XML 59 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

Goodwill and Intangible Assets | 3 Months Ended
--- | ---
May 02, 2020
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | 3. Goodwill and Intangible Assets See Note 1, Basis of Presentation, for impairment considerations for the three months ended May 2, 2020, due to COVID-19. No impairment charges were recorded during the fiscal periods presented. Goodwill Balances related to goodwill were as follows ($ in millions):
| May 2, 2020 |  | February 1, 2020 |  | May 4, 2019
| Gross Carrying ‎Amount |  | Cumulative ‎Impairment |  | Gross Carrying ‎Amount |  | Cumulative ‎Impairment |  | Gross Carrying ‎Amount |  | Cumulative ‎Impairment
Domestic | $ | 1,053 |  |  | $ | (67) |  |  | $ | 1,051 |  |  | $ | (67) |  |  | $ | 982 |  |  | $ | (67) |
International |  | 608 |  |  |  | (608) |  |  |  | 608 |  |  |  | (608) |  |  |  | 608 |  |  |  | (608) |
Total | $ | 1,661 |  |  | $ | (675) |  |  | $ | 1,659 |  |  | $ | (675) |  |  | $ | 1,590 |  |  | $ | (675) |
Indefinite-Lived Intangible Assets During the three months ended May 2, 2020, we made the decision to phase out our Pacific Sales tradename in our U.S. Best Buy stores over the coming years. Consequently, we reclassified the tradename from an indefinite-lived intangible asset to a definite-lived intangible asset and have no indefinite-lived intangible assets remaining as of May 2, 2020. The carrying value of the tradename was $18 million as of February 1, 2020, and May 4, 2019, respectively, and was recorded within Other assets on our Condensed Consolidated Balance Sheets. Definite-Lived Intangible Assets We have definite-lived intangible assets which are recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):
| May 2, 2020 |  | February 1, 2020 |  | May 4, 2019 |  | Weighted-Average
| Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Useful Life Remaining as of May 2, 2020 (in years)
Customer relationships | $ | 339 |  |  | $ | 83 |  |  | $ | 339 |  |  | $ | 70 |  |  | $ | 258 |  |  | $ | 29 |  |  |  | 6.9 |
Tradenames |  | 81 |  |  |  | 13 |  |  |  | 63 |  |  |  | 10 |  |  |  | 63 |  |  |  | 5 |  |  |  | 5.5 |
Developed technology |  | 56 |  |  |  | 18 |  |  |  | 56 |  |  |  | 15 |  |  |  | 52 |  |  |  | 6 |  |  |  | 3.3 |
Total | $ | 476 |  |  | $ | 114 |  |  | $ | 458 |  |  | $ | 95 |  |  | $ | 373 |  |  | $ | 40 |  |  |  | 6.3 |
Amortization expense was as follows ($ in millions):
|  |  |  |  |  |  | Three Months Ended
|  |  | Statement of Earnings Location |  | May 2, 2020 |  | May 4, 2019
Amortization expense |  | SG&A |  |  | $ | 19 |  |  | $ | 17 |
Amortization expense expected to be recognized in future periods is as follows ($ in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortization Expense
Remainder of fiscal 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 61 |
Fiscal 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 80 |
Fiscal 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 79 |
Fiscal 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 54 |
Fiscal 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Fiscal 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Thereafter |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 56 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration