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Goodwill and Intangible Assets | 6 Months Ended
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Jul. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill There was no change in the carrying amount of goodwill during the six months ended July 31, 2021. The g oodwill balance consisted of the following (dollars in thousands):
|  | July 31, 2021 |  | January 30, 2021
Goodwill, gross |  | $ | 521,516 |  |  | $ | 521,516 |
Accumulated impairment losses |  | (249,031) |  |  | (249,031) |
Total |  | $ | 272,485 |  |  | $ | 272,485 |
The Company’s goodwill resides in multiple reporting units and primarily consists of expected synergies, together with the expansion of the Company’s geographic presence and strengthening of its customer base from acquisitions. 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, increased costs of providing services, and the level of overall economic activity. The Company’s customers may reduce capital expenditures and defer or cancel pending projects due to changes in technology, a slowing or uncertain economy, merger or acquisition activity, a decision to allocate resources to other areas of their business, or other reasons. The profitability of reporting units may also suffer if actual costs of providing services exceed the costs anticipated when the Company enters into contracts. 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. During fiscal 2021 the economy of the United States was severely impacted by the nation’s response to the COVID-19 pandemic. Measures taken include travel restrictions, social distancing requirements, quarantines, and shelter in place orders. As a result, businesses have been closed and certain business activities curtailed for varying periods of time and in varying geographic regions. During the COVID-19 pandemic, our services have generally been considered essential in nature and have not been materially interrupted. However, certain customers of one of the Company’s reporting units (“Broadband”) restricted our technicians from entering third party premises. Furthermore, customers had modified their protocols to increase the self-installation of customer premise equipment by their subscribers. The events following the onset of COVID-19 were expected to result in a prolonged downturn in customer demand for installation services and to have a direct, adverse impact on its revenue, operating results and cash flows. As a result, during the quarter ended April 25, 2020 the Company recognized an impairment charge of $53.3 million which is the amount by which the carrying amount exceeded the reporting unit’s fair value. The Company performs its annual impairment assessment as of the first day of the fourth fiscal quarter of each fiscal year. As a result of the Company’s fiscal 2021 period assessment, the Company concluded that no impairment of goodwill or the indefinite-lived intangible asset was indicated at any reporting unit for any of the periods other than the first quarter of fiscal 2021. As of July 31, 2021, the Company continues to believe the remaining goodwill and the indefinite-lived intangible asset are recoverable for all of its reporting units. Intangible Assets Our intangible assets consisted of the following (dollars in thousands):
| July 31, 2021 |  | January 30, 2021
| Weighted Average Remaining Useful Lives (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Intangible Assets, Net
Customer relationships | 8.9 |  | $ | 312,017 |  |  | $ | 207,798 |  |  | $ | 104,219 |  |  | $ | 312,017 |  |  | $ | 198,604 |  |  | $ | 113,413 |
Trade names, finite | 8.3 |  | 10,350 |  |  | 9,301 |  |  | 1,049 |  |  | 10,350 |  |  | 9,141 |  |  | 1,209 |
Trade name, indefinite | — |  | 4,700 |  |  | — |  |  | 4,700 |  |  | 4,700 |  |  | — |  |  | 4,700 |
|  |  | $ | 327,067 |  |  | $ | 217,099 |  |  | $ | 109,968 |  |  | $ | 327,067 |  |  | $ | 207,745 |  |  | $ | 119,322 |
Amortization of our customer relationship intangibles is recognized on an accelerated basis as a function of the expected economic benefit. Amortization of our other finite-lived intangibles is recognized on a straight-line basis over the estimated useful life. Amortization expense for finite-lived intangible assets was $4.7 million and $5.2 million for the three months ended July 31, 2021 and July 25, 2020, respectively, and $9.4 million and $10.4 million for the six months ended July 31, 2021 and July 25, 2020, respectively. As of July 31, 2021, we believe that the carrying amounts of our 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.

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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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