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Goodwill And Other Intangible Assets
 6 Months Ended
Nov. 27, 2022
Goodwill And Other Intangible Assets [Abstract]  
Goodwill And Other Intangible Assets
(4) Goodwill and Other Intangible Assets
The components of goodwill and other intangible assets are as follows:
In Millions
Nov. 27, 2022
May 29, 2022
Goodwill
$
14,476.0
$
14,378.5
Other intangible assets:
Intangible assets not subject to amortization:
Brands and other indefinite-lived intangibles
6,706.6
6,725.8
Intangible assets subject to amortization:
Customer relationships and other finite-lived intangibles
401.9
400.3
Less accumulated amortization
(133.7)
(126.2)
Intangible assets subject to amortization, net
268.2
274.1
Other intangible assets
6,974.8
6,999.9
Total
$
21,450.8
$
21,378.4
Based
 
on
 
the carrying
 
value
 
of
 
finite-lived
 
intangible
 
assets as
 
of
 
November
 
27,
 
2022,
 
annual
 
amortization
 
expense
 
for
 
each of
 
the
next five fiscal years is estimated to be approximately $
20
 
million.
The changes in the carrying amount of goodwill during the six-month period
 
ended November 27, 2022, were as follows:
In Millions
North
America
Retail
Pet
North
America
Foodservice
International
Joint Ventures
Total
Balance as of May 29, 2022
$
6,552.9
$
6,062.8
$
648.8
$
721.6
$
392.4
$
14,378.5
Acquisition
-
-
154.3
-
-
154.3
Divestiture
-
-
-
(0.4)
-
(0.4)
Other activity, primarily
 
 
foreign currency translation
(6.4)
-
-
(37.5)
(12.5)
(56.4)
Balance as of Nov. 27, 2022
$
6,546.5
$
6,062.8
$
803.1
$
683.7
$
379.9
$
14,476.0
The changes in the carrying amount of other intangible assets during the six-month
 
period ended November 27, 2022, were as follows:
In Millions
Total
Balance as of May 29, 2022
$
6,999.9
Acquisition
3.8
Other activity, primarily
 
foreign currency translation
(28.9)
Balance as of Nov. 27, 2022
$
6,974.8
Our
 
annual
 
goodwill
 
and
 
indefinite-lived
 
intangible
 
assets
 
impairment
 
test
 
was
 
performed
 
on
 
the
 
first
 
day
 
of
 
the
 
second
 
quarter
 
of
fiscal
 
2023,
 
and
 
we
 
determined
 
there
 
was
no
 
impairment
 
of
 
our
 
intangible
 
assets
 
as
 
their
 
related
 
fair
 
values
 
were
 
substantially
 
in
excess of the
 
carrying values,
 
except for
 
the
Uncle Toby’s
 
brand intangible
 
asset. In addition,
 
while having
 
significant coverage
 
as of
our fiscal 2023
 
assessment date, the
Progresso
 
and
EPIC
 
brand intangible assets
 
had risk of decreasing
 
coverage. We
 
will continue to
monitor these businesses for potential impairment.