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Goodwill and Intangible Assets | 3 Months Ended
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May 03, 2025
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets | 3. Goodwill and Intangible Assets Goodwill Goodwill balances by segment were as follows ($ in millions):
| May 3, 2025 |  | February 1, 2025 |  | May 4, 2024
| Gross Carrying Amount |  | Cumulative Impairment |  | Gross Carrying Amount |  | Cumulative Impairment |  | Gross Carrying Amount |  | Cumulative Impairment
Domestic | $ | 1,450 |  |  | $ | (542) |  |  | $ | 1,450 |  |  | $ | (542) |  |  | $ | 1,450 |  |  | $ | (67) |
International |  | 608 |  |  |  | (608) |  |  |  | 608 |  |  |  | (608) |  |  |  | 608 |  |  |  | (608) |
Total | $ | 2,058 |  |  | $ | (1,150) |  |  | $ | 2,058 |  |  | $ | (1,150) |  |  | $ | 2,058 |  |  | $ | (675) |
‎In fiscal 2025, we recorded a goodwill impairment of $475 million within the Domestic segment for the Best Buy Health reporting unit. The restructuring activity that commenced in the first quarter of fiscal 2026 was a triggering event to evaluate the Best Buy Health reporting unit for impairment. No further goodwill impairment was identified. Refer to Note 2, Restructuring, for additional information. Definite-Lived Intangible Assets We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions):
| May 3, 2025 |  | February 1, 2025 |  | May 4, 2024 |  |  |  |
| Gross Carrying ‎Amount(1) |  | Accumulated ‎Amortization(1) |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Gross Carrying ‎Amount |  | Accumulated ‎Amortization |  | Weighted-Average Useful Life Remaining ‎as of May 3, 2025 (in years)
Customer relationships | $ | 339 |  |  | $ | 282 |  |  | $ | 360 |  |  | $ | 285 |  |  | $ | 360 |  |  | $ | 278 |  |  |  | 8.2 |
Tradenames |  | 87 |  |  |  | 76 |  |  |  | 92 |  |  |  | 79 |  |  |  | 108 |  |  |  | 72 |  |  |  | 1.4 |
Developed technology |  | 56 |  |  |  | 56 |  |  |  | 64 |  |  |  | 61 |  |  |  | 64 |  |  |  | 60 |  |  |  | - |
Total | $ | 482 |  |  | $ | 414 |  |  | $ | 516 |  |  | $ | 425 |  |  | $ | 532 |  |  | $ | 410 |  |  |  | 7.1 |
(1)Gross carrying amount and accumulated amortization as of May 3, 2025, excludes $34 million and $16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business. See Note 2, Restructuring, for additional information. Amortization expense was as follows ($ in millions):
|  |  | Three Months Ended
| Statement of Earnings Location | May 3, 2025 |  | May 4, 2024
Amortization expense | Selling, general and administrative expenses |  |  | $ | 5 |  |  | $ | 6 |
Amortization expense expected to be recognized in future periods is as follows ($ in millions):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Amortization Expense
Remainder of fiscal 2026 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 11 |
Fiscal 2027 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13 |
Fiscal 2028 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |
Fiscal 2029 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 |
Fiscal 2030 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 |
Fiscal 2031 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Thereafter |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18 |

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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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