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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Bassett Furniture Industries's intangible assets for the quarter that ended in Feb. 2024 was $16.1 Mil.
The historical data trend for Bassett Furniture Industries's Intangible Assets can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Bassett Furniture Industries Annual Data | |||||||||||||||||||||
Trend | Nov14 | Nov15 | Nov16 | Nov17 | Nov18 | Nov19 | Nov20 | Nov21 | Nov22 | Nov23 | |||||||||||
Intangible Assets | Get a 7-Day Free Trial | 26.18 | 23.83 | 23.45 | 21.73 | 16.07 |
Bassett Furniture Industries Quarterly Data | ||||||||||||||||||||
May19 | Aug19 | Nov19 | Feb20 | May20 | Aug20 | Nov20 | Feb21 | May21 | Aug21 | Nov21 | Feb22 | May22 | Aug22 | Nov22 | Feb23 | May23 | Aug23 | Nov23 | Feb24 | |
Intangible Assets | Get a 7-Day Free Trial | 21.60 | 21.53 | 21.55 | 16.07 | 16.07 |
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.
Bassett Furniture Industries (NAS:BSET) Intangible Assets Explanation
If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.
The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.
Some intangibles are amortized. Amortization is the depreciation of intangible assets.
Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.
Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.
If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.
Intangibles acquired are on balance sheet at fair value.
Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.
One of the reasons competitive advantage power can remain hidden for so long.
Be Aware
Companies may change the way intangible assets are amortized, and this will affect their reported earnings.
Thank you for viewing the detailed overview of Bassett Furniture Industries's Intangible Assets provided by GuruFocus.com. Please click on the following links to see related term pages.
Spilman Robert H Jr | director, officer: Pres & Chief Executive Officer | C/O BASSETT FURNITURE INDUSTRIES INC, PO BOX 626, BASSETT VA 24055 |
John Michael Daniel | officer: V P, Chief Accounting Officer | P O BOX 626, 3525 FAIRYSTONE PARK HWY, BASSETT VA 24055 |
Warden William C Jr | director | PO BOX 2328, HICKORY NC 28603-2328 |
David C Baker | officer: SVP, Corporate Retail | 1012 SHERATON, COURT, MARTINSVILLE VA 24112 |
Emma S. Battle | director | 101 NORTH CHERRY STREET, SUITE 501, WINSTON SALEM NC 27101 |
Virginia W. Hamlet | director | P.O. BOX 626, BASSETT VA 24055 |
Wampler William C Jr | director | 510 CUMBERLAND STREET, BRISTOL VA 24201-4387 |
Bassett John E Iii | officer: vice President Global Sourcing | C/O BASSETT FURNITURE INDUSTRIES INC, PO BOX 626, BASSETT VA 24055 |
John R Belk | director | BELK INC, 2801 WEST TYVOLA ROAD, CHARLOTTE NC 28217-4500 |
Stefanie Jane Lucas | officer: SVP, Chief Merchandising Offic | P.O. BOX 626, BASSETT VA 24055 |
Kara Ann Kelchner-strong | officer: SVP, Customer Experience Offic | P.O. BOX 626, BASSETT VA 24055 |
Mark S Jordan | officer: Vice President Upholstery | BASSETT FURNITURE INDUSTRIES INC, PO BOX 626, BASSETT VA 24055 |
Jay R Hervey | officer: Vice Pres Sec & Gen Counsel | |
Bruce Cohenour | officer: SR VP/SALES & MERCHANDISING | HOOKER FURNITURE CORPORATION, 440 EAST COMMONWEALTH BLVD, MARTINSVILLE VA 24112 |
Kristina K Cashman | director |
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