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Interline Acquisition | 12 Months Ended
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Jan. 28, 2018
Business Combinations [Abstract] |
Interline Acquisition | INTERLINE ACQUISITION In August 2015, we completed our acquisition of Interline, which established a platform in the MRO market. The aggregate purchase price was $1.7 billion, a portion of which was used for the repayment of substantially all of Interline’s indebtedness at that time. We have consolidated Interline’s results of operations in our financial statements since the date of acquisition. Pro forma results of operations for the period prior to the acquisition in fiscal 2015 would not be materially different as a result of the acquisition and therefore are not presented. We finalized our purchase price allocation during the fourth quarter of fiscal 2015. The estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for Interline follow.
in millions | Fair Value
Current assets | $ | 593 |
Long-lived assets other than goodwill | 619 |
Goodwill | 788 |
Other assets | 49 |
Total assets acquired | 2,049 |
Current liabilities | 199 |
Other long-term liabilities | 178 |
Total liabilities assumed | 377 |
Net assets acquired | $ | 1,672 |
Intangible assets acquired consist of customer relationships of $310 million, with a weighted average useful life of 12 years, and trade names of $253 million, with an indefinite life, which are included in other assets. The goodwill of $788 million represents future economic benefits expected to arise from our expanded presence in the MRO market and expected revenue and purchasing synergies. Neither the intangible assets nor the goodwill acquired are deductible for income tax purposes.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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