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Intangible Assets

9 Months Ended

Oct. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

9. Intangible Assets

During the fiscal 2023 nine-month period, we recorded both non-amortizable and amortizable intangible assets because 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				October 30, 2022
Non-amortizable Intangible Assets	Segment	Beginning Balance		Acquisition		Net Book Value
Goodwill - Shenandoah Furniture	Domestic Upholstery	$	490	$	-	$	490
Goodwill - Sunset West	Domestic Upholstery		-		14,462		14,462
Total Goodwill		$	490	$	14,462	$	14,952

Trademarks and trade names - Home Meridian	Home Meridian		6,650		-		6,650
Trademarks and trade names	Domestic Upholstery		1,257		-		1,257
Total Trademarks and trade names		$	7,907	$	-	$	7,907

Total non-amortizable assets		$	8,397	$	14,462	$	22,859

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		(2,523	)		(111	)		(2,634	)
Balance at October 30, 2022	$	23,226		$	1,537		$	24,763

For the remainder of fiscal 2023, amortization expense is expected to be approximately $878,000.