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Note 6 - Goodwill and Intangible Assets

12 Months Ended

Jul. 03, 2022

Goodwill and Intangible Assets Disclosure [Text Block]

Note 6. Goodwill and Intangible Assets

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 28, 2020	$	17,441	$	-	$	57,270	$	74,711
Acquisition of PersonalizationMall		133,439	$	-		-		133,439
Balance at June 27, 2021	$	150,880	$	-	$	57,270	$	208,150
Acquisition of Vital Choice		-		-		4,417		4,417
Acquisition of Alice’s Table		720		-		-		720
Balance at July 3, 2022	$	151,600	$	-	$	61,687	$	213,287

There were no goodwill impairment charges in any segment during the years ended July 3, 2022, June 27, 2021 and June 28, 2020, respectively.

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

					July 3, 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	$	6,464	$	956	$	7,420	$	6,359	$	1,061
Customer lists		3	-	10		28,509		17,473		11,036		23,825		13,697		10,128
Other		5	-	14		2,946		2,543		403		2,946		2,483		463
Total intangible assets with determinable lives						38,875		26,480		12,395		34,191		22,539		11,652

Trademarks with indefinite lives						133,173		-		133,173		127,396		-		127,396

Total identifiable intangible assets					$	172,048	$	26,480	$	145,568	$	161,587	$	22,539	$	139,048

Intangible assets with determinable lives 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. No material impairments were recognized for the years ended July 3, 2022, June 27, 2021 and June 28, 2020, respectively.

The amortization of intangible assets for the years ended July 3, 2022, June 27, 2021 and June 28, 2020 was $3.9 million, $3.3 million and $0.9 million, respectively. Future estimated amortization expense is as follows: 2023 - $4.3 million, 2024 - $4.2 million, 2025 - $1.7 million, 2026 - $1.2 million, 2027 - $0.5 million and thereafter - $0.5 million.