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CLOUD COMPUTING HOSTING ARRANGEMENT | 12 Months Ended
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Jan. 29, 2023
Disclosure Text Block Supplement [Abstract] |
Other Assets Disclosure [Text Block] | NOTE 9 – CLOUD COMPUTING HOSTING ARRANGEMENT We are in the process of implementing a common Enterprise Resource Planning (ERP) system across all divisions. The ERP system went live at Sunset West in December 2022 and is expected to go-live in our legacy Hooker divisions in fiscal 2024, with the Home Meridian segment following afterwards. Based on the provisions of ASU 2018-15, Intangibles — Goodwill and Other — Internal-Use Software, we capitalize implementation costs associated with hosting arrangements that are service contracts. These costs are recorded on “Other noncurrent assets” line of our consolidated balance sheets. Amortization expense commenced as the system went live at Sunset West in the fourth quarter of fiscal 2023. In addition, we recorded capitalized interest of $84,000 as we entered into new term loans in July 2022. Implementation costs are amortized over ten years on a straight-line basis. The capitalized implementation costs at January 29, 2023 and January 30, 2022 were as follows
|  | Capitalized Implementation Costs |  |  | Capitalized interest expenses |
Balance at January 30, 2022 |  | $ | 3,228 |  |  | $ | - |
Costs capitalized during the period |  |  | 5,382 |  |  |  | 84 |
Accumulated amortization |  |  | (12 | ) |  |  | (0 | )
Balance at January 29, 2023 |  | $ | 8,598 |  |  | $ | 84 |

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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