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Business Combinations (Notes) | 12 Months Ended
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Apr. 26, 2014
Business Combinations [Abstract] |
Business Combination | Business Combination We acquired 100 percent ownership in OPEN Out-of Home Solutions ("OPEN"), a Belgian company, on May 8, 2013 for an undisclosed amount. The results of its operations have been included in our consolidated financial statements since the date of acquisition. We have not made pro forma disclosures as the results of its operations are not material to our consolidated financial statements. OPEN is a European manufacturer of cabinets and street furniture for the third-party advertising market. This acquisition expanded our product offerings to third-party advertisers as they increasingly adopt digital technology and included a manufacturing plant in Belgium to manufacture digital advertising displays. This acquisition was funded with cash on hand and a five-year promissory note that matures in May 2018. During the third quarter of fiscal 2014, the purchase price allocation for the OPEN acquisition was completed. The excess of the purchase price over the net tangible and intangible assets was recorded as goodwill of $1,250 which primarily related to the value of an assembled workforce and is not deductible for tax purposes. Included in the purchase price allocation were acquired identifiable intangibles valued at $1,160 representing trade names with a useful life of 20 years and a customer list valued at $582 with a useful life of nine years. Also included in the purchase was $2,658 of property and equipment, $2,038 of inventory, $833 of other current assets offset by current operating liabilities of $1,230 and long and short term debt of $4,155. There were no material adjustments to the original purchase price allocation. The purchase price includes deferred payments of $2.3 million to be made over five years unless certain conditions in the business are not met. We have included the payment obligation in other long-term obligations in the balance sheet. OPEN's sales were included in the International business unit results and contributed $4.2 million of net sales during fiscal 2014. General and administrative expenses included $44 and $146 for the years ending April 26, 2014, and April 27, 2013, respectively, for professional fees relating to the acquisition.

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