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ACQUISITIONS (Tables) | 9 Months Ended
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May 02, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the final consideration, fair value of assets acquired and liabilities assumed, and the resulting goodwill.
(in thousands) |  | Final Acquisition Date Fair Values
Consideration: |  |
Outstanding shares |  | $ | 1,258,450 |
Outstanding debt, excluding acquired senior notes |  | 1,046,170 |
Equity-based awards |  | 18,411 |
Total consideration |  | $ | 2,323,031 |
Fair value of assets acquired and liabilities assumed: |  |
Cash and cash equivalents |  | $ | 25,102 |
Accounts receivable |  | 552,381 |
Inventories |  | 1,156,781 |
Prepaid expenses and other current assets |  | 112,449 |
Current assets of discontinued operations |  | 196,848 |
Property, plant and equipment |  | 1,207,115 |
Goodwill |  | 376,181 |
Intangible assets |  | 918,103 |
Other assets |  | 77,008 |
Long-term assets of discontinued operations |  | 433,839 |
Accounts payable |  | (974,252 | )
Current portion of long-term debt and finance lease obligations |  | (579,565 | )
Other current liabilities |  | (331,693 | )
Current liabilities of discontinued operations |  | (148,763 | )
Long-term debt |  | (34,355 | )
Long-term finance lease obligations |  | (103,289 | )
Pension and other postretirement benefit obligations |  | (234,324 | )
Deferred income taxes |  | (18,254 | )
Other long-term liabilities |  | (308,516 | )
Long-term liabilities of discontinued operations |  | (1,398 | )
Noncontrolling interests |  | 1,633 |
Total consideration |  | 2,323,031 |
Less: Cash and cash equivalents(1) |  | (30,596 | )
Total consideration, net of cash and cash equivalents acquired |  | $ | 2,292,435 |
(1) Includes cash and cash equivalents acquired attributable to continuing operations and discontinued operations.
Schedule of Finite-Lived Intangible Assets Acquired | The following table summarizes the identifiable intangible assets and liabilities recorded based on final valuations. The identifiable intangible assets are expected to be amortized on a straight-line basis over the estimated useful lives indicated. The 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.
|  |  | Final Acquisition Date Fair Values
(in thousands) | Estimated Useful Life |  | Continuing Operations |  | Discontinued Operations
Customer relationship assets | 10-17 years |  | $ | 810,000 |  |  | $ | — |
Favorable operating leases | 1-19 years |  | 21,629 |  |  | — |
Leases in place | 1-8 years |  | 10,474 |  |  | — |
Tradenames | 2-9 years |  | 66,000 |  |  | 17,000 |
Pharmacy prescription files | 5-7 years |  | — |  |  | 45,900 |
Non-compete agreement | 2 years |  | 10,000 |  |  | — |
Unfavorable operating leases | 1-12 years |  | (21,754 | ) |  | — |
Total |  |  | $ | 896,349 |  |  | $ | 62,900 |
Schedule of Unaudited Pro Forma Information | The following table presents unaudited supplemental pro forma consolidated Net sales and Net loss from continuing operations based on the Company’s historical reporting periods as if the acquisition of Supervalu had occurred as of July 30, 2017:
| 13-Week Period Ended |  | 39-Week Period Ended
(in thousands, except per share data) | April 28, 2018(1) |  | April 27, 2019(2) |  | April 28, 2018(3)
Net sales | $ | 6,067,869 |  |  | $ | 18,096,796 |  |  | $ | 18,125,148 |
Net income (loss) from continuing operations | $ | 73,853 |  |  | $ | (378,422 | ) |  | $ | 42,855 |
Basic net income (loss) from continuing operations per share | $ | 1.46 |  |  | $ | (7.46 | ) |  | $ | 0.85 |
Diluted net income (loss) from continuing operations per share | $ | 1.46 |  |  | $ | (7.46 | ) |  | $ | 0.84 |
(1) | Includes 13 weeks of pro forma Supervalu results for the period ended April 28, 2018.
(2) | Includes 12 weeks of pro forma Supervalu results for the period ended September 8, 2018.
(3) | Includes 39 weeks of pro forma Supervalu results for the period ended April 28, 2018 and 19 weeks of pro forma Associated Grocers of Florida, Inc. results, which was acquired by Supervalu on December 8, 2017.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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