9. Intangible Assets, Net

Intangible assets, net consists of the following:

	June 26, 2016			June 28, 2015
Customer lists	$	23,615		$	23,615
Non-compete agreements		4,293			4,293
Licenses, trademarks and other		891			837
Total intangible assets, gross		28,799			28,745

Accumulated amortization - customer lists		(20,665	)		(19,432	)
Accumulated amortization - non-compete agreements		(3,860	)		(3,537	)
Accumulated amortization – licenses, trademarks and other		(533	)		(388	)
Total accumulated amortization		(25,058	)		(23,357	)
Total intangible assets, net	$	3,741		$	5,388

In fiscal 2007, the Company purchased certain texturing operations, which are included in the Company’s Polyester Segment. The valuation of the customer list acquired was determined by estimating the discounted net earnings attributable to the customer relationships that were purchased after considering items such as possible customer attrition. Based on the length and trend of the projected cash flows, an estimated useful life of thirteen years was determined. The customer list is amortized through December 2019, in a manner which reflects the expected economic benefit that will be received over its thirteen-year life. The non-compete agreement is amortized through December 2017, using the straight-line method over the period currently covered by the agreement.

A customer list and a non-compete agreement were recorded in connection with the business combination outlined in Note 4, utilizing similar valuation methods as described above for the fiscal 2007 transaction. The customer list is amortized over a nine-year estimated useful life based on the expected economic benefit. The non-compete agreement is amortized using the straight line method over the five-year term of the agreement.

In fiscal 2012, the Company acquired a controlling interest (and continues to hold such 60% membership interest) in Repreve Renewables, LLC (“Renewables”), an agricultural company focused on the development, production and commercialization of miscanthus grass for use in the animal bedding, bio energy and bio-based products markets. The non-compete agreement for Renewables is amortized using the straight-line method over the five-year term of the agreement. The FREEDOM

Giant Miscanthus (“FGM”) license held by Renewables is amortized using the straight-line method over its estimated useful life of eight years.

The Company capitalizes costs incurred to register trademarks for REPREVE

and other PVA products in various countries. The Company has determined that these trademarks have varying useful lives of up to three years and are being amortized using the straight-line method.

Amortization expense for intangible assets consists of the following:

	For the Fiscal Year Ended
	June 26, 2016		June 28, 2015		June 29, 2014
Customer lists	$	1,233	$	1,594	$	1,845
Non-compete agreements		323		323		319
Licenses, trademarks and other		145		163		134
Total amortization expense	$	1,701	$	2,080	$	2,298

The following table presents the expected intangible asset amortization for the next five fiscal years:

		2017				2018				2019				2020				2021
Expected amortization		$	1,393			$	1,054			$	700			$	351			$	69