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Acquisitions Acquisitions | 12 Months Ended
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Feb. 23, 2018
Business Combinations [Abstract] |
Business Combination Disclosure [Text Block] | ACQUISITIONS On December 26, 2017, we acquired AMQ Solutions ("AMQ"), a California-based provider of height-adjustable desking, benching and seating for workstations in the open plan, collaborative environments and training rooms. In addition, we acquired certain assets of an affiliated company, Tricom Vision Limited. The total purchase price for the acquisition was $69.9, payable in cash, which was primarily funded by the liquidation of short-term investments. An additional $4.5 is payable to the sellers contingent upon certain performance obligations being met over a two year period. This acquisition is expected to strengthen our reach within the industry by broadening our portfolio at lower price points. The goodwill resulting from the acquisition consists largely of economies of scale expected from integrating AMQ into our existing dealer network. Tangible assets and liabilities were valued as of the acquisition date using a market analysis and intangible assets were valued using a discounted cash flow analysis, which represents a Level 3 measurement. We recorded $30.1 related to identifiable intangible assets, $31.2 to goodwill and approximately $13 related to working capital items such as accounts receivable, inventories and accounts payable. The entire amount recorded to goodwill is deductible for U.S. income tax purposes. Intangibles are principally related to dealer relationships which will be amortized over 11 years. AMQ is included as part of the Americas segment. The purchase price allocation for the AMQ acquisition was incomplete as of February 23, 2018. We are still evaluating certain working capital adjustments, as well as the reporting unit to which the goodwill resulting from the AMQ acquisition will be allocated for future impairment testing purposes. The following table summarizes the acquired identified intangible assets and the respective fair value and useful life of each asset at the date of acquisition:
Other Intangible Assets | February 23, 2018
Weighted Average Useful Life (Years) | Fair Value
Trademarks | 9.0 |  |  | $ | 1.3 |  |
Dealer relationships | 11.0 |  |  | 25.5 |  |
Other | 4.6 |  |  | 3.3 |  |
|  |  | $ | 30.1 |  |
The fair value of the acquired intangible assets will be amortized on a straight-line basis over the remaining useful life. The estimated amortization expense for the next five years is as follows:
Fiscal Year Ending in February | Amount
2019 | 3.2 |
2020 | 3.1 |
2021 | 3.0 |
2022 | 3.0 |
2023 | 3.0 |
| $ | 15.3 |

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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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- References No definition available. + Details
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