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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
 
The following table reflects our indefinite-lived intangible assets, including goodwill and our definite-lived intangible assets along with related accumulated amortization by major category (U.S. dollars in millions):

 
December 27, 2019
 
December 28, 2018
Goodwill
$
423.7

 
$
423.4

Indefinite-lived intangible assets:


 


Trademarks
31.7

 
31.9

Definite-lived intangible assets:


 


Definite-lived intangible assets
150.4

 
150.4

Accumulated amortization
(23.9
)
 
(15.4
)
Definite-lived intangible assets, net
126.5

 
135.0

Goodwill and other intangible assets, net
$
581.9

 
$
590.3



Indefinite-lived and definite-lived intangible assets are included in intangible assets, net, in the Consolidated Balance Sheets.

6. Goodwill and Other Intangible Assets (continued)

The following table reflects the changes in the carrying amount of goodwill by business segment (U.S. dollars in millions):

 
Bananas
 
Fresh and Value-Added Products
 
Totals
Balance at December 29, 2017
$
64.7

 
$
197.2

 
$
261.9

 
 
 
 
 
 
Foreign exchange and other
$
(0.2
)
 
$
(0.3
)
 
$
(0.5
)
Acquisition of Mann Packing(1)
$
—

 
$
162.0

 
$
162.0

Balance at December 28, 2018
$
64.5

 
$
358.9

 
$
423.4

 
 
 
 
 
 
Foreign exchange and other
$
(0.1
)
 
$
0.4

 
$
0.3

Balance at December 27, 2019
$
64.4

 
$
359.3

 
$
423.7

 

(1) See Note 4 "Acquisitions" for further discussion on acquisitions.

In the table above, goodwill is presented net of accumulated impairment losses of $88.1 million, relating strictly to the fresh and value-added products segment. There were no impairment charges recorded to goodwill during 2019.
6. Goodwill and Other Intangible Assets (continued)

Results of Impairment Tests

In accordance with the ASC guidance on “Goodwill and Other Intangible Assets,” we review goodwill for impairment on an annual basis or earlier if indicators of impairment arise.

During 2019, we evaluated both Del Monte® trade names and trademarks related to our prepared food reporting unit for impairment. Based on our review performed on the first day of our fourth quarter of 2019, we incurred an impairment charge of $0.3 million of our Del Monte® perpetual, royalty-free brand name license for beverage products in the United Kingdom due to the underperformance of our prepared ambient juice business. The fair value of the brand name license for beverage products is $0.8 million. The remaining Del Monte® trade names and trademarks were not impaired, see sensitivity disclosure below.

During 2018, also based on the annual impairment review of trade names and trademarks performed on the first day of our fourth quarter of 2018 and due to underperformance in our prepared food business in Europe, Middle East and North Africa, we incurred an impairment charge of $11.3 million for the prepared food segment's trade names and trademarks.

The fair value of the banana reporting unit's goodwill, prepared reporting unit's goodwill and the Del Monte® prepared food reporting unit’s trade names and trademarks are sensitive to differences between estimated and actual cash flows and changes in the related discount rate used to evaluate the fair value of these assets. If the banana and the prepared food reporting unit do not perform to expected levels, the banana goodwill and the Del Monte® trade names and trademarks associated with the prepared food reporting unit may also be at risk for impairment in the future.

The following table highlights the sensitivities of the indefinite-lived intangibles as of December 27, 2019 (U.S. dollars in millions):

 
Banana
Reporting Unit
Goodwill
 

Prepared Food Reporting Unit Goodwill
 

Prepared Food Reporting Unit 
Del Monte® 
Trade Names and Trademarks
Carrying value of indefinite-lived intangible assets
$
64.4

 
$
48.8

 
$
30.8

 
 
 
 
 
 
Approximate percentage by which the fair value exceeds the carrying value based on the annual impairment test as of first day of the fourth quarter
9.1
%
 
2.5
%
 
6.5
%
 
 
 
 
 
 
Amount that a one percentage point increase in the discount rate and a 5% decrease in cash flows would cause the carrying value to exceed the fair value and trigger an impairment
$
64.4

 
$
47.1

 
$
1.0












6. Goodwill and Other Intangible Assets (continued)

The estimated amortization expense related to definite-lived intangible assets for the five succeeding years is as follows (U.S. dollars in millions):
 
Year
Estimated Amortization Expense
2020
8.0
2021
7.8
2022
7.8
2023
6.9
2024
6.5