Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 28, 2019

Business Acquisition [Line Items]

Assets and Liabilities Held for Sale by Major Class

Our assets and liabilities held for sale, by major class, were (in millions):

	September 28, 2019		December 29, 2018
ASSETS
Inventories	$	—	$	92
Property, plant and equipment, net	26		139
Goodwill	—		669
Intangible assets, net	9		437
Other	—		39
Total assets held for sale	$	35	$	1,376
LIABILITIES
Total liabilities held for sale	$	2	$	55

Primal Nutrition

Business Acquisition [Line Items]

Purchase Price Allocation to Assets Acquired and Liabilities Assumed

The final purchase price allocation to assets acquired and liabilities assumed in the Primal Acquisition was (in millions):

Cash	$	2
Other current assets	15
Identifiable intangible assets	66
Current liabilities	(6		)
Net assets acquired	77
Goodwill on acquisition	124
Total consideration	$	201

Purchase Price Allocation to Identifiable Intangible Assets Acquired

The purchase price allocation to identifiable intangible assets acquired in the Primal Acquisition was:

	Fair Value (in millions of dollars)		Weighted Average Life (in years)
Definite-lived trademarks	$	52.5	15
Customer-related assets	13.5		20
Total	$	66.0

Heinz India

Business Acquisition [Line Items]

Assets and Liabilities Held for Sale by Major Class

The components of the pre-tax gain were as follows (in millions):

Proceeds	$	655
Less investment in Heinz India	(355		)
Recognition of tax indemnification	(48		)
Other	(3		)
Pre-tax gain on sale of Heinz India	$	249

Canada Natural Cheese

Business Acquisition [Line Items]

Assets and Liabilities Held for Sale by Major Class

Proceeds	$	1,236
Less carrying value of Canada Natural Cheese net assets	(996		)
Other	1
Pre-tax gain resulting from Canada Natural Cheese Transaction	$	241