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Goodwill and Other Intangible Assets | 3 Months Ended
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May 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Indefinite Lived Intangible Assets
| May 2, 2020 |  | February 1, 2020 |  | May 4, 2019
| (millions)
Non-amortizing intangible assets |  |  |  |  |
Goodwill | $ | 9,290 |  |  | $ | 9,290 |  |  | $ | 9,290 |
Accumulated impairment losses | (8,452 | ) |  | (5,382 | ) |  | (5,382 | )
| 838 |  |  | 3,908 |  |  | 3,908 |
Tradenames | 403 |  |  | 403 |  |  | 403 |
| $ | 1,241 |  |  | $ | 4,311 |  |  | $ | 4,311 |
As a result of the sustained decline in the Company's market capitalization and changes in the Company's long-term projections driven largely by the impacts of the COVID-19 pandemic, the Company determined a triggering event had occurred that required an interim impairment assessment for all of its reporting units and indefinite lived intangible assets. The Company determined the fair value of each of its reporting units using a market approach, an income approach, or a combination of both, where appropriate. Relative to the prior assessment, as part of this current assessment, it was determined that an increase in the discount rate applied in the valuation was required to align with market-based assumptions and company-specific risk. This higher discount rate, in conjunction with revised long-term projections, resulted in lower fair values of the reporting units. As a result the Company recognized $2,972 million and $98 million of goodwill impairment for the Macy's and bluemercury reporting units, respectively, during the first quarter of 2020.

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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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