3. Goodwill and Intangible Assets Goodwill Goodwill balances by segment were as follows ($ in millions): | | | | | | | | | | | | | | | | | | | | | | | | | May 3, 2025 | | February 1, 2025 | | May 4, 2024 | | Gross Carrying Amount | | Cumulative Impairment | | Gross Carrying Amount | | Cumulative Impairment | | Gross Carrying Amount | | Cumulative Impairment | Domestic | $ | 1,450 | | | $ | (542) | | | $ | 1,450 | | | $ | (542) | | | $ | 1,450 | | | $ | (67) | | International | | 608 | | | | (608) | | | | 608 | | | | (608) | | | | 608 | | | | (608) | | Total | $ | 2,058 | | | $ | (1,150) | | | $ | 2,058 | | | $ | (1,150) | | | $ | 2,058 | | | $ | (675) | |
In fiscal 2025, we recorded a goodwill impairment of $475 million within the Domestic segment for the Best Buy Health reporting unit. The restructuring activity that commenced in the first quarter of fiscal 2026 was a triggering event to evaluate the Best Buy Health reporting unit for impairment. No further goodwill impairment was identified. Refer to Note 2, Restructuring, for additional information.
Definite-Lived Intangible Assets We have definite-lived intangible assets recorded within Other assets on our Condensed Consolidated Balance Sheets as follows ($ in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | May 3, 2025 | | February 1, 2025 | | May 4, 2024 | | | | | | Gross Carrying Amount(1) | | Accumulated Amortization(1) | | Gross Carrying Amount | | Accumulated Amortization | | Gross Carrying Amount | | Accumulated Amortization | | Weighted-Average Useful Life Remaining as of May 3, 2025 (in years) | Customer relationships | $ | 339 | | | $ | 282 | | | $ | 360 | | | $ | 285 | | | $ | 360 | | | $ | 278 | | | | 8.2 | | Tradenames | | 87 | | | | 76 | | | | 92 | | | | 79 | | | | 108 | | | | 72 | | | | 1.4 | | Developed technology | | 56 | | | | 56 | | | | 64 | | | | 61 | | | | 64 | | | | 60 | | | | - | | Total | $ | 482 | | | $ | 414 | | | $ | 516 | | | $ | 425 | | | $ | 532 | | | $ | 410 | | | | 7.1 | |
(1)Gross carrying amount and accumulated amortization as of May 3, 2025, excludes $34 million and $16 million, respectively, of definite-lived intangible assets related to the exit of a component of our Best Buy Health business. See Note 2, Restructuring, for additional information. Amortization expense was as follows ($ in millions): | | | | | | | | | | | | | | Three Months Ended | | Statement of Earnings Location | May 3, 2025 | | May 4, 2024 | Amortization expense | Selling, general and administrative expenses | | | $ | 5 | | | $ | 6 | |
Amortization expense expected to be recognized in future periods is as follows ($ in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortization Expense | Remainder of fiscal 2026 | | | | | | | | | | | | | | | | | | | | | | | | | $ | 11 | | Fiscal 2027 | | | | | | | | | | | | | | | | | | | | | | | | | | 13 | | Fiscal 2028 | | | | | | | | | | | | | | | | | | | | | | | | | | 8 | | Fiscal 2029 | | | | | | | | | | | | | | | | | | | | | | | | | | 7 | | Fiscal 2030 | | | | | | | | | | | | | | | | | | | | | | | | | | 6 | | Fiscal 2031 | | | | | | | | | | | | | | | | | | | | | | | | | | 5 | | Thereafter | | | | | | | | | | | | | | | | | | | | | | | | | | 18 | |
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