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Goodwill and Intangible Assets | 6 Months Ended
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Jul. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The Company’s goodwill balance was $325.7 million and $321.7 million as of July 28, 2018 and January 27, 2018, respectively. Changes in the carrying amount of goodwill were as follows (dollars in thousands):
| Goodwill |  | Accumulated Impairment Losses |  | Total
Balance as of January 27, 2018 | $ | 517,510 |  |  | $ | (195,767 | ) |  | $ | 321,743 |
Goodwill from fiscal 2019 acquisition | 4,097 |  |  | — |  |  | 4,097 |
Purchase price allocation adjustments from fiscal 2019 acquisition | (91 | ) |  | — |  |  | (91 | )
Balance as of July 28, 2018 | $ | 521,516 |  |  | $ | (195,767 | ) |  | $ | 325,749 |
The Company’s goodwill resides in multiple reporting units and primarily consists of expected synergies resulting from acquisitions, including the expansion of the Company’s geographic presence and strengthening of its customer base. Goodwill and other indefinite-lived intangible assets are assessed annually for impairment, or more frequently if events occur that would indicate a potential reduction in the fair value of a reporting unit below its carrying value. The profitability of individual reporting units may suffer periodically due to downturns in customer demand and the level of overall economic activity including, in particular, construction and housing activity. The Company’s customers may reduce capital expenditures and defer or cancel pending projects during times of slowing economic conditions. Additionally, adverse conditions in the economy and future volatility in the equity and credit markets could impact the valuation of the Company’s reporting units. The cyclical nature of the Company’s business, the high level of competition existing within its industry, and the concentration of its revenues from a limited number of customers may also cause results to vary. These factors may affect individual reporting units disproportionately, relative to the Company as a whole. As a result, the performance of one or more of the reporting units could decline, resulting in an impairment of goodwill or intangible assets. The Company has historically completed its annual goodwill impairment assessment as of the first day of the fourth fiscal quarter of each year. As a result of the change in the Company’s fiscal year end, the annual goodwill impairment assessment date was changed to the first day of the fiscal quarter ending on the last Saturday in January, as this became the first day of the Company’s fourth fiscal quarter. For the 2018 transition period, the assessment was performed as of October 29, 2017. As a result of the Company’s 2018 transition period assessment, the Company determined that the fair values of each of the reporting units and the indefinite-lived intangible asset were substantially in excess of their carrying values and no impairment had occurred. As of July 28, 2018, the Company continues to believe the goodwill and the indefinite-lived intangible asset are recoverable for all of its reporting units; however, significant adverse changes in the projected revenues and cash flows of a reporting unit could result in an impairment of goodwill or the indefinite-lived intangible asset. There can be no assurances that goodwill or the indefinite-lived intangible asset may not be impaired in future periods. Intangible Assets The Company’s intangible assets consisted of the following (dollars in thousands):
| July 28, 2018 |  | January 27, 2018
| Weighted Average Remaining Useful Lives (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net
Customer relationships | 11.5 |  | $ | 312,017 |  |  | $ | 146,740 |  |  | $ | 165,277 |  |  | $ | 299,717 |  |  | $ | 135,544 |  |  | $ | 164,173 |
Trade names | 8.2 |  | 10,350 |  |  | 8,103 |  |  | 2,247 |  |  | 10,350 |  |  | 7,872 |  |  | 2,478 |
UtiliQuest trade name | — |  | 4,700 |  |  | — |  |  | 4,700 |  |  | 4,700 |  |  | — |  |  | 4,700 |
Non-compete agreements | 2.0 |  | 200 |  |  | 119 |  |  | 81 |  |  | 450 |  |  | 332 |  |  | 118 |
|  |  | $ | 327,267 |  |  | $ | 154,962 |  |  | $ | 172,305 |  |  | $ | 315,217 |  |  | $ | 143,748 |  |  | $ | 171,469 |
Amortization of the Company’s customer relationship intangibles is recognized on an accelerated basis as a function of the expected economic benefit. Amortization for the Company’s other finite-lived intangibles is recognized on a straight-line basis over the estimated useful life. Amortization expense for finite-lived intangible assets was $5.8 million and $6.3 million for the three months ended July 28, 2018 and July 29, 2017, respectively, and $11.5 million and $12.5 million for the six months ended July 28, 2018 and July 29, 2017, respectively. As of July 28, 2018, the Company believes that the carrying amounts of its intangible assets are recoverable. However, if adverse events were to occur or circumstances were to change indicating that the carrying amount of such assets may not be fully recoverable, the assets would be reviewed for impairment and the assets could be impaired.

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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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