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Goodwill and Intangible Assets | 3 Months Ended
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May 01, 2021
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | 4. Goodwill and Intangible Assets Goodwill Balances related to goodwill remained unchanged as of May 1, 2021, January 30, 2021, and May 2, 2020, as follows ($ in millions):
| Gross Carrying Amount |  | Cumulative Impairment
Domestic | $ | 1,053 |  |  | $ | (67) |
International |  | 608 |  |  |  | (608) |
Total | $ | 1,661 |  |  | $ | (675) |
No impairment charges were recorded during the fiscal periods presented. Indefinite-Lived Intangible Assets In the first quarter of fiscal 2021, 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. 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 1, 2021 |  | January 30, 2021 |  | May 2, 2020 |  | Weighted-Average
| Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Useful Life Remaining as of May 1, 2021 (in years)
Customer relationships | $ | 339 |  |  | $ | 138 |  |  | $ | 339 |  |  | $ | 124 |  |  | $ | 339 |  |  | $ | 83 |  |  |  | 6.5 |
Tradenames |  | 81 |  |  |  | 27 |  |  |  | 81 |  |  |  | 24 |  |  |  | 81 |  |  |  | 13 |  |  |  | 4.7 |
Developed technology |  | 56 |  |  |  | 30 |  |  |  | 56 |  |  |  | 27 |  |  |  | 56 |  |  |  | 18 |  |  |  | 2.3 |
Total | $ | 476 |  |  | $ | 195 |  |  | $ | 476 |  |  | $ | 175 |  |  | $ | 476 |  |  | $ | 114 |  |  |  | 5.8 |
Amortization expense was as follows ($ in millions):
|  |  | Statement of |  | Three Months Ended
|  |  | Earnings Location |  | May 1, 2021 |  | May 2, 2020
Amortization expense | SG&A |  |  | $ | 20 |  |  | $ | 19 |
Amortization expense expected to be recognized in future periods is as follows ($ in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortization Expense
Remainder of fiscal 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 60 |
Fiscal 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 79 |
Fiscal 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 54 |
Fiscal 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Fiscal 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Fiscal 2027 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Thereafter |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 43 |

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- References No definition available. + Details
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- 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
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Namespace Prefix: | us-gaap_
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