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ACQUISITIONS (Tables)
 9 Months Ended
Apr. 27, 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 assumed liabilities, and its further review of certain disposal components being classified as held for sale, as of April 27, 2019, the purchase price allocation was preliminary and will be finalized when valuations 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 fiscal 2019 year-to-date 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 assets acquired, and liabilities assumed.
 
As of October 22, 2018
(in thousands)
Preliminary as of October 27, 2018
 
Preliminary as of April 27, 2019
Cash and cash equivalents
$
25,102

 
$
25,102

Accounts receivable
557,680

 
543,570

Inventories
1,162,360

 
1,162,175

Prepaid expenses and other current assets
66,440

 
69,850

Current assets of discontinued operations(1)
196,615

 
204,917

Property, plant and equipment
1,148,001

 
1,209,486

Goodwill
347,485

 
444,572

Intangible assets(2)
1,077,541

 
923,099

Other assets(2)
109,445

 
77,266

Long-term assets of discontinued operations(1)
404,301

 
439,235

Accounts payable
(967,429
)
 
(973,394
)
Other current liabilities
(282,692
)
 
(327,619
)
Current portion of long term debt and capital lease obligations
(579,677
)
 
(579,566
)
Current liabilities of discontinued operations(1)
(150,611
)
 
(150,690
)
Long-term debt and capital lease obligations(3)
(179,262
)
 
(137,644
)
Pension and other postretirement benefit obligations
(234,324
)
 
(234,324
)
Deferred income taxes
(177,231
)
 
(74,254
)
Other long-term liabilities(3)
(200,913
)
 
(299,598
)
Long-term liabilities of discontinued operations(1)
(1,401
)
 
(753
)
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
—

 
8,498

Total consideration paid in cash
2,273,829

 
2,282,327

Plus: unpaid assumed equity award liabilities(5)
18,638

 
9,914

Total consideration
$
2,292,467

 
$
2,292,241

(1)
Refer to Note 19. “Discontinued Operations” for additional information regarding the carrying value of discontinued operations within the Condensed Consolidated Balance Sheets.
(2)
During the second quarter of fiscal 2019, the Company reclassified favorable operating lease intangible assets of $23.7 million from Other assets to 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 continuing operations and discontinued operations.
(5)
Includes equity consideration for share-based awards that have not yet been paid, which reflects non-cash consideration for the third 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 and liabilities 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
 
$
815,000

 
$
—

Favorable operating leases
3–25 years
 
33,099

 
—

Tradenames
2-9 years
 
66,000

 
17,000

Pharmacy prescription files
5–7 years
 
—

 
41,100

Non-compete agreement
2 years
 
9,000

 
—

Unfavorable operating leases
2 years
 
(11,199
)
 
—

Total
 
 
$
911,900

 
$
58,100
Schedule of Unaudited Pro Forma Information
The following table presents unaudited supplemental pro forma consolidated Net sales and Net income (loss) from continuing operations based on UNFI’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(2)
Net sales
$
6,067,869

 
$
18,096,796

 
$
18,125,148

Net income (loss) from continuing operations
$
73,853

 
$
(303,364
)
 
$
42,855

Basic net income (loss) from continuing operations per share
$
1.46

 
$
(5.98
)
 
$
0.85

Diluted net income (loss) from continuing operations per share
$
1.46

 
$
(5.98
)
 
$
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 an additional 19 weeks of pro forma Associated Grocers of Florida, Inc. results, which was acquired by Supervalu on December 8, 2017.