Other Intangible Assets, Net

12 Months Ended

Jan. 29, 2022

Goodwill and Other Intangible Assets, Net [Abstract]

9. Other Intangible Assets, net


		January 29, 2022							January 30, 2021
	Gross		Accum.		Net		Life in	Gross		Accum.		Net
($ in millions)	value		amort.		value		Years ⁽³⁾	value		amort.		value
Amortized intangible assets: ⁽¹⁾
Lease acquisition costs	$	107	$	(104)	$	3	10.1	$	121	$	(116)	$	5
Trademarks/tradenames ⁽²⁾		18		(18)		—	—		20		(17)		3
Customer lists		13		(2)		11	3.0
	$	138	$	(124)	$	14	6.9	$	141	$	(133)	$	8

Indefinite life intangible assets: ⁽¹⁾
Trademarks/tradenames					$	440						$	9
Other intangible assets, net					$	454						$	17

(1)	The change in the ending balances also reflect the effect of foreign currency fluctuations due primarily to the movements of the euro in relation to the U.S. dollar.

(2)	Includes a non-cash impairment charge of $2 million recorded in 2021, see Note 4, Impairment and Other Charges.

(3)	Represents the weighted-average useful life as of January 29, 2022 and excludes those assets that are fully amortized.

In connection with the acquisitions of WSS and atmos, we recognized indefinite life intangible assets of $296 million for WSS related tradenames, $135 million for atmos related tradenames, and a $13 million intangible asset for the WSS customer list that will be amortized over 3 years. Amortizing intangible assets primarily represent the WSS customer list, lease acquisition costs, which are amounts that are required to secure prime lease locations and other lease rights, primarily in Europe. Amortization expense recorded is as follows:


($ in millions)	2021		2020		2019
Amortization expense	$	5	$	3	$	3

Estimated future amortization expense for finite lived intangibles for the next five years is as follows:


($ in millions)
2022	$	5
2023		5
2024		3
2025		1
2026		-