XML 16 R12.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Jan. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
 
Goodwill: The changes in the carrying amounts of goodwill for the three months ended January 26, 2020, are as follows:
(in thousands)
Grocery
Products
 
Refrigerated
Foods
 
Jennie-O
Turkey Store
 
International
& Other
 
Total
Balance at October 27, 2019
$
632,301

 
$
1,458,692

 
$
176,628

 
$
214,024

 
$
2,481,645

Foreign Currency Translation

 

 

 
2,443

 
2,443

Balance at January 26, 2020
$
632,301

 
$
1,458,692

 
$
176,628

 
$
216,467

 
$
2,484,088




Intangible Assets: The carrying amounts for indefinite-lived intangible assets are as follows:
(in thousands)
January 26,
2020
 
October 27,
2019
Brands/Tradenames/Trademarks
$
953,190

 
$
959,400

Other Intangibles
184

 
184

Foreign Currency Translation
(3,393
)
 
(3,803
)
Total
$
949,981

 
$
955,781



The gross carrying amount and accumulated amortization for definite-lived intangible assets are as follows:
 
January 26, 2020
 
October 27, 2019
(in thousands)
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Customer Lists/Relationships
$
113,739

 
$
(39,057
)
 
$
113,739

 
$
(36,744
)
Tradenames/Trademarks
10,536

 
(1,911
)
 
4,326

 
(1,589
)
Other Intangibles
2,631

 
(1,324
)
 
2,631

 
(1,228
)
Foreign Currency Translation

 
(2,791
)
 

 
(3,054
)
Total
$
126,906

 
$
(45,083
)
 
$
120,696

 
$
(42,615
)

 
Amortization expense was $2.7 million and $3.2 million for the three months ended January 26, 2020 and January 27, 2019, respectively.
 
Estimated annual amortization expense for the five fiscal years after October 27, 2019, is as follows:
(in thousands)
 

2020
$
11,700

2021
12,000

2022
11,644

2023
10,739

2024
8,921