XML 29 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Goodwill And Intangible Assets | 12 Months Ended
--- | ---
Oct. 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill And Intangible Assets | GOODWILL AND INTANGIBLE ASSETS The following table reflects goodwill activity for fiscal 2020 and 2019 (in millions):
| Beef |  |  | Pork |  |  | Chicken |  |  | Prepared Foods |  |  | International/Other |  |  | Unallocated |  |  | Consolidated |
Balance at September 29, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | $ | 1,236 |  |  | $ | 423 |  |  | $ | 2,498 |  |  | $ | 6,142 |  |  | $ | 57 |  |  | $ | — |  |  | $ | 10,356 |
Accumulated impairment losses | (560 | ) |  | — |  |  | — |  |  | — |  |  | (57 | ) |  | — |  |  | (617 | )
| $ | 676 |  |  | $ | 423 |  |  | $ | 2,498 |  |  | $ | 6,142 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,739 |
Fiscal 2019 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition | $ | — |  |  | $ | — |  |  | $ | 779 |  |  | $ | — |  |  | $ | 342 |  |  | $ | — |  |  | $ | 1,121 |
Measurement period adjustments | — |  |  | — |  |  | 66 |  |  | — |  |  | — |  |  | — |  |  | 66 |
Reclass to assets held for sale | — |  |  | — |  |  | (70 | ) |  | (7 | ) |  | — |  |  | — |  |  | (77 | )
Currency translation and other | — |  |  | — |  |  | 1 |  |  | (1 | ) |  | (5 | ) |  | — |  |  | (5 | )
Balance at September 28, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 1,236 |  |  | 423 |  |  | 3,274 |  |  | 6,134 |  |  | 394 |  |  | — |  |  | 11,461 |
Accumulated impairment losses | (560 | ) |  | — |  |  | — |  |  | — |  |  | (57 | ) |  | — |  |  | (617 | )
| $ | 676 |  |  | $ | 423 |  |  | $ | 3,274 |  |  | $ | 6,134 |  |  | $ | 337 |  |  | $ | — |  |  | $ | 10,844 |
Fiscal 2020 Activity: |  |  |  |  |  |  |  |  |  |  |  |  |
Measurement period adjustments | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 46 |  |  | $ | — |  |  | $ | 46 |
Currency translation and other | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |  |  | 9 |
Balance at October 03, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 1,236 |  |  | 423 |  |  | 3,274 |  |  | 6,134 |  |  | 449 |  |  | — |  |  | 11,516 |
Accumulated impairment losses | (560 | ) |  | — |  |  | — |  |  | — |  |  | (57 | ) |  | — |  |  | (617 | )
| $ | 676 |  |  | $ | 423 |  |  | $ | 3,274 |  |  | $ | 6,134 |  |  | $ | 392 |  |  | $ | — |  |  | $ | 10,899 |
The following table reflects intangible assets by type at October 3, 2020, and September 28, 2019 (in millions):
| 2020 |  |  | 2019 |
Amortizable intangible assets: |  |  |
Brands and trademarks | $ | 951 |  |  | $ | 945 |
Customer relationships | 2,388 |  |  | 2,389 |
Supply Arrangements | 310 |  |  | 310 |
Patents, intellectual property and other | 44 |  |  | 34 |
Land use rights | 8 |  |  | 8 |
Total gross amortizable intangible assets | $ | 3,701 |  |  | $ | 3,686 |
Less accumulated amortization | 1,005 |  |  | 727 |
Total net amortizable intangible assets | $ | 2,696 |  |  | $ | 2,959 |
Brands and trademarks not subject to amortization | 4,078 |  |  | 4,078 |
Total intangible assets | $ | 6,774 |  |  | $ | 7,037 |
Amortization expense of $278 million, $267 million and $210 million was recognized during fiscal 2020, 2019 and 2018, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to October 3, 2020, will be: 2021 - $261 million; 2022 - $247 million; 2023 - $228 million; 2024 - $223 million; 2025 - $214 million.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration