Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v2.4.0.6
Goodwill and Other Intangible Assets
12 Months Ended
Jan. 28, 2012
Goodwill and Other Intangible Assets [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The following summarizes the Company’s goodwill and other intangible assets:
 
 
January 28,
2012
 
January 29,
2011
 
(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
$
234

 
$
250

Customer relationships
188

 
188

 
422

 
438

Accumulated amortization
 
 
 
Favorable leases
(117
)
 
(113
)
Customer relationships
(121
)
 
(102
)
 
(238
)
 
(215
)
 
$
184

 
$
223



Intangible amortization expense amounted to $39 million for 2011, $41 million for 2010 and $41 million for 2009.
Future estimated intangible amortization expense is shown below:
 
 
(millions)
Fiscal year:
 
2012
$
37

2013
34

2014
31

2015
21

2016
8



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.