|
Business
Acquisition, Acquiree [Domain] |
Pacific Sales Kitchen and Bath
Centers, Inc [Member] |
Jiangsu Five Star Appliance
Co, Ltd [Member] |
Business Acquisition
[Line Items] |
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|
|
Business
Acquisition, Entity Acquired and Reason for Acquisition
[Abstract] |
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|
Business
Acquisition, Name of Acquired Entity |
Pacific Sales Kitchen and Bath
Centers, Inc. |
Jiangsu Five Star Appliance
Co., Ltd. |
Business
Acquisition, Description of Acquired Entity |
a high-end home-improvement
and appliance retailer |
Five Star is an appliance and
consumer electronics retailer with 135 stores located in seven of China's
34 provinces. |
Business
Acquisition, Reason for Acquisition |
to enhance our ability to grow
with an affluent customer base and premium brands using a proven and
successful showroom format. Utilizing the existing store format, we expect
to expand the number of stores in order to capitalize on the expanding
high-end segment of the U.S. appliance market. |
We made the investment in Five
Star to further our international growth plans, to increase our knowledge
of Chinese customers and to obtain an immediate retail presence in
China. |
Business
Acquisition, Percentage of Voting Interests Acquired |
100% |
75% |
Business
Acquisition, Date of Acquisition [Abstract] |
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|
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Business
Acquisition, Date of Acquisition Agreement |
March 7, 2006 |
June 8, 2006 |
Business
Acquisition, Effective Date of Acquisition |
March 7, 2006 |
June 8, 2006 |
Business
Acquisition, Cost of Acquired Entity [Abstract] |
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Business
Acquisition, Cost of Acquired Entity, Purchase Price [Abstract] |
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Business
Acquisition, Cost of Acquired Entity, Cash Paid |
411,000,000 |
122,000,000 |
Business
Acquisition, Cost of Acquired Entity, Other Noncash
Consideration |
|
62,000,000 |
Business
Acquisition, Cost of Acquired Entity, Purchase Price |
|
184,000,000 |
Business
Acquisition, Purchase Price Allocation [Abstract] |
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|
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Business
Acquisition, Purchase Price Allocation, Methodology |
The acquisition was accounted
for using the purchase method in accordance with SFAS No. 141, Business
Combinations. Accordingly, we recorded the net assets at their estimated
fair values, and included operating results in our Domestic segment from
the date of acquisition. |
The acquisition was accounted
for using the purchase method in accordance with SFAS No. 141, Business
Combinations. Accordingly, we recorded the net assets at their estimated
fair values, and included operating results in our International segment
from the date of acquisition. |
Business
Acquisition, Purchase Price Allocation, Status |
We allocated the purchase
price on a preliminary basis using information then available. The
allocation of the purchase price to the assets and liabilities acquired
was finalized in the fourth quarter of fiscal 2007. There were no
significant adjustments to the preliminary purchase price allocation. All
goodwill is deductible for tax purposes. |
We allocated the purchase
price on a preliminary basis using information currently available. The
allocation of the purchase price to the assets and liabilities acquired
will be finalized no later than the second quarter of fiscal 2008, as we
obtain more information regarding asset valuations, liabilities assumed
and revisions of preliminary estimates of fair values made at the date of
purchase. |
Business
Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities
Assumed), Net [Abstract] |
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|
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Business
Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities
Assumed), Net |
408,000,000 |
13,000,000 |
Business
Acquisition, Purchase Price Allocation, Current Assets
[Abstract] |
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Business
Acquisition, Purchase Price Allocation, Current Assets, Restricted
Cash |
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204,000,000 |
Business
Acquisition, Purchase Price Allocation, Current Assets, Inventory
[Abstract] |
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Business Acquisition, Purchase
Price Allocation, Current Assets, Merchandise |
45,000,000 |
109,000,000 |
Business
Acquisition, Purchase Price Allocation, Noncurrent Assets
[Abstract] |
|
|
|
Business
Acquisition, Purchase Price Allocation, Property, Plant and Equipment
[Abstract] |
|
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Business Acquisition, Purchase
Price Allocation, Property, Plant and Equipment |
2,000,000 |
78,000,000 |
Business
Acquisition, Purchase Price Allocation, Intangible Assets Not
Amortizable |
17,000,000 |
21,000,000 |
Business
Acquisition, Purchase Price Allocation, Other Noncurrent Assets |
19,000,000 |
78,000,000 |
Business
Acquisition, Purchase Price Allocation, Current Liabilities
[Abstract] |
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Business
Acquisition, Purchase Price Allocation, Current Liabilities, Accounts
Payable |
|
368,000,000 |
Business
Acquisition, Purchase Price Allocation, Current Liabilities, Other
Liabilities |
|
39,000,000 |
Business
Acquisition, Purchase Price Allocation, Current Liabilities |
44,000,000 |
|
Business
Acquisition, Purchase Price Allocation, Noncurrent Liabilities
[Abstract] |
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Business
Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term
Debt |
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64,000,000 |
Business
Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Other
Liabilities |
|
1,000,000 |
Business
Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Minority
Interests |
|
32,000,000 |
Business
Acquisition, Purchase Price Allocation, Goodwill [Abstract] |
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Business
Acquisition, Purchase Price Allocation, Goodwill Amount |
369,000,000 |
27,000,000 |
Business
Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible
Amount |
|
0 |
Business
Acquisition, Other Information [Abstract] |
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Business
Acquisition, Minority Owner's Share of Earnings |
|
The minority owners'
proportionate share of net earnings was $1 in fiscal 2007 |
Business
Acquisition, Acquiree Affiliate |
|
Five Star owns a 40% interest
in, and purchases appliances from, Jiangsu Heng Xin Ge Li Air Conditioner
Sales Co., Ltd. Purchases from this affiliate were $43 in fiscal 2007. At
March 3, 2007, less than $1 was due to this affiliate for the purchase of
appliances. |