Goodwill and Other Intangible Assets

12 Months Ended

Feb. 03, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Note 4. Goodwill and Other Intangible Assets

Goodwill is not amortized, but is tested for impairment at least annually. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the etailz acquisition.

Determining the fair value of a reporting unit requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates, and future market conditions, among others. Goodwill and other long-lived assets are reviewed for impairment if circumstances indicate that the carrying amount may not be recoverable.

We are continuing to amortize certain vendor relationships, technology, and trade names and trademarks that have finite lives.

Identifiable intangible assets as of February 3, 2018 consisted of the following (in thousands, except weighted-average amortization period):

	February 3, 2018
	Weighted Average Amortization Period (in months)		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Vendor Relationships		120	$	19,100	$	2,487	$	16,612
Technology		60		6,700		1,738		4,962
Trade names and trademarks		60		3,200		807		2,393
			$	29,000	$	5,032	$	23,967

The changes in net intangibles and goodwill from January 28, 2017 to February 3, 2018 were as follows:
($ in thousands)	January 28, 2017		Amortization		February 3, 2018
Amortized intangible assets:
Vendor relationships	$	18,522	$	1,910	$	16,612
Technology		6,302		1,340		4,962
Trade names and trademarks		3,033		640		2,393
Net amortized intangible assets	$	27,857	$	3,890	$	23,967
Unamortized intangible assets:
Goodwill	$	39,191		-	$	39,191
Total unamortized intangible assets	$	39,191		-	$	39,191

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows ($ in thousands):

Fiscal Year	Amortization
2018		3,890
2019		3,890
2020		3,890
2021		3,325
2022		1,910
Thereafter		$7,062