	October 31, 2020							February 1, 2020
(In thousands)	Gross Amount		Accumulated Amortization			Net Book Value		Gross Amount		Accumulated Amortization			Net Book Value
Amortizable trademarks	$	30,283		(21,186	)	$	9,097	$	30,153		(20,600	)	$	9,553
Indefinite lived trademarks		40,550		—			40,550		49,557		—			49,557
	$	70,833	$	(21,186	)	$	49,647	$	79,710	$	(20,600	)	$	59,110

Intangible assets include trademarks that are classified as indefinite lived and not subjected to amortization. The Company's revenues have been adversely impacted by the COVID-19 pandemic and its effect on the Company’s licensees. This was identified as an interim impairment indicator for the related indefinite lived trademarks during the preparation of the Company’s interim financial statements for the quarters ended May 2, 2020 and October 31, 2020, and management performed interim impairment tests at those times based on updated cash flow projections and discounted cash flows based on estimated weighted average costs of capital (income approach). The Company determined that the fair values of its Hi-Tec and Magnum trademarks were not in excess of their carrying values, and as a result, an impairment charge of $4.4 million was recorded during the three months ended May 2, 2020 and an additional impairment charge of $4.6 million was recorded during the three months ended October 31, 2020 to adjust these trademarks to their estimated fair value. The forecasted impact of the COVID-19 pandemic on the Company’s future revenues is subject to change as additional information becomes available. Further impairments may be required if management’s revenue forecasts for Hi-Tec and Magnum are further reduced in future reporting periods. 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 for both the three months ended October 31, 2020 and November 2, 2019, and $0.6 million and $0.5 million for the nine months ended October 31, 2020 and November 2, 2019, respectively.

The Company’s goodwill arose from the Hi-Tec Acquisition that occurred during Fiscal 2017 and amounted to $16.3 million at that time. Goodwill is tested at least annually for impairment in the Company’s fourth quarter, and because the Company has one reporting unit, the impairment test is based primarily on the relationship between the Company’s market capitalization and the book value of its equity adjusted for an estimated control premium. The annual goodwill impairment test in the fourth quarter of the fiscal year ended February 1, 2020 indicated that the Company’s goodwill was impaired, and an impairment charge of $4.1 million was recorded to reduce goodwill to $12.2 million. The Company’s market capitalization was adversely affected during the three months ended May 2, 2020 as a result of the COVID-19 pandemic. This was identified as an interim impairment indicator for goodwill during the preparation of the Company’s interim financial statements, and management performed an interim impairment test, which indicated that the Company’s goodwill was impaired. Accordingly, an impairment charge of $5.4 million was recorded during the quarter ended May 2, 2020 to reduce goodwill to $6.8 million.