AMERICAN EAGLE OUTFITTERS INC
For the period ended Feb 1, 2025. Filed Mar 20, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 20, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Goodwill and Intangible Assets, Net
- Goodwill and Intangible Assets, Net
Goodwill and definite-lived intangible assets, net consist of the following:
| Fiscal Years Ending | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| February 1, 2025 · February 3, 2024 | ||||||||||||||
| (In thousands) · American Eagle · Aerie · Corporate and Other (3) · Total · American Eagle · Aerie · Corporate and Other (3) · Total | ||||||||||||||
| Goodwill, beginning balance(1) | $114,703 | $110,600 | $ | - | $225,303 | $114,747 | $110,600 | $39,598 | $264,945 | |||||
| Impairment(2) | — | — | — | — | — | — | (39,598) | (39,598) | ||||||
| Foreign currency fluctuation | (224) | (224) | (44) | — | — | (44) | ||||||||
| Goodwill, ending balance | $114,479 | $110,600 | $ | - | $225,079 | $114,703 | $110,600 | $ | - | $225,303 | ||||
(1)
Beginning balances include accumulated impairment of $43.8 million and $4.2 million as of February 1, 2025 and February 3, 2024, respectively.
(2)
Goodwill for the Quiet Platforms reporting unit was fully impaired during Fiscal 2023. Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information.
(3)
Corporate and Other includes goodwill allocated to the Quiet Platforms reporting unit, which has been identified as a separate operating segment, but is not material to disclose as a separate reportable segment.
| Fiscal Years Ending | ||
|---|---|---|
| (In thousands) | February 1, 2025 | February 3, 2024 |
| Intangible assets, net, beginning balance | $46,109 | $94,536 |
| Additions | 772 | 826 |
| Impairment(1) | — | (40,533) |
| Amortization | (4,432) | (8,720) |
| Intangible assets, net (2) | $42,449 | $46,109 |
(1)
Impairment included $31.2 million of customer relationships and $9.3 million of trade names related to Quiet Platforms recorded in Fiscal 2023. Refer to Note 15, Impairment, Restructuring and Other Charges, to the Consolidated Financial Statements for additional information
(2)
The ending balance includes accumulated amortization of $104.9 million and $100.9 million as of February 1, 2025 and February 3, 2024, respectively.
Amortization expense is as follows:
| Fiscal Years Ending | |||
|---|---|---|---|
| (In thousands) | February 1, 2025 | February 3, 2024 | January 28, 2023 |
| Amortization expense | $4,432 | $8,748 | $9,162 |
The table below summarizes the estimated future amortization expense for intangible assets existing as of February 1, 2025 for the next five fiscal years:
| Future | |
|---|---|
| (In thousands) | Amortization |
| 2025 | $4,142 |
| 2026 | $4,056 |
| 2027 | $3,958 |
| 2028 | $3,876 |
| 2029 | $3,702 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.