Goodwill and Intangible Assets

3 Months Ended

May 04, 2024

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

3. Goodwill and Intangible Assets

Goodwill

Goodwill balances were as follows as of May 4, 2024, February 3, 2024, and April 29, 2023 ($ in millions):

	Gross Carrying Amount		Cumulative Impairment
Domestic	$	1,450	$	(67)
International		608		(608)
Total	$	2,058	$	(675)

No impairment charges were recorded during the periods presented.

Definite-Lived Intangible Assets

We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):

	May 4, 2024				February 3, 2024				April 29, 2023				Weighted-Average
	Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Gross Carrying ‎Amount		Accumulated ‎Amortization		Useful Life Remaining as of May 4, 2024 (in years)
Customer relationships	$	360	$	278	$	360	$	276	$	360	$	249		9.8
Tradenames		108		72		108		69		108		60		4.7
Developed technology		64		60		64		59		64		54		3.5
Total	$	532	$	410	$	532	$	404	$	532	$	363		8.1

Amortization expense was as follows ($ in millions):

		Three Months Ended
	Statement of Earnings Location	May 4, 2024		April 29, 2023
Amortization expense	SG&A	$	6	$	20

Amortization expense expected to be recognized in future periods is as follows ($ in millions):

	Amortization Expense
Remainder of fiscal 2025	$	15
Fiscal 2026		21
Fiscal 2027		18
Fiscal 2028		12
Fiscal 2029		11
Fiscal 2030		9
Thereafter		36