Restructuring and Asset Impairment

3 Months Ended

Jun. 22, 2013

Restructuring And Related Activities [Abstract]

Note 3

Restructuring and Asset Impairment

Restructuring and asset impairment charges for the first quarter of fiscal 2014 included in the Condensed Consolidated Statements of Earnings consisted of an asset impairment charge of approximately $1.0 million for an underperforming store and fuel center in the Retail segment.

The following table provides the activity of restructuring costs for the 12 weeks ended June 22, 2013. Accrued restructuring costs recorded in the Condensed Consolidated Balance Sheets are included in “Other accrued expenses” in Current liabilities and “Other long-term liabilities” in Long-term liabilities based on when the obligations are expected to be paid.


(In thousands)
Balance at March 30, 2013	$	7,975
Changes in estimates		(206	)(a)
Accretion expense		70
Payments		(443	)

Balance at June 22, 2013	$	7,396

(a)	Goodwill was reduced by $0.2 million as a result of these changes in estimates as the initial charges for certain stores were established in the purchase price allocations for previous acquisitions.

Included in the liability are lease obligations recorded at the present value of future minimum lease payments, calculated using a risk-free interest rate, and related ancillary costs from the date of closure to the end of the remaining lease term, net of estimated sublease income.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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