Intangible Assets and Goodwill

9 Months Ended

Jan. 30, 2016

11.

Intangible Assets and Goodwill


		As of January 30, 2016
Amortizable Intangible Assets	Useful Life	Gross Carrying Amount		Accumulated Amortization		Total
Technology	5-10	$	10,710		9,487	$	1,223
Distribution contracts	10		8,325		7,831		494
Other	3-10		6,350		6,295		55

		$	25,385		23,613	$	1,772


Unamortizable Intangible Assets	Trade Name		Publishing Contracts			Total
Balance at May 2, 2015	$	293,400		19,734		$	313,134
Impairment ^(a)		—		(3,840	)		(3,840	)

Balance at January 30, 2016	$	293,400		15,894		$	309,294

Total amortizable and unamortizable intangible assets						$	311,066

^(a)

The Company tests unamortizable intangible assets, at least annually or earlier if there are impairment indicators, by comparing the fair value and the carrying value of such assets. During this quarter, the Company impaired one of its publishing contracts due to a significant drop in current year business with that publisher, driven by lower title offerings, product quality and the loss of a distribution partner. As a result, the Company recorded an impairment charge of $3,840 in selling and administrative expenses during the 13 weeks ended January 30, 2016.

All amortizable intangible assets are being amortized over their useful life on a straight-line basis, with the exception of certain other acquired intangible assets, which are amortized on an accelerated basis.


Aggregate Amortization Expense:
For the 39 weeks ended January 30, 2016	$	825
For the 39 weeks ended January 31, 2015	$	3,838

Estimated Amortization Expense:
(12 months ending on or about April 30)
2016	$	1,010
2017	$	721
2018	$	539
2019	$	323

The carrying amount of goodwill as of January 30, 2016 is $215,197.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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