Tyson Foods 2011 Annual Report Download - page 49

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49
NOTE 5: GOODWILL AND OTHER INTANGIBLE ASSETS
The following table reflects goodwill activity for fiscal years 2011 and 2010:
in millions
Chicken
Beef
Pork
Prepared
Foods
Consolidated
Balances at October 3, 2009:
Goodwill
$973
$1,123
$317
$64
$2,477
Accumulated impairment losses
0
(560)
0
0
(560)
973
563
317
64
1,917
Fiscal 2010 Activity:
Impairment losses
(29)
0
0
0
(29)
Currency translation and other
6
0
0
(1)
5
Balances at October 2, 2010:
Goodwill
$979
$1,123
$317
$63
$2,482
Accumulated impairment losses
(29)
(560)
0
0
(589)
$950
$563
$317
$63
$1,893
Fiscal 2011 Activity:
Impairment losses
0
0
0
0
0
Currency translation and other
(1)
0
0
0
(1)
Balances at October 1, 2011:
Goodwill
978
1,123
317
63
2,481
Accumulated impairment losses
(29)
(560)
0
0
(589)
$949
$563
$317
$63
$1,892
Other intangible assets by type at October 1, 2011, and October 2, 2010:
in millions
2011
2010
Gross Carrying Value:
Trademarks
$56
$56
Patents, intellectual property and other
143
144
Land use rights
25
23
Less Accumulated Amortization
75
57
Total Intangible Assets
$149
$166
Beginning with the date benefits are realized, other intangible assets are amortized using the straight-line method over their estimated
period of benefit of three to 30 years. Amortization expense of $18 million, $19 million and $10 million was recognized during fiscal
2011, 2010 and 2009, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to
October 1, 2011 will be: 2012 - $16 million; 2013 - $16 million; 2014 - $15 million; 2015 - $15 million; 2016 - $14 million.
NOTE 6: OTHER CURRENT LIABILITIES
Other current liabilities at October 1, 2011, and October 2, 2010, include:
in millions
2011
2010
Accrued salaries, wages and benefits
$407
$444
Self-insurance reserves
298
256
Other
335
334
Total other current liabilities
$1,040
$1,034