GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
May 29, 2011
Notes To Consolidated Financial Statements  
Goodwill and Other Intangible Assets

NOTE 6. GOODWILL AND OTHER INTANGIBLE ASSETS

 

The components of goodwill and other intangible assets are as follows:

In Millions May 29, 2011 May 30, 2010
Goodwill$ 6,750.8$ 6,592.8
Other intangible assets:    
Intangible assets not subject to amortization:    
Brands  3,771.7  3,679.6
Intangible assets subject to amortization:    
Patents, trademarks, and other finite-lived intangibles  69.2  54.4
Less accumulated amortization  (27.6)  (19.0)
Intangible assets subject to amortization  41.6  35.4
Other intangible assets  3,813.3  3,715.0
Total$ 10,564.1$ 10,307.8

The changes in the carrying amount of goodwill for fiscal 2009, 2010, and 2011 are as follows:

In Millions  U.S. Retail  International  Bakeries and Foodservice  Joint Ventures  Total
Balance as of May 25, 2008 $ 5,107.0 $ 146.4 $ 955.7 $ 577.0 $ 6,786.1
Acquisition   41.6   -   -   -   41.6
Divestitures   (17.8)   (0.1)   (23.7)   -   (41.6)
Deferred tax adjustment related to                
divestitures   (46.5)   (4.5)   (12.8)   -   (63.8)
Deferred tax adjustment resulting               
from change in acquisition-related    14.0   1.3   3.8   -   19.1
income tax liabilities               
Other activity, primarily foreign                
currency translation   -   (19.8)   -   (58.6)   (78.4)
Balance as of May 31, 2009   5,098.3   123.3   923.0   518.4   6,663.0
Other activity, primarily foreign                
currency translation   -   (1.3)   -   (68.9)   (70.2)
Balance as of May 30, 2010   5,098.3   122.0   923.0   449.5   6,592.8
Acquisitions   44.6   26.9   -   -   71.5
Divestitures   -   (0.5)   (1.9)   -   (2.4)
Other activity, primarily foreign                
currency translation   -   14.2   -   74.7   88.9
Balance as of May 29, 2011 $ 5,142.9 $ 162.6 $ 921.1 $ 524.2 $ 6,750.8

The changes in the carrying amount of other intangible assets for fiscal 2009, 2010, and 2011 are as follows:

In Millions U.S. Retail  International  Joint Ventures  Total
Balance as of May 25, 2008$ 3,175.2 $ 518.8 $ 83.2 $ 3,777.2
Acquisition  19.4   -   -   19.4
Other activity, primarily           
foreign currency translation  14.3   (56.2)   (7.7)   (49.6)
Balance as of May 31, 2009  3,208.9   462.6   75.5   3,747.0
Other activity, primarily           
foreign currency translation  (2.3)   (17.3)   (12.4)   (32.0)
Balance as of May 30, 2010  3,206.6   445.3   63.1   3,715.0
Acquisitions  39.3   6.0   -   45.3
Other activity, primarily           
foreign currency translation  (3.4)   46.6   9.8   53.0
Balance as of May 29, 2011$ 3,242.5 $ 497.9 $ 72.9 $ 3,813.3