NOTE 4ACQUISITIONS Supervalu Acquisition On July 25, 2018, the Company entered into an agreement and plan of merger to acquire all of the outstanding equity securities of Supervalu, which was then the largest publicly traded conventional grocery distributor in the United States. The acquisition of Supervalu diversifies the Companys customer base, further enables cross-selling opportunities, expands market reach and scale, enhances technology, capacity and systems, and is expected to deliver significant synergies and accelerate potential growth. The merger was completed on October 22, 2018 (the Closing Date). At the effective time of the acquisition, each share of Supervalu common stock, par value $0.01 per share, issued and outstanding, was canceled and converted into the right to receive a cash payment equal to $32.50 per share, without interest. Total consideration related to this acquisition was $2.3 billion , $1.3 billion of which was paid in cash to Supervalu shareholders and $1.0 billion of which was used to satisfy Supervalus outstanding debt obligations. Included in the liabilities assumed in the Supervalu acquisition were the Supervalu Senior Notes with a fair value of $546.6 million . These Senior Notes were redeemed in the second quarter of fiscal 2019 following the required 30-day notice period, resulting in their satisfaction and discharge. The assets and liabilities of Supervalu were recorded in the Companys Consolidated Financial Statements at their estimated fair values as of the acquisition date. In conjunction with the Supervalu acquisition, the Company announced its plan to sell the remaining acquired retail operations of Supervalu. In the fourth quarter of the current fiscal year, the Company announced its plan to retain certain retail operations and as a result the acquired retail assets and assumed liabilities of Supervalu were recast to reflect the revised discontinued operations of the Company. Refer to Note 19Discontinued Operations for more information on discontinued operations. The following table summarizes the final consideration, fair value of assets acquired and liabilities assumed, and the resulting goodwill. (in thousands) Final Acquisition Date Fair Values As Recast Consideration: Outstanding shares $ 1,258,450 Outstanding debt, excluding acquired senior notes 1,046,170 Equity-based awards 18,411 Total consideration $ 2,323,031 Fair value of assets acquired and liabilities assumed: Cash and cash equivalents $ 27,142 Accounts receivable 554,311 Inventories 1,274,624 Prepaid expenses and other current assets 118,283 Current assets of discontinued operations 69,201 Property, plant and equipment 1,457,951 Goodwill 376,181 Intangible assets 967,003 Other assets 77,093 Long-term assets of discontinued operations 134,019 Accounts payable (1,020,328 ) Current portion of long-term debt and finance lease obligations (579,565 ) Other current liabilities (380,239 ) Current liabilities of discontinued operations (54,142 ) Long-term debt (34,355 ) Long-term finance lease obligations (103,289 ) Pension and other postretirement benefit obligations (234,324 ) Deferred income taxes (18,254 ) Other long-term liabilities (309,144 ) Long-term liabilities of discontinued operations (770 ) Noncontrolling interests 1,633 Total consideration 2,323,031 Less: Cash and cash equivalents (1) (30,596 ) Total consideration, net of cash and cash equivalents acquired $ 2,292,435 (1) Includes cash and cash equivalents acquired attributable to continuing operations and discontinued operations. Goodwill represents the future economic benefits arising largely from the synergies expected from combining the operations of the Company and Supervalu that could not be individually identified and separately recognized. A substantial portion of goodwill is deductible for income tax purposes. Goodwill from the acquisition was attributed to the Companys Supervalu Wholesale reporting unit and the legacy Company Wholesale reporting unit, which in the first quarter of fiscal 2020 was reorganized into a single U.S. Wholesale reporting unit, as discussed further in Note 7Goodwill and Intangible Assets . No goodwill was attributed to the Companys Retail reporting unit or any other reporting units. During the first quarter of fiscal 2020, the Company finalized its fair value estimates of the acquired net assets, which primarily related to immaterial changes to income taxes and property and equipment. The fair value of assets acquired and liabilities assumed has been revised to present Retail within continuing operations. The following table summarizes the identifiable intangible assets and liabilities recorded based on final valuations, as recast. The identifiable intangible assets are expected to be amortized on a straight-line basis over the estimated useful lives indicated. The fair value of identifiable intangible assets acquired was determined using income approaches. Significant assumptions utilized in the income approach were based on Company-specific information and projections, which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance. Final Acquisition Date Fair Values As Recast (in thousands) Estimated Useful Life Continuing Operations Discontinued Operations Customer relationship assets 10-17 years $ 810,000 $  Favorable operating leases 1-19 years 21,629  Leases in place 1-8 years 10,474  Tradenames 2-9 years 82,000 1,000 Pharmacy prescription files 5-7 years 32,900 13,000 Non-compete agreement 2 years 10,000  Unfavorable operating leases 1-12 years (21,754 )  Total $ 945,249 $ 14,000 The Company incurred acquisition-related costs in conjunction with the Supervalu acquisition, which are quantified in Note 5Restructuring, Acquisition and Integration Related Expenses . The accompanying Consolidated Statements of Operations for fiscal 2019 include the results of operations of Supervalu since the October 22, 2018 acquisition date through August 3, 2019, which consisted of net sales from continuing operations of $11.40 billion . Supervalus net sales from discontinued operations for this time period are reported in Note 19Discontinued Operations The following table presents unaudited supplemental pro forma consolidated Net sales and Net (loss) income from continuing operations, as recast, based on the Companys historical reporting periods as if the acquisition of Supervalu had occurred as of July 30, 2017: (unaudited, in thousands, except per share data) August 3, 2019 As Recast (1) (53 weeks) July 28, 2018 As Recast (2) (52 weeks) Net sales $ 25,639,516 $ 25,189,850 Net (loss) income from continuing operations $ (225,544 ) $ 48,394 Basic net (loss) income from continuing operations per share $ (4.40 ) $ 0.96 Diluted net (loss) income from continuing operations per share $ (4.40 ) $ 0.95 (1) Includes 12 weeks of pro forma Supervalu results for the period ended September 8, 2018. (2) Includes 52 weeks of pro forma Supervalu results for the period ended July 28, 2018, including 19 weeks of pro forma Associated Grocers of Florida, Inc. results, which was acquired by Supervalu on December 8, 2017. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined companies would have been had the acquisitions occurred at the beginning of the periods being presented, nor are they indicative of future results of operations.