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Other Intangible Assets, net
12 Months Ended
Jan. 30, 2016
Goodwill and Other Intangible Assets, Net [Abstract]  
Other Intangible Assets, net

 

 

 

 

 

 

10. Other Intangible Assets, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 30, 2016

 

January 31, 2015

 

 

 

 

 

 

 

 

 

 

 

Wtd. Avg.

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

Accum.

 

Net

 

Life in

 

Gross

 

Accum.

 

Net

($ in millions)

 

value

 

amort.

 

Value

 

Years (2)

 

value

 

amort.

 

Value

Amortized intangible assets: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease acquisition costs

 

 $

119 

 

 $

(107)

 

 $

12 

 

10.0 

 

 $

128 

 

$

(116)

 

$

12 

 

Trademarks / trade names

 

 

20 

 

 

(12)

 

 

 

20.0 

 

 

21 

 

 

(12)

 

 

 

Favorable leases

 

 

 

 

(5)

 

 

 

7.8 

 

 

 

 

(4)

 

 

 

 

 

 $

146 

 

 $

(124)

 

 $

22 

 

13.8 

 

 $

156 

 

$

(132)

 

24 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indefinite life intangible assets: (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Runners Point Group trademarks / trade names (3)

 

 

 

 

 

 

 

 

23 

 

 

 

 

 

 

 

 

 

 

25 

 

 

 

 

 

 

 

 

 

 $

23 

 

 

 

 

 

 

 

 

 

 $

25 

Other intangible assets, net

 

 

 

 

 

 

 

 $

45 

 

 

 

 

 

 

 

 

 

 $

49 

 

(1)

The movements 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)

The weighted-average useful life is as of January 30, 2016 and excludes those assets that are fully amortized.

(3)

Includes non-cash impairment charges of $1 million recorded in both 2015 and 2014.  These impairment charges are described more fully in Note 4, Litigation, Impairment and Other Charges

 

Amortizing intangible assets primarily represent lease acquisition costs, which are amounts that are required to secure prime lease locations and other lease rights, primarily in Europe. Amortizing intangible assets decreased by $2 million in 2015, which reflects additions of $3 million related to new leases in Europe and the United States, partially offset by $1 million in foreign currency fluctuations. Amortization expense for intangibles subject to amortization was $4 million, $6 million, and $11 million for 2015, 2014, and 2013, respectively.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

($ in millions)

2016

$

2017

 

2018

 

2019

 

2020