Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 25, 2020

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 25, 2020, and October 27, 2019, are:

(in thousands)	Grocery Products		Refrigerated Foods		Jennie-O Turkey Store		International & Other		Total
Reported Balance at October 28, 2018	$	882,582	$	1,406,897	$	203,214	$	221,423	$	2,714,116
Segment Reclassification	(25,209)		51,795		(26,586)		—		—
Adjusted Balance at October 28, 2018	$	857,373	$	1,458,692	$	176,628	$	221,423	$	2,714,116
Goodwill Sold	(225,072)		—		—		(4,945)		(230,017)
Foreign Currency Translation	—		—		—		(2,454)		(2,454)
Balance at October 27, 2019	$	632,301	$	1,458,692	$	176,628	$	214,024	$	2,481,645
Goodwill Acquired	—		148,313		—		—		148,313
Foreign Currency Translation	—		—		—		(17,232)		(17,232)
Balance as of October 25, 2020	$	632,301	$	1,607,005	$	176,628	$	196,793	$	2,612,727

Schedule of carrying amounts for indefinite-lived intangible assets

The carrying amounts for indefinite-lived intangible assets are:

	October 25,		October 27,
(in thousands)	2020		2019
Brands/Tradenames/Trademarks	$	953,190	$	959,400
Other Intangibles	184		184
Foreign Currency Translation	(6,923)		(3,803)
Total	$	946,452	$	955,781

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:

	October 25, 2020					October 27, 2019
	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	$	117,239	$	(45,996)	12.2	$	113,739	$	(36,744)	12.7
Other Intangibles	60,631		(4,298)		13.8	6,957		(2,817)		6.3
Tradenames/Trademarks	10,536		(3,518)		4.9	—		—		—
Foreign Currency Translation	—		(4,760)		—	—		(3,054)		—
Total	$	188,406	$	(58,572)	12.3	$	120,696	$	(42,615)	12.2

Schedule of amortization expense

Amortization expense for the last three fiscal years was:

(in thousands)
2020	$	14,251
2019	11,586
2018	12,653

Schedule of estimated annual amortization expense

Estimated annual amortization expense for the five fiscal years after October 25, 2020, is as follows: 

(in thousands)
2021	$	16,477
2022	16,037
2023	15,132
2024	13,048
2025	11,432