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Goodwill and Intangible Assets, Net | 9 Months Ended
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Oct. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | Note 3: Goodwill and Intangible Assets, Net Goodwill — Goodwill is evaluated at the reporting unit level. Goodwill is not subject to amortization and is evaluated for impairment annually or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value below carrying amount. Such events or circumstances generally include the occurrence of operating losses or a significant decline in earnings. The Company is permitted to first assess qualitative factors to determine whether the quantitative goodwill impairment test is necessary. If the qualitative assessment results in a determination that the fair value is more likely than not less than carrying amount, the Company performs a quantitative goodwill impairment test. The Company may bypass the qualitative assessment in any period and proceed directly to the goodwill impairment test. The Company estimates fair value by using forecasts of discounted future cash flows and peer market multiples. The Company would record an impairment charge based on the excess of the carrying amount over fair value (limited to the amount of goodwill). The Company determined that no impairments existed in periods reflected. The carrying amount of goodwill is impacted by foreign currency translation adjustments. The changes in the carrying amount of goodwill during fiscal 2022 and fiscal 2021 are as follows:
Balance at January 31, 2021 |  | $ | 272,597 |
Currency adjustment |  |  | — |
Balance at January 30, 2022 |  |  | 272,597 |
Currency adjustment |  |  | 68 |
Acquisition of Main Event |  |  | 514,383 |
Balance at October 30, 2022 |  | $ | 787,048 |
Intangible assets — Intangible assets consist of favorable and unfavorable lease contracts and tradenames. Favorable and unfavorable lease contracts with definite lives are being amortized using the straight-line method over their estimated useful lives, which range up to 10 years. The Company reviews these intangible assets for impairment when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets. When impairment indicators exist, the Company determines whether the carrying value of its intangible assets exceeds the related undiscounted cash flows. In these situations, the carrying value is written down to fair value. Tradenames with indefinite lives are not amortized and are reviewed for impairment annually or whenever events or changes in circumstances indicate they may be impaired. The Company may perform an optional qualitative assessment. If the Company determines that the fair value of the indefinite-lived intangible asset is more likely than not greater than its carrying amount, no additional testing is necessary. If not, or if the Company bypasses the optional qualitative assessment, the carrying value is written down to the fair value, if applicable. The net carrying amount of intangibles are as follows:
|  | October 30, 2022 |  |  | January 30, 2022 |
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Amount |  |  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Amount |
Favorable/unfavorable lease contracts, net |  | $ | (2,866 | ) |  | $ | 212 |  |  | $ | (2,654 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |
Tradenames (indefinite lived) |  | $ | 178,200 |  |  |  | N/A |  |  |  | N/A |  |  | $ | 79,000 |  |  |  | N/A |  |  |  | N/A |
The following table summarizes the estimated amortization of our net unfavorable lease contracts as of October 30, 2022:
Remainder of 2022 |  | $ | 159 |
2023 |  | $ | 636 |
2024 |  | $ | 636 |
2025 |  | $ | 636 |
2026 |  | $ | 636 |
Thereafter |  | $ | 49 |

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