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Goodwill and Other Intangible Assets | 12 Months Ended
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Feb. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The following summarizes the Company's goodwill and other intangible assets:
| February 1, 2025 |  | February 3, 2024
| (millions)
Non-amortizing intangible assets |  |  |
Goodwill | $ | 9,290 |  |  | $ | 9,290 |
Accumulated impairment losses | (8,462) |  |  | (8,462) |
| 828 |  |  | 828 |
Tradenames | 376 |  |  | 376 |
| $ | 1,204 |  |  | $ | 1,204 |
Amortizing intangible assets |  |  |
Favorable leases and other contractual assets | $ | 5 |  |  | $ | 5 |
Tradenames | 70 |  |  | 70 |
| 75 |  |  | 75 |
Accumulated amortization |  |  |
Favorable leases and other contractual assets | (2) |  |  | (1) |
Tradenames | (24) |  |  | (20) |
| (26) |  |  | (21) |
| $ | 49 |  |  | $ | 54 |
Capitalized software |  |  |
Gross balance | $ | 1,431 |  |  | $ | 1,203 |
Accumulated amortization | (629) |  |  | (447) |
| $ | 802 |  |  | $ | 757 |
For the Company's annual impairment assessment as of the end of fiscal May 2024 and 2023, the Company elected to perform a qualitative impairment test on its goodwill and intangible assets with indefinite lives and concluded that it is more likely than not that the fair values exceeded the carrying values and therefore goodwill and intangible assets with indefinite lives were not impaired. During the third quarter of fiscal 2023, the Company observed a general decline in the market valuation of the Company’s common shares and performed an interim qualitative impairment test on its reporting units. As a result of this test, the Company concluded that it was more likely than not that the fair values of its reporting units exceeded the carrying values and goodwill was not impaired. Finite lived tradenames are being amortized over their respective useful lives ranging from 10 years to 20 years. Favorable lease intangible assets and other contractual assets are being amortized over their respective lease or contract terms. Other contractual assets and tradenames amortization expense amounted to $5 million for 2024 and $2 million for each of 2023 and 2022. Capitalized software amortization expense amounted to $310 million for 2024, $269 million for 2023 and $235 million for 2022. Future estimated amortization expense for assets, excluding in-process capitalized software of $95 million not yet placed in service as of February 1, 2025, is shown below:
| Amortizing intangible assets |  | Capitalized Software
(millions)
Fiscal year |  |  |
2025 | $ | 5 |  |  | $ | 309 |
2026 | 5 |  |  | 229 |
2027 | 5 |  |  | 127 |
2028 | 5 |  |  | 41 |
2029 | 5 |  |  | 1 |

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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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