

Note 9	Goodwill and Intangible Assets

Goodwill and intangible assets were as follows:



($ thousands)	May 4, 2019			May 5, 2018			February 2, 2019
Intangible Assets
Famous Footwear	$	2,800		$	2,800		$	2,800
Brand Portfolio	388,288			285,988			388,288
Other	—			1,769			—
Total intangible assets	391,088			290,557			391,088
Accumulated amortization	(86,987		)	(77,738		)	(83,722		)
Total intangible assets, net	304,101			212,819			307,366
Goodwill
Brand Portfolio	244,407			127,081			242,531
Total goodwill	244,407			127,081			242,531
Goodwill and intangible assets, net	$	548,508		$	339,900		$	549,897

As further described in Note 3 to the condensed consolidated financial statements, the Company acquired Vionic on October 18, 2018. The allocation of the purchase price resulted in incremental intangible assets of $144.7 million, consisting of trademarks and customer relationships of $112.4 million and $32.3 million, respectively, and incremental goodwill of $150.4 million. In addition, the Company acquired Blowfish Malibu on July 6, 2018. The allocation of the purchase price resulted in incremental intangible assets of $17.6 million, consisting of trademarks and customer relationships of $11.1 million and $6.5 million, respectively, and incremental goodwill of $5.0 million.

The Company's intangible assets as of May 4, 2019, May 5, 2018 and February 2, 2019 were as follows:



($ thousands)		May 4, 2019
	Estimated Useful Lives	Cost Basis		Accumulated Amortization		Net Carrying Value
Trademarks	15-40 years	$	288,788	$	84,427	$	204,361
Trademarks	Indefinite	58,100		—		58,100
Customer relationships	15-16 years	44,200		2,560		41,640
		$	391,088	$	86,987	$	304,101



		May 5, 2018
	Estimated Useful Lives	Cost Basis		Accumulated Amortization		Net Carrying Value
Trademarks	15-40 years	$	165,288	$	77,219	$	88,069
Trademarks	Indefinite	118,100		—		118,100
Customer relationships	15 years	5,400		495		4,905
Software licenses	5 years	1,769		24		1,745
		$	290,557	$	77,738	$	212,819



		February 2, 2019
	Estimated Useful Lives	Cost Basis		Accumulated Amortization		Impairment		Net Carrying Value
Trademarks	15-40 years	$	288,788	$	81,961	$	—	$	206,827
Trademarks	Indefinite	118,100		—		60,000		58,100
Customer relationships	15-16 years	44,200		1,761		—		42,439
		$	451,088	$	83,722	$	60,000	$	307,366

Amortization expense related to intangible assets was $3.3 million and $1.0 million for the thirteen weeks ended May 4, 2019 and May 5, 2018, respectively. The Company estimates that amortization expense related to intangible assets will be approximately $13.1 million in 2019, $12.8 million in 2020, $12.7 million in 2021, $12.5 million in 2022 and $12.2 million in 2023.

As a result of its annual goodwill impairment testing in the fourth quarter of 2018, the Company determined that the carrying value of the Allen Edmonds reporting unit exceeded its fair value and recorded $38.0 million in impairment charges. The Company recorded no goodwill impairment charges in the thirteen weeks ended May 4, 2019 or May 5, 2018.

Indefinite-lived intangible assets are tested for impairment as of the first day of the fourth quarter of each fiscal year unless events or circumstances indicate an interim test is required. The indefinite-lived intangible asset impairment review in the fourth quarter of 2018 resulted in $60.0 million in impairment charges associated with the Allen Edmonds trademark. The Company recorded no impairment charges in the thirteen weeks ended May 4, 2019 or May 5, 2018.