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Impairment of Long-Lived Assets
3 Months Ended
Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Impairment of Long-Lived Assets

Note DImpairment of Long-Lived Assets

 

Impairment of Long-Lived Assets

 

During the first quarter of fiscal 2023, we committed to plans to liquidate certain fixed assets at our Samuel joint venture’s toll processing facility in Cleveland, Ohio. In accordance with the applicable accounting guidance, the net assets were recorded at the lower of net book value or fair market value less costs to sell resulting in a pre-tax impairment charge of $312.

During the first quarter of fiscal 2024, we lowered our estimate of fair value less costs to sell to reflect the expected scrap value of the equipment, or $150, resulting in a pre-tax impairment charge of $1,401.