Goodwill and Intangible Assets, Net

4 Months Ended

Jun. 18, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 2—GOODWILL AND INTANGIBLE ASSETS

Changes in the Company’s Goodwill and Intangible assets, net consisted of the following:



	February 27, 2016			Additions			Impairments		Other net adjustments			June 18, 2016
Goodwill:
Wholesale	$	710		$	—		$	—	$	—		$	710
Save-A-Lot	142			1			—		—			143
Retail	15			—			—		—			15
Total goodwill	$	867		$	1		$	—	$	—		$	868

Intangible assets:
Favorable operating leases, prescription files, customer lists and other (accumulated amortization of $100 and $97 as of June 18, 2016 and February 27, 2016, respectively)	$	142		$	—		$	—	$	(1	)	$	141
Trademarks and tradenames – indefinite useful lives	9			—			—		1			10
Non-compete agreements (accumulated amortization of $2 and $2 as of June 18, 2016 and February 27, 2016, respectively)	3			—			—		—			3
Total intangible assets	154			—			—		—			154
Accumulated amortization	(99		)	(3		)	—		—			(102		)
Total intangible assets, net	$	55										$	52

Amortization of intangible assets with definite useful lives was $3 and $3 for the first quarters ended June 18, 2016 and June 20, 2015, respectively. Future amortization expense is anticipated to average approximately $6 per fiscal year for each of the next five fiscal years.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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