Goodwill

12 Months Ended

Jan. 02, 2021

Changes in the carrying amount of goodwill (in thousands):


	Feed Ingredients		Food Ingredients		Fuel Ingredients		Total
Balance at December 29, 2018
Goodwill	$	791,966	$	335,701	$	117,867	$	1,245,534
Accumulated impairment losses	(15,914)		(461)		—		(16,375)
	776,052		335,240		117,867		1,229,159
Goodwill acquired during year	396		91		—		487

Goodwill disposed of during year	(636)		—		—		(636)
Foreign currency translation	1,731		(6,138)		(1,312)		(5,719)
Balance at December 28, 2019
Goodwill	793,457		329,654		116,555		1,239,666
Accumulated impairment losses	(15,914)		(461)		—		(16,375)
	777,543		329,193		116,555		1,223,291
Goodwill acquired during year	13,925		—		714		14,639

Goodwill impairment during year	—		—		(31,580)		(31,580)
Foreign currency translation	22,939		21,642		9,309		53,890
Balance at January 2, 2021
Goodwill	830,321		351,296		126,578		1,308,195
Accumulated impairment losses	(15,914)		(461)		(31,580)		(47,955)
	$	814,407	$	350,835	$	94,998	$	1,260,240

The process of evaluating goodwill for impairment involves the determination of the fair value of the Company's reporting units. In fiscal 2019 and fiscal 2018, the fair values of the Company’s reporting units containing goodwill exceeded the related carrying value pursuant to a quantitative assessment completed as of October 26, 2019 and October 27, 2018, respectively. The Company performed its annual goodwill and indefinite-lived intangible assets impairment assessments at October 24, 2020 and prior to finalizing the impairment testing a triggering event occurred, which due to unfavorable economics in the biodiesel industry, the Company made the decision to shut down processing operations at its biodiesel facilities located in the United States and Canada, and there are no current plans to resume biodiesel production at these facilities in the future. As a result, the Company recorded goodwill impairment charges in fiscal 2020 of approximately $31.6 million. See Note 18 to the consolidated financial statements for further discussion on asset impairment. Based on the Company's annual impairment testing at October 24, 2020, the remaining reporting units fair value exceeded their carrying value.