EXPRESS, INC. - 10-K filing on 2015-03-27

Intangible Assets

12 Months Ended

Jan. 31, 2015

The following table provides the significant components of intangible assets:



	January 31, 2015
	Cost		Accumulated Amortization		Ending Net Balance
	(in thousands)
Tradenames	$	196,144	$	—	$	196,144
Internet domain names/trademarks	1,418		—		1,418
Net favorable lease obligations/other	21,175		19,906		1,269
	$	218,737	$	19,906	$	198,831



	February 1, 2014
	Cost		Accumulated Amortization		Ending Net Balance
	(in thousands)
Tradenames	$	196,144	$	—	$	196,144
Internet domain names/trademarks	1,668		—		1,668
Net favorable lease obligations/other	20,175		19,106		1,069
	$	217,987	$	19,106	$	198,881

The Company's tradenames, Internet domain names, and trademarks have indefinite lives. Net favorable lease obligations and other intangibles are amortized over a period between five and ten years and are included in other assets on the Consolidated Balance Sheets. The net favorable lease assets were fully amortized as of January 31, 2015. Amortization expense totaled $0.8 million, $1.3 million, and $1.5 million during 2014, 2013, and 2012, respectively.

Future amortization expense is expected to approximate the following (in thousands):



2015	$	149
2016	149
2017	149
2018	149
2019	149
Thereafter	524
Total	$	1,269