XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.25.3

GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
--- | ---
Sep. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The activity in goodwill by segment for the nine months ended September 28, 2025 was as follows:
|  | December 29, 2024 |  |  |  | Currency Translation |  | September 28, 2025
|  | (In thousands)
U.S. |  | $ | 41,936 |  |  |  |  | $ | — |  |  | $ | 41,936 |
Europe |  | 1,097,643 |  |  |  |  | 78,024 |  |  | 1,175,667 |
Mexico |  | 99,494 |  |  |  |  | 10,647 |  |  | 110,141 |
Total |  | $ | 1,239,073 |  |  |  |  | $ | 88,671 |  |  | $ | 1,327,744 |
Intangible assets consisted of the following:
|  | December 29, 2024 |  |  |  | Amortization |  | Currency Translation |  | September 28, 2025
|  | (In thousands)
Cost: |  |  |  |  |  |  |  |  |  |
Trade names not subject to amortization |  | $ | 569,357 |  |  |  |  | $ | — |  |  | $ | 39,716 |  |  | $ | 609,073 |
Trade names subject to amortization |  | 112,016 |  |  |  |  | — |  |  | 2,496 |  |  | 114,512 |
Customer relationships |  | 431,861 |  |  |  |  | — |  |  | 22,165 |  |  | 454,026 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |
Trade names |  | (61,527) |  |  |  |  | (2,962) |  |  | (505) |  |  | (64,994) |
Customer relationships |  | (245,473) |  |  |  |  | (21,805) |  |  | (10,475) |  |  | (277,753) |
Intangible assets, net |  | $ | 806,234 |  |  |  |  | $ | (24,767) |  |  | $ | 53,397 |  |  | $ | 834,864 |
Intangible assets are amortized over the estimated useful lives of the assets as follows:
Customer relationships | 3-18 years
Trade names subject to amortization | 15-20 years
On August 5, 2025, the Company effectively completed a reorganization within its Europe reportable segment resulting in a change in the composition of our reporting units. Prior to the reorganization, the reporting units were Fresh Pork/Lamb, Fresh Poultry, Food Service, Meals, and Brands & Snacking. Following the reorganization, the new reporting units are Fresh Pork/Lamb, Fresh Poultry, Food Service, and Added Value. No impairment was recognized in the third quarter of 2025 as a result of this reorganization. At September 28, 2025, the Company assessed if events or changes in circumstances indicated that any asset group-level carrying amounts of its intangible assets might not be recoverable. The Company will perform its annual tests of recoverability of all goodwill and trade names not subject to amortization in the fourth quarter of 2025, which if there were to be an impairment, could be material.

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://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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration