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Goodwill and Other Intangible Assets | 12 Months Ended
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Jan. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets [Text Block] | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and Intangible Assets Changes in the carrying amount of goodwill, intangible assets subject to amortization, consisting primarily of customer relationships, and indefinite-lived intangible assets, consisting of brands and distribution agreements, are presented in the following tables: Carrying amount of goodwill
(millions) | North America | Europe | Latin America | AMEA | Consoli- dated
December 29, 2018 | $ | 4,611 |  | $ | 346 |  | $ | 218 |  | $ | 875 |  | $ | 6,050 |
Divestiture | (191) |  | — |  | — |  | — |  | (191) |
Currency translation adjustment | 2 |  | 1 |  | (5) |  | 4 |  | 2 |
December 28, 2019 | $ | 4,422 |  | $ | 347 |  | $ | 213 |  | $ | 879 |  | $ | 5,861 |
Currency translation adjustment | 1 |  | 20 |  | (33) |  | (50) |  | (62) |
January 2, 2021 | $ | 4,423 |  | $ | 367 |  | $ | 180 |  | $ | 829 |  | $ | 5,799 |
Intangible assets subject to amortization
Gross carrying amount |  |  |  |  |
(millions) | North America | Europe | Latin America | AMEA | Consoli- dated
December 29, 2018 | $ | 74 |  | $ | 43 |  | $ | 63 |  | $ | 428 |  | $ | 608 |
Additions | 2 |  | — |  | — |  | — |  | 2 |
Divestiture | (12) |  | — |  | — |  | — |  | (12) |
Currency translation adjustment | — |  | (2) |  | (3) |  | 1 |  | (4) |
December 28, 2019 | $ | 64 |  | $ | 41 |  | $ | 60 |  | $ | 429 |  | $ | 594 |
Additions | 1 |  | — |  | — |  | — |  | 1 |
Currency translation adjustment | — |  | 1 |  | (13) |  | (39) |  | (51) |
January 2, 2021 | $ | 65 |  | $ | 42 |  | $ | 47 |  | $ | 390 |  | $ | 544 |
Accumulated Amortization |  |  |  |  |
December 29, 2018 | $ | 39 |  | $ | 20 |  | $ | 12 |  | $ | 16 |  | $ | 87 |
Amortization | 4 |  | 2 |  | 3 |  | 18 |  | 27 |
Divestiture | (12) |  | — |  | — |  | — |  | (12) |
Currency translation adjustment | — |  | (1) |  | — |  | — |  | (1) |
December 28, 2019 | $ | 31 |  | $ | 21 |  | $ | 15 |  | $ | 34 |  | $ | 101 |
Amortization (a) | 4 |  | 3 |  | 3 |  | 17 |  | 27 |
Currency translation adjustment | — |  | — |  | (3) |  | (4) |  | (7) |
January 2, 2021 | $ | 35 |  | $ | 24 |  | $ | 15 |  | $ | 47 |  | $ | 121 |
Intangible assets subject to amortization, net
December 29, 2018 | $ | 35 |  | $ | 23 |  | $ | 51 |  | $ | 412 |  | $ | 521 |
Additions | 2 |  | — |  | — |  | — |  | 2 |
Amortization | (4) |  | (2) |  | (3) |  | (18) |  | (27) |
Currency translation adjustment | — |  | (1) |  | (3) |  | 1 |  | (3) |
December 28, 2019 | $ | 33 |  | $ | 20 |  | $ | 45 |  | $ | 395 |  | $ | 493 |
Additions | 1 |  | — |  | — |  | — |  | 1 |
Amortization | (4) |  | (3) |  | (3) |  | (17) |  | (27) |
Currency translation adjustment | — |  | 1 |  | (10) |  | (35) |  | (44) |
January 2, 2021 | $ | 30 |  | $ | 18 |  | $ | 32 |  | $ | 343 |  | $ | 423 |
(a) The currently estimated aggregate amortization expense for each of the next five succeeding fiscal periods is approximately $28 million per year through 2025. Intangible assets not subject to amortization
(millions) | North America | Europe | Latin America | AMEA | Consoli- dated
December 29, 2018 | $ | 1,985 |  | $ | 401 |  | $ | 73 |  | $ | 381 |  | $ | 2,840 |
Additions | 18 |  | — |  | — |  | — |  | 18 |
Divestiture | (765) |  | — |  | — |  | — |  | (765) |
Currency translation adjustment | — |  | (9) |  | (3) |  | 2 |  | (10) |
December 28, 2019 | $ | 1,238 |  | $ | 392 |  | $ | 70 |  | $ | 383 |  | $ | 2,083 |
Divestiture | — |  | (3) |  | — |  | — |  | (3) |
Currency translation adjustment | — |  | 37 |  | (15) |  | (34) |  | (12) |
January 2, 2021 | $ | 1,238 |  | $ | 426 |  | $ | 55 |  | $ | 349 |  | $ | 2,068 |
Annual Impairment Testing At January 2, 2021, goodwill and other intangible assets amounted to $8.3 billion, consisting primarily of goodwill and brands. Within this total, approximately $2.1 billion of non-goodwill intangible assets were classified as indefinite-lived, including $1.7 billion related to trademarks, comprised principally of Pringles and cracker-related trademarks. The majority of all goodwill and other intangible assets are recorded in our North America reporting unit. The Company currently believes the fair value of goodwill and other intangible assets exceeds their carrying value and that those intangibles so classified will contribute indefinitely to cash flows. Through impairment testing performed during the fourth quarter of 2020, no heightened risk of impairment of individual intangible assets or reporting units was identified. Additionally, the Company has goodwill of $373 million at January 2, 2021 related to the RX reporting unit. In performing the quantitative test of goodwill for RX, fair value was determined based on a calculation which gave consideration to an income approach utilizing the discounted cash flow method and the market approach using the guideline public company and guideline transaction methods. The significant assumptions utilized within the RX discounted cash flow method are forecasted net sales and profitability growth and the discount rate. The Company determined the fair value of RX exceeds the carrying value and no heightened risk of impairment exists for the reporting unit. In the fourth quarter of 2020 management finalized a decision to reorganize part of its North America operating segment, including the RX reporting unit, effective at the beginning of fiscal 2021. The reorganization further integrates the RX business with the rest of the North American business and changes internal reporting provided to the segment manager. As a result of these changes, the Company has re-evaluated its North American reporting units and determined that effective at the beginning of fiscal 2021, the RX reporting unit will be combined with the North America reporting unit. The Company evaluated the related impacted reporting units for impairment on a before and after basis and concluded that the fair values of each reporting unit exceeded their carrying values.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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