Acquisitions and Goodwill

9 Months Ended

Nov. 29, 2014

Business Combinations [Abstract]

Acquisitions and Goodwill

Acquisitions and Goodwill

During the thirty-nine weeks endedNovember 29, 2014, the Company completed four immaterial acquisitions of assets for total consideration of $9.6 million, net of cash acquired. A component of the consideration for one of the transactions included contingent consideration with an estimated fair value of $0.4 million, which is included within other liabilities and accrued expenses on the consolidated balance sheets. The Company determined the estimated fair values based on discounted cash flow analyses and estimates made by management. The entities from which the assets were acquired operated fifteen specialty running stores in Colorado, Kansas, Michigan, Missouri and North Carolina. In connection with these acquisitions, the Company recorded goodwill of $7.3 million during the thirty-nine weeks endedNovember 29, 2014. Goodwill is deductible for U.S. federal income tax purposes.

The Company allocated the aggregated preliminary purchase price for the acquisitions based upon the tangible and intangible assets acquired, net of liabilities. The allocation of the preliminary purchase prices is detailed below (in thousands):

	Allocation of Purchase Price
Goodwill	$	7,255
Tangible assets, net of liabilities	2,315
Total purchase price	$	9,570

During fiscal 2014, the Company completed four individually immaterial acquisitions of assets for total consideration of $13.8 million, net of cash acquired. A component of the consideration for one of the transactions included contingent consideration which was paid during the thirty-nine weeks endedNovember 29, 2014. The Company determined the estimated fair values based on discounted cash flow analyses and estimates made by management. The entities from which the assets were acquired operated fifteen specialty running stores in Ohio, Kentucky, Indiana, Colorado and Virginia. In connection with these acquisitions, the Company recorded goodwill of $11.6 million during fiscal 2014.

During the thirty-nine weeks endedNovember 29, 2014, the Company made the final working capital payments for two of the fiscal 2014 acquisitions, which did not have a material effect on the preliminary purchase price allocation. The Company allocated the aggregated preliminary purchase prices based upon the tangible and intangible assets acquired, net of liabilities. The allocation of the preliminary purchase prices for the fiscal 2014 acquisitions is detailed below (in thousands):

	Allocation of Purchase Price
Goodwill	$	11,647
Tangible assets, net of liabilities	2,190
Total purchase price	$	13,837

A reconciliation of goodwill is detailed below (in thousands):

	Goodwill
Balance as of March 2, 2013	$	13,888
Acquisitions	11,608
Other	112
Balance as of March 1, 2014	25,608
Acquisitions	7,255
Other	39
Balance as of November 29, 2014	$	32,902