Albertsons 2012 Annual Report Download - page 57

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NOTE 2—GOODWILL AND INTANGIBLE ASSETS
Changes in the Company’s Goodwill and Intangible assets consisted of the following:
February 27,
2010 Additions Impairments
Other net
adjustments
February 26,
2011 Additions Impairments
Other net
adjustments
February 25,
2012
Goodwill:
Retail food
goodwill $ 6,114 $ — $ — $ 2 $ 6,116 $ — $ — $ (16) $ 6,100
Accumulated
impairment
losses (3,223) — (1,619) — (4,842) — (1,121) — (5,963)
Total Retail
food
goodwill,
net 2,891 — (1,619) 2 1,274 — (1,121) (16) 137
Independent
business
goodwill 807 — — (97) 710 — — — 710
Total goodwill $ 3,698 $ — $ (1,619) $ (95) $ 1,984 $ — $ (1,121) (16) $ 847
February 27,
2010
Additions/
Amortization Impairments
Other net
adjustments
February 26,
2011
Additions/
Amortization Impairments
Other net
adjustments
February 25,
2012
Intangible assets:
Trademarks and
tradenames—
indefinite useful
lives $ 1,049 $ — $ (251) $ (18) $ 780 $ — $ (311) $ — $ 469
Favorable
operating leases,
customer lists,
customer
relationships and
other
(accumulated
amortization of
$331 and $280
as of
February 25,
2012 and
February 26,
2011,
respectively) 674 12 — (23) 663 9 — (8) 664
Non-compete
agreements
(accumulated
amortization of
$4 and $4 as of
February 25,
2012 and
February 26,
2011,
respectively) 13 1 — (3) 11 1 — (1) 11
Total intangible assets 1,736 13 (251) (44) 1,454 10 (311) (9) 1,144
Accumulated
amortization (243) (57) — 16 (284) (56) — 5 (335)
Total intangible assets,
net $ 1,493 $ 1,170 $ 809
The Company applies a fair value based impairment test to the net book value of goodwill and intangible assets with
indefinite useful lives on an annual basis and on an interim basis if events or circumstances indicate that an
impairment loss may have occurred.
53