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Intangible Assets

12 Months Ended

Feb. 01, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

5. Intangible Assets

Intangible assets at February 1, 2020 consist primarily of tradenames. Intangible assets at February 2, 2019 consisted primarily of tradenames and favorable lease positions. As a result of adopting ASU 2016-02, most of the Company’s favorable lease positions are included in “Operating lease assets” on the Company’s Consolidated Balance Sheet as of February 1, 2020.

	(in thousands)
	February 1, 2020							February 2, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Amount		Gross Carrying Amount		Accumulated Amortization			Net Amount
Tradenames	$	238,000	$	—		$	238,000	$	238,000	$	—		$	238,000
Favorable leases	$	3,506	$	(2,775	)	$	731	$	420,537	$	(256,213	)	$	164,324

Favorable Leases

The total amount of net favorable lease amortization during Fiscal 2018 and Fiscal 2017 was $26.1 million and $23.3 million, respectively, and was included in “Depreciation and amortization” on the Company’s Consolidated Statements of Income. As a result of adopting ASU 2016-02, amortization of favorable leases is part of operating lease cost, included in “Selling, general and administrative expenses” on the Company’s Consolidated Statement of Income for Fiscal 2019. The Company recorded impairment charges of $2.9 million and $0.8 million related to its favorable leases during Fiscal 2018 and Fiscal 2017, respectively.