Intangible Assets

9 Months Ended

Nov. 03, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

5. Intangible Assets

Intangible assets consist of the following:

	November 3, 2018							February 3, 2018
(In thousands)	Gross Amount		Accumulated Amortization			Net Book Value		Gross Amount		Accumulated Amortization			Net Book Value
Amortizable trademarks	$	27,871		(19,689	)	$	8,182	$	30,861		(19,029	)	$	11,832
Amortizable franchise agreements		—		—			—		1,300		(271	)		1,029
Indefinite lived trademarks		56,687		—			56,687		56,687		—			56,687
	$	84,558	$	(19,689	)	$	64,869	$	88,848	$	(19,300	)	$	69,548

During the nine months ended November 3, 2018, the Company sold its amortizable trademarks, amortizable franchise agreements and other assets related to its Flip Flop Shops franchise business to a third party.  A gain of $0.5 million was recognized on the sale.  The Hi-Tec Acquisition during Fiscal 2017 resulted in trademarks valued at $52.4 million that are classified as indefinite lived and not subjected to amortization.  Other indefinite lived trademarks include certain Cherokee brand trademarks in the school uniforms category that were acquired in historical transactions.  The Company has acquired other trademarks that are being amortized over their estimated useful lives, which average 10.0 years with no residual values.  Amortization of intangible assets was $0.2 million and $0.2 million for the three months ended November 3, 2018 and October 28, 2017, respectively, and $0.7 million and $0.6 million for the nine months ended November 3, 2018 and October 28, 2017, respectively. Goodwill arose from the Hi-Tec Acquisition that occurred during Fiscal 2017.