Goodwill and Other Intangible Assets, Net
|9 Months Ended|
Nov. 04, 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 thirty-nine weeks ended November 4, 2018 or October 29, 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 $59,930 and $65,311 for the thirteen weeks and $138,266 and $177,942 for the thirty-nine weeks ended November 4, 2018 and October 29, 2017, respectively.
As of November 4, 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