Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.2
Intangible Assets
6 Months Ended
Aug. 01, 2020
Intangible Assets [Abstract]  
Intangible Assets
Intangible Assets
Intangible assets in the accompanying condensed consolidated balance sheets consisted of the following:
 
 
Estimated Useful Life
(In Years)
 
August 1, 2020
 
February 1, 2020
 
 
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Trade Names
 
3-15
 
$
1,568,000

 
$
(71,000
)
 
$
1,568,000

 
$
(19,000
)
Technology
 
4
 
772,000

 
(132,000
)
 
772,000

 
(35,000
)
Customer Lists
 
3-5
 
339,000

 
(54,000
)
 
339,000

 
(14,000
)
Vendor Exclusivity
 
5
 
192,000

 
(48,000
)
 
192,000

 
(29,000
)
Total finite-lived intangible assets
 
 
 
$
2,871,000

 
$
(305,000
)
 
$
2,871,000

 
$
(97,000
)
Finite-lived Intangible Assets
The finite-lived intangible assets are included in other assets in the accompanying condensed consolidated balance sheets and consist of the J.W. Hulme trade name and customer list; the Float Left developed technology, customer relationships and trade name; and a vendor exclusivity agreement. Amortization expense related to the finite-lived intangible assets was $104,000 and $945,000 for the three-month periods ended August 1, 2020 and August 3, 2019 and $208,000 and $986,000 for the six-month periods ended August 1, 2020 and August 3, 2019. Estimated amortization expense is $415,000 for fiscal 2020 and fiscal 2021, $410,000 for fiscal 2022, $352,000 for fiscal 2023, and $156,000 for fiscal 2024.