ACQUISITIONS (Tables)

9 Months Ended

Oct. 27, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes total preliminary purchase consideration:

in millions
Total cash consideration	$	17,707
Fair value of common stock issued (1)	321
Total preliminary purchase consideration	$	18,028

—————

(1)    In connection with the acquisition, certain members of SRS’s management team concurrently reinvested a portion of their respective after-tax merger consideration proceeds into shares of the Company’s common stock. A portion of such shares of Company common stock are fully vested, and accordingly, the fair value of such shares was recorded as non-cash purchase consideration. A portion of such shares of Company common stock, which replaced legacy SRS stock-based awards, are subject to service-based vesting conditions over a three-year period and become forfeitable if such vesting conditions are not satisfied. Accordingly, a portion of the fair value of these shares was recorded as non-cash purchase consideration, and the remainder will be recorded as post-combination expense over the vesting period. The fair value of these shares, including the amount which will be recorded as post-combination compensation expense, is not material.

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the recorded fair values of the assets acquired and liabilities assumed:

in millions	Preliminary Fair Value
Cash and cash equivalents	$	161
Receivables	1,832
Merchandise inventories	1,988
Property and equipment	789
Goodwill	10,967
Intangible assets	5,780
Other current and non-current assets	744
Total assets acquired	$	22,261
Accounts payable	$	1,791
Other current liabilities	584
Deferred tax liabilities (1)	1,076
Other long-term liabilities	782
Total liabilities assumed	$	4,233

—————

(1)    Primarily resulting from the difference in book and tax basis related to identifiable intangible assets.

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

The preliminary fair values and estimated useful lives of identifiable intangible assets are as follows:

in millions	Weighted Average Useful Life (Years)	Preliminary Fair Value
Customer relationships	20	$	5,400
Trade names	5	380
Total identifiable intangible assets		$	5,780