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Goodwill and Other Intangible Assets
9 Months Ended
Nov. 30, 2019
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

10. Goodwill and Other Intangible Assets

There was no goodwill impairment charge for the thirteen and thirty-nine week periods ended November 30, 2019. At November 30, 2019 and March 2, 2019, accumulated impairment losses for the Pharmacy Services segment was $574,712.

The Company’s intangible assets are primarily finite-lived and amortized over their useful lives. Following is a summary of the Company’s finite-lived and indefinite-lived intangible assets as of November 30, 2019 and March 2, 2019.

November 30,2019

March 2, 2019

Remaining

Remaining

Weighted

Weighted

Gross

Average

Gross

Average

Carrying

Accumulated

Amortization

Carrying

Accumulated

Amortization

    

Amount

    

Amortization

    

Net

    

Period

    

Amount

    

Amortization

    

Net

    

Period

Favorable leases and other(a)

$

186,726

$

(163,426)

$

23,300

3

years

$

370,855

$

(318,503)

$

52,352

7

years

Prescription files

 

944,309

 

(858,393)

85,916

 

3

years

 

919,749

 

(827,222)

92,527

 

3

years

Customer relationships(a)

388,000

(222,181)

165,819

12

years

388,000

(193,352)

194,648

13

years

CMS license

57,500

(10,197)

47,303

21

years

57,500

(8,472)

49,028

22

years

Claims adjudication and other developed software

58,985

(37,352)

21,633

3

years

58,985

(31,030)

27,955

4

years

Trademarks

20,100

(8,911)

11,189

6

years

20,100

(7,404)

12,696

7

years

Backlog

11,500

(11,500)

0

years

11,500

(11,500)

0

years

Total finite

$

1,667,120

$

(1,311,960)

355,160

$

1,826,689

$

(1,397,483)

$

429,206

Trademarks

19,500

19,500

Indefinite

19,500

19,500

Indefinite

Total

$

1,686,620

$

(1,311,960)

$

374,660

$

1,846,189

$

(1,397,483)

$

448,706

(a)Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.

Also included in other non-current liabilities as of November 30, 2019 and March 2, 2019 are unfavorable lease intangibles with a net carrying amount of $0 and $14,763, respectively. In connection with the Adoption of ASU 2016-02, Leases (Topic 842), both favorable and unfavorable leases were reclassified into operating lease right-of-use assets.

Amortization expense for these intangible assets and liabilities was $24,920 and $79,176 for the thirteen and thirty-nine week periods ended November 30, 2019, respectively. Amortization expense for these intangible assets and liabilities was $28,768 and $96,668 for the thirteen and thirty-nine week periods ended December 1, 2018, respectively. The anticipated annual amortization expense for these intangible assets and liabilities is 2020—$101,878; 2021—$82,189; 2022—$61,563; 2023—$46,452 and 2024—$32,813.