Intangible assets are initially recorded at their fair market values determined by quoted market prices in active markets, if available, or recognized valuation models. Intangible assets that have finite useful lives are amortized over their useful lives and are tested for impairment when events or changes in circumstances occur that indicate possible impairment. No impairment was recognized in fiscal 2022, fiscal 2021 or fiscal 2020.

Our intangible assets represent the fair value for trade name, customer relationships, non-compete agreements and technology acquired in connection with our acquisitions. Intangible assets subject to amortization were as follows (in thousands):

	May 28, 2022		May 29, 2021
Gross Amounts:
Trade Name	$	659	$	659
Customer Relationships (1)		3,393		3,426
Non-compete Agreements		177		177
Technology		230		230
Total Gross Amounts	$	4,459	$	4,492

Accumulated Amortization:
Trade Name	$	659	$	659
Customer Relationships		1,453		1,249
Non-compete Agreements		177		177
Technology		160		137
Total Accumulated Amortization	$	2,449	$	2,222

Net Intangible Assets	$	2,010	$	2,270

Companies must perform the annual test for impairment for indefinite life intangible assets, for which the Company has none, as well as test definite life assets for impairment in the event of a “trigger event” such as adverse changes in the business climate or market which might negatively impact the value of a reporting unit. We determined that the intangible assets were not impaired as of May 28, 2022 on the basis that no adverse events or changes in circumstances were identified that could indicate that the carrying amounts of such assets may not be recoverable.

The amortization expense associated with the intangible assets subject to amortization for the next five years is presented in the following table (in thousands):

Fiscal Year	Amortization Expense
2023	$	245
2024		232
2025		219
2026		185
2027		173
Thereafter		956
Total amortization expense	$	2,010

The amortization expense associated with the intangible assets totaled approximately $0.2 million during fiscal 2022, fiscal 2021 and fiscal 2020. The weighted average number of years of amortization expense remaining is 11.6 years.