XML 48 R23.htm IDEA: XBRL DOCUMENT
v3.19.3

Goodwill and Intangibles | 12 Months Ended
--- | ---
Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Note N – Goodwill and Intangibles The changes in the carrying amount of goodwill are as follows:
(in thousands) |  | Auto Parts Locations |  |  | Other |  |  | Total |
Net balance as of August 26, 2017 |  | $ | 326,703 |  |  | $ | 65,184 |  |  | $ | 391,887 |
Goodwill adjustments |  |  | (24,058 | ) |  |  | (65,184 | ) |  |  | (89,242 | )
Net balance as of August 25, 2018 (1) |  |  | 302,645 |  |  |  | — |  |  |  | 302,645 |
Goodwill adjustments |  |  | — |  |  |  | — |  |  |  | — |
Net balance as of August 31, 2019 |  | $ | 302,645 |  |  | $ | — |  |  | $ | 302,645 |
(1) | During the second quarter of fiscal 2018, the Company recorded impairment charges related to its IMC and AutoAnything businesses. See “Note M – Sale of Assets” for further discussion.
The Company performs its annual goodwill and intangibles impairment test in the fourth quarter of each fiscal year. In the fourth quarter of fiscal 2019 and 2018, the Company concluded its remaining goodwill was not impaired. Total accumulated goodwill impairment as of August 31, 2019 and August 25, 2018 was $107.5 million. The carrying amounts of intangible assets are included in Other long-term assets as follows:
|  | August 31, 2019 |
(in thousands) |  | Estimated Useful Life |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Technology |  |  | 3-5 years |  |  | $ | 870 |  |  | $ | (870 | ) |  | $ | — |
Customer relationships |  |  | 3-10 years |  |  |  | 29,376 |  |  |  | (23,760 | ) |  |  | 5,616 |
|  |  |  |  |  | $ | 30,246 |  |  | $ | (24,630 | ) |  |  | 5,616 |
Total intangible assets other than goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,616 |
|  | August 25, 2018 (1) |
(in thousands) |  | Estimated Useful Life |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizing intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Technology |  |  | 3-5 years |  |  | $ | 870 |  |  | $ | (870 | ) |  | $ | — |
Customer relationships |  |  | 3-10 years |  |  |  | 29,376 |  |  |  | (19,587 | ) |  |  | 9,789 |
|  |  |  |  |  | $ | 30,246 |  |  | $ | (20,457 | ) |  |  | 9,789 |
Total intangible assets other than goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 9,789 |
(1) | During the second quarter of fiscal 2018, the Company recorded $26.9 million of impairment charges related to AutoAnything’s and IMC’s trade names as the Company determined that the approximate fair value less costs to sell the businesses was significantly lower than the carrying value of the net assets. See “Note M – Sale of Assets” for further discussion. Trade names at August 25, 2018 reflect a total accumulated impairment of $31.0 million.
Amortization expense of intangible assets for the years ended August 31, 2019 and August 25, 2018 was $4.2 million and $5.1 million, respectively. Total future amortization expense for intangible assets that have finite lives, based on the existing intangible assets and their current estimated useful lives as of August 31, 2019, is estimated as follows:
(in thousands) |  | Total |
2020 |  | $ | 4,173 |
2021 |  |  | 1,443 |
Thereafter |  |  | — |
|  | $ | 5,616 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration