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ACQUISITIONS (Tables)
 12 Months Ended
Aug. 03, 2019
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the consideration, preliminary fair value of assets acquired and liabilities assumed, and the resulting preliminary goodwill. As of August 3, 2019, the Company is continuing its assessment of fair values of assets acquired and liabilities assumed. There can be no assurance that such final assessments will not result in material changes from the preliminary purchase price allocations, and such changes may result in increases or decreases to the goodwill impairment charge recorded in fiscal 2019 due to changes in the opening balance sheet value of goodwill. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the acquisition date), as the Company finalizes the valuations of certain tangible and intangible assets acquired, and liabilities assumed. As of August 3, 2019, the primary areas of the purchase price allocation that are not yet finalized relate to current and deferred income taxes and certain discontinued operations real and personal property. Any potential fair value changes to these areas, would be assessed to determine whether identifiable intangible assets or the allocation of goodwill between reporting units should also be updated.
(in thousands)
 
Preliminary Acquisition Date Fair Values as of August 3, 2019
Consideration:
 
 
Outstanding shares
 
$
1,258,450

Outstanding debt, excluding acquired senior notes
 
1,046,170

Equity-based awards
 
18,411

Total consideration
 
$
2,323,031

 
 
 
Preliminary fair value of assets acquired and liabilities assumed:
 
 
Cash and cash equivalents
 
$
25,102

Accounts receivable
 
552,381

Inventories
 
1,159,642

Prepaid expenses and other current assets
 
108,830

Current assets of discontinued operations
 
196,848

Property, plant and equipment
 
1,210,416

Goodwill
 
374,757

Intangible assets
 
918,103

Other assets
 
75,965

Long-term assets of discontinued operations
 
429,304

Accounts payable
 
(972,888
)
Current portion of long-term debt and capital lease obligations
 
(579,565
)
Other current liabilities
 
(331,693
)
Current liabilities of discontinued operations
 
(148,763
)
Long-term debt
 
(34,355
)
Long-term capital lease obligations
 
(103,289
)
Pension and other postretirement benefit obligations
 
(234,324
)
Deferred income taxes
 
(20,131
)
Other long-term liabilities
 
(303,544
)
Long-term liabilities of discontinued operations
 
(1,398
)
Noncontrolling interests
 
1,633

Total consideration
 
2,323,031

Less: Cash and cash equivalents(1)
 
(30,596
)
Total consideration, net of cash and cash equivalents acquired
 
$
2,292,435


(1)
Includes cash and cash equivalents acquired attributable to continuing operations and discontinued operations.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The following table summarizes the identifiable intangible assets and liabilities recorded based on preliminary valuations. The identifiable intangible assets are expected to be amortized on a straight-line basis over the estimated useful lives indicated. The preliminary fair value of identifiable intangible assets acquired was determined using income approaches. Significant assumptions utilized in the income approach were based on Company-specific information and projections, which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance.
 
 
 
 
Preliminary Acquisition Date Fair Values as of August 3, 2019
(in thousands)
 
Estimated Useful Life
 
Continuing Operations
 
Discontinued Operations
Customer relationship assets
 
10-17 years
 
$
810,000

 
$
—

Favorable operating leases
 
1-19 years
 
21,629

 
—

Leases in place
 
1-8 years
 
10,474

 
—

Tradenames
 
2-9 years
 
66,000

 
17,000

Pharmacy prescription files
 
5-7 years
 
—

 
45,900

Non-compete agreement
 
2 years
 
10,000

 
—

Unfavorable operating leases
 
1-12 years
 
(21,754
)
 
—

    Total
 
 
 
$
896,349

 
$
62,900
Business Acquisition, Pro Forma Information
The following table presents unaudited supplemental pro forma consolidated Net sales and Net income (loss) from continuing operations based on the Company’s historical reporting periods as if the acquisition of Supervalu had occurred as of July 30, 2017:
(in thousands, except per share data)
 
August 3, 2019(1)
(53 weeks)
 
July 28, 2018(2)
(52 weeks)
Net sales
 
$
24,503,882

 
$
24,184,056

Net (loss) income from continuing operations
 
$
(287,001
)
 
$
13,201

Basic net (loss) income from continuing operations per share
 
$
(5.60
)
 
$
0.26

Diluted net (loss) income from continuing operations per share
 
$
(5.60
)
 
$
0.26

(1)
Includes 12 weeks of pro forma Supervalu results for the period ended September 8, 2018.
(2)
Includes 52 weeks of pro forma Supervalu results for the period ended July 28, 2018, including 19 weeks of pro forma Associated Grocers of Florida, Inc. results, which was acquired by Supervalu on December 8, 2017.