Intangible Assets and Goodwill

12 Months Ended

Feb. 02, 2013

Note 4. Intangible Assets and Goodwill

Intangible assets by category are summarized below (in thousands):

	February 2, 2013			January 28, 2012

Intangible assets with finite lives, which primarily consist of customer relationships:
Gross carrying amount	$	45,793		$	45,706
Accumulated amortization		(41,994	)		(40,889	)

Total intangible assets with finite lives, net		3,799			4,817
Intangible assets with indefinite lives:
Trademarks		160,518			160,376

Total intangible assets, net	$	164,317		$	165,193

The changes in carrying amount of intangible assets by operating group and in total, for fiscal 2012, fiscal 2011 and fiscal 2010 are as follows (in thousands):

	Tommy Bahama			Lilly Pulitzer			Ben Sherman			Total

Balance, January 30, 2010	$	113,173		$	—		$	24,289		$	137,462
Acquisition		—			30,501			—			30,501
Amortization		(693	)		(13	)		(267	)		(973	)
Other, including foreign currency changes		—			—			(310	)		(310	)

Balance, January 29, 2011		112,480			30,488			23,712			166,680
Amortization		(516	)		(460	)		(219	)		(1,195	)
Other, including foreign currency changes		—			—			(292	)		(292	)

Balance, January 28, 2012		111,964			30,028			23,201			165,193
Amortization		(384	)		(389	)		(252	)		(1,025	)
Other, including foreign currency changes		—			—			149			149

Balance, February 2, 2013	$	111,580		$	29,639			23,098		$	164,317

Based on the current estimated useful lives assigned to our intangible assets, amortization expense for each of the five years subsequent to fiscal 2012 is expected to be $0.9 million or less each year.

The changes in the carrying amount of goodwill by operating group and in total, for fiscal 2012, fiscal 2011 and fiscal 2010 are as follows (in thousands):

	Tommy Bahama		Lilly Pulitzer			Total

Balance, January 30, 2010	$	—	$	—		$	—
Acquisition		—		16,866			16,866

Balance, January 29, 2011		—		16,866			16,866
Purchase accounting adjustments		—		(371	)		(371	)

Balance, January 28, 2012		—		16,495			16,495
Acquisition		780		—			780

Balance, February 2, 2013	$	780	$	16,495		$	17,275

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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