Note 9 - Other Intangible Assets, Net

12 Months Ended

Feb. 03, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

9. Other Intangible Assets, net

	February 3, 2024									January 28, 2023
	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	$	91	$	(90	)	$	1		9.8	$	102	$	(100	)	$	2
Trademarks/tradenames		18		(18	)		—		—		18		(18	)		—
Customer lists		20		(15	)		5		3.0		20		(9	)		11
	$	129	$	(123	)	$	6		4.8	$	140	$	(127	)	$	13
Indefinite life intangible assets: (1)
Trademarks/tradenames (2)						$	393								$	413
						$	399								$	426

(1) The change in the ending balances reflect the derecognition of fully amortized leases during 2023 and 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 $9 million and $8 million recorded in 2023 and 2022, respectively, see Note 4, Impairment and Other.

(3) Represents the weighted-average useful life as of February 3, 2024 and excludes those assets that are fully amortized.

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)	2023		2022		2021
Amortization expense	$	7	$	8	$	5

Estimated future amortization expense for finite lived intangibles is as follows:

($ in millions)
2024	$	5
2025		1