Goodwill and Intangible Assets
Goodwill increased to $151 million at February 1, 2014 from $59 million at February 2, 2013 due to three 2013 acquisitions. No impairments were recorded in 2013, 2012 or 2011 as a result of the goodwill impairment tests performed.
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Intangible Assets | Leasehold Acquisition Costs | | Other (a) | | Total |
(millions) | February 1,
2014 |
| February 2,
2013 |
| | February 1,
2014 |
| February 2,
2013 |
| | February 1,
2014 |
| February 2,
2013 |
|
Gross asset | $ | 241 |
| $ | 237 |
| | $ | 212 |
| $ | 149 |
| | $ | 453 |
| $ | 386 |
|
Accumulated amortization | (130 | ) | (120 | ) | | (117 | ) | (101 | ) | | (247 | ) | (221 | ) |
Net intangible assets | $ | 111 |
| $ | 117 |
| | $ | 95 |
| $ | 48 |
| | $ | 206 |
| $ | 165 |
|
| |
(a) | Other intangible assets relate primarily to acquired customer lists and trademarks. |
We use the straight-line method to amortize leasehold acquisition costs primarily over 9 to 39 years and other definite-lived intangibles over 3 to 15 years. The weighted average life of leasehold acquisition costs and other intangible assets was 26 years and 7 years, respectively, at February 1, 2014. Amortization expense was $25 million, $22 million, and $24 million in 2013, 2012 and 2011, respectively.
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Estimated Amortization Expense (millions) | 2014 |
| 2015 |
| 2016 |
| 2017 |
| 2018 |
|
Amortization expense | $ | 27 |
| $ | 25 |
| $ | 22 |
| $ | 16 |
| $ | 11 |
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