GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

May 05, 2024

The changes in the carrying amount of goodwill for the thirteen weeks ended May 5, 2024, by segment (please see Note 16, “Segment Data,” for further discussion of the Company’s reportable segments), were as follows:


(In millions)	Calvin Klein North America		Calvin Klein International		Tommy Hilfiger North America		Tommy Hilfiger International		Total
Balance as of February 4, 2024
Goodwill, gross	$	781.8	$	877.4	$	203.0	$	1,558.3	$	3,420.5
Accumulated impairment losses	(449.9)		(471.3)		(177.2)		—		(1,098.4)
Goodwill, net	331.9		406.1		25.8		1,558.3		2,322.1

Currency translation	—		(2.2)		—		(4.7)		(6.9)
Balance as of May 5, 2024
Goodwill, gross	781.8		875.2		203.0		1,553.6		3,413.6
Accumulated impairment losses	(449.9)		(471.3)		(177.2)		—		(1,098.4)
Goodwill, net	$	331.9	$	403.9	$	25.8	$	1,553.6	$	2,315.2

The Company assesses the recoverability of goodwill and other indefinite-lived intangible assets annually, at the beginning of the third quarter of each fiscal year, and between annual tests if an event occurs or circumstances change that would indicate that it is more likely than not that the carrying amount may be impaired. Intangible assets with finite lives are amortized over their estimated useful life and are tested for impairment, along with other long-lived assets, when events and circumstances indicate that the assets might be impaired. Please see Note 1, “Summary of Significant Accounting Policies,” in the Notes to Consolidated Financial Statements included in Item 8 of the Company’s Annual Report on Form 10-K for the year ended February 4, 2024 for discussion of the Company’s goodwill and other intangible assets impairment testing process.

There have been no significant events or changes in circumstances during the thirteen weeks ended May 5, 2024 that would indicate the remaining carrying amount of the Company’s goodwill and other intangible assets may be impaired as of May 5, 2024.