Goodwill And Intangible Assets

9 Months Ended

Apr. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table shows the changes in the carrying amount of goodwill by business segment:


	Meals & Beverages		Snacks		Total




Net balance at July 28, 2019	$	977	$	3,040	$	4,017

Divestiture⁽¹⁾	—		(34)		(34)

Foreign currency translation adjustment	(6)		4		(2)
Net balance at April 26, 2020	$	971	$	3,010	$	3,981

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⁽¹⁾On October 11, 2019, we completed the sale of our European chips business. See Note 3 for additional information.

Intangible Assets

The following table sets forth balance sheet information for intangible assets, excluding goodwill, subject to amortization and intangible assets not subject to amortization:


				April 26, 2020											July 28, 2019
Intangible Assets	Estimated Useful Lives							Cost		Accumulated Amortization	Net				Cost		Accumulated Amortization	Net
Amortizable intangible assets
Customer relationships	10	to	22	$	851	$	(100)	$	751		$	855	$	(70)	$	785
Other	1.5	to	20	14		(14)		—			14		(13)		1
Total amortizable intangible assets				$	865	$	(114)	$	751		$	869	$	(83)	$	786
Non-amortizable intangible assets
Trademarks								2,611							2,629
Total net intangible assets								$	3,362						$	3,415

Non-amortizable intangible assets consist of trademarks. As of April 26, 2020, trademarks primarily included $1,978 associated with Snyder's-Lance, $280 associated with Pacific Foods and $292 related to Pace. Other amortizable intangible assets consist of recipes, non-compete agreements, trademarks and patents.

Amortization of intangible assets in Earnings from continuing operations was $33 and $36 for the nine-month periods ended April 26, 2020, and April 28, 2019, respectively. Amortization expense for the next 5 years is estimated to be approximately $44 per year.

Amortization of intangible assets in Earnings (loss) from discontinued operations was $8 for the nine-month period ended April 28, 2019. See Note 3 for additional information on discontinued operations.