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Goodwill and Other Intangible Assets
 3 Months Ended
Apr. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
 
Weighted Average Life at 4/30/2020
 
April 30, 2020
 
January 31, 2020
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Impairment
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Impairment
 
Net
Carrying
Amount
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
Goodwill
 
 
$
7,060

 
$
—

 
$
(7,060
)
 
$
—

 
$
7,060

 
$
—

 
$
(4,529
)
 
$
2,531

Proprietary rights
6.8
 
$
9,299

 
$
(5,152
)
 
$
—

 
$
4,147

 
$
9,293

 
$
(4,971
)
 
$
—

 
$
4,322

Customer relationships
1.6
 
5,024

 
(4,002
)
 
—

 
1,022

 
5,024

 
(3,831
)
 
—

 
1,193

Patents
4.3
 
2,440

 
(1,339
)
 
—

 
1,101

 
2,440

 
(1,277
)
 
—

 
1,163

Trade name
6.1
 
894

 
(66
)
 
(760
)
 
68

 
894

 
(63
)
 
(760
)
 
71

Developed technology
5.7
 
1,430

 
(620
)
 
—

 
810

 
1,430

 
(584
)
 
—

 
846

Other
4.2
 
654

 
(99
)
 
—

 
555

 
653

 
(87
)
 
—

 
566

Amortizable intangible assets
 
$
19,741

 
$
(11,278
)
 
$
(760
)
 
$
7,703

 
$
19,734

 
$
(10,813
)
 
$
(760
)
 
$
8,161


Due to the economic impact of the COVID-19 pandemic, the decline in oil prices during the three months ended April 30, 2020 and a decline in the market value of the Company’s equity securities, the Company performed a quantitative review of the Seamap reporting unit and concluded that goodwill had been impaired. As a result, the Company recorded an impairment expense of approximately $2.5 million related to goodwill in the Seamap reporting unit during the quarter ended April 30, 2020.
The impairment of goodwill indicated a possible impairment of other intangible assets. Accordingly, the Company completed a quantitative analysis of the other intangible assets noting that the undiscounted future cash flows exceeded their carrying value and no related impairment has been recorded.
On January 31, 2020, the Company completed an annual review of goodwill and other intangible assets. Based on a review of qualitative factors at that time, it was determined it was more likely than not that the fair value of our Seamap reporting unit was greater than its carrying value. Based on a review of qualitative and quantitative factors at that time, it was determined it was more likely than not that the fair value of our Klein reporting unit was not greater than its carrying value. Accordingly, we recorded an impairment of approximately $760,000 related to indefinite lived intangible assets in the Klein reporting unit as of January 31, 2020.
Aggregate amortization expense was $460,000 and $454,000 for the three months ended April 30, 2020 and 2019, respectively. As of April 30, 2020, future estimated amortization expense related to amortizable intangible assets was estimated to be (in thousands):
For fiscal years ending January 31
 
2020
$
1,312

2021
1,201

2022
1,051

2023
949

2024
710

Thereafter
2,480

Total
$
7,703