Goodwill and Intangible Assets (Tables)

12 Months Ended

Oct. 27, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in the carrying amount of goodwill

The change in the carrying amount of goodwill for the fiscal years ended October 27, 2024 and October 29, 2023, is:

In thousands	Grocery Products		Refrigerated Foods		Jennie-O Turkey Store		Retail		Foodservice		International		Total
Balance at October 30, 2022	$	2,398,354	$	2,094,421	$	176,628	$	—	$	—	$	256,427	$	4,925,829
Goodwill Reallocation	(2,398,354)		(2,094,421)		(176,628)		2,916,796		1,750,594		2,013		—
Foreign Currency Translation	—		—		—		—		—		2,635		2,635
Balance at October 29, 2023	$	—	$	—	$	—	$	2,916,796	$	1,750,594	$	261,074	$	4,928,464
Goodwill Sold	—		—		—		—		(2,239)		—		(2,239)
Foreign Currency Translation	—		—		—		—		—		(2,738)		(2,738)
Balance at October 27, 2024	$	—	$	—	$	—	$	2,916,796	$	1,748,355	$	258,336	$	4,923,487

Schedule of carrying amounts for indefinite-lived intangible assets

The carrying amounts for indefinite-lived intangible assets are:

In thousands	October 27, 2024		October 29, 2023
Brands/Trade Names/Trademarks	$	1,629,582	$	1,636,807
Other Intangibles	184		184
Foreign Currency Translation	(6,655)		(5,893)
Total Indefinite-lived Intangible Assets	$	1,623,112	$	1,631,098

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 27, 2024				October 29, 2023
In thousands	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer Relationships	$	168,239	$	(93,536)	$	168,239	$	(82,658)
Other Intangibles	59,241		(20,107)		59,241		(15,857)
Trade Names/Trademarks	6,210		(5,996)		6,540		(5,089)
Foreign Currency Translation	—		(4,458)		—		(4,344)
Total Definite-lived Intangible Assets	$	233,690	$	(124,097)	$	234,020	$	(107,947)

Schedule of amortization expense on intangible assets

Amortization expense on intangible assets for the last three fiscal years is as follows:

In thousands	Amortization Expense
2024	$	16,366
2023	18,386
2022	19,274

Schedule of estimated annual amortization expense on intangible assets

Estimated annual amortization expense on intangible assets for the five fiscal years after October 27, 2024, is as follows:

In thousands	Amortization Expense
2025	$	14,624
2026	14,169
2027	13,927
2028	12,972
2029	11,504