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Organization, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Nov. 29, 2020
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Consolidated Statements of Cash Flows:

(In thousands)November 29, 2020May 31, 2020November 24, 2019May 26, 2019
Cash and cash equivalents$2,491 $360 $1,594 $1,080 
Restricted cash— 193 385 385 
Cash, cash equivalents and restricted cash$2,491 $553 $1,979$1,465 
Schedule of Inventories
Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value and consist of the following:

(In thousands)November 29, 2020May 31, 2020
Finished goods$36,325 $35,177 
Raw materials26,983 25,856 
Work in progress7,894 5,278 
Total$71,202 $66,311 
Financing Receivable, Allowance for Credit Loss
The changes in the Company’s allowance for sales returns and credit losses are summarized in the following table (in thousands):
Balance at beginning of periodProvisions for expected credit lossesWrite offs, net of recoveriesBalance at end of period
Six months ended November 29, 2020$438 $102 $(263)$277 
Accumulated Other Comprehensive Income (Loss) The Company’s OCI consists of net deferred gains and losses on its interest rate swap derivative instrument accounted for as a cash flow hedge. The components of AOCL, net of tax, are as follows:
(In thousands)AOCL
Balance as of May 31, 2020$(2,808)
Other comprehensive loss before reclassifications, net of tax effect(344)
Amounts reclassified from OCI1,049 
Other comprehensive income, net$705 
November 29, 2020$(2,103)
Schedule of Effect of Significant Unobservable Inputs for Investment
In determining the fair value of the investment in Windset, the Company utilizes the following significant unobservable inputs in the discounted cash flow models:
November 29, 2020 Range
(Weighted Average)		May 31, 2020 Range
(Weighted Average)
Revenue growth rates
7% (6.9)%
6% to 7% (6.4)%
Expense growth rates
0% to 8% (5.5)%
6% to 8% (6.6)%
Income tax rates15%15%
Discount rates11%12%
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions:
(In thousands)Impact on value of investment in Windset as of November 29, 2020
10% increase in revenue growth rates$6,000 
10% increase in expense growth rates$(3,200)
10% increase in income tax rates$(100)
10% increase in discount rates$(1,300)
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring and nonrecurring basis:

(In thousands)Fair Value at November 29, 2020Fair Value at May 31, 2020
Assets:Level 1Level 2Level 3Level 1Level 2Level 3
Assets held for sale - nonrecurring$— $— $— $— $— $2,607 
Investment in non-public company— — 45,100 — — 56,900 
Total assets$— $— $45,100 $— $— $59,507 
Liabilities:
Interest rate swap contracts$— $2,646 $— $— $3,578 $— 
Total liabilities$— $2,646 $— $— $3,578 $— 
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table reflects the fair value roll forward reconciliation of Level 3 assets and liabilities measured at fair value for the six months ended November 29, 2020:

(In thousands)Investment in Windset
Balance as of May 31, 2020$56,900 
Fair value change(11,800)
Balance as of November 29, 2020$45,100 
Disaggregation of Revenue
The Company disaggregates its revenue by segment product lines based on how it markets its products and reviews results of operations. The following tables disaggregate segment revenue by major product lines:

(In thousands)Three Months EndedSix Months Ended
Curation Foods:November 29, 2020November 24, 2019November 29, 2020November 24, 2019
Fresh packaged salads and vegetables$92,423 $104,912 $188,601 $214,743 
Avocado products14,713 14,021 31,730 30,221 
Technology549 818 1,192 1,460 
Total$107,685 $119,751 $221,523 $246,424 

(In thousands)Three Months EndedSix Months Ended
Lifecore:November 29, 2020November 24, 2019November 29, 2020November 24, 2019
Contact development and manufacturing organization$18,259 $17,811 $34,747 $29,114 
Fermentation4,960 5,031 10,277 5,769 
Total$23,219 $22,842 $45,024 $34,883