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INTANGIBLE ASSETS
12 Months Ended
Jan. 31, 2020
Business Combinations [Abstract]  
INTANGIBLE ASSETS

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NOTE F — INTANGIBLE ASSETS

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Intangible assets consist of:

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January 31, 2020

    

Estimated Life

    

Gross Carrying Amount

    

Accumulated Amortization

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Net Carrying Amount

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(In thousands)

Finite-lived intangible assets

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Licenses

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14 years

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$

19,258

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$

(16,107)

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$

3,151

Trademarks

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8-12 years

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2,194

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(2,194)

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—

Customer relationships

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15-17 years

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48,214

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(14,831)

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33,383

Other

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5-10 years

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7,757

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(5,928)

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1,829

Total finite-lived intangible assets

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$

77,423

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$

(39,060)

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$

38,363

Indefinite-lived intangible assets

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Goodwill

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260,622

Trademarks

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438,658

Total indefinite-lived intangible assets

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699,280

Total intangible assets, net

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$

737,643

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January 31, 2019

    

Estimated Life

    

Gross Carrying Amount

    

Accumulated Amortization

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Net Carrying Amount

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(In thousands)

Finite-lived intangible assets

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Licenses

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14 years

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$

19,395

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$

(15,692)

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$

3,703

Trademarks

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8-12 years

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2,194

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(2,194)

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—

Customer relationships

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15-17 years

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48,261

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(11,887)

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36,374

Other

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5-10 years

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7,313

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(4,986)

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2,327

Total finite-lived intangible assets

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$

77,163

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$

(34,759)

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$

42,404

Indefinite-lived intangible assets

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Goodwill

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261,137

Trademarks

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439,742

Total indefinite-lived intangible assets

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700,879

Total intangible assets, net

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$

743,283

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Amortization expense

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Amortization expense with respect to finite-lived intangibles amounted to $4.5 million, $4.6 million and $4.5 million for the years ended January 31, 2020, 2019 and 2018, respectively.

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The estimated amortization expense with respect to intangibles for the next five years is as follows:

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Year Ending January 31,

    

Amortization Expense

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(In thousands)

2021

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$

3,999

2022

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3,523

2023

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3,200

2024

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2,962

2025

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2,934

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Intangible assets with finite lives are amortized over their estimated useful lives and measured for impairment when events or circumstances indicate that the carrying value may be impaired.

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Change in Goodwill

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Changes in the amounts of goodwill for each of the years ended January 31, 2020 and 2019 are summarized by reportable segment as follows (in thousands):

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Wholesale

    

Retail

    

Total

January 31, 2018

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$

262,710

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—

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262,710

Currency translation

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(1,573)

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—

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(1,573)

January 31, 2019

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261,137

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—

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261,137

Currency translation

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(515)

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(515)

January 31, 2020

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$

260,622

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$

—

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$

260,622

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Goodwill represents the excess of the purchase price and related costs over the value assigned to net tangible and identifiable intangible assets of businesses acquired and accounted for under the purchase method. The Company reviews and tests its goodwill and intangible assets with indefinite lives for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company performs the test as of January 31 of each year using a qualitative evaluation or a quantitative test that is a combination of a discounted cash flow analysis and a market approach. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. The market approach estimates the fair value based on comparisons with the market values and market multiples of earnings and revenues of similar public companies.

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