XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.21.2

GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS | 3 Months Ended
--- | ---
Aug. 29, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS | 5. GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS The change in the carrying amount of goodwill for the first quarter of fiscal 2022 was as follows:
|  | Grocery & Snacks |  |  | Refrigerated & Frozen |  |  | International |  |  | Foodservice |  |  | Total |
Balance as of May 30, 2021 |  | $ | 4,698.2 |  |  | $ | 5,625.1 |  |  | $ | 302.5 |  |  | $ | 747.7 |  |  | $ | 11,373.5 |
Currency translation |  |  | — |  |  |  | — |  |  |  | (4.3 | ) |  |  | — |  |  |  | (4.3 | )
Balance as of August 29, 2021 |  | $ | 4,698.2 |  |  | $ | 5,625.1 |  |  | $ | 298.2 |  |  | $ | 747.7 |  |  | $ | 11,369.2 |
Other identifiable intangible assets were as follows:
|  | August 29, 2021 |  |  | May 30, 2021 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |
Non-amortizing intangible assets |  | $ | 3,300.0 |  |  | $ | — |  |  | $ | 3,301.2 |  |  | $ | — |
Amortizing intangible assets |  |  | 1,234.1 |  |  |  | 393.4 |  |  |  | 1,235.3 |  |  |  | 378.9 |
|  | $ | 4,534.1 |  |  | $ | 393.4 |  |  | $ | 4,536.5 |  |  | $ | 378.9 |
Non-amortizing intangible assets are composed of brands and trademarks. Amortizing intangible assets, carrying a remaining weighted average life of approximately 19 years, are principally composed of customer relationships and acquired intellectual property. Amortization expense was $14.9 million for the first quarter of both fiscal 2022 and 2021. Based on amortizing assets recognized in our Condensed Consolidated Balance Sheet as of August 29, 2021, amortization expense is estimated to average $52.8 million for each of the next five years.

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