Goodwill

12 Months Ended

Jan. 01, 2022

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


	Feed Ingredients		Food Ingredients		Fuel Ingredients		Total
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
Goodwill acquired during year	40		—		161		201


Foreign currency translation	(15,498)		(18,430)		(7,397)		(41,325)
Balance at January 1, 2022
Goodwill	814,863		332,866		119,342		1,267,071
Accumulated impairment losses	(15,914)		(461)		(31,580)		(47,955)
	$	798,949	$	332,405	$	87,762	$	1,219,116

The process of evaluating goodwill for impairment involves the determination of the fair value of the Company's reporting units. In fiscal 2021, the Company concluded it is more likely than not that the fair values of the reporting units containing goodwill exceeded the related carrying value pursuant to a qualitative assessment

completed as of October 30, 2021. In fiscal 2020, the Company performed its annual goodwill and indefinite-lived intangible assets impairment assessments at October 24, 2020 pursuant to a quantitative assessment 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. In fiscal 2019, 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.