Goodwill and Other Intangible Assets

6 Months Ended

Jun. 27, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and other intangible assets

Goodwill and Other intangible assets

Goodwill and Intangible Assets

Changes in the carrying amount of goodwill, intangible assets subject to amortization, consisting primarily of customer relationships, and indefinite-lived intangible assets, consisting of brands and distribution agreements, are presented in the following tables:

Carrying amount of goodwill

(millions)	North America		Europe		Latin America		AMEA		Consoli- dated
December 28, 2019	$	4,422	$	347	$	213	$	879	$	5,861
Currency translation adjustment	(2)		(8)		(43)		(40)		(93)
June 27, 2020	$	4,420	$	339	$	170	$	839	$	5,768

Intangible assets subject to amortization

Gross carrying amount
(millions)	North America		Europe		Latin America		AMEA		Consoli- dated
December 28, 2019	$	64	$	41	$	60	$	429	$	594
Currency translation adjustment	—		—		(15)		(26)		(41)
June 27, 2020	$	64	$	41	$	45	$	403	$	553
Accumulated Amortization
December 28, 2019	$	31	$	21	$	15	$	34	$	101
Amortization	2		3		1		8		14
Currency translation adjustment	—		—		(3)		(2)		(5)
June 27, 2020	$	33	$	24	$	13	$	40	$	110
Intangible assets subject to amortization, net
December 28, 2019	$	33	$	20	$	45	$	395	$	493
Amortization	(2)		(3)		(1)		(8)		(14)
Currency translation adjustment	—		—		(12)		(24)		(36)
June 27, 2020	$	31	$	17	$	32	$	363	$	443

For intangible assets in the preceding table, amortization was $14 million for each of the year-to-date periods ended June 27, 2020 and June 29, 2019. The currently estimated aggregate annual amortization expense for full-year 2020 is approximately $28 million.

Intangible assets not subject to amortization

(millions)	North America		Europe		Latin America		AMEA		Consoli- dated
December 28, 2019	$	1,238	$	392	$	70	$	383	$	2,083
Currency translation adjustment	—		2		(19)		(23)		(40)
June 27, 2020	$	1,238	$	394	$	51	$	360	$	2,043