Goodwill And Intangible Assets

6 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

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

	Meals & Beverages		Snacks		Total
Net balance at August 2, 2020	$	975	$	3,011	$	3,986
Foreign currency translation adjustment	5		—		5
Net balance at January 31, 2021	$	980	$	3,011	$	3,991

Intangible Assets

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

	January 31, 2021						August 2, 2020
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizable intangible assets
Customer relationships	$	851	$	(133)	$	718	$	851	$	(112)	$	739
Non-amortizable intangible assets
Trademarks					2,611						2,611
Total net intangible assets					$	3,329					$	3,350

Non-amortizable intangible assets consist of trademarks. As of January 31, 2021, trademarks primarily included $1,978 associated with Snyder's-Lance. Of the carrying values of all indefinite-lived trademarks, $620 related to the Snyder's of Hanover trademark, $292 related to the Pace trademark, and $280 related to the Pacific Foods trademark.

Amortization of intangible assets in Earnings from continuing operations was $21 and $22 for the six-month periods ended January 31, 2021, and January 26, 2020, respectively. As of January 31, 2021, amortizable intangible assets had a weighted-average remaining useful life of 18 years. Amortization expense for the next 5 years is estimated to be approximately $42 per year.