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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The activity in goodwill by segment for the nine months ended September 28, 2025 was as follows:
December 29, 2024Currency TranslationSeptember 28, 2025
(In thousands)
U.S.$41,936 $— $41,936 
Europe1,097,643 78,024 1,175,667 
Mexico99,494 10,647 110,141 
Total$1,239,073 $88,671 $1,327,744 
Intangible assets consisted of the following:
December 29, 2024AmortizationCurrency TranslationSeptember 28, 2025
(In thousands)
Cost:
Trade names not subject to amortization$569,357 $— $39,716 $609,073 
Trade names subject to amortization112,016 — 2,496 114,512 
Customer relationships431,861 — 22,165 454,026 
Accumulated amortization:
Trade names(61,527)(2,962)(505)(64,994)
Customer relationships(245,473)(21,805)(10,475)(277,753)
Intangible assets, net$806,234 $(24,767)$53,397 $834,864 
Intangible assets are amortized over the estimated useful lives of the assets as follows:
Customer relationships
3-18 years
Trade names subject to amortization
15-20 years
On August 5, 2025, the Company effectively completed a reorganization within its Europe reportable segment resulting in a change in the composition of our reporting units. Prior to the reorganization, the reporting units were Fresh Pork/Lamb, Fresh Poultry, Food Service, Meals, and Brands & Snacking. Following the reorganization, the new reporting units are Fresh Pork/Lamb, Fresh Poultry, Food Service, and Added Value. No impairment was recognized in the third quarter of 2025 as a result of this reorganization.
At September 28, 2025, the Company assessed if events or changes in circumstances indicated that any asset group-level carrying amounts of its intangible assets might not be recoverable. The Company will perform its annual tests of recoverability of all goodwill and trade names not subject to amortization in the fourth quarter of 2025, which if there were to be an impairment, could be material.