9. Intangible Assets

6 Months Ended

Jul. 31, 2016

Intangible Assets Disclosure [Text Block]

9. Intangible Assets

During the fiscal 2017 first quarter, we recorded both non-amortizable and amortizable intangible assets as a result of our acquisition of Home Meridian on February 1, 2016. The acquisition-related trade names, customer relationships and order backlog have been assigned preliminary fair values subject to additional analysis during the measurement period as we continue to gather information. Details of these new intangible assets, as well as previously recorded intangible assets assigned to our Upholstery and All other operating segments, are as follows:

		July 31,		January 31,
	Segment	2016		2016
Non-amortizable Intangible Assets
Goodwill	Home Meridian	$	23,398	$	-
Trademarks and trade names - Home Meridian	Home Meridian		11,400		-
Trademarks and trade names - Bradington-Young	Upholstery		861		861
Trademarks and trade names - Sam Moore	Upholstery		396		396
URL- Homeware.com	All other		125		125
Total non-amortizable assets			36,180		1,382

All of our amortizable intangible assets are recorded in our Home Meridian segment. The carrying amounts and changes therein of those amortizable intangible assets were as follows:

	Amortizable Intangible Assets
	Customer
	Relationships			Backlog			Trademarks			Totals

Balance at January 31, 2016	$	-		$	-		$	-		$	-
Intangibles- HMI acquisition		14,400			1,800			200			16,400
Amortization		(661	)		(1,800	)		(6	)		(2,467	)
Balance at July 31, 2016	$	13,739		$	-		$	194		$	13,933

The estimated amortization expense associated with our amortizable intangible assets is expected to be as follows:

Fiscal Year	Amount

Remainder of 2017	$	667
2018		1,334
2019		1,334
2020		1,334
2021		1,334
Thereafter		7,930
	$	13,933

The expected amortization expense will be approximately $335,000 in each of the fiscal 2017 third and fourth quarters.