Goodwill and Intangible Assets
|3 Months Ended|
Apr. 30, 2022
|Goodwill and Intangible Assets|
|Goodwill and Intangible Assets||
(6) Goodwill and Intangible Assets
The following table presents the changes in goodwill during the three months ended April 30, 2022:
The acquisition valuation adjustment made to goodwill in the first quarter of 2022 related primarily to a purchase price reallocation made after the Company performed additional analysis and assessments regarding the allocation of the 1-2-3.tv Group purchase price. See Note 15 – “Business Acquisitions.”
Finite-lived Intangible Assets
Intangible assets in the accompanying condensed consolidated balance sheets consisted of the following:
Intangible assets, net in the accompanying balance sheets consist of trade names, technology, customer lists and a vendor exclusivity agreement primarily related to the various acquisitions the Company completed in fiscal 2021 and 2019. Amortization expense related to the finite-lived intangible assets was $804 and $104 for the three-month periods ended April 30, 2022 and May 1, 2021. Estimated future amortization expense is $2,363 for fiscal 2022, $3,094 for fiscal 2023, $2,898 for fiscal 2024, $2,714 for fiscal 2025, and $2,241 for fiscal 2026 and $15,415 thereafter.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef