XML 22 R13.htm IDEA: XBRL DOCUMENT v3.23.1
Goodwill And Other Intangible Assets
 9 Months Ended
Mar. 31, 2023
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 March 31, 2023 and June 30, 2022.
The following table summarizes our identifiable other intangible assets:
March 31,
2023		June 30,
2022
Tradenames (20 to 30-year life)
Gross carrying value$37,100 $37,100 
Accumulated amortization(9,386)(8,385)
Net carrying value$27,714 $28,715 
Customer Relationships (10 to 15-year life)
Gross carrying value$5,287 $14,207 
Accumulated amortization(4,210)(12,727)
Net carrying value$1,077 $1,480 
Technology / Know-how (10-year life)
Gross carrying value$6,350 $6,350 
Accumulated amortization(4,704)(4,222)
Net carrying value$1,646 $2,128 
Total net carrying value$30,437 $32,323 
In the three months ended March 31, 2022, we recorded an impairment charge of $12.3 million to write off the net carrying value of Bantam’s tradename, customer relationships and technology / know-how intangible assets based on our decision to explore strategic alternatives for this business. The impairment charge was reflected in Restructuring and Impairment Charges and was not allocated to our two reportable segments due to its unusual nature.
In the three months ended December 31, 2021, we recorded an impairment charge of $0.9 million related to Bantam’s Retail customer relationships intangible asset, which reflected lower projected cash flows for Bantam’s Retail business. The impairment charge was reflected in Restructuring and Impairment Charges and was recorded in our Retail segment.
The impairment charges discussed above represented 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 represented 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:
Three Months Ended 
March 31,		Nine Months Ended 
March 31,
 2023202220232022
Amortization expense$629 $1,161 $1,886 $3,562 
Total annual amortization expense for each of the next five years is estimated to be as follows:
2024$2,514 
2025$2,212 
2026$1,610 
2027$1,426 
2028$1,334