Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v2.4.1.9
Goodwill and Other Intangible Assets
12 Months Ended
Jan. 31, 2015
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:
 
 
January 31,
2015
 
February 1,
2014
 
(millions)
Non-amortizing intangible assets
 
 
 
Goodwill
$
9,125

 
$
9,125

Accumulated impairment losses
(5,382
)
 
(5,382
)
 
3,743

 
3,743

Tradenames
414

 
414

 
$
4,157

 
$
4,157

Amortizing intangible assets
 
 
 
Favorable leases
$
177

 
$
188

Customer relationships
188

 
188

 
365

 
376

Accumulated amortization
 
 
 
Favorable leases
(106
)
 
(104
)
Customer relationships
(177
)
 
(159
)
 
(283
)
 
(263
)
 
$
82

 
$
113


Intangible amortization expense amounted to $31 million for 2014, $34 million for 2013 and $37 million for 2012.
Future estimated intangible amortization expense is shown below:
 
 
(millions)
Fiscal year
 
2015
$
21

2016
8

2017
7

2018
7

2019
7



Favorable lease intangible assets are being amortized over their respective lease terms (weighted average life of approximately twelve years) and customer relationship intangible assets are being amortized over their estimated useful lives of ten years.