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Goodwill And Intangible Assets | 12 Months Ended
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Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | GOODWILL AND INTANGIBLE ASSETS The following table reflects goodwill activity for fiscal years 2024 and 2023 (in millions):
| Beef |  | Pork |  | Chicken |  | Prepared Foods |  | International/Other |  | Consolidated
Balance at October 1, 2022 (a) | $ | 676 |  |  | $ | 423 |  |  | $ | 3,273 |  |  | $ | 5,784 |  |  | $ | 357 |  |  | $ | 10,513 |
Fiscal 2023 Activity: |  |  |  |  |  |  |  |  |  |  |
Acquisitions | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 118 |  |  | $ | 19 |  |  | $ | 137 |
Measurement period adjustments | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Impairment losses | (333) |  |  | — |  |  | (210) |  |  | — |  |  | (238) |  |  | (781) |
Currency translation | — |  |  | — |  |  | 1 |  |  | — |  |  | 6 |  |  | 7 |
Balance at September 30, 2023 (a) | $ | 343 |  |  | $ | 423 |  |  | $ | 3,064 |  |  | $ | 5,904 |  |  | $ | 144 |  |  | $ | 9,878 |
Fiscal 2024 Activity: |  |  |  |  |  |  |  |  |  |  |
Measurement period adjustments | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (13) |  |  | $ | — |  |  | $ | (13) |
Sale of business | — |  |  | — |  |  | (63) |  |  | — |  |  | — |  |  | (63) |
Currency translation | — |  |  | — |  |  | — |  |  | — |  |  | 17 |  |  | 17 |
Balance at September 28, 2024 (a) | $ | 343 |  |  | $ | 423 |  |  | $ | 3,001 |  |  | $ | 5,891 |  |  | $ | 161 |  |  | $ | 9,819 |
(a) Included in goodwill for fiscal 2024 and 2023 are accumulated impairment losses of $893 million in Beef, $210 million in Chicken and $295 million in International/Other. Included in goodwill as of October 1, 2022 are accumulated impairment losses of $560 million in Beef and $57 million in International/Other. The following table reflects intangible assets by type as of September 28, 2024 and September 30, 2023 (in millions):
| 2024 |  | 2023
Amortizable intangible assets: |  |  |
Brands and trademarks | $ | 995 |  |  | $ | 1,007 |
Customer relationships | 2,399 |  |  | 2,389 |
Supply arrangements | 310 |  |  | 310 |
Patents, intellectual property and other | 45 |  |  | 46 |
Land use rights | 9 |  |  | 9 |
Total gross amortizable intangible assets | $ | 3,758 |  |  | $ | 3,761 |
Less accumulated amortization | 1,961 |  |  | 1,741 |
Total net amortizable intangible assets | $ | 1,797 |  |  | $ | 2,020 |
Brands and trademarks not subject to amortization | 4,078 |  |  | 4,078 |
Total intangible assets | $ | 5,875 |  |  | $ | 6,098 |
Amortization expense of $229 million, $229 million and $246 million was recognized during fiscal 2024, 2023 and 2022, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to September 28, 2024, will be: 2025 - $240 million; 2026 - $207 million; 2027 - $196 million; 2028 - $188 million; 2029 - $175 million.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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