Note 4. Goodwill and Other Intangible Assets
Goodwill and other intangible assets consist of the following and are included in other long-term assets in the Consolidated Balance Sheets:
|
| | | | | | | | |
($ in millions) | | February 1,
2014 | | February 2,
2013 |
Goodwill | | $ | 180 |
| | $ | 184 |
|
Trade names | | $ | 92 |
| | $ | 92 |
|
Other indefinite-lived intangible assets | | $ | 6 |
| | $ | 6 |
|
Intangible assets subject to amortization | | $ | 18 |
| | $ | 18 |
|
Less: Accumulated amortization | | (17 | ) | | (15 | ) |
Intangible assets subject to amortization, net | | $ | 1 |
| | $ | 3 |
|
Goodwill
As discussed in Note 3 of Notes to Consolidated Financial Statements, the carrying amount of goodwill related to the acquisition of Intermix decreased by $4 million from $85 million to $81 million due to an adjustment of the initial fair values. During fiscal 2013, 2012, and 2011, there were no changes in the $99 million carrying amount of goodwill related to Athleta.
During the fourth quarter of fiscal 2013, we completed our annual impairment test of goodwill and we did not recognize any impairment charges.
Other Intangible Assets
Trade names consist of $54 million and $38 million related to Athleta and Intermix, respectively, as of February 1, 2014. During the fourth quarter of fiscal 2013, we completed our annual impairment test of trade names and we did not recognize any impairment charges.
The intangible assets subject to amortization consist of customer relationships and non-compete agreements related to Athleta and Intermix of $15 million and $3 million, respectively. Athleta's intangible assets subject to amortization were fully amortized in fiscal 2012. Intermix's non-compete agreements were fully amortized in fiscal 2013 and its customer relationships are being amortized over a period of four years.
There was no material amortization expense for intangible assets subject to amortization recorded in operating expenses in the Consolidated Statements of Income for fiscal 2013, 2012, and 2011.
