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Goodwill and Intangible Assets, net
 12 Months Ended
Feb. 01, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net

7. Goodwill and Intangible Assets, Net

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

 

 

 

Fiscal Years Ending

 

 

 

February 1, 2025

 

 

February 3, 2024

 

(In thousands)

 

American Eagle

 

 

Aerie

 

 

Corporate and Other (3)

 

 

Total

 

 

American Eagle

 

 

Aerie

 

 

Corporate and Other (3)

 

 

Total

 

Goodwill, beginning balance(1)

 

$

114,703

 

 

$

110,600

 

 

$

-

 

 

$

225,303

 

 

$

114,747

 

 

$

110,600

 

 

$

39,598

 

 

$

264,945

 

Impairment(2)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(39,598

)

 

 

(39,598

)

Foreign currency fluctuation

 

 

(224

)

 

 

 

 

 

 

 

 

(224

)

 

 

(44

)

 

 

—

 

 

 

—

 

 

 

(44

)

Goodwill, ending balance

 

$

114,479

 

 

$

110,600

 

 

$

-

 

 

$

225,079

 

 

$

114,703

 

 

$

110,600

 

 

$

-

 

 

$

225,303

 

 

(1)
Beginning balances include accumulated impairment of $43.8 million and $4.2 million as of February 1, 2025 and February 3, 2024, respectively.
(2)
Goodwill for the Quiet Platforms reporting unit was fully impaired during Fiscal 2023. Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information.
(3)
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.

 

 

 

Fiscal Years Ending

 

(In thousands)

 

February 1, 2025

 

 

February 3, 2024

 

Intangible assets, net, beginning balance

 

$

46,109

 

 

$

94,536

 

Additions

 

 

772

 

 

 

826

 

Impairment(1)

 

 

—

 

 

 

(40,533

)

Amortization

 

 

(4,432

)

 

 

(8,720

)

Intangible assets, net (2)

 

$

42,449

 

 

$

46,109

 

 

 

(1)
Impairment included $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023. Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information
(2)
The ending balance includes accumulated amortization of $104.9 million and $100.9 million as of February 1, 2025 and February 3, 2024, respectively.

Amortization expense is as follows:

 

 

 

Fiscal Years Ending

 

(In thousands)

 

February 1, 2025

 

 

February 3, 2024

 

 

January 28, 2023

 

Amortization expense

 

$

4,432

 

 

$

8,748

 

 

$

9,162

 

 

The table below summarizes the estimated future amortization expense for intangible assets existing as of February 1, 2025 for the next five fiscal years:

 

 

 

Future

 

 

(In thousands)

 

Amortization

 

 

2025

 

$

4,142

 

 

2026

 

$

4,056

 

 

2027

 

$

3,958

 

 

2028

 

$

3,876

 

 

2029

 

$

3,702