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Subsequent Events | 12 Months Ended
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Mar. 26, 2022
Subsequent Events [Abstract] |
Subsequent Events | Note 16 – Subsequent Events I n May 2022, Monro’s Board of Directors declared a cash dividend of $0.28 per common share or common share equivalent to be paid to shareholders of record as of June 6, 2022. The dividend will be paid on June 20, 2022. In May 2022, our Board of Directors authorized the repurchase of up to $150 million of our common stock. The Board of Directors did not specify a date upon which the authorization will expire. Shares may be repurchased through the open market or privately negotiated transactions. Shares repurchased under this authorization will become treasury shares. In May 2022, we entered into an agreement with American Tire Distributors, Inc. to sell our wholesale tire operations and internal tire distribution operations for approximately $105 million in the aggregate. Of the $105 million purchase price, $65 million is expected to be paid at the expected closing date during the first quarter of fiscal 2023 and the remaining $40 million is expected to be paid as earnout payments after the closing. The earnout payments will be earned, on a per-tire basis, based on tires we will buy from American Tire Distributors pursuant to a distribution agreement that we expect to enter with American Tire Distributors at the closing da te of the sale of assets. Based on the carrying value of the disposal assets, we do not expect to incur a significant loss on the transaction.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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