Business Acquisition, Acquiree [Domain]
Pacific Sales Kitchen and Bath Centers, Inc [Member] Jiangsu Five Star Appliance Co, Ltd [Member]
Business Acquisition [Line Items]
Business Acquisition, Entity Acquired and Reason for Acquisition [Abstract]
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]
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]
Business Acquisition, Cost of Acquired Entity, Purchase Price [Abstract]
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]
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]
Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net 408,000,000 13,000,000
Business Acquisition, Purchase Price Allocation, Current Assets [Abstract]
Business Acquisition, Purchase Price Allocation, Current Assets, Restricted Cash 204,000,000
Business Acquisition, Purchase Price Allocation, Current Assets, Inventory [Abstract]
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]
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]
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]
Business Acquisition, Purchase Price Allocation, Noncurrent Liabilities, Long-term Debt 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]
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]
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.