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Goodwill And Other Intangible Assets
 12 Months Ended
Jun. 30, 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 June 30, 2023 and 2022.
The following table summarizes our identifiable other intangible assets at June 30:
20232022
Tradenames (20 to 30-year life)
Gross carrying value$4,100 $37,100 
Accumulated amortization(181)(8,385)
Net carrying value$3,919 $28,715 
Customer Relationships (10 to 15-year life)
Gross carrying value$287 $14,207 
Accumulated amortization(190)(12,727)
Net carrying value$97 $1,480 
Technology / Know-how (10-year life)
Gross carrying value$2,450 $6,350 
Accumulated amortization(1,626)(4,222)
Net carrying value$824 $2,128 
Total net carrying value$4,840 $32,323 
In 2023, we recorded impairment charges of $25.0 million related to the intangible assets of Flatout, Inc. (“Flatout”) due to our lowered expectations for the projected sales and profitability of the Flatout business. The tradename, customer relationships and technology / know-how intangible assets were written down to their fair values. These impairment charges were reflected in Restructuring and Impairment Charges and were recorded in our Retail segment.
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.
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 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 in each of the years ended June 30:
202320222021
Amortization expense$2,514 $4,437 $5,255 
Total annual amortization expense for each of the next five years is estimated to be as follows:
2024$527 
2025$527 
2026$527 
2027$343 
2028$251