Intangible Assets

9 Months Ended

Oct. 30, 2021

Note 4. Intangible Assets

The determination of the fair value of intangible assets acquired in a business acquisition, including the Company’s acquisition of Kaspien Inc. in 2016, is subject to many estimates and assumptions. Our identifiable intangible assets that resulted from our acquisition of Kaspien Inc. consist of vendor relationships, technology and tradenames. We review amortizable intangible asset groups for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable.

Identifiable intangible assets as of October 30, 2021 consisted of the following (amounts in thousands):

	October 30, 2021
	Weighted Average Amortization Period (in months)		Original Gross Carrying Amount		Accumulated Impairment		Accumulated Amortization		Net Carrying Amount

Technology		60	$	6,700	$	2,587	$	4,113	$	-
Trade names and trademarks		60		3,200		-		3,200		-
			$	9,900	$	2,587	$	7,313	$	-

The changes in net intangibles and goodwill from January 30, 2021 to October 30, 2021 were as follows:

(amounts in thousands)	January 30, 2021		Impairment Expense		Amortization Expense		October 30, 2021

Amortized intangible assets:
Technology	$	259	$	-	$	259	$	-
Trade names and trademarks		473		-		473		-
Net amortized intangible assets	$	732	$	-	$	732	$	-

Amortization expense of intangible assets for the thirteen and thirty-nine weeks ended October 30, 2021 and October 31, 2020 consisted of the following:

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
(amounts in thousands)	October 30, 2021		October 31, 2020		October 30, 2021		October 31, 2020

Amortized intangible assets:
Technology	$	65	$	97	$	259	$	291
Trade names and trademarks		153		160		473		480
Total amortization expense	$	218	$	257	$	732	$	771

As of October 30, 2021, the intangible assets are fully amortized.