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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Feb. 02, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill The following table presents the changes in the carrying amount of our goodwill:
in millions | Primary Segment |  | Other |  | Consolidated
Goodwill, balance at January 29, 2023 | $ | 7,444 |  |  | $ | — |  |  | $ | 7,444 |
Acquisitions (1) | 998 |  |  | — |  |  | 998 |
Other (2) | 13 |  |  | — |  |  | 13 |
Goodwill, balance at January 28, 2024 | 8,455 |  |  | — |  |  | 8,455 |
Acquisitions (1) | 23 |  |  | 11,025 |  |  | 11,048 |
Other (2) | (28) |  |  | — |  |  | (28) |
Goodwill, balance at February 2, 2025 | $ | 8,450 |  |  | $ | 11,025 |  |  | $ | 19,475 |
————— (1) Activity includes the preliminary determination of goodwill related to acquisitions completed during the fiscal year. Amounts presented in the Other column represent goodwill related to the SRS acquisition completed in the second quarter of fiscal 2024, as well as other immaterial acquisitions completed by SRS during the second half of fiscal 2024. See Note 13 for further details. (2) Primarily reflects the net impact of foreign currency translation as well as immaterial measurement period adjustments related to acquisitions completed in the prior fiscal year. During the third quarter of fiscal 2024, we completed our annual assessment of the recoverability of goodwill for our U.S., Canada, and Mexico reporting units that reside within our Primary segment. As the results of our most recent quantitative analysis in fiscal 2023 indicated that the fair value of each reporting unit substantially exceeded its respective carrying value, we performed a qualitative assessment to determine if there were any indicators of impairment. Based on this assessment, we concluded that while there have been events and circumstances that have both positively and negatively impacted our reporting units, no single factor or combination of factors is an indicator that it is more likely than not that the fair value of any of these reporting units was less than its carrying amount. Additionally, following the completion of the SRS acquisition, we now have three new reporting units which align with our SRS operating segments: roofing and complementary building products, landscape, and pool. As a result of the recency of the acquisition to our annual assessment date, these reporting units were also analyzed for impairment during the third quarter of fiscal 2024 using a qualitative approach. Based on this analysis, we concluded that there were no events or circumstances that would indicate that it is more likely than not that the fair value of any of these reporting units was less than its carrying amount. There were also no impairment charges related to goodwill in fiscal 2023 or fiscal 2022. Intangible Assets The following table presents information regarding our intangible assets:
| February 2, 2025 (1) |  | January 28, 2024
in millions | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-Lived Intangible Assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 8,845 |  |  | $ | (1,035) |  |  | $ | 7,810 |  |  | $ | 3,425 |  |  | $ | (670) |  |  | $ | 2,755 |
Trade names | 610 |  |  | (86) |  |  | 524 |  |  | 227 |  |  | (25) |  |  | 202 |
Other | 11 |  |  | (11) |  |  | — |  |  | 12 |  |  | (12) |  |  | — |
Indefinite-Lived Intangible Assets: |  |  |  |  |  |  |  |  |  |  |
Trade names | 649 |  |  |  |  | 649 |  |  | 649 |  |  |  |  | 649 |
Total Intangible Assets | $ | 10,115 |  |  | $ | (1,132) |  |  | $ | 8,983 |  |  | $ | 4,313 |  |  | $ | (707) |  |  | $ | 3,606 |
————— (1) Includes the allocation of fair value to intangible assets related to the SRS acquisition, as well as other immaterial acquisitions completed during fiscal 2024. See Note 13 for further details. Our intangible asset amortization expense was $425 million, $186 million and $179 million for fiscal 2024, fiscal 2023, and fiscal 2022, respectively. The following table presents the estimated future amortization expense related to definite-lived intangible assets as of February 2, 2025:
in millions | Amortization Expense
Fiscal 2025 | $ | 553 |
Fiscal 2026 | 553 |
Fiscal 2027 | 545 |
Fiscal 2028 | 528 |
Fiscal 2029 | 486 |
Thereafter | 5,669 |
Total | $ | 8,334 |
During the third quarter of fiscal 2024, we completed our annual assessment of the recoverability of our indefinite-lived intangible assets using a quantitative analysis and concluded no impairment losses should be recognized. There were no impairment charges related to any of our definite or indefinite-lived intangible assets in fiscal 2024, fiscal 2023, or fiscal 2022.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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