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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Jan. 31, 2024
GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS | 5. GOODWILL AND INTANGIBLE ASSETS Changes in goodwill during the fiscal years ended January 31, 2024 and 2023, were as follows (in $000s):
|  | 2024 |  |  | 2023 |
Balance at February 1 |  | $ | 8,473 |  |  | $ | 871 |
Measurement period adjustment |  |  | 1,447 |  |  | ---- |
Acquisitions |  |  | 3,749 |  |  |  | 7,602 |
Balance at January 31 |  | $ | 13,669 |  |  | $ | 8,473 |
During FY24, a measurement period adjustment was recorded to recognize deferred tax liabilities of $1.4 million associated with the finite-lived intangibles acquired in the Eagle acquisition, with a corresponding increase to goodwill. Changes in intangible assets during the fiscal years ended January 31, 2024 and 2023, were as follows (in $000s):
|  | 2024 |  |  | 2023 |
Balance at February 1 |  | $ | 6,042 |  |  | $ | ---- |
Acquisitions |  |  | 1,211 |  |  |  | 6,109 |
Amortization |  |  | (423 | ) |  |  | (67 | )
Balance at January 31 |  | $ | 6,830 |  |  | $ | 6,042 |
|  |  |  |  | January 31, 2024 |  |  | January 31, 2023 |
Intangible Assets (in $000s) |  | Weighted Average Life in Years |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | 15 |  |  | $ | 3,558 |  |  | $ | (267 | ) |  | $ | 3,291 |  |  | $ | 3,283 |  |  | $ | (37 | ) |  | $ | 3,246 |
Trade names and trademarks |  | 15 |  |  |  | 1,773 |  |  |  | (109 | ) |  |  | 1,664 |  |  |  | 1,333 |  |  |  | (15 | ) |  |  | 1,318 |
Technological know-how |  | 15 |  |  |  | 1,989 |  |  |  | (114 | ) |  |  | 1,875 |  |  |  | 1,493 |  |  |  | (15 | ) |  |  | 1,478 |
Total |  |  |  |  |  | $ | 7,320 |  |  | $ | (490 | ) |  | $ | 6,830 |  |  | $ | 6,109 |  |  | $ | (67 | ) |  | $ | 6,042 |
Intangible asset amortization expense over the next five years is expected to be approximately $0.5 million per year.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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