GOODWILL AND INTANGIBLE ASSETS, NET

6 Months Ended

Jan. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4—GOODWILL AND INTANGIBLE ASSETS, NET

Changes in the carrying value of Goodwill by reportable segment that have goodwill consisted of the following:


(in millions)	Wholesale			Other			Total
Goodwill as of July 30, 2022	$	10	(1)	$	10	(2)	$	20



Change in foreign exchange rates	—			—			—
Goodwill as of January 28, 2023	$	10	(1)	$	10	(2)	$	20

(1)Wholesale amounts are net of accumulated goodwill impairment charges of $717 million as of July 30, 2022 and January 28, 2023.

(2)Other amounts are net of accumulated goodwill impairment charges of $10 million as of July 30, 2022 and January 28, 2023.

Identifiable intangible assets, net consisted of the following:


	January 28, 2023						July 30, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Amortizing intangible assets:
Customer relationships	$	1,007	$	324	$	683	$	1,007	$	294	$	713
Pharmacy prescription files	33		20		13		33		18		15
Operating lease intangibles	6		4		2		6		4		2
Trademarks and tradenames	84		55		29		84		51		33
Total amortizing intangible assets	1,130		403		727		1,130		367		763
Indefinite lived intangible assets:
Trademarks and tradenames	56		—		56		56		—		56
Intangibles assets, net	$	1,186	$	403	$	783	$	1,186	$	367	$	819

Amortization expense was $18 million and $18 million for the second quarters of fiscal 2023 and 2022, respectively, and $36 million and $36 million for fiscal 2023 and 2022 year-to-date, respectively. The estimated future amortization expense for each of the next five fiscal years and thereafter on amortizing intangible assets existing as of January 28, 2023 is as shown below:


Fiscal Year:	(in millions)
Remaining fiscal 2023	$	36
2024	72
2025	70
2026	66
2027	63
Thereafter	420
	$	727