Goodwill and Intangible Assets, net

12 Months Ended

Jan. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

9. Goodwill and Intangible Assets, net

Goodwill and definite-lived intangible assets, net consist of the following:


	January 28, 2023											January 29, 2022
(In thousands)	American Eagle			Aerie		Corporate and Other (2)			Total			American Eagle		Aerie		Corporate and Other (2)		Total
Goodwill, beginning balance(1)	$	114,883		$	110,600	$	45,933		$	271,416		$	13,267	$	—	$	—	$	13,267
Additions		—			—		—			—			101,600		110,600		45,933		258,133
Purchase accounting adjustment		—			—		(6,335	)		(6,335	)		—		—		—		—
Foreign currency fluctuation		(136	)		—		—			(136	)		16		—		—		16
Goodwill, ending balance	$	114,747		$	110,600	$	39,598		$	264,945		$	114,883	$	110,600	$	45,933	$	271,416

(1)

Beginning balances for both periods include accumulated impairment of $4.2 million.

(2)

Corporate and Other includes goodwill allocated to the Quiet Platforms reporting unit, which has been identified as a separate operating segment, but is not material to disclose as a separate reportable segment.


(In thousands)	January 28, 2023			January 29, 2022
Intangible assets, beginning balance, at cost	$	102,701		$	57,065
Additions		985			52,580
Amortization		(9,150	)		(6,944	)
Intangible assets, net (1)	$	94,536		$	102,701

(1) The ending balance includes accumulated amortization of $51.7 million and $42.1 million as of January 28, 2023 and January 29, 2022, respectively.

Amortization expense is as follows:


(In thousands)	January 28, 2023		January 29, 2022		January 30, 2021
Amortization expense	$	9,162	$	6,468	$	3,752

The table below summarizes the estimated future amortization expense for intangible assets existing as of January 28, 2023 for the next five fiscal years:


	Future
(In thousands)	Amortization
2023	$	8,912
2024	$	8,789
2025	$	8,653
2026	$	8,531
2027	$	8,459