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Other Intangible Assets, Net
12 Months Ended
Jan. 28, 2023
Goodwill and Other Intangible Assets, Net [Abstract]  
Other Intangible Assets, Net

10. Other Intangible Assets, net

January 28, 2023

January 29, 2022

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

$

102

$

(100)

$

2

9.4

$

107

$

(104)

$

3

Trademarks/tradenames

18

(18)

18

(18)

Customer lists

20

(9)

11

3.0

13

(2)

11

$

140

$

(127)

$

13

5.0

$

138

$

(124)

$

14

Indefinite life intangible assets: (1)

Trademarks/tradenames (2)

$

413

$

440

$

426

$

454

(1)The change in the ending balances also reflect the effect of foreign currency fluctuations due primarily to the movements of the Yen in relation to the U.S. dollar.
(2)Includes a non-cash impairment charge of $8 million and $2 million recorded in 2022 and 2021, respectively, see Note 5, Impairment and Other.
(3)Represents the weighted-average useful life as of January 28, 2023 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, $130 million for atmos related tradenames (a provisional amount of $135 million was recorded at January 29, 2022). 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, primarily in Europe. Amortization expense recorded is as follows:

($ in millions)

2022

    

2021

    

2020

Amortization expense

$

8

$

5

$

3

10. Other Intangible Assets, net (continued)

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

($ in millions)

    

2023

$

7

2024

 

5

2025

1