v3.24.3
Goodwill And Intangible Assets
 12 Months Ended
Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block] GOODWILL AND INTANGIBLE ASSETS
The following table reflects goodwill activity for fiscal years 2024 and 2023 (in millions):
BeefPorkChickenPrepared FoodsInternational/OtherConsolidated
Balance at October 1, 2022 (a)
$676 $423 $3,273 $5,784 $357 $10,513 
Fiscal 2023 Activity:
Acquisitions$— $— $— $118 $19 $137 
Measurement period adjustments— — — 2 — 2 
Impairment losses(333)— (210)— (238)(781)
Currency translation— — 1 — 6 7 
Balance at September 30, 2023 (a)
$343 $423 $3,064 $5,904 $144 $9,878 
Fiscal 2024 Activity:
Measurement period adjustments$— $— $— $(13)$— $(13)
Sale of business— — (63)— — (63)
Currency translation— — — — 17 17 
Balance at September 28, 2024 (a)
$343 $423 $3,001 $5,891 $161 $9,819 
(a) Included in goodwill for fiscal 2024 and 2023 are accumulated impairment losses of $893 million in Beef, $210 million in Chicken and $295 million in International/Other. Included in goodwill as of October 1, 2022 are accumulated impairment losses of $560 million in Beef and $57 million in International/Other.
The following table reflects intangible assets by type as of September 28, 2024 and September 30, 2023 (in millions):
20242023
Amortizable intangible assets:
Brands and trademarks$995 $1,007 
Customer relationships2,399 2,389 
Supply arrangements310 310 
Patents, intellectual property and other45 46 
Land use rights9 9 
Total gross amortizable intangible assets$3,758 $3,761 
Less accumulated amortization1,961 1,741 
Total net amortizable intangible assets$1,797 $2,020 
Brands and trademarks not subject to amortization4,078 4,078 
Total intangible assets$5,875 $6,098 
Amortization expense of $229 million, $229 million and $246 million was recognized during fiscal 2024, 2023 and 2022, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to September 28, 2024, will be: 2025 - $240 million; 2026 - $207 million; 2027 - $196 million; 2028 - $188 million; 2029 - $175 million.