v3.21.1

Goodwill and Intangible Assets | 12 Months Ended
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Jan. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | NOTE 6—GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill and definite-lived intangible assets arose primarily from the acquisition of Simply Mac on September 25, 2019. The intangible assets are comprised of the Simply Mac tradename, that is being amortized over 15 years, and the simplyinc.com domain name, that is being amortized over 5 years. The carrying value of the intangible assets consisted of the following as of the dates presented (in thousands):
|  | January 30, 2021 |  |  | February 1, 2020 |
Simply Mac Tradename |  | $ | 2,092 |  |  | $ | 2,092 |
SimplyInc Domain Name |  |  | 10 |  |  |  | — |
Subtotal |  |  | 2,102 |  |  |  | 2,092 |
Less accumulated amortization |  |  | (189 | ) |  |  | (48 | )
Total |  | $ | 1,913 |  |  | $ | 2,044 |
Amortization expense of intangible assets for the fiscal years ended January 30, 2021 and December 31, 2019 was $141,000 and $37,000, respectively. Amortization expense for the transition period from January 1, 2020 to February 1, 2020 was $11,000. The carrying amount of goodwill at January 30, 2021 and February 1, 2020 amounted to $699,000. The Company performs an impairment test of goodwill on an annual basis during the fourth quarter, or when circumstances indicate that the carrying value of goodwill might be impaired. Due to the various impacts of COVID-19 to the Company’s business during the fiscal year ended January 30, 2021, including the temporary closure and limited operating hours of the Company’s stores beginning in late March 2020, the Company determined triggering events had occurred for certain of the Company’s long-lived asset groups that required an interim impairment assessment during the period. This analysis did not result in impairment charges related to long-lived assets and operating lease right of use assets.

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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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