Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

Note 11 — Goodwill and Intangible Assets

Goodwill has been allocated to Dole’s reporting segments as follows:

	Fresh Fruit			Fresh Vegetables		Packaged Foods		Total
	(In thousands)
Balance as of January 2, 2010 and January 1, 2011	$	275,430		$	71,206	$	60,611	$	407,247
Additions		1,313			12,302		—		13,615
Disposals		(4,000	)		—		—		(4,000	)
Balance as of December 31, 2011	$	272,743		$	83,508	$	60,611	$	416,862

On October 11, 2011, Dole completed the acquisition of 100% of the capital stock of SunnyRidge in accordance with the Agreement and Plan of Merger, dated October 11, 2011. The acquisition resulted in goodwill of $12.3 million. Refer to Note 24 — Acquisition for further information.

During the fourth quarter of 2011, Dole Spain was sold to a subsidiary of CF. As a result of the sale, $4 million of goodwill associated with Dole Spain was written-off. Refer to Note 9 — Assets-Held-For-Sale for further information.

During the fourth quarter of 2011, Dole completed the acquisition of FaFi Fresh Cuts Oy (“FAFI”), a manufacturer of ready-for-use produce. FAFI is part of the European ripening and distribution business within the fresh fruit segment. The acquisition resulted in goodwill of $1.3 million.

Details of Dole’s intangible assets were as follows:

	December 31, 2011			January 1, 2011
	(In thousands)
Amortizable intangible assets:
Customer relationships	$	59,501		$	38,501
Other amortizable intangible assets		15,231			2,064
		74,732			40,565
Accumulated amortization — customer relationships		(31,755	)		(27,605	)
Other accumulated amortization		(579	)		(1,494	)
Accumulated amortization — intangible assets		(32,334	)		(29,099	)
Amortizable intangible assets, net		42,398			11,466
Indefinite-lived intangible assets:
Trademark and trade names		689,615			689,615
Total identifiable intangible assets, net	$	732,013		$	701,081

Amortization expense of intangibles totaled $4.5 million, $3.8 million and $3.8 million for the years ended December 31, 2011, January 1, 2011 and January 2, 2010, respectively.

As of December 31, 2011, the estimated remaining amortization expense associated with Dole’s intangible assets in each of the next five fiscal years was as follows (in thousands):

Fiscal Year	Amount
2012	$	7,280
2013	$	5,451
2014	$	4,795
2015	$	4,795
2016	$	4,319

Dole performed its annual impairment test of goodwill and indefinite-lived intangible assets during the second quarter of fiscal 2011. This test indicated no impairment to goodwill or any of Dole’s indefinite-lived intangible assets. As market conditions change, Dole continues to monitor and perform updates of its impairment testing of recoverability of goodwill and long-lived assets.