Intangible Assets

3 Months Ended

Apr. 27, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 5 – Intangible Assets

Intangible assets are as follows:

	April 27, 2024									January 31, 2024
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Currency Translation Adjustment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Currency Translation Adjustment		Net Carrying Amount
RITEC:
Customer Contract    Relationships	$	2,830	$	(1,705	)	$	—	$	1,125	$	2,830	$	(1,689	)	$	—	$	1,141
TrojanLabel:
Distributor Relations	937			(705	)		22		254	937			(686	)		30		281
Honeywell:
Customer Contract    Relationships		27,773		(13,012	)		—		14,761		27,773		(12,795	)		—		14,978
Astro Machine:
Customer Contract    Relationships		3,060		(1,071	)		—		1,989		3,060		(918	)		—		2,142
Trademarks	420			(147	)		—		273	420			(126	)		—		294
Intangible Assets, net	$	35,020	$	(16,640	)	$	22	$	18,402	$	35,020	$	(16,214	)	$	30	$	18,836

There were no impairments to intangible assets during the periods ended April 27, 2024 and April 29, 2023.

With respect to the acquired intangibles included in the table above, amortization expense of $0.4 million and $0.6 million has been included in the condensed consolidated statements of income for the three months ended April 27, 2024, and April 29, 2023, respectively.

Estimated amortization expense for the next five fiscal years is as follows:

(In thousands)	Remaining 2025		2026		2027		2028		2029
Estimated amortization expense	$	1,291	$	1,721	$	1,721	$	1,721	$	1,281