Business Combinations (Tables) - Fiscal 2017 Business Combinations

12 Months Ended

Feb. 01, 2020

Schedule of allocation of the purchase price

The following table summarizes our allocation of the purchase price for the Fiscal 2017 acquisitions, in the aggregate (in thousands):


	Fiscal 2017 acquisitions
Cash and cash equivalents	$	406
Inventories ⁽¹⁾		3,910
Prepaid expenses and other current assets		595
Property and equipment		682
Intangible assets		5,940
Goodwill		6,642
Accounts payable, accrued expenses and other liabilities		(640)
Purchase price ⁽²⁾	$	17,535

(1)

Includes a step-up of acquired inventory from cost to fair value of $1 million with substantially all of this step-up amount recognized in Fiscal 2017 in cost of goods sold in our consolidated statement of operations with the remaining amount recognized in Fiscal 2018 in cost of goods sold in our consolidated statement of operations.

(2)

In connection with the TBBC acquisition, we entered into a contingent consideration agreement pursuant to which we will be obligated to make cash payments to the sellers of up to $4 million in the aggregate subject to TBBC’s achievement of certain earnings targets over a four year period subsequent to the acquisition. Estimated fair value of the contingent consideration amount as of the acquisition date was less than $1 million.

Schedule of intangible assets allocated in connection with purchase price

Intangible assets allocated in connection with our purchase price allocation consisted of the following (in thousands):


		Fiscal 2017
	Useful life	acquisitions
Finite lived intangible assets acquired:
Trade names and trademarks	20 years	$	4,220
Other intangible assets including reacquired rights, customer relationships and non-compete agreements	3 - 10 years	$	1,720
		$	5,940