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ACQUISITIONS (Tables) | 9 Months Ended
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Oct. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes total preliminary purchase consideration:
in millions |
Total cash consideration | $ | 17,707 |
Fair value of common stock issued (1) | 321 |
Total preliminary purchase consideration | $ | 18,028 |
————— (1) In connection with the acquisition, certain members of SRS’s management team concurrently reinvested a portion of their respective after-tax merger consideration proceeds into shares of the Company’s common stock. A portion of such shares of Company common stock are fully vested, and accordingly, the fair value of such shares was recorded as non-cash purchase consideration. A portion of such shares of Company common stock, which replaced legacy SRS stock-based awards, are subject to service-based vesting conditions over a three-year period and become forfeitable if such vesting conditions are not satisfied. Accordingly, a portion of the fair value of these shares was recorded as non-cash purchase consideration, and the remainder will be recorded as post-combination expense over the vesting period. The fair value of these shares, including the amount which will be recorded as post-combination compensation expense, is not material.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the recorded fair values of the assets acquired and liabilities assumed:
in millions | Preliminary Fair Value
Cash and cash equivalents | $ | 161 |
Receivables | 1,832 |
Merchandise inventories | 1,988 |
Property and equipment | 789 |
Goodwill | 10,967 |
Intangible assets | 5,780 |
Other current and non-current assets | 744 |
Total assets acquired | $ | 22,261 |
Accounts payable | $ | 1,791 |
Other current liabilities | 584 |
Deferred tax liabilities (1) | 1,076 |
Other long-term liabilities | 782 |
Total liabilities assumed | $ | 4,233 |
————— (1) Primarily resulting from the difference in book and tax basis related to identifiable intangible assets.
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The preliminary fair values and estimated useful lives of identifiable intangible assets are as follows:
in millions | Weighted Average Useful Life (Years) |  | Preliminary Fair Value
Customer relationships | 20 |  | $ | 5,400 |
Trade names | 5 |  | 380 |
Total identifiable intangible assets |  |  | $ | 5,780 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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