CONAGRA FOODS INC /DE/ | 2013 | FY | 3


GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS
The change in the carrying amount of goodwill for fiscal 2013 and 2012 was as follows:
 
Consumer
Foods
 
Commercial
Foods
 
Ralcorp
 
Total
Balance as of Balance as of May 29, 2011
$
3,479.7

 
$
129.7

 
$

 
$
3,609.4

Acquisitions
418.8

 

 

 
418.8

Currency translation and purchase accounting adjustments
(11.8
)
 
(1.0
)
 

 
(12.8
)
Balance as of Balance as of May 27, 2012
$
3,886.7

 
$
128.7

 
$

 
$
4,015.4

Acquisitions
100.1

 

 
4,350.5

 
4,450.6

Currency translation and purchase accounting adjustments
(13.8
)
 
0.2

 
(1.7
)
 
(15.3
)
Balance as of Balance as of May 26, 2013
$
3,973.0

 
$
128.9

 
$
4,348.8

 
$
8,450.7


Other identifiable intangible assets were as follows:
 
2013
 
2012
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
Non-amortizing intangible assets
$
1,143.4

 
$

 
$
947.7

 
$

Amortizing intangible assets
2,404.1

 
125.4

 
313.8

 
70.0

 
$
3,547.5

 
$
125.4

 
$
1,261.5

 
$
70.0


Non-amortizing intangible assets are comprised of brands and trademarks.
Amortizing intangible assets, carrying a weighted average life of approximately 23 years, are principally composed of licensing arrangements, customer relationships, and intellectual property. For fiscal 2013, 2012, and 2011, we recognized amortization expense of $56.2 million, $21.1 million, and $17.8 million, respectively. Based on amortizing assets recognized in our consolidated balance sheet as of May 26, 2013, amortization expense is estimated to average $111.4 million for each of the next five years, with a high expense of $113.1 million in fiscal year 2014 and decreasing to a low expense of $110.8 million in fiscal year 2018.
In fiscal 2012, we acquired the Marie Callender's® brand trademarks for $57.5 million in cash. This intangible asset is presented in the Consumer Foods segment.

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