BUSINESS ACQUISITIONS

There were no business acquisitions completed during fiscal year 2018.

Acquisitions completed during fiscal year 2017 included three broadline and two specialty distributors for aggregate cash consideration of approximately $182 million.

Business acquisitions periodically provide for contingent consideration, including earnout payments in the event certain operating results are achieved during a defined post-closing period. During fiscal year 2018, the Company paid approximately $5 million of contingent consideration related to 2017 and 2016 business acquisitions. During fiscal year 2017, the Company paid approximately $8 million of earnout contingent consideration related to 2016 business acquisitions, of which $6 million was included as part of the fair value of the acquisition date assets and liabilities, and is reflected in the Company’s Consolidated Statement of Cash Flows in cash flows from financing activities. As of December 29, 2018, the Company had no material outstanding contingent consideration for business acquisitions.

The 2017 acquisitions, reflected in the Company’s consolidated financial statements commencing from the date of acquisition, did not materially affect the Company’s results of operations or financial position and, therefore, pro forma financial information has not been provided. The 2017 acquisitions were integrated into the Company’s foodservice distribution network and funded primarily with cash from operations.

The Company finalized the purchase accounting for the 2017 acquisitions during fiscal year 2018.

The following table summarizes the purchase price allocations for the 2017 business acquisitions as follows:



	2017
Accounts receivable	$	17
Inventories	25
Other current assets	1
Property and equipment	29
Goodwill	59
Other intangible assets	72
Accounts payable	(8		)
Accrued expenses and other current liabilities	(6		)
Deferred income taxes	(7		)
Cash paid for acquisitions	$	182