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Goodwill And Other Intangible Assets
 12 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill attributable to the Retail and Foodservice segments was $157.4 million and $51.0 million, respectively, at June 30, 2022 and 2021.
The following table summarizes our identifiable other intangible assets at June 30:
20222021
Tradenames (20 to 30-year life)
Gross carrying value$37,100 $62,531 
Accumulated amortization(8,385)(12,421)
Net carrying value$28,715 $50,110 
Customer Relationships (2 to 15-year life)
Gross carrying value$14,207 $17,507 
Accumulated amortization(12,727)(12,912)
Net carrying value$1,480 $4,595 
Technology / Know-how (10-year life)
Gross carrying value$6,350 $8,020 
Accumulated amortization(4,222)(3,973)
Net carrying value$2,128 $4,047 
Non-compete Agreements (5-year life)
Gross carrying value$191 $191 
Accumulated amortization(191)(177)
Net carrying value$— $14 
Total net carrying value$32,323 $58,766 
In 2022, we recorded impairment charges of $13.2 million to write off the net carrying value of Bantam’s tradename, customer relationships and technology / know-how intangible assets. These impairment charges were reflected in Restructuring and Impairment Charges. We recorded $0.9 million in our Retail segment related to lower projected cash flows for Bantam’s Retail business. The remaining $12.3 million, which resulted from our decision to explore strategic alternatives for this business, was not allocated to our two reportable segments due to its unusual nature.
In 2022, we also recorded an impairment charge of $8.8 million related to the tradename intangible asset of Angelic Bakehouse, Inc. (“Angelic”), which reflected the impact of lower projected sales for Angelic’s branded Retail business. This impairment charge was reflected in Restructuring and Impairment Charges and was recorded in our Retail segment.
In 2021, we recorded impairment charges of $1.2 million related to certain tradename and technology / know-how intangible assets for Bantam, which reflected the impact of a SKU rationalization by a Foodservice customer resulting in the loss of sales to that customer after November 30, 2020. The impairment charges were reflected in Restructuring and Impairment Charges and were recorded in our Foodservice segment. We also reduced the remaining useful life for Bantam’s Foodservice customer relationship and recorded accelerated amortization expense.
The impairment charges discussed above represent the excess of the carrying value over the fair value of estimated discounted cash flows specific to the remaining useful lives of the related intangible assets. As the fair value measurements were based on significant inputs not observable in the market, they represent Level 3 measurements within the fair value hierarchy.
Amortization expense for our other intangible assets, which is reflected in Selling, General and Administrative Expenses, was as follows in each of the years ended June 30:
202220212020
Amortization expense$4,437 $5,255 $5,061 
Total annual amortization expense for each of the next five years is estimated to be as follows:
2023$2,514 
2024$2,514 
2025$2,212 
2026$1,610 
2027$1,426