Kroger 2014 Annual Report Download - page 110
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A-45
NO T E S T O C O N S O L I D A T E D F I N A N C I A L S T A T E M E N T S , CO N T I N U E D
In 2014, the Company acquired definite and indefinite lived intangible assets totaling approximately $81
as a result of the merger with Vitacost.com.
In 2013, the Company acquired definite and indefinite lived intangible assets totaling approximately
$558 as a result of the merger with Harris Teeter.
The following table summarizes the Company’s intangible assets balance through January 31, 2015.
2014 2013
Gross carrying
amount
Accumulated
amortization (1)
Gross carrying
amount
Accumulated
amortization (1)
Definite-lived favorable leasehold interests.... $101 $(26) $144 $ (61)
Definite-lived pharmacy prescription files .... 98 (41) 95 (28)
Definite-lived customer relationships ........ 87 (17) 38 (4)
Definite-lived other ...................... 74 (13) 40 (6)
Indefinite-lived trade name ................ 430 — 430 —
Indefinite-lived liquor licenses ............. 64 — 54 —
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $854 $(97) $ 801 $ (99)
(1) Favorable leasehold interests are amortized to rent expense, pharmacy prescription files are amortized
to merchandise costs, customer relationships are amortized to depreciation and amortization expense
and other intangibles are amortized to operating, general and administrative (“OG&A”) expense and
depreciation and amortization expense.
Amortization expense associated with intangible assets totaled approximately $41, $18 and $13, during
fiscal years 2014, 2013 and 2012, respectively. Future amortization expense associated with the net carrying
amount of definite-lived intangible assets for the years subsequent to 2014 is estimated to be approximately:
2015 ...................................... $ 47
2016 ...................................... 38
2017 ...................................... 31
2018 ...................................... 28
2019 ...................................... 26
Thereafter ................................. 93
Total future estimated amortization associated
with definite-lived intangible assets........... $263
4 . P R O P E R T Y , PL A N T A N D E Q U I P M E N T , NE T
Property, plant and equipment, net consists of:
2014 2013
Land ..................................................... $ 2,819 $ 2,639
Buildings and land improvements .............................. 9,639 8,848
Equipment ................................................ 11,587 11,037
Leasehold improvements ..................................... 8,068 7,644
Construction-in-progress ..................................... 1,690 1,520
Leased property under capital leases and financing obligations ...... 737 691
Total property, plant and equipment.......................... 34,540 32,379
Accumulated depreciation and amortization ..................... (16,628) (15,486)
Property, plant and equipment, net........................... $ 17,912 $ 16,893