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Goodwill And Other Intangible Assets | 12 Months Ended
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Oct. 01, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Other Intangible Assets | GOODWILL AND INTANGIBLE ASSETS The following table reflects goodwill activity for fiscal 2016 and 2015:
in millions |
| Chicken |  |  | Beef |  |  | Pork |  |  | Prepared Foods |  |  | Other(a) |  |  | Unallocated |  |  | Consolidated |
Balance at September 27, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | $ | 907 |  |  | $ | 1,123 |  |  | $ | 317 |  |  | $ | 92 |  |  | $ | 57 |  |  | $ | 4,804 |  |  | $ | 7,300 |
Accumulated impairment losses | — |  |  | (560 | ) |  | — |  |  | — |  |  | (34 | ) |  | — |  |  | (594 | )
| 907 |  |  | 563 |  |  | 317 |  |  | 92 |  |  | 23 |  |  | 4,804 |  |  | 6,706 |
Fiscal 2015 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |
Measurement period adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (14 | ) |  | (14 | )
Allocation of acquired goodwill | 658 |  |  | 113 |  |  | 106 |  |  | 3,913 |  |  | — |  |  | (4,790 | ) |  | — |
Impairment losses | — |  |  | — |  |  | — |  |  | — |  |  | (23 | ) |  | — |  |  | (23 | )
Currency translation and other | (2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2 | )
Balance at October 3, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 1,563 |  |  | 1,236 |  |  | 423 |  |  | 4,005 |  |  | 57 |  |  | — |  |  | 7,284 |
Accumulated impairment losses | — |  |  | (560 | ) |  | — |  |  | — |  |  | (57 | ) |  | — |  |  | (617 | )
| $ | 1,563 |  |  | $ | 676 |  |  | $ | 423 |  |  | $ | 4,005 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,667 |
Fiscal 2016 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |
Currency translation and other | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Balance at October 1, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 1,565 |  |  | 1,236 |  |  | 423 |  |  | 4,005 |  |  | 57 |  |  | — |  |  | 7,286 |
Accumulated impairment losses | — |  |  | (560 | ) |  | — |  |  | — |  |  | (57 | ) |  | — |  |  | (617 | )
| $ | 1,565 |  |  | $ | 676 |  |  | $ | 423 |  |  | $ | 4,005 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,669 |
(a) Other included the goodwill from our foreign chicken operation. On August 28, 2014, we acquired and consolidated Hillshire Brands. The unallocated portion of goodwill at September 27, 2014, is attributable to our acquisition of Hillshire Brands. During fiscal 2015, we recorded measurement period adjustments, which reduced goodwill by $14 million and completed the allocation of goodwill to our segments (see Note 3: Acquisitions and Dispositions). The following table reflects intangible assets by type at October 1, 2016, and October 3, 2015:
in millions |
| 2016 |  |  | 2015 |
Amortizable intangible assets: |  |  |
Brands and trademarks | $ | 590 |  |  | $ | 594 |
Customer relationships | 564 |  |  | 564 |
Patents, intellectual property and other | 114 |  |  | 115 |
Land use rights | 9 |  |  | 9 |
Total gross amortizable intangible assets | $ | 1,277 |  |  | $ | 1,282 |
Less accumulated amortization | 271 |  |  | 192 |
Total net amortizable intangible assets | $ | 1,006 |  |  | $ | 1,090 |
Brands and trademarks not subject to amortization | 4,078 |  |  | 4,078 |
Total intangible assets | $ | 5,084 |  |  | $ | 5,168 |
Amortization expense of $80 million, $92 million and $26 million was recognized during fiscal 2016, 2015 and 2014, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to October 1, 2016, will be: 2017 - $78 million; 2018 - $76 million; 2019 - $72 million; 2020 - $69 million; 2021 - $66 million.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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