Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Jun. 03, 2023

Goodwill and Other Intangible Assets

Summary of the changes in the carrying amount of goodwill


	Retail		Pharmacy
	Pharmacy		Services		Total
Balance, March 4, 2023		43,492		464,444		507,936
Goodwill impairment		—		(151,500)		(151,500)
Balance, June 3, 2023	$	43,492	$	312,944	$	356,436

Schedule of indefinite-lived intangible assets


	June 3, 2023								March 4, 2023
							Remaining								Remaining
							Weighted								Weighted
	Gross						Average		Gross						Average
	Carrying		Accumulated				Amortization		Carrying		Accumulated				Amortization
	Amount		Amortization		Net		Period		Amount		Amortization		Net		Period
Non-compete agreements and other^(a)	$	205,249	$	(184,911)	$	20,338	3	years	$	201,919	$	(182,957)	$	18,962	3	years
Prescription files		1,035,505		(934,114)		101,391	5	years		1,029,665		(928,478)		101,187	5	years
Customer relationships^(a)		388,000		(310,842)		77,158	8	years		388,000		(306,139)		81,861	9	years
CMS license		57,500		(25,904)		31,596	3	years		57,500		(23,798)		33,702	4	years
Claims adjudication and other developed software		58,985		(58,985)		—	0	years		58,985		(58,985)		—	0	years
Total finite	$	1,745,239	$	(1,514,756)		230,483			$	1,736,069	$	(1,500,357)	$	235,712
Trademarks		14,400		—		14,400	Indefinite			14,400		—		14,400	Indefinite
Total	$	1,759,639	$	(1,514,756)	$	244,883			$	1,750,469	$	(1,500,357)	$	250,112

(a)	Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.

Schedule of finite-lived intangible assets


	June 3, 2023								March 4, 2023
							Remaining								Remaining
							Weighted								Weighted
	Gross						Average		Gross						Average
	Carrying		Accumulated				Amortization		Carrying		Accumulated				Amortization
	Amount		Amortization		Net		Period		Amount		Amortization		Net		Period
Non-compete agreements and other^(a)	$	205,249	$	(184,911)	$	20,338	3	years	$	201,919	$	(182,957)	$	18,962	3	years
Prescription files		1,035,505		(934,114)		101,391	5	years		1,029,665		(928,478)		101,187	5	years
Customer relationships^(a)		388,000		(310,842)		77,158	8	years		388,000		(306,139)		81,861	9	years
CMS license		57,500		(25,904)		31,596	3	years		57,500		(23,798)		33,702	4	years
Claims adjudication and other developed software		58,985		(58,985)		—	0	years		58,985		(58,985)		—	0	years
Total finite	$	1,745,239	$	(1,514,756)		230,483			$	1,736,069	$	(1,500,357)	$	235,712
Trademarks		14,400		—		14,400	Indefinite			14,400		—		14,400	Indefinite
Total	$	1,759,639	$	(1,514,756)	$	244,883			$	1,750,469	$	(1,500,357)	$	250,112

(a)	Amortized on an accelerated basis which is determined based on the remaining useful economic lives of the customer relationships that are expected to contribute directly or indirectly to future cash flows.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

RITE AID CORP 10-Q/A