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Intangible Assets | 6 Months Ended
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Jul. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets Disclosure [Text Block] | 8. Intangible Assets Our intangible assets with indefinite lives consist of: goodwill related to the Shenandoah, Sunset West and BOBO Intriguing Objects acquisitions; and trademarks and tradenames related to the acquisitions of Bradington-Young, Home Meridian and BOBO Intriguing Objects. During the fiscal 2024 second quarter, we recorded $500,000 trademarks with indefinite lives and $124,000 goodwill as a result of the BOBO acquisition. During the fiscal 2024 first quarter, we announced the rebranding of the Sam Moore product line to “HF Custom”. As a result, we reassessed the characteristics of the Sam Moore trade name and the roll-out process, and determined it qualified for amortization; consequently, we began amortizing the Sam Moore trade name over a 24-month period using the straight-line method beginning mid-April 2023. Our intangible assets with definite lives are recorded in our Home Meridian and Domestic Upholstery segments. Details of our intangible assets are as follows:
|  | July 30, 2023 |  |  | January 29, 2023 |
|  | Gross carrying amount |  |  | Accumulated Amortization |  |  | Gross carrying amount |  |  | Accumulated Amortization |
Intangible assets with indefinite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic Upholstery - Shenandoah * |  |  | 490 |  |  |  | - |  |  |  | 490 |  |  |  | - |
Domestic Upholstery - Sunset West |  |  | 14,462 |  |  |  | - |  |  |  | 14,462 |  |  |  | - |
All Other - BOBO Intriguing Objects |  |  | 124 |  |  |  | - |  |  |  | - |  |  |  | - |
Goodwill |  |  | 15,076 |  |  |  | - |  |  |  | 14,952 |  |  |  | - |
Trademarks and Trade names * |  |  | 8,011 |  |  |  | - |  |  |  | 7,907 |  |  |  | - |
Intangible assets with definite lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer Relations |  |  | 38,001 |  |  |  | (17,301 | ) |  |  | 38,001 |  |  |  | (15,618 | )
Trademarks and Trade names |  |  | 2,334 |  |  |  | (574 | ) |  |  | 1,938 |  |  |  | (449 | )
Intangible assets, net |  |  | 48,346 |  |  |  | (17,875 | ) |  |  | 47,846 |  |  |  | (16,067 | )
*: The amounts are net of impairment charges of $16.4 million related to Shenandoah goodwill and $4.8 million related to certain Home Meridian segment's trade names, which were recorded in fiscal 2021. Amortization expenses for intangible assets with definite lives were $924,000 and $1.8 million for the second quarter and first half of fiscal 2024, respectively. Amortization expenses for intangible assets with definite lives were $878,000 and $1.8 million for the second quarter and first half of fiscal 2023, respectively. For the remainder of fiscal 2024, amortization expense is expected to be approximately $1.8 million.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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