XML 157 R10.htm IDEA: XBRL DOCUMENT
v3.23.1

GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
--- | ---
Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE B - GOODWILL AND INTANGIBLE ASSETS Goodwill: In the first quarter of fiscal 2023, as a result of the organizational changes referenced in Note A - Summary of Significant Accounting Policies, the Company conducted an assessment of its operating segments and reporting units. Based on this analysis, goodwill was reallocated using the relative fair value approach. The change in the carrying amount of goodwill for the six months ended April 30, 2023, is:
in thousands | Retail |  | Foodservice |  | International |  | Total
Balance at October 30, 2022 | $ | 2,916,796 |  |  | $ | 1,750,594 |  |  | $ | 258,440 |  |  | $ | 4,925,829 |
Foreign Currency Translation | — |  |  | — |  |  | 4,052 |  |  | 4,052 |
Balance at April 30, 2023 | $ | 2,916,796 |  |  | $ | 1,750,594 |  |  | $ | 262,492 |  |  | $ | 4,929,881 |
Intangible Assets: The carrying amounts for indefinite-lived intangible assets are:
in thousands | April 30, 2023 |  | October 30, 2022
Brands/Tradenames/Trademarks | $ | 1,665,190 |  |  | $ | 1,665,190 |
Other Intangibles | 184 |  |  | 184 |
Foreign Currency Translation | (5,954) |  |  | (6,599) |
Total | $ | 1,659,420 |  |  | $ | 1,658,775 |
The gross carrying amount and accumulated amortization for definite-lived intangible assets are:
| April 30, 2023 |  |  |  | October 30, 2022
in thousands | Gross Carrying Amount |  | Accumulated Amortization |  |  |  | Gross Carrying Amount |  | Accumulated Amortization |  |
Customer Lists/Relationships | $ | 168,239 |  |  | $ | (76,217) |  |  |  |  | $ | 168,239 |  |  | $ | (69,779) |  |  |
Other Intangibles | 59,241 |  |  | (13,731) |  |  |  |  | 59,241 |  |  | (11,606) |  |  |
Tradenames/Trademarks | 6,540 |  |  | (4,470) |  |  |  |  | 10,536 |  |  | (7,828) |  |  |
Foreign Currency Translation | — |  |  | (4,354) |  |  |  |  | — |  |  | (4,551) |  |  |
Total | $ | 234,020 |  |  | $ | (98,772) |  |  |  |  | $ | 238,016 |  |  | $ | (93,764) |  |  |
Amortization expense is as follows:
| Quarter Ended |  |  |  | Six Months Ended
in thousands | April 30, 2023 |  | May 1, 2022 |  |  |  | April 30, 2023 |  | May 1, 2022 |  |
Amortization Expense | $ | 4,594 |  |  | $ | 4,824 |  |  |  |  | $ | 9,201 |  |  | $ | 9,636 |  |  |
Estimated annual amortization expense for the five fiscal years after October 30, 2022, is as follows:
in thousands | Amortization Expense
2023 | $ | 18,320 |
2024 | 16,331 |
2025 | 14,628 |
2026 | 14,172 |
2027 | 13,940 |

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 https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration