XML 44 R12.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Goodwill and Intangible Assets
12 Months Ended
May 26, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill was $13.9 million as of both May 26, 2024 and May 28, 2023. There were no changes in goodwill during fiscal years 2024 and 2023. We have determined that Lifecore is the appropriate reporting unit for testing goodwill for impairment.
Intangible Assets
As of May 26, 2024 and May 28, 2023, the Company's intangible assets consisted of the following (in thousands):
May 26, 2024May 28, 2023
 Amortization Period
(years)
Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization

Customer relationships
12$3,700 $3,700 $3,700 $3,700 
Trademarks/tradenames
4,200 — 4,200 — 
Total intangible assets$7,900 3,700 $7,900 $3,700 

Amortization expense related to finite-lived intangible assets was $0.3 million for fiscal year 2022. As the finite-lived intangible assets were fully amortized as of May 29, 2022, there was no amortization expense during fiscal years 2023 and 2024 and there is no future amortization expense.