Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.1
Intangible Assets
 3 Months Ended
May 02, 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)
 
May 2, 2020
 
February 1, 2020
 
 
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Trade Names
 
3-15
 
$
1,568,000

 
$
(45,000
)
 
$
1,568,000

 
$
(19,000
)
Customer Lists
 
3-5
 
$
339,000

 
$
(34,000
)
 
$
339,000

 
$
(14,000
)
Technology
 
4
 
$
772,000

 
$
(83,000
)
 
$
772,000

 
$
(35,000
)
Vendor Exclusivity
 
5
 
$
192,000

 
$
(39,000
)
 
$
192,000

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

 
$
(201,000
)
 
$
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 $41,000 for the three-month periods ended May 2, 2020 and May 4, 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.