GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jul. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill: The changes in the carrying amounts of goodwill for the thirteen and thirty-nine weeks ended July 25, 2021, are:


(in thousands)	Grocery Products		Refrigerated Foods		Jennie-O Turkey Store		International & Other		Total
Balance at April 25, 2021	$	632,301	$	1,607,005	$	176,628	$	198,102	$	2,614,036
Goodwill Acquired(1)	1,878,660		353,135		—		55,137		2,286,932
Foreign Currency Translation	—		—		—		6,105		6,105
Balance at July 25, 2021	$	2,510,961	$	1,960,140	$	176,628	$	259,344	$	4,907,073
(in thousands)	Grocery Products		Refrigerated Foods		Jennie-O Turkey Store		International & Other		Total
Balance at October 25, 2020	$	632,301	$	1,607,005	$	176,628	$	196,793	$	2,612,727
Goodwill Acquired(1)	1,878,660		353,135		—		55,137		2,286,932
Foreign Currency Translation	—		—		—		7,415		7,415
Balance at July 25, 2021	$	2,510,961	$	1,960,140	$	176,628	$	259,344	$	4,907,073

(1) Represents preliminary allocation of goodwill to reportable segments. See additional details regarding the acquisition in Note B - Acquisitions and Divestitures.

Intangible Assets: The carrying amounts for indefinite-lived intangible assets are:


(in thousands)	July 25, 2021		October 25, 2020
Brands/Tradenames/Trademarks	$	1,700,190	$	953,190
Other Intangibles	184		184
Foreign Currency Translation	(5,766)		(6,923)
Total	$	1,694,609	$	946,452

The increase in Brands/Tradenames/Trademarks represents the estimated fair value of indefinite-lived assets acquired as part of the acquisition of the Planters® snack nuts business and is preliminary pending final purchase accounting adjustments. See Note B - Acquisitions and Divestitures.

The gross carrying amount and accumulated amortization for definite-lived intangible assets are:


	July 25, 2021					October 25, 2020
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Weighted Ave Life (In Years)	Gross Carrying Amount		Accumulated Amortization		Weighted Ave Life (In Years)
Customer Lists/Relationships	$	168,239	$	(53,409)	12.7	$	117,239	$	(45,996)	12.2
Other Intangibles	60,241		(7,211)		13.8	60,631		(4,298)		13.8
Tradenames/Trademarks	10,536		(5,125)		4.9	10,536		(3,518)		4.9

Foreign Currency Translation	—		(4,165)		—	—		(4,760)		—
Total	$	239,016	$	(69,910)	12.7	$	188,406	$	(58,572)	12.3

The increase in Customer Lists/Relationships represents the estimated fair value of definite-lived assets acquired as part of the acquisition of the Planters® snack nuts business and is preliminary pending final purchase accounting adjustments. See Note B - Acquisitions and Divestitures.

Amortization expense was $4.4 million and $12.3 million for the thirteen and thirty-nine weeks ended July 25, 2021, respectively, compared to $4.1 million and $10.3 million for the thirteen and thirty-nine weeks ended July 26, 2020.

Estimated annual amortization expense for the five fiscal years after October 25, 2020, is as follows:


(in thousands)
2021	$	17,948
2022	19,680
2023	18,775
2024	16,691
2025	15,075