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ACQUISITIONS (Tables) | 6 Months Ended
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Jan. 26, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration paid, preliminary fair values of the Supervalu assets acquired and liabilities assumed, and the resulting preliminary goodwill. Due to the recent closing of the transaction, management’s ongoing assessment of the fair values of acquired assets and liabilities, and its further review of certain disposal components being classified as held for sale, as of January 26, 2019, the purchase price allocation was preliminary and will be finalized when valuations are complete and final assessments of the fair value of other acquired assets and assumed liabilities are completed. There can be no assurance that such final assessments will not result in material changes from the preliminary purchase price allocations, and such changes may result in increases or decreases to the goodwill impairment charge recorded in the second quarter of fiscal 2019 due to changes in the opening balance sheet value of goodwill. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the acquisition date), as the Company finalizes the valuations of certain tangible and intangible asset acquired and liabilities assumed.
| As of October 22, 2018
(in thousands) | Preliminary as of October 27, 2018 |  | Preliminary as of January 26, 2019
Cash and cash equivalents | $ | 25,102 |  |  | $ | 25,102 |
Accounts receivable | 557,680 |  |  | 556,562 |
Inventories | 1,162,360 |  |  | 1,162,360 |
Prepaid expenses and other current assets | 66,440 |  |  | 70,440 |
Current assets of discontinued operations(1) | 196,615 |  |  | 196,615 |
Property, plant and equipment | 1,148,001 |  |  | 1,221,925 |
Goodwill | 347,485 |  |  | 491,695 |
Intangible assets(2) | 1,077,541 |  |  | 885,658 |
Other assets(2) | 109,445 |  |  | 80,105 |
Long-term assets of discontinued operations(1) | 404,301 |  |  | 442,701 |
Accounts payable | (967,429 | ) |  | (972,340 | )
Other current liabilities | (282,692 | ) |  | (327,713 | )
Current portion of long term debt and capital lease obligations | (579,677 | ) |  | (579,677 | )
Current liabilities of discontinued operations(1) | (150,611 | ) |  | (150,690 | )
Long-term debt and capital lease obligations(3) | (179,262 | ) |  | (138,163 | )
Pension and other postretirement benefit obligations | (234,324 | ) |  | (234,324 | )
Deferred income taxes | (177,231 | ) |  | (100,612 | )
Other long-term liabilities(3) | (200,913 | ) |  | (306,816 | )
Long-term liabilities of discontinued operations(1) | (1,401 | ) |  | (1,398 | )
Total fair value of net assets acquired | 2,321,430 |  |  | 2,321,430 |
Plus: noncontrolling interests | 1,633 |  |  | 1,633 |
Less: cash and cash equivalents(4) | (30,596 | ) |  | (30,596 | )
Less: assumed equity award liabilities | (18,638 | ) |  | (18,638 | )
Plus: cash paid for equity awards | — |  |  | 8,105 |
Total consideration paid in cash | 2,273,829 |  |  | 2,281,934 |
Plus: unpaid assumed equity award liabilities(5) | 18,638 |  |  | 10,533 |
Total consideration | $ | 2,292,467 |  |  | $ | 2,292,467 |
(1) | Refer to Note 18. “Discontinued Operations” for additional Condensed Consolidated Balance Sheets information regarding the carrying value of discontinued operations at the end of the second quarter of fiscal 2019, subsequent to the acquisition date.
(2) | During the second quarter of fiscal 2019, the Company reclassified favorable operating lease intangible assets from Other assets to in Intangible assets within this table.
(3) | During the second quarter of fiscal 2019, the Company reclassified residual financing obligations associated with build-to-suit properties for which the Company is not obligated to fund unless it is obligated under a future extension of a lease agreement. This reclassification resulted in a reduction of Long-term debt and capital lease obligations of $23.8 million, with an offsetting increase in Other long-term liabilities assumed within this table. If the terms of the respective leases are extended and a cash obligation for a portion of this residual value balance exists, the Company will present these contractual obligations within Long-term capital lease obligations within the Condensed Consolidated Balance Sheets.
(4) | Includes cash and cash equivalents acquired attributable to discontinued operations.
(5) | Includes equity consideration for share-based awards that have not yet been paid, which reflects non-cash consideration for the second quarter of fiscal 2019 that will become cash consideration in subsequent periods.
Schedule of Finite-Lived Intangible Assets Acquired | The following table summarizes the identifiable intangible assets recorded based on provisional valuations. The identifiable intangible assets are expected to be amortized on a straight-line basis over the estimated useful lives indicated. The preliminary fair value of identifiable intangible assets acquired was determined using income approaches. Significant assumptions utilized in the income approach were based on Company-specific information and projections, which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance.
|  |  | As of October 22, 2018
(in thousands) | Estimated Useful Life |  | Continuing Operations |  | Discontinued Operations
Customer relationship assets | 11–19 years |  | $ | 785,000 |  |  | $ | — |
Favorable operating leases | 3–25 years |  | 23,658 |  |  | — |
Tradenames | 2-9 years |  | 66,000 |  |  | 17,000 |
Pharmacy prescription files | 5–7 years |  | — |  |  | 41,100 |
Non-compete agreement | 2 years |  | 11,000 |  |  | — |
Unfavorable operating leases | 2 years |  | (20,777 | ) |  | — |
Total Supervalu finite-lived intangibles acquired |  |  | $ | 864,881 |  |  | $ | 58,100 |
Schedule of Unaudited Pro Forma Information | The following table presents unaudited supplemental pro forma consolidated Net sales and Net income from continuing operations based on Supervalu’s historical reporting periods as if the acquisition had occurred as of July 30, 2017:
| 13-Week Period Ended |  | 26-Week Period Ended
(in thousands, except per share data) | January 27, 2018(2) |  | January 26, 2019(1) |  | January 27, 2018(2)
Net sales | $ | 6,159,106 |  |  | $ | 12,134,176 |  |  | $ | 12,056,161 |
Net loss from continuing operations | $ | (25,388 | ) |  | $ | (411,196 | ) |  | $ | (34,349 | )
Basic net loss from continuing operations per share | $ | (0.50 | ) |  | $ | (8.11 | ) |  | $ | (0.68 | )
Diluted net loss from continuing operations per share | $ | (0.50 | ) |  | $ | (8.11 | ) |  | $ | (0.68 | )
(1) | These pro forma results reflect an additional 12 weeks from Supervalu for the period ended, September 8, 2018.
(2) | These pro forma results reflect Supervalu’s and Associated Grocers of Florida, Inc.’s, which was acquired by Supervalu on December 8, 2017, 13-week and 26-week periods ended December 2, 2017, respectively.

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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