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GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS | 12 Months Ended
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May 29, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS | GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS The change in the carrying amount of goodwill for fiscal 2016 and 2015 was as follows:
| Consumer Foods |  | Commercial Foods |  | Total
Balance as of May 25, 2014 | $ | 3,850.9 |  |  | $ | 697.7 |  |  | $ | 4,548.6 |
Impairment | (20.9 | ) |  | — |  |  | (20.9 | )
Acquisitions | 20.0 |  |  | 23.8 |  |  | 43.8 |
Currency translation and purchase accounting adjustments | (25.4 | ) |  | (1.5 | ) |  | (26.9 | )
Balance as of May 31, 2015 | $ | 3,824.6 |  |  | $ | 720.0 |  |  | $ | 4,544.6 |
Currency translation | (9.8 | ) |  | (1.0 | ) |  | (10.8 | )
Balance as of May 29, 2016 | $ | 3,814.8 |  |  | $ | 719.0 |  |  | $ | 4,533.8 |
Other identifiable intangible assets were as follows:
| 2016 |  | 2015
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Non-amortizing intangible assets | $ | 857.9 |  |  | $ | — |  |  | $ | 915.4 |  |  | $ | — |
Amortizing intangible assets | 584.0 |  |  | 165.1 |  |  | 489.6 |  |  | 132.5 |
| $ | 1,441.9 |  |  | $ | 165.1 |  |  | $ | 1,405.0 |  |  | $ | 132.5 |
During fiscal 2015, we recorded charges totaling $20.9 million for the impairment of goodwill in the portion of the business we retained from the Private Brands segment that is now included in the Grocery reporting unit of the Consumer Foods segment. During fiscal 2014, we recorded a $9.0 million charge for the impairment of goodwill in the portion of the business we retained from the Private Brands segment that is now included in our Grocery reporting unit of the Consumer Foods segment. In fiscal 2016, we elected to perform a quantitative impairment test for indefinite lived intangibles.During fiscal 2016, we recognized impairment charges of $50.1 million in our Consumer Foods segment for our Chef Boyardee® brand. In fiscal 2015 and 2014, we also elected to perform a quantitative impairment test for indefinite lived intangibles. During fiscal 2015, we recognized impairment charges of $4.8 million in our Consumer Foods segment for our Poppycock® brand. During fiscal 2014, we recognized impairment charges of $72.7 million in our Consumer Foods segment, primarily for our Chef Boyardee® brand. We also recognized a $3.2 million impairment charge for an amortizable technology license in Corporate expenses in fiscal 2014. See Note 6 for a discussion of impairments related to discontinued operations. Amortizing intangible assets, carrying a remaining weighted average life of approximately 16 years, are principally composed of customer relationships, licensing arrangements, and intellectual property. For fiscal 2016, 2015, and 2014, we recognized amortization expense of $36.7 million, $28.8 million, and $28.9 million, respectively. Based on amortizing assets recognized in our Consolidated Balance Sheet as of May 29, 2016, amortization expense is estimated to average $35.6 million for each of the next five years, with a high expense of $36.8 million in fiscal year 2017 and decreasing to a low expense of $34.8 million in fiscal year 2021. In the first quarter of fiscal 2016, we entered into an agreement for the use of certain intellectual property and recorded an amortizing intangible asset of $92.8 million, of which only $10.4 million was a cash payment made in the first quarter of fiscal 2016. Remaining payments will be made over a six-year period.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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