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Goodwill and Other Intangible Assets
 9 Months Ended
Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure
Note 8: Goodwill and Other Intangible Assets

The following table summarizes the changes in our goodwill.
U.S. Retail CoffeeU.S. Retail Frozen Handheld and SpreadsU.S. Retail Pet FoodsSweet Baked SnacksInternational and Away From HomeTotal
Balance at April 30, 2024$2,090.9 $1,139.9 $1,580.2 $2,447.2 $391.7 $7,649.9 
Impairment charges (A)
— — — (794.3)— (794.3)
Divestiture— — — (277.4)— (277.4)
Other (B)(C)
— — — (0.4)(8.1)(8.5)
Balance at January 31, 2025$2,090.9 $1,139.9 $1,580.2 $1,375.1 $383.6 $6,569.7 
(A)We have recognized accumulated goodwill impairment charges of $1,037.2 as of January 31, 2025.
(B)The amount classified as other in the Sweet Baked Snacks segment represents purchase accounting adjustments for the acquisition of Hostess Brands.
(C)The amount classified as other in the International and Away From Home segment represents foreign currency translation adjustments.
The following table summarizes our other intangible assets and related accumulated amortization and impairment charges including foreign currency exchange adjustments.
January 31, 2025April 30, 2024
Acquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNetAcquisition CostAccumulated Amortization/Impairment Charges/Foreign Currency ExchangeNet
Finite-lived intangible assets subject to
   amortization:
Customer and contractual relationships$4,596.5 $2,048.3 $2,548.2 $4,766.7 $1,894.9 $2,871.8 
Patents and technology163.0 161.0 2.0 163.0 160.8 2.2 
Trademarks136.4 114.8 21.6 143.1 110.8 32.3 
Total intangible assets subject to amortization$4,895.9 $2,324.1 $2,571.8 $5,072.8 $2,166.5 $2,906.3 
Indefinite-lived intangible assets not subject to
   amortization:
Trademarks$4,372.0 $432.7 $3,939.3 $4,572.7 $223.6 $4,349.1 
Total other intangible assets$9,267.9 $2,756.8 $6,511.1 $9,645.5 $2,390.1 $7,255.4 
We review goodwill and other indefinite-lived intangible assets for impairment at least annually on February 1, and more often if indicators of impairment exist.
During the second quarter of 2025, the disposal group for the Voortman business was classified as held for sale, and as a result, a portion of the goodwill within the Sweet Baked Snacks reporting unit was allocated to the disposal group based on a preliminary relative fair value analysis. There were no indicators of impairment for the remaining goodwill of the Sweet Baked Snacks reporting unit as of October 31, 2024.
During the third quarter of 2025, we completed our long-range planning process, following the integration of the Hostess Brands business and operations, resulting in a decline in forecasted net sales and segment profit for the Sweet Baked Snacks segment. The declines in forecast are in line with the underperformance during the current fiscal year for both net sales and segment profit, primarily driven by increased inflationary pressures and diminished consumer discretionary income, which has led to slower than anticipated recovery in the sweet baked goods category. In addition, we have not met expectations from a distribution, merchandising, and competitive standpoint, which has resulted in lost market share.

As a result of the decline in both actual and forecasted net sales, as compared to the long-term projections utilized in the purchase price allocation, in conjunction with the narrow differences between estimated fair value and carrying value as of April 30, 2024, we performed an interim impairment analysis on the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark. Furthermore, on December 2, 2024, we divested the Voortman business, and as a result, we disposed $251.1 of goodwill within the Sweet Baked Snacks reporting unit. The amount of goodwill allocated to the disposal group was determined based on a relative fair value analysis, utilizing the updated long-range plan. The interim impairment analysis was completed following the disposal of goodwill allocated to the Voortman business. We recognized total pre-tax impairment charges of $1.0 billion during the third quarter of 2025, of which $794.3 and $208.2 related to the goodwill of the Sweet Baked Snacks reporting unit and the Hostess brand indefinite-lived trademark, respectively, to the extent the carrying values exceeded the estimated fair values. These charges were included as noncash charges in our Condensed Statement of Consolidated Income and Condensed Statement of Consolidated Cash Flows.

The goodwill and indefinite-lived trademark within the Sweet Baked Snacks segment remain susceptible to future impairment charges, as the carrying values approximate estimated fair values due to the impairment charges recognized during the third quarter of 2025 and the recent acquisition of Hostess Brands. Any significant adverse change in our near or long-term projections or macroeconomic conditions would result in future impairment charges for the Sweet Baked Snacks segment.
There were no other indicators of impairment, and as a result, we do not believe that any of our remaining reporting units or material indefinite-lived intangible assets are more likely than not impaired as of January 31, 2025.