Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v3.20.1
Goodwill and Other Intangible Assets
12 Months Ended
Feb. 01, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The following summarizes the Company’s goodwill and other intangible assets:
 
 
February 1,
2020
 
February 2,
2019
 
(millions)
Non-amortizing intangible assets
 
 
 
Goodwill
$
9,290

 
$
9,290

Accumulated impairment losses
(5,382
)
 
(5,382
)
 
3,908

 
3,908

Tradenames
403

 
403

 
$
4,311

 
$
4,311

Amortizing intangible assets
 
 
 
Favorable leases and other contractual assets (a)
$
5

 
$
136

Tradenames
43

 
43

 
48

 
179

Accumulated amortization
 
 
 
Favorable leases and other contractual assets (a)
(1
)
 
(95
)
Tradenames
(11
)
 
(9
)
 
(12
)
 
(104
)
 
$
36

 
$
75

 
 
 
 
Capitalized software
 
 
 
Gross balance
$
1,262

 
$
1,316

Accumulated amortization
(620
)
 
(646
)
 
$
642

 
$
670


(a) As a result of the adoption of ASU 2016-02 on February 3, 2019, favorable leases were reclassed to the right of use assets on the Consolidated Balance Sheet. See Note 4 for information on the right of use assets as of February 1, 2020.
Finite lived tradenames are being amortized over their respective useful lives of 20 years. Favorable lease intangible assets are being amortized over their respective lease terms.
Other contractual assets and tradenames amortization expense amounted to $3 million for 2019, while favorable leases, other contractual assets, and tradenames amortization expense amounted to $10 million for 2018 and 2017. Capitalized software amortization expense amounted to $285 million for 2019, $296 million for 2018 and $301 million for 2017.
Future estimated amortization expense for assets, excluding in-process capitalized software of $66 million not yet placed in service as of February 1, 2020, is shown below:
 
 
Amortizing intangible assets
 
Capitalized Software
 
(millions)
Fiscal year
 
 
 
2020
$
2

 
$
253

2021
2

 
185

2022
2

 
103

2023
2

 
34

2024
2

 
1