Note 6 - Goodwill and Intangible Assets, Net

9 Months Ended

Mar. 27, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6 – Goodwill and Intangible Assets, Net

The following table presents goodwill by segment and the related change in the net carrying amount:

	Consumer Floral & Gifts		BloomNet		Gourmet Foods & Gift Baskets		Total
	(in thousands)
Balance at June 27, 2021	$	150,880	$	-	$	57,270	$	208,150
Acquisition of Vital Choice		-		-		5,035		5,035
Acquisition of Alice’s Table		720		-		-		720
Balance at March 27, 2022	$	151,600	$	-	$	62,305	$	213,905

The Company’s other intangible assets consist of the following:

				March 27, 2022						June 27, 2021
	Amortization Period			Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in years)			(in thousands)
Intangible assets with determinable lives
Investment in licenses	14	-	16	$	7,420	$	6,437	$	983	$	7,420	$	6,359	$	1,061
Customer lists	3	-	10		28,509		16,442		12,067		23,825		13,697		10,128
Other	5	-	14		2,946		2,528		418		2,946		2,483		463
Total intangible assets with determinable lives					38,875		25,407		13,468		34,191		22,539		11,652
Trademarks with indefinite lives					133,173		-		133,173		127,396		-		127,396
Total identifiable intangible assets				$	172,048	$	25,407	$	146,641	$	161,587	$	22,539	$	139,048

Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Future estimated amortization expense is as follows: remainder of fiscal 2022 - $1.3 million, fiscal 2023 - $4.2 million, fiscal 2024 - $4.2 million, fiscal 2025 - $1.7 million, fiscal 2026 - $1.2 million and thereafter - $0.9 million.