Goodwill and Other Intangibles

12 Months Ended

Jul. 02, 2011

Goodwill and Other Intangibles [Abstract]

7. GOODWILL AND OTHER INTANGIBLES

The changes in the carrying amount of goodwill and the amount allocated by reportable segment for the years presented are as follows:


	Broadline		SYGMA		Other			Total
	(In thousands)
Carrying amount as of June 27, 2009	$	1,087,467	$	32,609	$	390,719		$	1,510,795
Goodwill acquired during year		18,350		—		6,829			25,179
Currency translation/Other		15,651		—		(1,810	)		13,841

Carrying amount as of July 3, 2010		1,121,468		32,609		395,738			1,549,815
Goodwill acquired during year		44,047		—		—			44,047
Currency translation/Other		39,442		—		(15	)		39,427

Carrying amount as of July 2, 2011	$	1,204,957	$	32,609	$	395,723		$	1,633,289

Amortized intangible assets acquired during fiscal 2011 were $19.2 million with a weighted-average amortization period of eight years. By intangible asset category, the amortized intangible assets acquired during fiscal 2011 were customer relationships of $15.6 million with a weighted-average amortization period of eight years, non-compete agreements of $3.1 million with a weighted-average amortization period of five years and amortized trademarks of $0.5 million with a weighted-average amortization period of five years. The following table presents details of the company's amortized intangible assets:


	July 2, 2011							July 3, 2010
	Gross Carrying		Accumulated					Gross Carrying		Accumulated
	Amount		Amortization			Net		Amount		Amortization			Net
	(In thousands)
Amortized intangible assets:
Customer relationships	$	190,112	$	(97,846	)	$	92,266	$	169,913	$	(77,394	)	$	92,519
Non-compete agreements		4,574		(1,269	)		3,305		2,320		(1,306	)		1,014
Trademarks		1,623		(282	)		1,341		1,038		(136	)		902

Total amortized intangible assets	$	196,309	$	(99,397	)	$	96,912	$	173,271	$	(78,836	)	$	94,435

Intangible assets that have been fully amortized have been removed in the schedule above in the period full amortization is reached. Indefinite-lived intangible assets consisted of trademarks of $13.0 million and $12.0 million as of July 2, 2011 and July 3, 2010, respectively.

Amortization expense for the past three years was $21.9 million in 2011, $20.9 million in 2010 and $15.7 million in 2009. The estimated future amortization expense for the next five fiscal years on intangible assets outstanding as of July 2, 2011 is shown below:


	Amount
	(In thousands)
2012	$	22,513
2013		20,518
2014		19,126
2015		14,501
2016		7,668

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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