Goodwill and Other Intangible Assets, Net
|6 Months Ended|
Aug. 05, 2018
|Goodwill and Intangible Assets Disclosure [Abstract]|
|GOODWILL AND OTHER INTANGIBLE ASSETS, NET||
Note 3 – Goodwill and Other Intangible Assets, Net
In accordance with US GAAP, goodwill is not amortized, but rather tested for impairment at least annually by comparing the estimated fair values to their carrying values. There were no triggering events that occurred during the thirteen and twenty-six weeks ended August 5, 2018 or July 30, 2017 that required the Company to test for impairment.
A summary of other intangible assets follows:
Amortization expense associated with intangible assets subject to amortization is included in depreciation and amortization expense on the accompanying condensed consolidated statements of operations. Amortization expense on other intangible assets was $40,182 and $52,324 for the thirteen weeks and $78,336 and $112,631 for the twenty-six weeks ended August 5, 2018 and July 30, 2017, respectively.
As of August 5, 2018, estimated future amortization expense associated with intangible assets subject to amortization is as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef