GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Feb. 01, 2020

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

8.  GOODWILL AND INTANGIBLE ASSETS

Goodwill

Changes in the net carrying amount of goodwill for the years ended February 1, 2020 and February 2, 2019 are as follows (in thousands):

	Total
Balance at February 3, 2018	$	94,305
Goodwill of divested business (see Note 3)		(13,588)
Translation adjustment		(1,226)
Balance at February 2, 2019	$	79,491
Translation adjustment		(220)
Balance at February 1, 2020	$	79,271

As of February 1, 2020 and February 2, 2019, accumulated goodwill impairment totaled $780.0 million.

Intangible Assets

The gross carrying amount and accumulated amortization of our identifiable intangible assets are as follows (in thousands):

	February 1,		February 2,
	2020		2019
Amortizable intangible assets:
Carrying amount:
Trademarks, tradenames and franchise agreements	$	13,506	$	13,506
Favorable leases		—		11,844
Total carrying amount		13,506		25,350
Accumulated amortization:
Trademarks, tradenames and franchise agreements		(9,863)		(9,677)
Favorable leases		—		(5,162)
Total accumulated amortization		(9,863)		(14,839)
Total amortizable intangible assets, net		3,643		10,511
Indefinite-lived intangible assets:
Trademarks and tradename		113,200		143,200
Total intangible assets, net	$	116,843	$	153,711

The elimination of favorable leases is due to the adoption of ASC 842, effective February 3, 2019.  See Note 17 for additional information.  The decrease in trademarks, tradenames and franchise agreements and the elimination of customer relationships is due to the sale of our corporate apparel business.  See Note 2 for additional information.  In addition, the decrease in indefinite-lived trademarks and tradenames reflects the reclassification of the Joseph Abboud tradename totaling $30.0 million as an asset held for sale in the consolidated balance sheets due to the sale of the Joseph Abboud trademarks which closed on March 4, 2020. See Note 23 for additional information.

Amortization expense associated with intangible assets subject to amortization totaled approximately $0.2 million, $1.6 million and $1.8 million for fiscal 2019, 2018 and 2017, respectively.  Amortization expense associated with intangible assets subject to amortization at February 1, 2020 is estimated to be approximately $0.2 million each year for fiscal years 2020-2024.