Intangible Assets

9 Months Ended

Nov. 02, 2013

Intangible Assets

6. INTANGIBLE ASSETS

Trademarks

Trademarks included in other intangible assets, net, are considered indefinite-lived assets and totaled $240.2 million at November 2, 2013 and February 2, 2013.

During the fourth quarter of fiscal 2013, the Company entered into a sales agreement, in the amount of $7.5 million, for certain Asian trademark rights with respect to John Henry. This transaction closed in the first quarter of fiscal 2014. The Company collected proceeds of $4.9 million and $2.6 million during the first quarter of fiscal 2014 and the fourth quarter of fiscal 2013, respectively. As a result of this transaction, the Company recorded a gain of $6.3 million in the licensing segment. The Company plans to continue executing on the domestic strategy of the John Henry brand as a modern lifestyle resource to select retailers and through its licensing relationships in Latin America.

Other

Other intangible assets represent:

	November 2, 2013			February 2, 2013
	(in thousands)
Customer lists	$	8,450		$	8,450
Less: accumulated amortization		(2,631	)		(1,927	)
Total	$	5,819		$	6,523

For the three months ended November 2, 2013 and October 27, 2012, amortization expense relating to customer lists amounted to $0.2 million, respectively, for each period. For the nine months ended November 2, 2013 and October 27, 2012, amortization expense relating to customer lists amounted to $0.7 million, respectively, for each period. Other intangible assets are amortized over their estimated useful lives of 10 years. Assuming no impairment, the estimated amortization expense for future periods based on recorded amounts as of November 2, 2013, will be approximately $0.9 million a year through fiscal 2019.