Note 7 - Intangible Assets

12 Months Ended

May 25, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

7.             Intangible Assets

Changes in the carrying amount of goodwill for the fiscal years ended May 25, 2014, May 26, 2013 and May 27, 2012 by reportable segment, are as follows (in thousands):

	Food Products Technology		Corporate		Hyaluronan- based Biomaterials		Total
Balance as of May 29, 2011		22,581		—		13,881		36,462
Goodwill acquired during the period		13,158		—		—		13,158
Balance as of May 27, 2012		35,739		—		13,881		49,620
Balance as of May 26, 2013	$	35,739	$	—	$	13,881	$	49,620
Balance as of May 25, 2014	$	35,739	$	—	$	13,881	$	49,620

Information regarding Landec’s other intangible assets is as follows (in thousands):

	Trademarks & Trade names		Customer Relationships			Total
Balance as of May 29, 2011		12,428		3,366			15,794
Acquired during the period		36,000		7,500			43,500
Amortization expense		—		(309	)		(309	)
Balance as of May 27, 2012		48,428		10,557			58,985
Amortization expense		—		(951	)		(951	)
Balance as of May 26, 2013	$	48,428	$	9,606		$	58,034
Amortization expense		—		(886	)		(886	)
Balance as of May 25, 2014	$	48,428	$	8,720		$	57,148

Accumulated amortization of Trademark and Trade names as of May 25, 2014 and May 26, 2013 was $872,000. Accumulated amortization of Customer Relationships as of May 25, 2014 and May 26, 2013 was $2.5 million and $1.6 million, respectively. Accumulated impairment losses as of May 25, 2014 and May 26, 2013 were $4.8 million. Lifecore’s Customer Relationships amount of $3.7 million is being amortized over 12 years and Apio’s customer relationships amount of $7.5 million is being amortized over 13 years. The amortization expense for the next five fiscal years is estimated to be $885,000 per year.