
Amortization— (227)(13,852)(664)— (14,743)
Balance, February 3, 2024$110,700 $27,632 $103,694 $20,075 $— $262,101 
Acquisition— 7,814 — — — 7,814 
Impairment— — — — — — 
Amortization— (244)(10,870)(886)— (12,000)
Balance, February 1, 2025$110,700 $35,202 $92,824 $19,189 $— $257,915 
Based on the current estimated useful lives assigned to our intangible assets, amortization expense for each of the next five years is expected to be $10 million, $7 million, $6 million, $5 million and $4 million.
Goodwill, by reportable segment, as well as Corporate and Other, and in total, for Fiscal 2024, Fiscal 2023 and Fiscal 2022 is as follows (in thousands):
Tommy
Bahama		Lilly
Pulitzer		Johnny
Was		Emerging
Brands		Corporate
and Other		Total
Balance, January 29, 2022$747 $19,522 $— $3,600 $— $23,869 
Acquisition— — 96,637 — — 96,637 
Other, including foreign currency(8)— — — — (8)
Balance January 28, 2023$739 $19,522 $96,637 $3,600 $— $120,498 
Acquisition— — — 3,371 — 3,371 
Measurement-period adjustments— — 2,599 — — 2,599 
Impairment— — (99,236)— — (99,236)
Other, including foreign currency(42)— — — — (42)
Balance, February 03, 2024$697 $19,522 $— $6,971 $— $27,190 
Acquisition— — — 232 — 232 
Other, including foreign currency(39)— — — — (39)
Balance, February 1, 2025$658 $19,522 $— $7,203 $— $27,383 
Goodwill and Other Intangible Assets Impairment Testing
We assess the recoverability of goodwill and other indefinite-lived intangible assets annually, at the beginning of the fourth quarter of each fiscal year, and between annual tests if an event occurs or circumstances change that would indicate that it is more likely than not that the carrying amount may be impaired. Intangible assets with finite lives are amortized over their estimated useful life and are tested for impairment, along with other long-lived assets, when events and circumstances indicate that the assets might be impaired. Please see Note 1, “Summary of Significant Accounting Policies,” for discussion of the Company’s goodwill and intangible assets impairment testing process. No impairment charges were recorded based on our annual quantitative assessments as of November 3, 2024 for Fiscal 2024.
Based on our annual quantitative assessment for Fiscal 2023, it was determined that the Johnny Was reporting unit and intangible assets with an indefinite life were impaired. The impairment charges for Johnny Was reflected (1) the challenging macroeconomic environment that resulted in the moderation of forecasted revenue and operating income in future years and (2) increased interest rates that had risen significantly from the September 2022 acquisition date that led to an increase in discount rates used in our impairment analyses. We recorded $111 million of noncash impairment charges during Fiscal 2023, including a goodwill impairment of $99 million and an intangible asset impairment of $12 million, which were included in Impairment of goodwill, intangible assets and equity method investments in our Consolidated Statements of Operations.