XML 31 R19.htm IDEA: XBRL DOCUMENT v3.8.0.1
HELD FOR SALE AND DISPOSAL OF BUSINESS
4 Months Ended
May 26, 2018
HELD FOR SALE AND DISPOSAL OF BUSINESS  
HELD FOR SALE AND DISPOSAL OF BUSINESS

10.HELD FOR SALE AND DISPOSAL OF BUSINESS

 

Certain assets and liabilities, primarily those related to the Company’s convenience store business unit, were classified as held for sale in the Consolidated Balance Sheets beginning in the third quarter of 2017.  On April 20, 2018, the Company completed the sale of its convenience store business unit for $2,150.  The Company recognized a net gain on this sale for $1,771, $1,352 net of tax. 

 

The Company used the proceeds from the sale of the convenience store business unit to pay down outstanding commercial paper borrowings and fund an accelerated stock repurchase (“ASR”) program.  The Company entered and funded a $1,200 ASR program on April 20, 2018.  $1,100  of the ASR program settled during the first quarter of 2018 and the Company expects the remaining repurchases under the ASR program to be completed no later than July 6, 2018.