Dollar General 2014 Annual Report Download - page 137

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10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
1. Basis of presentation and accounting policies (Continued)
Accounting standards
In July 2013, the Financial Accounting Standards Board issued an accounting standards update
which relates to the presentation of an unrecognized tax benefit when a net operating loss
carryforward, a similar tax loss, or a tax credit carryforward exists. The Company’s adoption of this
guidance in the first quarter of 2014 did not have a material effect on the Company’s condensed
consolidated financial statements.
In May 2014, the Financial Accounting Standards Board issued comprehensive new accounting
standards related to the recognition of revenue. This guidance is effective for annual reporting periods
beginning after December 15, 2016, and early adoption is not permitted. The new guidance allows for
companies to use either a full retrospective or a modified retrospective approach in the adoption of
this guidance, and the Company is evaluating these transition approaches. The Company will adopt this
guidance in the first quarter of fiscal year 2017 and is currently in the process of evaluating the effect
of adoption on its consolidated financial statements.
Reclassifications
Certain financial disclosures relating to prior periods may have been reclassified to conform to the
current year presentation.
2. Goodwill and other intangible assets
As of January 30, 2015 and January 31, 2014, the balances of the Company’s intangible assets were
as follows:
As of January 30, 2015
Remaining Accumulated
(In thousands) Life Amount Amortization Net
Goodwill .............................. Indefinite $4,338,589 $ — $4,338,589
Other intangible assets:
Leasehold interests ..................... 1 to 8 years $ 18,218 $16,048 $ 2,170
Trade names and trademarks .............. Indefinite 1,199,700 — 1,199,700
$1,217,918 $16,048 $1,201,870
As of January 31, 2014
Remaining Accumulated
(In thousands) Life Amount Amortization Net
Goodwill ............................. Indefinite $4,338,589 $ — $4,338,589
Other intangible assets:
Leasehold interests .................... 1 to 9 years $ 64,644 $56,699 $ 7,945
Trade names and trademarks ............. Indefinite 1,199,700 — 1,199,700
$1,264,344 $56,699 $1,207,645
63