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GOODWILL AND INTANGIBLE ASSETS
9 Months Ended
Jul. 29, 2012
GOODWILL AND INTANGIBLE ASSETS  
GOODWILL AND INTANGIBLE ASSETS

NOTE C                GOODWILL AND INTANGIBLE ASSETS

 

The change in the carrying amount of goodwill for the nine months ended July 29, 2012, is presented in the table below.  There were no changes in the carrying amount during the third quarter of fiscal 2012.

 

 

(in thousands)

 

Grocery
Products

 

Refrigerated
Foods

 

JOTS

 

Specialty
Foods

 

All Other

 

Total

Balance as of
October 30, 2011

 

$

123,316

 

$

96,652

 

$

203,214

 

$

207,028

 

$

674

 

$

630,884

Goodwill acquired

 

-

 

(9)

 

-

 

-

 

-

 

(9)

Balance as of
July 29, 2012

 

$

123,316

 

$

96,643

 

$

203,214

 

$

207,028

 

$

674

 

$

630,875

 

 

The gross carrying amount and accumulated amortization for definite-lived intangible assets are presented in the table below.

 

 

 

July 29, 2012

 

October 30, 2011

(in thousands)

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Gross Carrying
Amount

 

Accumulated
Amortization

Customer lists/relationships

 

$

22,148

 

$

(14,094)

 

$

22,378

 

$

(12,556)

Proprietary software & technology

 

22,000

 

(16,695)

 

22,000

 

(14,822)

Formulas & recipes

 

17,854

 

(11,151)

 

18,354

 

(10,047)

Distribution network

 

4,120

 

(3,680)

 

4,120

 

(3,371)

Other intangibles

 

9,260

 

(6,460)

 

14,030

 

(10,105)

Total

 

$

75,382

 

$

(52,080)

 

$

80,882

 

$

(50,901)

 

Amortization expense was $2.2 million and $6.7 million for the third quarter and nine months ended July 29, 2012, respectively, compared to $2.3 million and $7.2 million for the third quarter and nine months ended July 31, 2011.

 

Estimated annual amortization expense (in thousands) for the five fiscal years after October 30, 2011, is as follows:

 

Fiscal Year

 

Estimated
Amortization
Expense

2012

 

$  8,906

2013

 

7,699

2014

 

6,303

2015

 

3,192

2016

 

1,023

 

The carrying amounts for indefinite-lived intangible assets are presented in the table below.

 

(in thousands)

 

July 29, 2012

 

October 30, 2011

Brands/tradenames/trademarks

 

$

94,081

 

$

94,081

Other intangibles

 

7,984

 

7,984

Total

 

$

102,065

 

$

102,065