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Intangible Assets

3 Months Ended

May 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

9. Intangible Assets

During the fiscal 2023 first quarter, we recorded both non-amortizable and amortizable intangible assets as a result of the Acquisition. Details of these new intangible assets, as well as previously recorded intangible assets assigned to our Domestic Upholstery and Home Meridian segments, are shown in the following two tables:

		January 30, 2022				May 1, 2022
Non-amortizable Intangible Assets	Segment	Beginning Balance		Acquisition		Net Book Value
Goodwill - Shenandoah Furniture	Domestic Upholstery	$	490	$	-	$	490
Goodwill - Sunset West	Domestic Upholstery		-		15,026		15,026
Total Goodwill		$	490	$	15,026	$	15,516

Trademarks and trade names - Home Meridian	Home Meridian		6,650		-		6,650
Trademarks and trade names - Bradington-Young	Domestic Upholstery		861		-		861
Trademarks and trade names - Sam Moore	Domestic Upholstery		396		-		396
Total Trademarks and trade names		$	7,907	$	-	$	7,907

Total non-amortizable assets		$	8,397	$	15,026	$	23,423

Our amortizable intangible assets are recorded in our Home Meridian and Domestic Upholstery segments. The carrying amounts and changes therein of those amortizable intangible assets were as follows:

	Amortizable Intangible Assets
	Customer
	Relationships			Trademarks			Totals

Balance at January 30, 2022	$	15,348		$	598		$	15,946
Acquisition		10,401			1,050			11,451
Amortization		(841	)		(37	)		(878	)
Balance at May 1, 2022	$	24,908		$	1,611		$	26,519

For the remainder of fiscal 2023, amortization expense is expected to be approximately $2.6 million.