GOODWILL AND INTANGIBLE ASSETS
|12 Months Ended|
Feb. 01, 2020
|GOODWILL AND INTANGIBLE ASSETS|
|GOODWILL AND INTANGIBLE ASSETS||
8. GOODWILL AND INTANGIBLE ASSETS
Changes in the net carrying amount of goodwill for the years ended February 1, 2020 and February 2, 2019 are as follows (in thousands):
As of February 1, 2020 and February 2, 2019, accumulated goodwill impairment totaled $780.0 million.
The gross carrying amount and accumulated amortization of our identifiable intangible assets are as follows (in thousands):
The elimination of favorable leases is due to the adoption of ASC 842, effective February 3, 2019. See Note 17 for additional information. The decrease in trademarks, tradenames and franchise agreements and the elimination of customer relationships is due to the sale of our corporate apparel business. See Note 2 for additional information. In addition, the decrease in indefinite-lived trademarks and tradenames reflects the reclassification of the Joseph Abboud tradename totaling $30.0 million as an asset held for sale in the consolidated balance sheets due to the sale of the Joseph Abboud trademarks which closed on March 4, 2020. See Note 23 for additional information.
Amortization expense associated with intangible assets subject to amortization totaled approximately $0.2 million, $1.6 million and $1.8 million for fiscal 2019, 2018 and 2017, respectively. Amortization expense associated with intangible assets subject to amortization at February 1, 2020 is estimated to be approximately $0.2 million each year for fiscal years 2020-2024.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef