XML 35 R18.htm IDEA: XBRL DOCUMENT v3.24.0.1
Goodwill and Intangible Assets, net
 12 Months Ended
Feb. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net

8. Goodwill and Intangible Assets, net

Goodwill and definite-lived intangible assets, net consist of the following:

 

 

 

Fiscal Years Ending

 

 

 

February 3, 2024

 

 

January 28, 2023

 

(In thousands)

 

American Eagle

 

 

Aerie

 

 

Corporate and Other (3)

 

 

Total

 

 

American Eagle

 

 

Aerie

 

 

Corporate and Other (3)

 

 

Total

 

Goodwill, beginning balance(1)

 

$

114,747

 

 

$

110,600

 

 

$

39,598

 

 

$

264,945

 

 

$

114,883

 

 

$

110,600

 

 

$

45,933

 

 

$

271,416

 

Impairment(2)

 

 

—

 

 

 

—

 

 

 

(39,598

)

 

 

(39,598

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Purchase accounting adjustment

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(6,335

)

 

 

(6,335

)

Foreign currency fluctuation

 

 

(44

)

 

 

—

 

 

 

—

 

 

 

(44

)

 

 

(136

)

 

 

—

 

 

 

—

 

 

 

(136

)

Goodwill, ending balance

 

$

114,703

 

 

$

110,600

 

 

$

-

 

 

$

225,303

 

 

$

114,747

 

 

$

110,600

 

 

$

39,598

 

 

$

264,945

 

 

(1)
Beginning balances for both periods include accumulated impairment of $4.2 million.
(2)
Goodwill for the Quiet Platforms reporting unit was fully impaired during Fiscal 2023. Refer to Note 16 of the Consolidated Financial Statements for additional information.
(3)
Corporate and Other includes goodwill allocated to the Quiet Platforms reporting unit, which has been identified as a separate operating segment, but is not material to disclose as a separate reportable segment.

 

 

 

Fiscal Years Ending

 

(In thousands)

 

February 3, 2024

 

 

January 28, 2023

 

Intangible assets, beginning balance, at cost

 

$

94,536

 

 

$

102,701

 

Additions

 

 

826

 

 

 

985

 

Impairment(1)

 

 

(40,533

)

 

 

—

 

Amortization

 

 

(8,720

)

 

 

(9,150

)

Intangible assets, net (2)

 

$

46,109

 

 

$

94,536

 

 

(1)
Impairment included $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms. Refer to Note 16 of the Consolidated Financial Statements for additional information
(2)
The ending balance includes accumulated amortization of $100.9 million and $51.7 million as of February 3, 2024 and January 28, 2023, respectively.

Amortization expense is as follows:

 

 

 

Fiscal Years Ending

 

(In thousands)

 

February 3, 2024

 

 

January 28, 2023

 

 

January 29, 2022

 

Amortization expense

 

$

8,748

 

 

$

9,162

 

 

$

6,468

 

 

The table below summarizes the estimated future amortization expense for intangible assets existing as of February 3, 2024 for the next five fiscal years:

 

 

 

Future

 

 

(In thousands)

 

Amortization

 

 

2024

 

$

4,232

 

 

2025

 

$

4,093

 

 

2026

 

$

3,970

 

 

2027

 

$

3,899

 

 

2028

 

$

3,817