XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Note 6 - Impairment of Long-lived Assets | 6 Months Ended
--- | ---
Jul. 31, 2022
Notes to Financial Statements |
Asset Impairment Charges [Text Block] | Note 6 - Impairment of long-lived assets The Company's assessment of long-lived assets, and other identifiable intangibles is based upon factors that market participants would use in accordance with the accounting guidance for the fair value measurement of assets. At July 31, 2022, the Company performed a qualitative analysis assessment to determine if it was more likely than not that the fair values of the Company's long-lived assets exceeded their carrying values. The Company assessed three asset groups as part of this analysis: United States, Canada and Middle East. The qualitative assessment indicated that it was more likely than not that the fair values of the Company's long-lived assets exceeded their carrying values for all three asset groups. Therefore, it was determined that there was no impairment of the Company's long-lived assets for the three and six months ended July 31, 2022 and 2021. During July 2022, severe flooding in the United Arab Emirates negatively impacted the Company's facility in Fujairah. The Company is currently assessing the damage to the facility, equipment, inventory and the impact of time lost due to business interruption. As additional information becomes available, the Company will recognize any impact to the financial statements, including any potential impairment to long-lived assets. The Company expects that any losses will be recovered as a result of its pending insurance claim. T﻿he Company will continue testing for potential impairment at least annually or as otherwise required by applicable accounting standards. Goodwill. The purchase price of an acquired company is allocated between intangible assets and the net tangible assets of the acquired business with the residual of the purchase price recorded as goodwill. All identifiable goodwill as of July 31, 2022 and January 31, 2022 was attributable to the purchase of Perma-Pipe Canada, Ltd., which occurred in 2016.
(In thousands) |  |  | January 31, 2022 |  |  |  | Foreign exchange change effect |  |  |  | July 31, 2022 |
Goodwill |  | $ | 2,342 |  |  | $ | (14 | ) |  | $ | 2,328 |
The Company performs an impairment assessment of goodwill annually as of January 31, or more frequently if triggering events occur, based on the estimated fair value of the related reporting unit or intangible asset. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. At July 31, 2022, the Company elected to perform a qualitative analysis assessment to determine if it was more likely than not that the fair value of the Company's Canadian reporting unit exceeded its carrying value, including goodwill. The qualitative assessment did not identify any triggering events that would indicate potential impairment of the Company's Canadian reporting unit. Therefore, it was determined that the fair value of the reporting unit exceeded its carrying value, resulting in no impairment for the three and six months ended July 31, 2022 and 2021. The Company will continue testing for potential impairment at least annually or as otherwise required by applicable accounting standards.

X
- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
Name: | us-gaap_AssetImpairmentChargesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration