Tyson Foods 2012 Annual Report Download - page 47

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47
NOTE 5: GOODWILL AND OTHER INTANGIBLE ASSETS
The following table reflects goodwill activity for fiscal 2012 and 2011:
in millions
Chicken Beef Pork Prepared
Foods Consolidated
Balance at October 2, 2010
Goodwill $ 979 $ 1,123 $ 317 $ 63 $ 2,482
Accumulated impairment losses (29) (560) — — (589)
950 563 317 63 1,893
Fiscal 2011 Activity:
Impairment losses —————
Currency translation and other (1) — — — (1)
Balance at October 1, 2011
Goodwill $ 978 $ 1,123 $ 317 $ 63 $ 2,481
Accumulated impairment losses (29) (560) — — (589)
$ 949 $ 563 $ 317 $ 63 $ 1,892
Fiscal 2012 Activity:
Impairment losses —————
Currency translation and other (1) — — — (1)
Balance at September 29, 2012
Goodwill 977 1,123 317 63 2,480
Accumulated impairment losses (29) (560) — — (589)
$ 948 $ 563 $ 317 $ 63 $ 1,891
Other intangible assets by type at September 29, 2012, and October 1, 2011:
in millions
2012 2011
Gross Carrying Value:
Trademarks $ 56 $ 56
Patents, intellectual property and other 142 143
Land use rights 21 25
Less Accumulated Amortization 90 75
Total Intangible Assets $ 129 $ 149
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 $16 million, $18 million and $19 million was recognized during fiscal
2012, 2011 and 2010, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to
September 29, 2012, will be: 2013 - $16 million; 2014 - $15 million; 2015 - $15 million; 2016 - $14 million; 2017 - $12 million.
NOTE 6: OTHER CURRENT LIABILITIES
Other current liabilities at September 29, 2012, and October 1, 2011, include:
in millions
2012 2011
Accrued salaries, wages and benefits $ 382 $ 407
Self-insurance reserves 274 298
Other 287 335
Total other current liabilities $ 943 $ 1,040