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ADVANCE AUTO PARTS, INC. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
January 2, 2016, January 3, 2015 and December 28, 2013
(in thousands, except per share data)
F-22
In August 2014, the Company approved plans to consolidate its 40 Autopart International ("AI") stores located in Florida
into Advance Auto Parts stores. All of the AI consolidations and conversions were complete as of the second quarter of fiscal
2015. During 2015, the Company incurred $2,700 of exit costs, consisting primarily of closed facility lease obligations,
associated with these plans.
Total Restructuring Liabilities
A summary of the Company’s restructuring liabilities, which are recorded in accrued expenses (current portion) and long-
term liabilities (long-term portion) in the accompanying condensed consolidated balance sheet, are presented in the following
table:
Closed
Facility
Lease
Obligations Severance
Relocation
and Other
Exit Costs Total
Balance, January 3, 2015 $ 19,270 $ 5,804 $ 1,816 $ 26,890
Reserves established 34,699 13,351 4,419 52,469
Change in estimates (205)(2,009)—
(2,214)
Cash payments (11,274)(10,891)(5,884)(28,049)
Balance, January 2, 2016 $ 42,490 $ 6,255 $ 351 $ 49,096
Balance, December 28, 2013 $ 11,212 $ — $ — $ 11,212
Reserves acquired with GPI 3,455 — — 3,455
Reserves established 11,138 8,038 7,053 26,229
Change in estimates 1,053 (1,307)—
(254)
Cash payments (7,588)(927)(5,237)(13,752)
Balance, January 3, 2015 $ 19,270 $ 5,804 $ 1,816 $ 26,890
5. Goodwill and Intangible Assets:
Goodwill
The following table reflects the carrying amount of goodwill and the changes in goodwill carrying amounts.
January 2,
2016
January 3,
2015
(52 weeks ended) (53 weeks ended)
Goodwill, beginning of period $ 995,426 $ 199,835
Acquisitions 1,995 798,043
Changes in foreign currency exchange rates (7,937)(2,452)
Goodwill, end of period $ 989,484 $ 995,426
During 2015, the Company added $1,995 of goodwill associated with the acquisition of 23 stores. During 2014, the
Company acquired GPI which resulted in the addition of $797,391 of goodwill and also added $652 of goodwill associated
with the acquisition of nine stores.