Goodwill and Intangible Assets

3 Months Ended

Apr. 30, 2022

Goodwill and Intangible Assets

Goodwill and Intangible Assets

(6)    Goodwill and Intangible Assets

Goodwill

The following table presents the changes in goodwill during the three months ended April 30, 2022:

Balance, January 29, 2022	$	99,050
Acquisition valuation adjustment		(2,365)
Foreign currency translation adjustment		(3,527)
Balance, April 30, 2022	$	93,158

The acquisition valuation adjustment made to goodwill in the first quarter of 2022 related primarily to a purchase price reallocation made after the Company performed additional analysis and assessments regarding the allocation of the 1-2-3.tv Group purchase price.  See Note 15 – “Business Acquisitions.”

Finite-lived Intangible Assets

Intangible assets in the accompanying condensed consolidated balance sheets consisted of the following:

		April 30, 2022						January 29, 2022
	Estimated	Gross						Gross
	Useful Life	Carrying		Accumulated				Carrying		Accumulated
	(In Years)	Amount		Amortization		Net Amount		Amount		Amortization		Net Amount
Trademarks and Trade Names	15	$	15,888	$	(816)	$	15,072	$	14,462	$	(451)	$	14,011
Technology	4-9		7,657		(1,034)		6,623		6,524		(752)		5,772
Customer Lists and Relationships	3-14		7,719		(766)		6,953		8,689		(619)		8,070
Vendor Exclusivity	5		193		(116)		77		193		(106)		87
Total finite-lived intangible assets		$	31,457	$	(2,732)	$	28,725	$	29,868	$	(1,928)	$	27,940

Intangible assets, net in the accompanying balance sheets consist of trade names, technology, customer lists and a vendor exclusivity agreement primarily related to the various acquisitions the Company completed in fiscal 2021 and 2019. Amortization expense related to the finite-lived intangible assets was $804 and $104 for the three-month periods ended April 30, 2022 and May 1, 2021. Estimated future amortization expense is $2,363 for fiscal 2022, $3,094 for fiscal 2023, $2,898 for fiscal 2024, $2,714 for fiscal 2025, and $2,241 for fiscal 2026 and $15,415 thereafter.