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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Jan. 31, 2025
GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS | 5. GOODWILL AND INTANGIBLE ASSETS Goodwill as of January 31, 2025 and 2024, and changes in goodwill during the fiscal years then ended, were as follows (in $000s):
|  | USA Operations |  |  | Europe |  |  | Other Foreign |  |  | Total |
Balance at January 31, 2023 |  | $ | 871 |  |  | $ | 7,602 |  |  | $ | - |  |  | $ | 8,473 |
Measurement period adjustment |  |  | - |  |  |  | 1,447 |  |  |  | - |  |  |  | 1,447 |
Acquisitions |  |  | - |  |  |  | - |  |  |  | 3,749 |  |  |  | 3,749 |
Impairment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Currency translation |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance at January 31, 2024 |  | $ | 871 |  |  | $ | 9,049 |  |  | $ | 3,749 |  |  | $ | 13,669 |
Measurement period adjustment |  |  | - |  |  |  | - |  |  |  | (691 | ) |  |  | (691 | )
Acquisitions |  |  | 4,956 |  |  |  | 8,969 |  |  |  | - |  |  |  | 13,925 |
Impairment |  |  | - |  |  |  | (7,512 | ) |  |  | (3,026 | ) |  |  | (10,538 | )
Currency translation |  |  | - |  |  |  | (93 | ) |  |  | (32 | ) |  |  | (125 | )
Balance at January 31, 2025 |  | $ | 5,827 |  |  | $ | 10,413 |  |  | $ | - |  |  | $ | 16,240 |
The Company performed valuations of the Pacific and Eagle reporting units using market value and discounted cash flow methodologies. Pacific’s forecast was impac ted b y planned investments to improve future profitability, but the profitability has not improved as much as expected. Eagle has variability in their revenue as they primarily sell through tenders which impacte d their financial outlook. Given the results of the quantitative assessment, the Company determined that the goodwill of the Pacific reporting unit was impaired and the goodwill of the Eagle reporting unit was partially impaired. As a result, the Company recognized a goodwill impairment charge of $3.0 million representing the entire amount of goodwill related to the Pacific reporting unit in the Other Foreign geographic segment and recognized a goodwill impairment charge of $7.5 million representing 83% of goodwill related to the Eagle reporting unit in the Europe geographic segment for the year ended January 31, 2025. 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 FY23 Eagle acquisition, with a corresponding increase to goodwill. Intangible assets as of January 31, 2025 and 2024, and changes in intangible assets during the fiscal years then ended, were as follows (in $000s):
|  | 2025 |  |  | 2024 |
Balance at beginning of year |  | $ | 6,830 |  |  | $ | 6,042 |
Acquisitions |  |  | 19,319 |  |  |  | 1,211 |
Measurement period adjustments |  |  | 1,093 |  |  |  | - |
Amortization |  |  | (997 | ) |  |  | (423 | )
Currency translation |  |  | (742 | ) |  |  | - |
Balance at end of year |  | $ | 25,503 |  |  | $ | 6,830 |
|  |  |  |  | January 31, 2025 |  |  |  |  |  | January 31, 2024 |  |  |  |
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 |  |  | 20 |  |  | $ | 20,543 |  |  | $ | (1,655 | ) |  | $ | 18,888 |  |  | $ | 3,558 |  |  | $ | (267 | ) |  | $ | 3,291 |
Trade names and trademarks |  |  | 15 |  |  |  | 5,079 |  |  |  | (568 | ) |  |  | 4,511 |  |  |  | 1,773 |  |  |  | (109 | ) |  |  | 1,664 |
Technological know-how |  |  | 15 |  |  |  | 2,447 |  |  |  | (343 | ) |  |  | 2,104 |  |  |  | 1,989 |  |  |  | (114 | ) |  |  | 1,875 |
Total |  |  |  |  |  | $ | 28,069 |  |  | $ | (2,566 | ) |  | $ | 25,503 |  |  | $ | 7,320 |  |  | $ | (490 | ) |  | $ | 6,830 |
Amortization expense was $1.0 million and $0.4 million for the fiscal years ended January 31, 2025 and 2024, respectively. Intangible asset amortization expense over the next five years is expected to be approximately $1.9 million per year.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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