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Goodwill and Intangibles
8 Months Ended
May 05, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles

Note K – Goodwill and Intangibles    

The changes in the carrying amount of goodwill are as follows:

 

(in thousands)

       Auto Parts    
Stores
          Other                   Total        

Net balance as of August 26, 2017

     $ 326,703     $ 65,184     $ 391,887

Goodwill adjustments (1)

       (24,058 )       (65,184 )       (89,242 )  
    

 

 

     

 

 

     

 

 

 

Net balance as of May 5, 2018

     $         302,645     $                   –     $         302,645
    

 

 

     

 

 

     

 

 

 

The carrying amounts of intangible assets are included in Other long-term assets as follows:

 

(in thousands)

   Estimated
  Useful Life  
   Gross
  Carrying  
Amount
   Accumulated
  Amortization  
        Impairment (1)    

Net

    Carrying    
Amount

    

Amortizing intangible assets:

                          

Technology

       3-5 years      $ 10,570      $ (9,994 )       $ (576 )     $  

Noncompete agreements

       5 years        1,300        (1,223 )         (77 )        

Customer relationships

       3-10 years        49,676        (28,546 )         (10,057 )       11,073  
         

 

 

      

 

 

       

 

 

     

 

 

   
          $         61,546      $         (39,763 )       $         (10,710 )       11,073  
         

 

 

      

 

 

       

 

 

       

Non-amortizing intangible asset:

                          

Trade name

                     $ (26,900 )        
                    

 

 

     

 

 

   

Total intangible assets other than goodwill

                         $         11,073  
                        

 

 

   

 

(1) See “Note L – Sale of Assets” for further discussion

Amortization expense of intangible assets for the twelve and thirty-six week periods ended May 5, 2018 was $1.0 million and $3.8 million, respectively. Amortization expense of intangible assets for the twelve and thirty-six week periods ended May 6, 2017 was $1.9 million and $5.9 million, respectively.