Goodwill And Intangible Assets

9 Months Ended

Oct. 29, 2011

Goodwill And Intangible Assets [Abstract]

Note 8

Goodwill and Intangible Assets

Goodwill and intangible assets were attributable to the Company's operating segments as follows:


($ thousands)	October 29, 2011			October 30, 2010			January 29, 2011

Famous Footwear	$	2,800		$	2,800		$	2,800
Wholesale Operations		155,003			116,275			116,308
Specialty Retail		200			200			200
Total intangibles		158,003			119,275			119,308
Famous Footwear		–			–			–
Wholesale Operations		39,603			–			–
Specialty Retail		–			–			–
Total goodwill and intangibles		197,606			119,275			119,308
Less: Accumulated amortization		(55,062	)		(47,057	)		(48,716	)
Total goodwill and intangible assets, net	$	142,544		$	72,218		$	70,592

Intangible assets of $42.5 million as of October 29, 2011 and $13.7 million as of January 29, 2011 and October 30, 2010 are not subject to amortization. All remaining intangible assets are subject to amortization and have useful lives ranging from four to 20 years as of October 29, 2011. Amortization expense related to intangible assets was $2.1 million and $1.7 million for the thirteen weeks ended and $6.3 million and $5.0 million for the thirty-nine weeks ended October 29, 2011 and October 30, 2010, respectively.

The increase in the goodwill and intangible assets of the Wholesale Operations segment from January 29, 2011 to October 29, 2011 reflects the Company's purchase of ASG on February 17, 2011 and the sale of TBMC on October 25, 2011. The Company's purchase of ASG resulted in goodwill of $61.2 million and intangible assets of $46.7 million. The Company's sale of TBMC resulted in the elimination of $21.6 million of goodwill and $8.0 of intangible assets. The decline in the intangible assets of the Company's Wholesale Operations segment from October 30, 2010 to January 29, 2011 reflects amortization of licensed and owned trademarks.

The remaining intangible assets associated with the Company's acquisition of ASG, after the sale of TBMC, will be amortized on a straight-line basis over their estimated useful lives, ranging from four to 20 years, except for the Avia and rykä trademarks, for which an indefinite life has been assigned. A summary of the estimated useful life by intangible asset class, excluding intangibles related to TBMC which were sold during the third quarter of 2011, as well as the total weighted-average estimated useful life is as follows:

Intangible Assets	Estimated Useful Life (in years)	Initial Fair Value ($ in millions)

Subject to amortization:
Trademarks	20	$ 1.2
Customer relationships	20	4.6
Licensing agreements	4	3.6
Total(1)	15	$ 9.4
(1) Estimated useful life is calculated as the weighted-average total

Not subject to amortization:
Trademarks	Indefinite	$ 28.8

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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