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Goodwill and Other Intangible Assets
 12 Months Ended
Apr. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Note 7: Goodwill and Other Intangible Assets
A summary of changes in goodwill by reportable segment is as follows:
U.S. Retail
Pet Foods		U.S. Retail
Coffee		U.S. Retail
Consumer Foods		International
and Away
From Home		Total
Balance at May 1, 2018$1,824.5  $2,090.9  $1,600.4  $426.4  $5,942.2  
Acquisition617.8  —  —  —  617.8  
Divestiture—  —  (144.3) —  (144.3) 
Impairment charge (A)
—  —  (97.9) —  (97.9) 
Other (B)
—  —  —  (6.9) (6.9) 
Balance at April 30, 2019$2,442.3  $2,090.9  $1,358.2  $419.5  $6,310.9  
Other (B)
—  —  —  (6.4) (6.4) 
Balance at April 30, 2020$2,442.3  $2,090.9  $1,358.2  $413.1  $6,304.5  
(A)We have recognized accumulated goodwill impairment charges of $242.9 as of April 30, 2020.
(B)The amounts classified as other represent foreign currency exchange adjustments.
The following table summarizes our other intangible assets and related accumulated amortization and impairment charges, including foreign currency exchange adjustments.
  April 30, 2020April 30, 2019
  Acquisition
Cost		Accumulated
Amortization/
Impairment
Charges/
Foreign
Currency
Exchange		NetAcquisition
Cost		Accumulated
Amortization/
Impairment
Charges/
Foreign
Currency
Exchange		Net 
Finite-lived intangible assets subject to
  amortization:
Customer and contractual relationships$4,471.1  $1,353.0  $3,118.1  $4,471.1  $1,156.8  $3,314.3  
Patents and technology168.5  138.4  30.1  168.5  127.4  41.1  
Trademarks662.0  311.0  351.0  499.9  166.9  333.0  
Total intangible assets subject to amortization$5,301.6  $1,802.4  $3,499.2  $5,139.5  $1,451.1  $3,688.4  
Indefinite-lived intangible assets not subject to amortization:
Trademarks$3,158.1  $228.3  $2,929.8  $3,321.1  $290.7  $3,030.4  
Total other intangible assets$8,459.7  $2,030.7  $6,429.0  $8,460.6  $1,741.8  $6,718.8  
Amortization expense for finite-lived intangible assets was $235.3, $239.1, and $204.8 in 2020, 2019, and 2018, respectively. The weighted-average useful lives of the customer and contractual relationships, patents and technology, and trademarks are 24 years, 15 years, and 16 years, respectively. The weighted-average useful life of total finite-lived intangible assets is
23 years. Based on the carrying amount of intangible assets subject to amortization at April 30, 2020, the estimated amortization expense is $238.7 for 2021, $232.8 for 2022, $225.5 for 2023, $220.8 for 2024, and $217.3 for 2025.

We review goodwill and other indefinite-lived intangible assets at least annually on February 1 for impairment and more often if indicators of impairment exist.

During the third quarter of 2020, we began our annual planning cycle, which was not complete at the end of the quarter; however, certain brand-level decisions were made that we evaluated to determine whether the carrying value of certain indefinite-lived intangible assets more likely than not exceeded fair value. As a result, we recognized an impairment charge of $52.4 during the third quarter of 2020, related to the Natural Balance brand within the U.S. Retail Pet Foods segment due to a decline in current year and long-term net sales expectations and the royalty rate used in the interim analysis, primarily driven by the market environment and re-positioning of this brand within the Pet Foods brand portfolio. This charge was included as a noncash charge in our Statement of Consolidated Income. Additionally, we reassessed the long-term strategic expectations for the Natural Balance brand and reclassified this brand as a finite-lived intangible asset as of February 1, 2020.

As of February 1, 2020, we completed the annual impairment review, in which goodwill impairment was tested at the reporting unit level for our six reporting units with goodwill. As part of our annual evaluation, we did not recognize any additional impairment charges related to our goodwill and indefinite-lived intangible assets. The estimated fair value was substantially in excess of the carrying value for the majority of the reporting units and material indefinite-lived intangible assets, and in all instances, the estimated fair value exceeded the carrying value by greater than 10 percent, with the exception of the Pet Foods reporting unit and the Rachael Ray Nutrish brand within the U.S. Retail Pet Foods segment. The carrying values of the goodwill and indefinite-lived intangible assets within the U.S. Retail Pet Foods segment were $2.4 billion and $1.4 billion, respectively, as of April 30, 2020. These intangible assets remain susceptible to future impairment charges due to narrow differences between fair value and carrying value, which is primarily attributable to the recent impairment charges and the acquisition of Ainsworth in May 2018. Additional sensitivity analyses were performed for the Pet Foods reporting unit, assuming a hypothetical 50-basis-point decrease in the expected long-term growth rate or a hypothetical 50-basis-point increase in the weighted-average cost of capital. Both scenarios independently yielded an estimated fair value for the Pet Foods reporting unit below carrying value. Therefore, any significant adverse change in our near or long-term projections or macroeconomic conditions could result in future impairment charges, which could be material.

Following the completion of our annual impairment review, we further evaluated the potential impact of COVID-19 on the fair value of our goodwill and indefinite-lived intangible assets. While we concluded there were no indicators of impairment
as of April 30, 2020, any significant sustained adverse change in consumer purchasing behaviors, government restrictions, financial results, or macroeconomic conditions could result in future impairment, specifically as it relates to the Away From Home reporting unit, which has experienced a significant decline in demand as a result of COVID-19. We will continue to evaluate the nature and extent to which COVID-19 could impact our business and our goodwill and other intangible assets. As of April 30, 2020, the goodwill related to the Away From Home reporting unit represented approximately 65 percent of the goodwill within the International and Away From Home segment.

During 2019, we recognized impairment charges of $97.9 related to the goodwill of the Natural Foods reporting unit within the U.S. Retail Consumer Foods segment and $107.2 related to certain indefinite-lived intangible assets within the U.S. Retail Pet Foods segment. These charges were primarily the result of reductions in our long-term net sales and profitability projections and were included as noncash charges in our Statement of Consolidated Income.