INTANGIBLE ASSETS

12 Months Ended

Jan. 31, 2020

Business Combinations [Abstract]

INTANGIBLE ASSETS

NOTE F — INTANGIBLE ASSETS

Intangible assets consist of:

January 31, 2020	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,258	$	(16,107)	$	3,151
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,214		(14,831)		33,383
Other	5-10 years		7,757		(5,928)		1,829
Total finite-lived intangible assets		$	77,423	$	(39,060)	$	38,363
Indefinite-lived intangible assets
Goodwill							260,622
Trademarks							438,658
Total indefinite-lived intangible assets							699,280
Total intangible assets, net						$	737,643

January 31, 2019	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,395	$	(15,692)	$	3,703
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,261		(11,887)		36,374
Other	5-10 years		7,313		(4,986)		2,327
Total finite-lived intangible assets		$	77,163	$	(34,759)	$	42,404
Indefinite-lived intangible assets
Goodwill							261,137
Trademarks							439,742
Total indefinite-lived intangible assets							700,879
Total intangible assets, net						$	743,283

Amortization expense

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.

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

Year Ending January 31,	Amortization Expense
	(In thousands)
2021	$	3,999
2022		3,523
2023		3,200
2024		2,962
2025		2,934

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.

Change in Goodwill

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):

	Wholesale		Retail		Total
January 31, 2018	$	262,710		—		262,710
Currency translation		(1,573)		—		(1,573)
January 31, 2019		261,137		—		261,137
Currency translation		(515)		—		(515)
January 31, 2020	$	260,622	$	—	$	260,622

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.