INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Jan. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

Definite-Lived Intangible Assets

The following is a summary of definite-lived intangible assets as of January 31, 2020 and 2019:

	January 31, 2020							January 31, 2019
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
	(in thousands)							(in thousands)
Covenants not to compete	$	100	$	(7	)	$	93	$	200	$	(138	)	$	62
Customer relationships	345		(83		)	262		112		(19		)	93
	$	445	$	(90	)	$	355	$	312	$	(157	)	$	155

Intangible asset amortization expense was $0.1 million for each of the three years ended January 31, 2020, 2019 and 2018. The increase in net, definite-lived intangible assets for fiscal 2020, as compared to fiscal 2019, was primarily the result of the Northwood acquisition, offset by impairments. As of January 31, 2020, future amortization expense is expected to be as follows:

Fiscal years ending January 31,	Amount
	(in thousands)
2021	$	110
2022	91
2023	58
2024	58
2025	38
Thereafter	—
	$	355

Indefinite-Lived Intangible Assets

The Company's indefinite-lived intangible assets consist of distribution rights assets. The following is a summary of distribution rights assets by segment as of January 31, 2020 and 2019:

	January 31,
	2020		2019
	(in thousands)
Segment
Agriculture	$	6,070	$	5,050
Construction	72		237
International	1,870		1,805
	$	8,012	$	7,092

The results of the Company's annual distribution rights impairment test for the year ended January 31, 2020 indicated impairment of $0.7 million, which was appropriately recorded in fiscal 2020. In the prior years ended January 31, 2019 and 2018, the annual distribution rights impairment tests indicated no impairment.

Goodwill

Changes in the carrying amount of goodwill during the years ended January 31, 2020, 2019 and 2018 are as follows:

	Agriculture		Construction		International			Total
	(in thousands)
Balance, January 31, 2018	$	250	$	—	$	—		$	250
Arising from business combinations	—		—		924			924
Foreign currency translation	—		—		(13		)	(13		)
Balance, January 31, 2019	250		—		911			1,161
Arising from business combinations	699		—		499			1,198
Foreign currency translation	—		—		(32		)	(33		)
Balance, January 31, 2020	$	949	$	—	$	1,378		$	2,327

The results of the Company's annual goodwill impairment tests for the fiscal years ended January 31, 2020 and 2019 indicated that no goodwill impairment existed as of the test date.