Intangible Assets

6 Months Ended

Aug. 03, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 6 – Intangible Assets

Intangible assets are as follows:


	August 3, 2024									January 31, 2024
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Currency Translation Adjustment		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Currency Translation Adjustment		Net Carrying Amount
RITEC:
Customer Contract Relationships	$	2,830	$	(1,722	)	$	—	$	1,108	$	2,830	$	(1,689	)	$	—	$	1,141
TrojanLabel:
Distributor Relations	937			(728	)		26		235	937			(686	)		30		281
Honeywell:
Customer Contract Relationships		27,773		(13,228	)		—		14,545		27,773		(12,795	)		—		14,978
Astro Machine:
Customer Contract Relationships		3,060		(1,224	)		—		1,836		3,060		(918	)		—		2,142
Trademarks	420			(168	)		—		252	420			(126	)		—		294
MTEX:
Customer Contract Relationships		8,786		(219	)		49		8,616		—		—			—		—
Internally Developed Software		282		(12	)		2		272
Trademarks		488		(40	)		2		450		—		—			—		—
Intangible Assets, net	$	44,576	$	(17,341	)	$	79	$	27,314	$	35,020	$	(16,214	)	$	30	$	18,836

There were no impairments to intangible assets during the six months ended August 3, 2024 and July 29, 2023.

With respect to the acquired intangible assets included in the table above, amortization expense of $0.7 million and $0.6 million has been included in the condensed consolidated statements of income (loss) for the three months ended August 3, 2024, and July 29, 2023, respectively. Amortization expense of $1.1 million and $1.2 million related to the above-acquired intangible assets has been included in the accompanying condensed consolidated statements of income (loss) for the six months ended August 3, 2024 and July 29, 2023, respectively.

Estimated amortization expense for the next five fiscal years is as follows:


(In thousands)	Remaining 2025		2026		2027		2028		2029
Estimated amortization expense	$	1,404	$	2,808	$	2,808	$	2,808	$	2,245