Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 28, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill for the fiscal years ended October 28, 2018, and October 29, 2017, are presented in the table below. Additions relate to the acquisitions of Columbus on November 27, 2017, for fiscal 2018 and the acquisitions of Fontanini on August 16, 2017, and Ceratti on August 22, 2017, for fiscal 2017. The reduction during fiscal 2017 is due to the sale of Clougherty Packing, LLC, parent company of Farmer John and Saag’s Specialty Meats, along with PFFJ, LLC, farm operations in California, Arizona, and Wyoming (Farmer John) on January 3, 2017. See additional discussion regarding the Company’s assets held for sale in Note E.

(in thousands)	Grocery Products		Refrigerated Foods			Jennie-O Turkey Store		International & Other			Total
Balance as of October 30, 2016	$	882,582	$	584,443		$	203,214	$	164,258		$	1,834,497
Goodwill acquired	—		223,082			—		74,060			297,142
Goodwill sold	—		(11,826		)	—		—			(11,826		)
Balance as of October 29, 2017	$	882,582	$	795,699		$	203,214	$	238,318		$	2,119,813
Goodwill acquired	—		610,602			—		—			610,602
Foreign currency translation	—		—			—		(20,224		)	(20,224		)
Purchase adjustments	—		596			—		3,329			3,925
Balance as of October 28, 2018	$	882,582	$	1,406,897		$	203,214	$	221,423		$	2,714,116

Schedule of gross carrying amount and accumulated amortization for definite-lived intangible assets

The gross carrying amount and accumulated amortization for definite-lived intangible assets are presented in the table below. In fiscal 2018, customer relationships of $29.4 million were acquired related to Columbus. In fiscal 2017, customer relationships of $13.1 million were acquired related to Ceratti and $10.0 million were acquired related to Fontanini. Once fully amortized, the definite-lived intangible assets are removed from the table. 

	October 28, 2018						October 29, 2017
	Gross					Weighted-	Gross					Weighted-
	Carrying		Accumulated			Avg Life	Carrying		Accumulated			Avg Life
(in thousands)	Amount		Amortization			(in Years)	Amount		Amortization			(in Years)
Customer lists/relationships	$	137,039	$	(36,367	)	12.4	$	115,940	$	(25,767	)	12.3
Other intangibles	6,155		(1,547		)	6.4	3,100		(2,044		)	5.8
Formulas and recipes	—		—			—	1,950		(1,950		)	10.0
Foreign currency translation	—		(2,883		)	—	—		(206		)	—
Total	$	143,194	$	(40,797	)	12.2	$	120,990	$	(29,967	)	12.1

Schedule of amortization expense

Amortization expense for the last three fiscal years was as follows:

(in millions)
2018	$	12.7
2017	8.4
2016	8.4

Schedule of estimated annual amortization expense

Estimated annual amortization expense for the five fiscal years after October 28, 2018, is as follows: 

(in millions)
2019	$	12.6
2020	12.6
2021	12.7
2022	12.4
2023	11.6

Schedule of carrying amounts for indefinite-lived intangible assets

The carrying amounts for indefinite-lived intangible assets are in the following table. The increases largely represent the fair value of trademarks acquired with Columbus of $193.0 million in fiscal 2018. Fiscal 2017 additions included the trademarks acquired with Ceratti and Fontanini of $15.9 million and $100.4 million, respectively. 

	October 28,			October 29,
(in thousands)	2018			2017
Brands/tradenames/trademarks	$	1,108,122		$	935,816
Other intangibles	184			184
Foreign currency translation	(3,484		)	(9		)
Total	$	1,104,822		$	935,991