KR » Topics » CQUISTIONS

This excerpt taken from the KR 10-Q filed Sep 24, 2008.
CQUISTIONS

 

The following table summarizes the changes in the Company’s net goodwill balance through August 16, 2008.

 

 

 

Goodwill

 

Balance at February 2, 2008

 

$

2,144

 

Goodwill recorded

 

102

 

Balance at August 16, 2008

 

$

2,246

 

 

In the first quarter of 2008, the Company made an investment in The Little Clinic LLC (“TLC”).  TLC operates walk-in medical clinics in seven states, primarily located in the Midwest and Southeast.  At the date of investment, TLC was determined to be a Variable Interest Entity (“VIE”) under FASB Interpretation No. 46R, Consolidation of Variable Interest Entities (FIN 46R), with the Company being the primary beneficiary.  As a result, the Company consolidated TLC in accordance with FIN 46R.  The minority interest was recorded at fair value on the acquisition date.  The fair value of TLC was determined based on the amount of the investment made by the Company and the percentage acquired.  The Company’s preliminary assessment of goodwill represents the excess of this amount over the fair value of TLC’s net assets as of the investment date.

 

The pro forma effect of this investment is not material to previously reported results.

 

This excerpt taken from the KR 10-Q filed Jul 2, 2008.
CQUISTIONS

 

The following table summarizes the changes in the Company’s net goodwill balance through May 24, 2008.

 

 

 

Goodwill

 

Balance at February 2, 2008

 

$

2,144

 

Goodwill recorded

 

102

 

Balance at May 24, 2008

 

$

2,246

 

 

In the first quarter of 2008, the Company made an investment in The Little Clinic LLC (“TLC”).  TLC operates walk-in medical clinics in seven states, primarily located in the Midwest and Southeast.  At the date of investment, TLC was determined to be a Variable Interest Entity (“VIE”) under FASB Interpretation No. 46R, Consolidation of Variable Interest Entities (FIN 46R), with the Company being the primary beneficiary.  As a result, the Company consolidated TLC in accordance with FIN 46R.  The minority interest was recorded at fair value on the acquisition date.  Fair value of TLC was determined based on the amount of the investment made by the Company and the percentage acquired.  The Company’s preliminary assessment of goodwill represents the excess of this amount over the fair value of TLC’s net assets as of the investment date.

 

The pro forma effect of this investment is not material to previously reported results.

 

EXCERPTS ON THIS PAGE:

10-Q
Sep 24, 2008
10-Q
Jul 2, 2008
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