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Other Intangible Assets, Net
6 Months Ended
Jul. 30, 2022
Goodwill and Other Intangible Assets, Net [Abstract]  
Other Intangible Assets, Net

9. Other Intangible Assets, net

The components of finite-lived intangible assets and intangible assets not subject to amortization are as follows:

July 30, 2022

July 31, 2021

Gross

Accum.

Net

Gross

Accum.

Net

($ in millions)

value

amort.

value

value

amort.

value

Amortized intangible assets: (1)

 

Lease acquisition costs

$

97

$

(95)

$

2

$

116

$

(112)

$

4

Trademarks/tradenames (2)

18

(18)

20

(17)

3

Customer lists

20

(5)

15

$

135

$

(118)

$

17

$

136

$

(129)

$

7

Indefinite life intangible assets: (1)

Trademarks/tradenames

$

415

$

9

Other intangible assets, net

$

432

$

16

(1)The change in the ending balances also reflects the effect of foreign currency fluctuations due primarily to movements of the euro in relation to the U.S. dollar.
(2)During the fourth quarter of 2021, we recorded a non-cash impairment charge related to the Footaction tradename.  

In connection with the acquisitions of WSS and atmos, we recognized indefinite life intangible assets of $296 million for WSS related tradenames and $130 million for atmos related tradenames. Additionally, we recognized customer list intangible assets of $13 million for WSS and $9 million for atmos, both of which will be amortized over 3 years. The intangibles related to atmos were originally recorded at the exchange rate in effect as of the date of acquisition and are presented in the above table at current period exchange rates. Amortizing intangible assets primarily represent the WSS and atmos customer lists, and 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:

Thirteen weeks ended

Twenty-six weeks ended

July 30,

July 31,

July 30,

July 31,

($ in millions)

    

2022

    

2021

    

2022

    

2021

    

Amortization expense

$

2

$

1

$

5

$

2

9. Other Intangible Assets, net (continued)

Estimated future amortization expense for finite-life intangible assets is as follows:

($ in millions)

    

Remainder of 2022

$

4

2023

7

2024

 

5

2025

1