Goodwill And Other Intangible Assets

9 Months Ended

Mar. 31, 2024

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, 2024 and June 30, 2023.

The following table summarizes our identifiable other intangible assets:

	March 31, 2024		June 30, 2023
Tradenames (20 to 30-year life)
Gross carrying value	$	—	$	4,100
Accumulated amortization	—		(181)
Net carrying value	$	—	$	3,919
Customer Relationships (10-year life)
Gross carrying value	$	—	$	287
Accumulated amortization	—		(190)
Net carrying value	$	—	$	97
Technology / Know-how (10-year life)
Gross carrying value	$	—	$	2,450
Accumulated amortization	—		(1,626)
Net carrying value	$	—	$	824
Total net carrying value	$	—	$	4,840

In the three months ended March 31, 2024, we recorded an impairment charge of $4.5 million to write off the net carrying value of the intangible assets related to Angelic Bakehouse and Flatout based on our decision to exit our perimeter-of-the-store bakery product lines. The impairment charge represents 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. The impairment charge was reflected in Restructuring and Impairment Charges and was not allocated to our two reportable segments due to its unusual nature. 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:

	Three Months Ended  March 31,				Nine Months Ended  March 31,
	2024		2023		2024		2023
Amortization expense	$	88	$	629	$	352	$	1,886