Dicks goodwill, indefinite-lived and other finite-lived intangible assets are reviewed for impairment on an annual basis, or

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Dick’s goodwill, indefinite-lived and other finite-lived intangible assets are reviewed for impairment on an annual basis, or when a situation arises that a decline in value may have happened (SEC, 2021). The company’s goodwill impairment test compares the fair value of each reporting unit to it carrying value and determines the fair value of its reporting units using a combination of an income approach and a market approach (SEC, 2021). In fiscal 2020, the company’s carrying amount of goodwill is reported as $245,857 (in thousands) and $245,857 in 2019. There were no recorded impairments in fiscal 2019 and fiscal 2020 as of January 30, 2021. The company did not disclose enough information about its goodwill for users to understand the origin and amount reported as it is being reported as a carryover. Goodwill is the portion of the purchase price that is more than the sum of the net fair value of the assets purchased in the acquisition and the liabilities assumed in the process (Hargrave, 2022).

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