GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Jan. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill: The changes in the carrying amounts of goodwill for the quarter ended January 30, 2022, are:

in thousands	Grocery Products		Refrigerated Foods		Jennie-O Turkey Store		International & Other		Total
Balance at October 31, 2021	$	2,398,354	$	2,094,421	$	176,628	$	259,699	$	4,929,102
Foreign Currency Translation	—		—		—		(962)		(962)
Balance at January 30, 2022	$	2,398,354	$	2,094,421	$	176,628	$	258,737	$	4,928,139

Intangible Assets: The carrying amounts for indefinite-lived intangible assets are:

in thousands	January 30, 2022		October 31, 2021
Brands/Tradenames/Trademarks	$	1,665,190	$	1,665,190
Other Intangibles	184		184
Foreign Currency Translation	(6,857)		(6,646)
Total	$	1,658,517	$	1,658,728

The gross carrying amount and accumulated amortization for definite-lived intangible assets are:

	January 30, 2022				October 31, 2021
in thousands	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer Lists/Relationships	$	168,239	$	(60,092)	$	168,239	$	(56,882)
Other Intangibles	59,241		(8,418)		60,241		(8,356)
Tradenames/Trademarks	10,536		(6,237)		10,536		(5,700)
Foreign Currency Translation	—		(4,620)		—		(4,534)
Total	$	238,016	$	(79,368)	$	239,016	$	(75,471)

Amortization expense was $4.8 million for the quarter ended January 30, 2022, compared to $4.0 million for the quarter ended January 24, 2021.

Estimated annual amortization expense for the five fiscal years after October 31, 2021, is as follows:

in thousands	Amortization Expense
2022	$	19,244
2023	18,351
2024	16,352
2025	14,627
2026	14,170