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Goodwill And Other Intangible Assets | 9 Months Ended
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Mar. 31, 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 March 31, 2022 and June 30, 2021. The following table summarizes our identifiable other intangible assets:
| March 31, 2022 |  | June 30, 2021
Tradenames (20 to 30-year life) |  |  |
Gross carrying value | $ | 50,321 |  |  | $ | 62,531 |
Accumulated amortization | (12,350) |  |  | (12,421) |
Net carrying value | $ | 37,971 |  |  | $ | 50,110 |
Customer Relationships (2 to 15-year life) |  |  |
Gross carrying value | $ | 14,207 |  |  | $ | 17,507 |
Accumulated amortization | (12,496) |  |  | (12,912) |
Net carrying value | $ | 1,711 |  |  | $ | 4,595 |
Technology / Know-how (10-year life) |  |  |
Gross carrying value | $ | 6,350 |  |  | $ | 8,020 |
Accumulated amortization | (4,063) |  |  | (3,973) |
Net carrying value | $ | 2,287 |  |  | $ | 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 | $ | 41,969 |  |  | $ | 58,766 |
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 represents the excess of the carrying value over the fair value of estimated discounted cash flows for the remaining useful life of the intangible assets. The impairment charge is 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 reflects lower projected cash flows for Bantam’s Retail business. The impairment charge represents the excess of the carrying value over the fair value of estimated discounted cash flows for the remaining useful life of the intangible asset. The impairment charge is reflected in Restructuring and Impairment Charges and was recorded in our Retail segment. In the three months ended September 30, 2020, 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 represent the excess of the carrying value over the fair value of estimated discounted cash flows for the remaining useful lives of the intangible assets. The impairment charges are 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 have recorded accelerated amortization expense. As the fair value measurements used above 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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Amortization expense | $ | 1,161 |  |  | $ | 1,203 |  |  | $ | 3,562 |  |  | $ | 4,052 |
Total annual amortization expense for each of the next five years is estimated to be as follows:
2023 | $ | 3,105 |
2024 | $ | 3,105 |
2025 | $ | 2,845 |
2026 | $ | 2,215 |
2027 | $ | 2,044 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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