Goodwill And Intangible Assets

3 Months Ended

Oct. 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 1, 2021	$	970	$	3,011	$	3,981
Amounts reclassified due to segment change(1)	25		(25)		—
Foreign currency translation adjustment	1		—		1
Net balance at October 31, 2021	$	996	$	2,986	$	3,982

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(1) See Note 5 for additional information.

Intangible Assets

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

	October 31, 2021						August 1, 2021
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizable intangible assets
Customer relationships	$	830	$	(151)	$	679	$	830	$	(140)	$	690
Non-amortizable intangible assets
Trademarks					2,549						2,549
Total net intangible assets					$	3,228					$	3,239

As of October 31, 2021, the carrying value of indefinite-lived trademarks is detailed below:

	Various Other(1)		Snyder's of Hanover		Lance		Pace		Pacific Foods
Carrying value	$	1,007	$	620	$	350	$	292	$	280

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(1) Associated with the acquisition of Snyder's-Lance, Inc. (Snyder's-Lance).

Amortization of intangible assets was $11 and $10 for the three-month periods ended October 31, 2021, and November 1, 2020, respectively. As of October 31, 2021, amortizable intangible assets had a weighted-average remaining useful life of 17 years. Amortization expense for the next 5 years is estimated to be approximately $41 per year.