Goodwill and Other Intangible Assets

12 Months Ended

Apr. 30, 2012

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

NOTE 7 GOODWILL AND OTHER INTANGIBLE ASSETS

A summary of changes in the Company’s goodwill during the years ended April 30, 2012 and 2011, by reportable segment is as follows:

	U.S. Retail Coffee			U.S. Retail Consumer Foods			International, Foodservice, and Natural Foods		Total
Balance at May 1, 2010	$	1,635,413		$	1,034,395		$	137,922	$	2,807,730
Other		(47	)		1,772			3,291		5,016
Balance at April 30, 2011	$	1,635,366		$	1,036,167		$	141,213	$	2,812,746
Acquisitions		84,845			—			156,778		241,623
Other		86			(925	)		1,088		249
Balance at April 30, 2012	$	1,720,297		$	1,035,242		$	299,079	$	3,054,618

Included in the other category at April 30, 2012 and 2011, were foreign currency exchange and other adjustments.

The Company’s other intangible assets and related accumulated amortization and impairment charges are as follows:

	April 30, 2012						April 30, 2011
	Acquisition Cost		Accumulated Amortization/ Impairment Charges		Net		Acquisition Cost		Accumulated Amortization/ Impairment Charges		Net
Finite-lived intangible assets subject to amortization:
Customer and contractual relationships	$	1,415,084	$	238,419	$	1,176,665	$	1,180,000	$	168,125	$	1,011,875
Patents and technology		158,770		36,888		121,882		134,970		25,980		108,990
Trademarks		62,554		18,854		43,700		35,153		6,652		28,501
Total intangible assets subject to amortization	$	1,636,408	$	294,161	$	1,342,247	$	1,350,123	$	200,757	$	1,149,366
Indefinite-lived intangible assets not subject to amortization:
Trademarks	$	1,855,621	$	10,861	$	1,844,760	$	1,799,862	$	9,218	$	1,790,644
Total other intangible assets	$	3,492,029	$	305,022	$	3,187,007	$	3,149,985	$	209,975	$	2,940,010

Amortization expense for finite-lived intangible assets was $87,721, $73,438, and $72,417 in 2012, 2011, and 2010, respectively. The weighted-average useful life of the finite-lived intangible assets is 18 years. Based on the amount of intangible assets subject to amortization at April 30, 2012, the estimated amortization expense for each of the succeeding five years is approximately $96,000.

The Company reviews goodwill and other indefinite-lived intangible assets at least annually for impairment. The annual impairment review was performed as of February 1, 2012. Goodwill impairment is tested at the reporting unit level which is the Company’s operating segments.

Nonrecurring fair value adjustments of $4,590, $17,599, and $11,658 were recognized related to the impariment of certain intangible assets in 2012, 2011, and 2010, respectively. The impairment recognized in 2012 was related to a finite-lived trademark. The impairment was recognized in the fourth quarter when the Company evaluated the historical performance and future growth of this regional canned milk brand. The Company utilized Level 3 inputs based on management’s best estimates and assumptions to estimate the fair value of the trademark and concluded the trademark had no value. The majority of the impairment recognized in 2011 and 2010 was related to the Europe’s Best trademark and customer relationship. In October 2011, the Company sold the Europe’s Best frozen fruit and vegetable business, resulting in a loss of $11,287.