Goodwill and Intangible Assets

9 Months Ended

Nov. 02, 2024

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

3. Goodwill and Intangible Assets

Goodwill

Goodwill balances were as follows as of November 2, 2024, February 3, 2024, and October 28, 2023 ($ in millions):

	Gross Carrying Amount		Cumulative Impairment
Domestic	$	1,450	$	(67)
International		608		(608)
Total	$	2,058	$	(675)

No impairment charges were recorded during the periods presented.

Indefinite-Lived Intangible Assets

In the second quarter of fiscal 2025, we reclassified our Yardbird tradename from a definite-lived intangible asset to an indefinite-lived intangible asset to better reflect our expectations of the long-term use of the tradename. The carrying value of the tradename was $16 million as of November 2, 2024, and was recorded within Other assets on our Consolidated Balance Sheets.

Definite-Lived Intangible Assets

We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):

	November 2, 2024				February 3, 2024				October 28, 2023
	Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Weighted-Average Useful Life Remaining ‎as of November 2, 2024 (in years)
Customer relationships	$	360	$	283	$	360	$	276	$	360	$	274		9.4
Tradenames		92		77		108		69		108		66		1.9
Developed technology		64		60		64		59		64		59		3.0
Total	$	516	$	420	$	532	$	404	$	532	$	399		8.0

Amortization expense was as follows ($ in millions):

		Three Months Ended				Nine Months Ended
	Statement of Earnings Location	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Amortization expense	Selling, general and administrative expenses	$	5	$	15	$	16	$	56

Amortization expense expected to be recognized in future periods is as follows ($ in millions):

	Amortization Expense
Remainder of fiscal 2025	$	4
Fiscal 2026		18
Fiscal 2027		16
Fiscal 2028		10
Fiscal 2029		8
Fiscal 2030		7
Thereafter		33